US Senate Confirms Paul Atkins as SEC Chairman The US Senate confirmed Paul Atkins as chairman of the Securities and Exchange Commission (SEC) by a vote of 52-44. Atkins stressed that establishing a regulatory framework for digital assets would be a top priority. His consulting firm has previously worked with crypto exchanges and DeFi platforms.
World Liberty Sells ETH at a Loss Data from Arkham shows that a wallet suspected to be linked to World Liberty sold 5,471 ETH ($8.01 million) at a price of $1,465. Previously, World Liberty had invested around $210 million to purchase 67,498 ETH at an average price of $3,259. With ETH's price decline, WLFI is now facing a potential loss of around $125 million. Even a project as big as WLFI had to cut their losses
🎥Ronin Network Hack (2022) - $625 Million Gone! Lazarus rocked the crypto world with the biggest hack in history! They broke into Axie Infinity's Ronin blockchain bridge and drained $625 million in ETH and USDC. The attack exposed how vulnerable the DeFi ecosystem is to high-profile hacks.
🎥 Horizon Bridge Hack (2022) - $100 Million Swept Away! Harmony Protocol is the next victim! Lazarus managed to exploit a security hole in the Horizon Bridge and made off with $100 million in various crypto assets. Forensic investigations show their typical pattern of laundering stolen funds.
🎥Atomic Wallet Breach (2023) - Hundreds of Millions of Dollars Gone! Atomic Wallet users are shocked by the mysterious disappearance of funds! Lazarus is back at it again, draining over $100 million from users' wallets worldwide. Using sophisticated techniques, they cover their tracks and convert stolen funds through mixers to avoid detection.
🎥 Stake.com Hack (2023) - $41 Million Gone in Minutes! Crypto gambling platform Stake.com was not spared. Lazarus hacked into the system and siphoned off $41 million in various cryptocurrencies. This hack shows that even big platforms can fall victim to them.
🕵️♂️ Who's Next? Lazarus is relentless in hunting for security holes in the crypto world. Is your favorite platform next in line to be targeted? It's time to beef up your asset security before it's too late! 🚨
SEC approves Nasdaq, CoinShares XRP ETF applicationsThe U.S. Securities and Exchange Commission (SEC) has approved Nasdaq’s application for a CoinShares XRP ETF and opened a 21-day public comment period. The application follows a Form 19b-4 filed by Nasdaq to propose rule changes related to the listing of CoinShares XRP and Litecoin ETFs. While this acceptance does not guarantee approval, it does indicate a possible change in the SEC’s stance on crypto investment products. Additionally, companies such as 21Shares, Grayscale, and Bitwise have also filed applications for spot XRP ETFs. The SEC previously rejected Solana's ETF application and is expected to remain cautious about new crypto ETFs, especially given the ongoing legal dispute with Ripple Labs Source @OriNeko
🔥 FIRST CZ POST AFTER 4 MONTHS: CZ has returned to X in true crypto fashion posting “gm” as his very first post. $BNB $EDU #Menuju7TahunBinance #Binance
Binance founder Changpeng Zhao (CZ) is set for early release, two days ahead of schedule.
While CZ has stepped back from daily operations, he remains the majority shareholder.
The news has already boosted BNB’s price by 2%, with analysts predicting a potential 20% surge, possibly driving the price to $722 following CZ’s release.
1. Fed Interest Rate Cut: The Fed cut interest rates by 50 basis points, signaling the start of a monetary easing cycle. This move is aimed at supporting economic growth and the labor market, but it raises concerns about potential inflation resurgence in the bond market.
2. US GDP Growth: The US economy grew by 3% annually in the second quarter of 2024, driven by strong consumer spending and private investment. However, inflationary challenges remain, and the Fed must balance between supporting growth and controlling inflationary pressures.
Impact on Bitcoin Price Predictions: With Bitcoin’s breakout at the $65,000 level, the Fed’s monetary easing policies could push risky assets like Bitcoin higher.
Several factors support the potential rise in Bitcoin prices going forward:
1. Monetary Easing: The Fed’s looser monetary policy creates additional liquidity in the market, which often leads to higher prices for risky assets, including cryptocurrencies like Bitcoin. Investors might turn to Bitcoin as a hedge against potential inflation from such easing.
2. Inflation and Digital Gold: With ongoing inflation concerns, Bitcoin may increasingly be seen as “digital gold” by investors seeking to preserve the value of their assets. If inflation continues to rise, demand for Bitcoin as an alternative asset could grow, pushing prices higher.
3. Market Trends: If market sentiment remains positive, Bitcoin could continue to break through the next resistance levels. With the stock market showing strong performance and ample liquidity due to the Fed's easing policies, Bitcoin has the potential to reach even higher price levels.
Overall, the breakout at $65,000 paves the way for further potential increases, especially if the Fed’s easing policies continue and investors view Bitcoin as a hedge against inflation and economic uncertainty.
Gensler Calls Bitcoin a Security in Recent Appearance For the crypto sector in the United States, regulation has been an ongoing issue. The industry has struggled, specifically under the current SEC regime. Often leaning on enforcement for regulatory standards, the agency has continually ruled over the emerging market with an iron fist.
That stance took an interesting turn Thursday. Speaking to CNBC, SEC Chair Gary Gensler said that Bitcoin was a security. Indeed, the statement comes after the agency approved Spot Bitcoin ETFs earlier this year. Those products became the first crypto-based exchange-traded funds in the country’s history.
Source: Bloomberg Also Read: SEC Says Crypto Mining Devices are Securities
Yet, Gensler has doubled down on his stance regarding the asset class. During the interview, when pressed about unclear regulations, Gensler insists that clarity exists. He told the program, “Not liking the rules is not the same as [denying] that there are rules.” Moreover, he notes that too many entities are profiting without the proper disclosures” and taking advantage of the public interest.
Gensler said the agency has “90 years of experience with this,” saying the agency’s stance “works pretty well.” When asked if he was lightening up to the crypto, he noted that it wouldn’t last unless there was necessary investor protection. Finally, Gensler assured that he and his predecessor classified the leading crypto as a security. #Bitcoin #bitcoin☀️ $BTC