Day: October 6, 2023

Apple Contemplated Buying Bing from Microsoft in 2018

Google reportedly pays about $19 billion yearly to be Apple’s default search engine. It has come to light that Apple was eyeing a deal that would see it buy the Bing search engine from Microsoft Corporation (NASDAQ: MSFT) in 2018. That is according to a recent CNBC report which cited an unsealed transcript testimony from Apple’s head of machine learning John Giannandrea. Per the report, Apple Inc (NASDAQ: AAPL) was either going to buy Bing or enter into a joint business venture with Microsoft that would see Apple invest billions…

Crypto Wallet Maker Ledger Cuts Staff by 12%

The bear market coupled with the turbulent US regulatory environment has prompted many digital asset businesses to lay off a part of their staff. Hardware crypto wallet manufacturer Ledger is laying off 12% of its staff, citing microeconomic headwinds. In an October 5 blog post, the company’s CEO Pascal Gauthier wrote that the decision was made “for the longevity of the business,” which, like many crypto businesses has been impacted by the bear market caused by the collapse of major crypto firms like Voyager Digital and FTX. “Macroeconomic headwinds are…

Will Support Levels Halt Decline Above $0.27?

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Cardano (ADA) has been on a rollercoaster ride in the cryptocurrency market, with its recent price recovery rally encountering some significant challenges.  As of the latest data from CoinGecko, ADA is trading at $0.261, showing a modest 1.7% gain in the past 24 hours, but boasting a seven-day rally of 4.9%. However, beneath the surface, there are signs of growing overhead pressure that could limit ADA’s upward momentum. ADA’s journey to reclaim its previous highs faces its first major hurdle at the $0.26 mark. But this is just the beginning,…

Hack Saga Linked to Sam Bankman-Fried’s FTX Deepens as THORSwap Pauses Trades

CryptoX – Cryptocurrency Analysis and News Portal “Yesterday, following a careful evaluation of the situation and consultation with advisors, legal counsel, and law enforcement, the decision was made to temporarily transition the THORSwap interface into maintenance mode,” THORSwap developers said in a tweet. Original Source The post Hack Saga Linked to Sam Bankman-Fried’s FTX Deepens as THORSwap Pauses Trades appeared first on CryptoX. CryptoX Portal

Canadian regulatory body clarifies stablecoin rules for exchanges and issuers

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The Canadian Securities Administrators (CSA) has provided guidance to exchanges and cryptocurrency issuers on its interim approach to what it calls value-referenced crypto assets, with a particular focus on stablecoins. On Oct. 5, the umbrella organization of Canada’s provincial and territorial securities regulators published a clarification saying it may allow trading of certain cryptocurrencies that reference the value of a single fiat currency, subject to terms and conditions. In February, the CSA reaffirmed its view that stablecoins “may constitute securities and/or derivatives” which Canadian crypto exchanges are prohibited from trading.…

SocialFi app Stars Arena dispels ‘coordinated FUD’ after patching ‘noob’ vulnerability

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The team behind the new Friend.tech-inspired protocol Stars Arena has dismissed what it called “coordinated FUD” after patching an exploit that saw attackers escape with $2,000 from the Avalanche-based decentralized social media platform. In an Oct. 5 post on X (Twitter), the Stars Arena account said the exploit was fixed, adding, “Don’t get this wrong, we are at war.” THE EXPLOIT HAS BEEN FIXED. BUT DON’T GET THIS WRONG WE ARE AT WAR. We’re being targeted by malicious actors in the space that want to steal your money. The little…

FTX employees were aware of Alameda’s backdoor code

The Wall Street Journal has confirmed that Alameda Research used a secret backdoor in FTX, the defunct exchange, to withdraw billions of dollars of customer funds, and some of the exchange’s U.S.-based employees were aware of it. In spring 2022, a group of employees at LedgerX discovered a backdoor in the system that allowed Alameda Research, a third-party company, to transfer customer funds.  Although concerns were raised about the “special code,” it was not addressed, and a senior manager was later fired.  FTX staff became aware of the situation after LedgerX employees reported the…