Tech titan Elon Musk has taken a playful turn on Twitter by delving into the world of Dogecoin. This unexpected move by Musk, known for his ventures in electric vehicles and space exploration, has sparked curiosity and excitement among his followers.
The launch of Bitcoin exchange-traded funds (ETFs) in the US has raised concerns about potential risks to the financial system. Experts warn that these ETFs could exacerbate volatility in the Bitcoin market and create systemic risks, causing ripple effects throughout the financial system.
Standard Chartered Bank has predicted a surge in the price of Ethereum (ETH) in the coming months, with expectations of reaching $4,000 by May. The bank’s research team believes that the approval of spot-based Ethereum ETFs in the United States will be a key driver for this increase.
The Ethereum blockchain platform has successfully implemented its Dencun upgrade on the Sepolia test network, following its deployment on the Goerli testnet. This upgrade introduces proto-danksharding, a new data storage mechanism called “blobs,” aimed at improving scalability and reducing transaction costs on the Ethereum network.
Abracadabra Finance, a DeFi platform, has suffered a security breach resulting in a loss of over $6.4 million. The attack exploited a flaw in the platform’s smart contract, allowing the attackers to borrow tokens without collateral.
Banmeet Singh, a 40-year-old Indian national, has confessed to operating a large-scale drug network on the dark web with global reach. His narcotics enterprise spanned continents and involved the sale of controlled substances to a global clientele.
South Korean cryptocurrency platform Somesing has experienced a significant security breach resulting in the theft of approximately $11.58 million worth of its native token, SSX. Around 730 million SSX tokens were stolen, with a notable portion being held by the Somesing Foundation. The platform suspects professional hackers specialized in targeting cryptocurrencies were involved.
Large investors, often referred to as ‘Bitcoin whales’, have reportedly accumulated approximately $3 billion worth of Bitcoin (BTC) this month. This significant increase in activity comes as Bitcoin exchange-traded funds (ETFs) experienced net inflows of $820 million in the same period. The data reveals that the amount of Bitcoin held in wallets owning over 1,000 BTC has surged by approximately 76,000 BTC. This substantial uptick in whale accumulation underscores the growing interest of large entities and investors in Bitcoin, particularly in the wake of several developments within the cryptocurrency market.
Tether Treasury has conducted a significant transfer of 230,000,000 USDT tokens to the popular exchange, Bitfinex. This transaction, valued at approximately $229,956,875, has garnered attention within the crypto community due to its substantial volume and potential implications for the market.
Recent large Bitcoin transfers to Coinbase Institutional and significant outflows from Grayscale’s Bitcoin Trust have sparked speculation about institutional activity in the crypto market.