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Massive X Cyberattack: Here’s Who’s Responsible
A significant disruption occurred on the social media platform X on Monday, impacting users globally. The outage led to widespread connectivity issues, with users reporting numerous error messages. During its peak, Downdetector noted over 40,000 complaints about the service’s instability, which lingered for several hours before resolution occurred. The hacker group Dark Storm, which is…
Continue ReadingSenator Lummis’ new BITCOIN Act allows US reserve to exceed 1M Bitcoin
U.S. Senator Cynthia Lummis has reintroduced the BITCOIN Act, a significant legislative move aimed at establishing a strategic reserve for Bitcoin within the U.S. government. This proposal, which seeks to enable the government to acquire and manage over 1 million Bitcoin, was first introduced back in July and has gathered renewed momentum following its latest…
Continue ReadingIs Bitcoin’s Recovery Near? On-Chain Signals You Need to See
Bitcoin’s (BTC) recent volatility has left many in the cryptocurrency space anxious, pondering whether the downturn will deepen or if a recovery is on the horizon. Insights from market analytics firm Santiment suggest that current on-chain metrics could provide valuable guidance regarding Bitcoin’s short-term trajectory. ### “The Sky is Not Falling in Crypto” Since reaching…
Continue ReadingU.S. House Votes to Overturn IRS DeFi Broker Rule
In a significant move, the U.S. House of Representatives has voted overwhelmingly to overturn an IRS rule that classified crypto entities as brokers. This rule mandated that these entities collect specific taxpayer and transaction information, which included requirements for decentralized finance (DeFi) platforms. The resolution was passed with a bipartisan vote of 292 to 132,…
Continue ReadingBitwise launches Bitcoin corporate treasury ETF
Bitwise recently announced the launch of the Bitwise Bitcoin Standard Corporations ETF (OWNB), which is designed to provide investors exposure to publicly traded companies that hold significant Bitcoin assets. The ETF, introduced on March 11, aims to track the Bitwise Bitcoin Standard Corporations Index—an equity index comprised of companies that possess a minimum of 1,000…
Continue ReadingBitcoin Miners are Selling: Here’s What You Need to Know
Broader economic concerns, including recession fears and stubborn inflation, have rattled the crypto market, leading to a sharp downturn. Bitcoin has struggled under these conditions, which, in turn, has forced miners to sell more BTC to sustain operations. As a result, increased selling pressure from miners has compounded market instability. Miners Offload BTC to Cover…
Continue ReadingEl Salvador’s Top Crypto Regulator
Paraguay is on the brink of significant developments in the cryptocurrency sector, as regulatory frameworks are poised for implementation. This sentiment was echoed by Juan Carlos Reyes, the president of the Comisión Nacional de Activos Digitales (CNAD) of El Salvador, who indicated that Paraguay has made considerable progress in laying the groundwork for effective supervision…
Continue Reading4 signs that $76.7K Bitcoin is probably the ultimate low
Bitcoin (BTC) recently hit a four-month low at $76,700 on March 11, coinciding with a substantial 6% decline in the S&P 500 index. This stock market correction has pushed the index to its lowest point in six months, as market participants react to heightened probabilities of a global economic slowdown. Interestingly, despite Bitcoin’s sharp 30%…
Continue ReadingHere’s Why the Cardano (ADA) Price Could Spike This Week
Speculation surrounding the potential listing of Cardano’s native cryptocurrency, ADA, by the US-based exchange Gemini is gaining momentum. Co-founder Tyler Winklevoss recently hinted that an announcement could be imminent, which, if confirmed, has the potential to invigorate liquidity and generate upward price momentum for the digital asset. As ADA reached its peak price of over…
Continue ReadingCrypto VC Dragonfly Weighs Cost of Geoblocked Airdops to U.S. Token Holders
Draconian regulatory measures in the cryptocurrency space have significantly impacted U.S. citizens’ ability to capitalize on airdrops, which are promotional initiatives designed to reward community members by distributing free tokens. A recent analysis by the venture capital firm Dragonfly has revealed that these regulations have cost Americans approximately $2.6 billion in potential revenue, with the…
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