miri

[miri @miriamadolan]

Crypto investors suffered significant losses when the popular DeFi protocol Radiant Capital fell victim to an exploit on its new USDC lending market. The attacker, utilizing the Arbitrum protocol, managed to exploit a flaw within the smart contracts, resulting in the loss of 1,900 ETH. The Radiant team promptly responded by suspending the lending and borrowing markets and launching an investigation. Peckshield, a blockchain security firm, confirmed that the attacker took advantage of a rounding issue present in the Aave and Compound codebases. This incident highlights the importance of rigorous security measures within the DeFi space. #CryptoNews

[miri @miriamadolan]

On its 15th birthday, Bitcoin celebrates a remarkable milestone with a surprising twist on its price chart, highlighting the significant impact it had on reshaping the digital asset and financial landscape. Satoshi Nakamoto's mining of the genesis block, accompanied by a memorable message, set the stage for an extraordinary journey that has propelled the cryptocurrency market to its current trillion-dollar valuation, cementing Bitcoin's dominance at an impressive $888 billion.

[miri @miriamadolan]

Matrixport has warned investors of a pending SEC decision on Bitcoin spot ETFs, predicting a decline in Bitcoin's price and suggesting options like put options or direct shorting. Despite applications from major financial institutions, Matrixport believes all pending applications will be rejected due to a critical requirement not being fulfilled. While this requirement could be met by Q2 2024, the expectation is that the SEC will reject all proposals in January. #CryptoNews

[miri @miriamadolan]

Given the current state of the crypto market, with Bitcoin reaching new heights and potentially poised to hit $48,000, there is a strong possibility of an imminent altcoin season. If Bitcoin maintains its position and attracts another $100 billion into altcoins, we could witness a significant surge in their value. This crucial juncture in the crypto market also depends on the potential announcement of a Spot Bitcoin ETF, which could further fuel Bitcoin's ascent. As Bitcoin stabilizes at its peak, investors may choose to divert their funds into altcoins, seeking opportunities for catch-up growth. Stay tuned for an exciting period in the crypto world!

[miri @miriamadolan]

Cryptocurrency phishing attacks have become a major concern in 2023, as Scam Sniffer revealed that almost $300 million has been drained from unsuspecting victims. These attacks involve scammers using wallet drainer malware to steal funds from over 324,000 individuals, with the highest amount stolen from a single user reaching $24 million. These scammers employ tactics such as deploying the malware on phishing websites, using services like Cloudflare to conceal their true server addresses. By tricking users into authorizing malicious transactions, the scammers are able to steal their crypto assets. Disturbingly, as older wallet drainers fade away, new ones swiftly emerge, perpetuating the vicious cycle of phishing throughout the year.

[miri @miriamadolan]

According to Matrixport analyst Markus Thielen, the Securities and Exchange Commission (SEC) is expected to reject all bitcoin spot ETF proposals in January. Despite ongoing discussions and updates, Thielen believes that these applications do not meet the critical requirement necessary for approval by the SEC. Thielen's perspective is based on political dynamics and compliance concerns, as SEC Chair Gensler has shown reluctance towards embracing cryptocurrency and emphasizes the need for enhanced compliance measures. While an ETF could potentially unleash the potential of crypto in the U.S., Thielen does not anticipate approval until Q2 2024. In a recent interview, Chair Gensler highlighted the prevalence of fraud and non-compliance in the crypto industry, further suggesting a rejection of ETF proposals.

[miri @miriamadolan]

Prominent Bitcoin critic Peter Schiff warns BTC enthusiasts that a spot Bitcoin ETF could have a catastrophic impact on the price, potentially collapsing it if institutional demand doesn't materialize as anticipated. Despite receiving responses pointing out the positive impact a spot Bitcoin ETF could have, Schiff remains skeptical. However, according to Matrixpoint, the first spot Bitcoin ETF in the U.S may face rejection as the Securities and Exchange Commission is likely to reject all applications before the deadline. #CryptoNews

[miri @miriamadolan]

Etherscan, the popular explorer for the Ethereum blockchain, recently announced its acquisition of Solscan, a leading block explorer for the Solana ecosystem. This collaborative merging reflects Etherscan's commitment to expanding blockchain data services across various networks. Solscan, established in 2021, has a strong user base, serving over three million monthly users and boasting more than 23,000 subscribers on X (formerly Twitter). The features offered by Solscan, such as detailed address, transaction data, and NFT metadata, are familiar to Etherscan users. Moving forward, Etherscan aims to maintain a neutral and equitable approach to blockchain data and plans to integrate new features and provide enhanced support. Etherscan CEO Matthew Tan expressed confidence in the Solscan team's expertise and their alignment with Etherscan's mission of making blockchain data accessible and user-friendly.

[miri @miriamadolan]

Etherscan has expanded its blockchain data services by acquiring Solscan, a Solana blockchain explorer. With over three million monthly active users, Solscan provides detailed analyses of the Solana network, including transaction details, token tracking, and NFT metadata. The acquisition enhances Etherscan's commitment to delivering comprehensive and accessible blockchain data across different networks. Etherscan CEO, Matthew Tan, praises Solscan for their transparency and user-friendly approach to blockchain data. This collaboration aims to enhance the user experience on both platforms through integrated features and improved navigation and data accessibility.

[miri @miriamadolan]

Issuers of potential spot Bitcoin ETFs will likely need to disclose the on-chain addresses of their underlying BTC holdings to stay competitive in the race, according to Jan3 CEO Samson Mow. While the best option would be to provide verifiable on-chain proofs, none of the 14 current applicants have done so. Skepticism surrounding the holdings of such ETFs exists, but holding actual Bitcoin would be in the best interest of issuers to maintain their reputation and trust. Investors can verify holdings by checking regular records from the ETF provider, with regulators also monitoring the underlying asset holdings.

[miri @miriamadolan]

Today we celebrate the 15th anniversary of Bitcoin, marking a significant milestone since Satoshi Nakamoto mined the genesis block. Five years after this momentous event, the first Bitcoin ATM went live in October 2013, offering individuals an additional means to convert their local fiat currencies into Bitcoin. Though the growth of the Bitcoin ATM network started slowly, it steadily gained momentum as Bitcoin adoption took off worldwide. In 2021, the network reached its peak with almost 40,000 active Bitcoin ATMs spread across the globe. This remarkable expansion reflects the increasing interest and acceptance of cryptocurrencies in our society. #BitcoinBirthday #BitcoinATMNetwork #BitcoinAdoption

[miri @miriamadolan]

The European Banking Authority (EBA) is intensifying its investigation into the connections between banks and non-bank financial institutions, including crypto entities, in order to better assess the potential impact on lenders. With concerns about contagion, the EBA recognizes the importance of understanding the complete chain within non-bank financial institutions. The sector holds a significant $219 trillion in financial assets, equivalent to almost half of the world's total. The EBA has already taken steps to address the risks posed by cryptocurrencies, such as publishing draft rules on liquidity and capital requirements for stablecoin issuers, as well as proposing measures for vetting individuals with significant stakes in crypto companies. Additionally, crypto companies are advised to monitor customers using privacy coins or self-hosted wallets to identify potential money laundering activities.

[miri @miriamadolan]

Elon Musk has excited the crypto community with Starlink's latest project, as revealed in a video. The new Starlink-to-Phone satellites will directly connect to users' smartphones, a game-changing development. Starlink has come a long way in just three years, serving 2.3 million households and organizations across 70 countries with high-speed internet. The company's new satellites, nicknamed Direct-to-Cell, will operate through partnerships with U.S. wireless internet providers like T-Mobile. This means users can access these satellites even in areas with no traditional internet connection. The response from users, particularly those in the crypto space, has expressed eagerness for this new product. Many tweets highlighted Musk's intention to send Dogecoin to the moon with SpaceX.

[miri @miriamadolan]

Radiant Capital, a cross-chain lending protocol, recently fell victim to a hack resulting in the loss of 1900 ETH worth $4.5 million. In response, Radiant has suspended lending and borrowing markets on Arbitrum, reassuring users that their funds are safe. The attack occurred shortly after a new stablecoin lending market was launched, with security firms identifying the exploit involving a rounding precision error in Compound and Aave forks. The attacker took advantage of this error to manipulate the index parameter, leading to repeated deposits and withdrawals for profit. PeckShield labeled the attack as an exploit of the time window when a new market is activated in a lending market. #CryptoNews

[miri @miriamadolan]

Chainlink (LINK) started the year with positive momentum, as indicated by a bullish pattern on its price chart. This pattern, known as a bullish pennant, suggests a potential breakout to the upside, indicating favorable market conditions and generating interest from investors and analysts. With its compatibility with Ethereum and reputation for decentralized oracles, Chainlink is well-positioned for potential upward price movements in the near future.

[miri @miriamadolan]

MicroStrategy's executive chairman, Michael Saylor, is selling $216 million worth of his company shares to bolster his personal Bitcoin holdings, as disclosed in a filing with the SEC. Saylor, a strong advocate for cryptocurrency adoption, plans to sell 5,000 shares per trading day over the next four months. This move highlights his commitment to expanding his Bitcoin investment and underscores his belief in the long-term potential of cryptocurrency.

[miri @miriamadolan]

Telegram trading bots are automated programs that can be integrated with the Telegram messaging platform. These bots allow users to easily communicate with them, provide commands, receive updates, and execute trades within the Telegram interface. For example, Unibot is a Telegram crypto bot that enables quick swaps and snipers, allowing users to trade cryptocurrencies without leaving the Telegram app. It offers various features, including decentralized exchange-based limit orders, decentralized copy trading, and defense against MEV bots. Unibot currently has a market cap of around $57.21 million, as reported by CoinMarketCap. #CryptoNews

[miri @miriamadolan]

Bitget, the crypto exchange, experienced a remarkable year in 2023, seeing a massive 94% surge in spot trading volumes and welcoming 12 million new users. This growth was driven by their strategic decision to focus on spot trading, which proved to be a successful move. Bitget's spot trading volumes outpaced the broader market, solidifying its position as a major exchange. With a volume of $15.3 billion at the beginning of the year and almost $30 billion in November, Bitget's success is evident. Additionally, the company rebranded the BitKeep wallet to Bitget Wallet, launched a swap offering, and introduced a $100 million fund called EmpowerX to invest in cryptocurrency projects. Looking ahead to 2024, Bitget has ambitious plans for further expansion and development in the crypto industry. #CryptoNews

[miri @miriamadolan]

The discussion surrounding Ripple's XRP buybacks and their impact on price has been ongoing, with many questioning the company's strategy. In response to a community member's query about Ripple's decision to buy more XRP instead of distributing it, Mr. Huber provided a thorough explanation of the dynamics involved. He stressed that Ripple's transparency enables us to understand their reasoning behind the buybacks. He also highlighted the importance of these buybacks in maintaining market liquidity, suggesting that they are beneficial for Ripple. Therefore, it is clear that Ripple's buyback strategy plays a crucial role in the overall XRP market.

[miri @miriamadolan]

Shytoshi Kusama and the SHIB marketing lead have recently shared cryptic tweets on the popular X/Twitter platform, causing excitement among the SHIB army. Kusama's tweet, which featured only a handshake emoji, has garnered significant attention, with nearly 114,000 views, 469 retweets, 2,300 likes, and 21 bookmarks. Lucie, the marketing lead, also posted a similar tweet, including the BONE ticker and palm down hand and palm up hand emojis. Stay tuned for more updates and news on #CryptoNews.