News

Major liquidity provider Wintermute has become the latest cryptocurrency firm to suffer a security breach in recent months.  Attack to Be Treated as a "White Hat" Hack Earlier this morning, CEO of Wintermute Evgeny Gaevoy took to Twitter to share the news. In a series of tweets, Gaevoy explained that only their DeFi protocols had been affected. Their CeFi and OTC activities remain up and running. About 90 assets were compromised, with a little over 160 million USD siphoned off…

Ripple – the blockchain technology company behind XRP – is seeking dismissal of the Security and Exchange Commission (SEC)’s 2020 lawsuit against the firm. It claims that XRP does not constitute an “investment contract”, and thus cannot be called unregistered security.  Can Ripple End the Lawsuit? As reported by BNN Bloomberg, Ripple’s weekend filing claims XRP investors do not have rights, and that Ripple is not required to act in their interests. It cited a lack of documents imposing such…

Ethereum addresses generated by an abandoned Ethereum vanity tool have been stripped of over $3 million in assets by exploiters. The tool – called “Profanity” – used an insecure method for generating public keys, from which users’ private keys could be extracted.  Unsafe Keys The popular decentralized exchange aggregator 1Inch first noted the vulnerability on Thursday, just hours before it started being exploited.  “Run, you fools,” tweeted 1Inch. “Your money is NOT SAFU if your wallet address was generated with…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $962 billion. Bitcoin has decreased by nearly 9% this week. Ethereum lost almost 20% over the past seven days. XRP is up by nearly 8% this past week. Almost all altcoin s are trading in the red, with few exceptions. The DeFi sector dropped the total value protocols (TVL) to around $27 billion. Crypto…

Prolific Bitcoin supporter Michael Saylor says Bitcoin is a better investment option than any physical asset for commoners. According to the entrepreneur, only those who come from royalty can handle the numerous factors involved in owning physical property.  The former CEO of MicroStrategy outlined some setbacks involved in transferring property like stocks, equity, real estate, or gold. Speaking at the Australian Crypto Convention, Saylor contrasted these physical assets against Bitcoin. He opined that Bitcoin is a more adaptable asset to…

The White House has unveiled its digital asset development framework, outlining the benefits and risks of cryptocurrency in the United States. It presents key priorities and specific measures that the administration will use to guide its management of the industry.  The White House Plan for Crypto The framework presented on Friday is a follow-up to President Biden’s crypto executive order (EO) in March. The EO called on various government agencies to conduct research into how to develop a framework around…

Securities and Exchange Commission (SEC) Chairman Gary Gensler had some chilling comments for proof of stake cryptocurrency issuers on Thursday. The chairman suggested that a proof of stake (POS) consensus mechanism can bring a given cryptocurrency closer to security status. Thus, it would compel the project to operate under the commission’s laws and jurisdiction.  Bad News for Ethereum? The chairman reportedly shared his thoughts on POS cryptocurrencies with reporters after a congressional hearing. They would also coincide with the day…

After months of anticipation, September 15, 2022 finally saw the merger of the Ethereum mainnet execution layer and the Beacon Chain’s consensus layer. The Merge finally ushers in the days of Ethereum’s proof-of-stake (PoS) consensus mechanism. This renders defunct the proof-of-work (PoW) consensus for the Ethereum network. In his celebratory and congratulatory tweet, Ethereum’s co-founder, Vitalik Buterin, said the Merge “is a big moment for the Ethereum ecosystem.” And the NFT community did not hesitate to prove this fact. https://twitter.com/VitalikButerin/status/1570306185391378434?s=20&t=Lqq0NpxNi6-KQDE65m5zMA…

With Ethereum’s long-anticipated Merge finally complete, the network’s miners may have already found a new home in Ethereum Classic. The original Ethereum chain saw its hash rate explode following Thursday’s monumental upgrade.  Inheriting Ethereum’s Miners According to data from 2Miners, Ethereum Classic’s hashrate is now up to 305.65 terrahashes per second (TH/s). On late Wednesday, it stood at just 80 TH/s.  For context, 1 terrahash is equal to 1 000 000 000 000 hashes. These are guess answers generated by…