News – Page 31

Fairshake Super PAC Receives $4.9 Million Funding from Winklevoss Twins

Fairshake, a Super PAC supporting candidates favorable to cryptocurrency and blockchain technology, has garnered $4.9 million in funding. The Winklevoss twins, known for co-founding the Gemini exchange and their significant Bitcoin investments, were early backers of Fairshake. The initial investment dates back to December 18, 2023. Chayanika has been working as a financial journalist for five years. A graduate in Political Science and Journalism, her interest lies in regulatory implications with a focus on technological evolution in the crypto realm.

Source: Chayanika Deka, 2024-02-22; https://cryptopotato.com/fairshake-super-pac-receives-4-9-million-funding-from-winklevoss-twins/

For the First Time in 2 Years, Coinbase Has Gone Profitable Again: Report

Coinbase’s quarterly report has arrived, and the exchange has cause to celebrate. According to the fiscal for Q4 FY2023, the company has $273 million in net income over the past couple of months. Total revenues added up to $953.8 million, beating analyst predictions by upwards of $100 million. A good chunk of the exchange’s rebound can be attributed to the current bullish sentiment that brought crypto prices surging back up in recent weeks. The company’s final tally for 2023 is $95 million.

Source: Cristian Lipciuc, 2024-02-18; https://cryptopotato.com/for-the-first-time-in-2-years-coinbase-has-gone-profitable-again-report/

Retail Traders Still Missing: Can They Push Bitcoin’s Price to New ATH Soon?

Retail traders are still not present in the Bitcoin market. This begs the question of whether their arrival could propel another price surge for the asset in the next few months. Data from Google Trends shows the typical behavior of retail investors, as they tend to search more for investment options that are very hot. This leads to them entering the market in question in what has been termed as FOMO (fear of missing out) The cryptocurrency market is perhaps best known for such sentiment changes as it tends to get overheated really quickly when demand from such investors skyrockets.

Source: Jordan Lyanchev, 2024-02-26; https://cryptopotato.com/retail-traders-still-missing-can-they-push-bitcoins-price-to-new-ath-soon/

Here’s How Much Crypto Scammers Drained From Victims in January Alone

Scam Sniffer reports $55 million worth of cryptocurrency was stolen in January. Scammers set up more than 11,000 phishing websites. Most of the thefts occurred on the Ethereum mainnet. These scams have impacted around 40,000 individuals, according to Scam Sniffser. The thefts occurred after a series of airdrops on the mainnet in the previous month. The scams often occur alongside aIRDrops and other project activities, say ScamSniffer.

Source: Wayne Jones, 2024-02-12; https://cryptopotato.com/heres-how-much-crypto-scammers-drained-from-victims-in-january-alone/

This NFT Platform Lost $290M in a 4-Day Exploit

PlayDapp, a South Korean game development platform, has lost over $290 million in crypto from an exploit lasting four days. The smart contract of PlayDapp’s native token, PLA, has been paused, and preparations are ongoing to conduct a snapshot for migration. An unauthorized wallet minted 200 million PLA tokens worth $36 million at the time. In response to the incident, the hacker a white hat bounty of $1 million in exchange for the funds to be returned by February 13.

Source: Mandy Williams, 2024-02-15; https://cryptopotato.com/this-nft-platform-lost-290m-in-a-4-day-exploit/

CertiK Exposes the Underbelly of Fraud Targeting its Brand

CertiK is a security firm that specializes in comprehensive security for blockchains, smart contracts, and Web3. Scammers are targeting users by fraudulently latching on the company’s brand. One prevalent scam involves phishing sites falsely claiming to have undergone CertiK audits. These fraudulent certifications are used to deceive users into investing in schemes like Wixpool, a fraudulent crypto-mining site. It actively reports such sites to hosting providers for takedown, safeguarding users from financial losses.

Source: Chayanika Deka, 2024-01-28; https://cryptopotato.com/certik-exposes-the-underbelly-of-fraud-targeting-its-brand/

Kraken Moves to Dismiss SEC’s Lawsuit

Kraken is seeking to dismiss the lawsuit filed by the US Securities and Exchange Commission (SEC) The SEC sued Kraken in November 2023, alleging that the crypto exchange co-mingled customer funds and listed assets deemed as securities on its platform. Kraken argued that the SEC’s complaint did not touch on fraud or supposed supposed breaches of the law. The firm criticized the SEC for its “regulation-by-enforcement approach” during congressional testimony in May 2023.

Source: Anthonia Isichei, 2024-02-24; https://cryptopotato.com/kraken-moves-to-dismiss-secs-lawsuit/

Change of Heart: South Korea to Discuss Spot Bitcoin ETFs With US SEC (Report)

The Financial Supervisory Service (FSS) of South Korea intends to meet with the United States Securities and Exchange Commission (SEC) to discuss the crypto industry and spot Bitcoin ETFs. FSS chief Lee Bok-hyun is expected to visit the U.S. later this year. He announced the visit on Monday while revealing his business plans for 2024. The FSS director said he and Gensler would discuss Korea discount measures like spot BitcoinETFs and corporate value-up programs.

Source: Mandy Williams, 2024-02-06; https://cryptopotato.com/change-of-heart-south-korea-to-discuss-spot-bitcoin-etfs-with-us-sec-report/

EU Action Needed to Save Hungary’s Freedom of the Press, HRW Says

Hungary’s freedom of the press has been under direct fire since Prime Minister Viktor Orban came into power in 2010. Attacks by Orban’s administration against independent media have prevented the public from accessing pertinent information, Human Rights Watch said. The organization has called on EU lawmakers to take action against the Hungarian government’s efforts to stamp out independent media. The Fidesz-KDNP party “has used its power to deliberately dismantle media freedom and pluralism through control over the media regulatory body,” HRW said.

Source: Written by Henry Pope, 2024-02-16; https://www.occrp.org/en/daily//en/daily/18475-eu-action-needed-to-save-hungary-s-freedom-of-the-press-hrw-says

Solana (SOL) Price Skyrockets 22% Weekly, Achieving a Massive Milestone

SOL token surpasses Binance’s BNB token to claim the position of the fourth-largest cryptocurrency by total capitalization. SOL witnessed a remarkable price surge of 22% within 7 hours, reaching $116. Solana TVL reached $1.92B on Wednesday, over 500% in appreciation since Oct. 2023. This development comes despite the network experiencing an outage on Feb. 6, which was attributed to a bug that caused transactions to enter an infinite loop.

Source: Jose Oramas, 2024-02-15; https://cryptopotato.com/solana-sol-price-skyrockets-22-weekly-achieving-a-massive-milestone/

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