The upgrade may not shift the second largest cryptocurrency’s price immediately, but it may in time unlock a new group of investors, Brian Mosoff, said. Source
Ether Capital CEO: Shanghai Upgrade Likely to Be a 'Non-Event' on ETH's Price
Day: April 10, 2023
Crypto Traders Exploit Airdrops with Sybil Attacks for Massive Profits
“It should be well known, with a lot of funds raised, a lot of developers and reputable investors, a lot of hype around it and relevant to what’s happening in crypto at the moment,” Ilya said. Projects satisfying these criteria right now include zksynk, StarkNet and LayerZero, and everything related to scaling Ethereum, he believes. Source
FTX Control Failures | Blockchain News
FTX, a multi-billion dollar cryptocurrency company, has faced control failures due to inadequate financial and accounting controls, an inadequate group management structure, and the use of software not suitable for large companies, according to CEO John Ray III. In a court filing in April 2021, Ray gave a detailed account of the deficiencies that his restructuring team had identified at FTX. Ray noted that FTX relied on a hodgepodge of Google documents, Slack communications, shared drives, and Excel spreadsheets to manage its assets and liabilities. The company used QuickBooks for…
South Korean crypto exchange GDAC hacked for nearly $14M
South Korean crypto exchange GDAC has been hacked for approximately $13.9 million worth of crypto. The exchange has halted all deposits and withdrawals and is performing emergency server maintenance in response to the attack, according to an April 10 announcement from GDAC CEO Han Seunghwan. Notice on #GDAC Exchange Hack Alert⚠️ GDAC Exchange has officially announced that it has experienced a security breach Please refer to the official announcements made by the Exchange▶️GDAC Announcement: https://t.co/SNRFZTMEYg WEMIX Medium: https://t.co/7UIwyua72K — WEMIX (@WemixNetwork) April 10, 2023 According to the announcement, the attacker…
Euler Finance Community Weighs Plan to Return Money Recovered From $200M Hack
Created five days ago, the proposal aims to let Euler users redeem their capital as soon as possible. Submitted by co-founder Doug Hoyte, this has been “chosen as the optimum approach” by the Euler Foundation, Euler Labs and external advisers, according to the proposal. Source
Biggest Movers: DOGE, SHIB Consolidate to Start the Week – Market Updates Bitcoin News
Dogecoin was consolidating in today’s session, following a volatile few days of trading last week. The meme coin rose by nearly 30% last Monday, before losing these gains as the week matured. Shiba inu was largely unchanged. Dogecoin (DOGE) Dogecoin (DOGE) moved marginally higher on Monday, as prices began to settle following recent volatility. Last Monday saw the meme coin jump by nearly 30%, hitting a four-month high in the process. Since then, prices have fallen lower, with the meme coin hitting a bottom of $0.08204 earlier in today’s session.…
‘Don’t Mess with Texas Innovation’ — advocates criticize bill removing crypto mining incentives
Three crypto advocacy groups have launched a campaign in response to proposed legislation that would remove many incentives for miners operating in Texas. In an April 10 announcement, the Texas Blockchain Council, Chamber of Digital Commerce, and Satoshi Action Fund called on Texas residents to reach out to lawmakers in opposition to the state’s Senate Bill 1751. The legislation, if passed, would amend sections of Texas’ utilities and tax code to add restrictions for crypto mining facilities. The campaign, named ‘Don’t Mess With Texas Innovation’ — a play on the state’s…
Crypto exchange Huobi returns to profitability in Q1 after restructuring
According to an Apr. 10 post by Justin Sun, the de facto owner of cryptocurrency exchange Huobi Global, the firm recognized $150 million in revenue during Q1 2023 compared to $120 million in expenditures, resulting in a net income of $30 million. Sun says that “a large number of measures were taken to reduce costs and increase efficiency” during the quarter. For Q2 2023, he projects the exchange will bring $187 million in revenue and $76 million in expenses, with a net income of $110 million. Huobi was one of…
‘Pop or drop?’ Bitcoin analysts decide if BTC price will beat $30K
Bitcoin (BTC) continues to tread water at the April 10 Wall Street open, but crypto market participants are betting on a serious breakout next. After a late surge took BTC/USD to its highest weekly close since June 2022, there is new optimism over an attack on $30,000. Data from Cointelegraph Markets Pro and TradingView shows a cool start to the macro trading week, with $28,200 currently forming a focus. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView With formidable resistance overhead, however, Bitcoin has spent much of the last week in…
Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023 – Economics Bitcoin News
After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Additionally, the majority of the market is pricing in another 0.25% increase for the May 3 meeting of the Federal Open Market Committee (FOMC), and several analysts suspect it may be the last hike for quite some time. Economists Attempt to Predict Fed’s Next Decision — ‘Peak Rates Are in…