Month: June 2024

In May, cybercriminals were less successful in their attacks on decentralized platforms, resulting in losses attributed to hacks and fraud incidents amounting to approximately $52.4 million. During the same period last year, digital assets worth $59.3 million were lost to similar attacks. Gala Games, which incurred a loss of $21 million, and Sonnefinance with $20 […] Source: https://news.bitcoin.com/study-crypto-losses-28-lower-in-may-attackers-primarily-targeting-defi-platforms/

U.S. Senator for Wyoming Cynthia Lummis has castigated President Joe Biden over his decision to veto a measure that would disapprove the Securities and Exchange Commission’s Staff Accounting Bulletin No. 121 (SAB 121). Lummis said the measure known as H.J. Res. 109, which had bipartisan support in the U.S. Congress, was intended to end the […] Source: https://news.bitcoin.com/wyoming-senator-cynthia-lummis-castigates-us-president-joe-bidens-veto/

Bitcoin, the pioneer of blockchain technology, has faced challenges as its adoption has grown. With its original design allowing only seven transactions per second, the network often struggles with scalability, leading to high fees and slower transaction times. To address these issues, Bitcoin layer two (L2) solutions have emerged. These projects aim to enhance the […] Source: https://news.bitcoin.com/an-introduction-to-bitcoin-layer-two-solutions/

Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency investments, only to misappropriate their funds for personal use, gambling, and repaying […] Source: https://news.bitcoin.com/ex-banker-sentenced-to-41-months-in-us-prison-for-crypto-fraud-scheme/

Former U.S. President and presidential candidate Donald Trump’s crypto portfolio now exceeds $14 million, according to Arkham Intelligence’s onchain tracking tool. His crypto holdings include a significant amount of meme coins, which were airdropped to him by various developers. Trump has been convicted of 34 felony counts related to falsifying business records, marking the first […] Source: https://news.bitcoin.com/donald-trumps-crypto-portfolio-tops-14m-post-conviction-meme-coin-holdings-soar-says-arkham/

JPMorgan has predicted an initial negative market reaction for spot ethereum exchange-traded funds (ETFs), expecting lower demand compared to bitcoin ETFs. The global investment bank also cautions that approximately $1 billion may exit the Grayscale Ethereum Trust, putting downward pressure on ether prices shortly after the launch of spot ethereum ETFs. ‘Initial Market Reaction to […] Source: https://news.bitcoin.com/jpmorgan-predicts-negative-initial-reaction-for-ethereum-etfs-expects-lower-demand-than-bitcoin-etfs/