Hot Wallets Compromised, Cold Wallets Safe BtcTurk, a popular Turkish crypto exchange, was hacked on June 22nd. The hackers gained access to some of the exchange’s hot wallets, which hold a small portion of its assets. However, BtcTurk claims that its cold wallets, which store the majority of its funds, remain secure. $5.3 Million Recovered…
Ethereum’s Market Value According to CryptoQuant, an analytics firm, Ethereum’s Market Value to Realized Value (MVRV) indicator is rising faster than Bitcoin’s. This suggests that Ethereum’s market is gaining momentum. Historically, when Ethereum surges, other altcoins tend to follow suit. Bitcoin’s Support Level CryptoQuant also notes that Bitcoin is trading below the critical support level…
A Bank of America employee has been accused of illegally accessing customer accounts and selling their sensitive data, resulting in tens of thousands of dollars in losses. Employee’s Actions Manuel Alejandro Ramirez Perez, a former relationship banker and credit solutions advisor, is alleged to have accessed customer accounts without authorization between February 2020 and June…
Consulting firm McKinsey & Company predicts that the market capitalization of real-world tokenized assets could reach $2 trillion by 2030. Projected Growth McKinsey analysts estimate a potential market cap range of $1 trillion to $4 trillion by the end of the decade, excluding stablecoins. In 2018, the RWA sector was valued at just $1.5 billion,…
A California judge has dismissed class-action lawsuits against Ripple related to the sale of XRP, but has allowed one individual case to proceed to trial. Class Action Claims Dismissed Bradley Sostack, a former XRP investor, filed a class-action lawsuit in 2018, alleging that Ripple illegally sold XRP as an unregistered security and violated California advertising…
Crypto expert Willy Woo believes Bitcoin will rebound when: Weak Miners Exit the Market Miners with outdated equipment and high costs will go bankrupt. Others will be forced to upgrade to more efficient hardware. This happens after Bitcoin halvings, where miners’ income is cut in half. Miners sell their Bitcoin to cover losses or upgrade…
Bitcoin’s support level at $64,515 has become a strong resistance after being breached. This shift in market sentiment has traders wondering if Bitcoin can regain this level or face further declines. Current Market Conditions Bitcoin is currently trading at around $64,444, with a market cap of over $1.2 trillion. It has gained 0.47% in the…
Hackers Target 50 Cent’s Account Rapper 50 Cent recently revealed that his Twitter account was hacked and used to promote a fake cryptocurrency called GUNIT. He denied any involvement with the coin, claiming the hackers made millions of dollars from the scam. Fake Coin Explodes, Then Crashes Before 50 Cent’s announcement, many people traded GUNIT,…
Sharp Decline Dogwifhat (WIF), the Solana meme coin, has seen a significant drop in value this week, falling below $2. This double-digit decline reflects waning investor interest in the popular meme coin. Selling Pressure The crash has been driven by selling pressure from investors. Over $16 million worth of WIF tokens have been sold off…
US regulators have raised concerns about the contingency plans of major banks, including JPMorgan Chase, Bank of America, and Citibank, for managing trillions of dollars in derivatives. Inadequate ‘Living Wills’ The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) have found that the banks’ “living wills” – plans for winding down their operations without government…
