Author: Crypto News

Last updated: May 12, 2024 04:00 EDT | 2 min read A victim who fell prey to a sophisticated ‘address poisoning’ attack has successfully recovered almost all of the stolen funds, amounting to a staggering $71 million. The incident involved the victim mistakenly sending wrapped Bitcoin tokens (WBTC) to an attacker who cleverly mimicked their wallet address.However, thanks to the efforts of blockchain cybersecurity firm Match Systems and the exchange Cryptex, the victim’s losses have been largely mitigated.What is Address Poisoning?Address poisoning, also known as dusting attacks, occurs when an attacker inundates the wallet of a high net worth individual with…

Insanity Bets ($IBET) has gone viral with its $1M presale jackpot.$IBET presale participants will vie for the $1M Insanity Jackpot. And a single lucky investor will ultimately claim the entire $1M prize. One of the biggest crypto giveaways to date, the $1M Insanity Jackpot has become an instant sensation.Does it Make Sense to Join a Presale Just for a $1M jackpot Ticket?It makes absolute sense to join the $IBET presale just for the jackpot ticket. The presale is budget-friendly, opening up the giveaway to investors of all sizes.But even without the jackpot, the presale is one to not miss out…

Last updated: May 11, 2024 13:21 EDT | 3 min read Solana (SOL/USD) is trading at $145.88, experiencing a minor decline of 1.50% in the last 24 hours. Amidst this fluctuation, CEO Anatoly Yakovenko shared a bullish outlook for Solana‘s role in the Web3 space at the Solana Crossroads 2024 conference.With the upcoming release of Firedancer, Solana’s new client, the network aims to enhance its transaction capabilities and efficiency significantly. This advancement could potentially elevate Solana’s market position, influencing the Solana price prediction as it prepares to lead in the Web3 era.Solana’s Future After Firedancer: Anatoly Yakovenko Reveals Vision at…

Last updated: May 11, 2024 12:00 EDT | 2 min read Erik Voorhees, the founder of popular cryptocurrency exchange ShapeShift, has unveiled his latest venture called “Venice AI.”The new platform introduces a privacy-focused generative AI chatbot, addressing the growing concerns surrounding privacy in both the cryptocurrency and artificial intelligence (AI) industries.In the announcement, Voorhees expressed his worries about the direction of AI, stating that he observed a trend where large tech companies, closely aligned with governments, are gaining control over AI technologies.He said that this could lead to a dystopian future and advocates for open-source decentralization as a countermeasure.Voorhees aims…

Last updated: May 11, 2024 11:32 EDT | 2 min read Bitcoin Price PredictionBitcoin (BTC/USD) recently crossed the $60,000 threshold, only to face new challenges from Federal Reserve sentiment. The cryptocurrency, currently trading around $60,800, experienced a modest drop of about 1.50% over the last day, keeping the bitcoin price prediction bearish.This market movement aligns closely with remarks from Federal Reserve Governor Michelle Bowman, as reported by financial journalist Walter Bloomberg, indicating that rate cuts are not seen as necessary this year. FED’S BOWMAN: DOESN’T SEE RATE CUTS AS WARRANTED THIS YEAR — *Walter Bloomberg (@DeItaone) May 10, 2024These comments…

Last updated: May 11, 2024 05:11 EDT | 2 min read Ethereum restaking protocol EigenLayer has initiated its token-claim process, commonly referred to as an “airdrop,” for Season 1, Phase 1 rewards.According to a recent blog post by the protocol’s development team, users who are eligible for the new EIGEN token can now acquire it through the claims process after a few weeks of anticipation.However, it’s important to note that EIGEN tokens are currently nontransferable, meaning users cannot sell or trade them.EIGEN Token to Become Transferable in FutureThe blog post further mentioned that the EIGEN token will become transferable once…

Last updated: May 10, 2024 17:19 EDT | 1 min read Wells Fargo, the third largest bank in the United States, has invested in one of the country’s new Bitcoin ETF products.According to a 13F-HR form submitted on Friday, the bank held exposure worth $143 million across three different Bitcoin investment products as of March 31.Wells Fargo Buys BitcoinThe vast majority of those funds were held with the Grayscale Bitcoin Trust (GBTC) – a Bitcoin spot ETF whose shares are designed to track Bitcoin’s spot price during traditional stock market hours. The fund directly backs its shares with a fixed…

Last updated: May 10, 2024 17:01 EDT | 6 min read Bitcoin (BTC) is rapidly evolving. While the Bitcoin network has primarily been used for payment transactions, current activity appears to be resembling that of Ethereum during the height of decentralized application (Dapp) projects. The introduction of Bitcoin Runes and BRC-20 tokens  – which emerged during the time of the fourth Bitcoin halving event – has likely sparked the evolution of Bitcoin-native decentralized finance (DeFi).The Emergence of Bitcoin DeFi Rena Shah, VP of Products at Trust Machines – a team focused on growing the Bitcoin economy – told Cryptonews that two years…

Last updated: May 10, 2024 16:48 EDT | 3 min read Bitcoin Price PredictionToday, Bitcoin is trading at $60,620, marking a 4% decrease over the last 24 hours. The cryptocurrency’s recent uplift is attributed to dovish economic data from the U.S., hinting at possible Federal Reserve rate cuts.This anticipation has weakened the dollar and, in turn, boosted Bitcoin’s value. Additionally, significant inflows of $11.54 million into Bitcoin ETFs, like Grayscale and Bitwise, along with Trump’s positive remarks on cryptocurrencies, have further fueled the upward movement.Rising US Jobless Claims Boost Crypto Market Amid Rate Cut HopesThe latest US employment data reveals…

Last updated: May 10, 2024 16:03 EDT | 2 min read The International Monetary Fund (IMF) recommended on May 10 that Nigeria regulate crypto trading platforms amid the African nation’s detainment of two Binance executives, according to a United Nations Thursday staff report.Nigeria Should Regulate Crypto Trading Platforms, IMF Report Says“Staff recommends that global crypto trading platforms be registered or licensed in Nigeria and subject to the same regulatory requirements applicable to financial intermediaries following the principle of same activity, same risk, and same regulation,” the report read.Nigeria has been in a financial crisis in recent months, with its once-dominant…