Crypto Push

2023-11-24 17:00:32 KyberSwap DEX shaken by alleged $47 mln exploit

Users urged to withdraw funds after security incident
KyberSwap swiftly acknowledged the security incident through a post on X, urging all users to promptly withdraw their funds.

Dear Kyberswap Developers, Employees, DAO members, and LPs, Negotiations will start in a few hours when I am fully rested. Thank you.

Upon scrutinizing the situation, 0xngmi, a pseudonymous employee at crypto data site DefiLlama, clarified that it wasn’t an approval issue with Kyber aggregator. Instead, the hacker seemed to be systematically draining the Kyber liquidity provider pools.

The repercussions of this exploit were immediate, with the price of Kyber Network Crystal (KNC) experiencing a sharp decline. It was trading at $0.731 at press time, according to TradingView. Open / Comment

2023-11-21 17:00:35 Bittrex Global to wind down operations after the collapse of its US arm

It is with great regret that we inform you that Bittrex Global has decided to wind down its operations.

SEC isn’t slowing down
Bittrex is among the increasingly long list of virtual asset platforms hit by regulatory action in the U.S. this year. The latest exchange to suffer the SEC’s salvo is Kraken.

The judge ruled that the sale of XRP tokens on crypto exchanges and through programmatic sales did not constitute a sale of securities. But the institutional sale of XRP tokens indeed violated federal securities laws. Open / Comment

2023-11-18 18:00:33 Blackrock’s spot Ethereum ETF application goes to the SEC

Blackrock’s big Ethereum plan
Interestingly, the predicted development has not had a major impact on the price of Ethereum. According to CMC, at press time, ETH was trading at $2069.45 with a market cap of over $248 billion. The past hour chart showed gains by just over 1 percent, while the 7-day chart registered a massive uptrend of over 8 percent.

Blackrock’s influence on the crypto market
Notably, Blackrock has been credited for reviving the interest in the spot ETF market. This year, the investment management giant was the first to file for a spot Bitcoin ETF. The move was quickly replicated with several other notable contenders in the ETF market. Open / Comment

2023-11-15 18:00:00 Cardano – Kraken to pair up? Here’s what’s going on

Like Base, Like Kraken
As of last week, Kraken had not yet decided on the blockchain firm it intends to collaborate with on the project. However, it had options including Polygon [MATIC], Matter Labs, and the Nil Foundation. So, it remains uncertain its Cardano will make the cut.

Cardano’s odds are bleak and bright
Although the TVL’s increasing momentum had flatlined, the quick rise implied that many market players trusted the chain enough to deposit liquidity into it. Now, here’s where it gets interesting for Cardano as regards its chances of clicking the project. That is, if Kraken decides to consider it. Open / Comment

2023-11-13 18:00:18 Don’t miss $QDO listing on MEXC: AI quality management for the real world
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Official chat: https://t.me/qoodo_IO Open / Comment

2023-11-12 17:00:30 Will Lido’s AUM grow past the $1 billion mark?

High hopes
According to Token Terminal’s data, Lido’s AUM could exceed $10 billion in the coming market cycle. Lido’s AUM (assets under management) exceeding $10 billion signaled significant growth for the platform. It meant that more people were entrusting their assets to Lido.

Lido is working on something new called the Community Staking Module (CSM). This is an extra feature to make more people interested in Lido. It fits with what the DAO (that’s like the management team) wants to do and uses a special high-tech design. Open / Comment

2023-11-09 16:00:24 Evmos moves away from Cosmos: Gauging ATOM’s reaction

How this development impacts Cosmos
As part of this transition, fees generated from the discontinued Cosmos transactions will be permanently removed (burned). Users who exclusively use Cosmos wallets will have to switch to EVM-compatible clients.

How ATOM reacted
AMBCrypto’s analysis of ATOM’s daily timeframe chart showed that the token remained unaffected by Evmos’ developments. At the time of this report, it was trading at around $8, showing a gain of over 2% in value. Open / Comment

2023-11-06 19:01:48 5 reasons to have $CAGA Crypto on your radar
It could be the next big thing in LSDfi (Liquid Staking DeFI)
$CAGA token is about to launch
You’ll get a % of the protocol profits if you stake $CAGA
$CAGA stakers will decide on the next product
The team already has 2 new products on the ready

CAGA Crypto is the first community-driven project in LSDfi with a fair voting mechanism.

Join the official chat now: https://t.me/cagacryptogroup Open / Comment

2023-11-06 18:00:06 Bitcoin, Ethereum ETFs in Hong Kong? It may be a reality soon

The ETF craze rises
Recently, Hong Kong has been pondering the allowance of ETFs that directly invest in crypto. Officials will aim to establish an Asia-Pacific digital asset hub and address the fallout of the JPEX scandal.

Potential impacts
Several players worldwide are competing to establish digital asset hubs. The potential approval of crypto ETFs in Hong Kong can boost sentiment in the crypto sector.

State of the blue chips
The growing interest in ETFs can aid blue chip coins such as Bitcoin [BTC] and Ethereum [ETH] the most. The first round of hype around Bitcoin ETFs aided the coin to push past the $34,000 level. At press time, BTC was trading at $34,904.52, having declined by 0.55%. Open / Comment

2023-11-03 16:00:10 US DoJ seizes $54M in crypto from drug dealers, more here

Our forfeiture action of $54 million should serve as a lesson to those who mistakenly believe we can’t trace their illicit behavior or their ill-gotten proceeds.

Crypto usage in illicit drug trafficking
Blockchain analytics firm TRM Labs published a report in June 2023, detailing crypto usage among illicit actors including drug traffickers.

So, what does the US government do with seized crypto?
It is commonly understood that the U.S. Marshals Service auctions seized crypto assets for fiat currency. The funds are typically transferred to victims or forfeited to government treasuries. So far, the US government has sold Bitcoin worth $366 million. Open / Comment