Day: April 24, 2024

Cosmos Developers Patch Critical Flaw in IBC Protocol, Safeguarding $126 Million in Assets

Cosmos developers have successfully rectified a critical security vulnerability in its Inter-Blockchain Communication (IBC) protocol, which had placed assets worth at least $126 million in jeopardy, following a private notification from Asymmetric Research. This flaw, existing in the protocol since its 2021 inception, became exploitable recently with the introduction of new codebase developments but was […] Source CryptoX Portal

Is A $72K Bitcoin Surge On The Horizon? Glassnode’s Latest Analysis Points To An Answer

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Recent insights from Glassnode’s cofounders, shared under their X (formerly Twitter) account ‘Negentrophic’ have sparked interest in Bitcoin market dynamics, leading to a promising stabilization and possible price surge. Market Sentiments And EMA Trends With Bitcoin’s value recently wavering below the $70,000 mark, a detailed analysis from the cofounders suggests that a strong support level around the $62,000 50-day Exponential Moving Average (EMA) could set the stage for a significant rebound. This crucial support level indicates a strong buying sentiment, indicating the market’s confidence in the cryptocurrency’s value and a…

The Ever-Dwindling Chances for a Stablecoin Law

Last week, U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced a joint bill addressing how stablecoins could be regulated in the country. It’s the latest effort to try and get something done in the U.S. legislative front – but is it enough? Source

Crypto lobbyists file lawsuit against SEC on ‘dealer’ definition

The Blockchain Association and the Crypto Freedom Alliance of Texas have taken legal action against the U.S. SEC. The two groups contend that the SEC is instituting a new rule, adopted in February, that would negatively impact the crypto industry. The SEC’s rule extends federal securities laws to market participants with significant liquidity-providing roles, encompassing cryptocurrency transactions. The complaint, filed on Monday in a Texas district court, cites violations of the Administrative Procedures Act (APA), which governs federal agency rulemaking. “Before more harm can be done by this rabid regulator,…

“Mind-Boggling” Returns Tempt Financial Giants

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In a recent Bloomberg report, it has come to light that the hedge fund industry is increasingly drawn to the allure of the memecoin sector, given the recent price increases and substantial profits that surpass those of Bitcoin (BTC) or the largest altcoins in the market. Memecoin Mania One example of the appeal of memecoins to traditional finance institutions is Newport Beach-based Stratos, which launched a liquid fund with the Dogwifhat token in December.  The Solana-based memecoin Dogwifhat, known for its mascot – a beanie-wearing dog – became a major…

Ripple Asks Court to Reject SEC’s $2 Billion Penalty Request in XRP Case

Ripple Labs has filed its opposition to the request by the U.S. Securities and Exchange Commission (SEC) for the company to pay $2 billion in fines in the XRP case. “The SEC’s draconian remedial requests are ungrounded in law or principle. This court should reject them in their entirety,” Ripple stated. Ripple Files Opposition to […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Brace For Supply Shock, Omega Candle In Sight

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Samson Mow, the chief executive at Jan3, recently spoke to Forbes about the latest Bitcoin halving and its potential to catalyze what he refers to as the “Omega candles” – significant price movements that could elevate Bitcoin to the $1 million mark. According to Mow, halvings ensure a controlled distribution of Bitcoin, maintaining scarcity and value. The Mechanics Of Halving And Its Market Implications Samson Mow detailed in the interview with Forbes the mechanics behind Bitcoin halvings—a critical process built into Bitcoin’s framework by its creator, Satoshi Nakamoto. Omega Candle…