Month: September 2023

$200M Mixin Network hack draws controversy

boss

Mixin Network, a Hong Kong-based decentralized cross-chain transfer protocol, is drawing controversy over the disclosure of a $200 million hack. On Sept. 23, the database of Mixin’s cloud service provider was breached by hackers, resulting in the loss of $200 million in assets on its mainnet. Deposits and withdrawal services were immediately suspended on the protocol. However, developers said transfers would not be affected as the investigation continues. In a post on Sept. 25, Zhuoer Jiang, CEO of Bitcoin mining pool BTC.TOP, claimed that Bitcoin (BTC) stored in the Mixin protocol…

Ethereum Funding Rates Turn Deep Red, What Does It Mean?

boss

Data shows the Ethereum funding rates have been quite negative in recent days. Here’s what this could mean for the cryptocurrency’s price. Ethereum Funding Rates Have Been Under The Zero Mark Recently As explained by an analyst in a CryptoQuant post, a short squeeze may be a possibility for the asset currently. The “funding rate” is an indicator that keeps track of the periodic fees that traders on the futures market are exchanging with each other. When the value of this metric is positive, it means that the long contract…

EU’s Digital Euro at Least 2 Years Away, ECB’s Christine Lagarde Says, Addressing CBDC Privacy Concerns

If “we can address all the conspiracy theories that abound about this – as if Big Brother was going to suddenly determine what you buy, when you buy it and how restricted it should be – then I think it would be characterized as a success,” Lagarde said, adding that the digital euro will need to offer privacy without full anonymity, and be user-friendly, free and universal. Source AddressingCBDCChristineConcernsDigitalECBsEuroEUsLagardePrivacyYears CryptoX Portal

Bitcoin price fights for $26K as US dollar strength hits 10-month high

boss

Bitcoin (BTC) hugged $26,000 at the Sep. 24 Wall Street open as a weekly close “nosedive” brought lasting consequences. BTC/USD 1-hour chart. Source: TradingView Bitcoin must preserve support now, analysis says Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory uncertain after briefly piercing $26,000 support. Sideways weekend trading soon turned sour into the new week, and upset overnight meant that bulls were unable to recoup lost ground. #Bitcoin Weekend price action wasn’t exciting until the later hours on Sunday as expected. Price held around the CME Close…

Number Of Ethereum Addresses Losing Money Just Reached A New All-Time High

Ethereum holders have been subject to uncertainty over the last few months as bulls and bears have struggled for control. With the bears winning at a much higher rate than the bulls, Ethereum holders have found their holdings have continued to lose value. This time around, the plunge has sent the number of investors losing money to a new all-time high. Number Of Ethereum Addresses In Loss At ATH On-chain data tracker Glassnode Alerts on X (formerly Twitter) has revealed a shocking development regarding Ethereum addresses. According to the tracker,…

Huawei Remains Silent of Its Secretive 5G Phone at Product Launch

Chinese tech giant Huawei refrained from unveiling its new 5G smartphone during its recent autumn season launch event. Instead, the company focused on electric vehicles, revealing its first sedan and luxury SUV. On Monday, September 25, Chinese telecommunications and tech giant Huawei remained tight-lipped about its new 5G phone featuring an advanced breakthrough. Rather than unveiling a smartphone, the company provided a glimpse of its upcoming electric vehicles, introducing its inaugural sedan and a luxury SUV. In addition, Huawei has entered into a partnership with an automaker to market vehicles…