Cryptocurrency

Cryptocurrency Hackers Steal Over $1.2 Billion in 2024

Thursday. August 29 at 5:30 PM

1 min. read

Cryptocurrency hackers have stolen more than $1.2 billion, with recent hacks in August raising concerns about crypto adoption. In 2024, $1.21 billion in digital assets were lost to hacks and rug pulls across 154 exploits, a 15.5% increase from 2023. Mitchell Amador, CEO of Immunefi, warned that hackers may surpass 2023's theft. Despite exceeding last year's activity, there has been a decrease in monthly hacks. August saw $15 million stolen, significantly less than July's $274 million. DeFi accounted for all August exploits, while CeFi remains a major security risk. Immunefi, a cybersecurity platform, protects over $190 billion in user funds. Major hacks in August included the Ronin Network and Nexera exploits, both stemming from code vulnerabilities during upgrades. CeFi incidents, though fewer, can result in massive losses. Overall, the crypto industry faces ongoing security challenges.

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The Constitutional Solution to U.S. Debt Crisis

Monday. January 20 at 7:00 AM

The U.S. faces a looming debt crisis, with potential solutions rooted in constitutional principles. The debt limit, which was suspended until 2025, poses a challenge for the government to meet its financial obligations. The 14th Amendment's Public Debt Clause mandates honoring the national debt, preventing a partisan default. Billionaire Elon Musk and former President Trump advocate for Bitcoin as a solution to the escalating debt issue. Trump proposed establishing a U.S. Bitcoin Reserve to address the $36 trillion national debt. Sen. Cynthia Lummis introduced the BITCOIN Act to purchase bitcoins to reduce the debt. The U.S. could potentially cover its debt by investing in Bitcoin, securing its position as a global superpower. However, caution is advised in cryptocurrency investments, as they carry high risks. The evolving landscape of crypto and government involvement underscores the need for careful consideration and due diligence in financial decisions.

Cryptocurrency

Crypto Market Liquidations Exceed $1 Billion as Bitcoin Dips Below $100K

Monday. January 20 at 5:00 AM

Over the past 24 hours, crypto market liquidations have surpassed $1 billion as Bitcoin briefly dropped below $100,000 after nearing its all-time high. CoinGlass data reveals that $1.18 billion has been liquidated from approximately 406,000 traders, split between about $921 million in long liquidations and $260 million in short liquidations. Notably, Ether led the market with over $207.5 million in long liquidations, followed closely by Bitcoin with over $202 million. Bitcoin experienced a more than 6% decline from $106,300 to around $99,700 on Jan. 19, echoing a previous market downturn on Jan. 7. Altcoins like ETH, XRP, DOGE, ADA, AVAX, SUI, and XLM also saw significant declines. Additionally, Donald Trump's memecoin plummeted by 40% after reaching a $70 billion valuation, following the launch of Melania Trump's token. For more insights on BTC's price target and NFT trends, subscribe to the Markets Outlook newsletter.

Cryptocurrency

Ethereum Price Analysis: Potential Decline Below $3000

Sunday. January 19 at 11:00 PM

Ethereum, a leading altcoin, has experienced a 2% price drop in the last 24 hours, contrary to the market trend. This decline is attributed to a decrease in demand for the coin, raising concerns of a possible drop below $3000. Analysis of Ethereum's momentum indicators on the ETH/USD one-day chart indicates a decrease in demand. The Relative Strength Index (RSI) is currently below the neutral line at 42.61, signaling weakening momentum. Additionally, the Chaikin Money Flow (CMF) is on the verge of dropping below zero, confirming the diminishing demand. With the current price at $3,175 and facing resistance at $3,249, Ethereum may see a further decline to $2,811 if buying pressure continues to weaken. However, improved market sentiment could push the price above $3,249. This analysis serves as informational content and not financial advice, urging readers to conduct their own research and seek professional guidance before making investment decisions.

Cryptocurrency

The Future of Crypto Policies Under President Trump's Administration

Sunday. January 19 at 10:00 PM

US President-elect Trump is set to take office on Jan. 20, sparking anticipation among crypto industry leaders for favorable pro-crypto policies. However, the longevity of these policies beyond his term hinges on the political landscape in Washington, DC. Adam O’Brien, CEO of Bitcoin Well, believes that Trump's pro-crypto stance could endure if Vice President JD Vance succeeds him in 2029. Conversely, a Democratic takeover of Congress and the presidency could jeopardize these policies, especially those established through executive orders. With Republicans holding a slim majority in the House of Representatives, the upcoming 2026 midterm elections could potentially shift the balance of power. Despite calls for bipartisan cooperation on crypto regulations, the future of crypto policies remains uncertain under the Trump administration. Industry experts suggest that political representatives are increasingly inclined to support the crypto sector following the 2024 elections, driven by industry advocacy efforts.

Cryptocurrency