Author: Coin Telegraph
Solana (SOL) has dropped by 7.50% in the last 24 hours to reach around $142 on March 7, mirroring losses across the cryptocurrency market.SOL/USD four-hour price chart. Source: TradingViewTop reasons driving the SOL prices lower today include:Digital Asset Stockpile fails to impress SOL bullsSolana’s price tumbled today as crypto markets reacted to President Donald Trump’s executive order establishing a US strategic Bitcoin reserve and digital asset stockpile.What to know: Investors had expected the US government would actively purchase Bitcoin and other cryptocurrencies, but the order specified no new acquisitions beyond assets already forfeited.Trump fulfilled his campaign promise to establish a…
Bitcoin is not a company, nor is it a brand. It has no official spokesperson. Satoshi Nakamoto, the pseudonymous creator, remains an enigma, and while prominent figures like Michael Saylor and Jack Dorsey champion the cause, Bitcoin is, at its core, a decentralized movement. But more well-known faces backing Bitcoin may help bring it into mainstream view.That’s exactly what comedian and actor TJ Miller hopes to do. Known for his roles in Silicon Valley and Deadpool, Miller has emerged as an outspoken advocate for Bitcoin. In the latest episode of Decentralize with Cointelegraph, he sits down with Gareth Jenkinson to share…
US Treasury Secretary Scott Bessent recently called for bringing Bitcoin (BTC) onshore and said he would discuss the next steps for possibly acquiring more BTC at the White House Crypto Summit on March 7.Bessent appeared in a CNBC interview and criticized the US government’s previous sales of Bitcoin. The treasury secretary told the interviewer:“I’m a big proponent of the US taking the worldwide lead in crypto. I think we have to bring it onshore and use our best practices and regulations. I think that the Bitcoin Reserve — before you can accumulate it — you have to stop selling it.”The…
Bitcoin analysts are signaling limited upside potential for the cryptocurrency following disappointment over US President Donald Trump’s Strategic Bitcoin Reserve plan, which did not involve direct government purchases of Bitcoin, contrary to some expectations.Trump’s executive order, signed on March 7, outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases rather than actively acquiring Bitcoin (BTC) through market purchases, Cointelegraph reported.Bitcoin plunged over 6% after the announcement, falling from $90,400 to $84,979, Cointelegraph Markets Pro data shows.BTC/USD, 24-hour chart. Source: CointelegraphBitcoin’s price action may lack any significant upside due to this initial investor disappointment, according…
Decentralized exchange aggregator 1inch lost $5 million in cryptocurrency when a hacker exploited a smart contract vulnerability, the platform confirmed.On March 5, 1inch identified a vulnerability affecting resolvers — entities that fill orders — using the outdated Fusion v1 implementation, which was made public a day later.Source: 1inch NetworkTracing the $5 million 1inch hackOn March 7, blockchain security firm SlowMist found through an onchain investigation that the 1inch hacker made away with 2.4 million USDC (USDC) and 1276 Wrapped Ether (WETH) tokens.Source: SlowMistAccording to 1inch, the hack stole funds only from resolvers using Fusion v1 in their own contracts, and…
Update, March 8, 10:30 am UTC: This article has been updated to include new information confirming that the 1inch hacker returned most of the stolen funds after negotiations.Decentralized exchange aggregator 1inch successfully recovered most of the $5 million stolen in a recent exploit after negotiating a bug bounty agreement with the attacker, the platform confirmed.On March 5, 1inch identified a vulnerability affecting resolvers — independent entities that fill orders — using the outdated Fusion v1 implementation, which was made public a day later.Source: 1inch NetworkTracing the $5 million 1inch hackOn March 7, blockchain security firm SlowMist found through an onchain…
President Donald Trump’s cryptocurrency project has generated at least $350 million in revenue from the launch of the Official Trump (TRUMP) memecoin, according to a new analysis by the Financial Times.Entities involved in operating the TRUMP memecoin have earned at least $314 million from token sales and $36 million from fees on the Solana blockchain, the FT reported on March 7.While Trump’s personal profits remain unclear, the memecoin’s official website, Gettrumpmemes.com, states that The Trump Organization-affiliated CIC Digital and Delaware-based Fight Fight Fight collectively own 80% of the tokens.FT’s methodology for calculating TRUMP earnings. Source: FTThe Financial Times calculated earnings…
President Donald Trump’s executive order establishing a US Strategic Bitcoin Reserve and a National Digital Asset Stockpile is expected to be a catalyst for wider Bitcoin adoption, according to investment analysts and crypto industry leaders.On March 6, Trump acknowledged the need to “harness” the power of digital assets while signing the executive order for crypto assets, which states:“Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic Bitcoin reserve.”Ryan Rasmussen, the head of research at Bitwise, anticipates a cascading effect where other countries and private investors will…
As the United States moves forward with its Strategic Bitcoin Reserve, speculation is growing over whether China will respond with its own national crypto strategy.On March 7, US President Donald Trump signed an executive order establishing a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.” The reserves will initially be funded using Bitcoin (BTC) and other digital assets seized in government criminal cases.With the US shifting its stance on BTC, China may make moves to avoid falling behind. On March 3, Bitcoin advocate David Bailey, one of the Bitcoin supporters credited for “orange-pilling” Trump, said that China may be working…
President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.Trump’s executive order outlined a plan to initially use cryptocurrency forfeited in government criminal cases, Cointelegraph reported on March 7.As one of the crypto industry’s most widely-anticipated moves, the Strategic Bitcoin (BTC) Reserve marks the first “real step” for Bitcoin’s integration into the global financial system, according to Joe Burnett, head of market research at Unchained.Source: Margo Martin“The Bitcoin integration era has begun,” Brunett told Cointelegraph, adding:“Now, with the establishment of…