News – Page 29

Bitcoin Slumps to 10-Day Lows, DOGE and SHIB Among the Double-Digit Losers (Weekend Watch)

Bitcoin has dropped hard to a ten-day low of under $65,000. The alternative coins are also well in the red, and the total crypto market cap has lost over $100 billion daily. Monday began on a high note as BTC soared from $67,000 after retracing on Sunday evening to over $70,000 to register a new all-time high. The asset kept climbing in the following days and peaked at $73,800, which is the current ATH as of now.

Source: Jordan Lyanchev, 2024-03-18; https://cryptopotato.com/bitcoin-slumps-to-10-day-lows-doge-and-shib-among-the-double-digit-losers-weekend-watch/

Andreessen Horowitz Invests $100 Million In ETH Restaking Platform EigenLayer

Andreessen Horowitz (a16z) has invested $100 million in the Ethereum-based EigenLayer. The next largest investment in the platform was a $50 million raise in March during a funding round led by Blockchain Capital. A16z was the sole backer of the funding round, which marks the largest investment ever received in Eigen layer by a wide margin. The investment suggests that VC funding in crypto may be on course for a revival.. Eigenlayer is a decentralized Ethereum “

Source: Andrew Throuvalas, 2024-02-23; https://cryptopotato.com/andreessen-horowitz-invests-100-million-in-eth-restaking-platform-eigenlayer/

These 2 Scenarios Will See BTC Head to $150K In the Next 6 Months (Analysis)

An analyst has found two on-chain paths that would lead the digital asset to $150,000 within the next six months. Onchain Edge discovered that unrealized profits and losses are currently close to the 0.54 level, the same area that marked BTC’s price top in 2019. The Puell Multiple, a BTC valuation tool that examines Bitcoin miner profitability, has reached the 1.83 level. The metric provides data that can be used to detect when the market is in a buy or sell season.

Source: Mandy Williams, 2024-02-17; https://cryptopotato.com/these-2-scenarios-will-see-btc-head-to-150k-in-the-next-6-months-analysis/

WOOFi Reports $8.75 Million Loss, Offers 10% Bounty for Return

WOOFi, a decentralized finance platform, experienced an exploit on March 5th that targeted its swap feature on the Arbitrum network. The event resulted in a loss of approximately $8.75 million in crypto assets. The platform said it has initiated efforts to recover these funds and has offered a 10% whitehat bounty to the exploiter. Additionally, a bounty has been placed on Arkham Intelligence for anyone providing additional information about the attack. The attack involved a series of flash loans leveraging low liquidity to manipulate the price of WOO. The exploiter repeated this attack three times.

Source: Chayanika Deka, 2024-03-07; https://cryptopotato.com/woofi-reports-8-75-million-loss-offers-10-bounty-for-return/

Gone in 60 Seconds: Spanish Police Arrest 7 Tied to Car Theft Ring

Police allege that the seven individuals are part of a larger Bulgarian crime network. They would steal high-value cars in less than a minute, falsify their VIN numbers, and then sell them on the international black market. Spanish authorities discovered that the group was using Madrid and Catalonia as venues to sell vehicles in the 350,000 euro (US$376,000) range. The thieves used sophisticated tools that allowed them to make off with practically any car in under 60 seconds. Once in the clear of any possible pursuit, the cars were given new vehicle identification numbers and chassis numbers.

Source: Written by Henry Pope, 2024-02-07; https://www.occrp.org/en/daily//en/daily/18445-gone-in-60-seconds-spanish-police-arrest-7-tied-to-car-theft-ring

Bitcoiner Nayib Bukele Re-Elected as El Salvador’s President

El Salvador’s incumbent President Nayib Bukele marked a landslide victory, indicating that he could be re-elected for a second term. In an X post, B Dukele declared himself the winner of the Presidential election, which was held on Feb. 4, 2024. According to the post, his political party, Nuevas Ideas (New Ideas), won with over 85% of the votes “and a minimum of 58 of 60 deputies in the Assembly” Subsequent reports reaffirmed his announcement, with small deviations of the percentages.

Source: Anthonia Isichei, 2024-02-06; https://cryptopotato.com/bitcoiner-nayib-bukele-re-elected-as-el-salvadors-president/

Friend.tech Investors Grant Users Full Token Control Amid Resurgence Efforts

Friend.tech investors waive rights to sell tokens to users, granting them full control over the funds. The decentralized social media protocol garnered significant attention last year but has recently experienced a decline. Users have been speculating about a potential comeback, fueled by anticipation of an upcoming airdrop amidst criticism and declining trading activity. The statement indicated that the FT bunnies, a reference to the platform’s tokens, are gearing up for this mission in the coming spring. The announcement has been received with a lot of positivity from the community, with some saying that it’s now the project’s “redemption arc”

Source: Wayne Jones, 2024-03-05; https://cryptopotato.com/friend-tech-investors-grant-users-full-token-control-amid-resurgence-efforts/

7th Suspect Charged in Papua New Guinea-Australia Methamphetamine Case

Authorities intercepted a flight loaded with five bags of methamphetamine in rural Queensland. The flight was traveling from the Bulolo district of Papua New Guinea and was bound for New South Wales, Australia. The woman allegedly facilitated the importation of this drug, the storage of the methamphetamine prior to importation, the purchase of bags for transportation, the payment for fuel and the airstrip used for the black flight. Through a search warrant at the woman’s property in Brisbane, Queensland’s capital city, authorities determ.

Source: Written by Lieth Carrillo, 2024-01-20; https://www.occrp.org/en/daily//en/daily/18386-7th-suspect-charged-in-papua-new-guinea-australia-methamphetamine-case

Vitalik Buterin Advocates for Advanced L1 Features

Vitalik Buterin, the co-founder of Ethereum, recently expressed skepticism regarding the prevailing notion of prioritizing simplicity in Layer 1 (L1) blockchains over Layer 2 (L2) solutions. He highlighted the dilemma of choosing between the risks associated with bugs in L1 and L2. Proposing an alternative method, he suggested that it might be worth adding some pretty sophisticated L1 features to reduce the code burden of L2s and allow them to be reasonably simple.

Source: Wayne Jones, 2024-02-23; https://cryptopotato.com/vitalik-buterin-advocates-for-advanced-l1-features/

US: Mastermind of Bitcoin Fog Money Laundering Conspiracy Convicted

Russian-Swedish national Roman Sterlingov, 35, operated Bitcoin Fog from 2011 through 2021. During that time, the mixer became the go-to darknet hub for cybercriminals seeking to launder their ill-gotten gains. Sterlingov’s program anonymized the identities of buyers and sellers who ran their cryptocurrency through it. This gave them peace of mind that they could obfuscate how their illicit funds were obtained and then convert them into cash without fear of authorities freezing their accounts.

Source: Written by Henry Pope, 2024-03-15; https://www.occrp.org/en/daily//en/daily/18567-us-mastermind-of-bitcoin-fog-money-laundering-conspiracy-convicted

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