Uncategorized Archives - Page 8 of 136

ThursdayMar 13, 2025 9:00 am

Hackers from North Korea Convert 20% of Their ByBit Loot into Cash

The Lazarus Group, believed to be linked to North Korea, has turned at least $300 million from their recent $1.5 billion cryptocurrency hack into funds that are now impossible to recover. The hackers managed to steal the massive sum after breaching the ByBit crypto exchange. Since the attack, investigators have been racing to block the hackers from converting the stolen digital assets into cash. According to experts, the group is working nearly nonstop, possibly channeling the funds into North Korea’s military operations. Dr. Tom Robinson, co-founder of the crypto analytics firm Elliptic, explains that the hackers are using advanced techniques…

TuesdayMar 11, 2025 9:00 am

Trump Signs Executive Order Setting Up Bitcoin Reserve

President Donald Trump recently issued an executive order to set up a strategic crypto reserve using digital assets already in the government’s possession. The strategic reserve will consist of Bitcoin (BTC) previously confiscated by the government through criminal and civil asset seizures, according to White House cryptocurrency advisor David Sacks. This decision has disappointed some investors who had expected a concrete plan for acquiring new assets. Following the news, Bitcoin’s value dropped by approximately 5%, reaching $85,000. However, it rebounded to $89,200 later on. The executive order leaves room for potential future Bitcoin purchases. A White House fact sheet states…

FridayMar 07, 2025 10:00 am

The Energy Demand of Crypto Mining is Raising Concerns

Crypto mining has been outlawed in Abkhazia, yet it continues to thrive due to the region’s low-cost hydropower. Abkhazia already faces power shortages, especially in winter when water levels drop. The round-the-clock energy demand of cryptocurrency mining has worsened these outages. Power blackouts have become routine, initially lasting four hours daily in November but stretching to nearly ten hours by mid-December. Mining digital currencies requires powerful computers to perform countless calculations every second. The more processing power involved, the higher the electricity consumption. While Abkhazia’s situation is extreme, it reflects a global trend. Cryptocurrency mining is expanding rapidly, driven by…

ThursdayMar 06, 2025 10:00 am

Markets Soar as Trump Proposes 5 Cryptos for Inclusion in National Reserve

U.S. President Donald Trump has announced the selection of five cryptocurrencies for his proposed national digital asset reserve, causing their values to surge. In a statement on his Truth Social media platform, Trump revealed that Ethereum, Bitcoin, Solana, Cardano, and XRP will be part of the “Cryptocurrency Strategic Reserve.” The announcement follows an executive order Trump signed in January which aimed to explore the establishment of a national stockpile of digital assets. He emphasized that the move would strengthen the cryptocurrency sector, which he claims suffered from unjust policies under the previous administration. Following the announcement, Cardano’s price spiked by…

TuesdayMar 04, 2025 10:00 am

President Trump to Host Crypto Roundtable This Week

President Donald Trump is set to host a cryptocurrency summit, as announced by the White House. The March 7 event will be led by David Sacks, the White House’s lead on cryptocurrency and artificial intelligence, along with Bo Hines. Trump himself will also address attendees during the summit, according to the White House statement released on Friday. The summit will include top figures from the cryptocurrency industry, such as CEOs, founders, and investors. While the White House did not disclose all participants, the event follows a significant milestone for Sacks, who spoke publicly for the first time as Trump’s crypto…

FridayFeb 28, 2025 10:00 am

Crypto Market Loses $110bn as Trump Slaps Tariffs on Canada and Mexico

The cryptocurrency market experienced a sharp decline on Monday, erasing over $110bn in value as Bitcoin (BTC) and altcoins dropped to their lowest levels in weeks. This sudden downturn followed a period of stability and was driven by growing economic concerns and unsettling developments within the crypto asset sector. Leveraged positions lost $882 million as a result of the sell-off, making it one of the biggest liquidations in recent weeks. Over 284,000 crypto traders were forced to exit their trades, with those holding long positions suffering the most severe losses. Bitcoin’s value plummeted from $96,954 to a monthly low of…

ThursdayFeb 27, 2025 10:00 am

Coinbase Says the SEC is Dropping its Case Against the Exchange

Coinbase, the largest crypto exchange in the U.S., announced on Friday that the SEC intends to drop its lawsuit against the exchange. This decision indicates a shift in regulatory approach under the Trump administration, which appears to be more supportive of the industry. In a statement named “Righting a Major Wrong,” Coinbase revealed that SEC officials had reached a preliminary agreement to dismiss the lawsuit that was originally filed during President Biden’s tenure. The lawsuit accused the exchange of operating as an unregistered securities broker. However, the SEC still needs to hold a formal vote to officially drop the case.…

TuesdayFeb 25, 2025 10:00 am

ByBit Suffers $1.5bn Hack, the Largest Heist So Far

Crypto exchange Bybit suffered a major security breach on Friday, resulting in the theft of nearly $1.5 billion worth of Ethereum. The exchange reported that on February 21 at around 12:30 PM UTC, unauthorized access was detected in one of its Ether Cold Wallets during a routine transaction. The transfer was intended to move Ether from Bybit’s EtherMultisig Cold Wallet to its Hot Wallet. However, the transaction was compromised by an advanced cyberattack that tampered with the smart contract’s logic and manipulated the signing interface, allowing the hacker to seize control of the Cold Wallet. As a consequence, more than…

FridayFeb 21, 2025 10:00 am

ESMA Invites Public Input on Draft Standards for Cryptocurrency Service Providers

The European Securities and Markets Authority (ESMA) is inviting public input on proposed standards regarding the knowledge and qualifications required for cryptocurrency service firms. In a consultation paper published on February 17, ESMA introduced new guidelines aimed at ensuring that professionals working for crypto service firms possess the necessary expertise and training to offer guidance or information on digital assets. The goal of these regulations is to establish a baseline level of competency among employees providing such services, reinforcing investor protection and enhancing confidence in the crypto market under the EU’s Markets in Crypto-Assets (MiCA) framework. Given the unpredictable nature…

ThursdayFeb 20, 2025 10:00 am

GameStop Considers Bitcoin, Other Crypto Investments

Video game company GameStop is reportedly looking into investing in Bitcoin and other cryptos. Insiders say GameStop is assessing various investment opportunities, particularly in alternative assets like crypto, with a strong focus on Bitcoin. Following these reports, GameStop’s stock surged by nearly 20%. Despite the buzz, GameStop has not yet made a final decision. The firm is still assessing whether such investments align with its overall business strategy, according to one source familiar with the situation. Further raising speculation, Ryan Cohen, GameStop CEO, posted a photo on X alongside Michael Saylor, the co-founder of MicroStrategy, a company known for its…