Bybit Faces $1.4B Hack; CEO Assures Solvency
Bybit CEO confirms all client assets are 1:1 backed after a significant $1.4 billion hack. The exchange is taking loans to manage withdrawals amidst increased traffic. Hackers executed the breach through a transaction signing manipulation, transferring $1.5 billion in wrapped ETH. All other wallets remain secured, and funds within are safe for normal operations. The situation has raised concerns similar to those seen before the FTX collapse. More details
In other news, U.S. Senate Banking Committee is set to discuss bipartisan crypto legislative frameworks on February 26. Source
#Bybit#Crypto#Bitcoin#ETH#Blockchain#Hack#DeFi#VPN#Web3#Finance#Regulation#Senate#Legislation#M2#BankRun#Assets#Investments#Security#Technology
Usual Protocol Announces Key Adjustments
Usual Protocol responds to user feedback with two significant changes:
1. Activation of a 1:1 early redemption feature starting next week.
2. Weekly revenue distributions to USUALx holders, with an estimated total of $5 million per month. Details can be found here.
Additionally, Kenya prepares to legalize cryptocurrencies, marking a policy shift towards embracing digital assets Read more.
#UsualProtocol#Cryptocurrency#Kenya#Crypto#Bitcoin#Blockchain#Finance#DeFi#Investment#Regulation#PolicyChange#Rewards#Earnings#DigitalAssets#Web3#Decentralization#Funding#Innovation#FinanceNews#VC
TRUMP MemeCoin Liquidation Begins
A trader who previously gained $360M from the $TRUMP meme coin is now liquidating holdings as the coin's market cap surpasses $15 billion. There's speculation on Trump's evolving stance on crypto, influenced by support from the crypto community. In related developments, Trump’s company has exchanged $32 million for Ethereum amid the meme coin wave, clearing $400M in transaction volume in just 12 hours, marking a surge in new user registrations for the platform.
#TRUMP#MemeCoin#Crypto#Ethereum#Bitcoin#Liquidation#MarketCap#Investments#Finance#USDC#Blockchain#Trading#Speculation#Altcoins#Investors#HODL#NewUsers#DeFi#OnChain#Volume
Syria Moves to Legalize Bitcoin
The Syrian transitional government proposes legalizing Bitcoin to combat inflation and attract investments. Plans include facilitating Bitcoin mining and integrating encrypted payment functions in banks. More details: Wu Blockchain News.
In related news, a significant sell-off of the Usual protocol's USD0 was triggered by a whale, briefly causing it to dip to $0.99 before re-pegging to $1. Read more: Wu Blockchain News
#Bitcoin#Syria#Crypto#Investment#EconomicRecovery#Mining#Regulation#Finance#USD0#WhaleTrade#Inflation#PaymentIntegration#Blockchain#Tech#Markets#Trends #2024
Bitcoin Supply Shrinks, Prices Rise
New York Times discusses Trump's interest in a federal Bitcoin stockpile. Current Bitcoin held on exchanges drops to 2.3M, the lowest in years, indicating tightening supply. More Bitcoin moving to long-term storage boosts prices. Read more by Documenting Bitcoin.
#Bitcoin#Crypto#VC#Trump#Stockpile#Supply#Exchange#Price#Storage#Market#Finance#Investing#Economy#Blockchain#DigitalAssets#HODL#Withdrawal
Market Clean-Up: Excess Leverage Purged
CryptoQuant and Glassnode confirm market 'cleaning' post-major liquidations. Reduced speculation indicates shift towards 'late bull run' phase. Read more: Forklog
#Crypto#Market#BullRun#Leverage#Trading#Speculation#Liquidation#Analytics#DigitalAssets#Investing#Blockchain#CryptoQuant#Glassnode#Finance#Ethereum#Bitcoin#Altcoins#News#Updates#AI#VC
Ashry Steel Group Secures Funding
*Ashry Steel Group* raises $46.15M in its latest funding round on December 19, 2024. For more details, visit their website here.
#AshrySteelGroup#Funding#Investment#SteelIndustry#Finance#Growth#Capital#Business#Economy#Market#IndustryNews#Corporate#InvestmentRound#Startup#FundingRound#Entrepreneurship#Innovation
Telegram Takes Over Blockchain Control
Telegram is ramping up its control over the TON blockchain by increasing the number of million-TON validators it operates. The minimum amount required to participate in validation has risen from 414K to 500K TON since December. This consolidation suggests a shift towards centralized management. Telegram has added 25 new validators in January, boosting its share of validators to over 66%. This move may simplify blockchain upgrades but raises concerns over decentralization. Telegram appears to be monetizing TON more directly, potentially selling it at discounts while maintaining income from accumulated TON investments.
#TON#Telegram#Blockchain#Crypto#Validation#Decentralization#Investing#DigitalCurrency#Transparency#Ecosystem#VC#Finance#Investment#Tokens#Cryptocurrency#Web3#Technology#Governance#Markets#Assets
Bitcoin and Ethereum ETF Trends
BTC ETF saw $157M outflow; ETH ETF gained $13M inflow. In 24 hours, 94K traders liquidated, totaling $169M, with the largest being $1.3M on Bybit for BTC/USDT. Notably, 4,135 #BTC ($399.8M) moved from #Coincheck to an unknown wallet. Gamestop plans to invest $4.6B in Bitcoin, raising its stock prices. Meanwhile, 1723HK shares surged 631% this year, naming new directors with Bitcoin ecosystem expertise.
#BTC#ETH#ETF#Crypto#Gamestop#Coincheck#WhaleAlert#HongKong#Investment#StockMarket#Trading#Liquidation#MarketTrends#Blockchain#Finance#Innovation#Directors#Performance#News#AI#VC
New Contracts and Crypto Predictions
🎉 Binance Futures launches COOKIEUSDT, ALCHUSDT, and SWARMSUSDT contracts with leverage up to 75x. Earlier, these coins appeared on Binance Alpha.
🔮 Crypto expert Arthur Hayes predicts a peak in the crypto market by March, fueled by over $600 billion in liquidity influx from the U.S. Fed. While he encourages traders to take risks, he warns of potential corrections by April due to tax implications and tightening liquidity.
🛠️ Backpack acquires FTX EU for $32.7 million, aiming to be the only regulated perpetual futures provider in Europe, set to launch in Q1 2025.
For further insights, check the linked sources below:
- Binance Futures announcement: Link
- Backpack acquisition news: Link
#Binance#Crypto#VC#Hayes#FTX#Europe#DeFi#Liquidity#Contracts#MarketPeak#Trading#Investing#Finance#SVM#Solana#Regulations#CryptoMarket
Bitcoin Skyrockets, Solana Surges 23x!
Bitcoin prices surged 700% over the past year, while Solana increased 230% from $10 to $230. Meme coins saw profits soar by 7,000-10,000%. The key to success lies in insights that are often hidden. 🪙💹
For comprehensive market insights, check out the channel ИКСЫ на SOLAN`e.
In other news, Danny Ryan joins Etherealize to enhance Ethereum onboarding. Additionally, 46,950 ETH (~$102M) was transferred from an unknown wallet, detailed here.
#Bitcoin#Solana#MemeCoins#Ethereum#ETH#Crypto#Investment#MarketInsights#WhaleAlert#DannyRyan#Etherealize#Growth#USD#Finance#Blockchain#DeFi#Altcoins#MarketTrends#Trading#InsiderInfo#VC
AI Infrastructure Opportunities Emerging!
New potential for large-scale AI infrastructure projects! 🤖🔗 While fears of AI replacing humans persist, the reality shows a need for collaboration. Specialized platforms are essential for this interaction. Check out inspirations for creating your own platform here.
Additionally, Nansen analysts report that 15,431 wallets experienced significant profit/loss on LIBRA: 86% lost $251M, while a few gained $180M.
Recent crypto updates: BTC ETF outflow: $64M, ETH ETF inflow: $19M. During the last 24 hours, 74K traders were liquidated, totaling $139M. Largest liquidation: ETH/USDT at $2M on Binance.
#AI#Crypto#VC#Blockchain#Investment#Finance#Tech#DataScience#MarketTrends#Nansen#Wallets#LIBRA#BTC#ETH#Liquidation#ETFs#ProfitLoss#Infrastructure#Innovation#DigitalEconomy#Trading