DMM Bitcoin, a subsidiary of DMM Group, has reported a significant security breach resulting in the theft of 4,502.9 bitcoin (BTC), valued at approximately $303 million. The Japanese cryptocurrency exchange detected the unauthorized transfer of funds from its wallet at 1:26 p.m. on Friday, May 31, 2024. In response, DMM Bitcoin has assured its customers…
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On May 26, the trader known as GCR was allegedly hacked, possibly by the team behind the Solana-based meme coin CAT, as suggested by onchain sleuth Zachxbt. Prior to the hack, an address linked to CAT’s team used funds from a manipulated token launch to open long positions in ORDI and ETHFI, accumulating over $30,000…
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Crypto asset trading firm QCP Capital has forecasted a potential 60% increase in the price of ether, projecting it could surge to around $6,000 if the U.S. approves spot ethereum exchange-traded funds (ETFs). The prediction coincides with a significant increase in market volatility and intense anticipation leading up to the ETF approval deadline. Notably, major…
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Goldman Sachs analyst Scott Feiler warns of a bleak outlook for consumers as stagflation looms, with a bearish stance on consumer cyclicals and defensive stocks. Amidst the administration’s troubled Bidenomics, heavily indebted consumers face mounting pressures as pandemic savings dry up and economic growth falters. “Our desk is getting bearish on consumer and our soft…
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Ripple’s CEO, Brad Garlinghouse, has voiced concerns that the U.S. government’s scrutiny of Tether, the foremost issuer of stablecoins by market cap, could notably affect the cryptocurrency environment. His comments come amid apprehensions about Tether’s alleged utilization by terrorist networks and nations under sanctions, such as Russia, aiming to circumvent U.S. economic sanctions. “The U.S.…
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In his speech on the release of the Financial Stability Report, Tiff Macklem, Governor of the Bank of Canada, sought to emphasize the purported strength of Canada’s financial system while cautioning against ongoing risks that could precipitate a “sharp correction” in markets, potentially leading to widespread financial strain. “Some indicators of financial stress have risen,”…
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The decentralized lending protocol built on the Solana blockchain, Marginfi, announced the upcoming launch of YBX, which is expected to be the first notable decentralized stablecoin on Solana, aiming to provide an alternative to the network’s heavy reliance on Circle’s centralized stablecoin usd coin (USDC). The stablecoin, backed by SOL-based liquid staking derivatives (LSDs), is…
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The Justice Department has designated Forensic Risk Alliance (FRA) as the external monitor for Binance Holdings Ltd. This decision comes in the wake of Binance’s acknowledgment of breaching U.S. anti-money laundering regulations and sanctions. Bloomberg’s Ava Benny-Morison and Chris Strohm were the first to report this development. Known for its expertise in fraud investigations and…
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The investment management firm Vaneck has expanded into the meme coin sector with the launch of its new Marketvector meme coin index, “MEMECOIN.” This index, available through Marketvector Indexes—a company focused on digital assets and various other sectors—monitors the performance of the leading six meme coins. MEMECOIN primarily operates as a modified market cap-weighted index,…
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