Day: September 26, 2023

CZ appoints Binance security team to track Huobi HTX stolen funds

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Hours after the crypto exchange HTX (rebranded from Huobi) reported a hack that resulted in a loss of $8 million, Binance CEO Changpeng “CZ” Zhao offered the help of the exchange’s security team in investigating the attack. Timely intervention is key to tracking down and retrieving stolen cryptocurrencies, as hackers attempt to hide their tracks using mixers or converting the loot to privacy tokens. On Sept. 24, blockchain analytics platform Cyvers identified a hack that drained 5,000 Ether (ETH) from one of HTX’s hot wallets. Red CodeYesterday, our ML-powered system…

From Banks To Hedge Funds

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With anticipation around Bitcoin ETFs from giants like BlackRock, Fidelity, and Invesco, and an expected halving in April 2024, forecasts for Bitcoin’s price next year show a significant range. From JPMorgan to Standard Chartered Bank, here are the most notable estimates for 2024: Pantera Capital: $150,000 In their August “Blockchain Letter”, Pantera Capital, led by Dan Morehead, predicts a possible rise to $147,843 post the 2024 halving. Employing the stock-to-flow (S2F) ratio, they believe the price model suggests the valuation of Bitcoin against its scarcity will become more pronounced. Specifically,…

Taiwan’s major crypto exchanges form association to advance industry interests

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As Taiwan regulators prepare to lay out a crypto regulation framework in September, Taiwan’s digital asset platforms have announced the establishment of an industry association.  MaiCoin Group, BitoGroup and Ace Exchange became the first three founders of the Taiwan Virtual Asset Platform and Transaction Business Association. The preparatory group for the association was formed in early September, but legally, the initiative would become effective in October after the government issues its crypto framework. There are currently nine crypto exchanges represented in the preparatory group. Besides the three named above, the group…

FTX Founder SBF Files Repeat Request for Temporary Release Before Trial

Practical realities such as the government providing the defense a list of over 50 potential witnesses, thousands of pages of material and more than 1,300 exhibits, argue for a temporary release, the lawyers said. They added that they didn’t know which witnesses the government would call or in which order and so would not be able to prepare for the “next day’s witnesses and exhibits in the hours when we are not sitting in the courtroom.” Source

Sierra Space Commercial Company to Close $300M Funding Round at Valuation of $5B

With the new funds, Sierra Space intends to extend its flight activities to the space station and also focus on commercializing the lower earth orbit at scale for affordable operations. Privately held commercial space company Sierra Space is reportedly about to close a funding round with $300 million at a total market valuation of about $5 billion. According to a report by media outlet CNBC, the Colorado-based aerospace company will announce the closure of the funding round before the end of this week, according to people familiar with the matter.…

Justin Sun Admits $8M HTX Hack, Offers 5% for Return of Stolen Funds’

According to Sun, all customer funds are safe as the ETH stolen via the hack is only two weeks’ worth of the average HTX revenue. Justin Sun has announced on X (formerly Twitter) that crypto exchange HTX (formerly Huobi) suffered a hack in which the hackers made away with 5,000 Ether (ETH), worth about $7.9 million. In a thread, Sun provided further details about the HTX hack. The company advisor posted two of the hacker’s addresses and tried to allay customers’ fears, explaining: “HTX has suffered a loss of 5,000 ETH ($8…

Bitcoin price at risk? US Dollar index confirms bullish ‘golden cross’

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The Dollar Strength Index (DXY) achieved its highest level in nearly 10 months on Sep. 22, indicating growing confidence in the U.S. dollar compared to other fiat currencies like the British pound, euro, Japanese yen, and Swiss franc. DXY “golden cross” confir Moreover, investors are concerned that this surge in demand for the U.S. dollar might pose challenges for Bitcoin (BTC) and cryptocurrencies, although these concerns are not necessarily interconnected. U.S. Dollar Index (DXY). Source: TradingView The DXY index confirmed a golden cross pattern when the 50-day moving average surpassed the…

Celsius Creditors Approve Reorganization Plan, Which May Return Up to 85% Funds

The overwhelming vote marks another step towards the end of Celsius’ bankruptcy and the return of funds to customers. Celsius filed for bankruptcy in July last year as the crypto winter set in and its Chief Executive Officer Alex Mashinsky resigned as CEO in September 2022. In July 2023, Mashinsky was arrested on fraud charges and for manipulating the price of the CEL token, which he has denied. Source

Will Bullish Momentum Or Bearish Pressure Prevail?

Litecoin (LTC) has spent the past week trading within a tight price range, with its value hovering steadily around the mid-range point of $64. The price action for LTC in September has remained primarily bearish, with sellers maintaining control over the market.  While LTC has a history of volatile price swings, recent times have seen it mirroring the sideways movement of the overall market, largely influenced by Bitcoin’s fluctuations, which rose from $25,000 to $27,000 before dropping to $26,000. As of the latest data from CoinGecko, Litecoin is currently trading…