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After leaving crypto liquidity firm GSR in 2023, former Millennium and Pimco executives are coming back to crypto by launching a dedicated advisory firm. Source link
$20 million worth of crypto held by U.S. government wallets were transferred to a wallet that has since sent one-third of the assets to exchanges. An Ethereum wallet controlled by the U.S. government appears to have been hacked. On Oct. 24, Arkham, an on-chain intelligence platform, flagged that $20 million worth of USDC, aUSDC, USDT, and ETH was “suspiciously” transferred from a wallet linked to the U.S. government. The U.S. government wallet previously seized funds linked to the attackers behind the 2016 Bitfinex hack from nine separate seizures. “The funds were moved to wallet 0x348 which has begun selling the funds to…
Crypto in South Korea continues to draw attention due to the high delisting rates and the financial risks posed to investors. Over the past seven years, 34.9% of cryptocurrencies listed on South Korean exchanges were delisted, with half surviving less than two years. While initial listings on these exchanges often led to short-term price boosts due to increased investor attention and demand, the long-term prospects are far less certain. South Korean Investors Suffer Crypto Delistings This trend is troubling for investors who may rush to buy new coins following a listing, expecting sustained growth. A typical pattern emerges where the…
There has been a dramatic retracing on the cryptocurrency market, with Bitcoin momentarily falling below the crucial $67,000 mark, leading to extensive liquidations. The liquidation of over $193 million in positions, the majority of which were long positions, suggests that the bullish momentum may be waning. Following its recent surge, traders are beginning to cash out or face forced liquidations, indicating hesitancy on the part of Bitcoin, which is frequently referred to as digital gold. According to the liquidation heatmap, Bitcoin comes in second, with $46.75 million in liquidated positions, while Ethereum leads with $57.43 million. This indicates that there…
Fraudsters impersonated agents to con professional football clubs, totaling €60,000 in redirected salaries to their accounts. A major fraud trial involving crypto and diamond investments has opened in France, bringing over 20 defendants to court on charges of defrauding 1,300 individuals and several top-tier football clubs. According to local media, the proceedings began on Oct. 21 in a conference center in Nancy, eastern France, due to the large number of plaintiffs involved. The accused are alleged to have orchestrated a complex scheme between 2016 and 2018 that stole approximately €28 million ($30 million) from victims. The operation involved creating fraudulent websites…
In August, Ripple’s long-running legal battle over XRP saw a major development. However, with the U.S. Securities and Exchange Commission (SEC) likely to appeal, a new chapter may begin. Former SEC attorneys shared details into the agency’s potential appeal strategy, focusing on programmatic sales and their classification as unregistered securities. Fox Business journalist Eleanor Terrett took her X handle and revealed that a former SEC lawyer who recently left the agency says the SEC will “probably” appeal Judge Torres’s July 2023 ruling on XRP programmatic sales in the Ripple case. According to him, many at the SEC believe the ruling…
The cyberattack on crypto exchange WazirX in July, that led to a loss of about Rs 2,000 crore in digital assets, had originated from their end, according to its security partner and digital asset custody company, Liminal Custody. In Short Liminal Custody, a digital asset custody company, has claimed the cyberattack that hit its security partner and cryptocurrency exchange, WazirX, happened at the latter’s end as per audit findings. A comprehensive review of Liminal Custody’s web application, including its front end, User Interface (UI) and backend was conducted by audit firm Grant Thornton. The audit firm said it did not find any…
A cryptocurrency investor earned $131.72 million by buying Ether during the 2022 market downturn and holding onto it through two years of market uncertainty. Blockchain analytics firm Lookonchain identified the investor’s wallet, highlighting the risks of panic selling. This individual, described as having “diamond hands,” held onto 96,639 ETH purchased from Coinbase in early September 2022 when Ethereum was priced around $1,567. By adopting a long-term holding strategy, the investor acquired $151.42 million worth of ETH. In March 2024, they transferred 70,000 ETH—about 72% of the original purchase—into Kraken, when Ether was trading at $3,062. This transfer was worth $214.34 million. The investor still…
The partnership targets real-time visibility into asset reserves, regulatory compliance, and seamless interoperability across different blockchain networks. Key Takeaways Chainlink Labs and Fireblocks have joined forces to deliver a comprehensive technology solution for issuing and managing stablecoins, as announced by Chainlink on Tuesday. The integrated platform combines Fireblocks’ secure custody and management capabilities with Chainlink’s decentralized oracle network to provide a single, end-to-end solution for stablecoin issuers. “Chainlink and Fireblocks offer a powerful suite of technology services that, when combined, are poised to accelerate market growth for all forms of tokenized money, such as stablecoins,” Angie Walker, Global Head of Banking and…
The Polygon Network recently underwent a technical upgrade to migrate their native token from MATIC to POL. Following the migration, the new token’s price struggled to gain momentum, failing to reclaim the $0.39 resistance level. However, Binance’s recent listing of POL has pumped its price above key levels. Binance Completes Polygon Token Migration On Friday morning, global exchange Binance completed the token migration from MATIC to POL. The exchange had stated it would support Polygon’s token swap by delisting all MATIC trading pairs and suspending deposits and withdrawals on September 10. Additionally, the platform revealed it would add POL spot trading pairs…