Month: August 2023

Will Bitcoin Rebound Anytime Soon? Here’s What On-Chain Data Says

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Bitcoin has continued to struggle recently as its price is still in the low $29,000 level. Here’s what on-chain data says about if a rebound is likely or not. What Does Bitcoin On-Chain Data Say About The Asset’s Near-Term Outlook? Bitcoin has stagnated recently as the cryptocurrency’s price has failed to keep any significant moves going. Even the latest decline in the asset has been indecisive, as the price didn’t take long to fall back to a sideways movement. Under these conditions, it’s natural that investors may be wondering when…

Curve hacker behind $61M heist begins returning funds

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The attacker behind the $61 million July 30 Curve Finance attack has returned 4,820.55 Alchemix ETH (alETH), worth approximately $8,889,118, to the Alchemix Finance team and 1 Ether (ETH), approximately $1,844, to the Curve Finance team. The Alchemix Finance protocol alETH-ETH pool on Curve is one of the pools originally exploited. We have received the test tx funds at 0x9e2b6378ee8ad2A4A95Fe481d63CAba8FB0EBBF9https://t.co/FZraob2wMq — Alchemix (@AlchemixFi) August 4, 2023 The Curve Finance protocol was attacked through a reentrancy bug on July 30, and over $61 million worth of crypto was lost in the…

‘The SEC has violated due process’ — Coinbase CLO on motion to dismiss lawsuit

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United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission in June. In an Aug. 4 filing with the U.S. District Court for the Southern District of New York, lawyers for Coinbase filed a motion for judgment, claiming the SEC had “violated due process, abused its discretion, and abandoned its own earlier interpretations of the securities laws” in asserting certain regulatory authority over the crypto exchange. The legal team cited precedent from the SEC v. Ripple case, in which a…

Bitstamp Makes Highly Anticipated XRP Announcement, But Does It Live Up To The Hype?

On Wednesday, August, 2, crypto exchange Bitstamp made a cryptic tweet teasing a new announcement and development for XRP. The exchange kept its promise and made the announcement. However, did it live up to the expectations and hype? The Big Announcement Popular digital asset exchange platform Bitstamp has recently unveiled its highly anticipated XRP announcement. The new feature allows users to stake their XRP holdings and earn long-term 2% APY in rewards. This offering is part of the platform’s creative Bitstamp Earn Lending Program, which offers users a reliable and…

Coinbase (COIN) Bears Doubt Stock Can Rise Even After Beating Wall Street’s Estimates

“Ultimately, we struggle to see a favorable valuation argument for the stock given that the company’s revenue base is tethered to an asset class that has yet to show a sustainable everyday utility value, as well as the significant levels of stock based comp, despite being profitable on an adjusted basis,” Goldman Sachs analysts led by Will Nance wrote. “Until we see evidence of mass adoption of crypto for everyday utility, we believe fundamentals will remain challenged,” the analysts wrote. Source

Optimism and Polkadot falling, Borroe sells over 3 million ROE in ongoing presale

Optimism (OP) fell and lost over 5% in early August.  On the other hand, Polkadot (DOT) remains in a tight trade range. Meanwhile, investors are analyzing a new crypto project, Borroe, currently conducting its presale.  Borroe raised $250,000 in five days, selling 25 million ROE, its native token. Investors maintain a bullish outlook on the project. Optimism is bearish In July 2023, Binance changed its operations in response to user feedback. These changes appeared to benefit Optimism, as the minimum block number and the deposit speed were reduced. Following this update,…

Bitcoin price taps $29.3K as data shows ‘most resilient’ US jobs market

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Bitcoin (BTC) inched higher at the Aug. 4 Wall Street open as mixed United States unemployment data rocked U.S. dollar strength. BTC/USD 1-hour chart. Source: TradingView U.S. unemployment gives mixed picture Data from Cointelegraph Markets Pro and TradingView followed BTC price action as BTC/USD set daily highs of $29,273. U.S. jobless figures came in below expectations on the day, at 3.5% versus an estimated 3.6%, while the number of jobs added was less than forecast. Responding, financial commentator Holger Zschaepitz said that the data had “no clear message.” “Despite the…

Users said CertiK’s warning was a false alarm, then, the project rugged

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A blockchain security firm tried to warn users of an imminent rug pull surounding a crypto project. Investors became angry and fired back. The firm rescinded the security alert. Then, the project it accused of being a rug pull, pulled the plug. This is the story of CertiK, a blockchain security firm that was just trying to do its job, the users who tried to stop them from doing so, and the project, Crypto Cars, who (perhaps gleefully) turned its back on its users.  Back in 2022, CertiK issued a…