Day: March 7, 2023

Algorand Wallets Hacked Again | Blockchain News

Algorand-based wallets have been hit by security breaches in recent weeks, with MyAlgo and Algodex both experiencing hacks. MyAlgo urged users to withdraw their assets or rekey their funds after a February security breach that resulted in losses of around $9.2 million. In the past week, a targeted attack was carried out against a group of high-profile MyAlgo accounts. The cause of the breach is unknown, and the wallet provider has encouraged users to take precautionary measures to protect their assets. Meanwhile, Algodex revealed that a malicious actor infiltrated a…

Impact of the Silvergate collapse on crypto — Watch The Market Report live

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This week on The Market Report, the resident experts at Cointelegraph discuss all the details regarding Silvergate and its impact on the crypto market so far. We kick things off with this week’s top stories Bitcoin traders eye $19K BTC price bottom, warn of ‘hot’ February CPI It could be a testing few weeks for Bitcoin and risk assets, market commentators say, with Fed Chair Jerome Powell due to kick off the triggers on March 8. Historically, March has not been a great month for Bitcoin (BTC), and 2023 seems…

XRP, MATIC Rebound on Tuesday, Following Recent Lows – Market Updates Bitcoin News

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Xrp rose higher in Tuesday’s session, as prices continued to move away from a long-term support point. Overall, sentiment in cryptocurrencies remained largely bearish, with the global market cap down 0.34% as of writing. Polygon was also in the green at the time of writing. XRP, formerly ripple, was a notable gainer on Tuesday, as the token continued to move away from a recent support point. Following a low of $0.3648 to start the week, XRP/USD rose to an intraday high of $0.3751 earlier in the day. The move resulted…

Animoca Brands-Backed Forkast Labs Launches Index for NFTs

In one of its first products since its formation, Forkast Labs has launched three specific indexes as it seeks to double down on its influential role in the crypto world. As reported by The Block, the three indexes include the Forkast 500 NFT, Forkast SOL NFT Composite, and Forkast ETH NFT Composite respectively. These indexes are billed to serve as the S&P 500 of the crypto ecosystem and they are so designed to help restore trust in crypto data and analytics. The digital currency ecosystem is growing and one of its…

Bitcoin ASIC manufacturer Canaan saw 82% revenue drop in Q4

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According to a new filing with the U.S. Securities and Exchange Commission on Mar. 7, Canaan, a Chinese Bitcoin (BTC) miner and manufacturer of application-specific integrated circuit (ASIC) mining machines, reported that its revenue decreased by 82.1% Y/Y to $56.8 million in Q4 2022. During the quarter, Canaan sold 1.9 million terahash per second worth of computing power for Bitcoin mining, not accounting for lower ASIC prices, representing a 75.8% decline from Q4 2021.  At the same time, Canaan’s mining revenue improved 368.2% year over year to $10.46 million. As…