Day: June 20, 2024

Blockchain Security Firm Certik Returns $3,000,000 in Exploited Funds to Crypto Exchange Kraken

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A digital asset security research firm has returned $3 million in funds to crypto exchange Kraken after an unusual saga following a bug bounty program exploit. Yesterday, Kraken chief security officer Nick Percoco said in a lengthy X thread that the exchange was alerted days ago that an “extremely critical” code exploit allowing hackers to artificially inflate their funds had been discovered. “Within minutes we discovered an isolated bug. This allowed a malicious attacker, under the right circumstances, to initiate a deposit onto our platform and receive funds in their account…

Report Claims Jump Trading Under CFTC Probe for Crypto Activities

The Commodity Futures Trading Commission (CFTC) has initiated an inquiry into the cryptocurrency activities of Chicago-based Jump Trading, according to a report by Fortune’s Leo Schwartz. This investigation forms part of a larger regulatory review, though it does not suggest any wrongdoing by the firm. Jump Trading Under CFTC Scrutiny Jump Trading, noted for its […] Source CryptoX Portal

What the data really shows

Few platforms have faced as much skepticism as Solana. Critics often portray it as a centralized network plagued by frequent outages. However, such a narrative does not align with the actual data and progress witnessed within the Solana ecosystem. This article seeks to debunk these misconceptions by comprehensively analyzing Solana’s key metrics. Contrary to the prevailing negative perception, Solana showcases remarkable growth and innovation across several fronts. The increasing volumes of stablecoins transacted on its network, and the higher decentralized exchange (DEX) volumes compared to Ethereum highlight Solana’s expanding utility.…

Cardano And XRP Shorting Activity Could Act As ‘Rocket Fuel’ For A Rally; Santiment

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On-chain analytics platform Santiment has outlined a factor that could contribute to Cardano (ADA) and XRP enjoying further moves to the upside. Both tokens recorded relief pumps following the recent decline in the crypto market, but market traders believe this development is far from a bullish reversal.  Heavy Trader Shorting Could Lead To Price Rises For Cardano And XRP Santiment claimed in an X (formerly Twitter) post that the heavy trader shorting which Cardano and XRP are currently seeing could be the “rocket fuel” for continued price rises for these…

Mexican Cartels Using BTC, ETH, USDT, Other Tokens to Buy Fentanyl Precursors: U.S. Treasury

The cartels “are increasingly purchasing fentanyl precursor chemicals and manufacturing equipment” from China-based suppliers and paying in tokens including bitcoin (BTC), ether (ETH), monero (XMR), and tether (USDT) “among others,” according to an updated FinCEN advisory to alert U.S. financial firms about the network of criminal organizations producing the dangerous narcotic. Source

87% Of Bitcoin Hodlers Laughing All The Way To The Bank

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The current state of the Bitcoin market offers a mix of optimism and caution for investors. Over 87% of Bitcoin holders are in profit, with their investments valued higher than their initial purchase prices. Related Reading On average, these investors are seeing unrealized gains of 120%, a significant figure that reflects the substantial rally that pushed Bitcoin to its all-time high in March, according to Glassnode data. However, despite these gains, the market exhibits both encouraging long-term trends and some short-term uncertainties that merit closer examination. Source: Glassnode Profitability And…

Insights from 2023 and Expectations for 2024

It’s important to note the latest survey only spans May 30, 2023, to Oct. 6, 2023, missing a critical year-end period during which bitcoin rose from approximately $28,000 to $42,300, driven largely by anticipation of the SEC’s approval of spot bitcoin ETFs which occurred later, in January of 2024. Perceptions have likely evolved meaningfully since the start of 2024 following crypto’s market capitalization climbing above $2.5 trillion, Bitcoin surging to nearly $74,000, and the SEC’s approval of bitcoin and soon Ether spot ETFs. Source

Bitflyer Takes Over FTX’s Defunct Japanese Unit: NHK

According to a local report, the Japan-based crypto exchange Bitflyer has acquired the failed Japanese unit of FTX. The report indicates that arrangements are currently underway to take over the business. Bitflyer Acquires Bankrupt FTX Japan, Local Report Claims On June 20, 2024, NHK reported that Japan’s Bitflyer acquired the now-defunct Japanese unit of FTX. […] Source CryptoX Portal

Binance Announces Blockchain Week Dubai 2024 with Discounted Early Bird Tickets

Binance has officially announced the dates for its highly anticipated Binance Blockchain Week Dubai 2024, set to take place from October 30 to October 31 at Dubai’s Coca-Cola Arena. This major event aims to bring together industry leaders, innovators, and enthusiasts to discuss the future of blockchain technology and cryptocurrency. Event Theme and Highlights The theme for this year’s conference is “Momentum.” According to Binance, the theme focuses on how momentum drives the industry forward, overcoming challenges and leading to significant achievements. The discussions will…