Bitcoin shows its volatility once again, tumbling back to $67,000 in overnight decline

Bitcoin offices are seen in Istanbul, Turkey, on February 28, 2024.  Umit Turhan Coskun | Nurphoto | Getty Images Bitcoin suffered a steep drop in overnight trading, showing that the world’s largest cryptocurrency hasn’t shaken its tendency for big drops despite continuing to gain acceptance within the mainstream financial world. Data from Coin Metrics shows bitcoin was trading above $72,000 late Thursday night before falling to about $67,000 on Friday, a decline of roughly 7%. Stock Chart IconStock chart icon Bitcoin fell sharply overnight after trading above $72,000 on Thursday.…

Shiba Inu Just Spiked 12% Overnight

People who are interested in investing in cryptocurrencies are shifting their attention to possible chances in the market as the holiday season draws near. As a noteworthy option for seasonal gains, Shiba Inu (SHIB) has a distinctive combination of appeal, volatility, and prospective returns. Lead developer of Shiba Inu, Shytoshi Kusama, recently provided insight into the meme coin’s endeavors as it progresses in the cryptocurrency space. Kusama Unveils Shiba Inu Community’s Ingenuity Kusama, a well-known figure in the cryptocurrency sector, provided some new perspective into the remarkable efforts made by the…

FTX and Alameda Research wallets send $13.1M in crypto to exchanges overnight

The crypto wallets linked to now-defunct crypto exchange FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous crypto exchanges early on Nov. 1. According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000). FTX and Alameda linked crypto deposit on Coinbase. Source: SOC The wallet addresses of FTX and Alameda Research made another $5.49 million…

ETF filings changed the Bitcoin narrative overnight — Ledger CEO

Over the past 12 months, some investors learned the hard way why they needed to move their crypto offline. Those who kept Bitcoin (BTC) and altcoins on crypto exchanges like FTX lost control of their assets, sometimes forever. Events drew a red line under the storied crypto adage: “Not your keys, not your coins.”  FTX’s loss was hardware wallet manufacturer Ledger’s gain, however. The Bahamas-based exchange’s November 2022 bankruptcy filing delivered to Ledger “our biggest sales day ever,” the firm’s chief experience officer, Ian Rogers, told Cointelegraph, and “November turned…

North Korean crypto hacks down 80% but that could change overnight: Chainalysis

Cryptocurrency stolen by North Korea-linked hackers is down a whopping 80% from 2022 — but a blockchain forensics firm says it isn’t necessarily a sign of progress. As of Sept. 14, 2023, North Korea-linked hackers have stolen a total of $340.4 million worth of cryptocurrency, down from a record $1.65 billion reported funds stolen in 2022. Cryptocurrency funds stolen by North Korean-backed groups between 2016-2023. Source: Chainalysis “The fact that this year’s numbers are down is not necessarily an indicator of improved security or reduced criminal activity,” Chainalysis said in…

How A $100 Million Memecoin Became Worthless Overnight

On July 30, a meme coin called BaldBaseBald (BALD) launched on Base Network, Coinbase’s new Layer 2 built on Optimism. The coin referenced Brian Armstrong, Coinbase’s “bald” founder, and quickly became a coordination point for speculators on the frontier chain.  Within two days, the token had reached a market cap of $100 million, with over $25 million in liquidity. However, the token’s meteoric rise turned out to be a classic case of market manipulation, as the deployer behind the token, BaldBaseBald, rug pulled the token and caused its price to…

Alameda wallets funnel over $1.7M via crypto mixers overnight

30 cryptocurrency wallets linked to Alameda Research, the bankrupt sister company of crypto exchange FTX, became active on Dec. 28 following four weeks of inactivity. These wallets swapped and mixed over $1.7 million worth of crypto assets through various crypto-mixing services. Crypto mixers are often used by market exploiters and criminals to obscure the transaction path so that the funds cannot be traced to the original source. As Cointelegraph reported on Dec. 28, the sudden movement of funds from Alameda wallets just days after Sam Bankman Fried was released on…