Day: August 5, 2023

Elon Musk debunks scam token claims, assures no crypto plans for X

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Elon Musk firmly stated that the social media platform X, (formerly known as Twitter), has no plans to launch any crypto tokens, as he responded to a post regarding questionable X and Twitter-based digital currencies on Saturday, August 5. In response to a post made by DogeDesigner, Elon Musk addressed the issue of scam tokens like $X and $TWITTER falsely claiming connections to the social media platform. DogeDesigner had cautioned the crypto community about being cautious with certain articles related to scam tokens and clarified that neither Elon Musk nor…

BTC hodlers outperformed crypto funds by 69% in H1 2023: 21e6 Capital AG

The classic buy and hold, or HODL approach to Bitcoin (BTC) outperformed the majority of crypto funds by 68.8% in the first half (H1) of 2023. According to data from Switzerland-based investment adviser 21e6 Capital AG, on average, crypto funds generated returns of 15.2% in the first half of 2023 (Jan.1 to June 30) , compared to the roughly 84% price gain BTC saw in the same period. Crypto funds on average generated 15.2% return in the first half of 2023 lol pic.twitter.com/vb8pwYfiX9 — Alex Krüger (@krugermacro) August 5, 2023…

BTC hodlers outperformed crypto funds by 69% in H1: 21e6 Capital

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The classic buy and hold, or HODL approach to Bitcoin (BTC) outperformed the majority of crypto funds by 68.8% in the first half (H1) of 2023. According to data from Switzerland-based investment adviser 21e6 Capital AG, on average, crypto funds generated returns of 15.2% in the first half of 2023 (Jan.1 to June 30) , compared to the roughly 84% price gain BTC saw in the same period. Crypto funds on average generated 15.2% return in the first half of 2023 lol pic.twitter.com/vb8pwYfiX9 — Alex Krüger (@krugermacro) August 5, 2023…

JPEG’d confirms return of 5,495 ETH from Curve hacker

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Nonfungible token finance (NFT-Fi) protocol JPEG’d has confirmed that 5,495 Ether (ETH), worth roughly $10 million at current prices, has been returned by the Curve Finance hacker. In exchange for returning the funds that were stolen on July 30, the hacker received a 610.6 ETH ($1.1 million) bounty. JPEG’d exploit update: Seems 5495 ETH was returned just now for a 10% whitehat bounty. 0x003b00378ac52c10200d8fcac0e42138a34e46b9d7c3350ad3372ae0eb141df3 Michael Razum is not the exploiter but was linked on-chain bc a few of his contracts were drained by this person. pic.twitter.com/mc3GGx2gyd — ZachXBT (@zachxbt) August…

Coinbase to release Base layer-2 for public access

On Aug. 9, Coinbase, the cryptocurrency exchange, will release its Base layer-2 platform for public access without restrictions. Before then, an Ethereum bridge will also be launched. Coinbase’s protocols lead Jesse Pollak said, “Base’s bridging functionality is up and running, and the mainnet will be open to everyone by Aug. 9.”  The newly established bridge allows users to transfer tokens between Ethereum and Base. Base is now open for bridging Base opens for everything on August 9 We’re helping throw an onchain festival to celebrate ɪᴛ’ꜱ ᴏɴᴄʜᴀɪɴ ꜱᴜᴍᴍᴇʀ 🟡https://t.co/p8KTcnkbbx — Base…

Coinbase Q2 report exceeds analyst expectations despite legal battle with SEC

Coinbase released its financial results for the second quarter of the year, beating the analysts’ expectations. The company reported $663 million in net revenue, which is down by 10% compared to the same period last year. Coinbase also disclosed an adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization, of $194 million and a net loss of $97 million, which is a huge uptick from the last quarter’s net loss of $1.1 billion. The company had transaction revenue of $327 million compared to $375 million in the first quarter,…

Coinbase Research Expert Decodes Latest Crypto And Finance Market Trends

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Coinbase’s Head of Research, David Duong, has shared his insights on the recent market movements in traditional finance and crypto.  He believes that current macro conditions suggest a temporary pause in the recent strong USD trend, which should support the crypto market.  Key Crypto & Finance Movements Duong notes that the recent carry trades upset by the Bank of Japan’s decision to raise the hard cap on its 10-year bond yield have created instability across different pockets of the FX market.  Meanwhile, the surprise decision by Brazil’s central bank to…