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Happy Monday Folks! Over the weekend, the Curve Finance hack was still being covered the most as well as how many folks are still HODLing Bitcoin. Today, the most covered news is the $1.85M bounty for the identity of the Curve Finance exploiter and the $1M bet by Adam Back that Bitcoin might reach $100K before the halving; 31 Mar 2024. The price of Bitcoin is currently trading at $29,033.69 and continues to remain above the 200 Weekly Moving Average; we didn't get the breakout I thought would happen last week. Let's dive into the news...
Humanitarian aid and community services charity, Red Cross Singapore, included cryptocurrency as a newly-accepted form of donation.
BTC price meets CPI as volatility 'collapses' — 5 things to know in Bitcoin this week (Cointelegraph):
- Bitcoin price predictions trend lower after silent weekly close
- Querying the return of BTC volatility
- "Reaccumulation" becomes Bitcoin buzzword
- Fundamentals show signs of recovery
- CPI looms ahead of September Fed rate move
Bitcoin price is struggling to climb above $29,500 and fell below $28,700 after the Aug. 7 Wall Street open as “endless spot selling” drove BTC price action lower. BTC remains at risk of more downsides if there is a close below the $28,800 support. Timothy Petersen believes Bitcoin has a ’50% chance to drop below $25k’ before September ends. According to James Butterfill, Head of Research at CoinShares, the recent trend has been characterized by significant outflows from digital asset investment products. The total outflows for the week amounted to $107 million, marking a continuation of the profit-taking trend that has been gathering pace in recent weeks.
However, Institutional investors have stopped betting against Bitcoin, according to CoinShares’ latest fund report and Bitcoin forms third-ever golden cross – road to new record high begins? Pantera Capital CEO Dan Morehead says that Bitcoin (BTC) has reached a turning point after making it through a lengthy bear market.
Bitcoin's bull run still in its infancy as major holders continue to amass digital asset, according to Bloomberg analyst Jamie Coutts. Meanwhile, Blockstream CEO Adam Back, one of the crypto’s early pioneers, is pretty confident Bitcoin will hit an all-time high of over $100,000 before Bitcoin's halving in 2024 — and is willing to drop a million wagering on it.
An unknown party, identified by ENS name nd4.eth, burned 2,500 ether ($4.5 million) and the exact motive behind this burn remains unknown. Dogecoin creator reacts to 'silly thing' he created a decade ago making its debut on Futurama episode. According to crypto asset manager CoinShares, Bitcoin (BTC) investment products suffered massive outflows in the prior week as investors instead favored funds centered on alternative cryptocurrencies, or altcoins, such as XRP, Litecoin and Solana.
PayPal launches its own crypto stablecoin on Ethereum. However, the launch of PayPal stablecoin doesn’t impact Tether as the firm does not serve U.S. users, its CTO Paolo Ardoino told The Block. House Financial Services Committee Chair Patrick T. McHenry, R-N.C., underscored the need to pass legislation to regulate stablecoins in a statement on Monday and McHenry said the U.S. was “at a crossroads” after PayPal announced the launch of its stablecoin.
Samourai Wallet — an open-source Bitcoin wallet focused on privacy — is working on an implementation of atomic swaps between Bitcoin (BTC) and Monero (XMR) to improve privacy features for its users, as tipped this weekend on Twitter (now X). The “laser eyes” community didn’t like it, proposing a boycott.
XRP advocate and noted attorney, John Deaton, confidently predicts a Ripple victory against the SEC’s appeal.
The Curve Finance exploiter have returned 73% of the stolen funds, but the DeFi project is offering a public bounty of $1.85M for information about their identity that could lead to a conviction — unless the hacker returns the funds in full. In a recent YouTube video, a user shared a harrowing account of her Ledger hardware wallet being hacked, resulting in the loss of thousands of XRP tokens. This incident serves as a stark reminder of the potential risks associated with cryptocurrency storage and the importance of stringent security measures.
Israel’s Bank Hapoalim initially denied Freeman, a 40-year customer, the ability to deposit $273,000 in profit realized from a bitcoin investment made in 2013.
Estonia-based cryptocurrency payments firm CoinsPaid suspects North Korean hackers with the Lazarus Group gained access to its systems through fake recruiters targeting employees. The Federal Bureau of Investigation (FBI) is issuing a warning to investors saying that criminals are posing as developers of non-fungible token (NFT) projects in crypto phishing scams.
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Podcast of the Day: Bitcoin To Go Up By 100% A Year & The Real Reason Why BlackRock Invests In Bitcoin | Preston Pysh | TWOAS
Sources:
Red Cross (Cointelegraph)
Bitcoin Price (NewsBTC | Cointelegraph | Finbold)
Bitcoin Metrics (Finbold | Decrypt)
Bitcoin Analysis (UToday | TDH | Cryptoglobe | Decrypt | Cryptoglobe | Cointelegraph)
Bitcoin Bet (Cointelegraph | TDH)
ETH Burn (TB)
DOGE (UToday)
LTC (UToday)
PayPal Launch Stablecoin (Finbold | Cryptoglobe | TB | Blockworks | Coindesk)
- Response (TB | TB | Coindesk | Decrypt | TB)
Bitcoin Wallet (Finbold)
SEC Ripple Appeal (UToday)
Curve Finance Exploiter (TB | Coindesk | Blockworks | Decrypt)
Ledger Hack (Cryptoglobe)
Bank Denial (Blockworks)
Hacking (Cointelegraph | TDH)
