The Seneca Protocol hacker has given back $5.3 million worth of Ether tokens after draining $6.4 million on Ethereum and Arbitrum networks. Initial investigations suggested that an approval mechanism bug in the protocol’s smart contract was exploited. The stablecoin protocol had recently confirmed roping in with law enforcement but offered leniency, stating the team wouldn’t...Read More
Crypto exchange Gemini has agreed to return a minimum of $1.1 billion to customers of its defunct Gemini Earn Program as part of its settlement deal with New York regulators. Gemini, led by Tyler and Cameron Winklevoss, is also facing legal issues from the US Securities and Exchange Commission (SEC) and the New York Attorney...Read More
In a recent filing, the U.S. Securities and Exchange Commission (SEC) has urged the Delaware bankruptcy court to reject Terraform Labs’ proposal to retain Dentons U.S. LLC as its special counsel. The SEC has raised concerns about the amount paid to Dentons, describing it as “suspicious.” SEC Raises Concerns Over TFL’s $166M Transfer The SEC...Read More
Online stock and crypto brokerage firm Robinhood has teamed up with the management team of the Ethereum-based layer-2 network Arbitrum to give its wallet users access to swaps on the protocol. According to a release seen by CryptoPotato, the duo announced the alliance on February 29 at the ETHDenver 2024 event in Colorado, saying the...Read More
The Shido blockchain, a layer-1 proof-of-stake project, has been hit by an exploit that saw billions of its native token, Shido, siphoned away. This incident led to the Shido token plummeting by 94% in value within just 30 minutes. Over 4.3 Billion Tokens Lost in Exploit According to reports from blockchain security firm PeckShield, the...Read More
Altcoins are moving slowly, but Bitcoin is powering ahead as the largest digital asset came just below $64,000 on Feb. 28. It has retreated slightly today, but the 25-month high has taken BTC to within 11% of its peak price of $69,000 in November 2021. The same cannot be said for the majority of the...Read More
Bitcoin surged past the $61,000 mark on Wednesday and even briefly tapped $64,000, marking a significant milestone not witnessed in over two years. Over the past month alone, the leading crypto asset has recorded gains exceeding 45%, propelling the total market value above $2 trillion for the first time across the same period. Driving this...Read More
Major cryptocurrency exchange Coinbase said that the platform was beginning to function normally after experiencing a technical glitch, causing users to see zero balances on their accounts. The issue has been attributed to an increase in traffic after the price of Bitcoin briefly touched around $64,000 before retracing. Zero Balances on Coinbase Earlier on Feb....Read More
The Chamber of Digital Commerce (CDC) has filed an amicus curiae to defend Kraken in a lawsuit the U.S. Securities and Exchange Commission (SEC) initiated in 2023. Notably, the CDC supported the crypto exchange’s motion to dismiss the lawsuit in its latest filing. Chamber of Digital Commerce Argues for Kraken In a February 27 filing,...Read More
Ripple partnered with the Axelar Foundation to boost interoperability within the XRP Ledger (XRPL) blockchain, with a specific emphasis on advancing the tokenization of real-world assets (RWAs). The integration of the Axelar network with the XRPL aims to strengthen the layer 1’s DeFi ecosystem by providing necessary liquidity for stablecoins and high-value assets. Meanwhile, the...Read More
The development team behind Dogecoin spinoff Shiba Inu has introduced a new tool for enhancing user privacy in the SHIB and Web 3 ecosystems. The innovation, known as “Fully Homomorphic Encryption (FHE) brings “complete on-chain data protection.” to members of the SHIB community, according to a press release shared with CryptoPotato. SHIB has launched the...Read More
BlackRock’s Bitcoin (BTC) ETF has cracked a new daily inflow record, helping push Bitcoin’s above $60,000 for the first time since November 2021. The iShares Bitcoin Trust (IBIT) absorbed another $520 million on Tuesday, bringing the fund’s total flows since launch above $6.5 billion. Furthermore, thanks to Bitcoin’s rising price during that period, the value...Read More
COTI Foundation has just announced the target use cases and focus areas for its $100 million development fund, all of which will be allocated in COTI tokens. According to a press release shared with CryptoPotato, there will be a selection process for projects who want to apply for funding, and it will be open to all developers,...Read More
The Crypto Fear and Greed Index has shown that investors are currently as greedy as they were more than two years ago when Bitcoin (BTC) hit its all-time high of $69,000. According to data on Alternative.me, crypto market sentiment is now as high as 82, representing a period of extreme greed among investors amid BTC’s...Read More
Bitcoin’s supply-in-profit ratio is very high at the moment, as reported by on-chain analytics firm CryptoQuant on Feb. 28. It noted that the current ratio is the same as the ratio recorded at the peak of the “echo bubble in 2019” and the beginning of the bull market in 2020.” Furthermore, it is approaching levels...Read More
The Blast network’s layer 2 project, RiskOnBlast, has been scrutinized due to suspicions of a potential rug pull scam surfacing. The incident has left investors reeling from significant losses estimated at around 420 Ether (ETH), equivalent to approximately $1.25 million at current market rates. Rug Pull Suspicions The incident began when community members noticed the...Read More
Bitcoin’s fast-rising price is attracting traders and speculators back into the market, on-chain data suggests. In a Tuesday newsletter, blockchain intelligence firm Glassnode highlighted how risk appetite is increasing across various cohorts of the Bitcoin market, including institutional buyers and short-term holders alike. Bitcoin Holders Back In Profit Since the start of the year, Bitcoin...Read More
Deposits made to Tornado Cash using IPFS gateways through IPFS gateways like – ipfs.io, cf-ipfs.com, and eth.link – may have been compromised, potentially exposing users’ deposited funds to risk, according to pseudonymous Tornado Cash developer ‘Gas404.’ Affected users were advised to take immediate action to safeguard their deposits. User Deposits Vulnerable According to a blog...Read More
The Virtual Asset Trading Platform (VATP) is a license provided by the government of Hong Kong that allows crypto exchanges to operate within the bounds of the region. Although the license has been available for several years now, only two exchanges – HashKey and OSL – are currently in possession of one. A number of...Read More
Ethereum has witnessed a notable surge in the past week as its Layer 2 TVL nears the $30 billion milestone with sustained momentum. As shown by L2Beat, the cryptocurrency, second only to Bitcoin in market capitalization, has shown an upward trajectory. It is worth highlighting that assets and tokens associated with its ecosystem have also...Read More
Bitwise research analyst Ryan Rasmussen projects a 50% probability of spot Ethereum ETFs receiving approval from the U.S. Securities and Exchange Commission (SEC) in May. Furthermore, he anticipates Bitcoin reaching $88,000 by the conclusion of 2024. Ethereum ETF Approval Hangs in the Balance In a recent interview on Yahoo Finance, Rasmussen emphasized that ETFs are...Read More
As Bitcoin notched over 10% daily gains, the trading volume of nine BTC ETFs reached a record high. “New Nine” recently launched spot Bitcoin exchange-traded funds (ETFs), except for Grayscale’s GBTC, experienced a daily trading volume of $2.4 billion. This marked a new peak and nearly twice the usual daily volume, as per analysis by...Read More
The crypto market may be at the onset of an altcoin season, say analysts at crypto exchange Bitfinex, due to Ether’s (ETH) latest performance. According to this week’s Bitfinex Alpha report, the resurgence in ETH’s value is rekindling investor interest in the broader altcoin market, indicating a shift in focus from Bitcoin (BTC) to other...Read More
The cryptocurrency market is heating up. Many charts are going verticle as Bitcoin’s price topped $57K for the first time in years. As CryptoPotato reported, Bitcoin has been sidelined for a while, but the cryptocurrency exploded by more than 9% in the past 24 hours alone, bringing most of the market with it. This has called for...Read More
According to attorney Scott Johnsson, the U.S. Securities and Exchange Commission (SEC) may greenlight an Ethereum (ETH) spot ETF as soon as May 2024. Johnsson estimates that approval could be expected by mid-2025 if this timeline is unmet. Spot Ethereum ETF Approval May Follow BTC’s Timeline In his post on X, Johnsson highlighted the SEC’s...Read More
Solana-based investment products had seen steady inflows throughout the year after intensive performance and reliability improvements. However, investor confidence took a hit due to a network outage lasting five hours earlier this month, caused by a bug that caused transactions to enter an infinite loop, thereby impacting the network’s functionality. Solana’s Troubles Continue Among altcoins,...Read More
Hong Kong-based cryptocurrency exchange BitForex has stopped all withdrawals for at least three days, leaving users puzzled and worried about the safety of their assets. This incident was revealed when blockchain sleuth ZachXBT flagged suspicious activity on the platform, sparking fears of a potential exit scam. Exit Scam Suspicions and Halted Withdrawals ZachXBT, in a...Read More
Could Bitcoin ETFs become larger investment vehicles than gold ETFs? Bloomberg analysts say it might happen in as quickly as under 24 months. Will Bitcoin Pass Gold? In a post to X on Monday, Bloomberg ETF analyst Eric Balchunas outlined how Gold ETFs have been gutted in recent weeks precisely as Bitcoin ETFs have absorbed...Read More
After an impressive run, spot Bitcoin ETFs appear to have hit a snag as inflows saw a minor reduction. Lookonchain’s latest analysis reveals a concerning trend in the cryptocurrency market as Bitcoin ETFs experience a significant decrease in inflows. Bitcoin Inflows Hit Snag According to the provided data, only 18,477 BTC, equivalent to $951 million,...Read More
Ether’s (ETH) latest price rally and surge past the $3,000 level has been followed by whales on an accumulation spree. A tweet from on-chain analytics platform Lookonchain revealed that ETH whales withdrew over $64 million worth of the crypto asset in the last six days for different purposes, including staking. ETH Whales Withdraw $64.2M According...Read More
