Total crypto market-cap hits $850M as Bitcoin and altcoins recover from FTX’s collapse

The total cryptocurrency market capitalization gained 2% in the past seven days, reaching $850 billion. Even with the positive movement and the ascending channel that was initiated on Nov. 20, the overall sentiment remains bearish and year-to-date losses amount to 63.5%. Total crypto market cap in USD, 4-hour. Source: TradingView Bitcoin (BTC) price also gained a mere 2% on the week, but investors have little to celebrate as the current $16,800 level represents a 64% drop year-to-date. Bankrupt exchange FTX remained at the centerpiece of the newsflow after the exchange…

Polygon pays $2M bounty on bug which could have compromised $850M in user funds

White hat hacker Gerhard Wagner has earned $2 million after reporting a solution to a potentially costly “double-spend” bug on the Polygon network. In an Oct. 21 blog post from Immunefi, a security service that helps facilitate bug reports in decentralized finance projects, Polygon network’s Plasma Bridge was at risk of having $850 million removed by a knowledgeable hacker. According to the project, the vulnerability would have allowed attackers to exit their burn transaction from the bridge up to 223 times, quickly turning an amount like $4,500 into $1 million…

Bitcoin suddenly hits $60K as a new resistance battle liquidates $850M

Bitcoin (BTC) returned to $60,000 on April 10 as a bout of long overdue volatility hit the market in line with analysts’ expectations. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview “Being a bear is expensive” Cointelegraph Markets Pro and TradingView showed a sudden push allowing BTC/USD to exit the $50,000 corridor overnight on Friday. The move had been weeks in the making — a convincing attack on $60,000 resistance, the last before all-time highs, had previously failed to materialize before. Bitcoin is about to Bitcoin. ⤴️ $BTC pic.twitter.com/8IY19LdtmB — Alex…

SpaceX Valuation Increases to $74B as Company Raises $850M in Funds

SpaceX has completed another successful funding round which boosted its valuation. SpaceX, an Elon Musk’s company focused on space exploration and transportation, has just completed enormous funding of $850 million. This was made known by a report of CNBC that says the SpaceX valuation has now risen to as high as $74 billion. According to the report, the company was able to raise this level of funding by selling its shares for $419.99. This is just a cent less than when the founder declared that he had secured funding to…

New York Court Rejects Bitfinex Appeal Over $850M in Lost Funds

A New York Supreme Court has found that veteran cryptocurrency exchange Bitfinex and its related stablecoin company Tether (USDT) must face claims they concealed the loss of commingled corporate and client funds. The claims were brought by New York Attorney General Letitia James, who has accused firms associated with Bitfinex and several associated companies of hiding more than $850 million in lost funds. Bitfinex asserts that its funds were deposited with Crypto Capital — a Panamanian firm accused of providing shadow banking services to virtual currency exchanges — before being…