Crypto Currency

Blockchain security firm Peckshield shared the stats on Halloween night, but also added the month saw $100 million in crypto returned. The month of October has broken all records for crypto exploits and the amount of digital loot pilfered — living up to its new moniker of "Hacktober" — according to the latest figures. On Oct. 31, blockchain security firm PeckShield tweeted some scary statistics for the month, reporting a total of $2.98 billion in stolen digital assets as of Oct. 31, 2022, which is nearly double the $1.55 billion lost in all of 2021. "Hacktober" saw around 44 exploits affecting 53 protocols, it added. Malicious actors made off with a whopping $760 million in the month, however, $100 million had been returned.  #PeckShieldAlert ~44 exploits (53 protocols affected) grabbed ~$760.2M in Oct. 2022, and ~$100M already returned the exploited protocols (Total loss: $657.2M) As of October 2022, the stolen funds (~$3B) in 2022 “doubled” last year’s lo...

A spokesperson from Huobi Global says rumours of layoffs are "untrue" and the "senior management team is performing their duties as per normal." Huobi Global says it has no plans to conduct “large-scale layoffs” and has refuted reports that two of its top executives have resigned amid a takeover of the Seychelles-based crypto exchange. Reports that the company’s chief executive officer (CEO) Leon Li and chief financial officer (CFO) Chris Lee have resigned appeared to have originated from an Oct. 29 Twitter post from Chinese crypto blogger Colin Wu, citing “people familiar” with Huobi. The Twitter post also suggested there could be mass layoffs planned for its 1,600 employees due to “too many people" working at the company. However, a spokesperson from Huobi Global told Cointelegraph that rumors there could be mass layoffs are "untrue" and that its senior management continues to perform their duties “as per normal,” stating: “Huobi Global's...

Crypto exchange Coinbase has filed documentation asking permission to help Ripple Labs in its ongoing legal battle with the SEC. United States-based crypto exchange Coinbase has become the latest organization to stand behind Ripple Labs in its legal battle against the Securities and Exchange Commission (SEC), which could wrap up as soon as the first half of 2023. Paul Grewal, Coinbase’s chief legal officer in a series of tweets on Oct. 31 said the exchange had asked the presiding judge for permission to file an amicus brief, saying the case was a “textbook” definition of “just how critical fair notice is.” Earlier today, @coinbase asked Judge Torres for permission to file an amicus brief in the SEC case over XRP. Our point in pretty simple: this is a textbook case of just how critical fair notice is any reasonable notice of due process under law. 1/3 pic.twitter.com/qhSSGrNgJK — paulgrewal.eth (@iampaulgrewal) October 31, 2022 An amicus brief, known as a “friend of the court,”...

You can’t hang the fate of your decentralized autonomous organization on a single point of failure if you want it to succeed. Decentralized autonomous organizations are paving the way toward community governance for any kind of company. We’re seeing new creative use cases for DAOs, such as GameFi comic books laying the foundation for collectible card game development and support from key players like Ethereum co-founder Vitalik Buterin — who has claimed there is value in shared decision-making to eliminate acts of collusion .  But on the other end of the spectrum, there are DAOs dissolving or running out of Ether ( ETH ) to pay back lenders , and there is also declining optimism. The number of critics is increasing along with their concern over the many attack vectors that affect projects. To put an end to this narrative, DAOs need to explore new structures to remain incorruptible. To that end, multisignature wallets are a necessary step toward users and contributors viewing DA...

Argo Blockchain has been selling its Bitcoin holdings earlier this year to cut debt to Michael Novogratz’s crypto investment firm Galaxy Digital. The London Stock Exchange-listed cryptocurrency firm Argo Blockchain has warned that it’s at risk of ceasing operations due to a lack of financing. The crypto mining company Argo Blockchain continues to explore new financing opportunities after failing to raise major capital from a strategic investor, according to an announcement on Oct. 31. Argo has been seeking to raise about 24 million British pounds ($27 million) via subscription for ordinary shares. “The company no longer believes that this subscription will be consummated under the previously announced terms,” Argo said in a statement. While Argo is exploring other financing options, there can be no assurance that it will sign any definitive agreements or consummate any deals. The firm will continue to work to reach sufficient capital for at least the next 12 months from the day o...

The Monetary Authority of Singapore says crypto exchanges in the country must comply with financial sanctions against Russia. The Monetary Exchange of Singapore (MAS), ​​the country’s central bank and financial regulator, reminded all authorized cryptocurrency exchanges in the country to comply with financial sanctions in place toward Russia.  This statement comes after research that revealed millions in crypto donations raised by pro-Russia groups in support of the ongoing conflict in Ukraine and increased sanctions on Russia from financial authorities around the world. Singapore’s decision puts it in line with European Union's sanctions toward Russia , which were first imposed earlier this year. Initially, the sanctions limited Russia-EU crypto payments to around $10,000. However, the most recent restrictions in early October further tightened measures and banned “all crypto-asset wallet, account, or custody services, irrespective of the amount of the wallet." Around ...

The company changed its name on Oct. 28, 2021, reflecting growing ambitions to transcend beyond social media and into Web3 and the Metaverse. It’s been just over a year since social media giant Facebook rebranded as Meta at the Facebook Connect conference on Oct. 28, 2021. The name change reflected the company’s growing ambitions to transcend past social media and into the world of Web3, crypto, NFTs, and the Metaverse — virtual worlds where consumers are likely to spend more of their time for both work and play. The company has been busy. In December 2021, Meta debuted its Horizon Worlds virtual reality social networking project, while it also  opened up advertising for more crypto ads on Facebook. In April 2022, reports emerged that the company has been considering a digital currency designed for use in the Metaverse internally dubbed as "Zuck Bucks,” though no further updates on the project have been seen since. In May, the company filed five trademark applications f...

DOGE price rallied 98.5% in the last seven days following Elon Musk's acquisition of Twitter, pushing the crypto into the eighth position in global crypto rankings. Tesla CEO and billionaire Elon Musk’s acquisition of Twitter has tipped 62% of Dogecoin (DOGE) investors into profit, amid speculation that Musk’s Twitter-buy will be positive for the meme token. DOGE’s price rallied on Oct. 26 when billionaire entrepreneur Elon Musk changed his Twitter bio to “Chief of Twit” — the same day he visited Twitter’s San Francisco-based headquarters before officially closing the deal as the new owner on Oct. 28. In the past seven days, DOGE’s price has surged 98.5% to $0.119 at the time of writing,  according to CoinGecko. This means that as much as 62% of DOGE holders are “Making Money at Current Price” according to data from blockchain intelligence platform IntoTheBlock — which even beats out Bitcoin (BTC) and Ethereum (ETH) hodlers at 54% and 57% respectively. The events have al...

After last year’s hype over nonfungible tokens, people have been speculating about their potential. It created a bubble of unfounded expectations. Over the last year, venture capitalists poured more than $4.6 billion into infrastructure and projects related to nonfungible tokens (NFTs ). This infrastructure now needs users. They will come when people understand that they can apply these NFTs not just for speculative purposes but to design and structure their everyday activities. For these, they don’t need NFTs — they need to sort their lives out. And, decentralized catalogs are there to help them do it. We can think about an NFT as a book someone owns, and this ownership is recorded on the blockchain. But what we’re actually missing is the library. Not just a flower, but a garden Multiple NFTs making up a collection form a system. This system has a structure through the standards it uses. If you’ve ever visited CryptoKitties, you’ve probably noticed the museum-like categoriza...

Web3 companies continue to hire amidst a bull market as tech giants undergo layoffs and hiring freezes. As inflation continues to grow, coupled with a looming recession, many tech firms are having to cut portions of their staff. To put this in perspective, data from Layoffs.fyi found that over 700 tech startups have experienced layoffs this year, impacting at least 93,519 employees globally. It has also been reported that tech giants like Google, Netflix and Apple are undergoing massive job cuts.  While many of these layoffs are likely due to an economic downturn, this has resulted in an overwhelming amount of talent flocking to early-stage Web3 companies. For example, Andrew Masanto, a serial entrepreneur who has founded a number of startups, told Cointelegraph that he recently launched Nillion, a startup specializing in decentralized computation, to help ensure privacy and confidentiality for Web3 platforms . Although Nillion is still in its early stages, the technological i...

Excitement is taking over for Binance Coin and Dogecoin as market participants see strength continuing. Binance Coin ( BNB ) has hit new all-time highs against Bitcoin ( BTC ) as excitement grows over the crypto’s future role on Twitter. BNB/BTC 1-month candle chart (Binance). Source: TradingView Binance Coin sets new record against BTC Data from Cointelegraph Markets Pro and TradingView confirms that BNB/BTC briefly spiked above 0.15 BTC to a record 0.15267 BTC on Oct. 30. The in-house token of Binance, the largest crypto exchange by volume, has gained around 10% in the past 72 hours. The strong performance came on the back of reports that Binance was preparing to assist Twitter eradicate bots as part of its new direction under Elon Musk. Binance had contributed $500 million to Musk’s takeover of the social media platform. “Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter,” CEO Changpeng Zhao wrote in a cryptic ...

The previous days' trips above the $21,000 mark could be Bitcoin's last for the time being, fresh analysis concludes. Bitcoin ( BTC ) continued consolidating into the Oct. 30 weekly close as concerns over a deeper retracement became vocal. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader avoids new longs below $21,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling levels just below $21,000 on the day. Weekend trading had produced an early return above the $21,000 mark, this short lived as Bitcoin bulls failed to offer the volume to sustain higher levels. Now, popular trader and analyst Il Capo of Crypto sensed a change of direction was ultimately due for Bitcoin and altcoins alike. Altcoins themselves had also performed strongly through the weekend, notably led by Dogecoin ( DOGE ), which was up another 25% in the past 24 hours at the time of writing and at six-month highs. “In my opinion, top is in for $BTC and $ETH...

Zuckerberg’s $100 billion Metaverse experiment first raised eyebrows when the CEO released the avatar for Meta’s Horizon Worlds VR platform. Facebook’s rebranding into Meta was Mark Zukerberg’s latest attempt to retain dominance in the social media world of Web3 , specifically, the Metaverse. On the occasion of Meta completing one year on the rebrand, Sam Bankman-Fried (SBF), the CEO of the crypto exchange FTX, shared his thoughts on the rebranding and what it means for the future of Meta. Zuckerberg’s $100 billion Metaverse experiment first raised eyebrows when the CEO released the avatar for Meta’s Horizon Worlds VR platform. Subsequent releases of the Zuckerberg avatar fell prey to internet memes, although each new iteration seemed visually better than its predecessor. According to Bankman-Fried, Facebook’s growth was not impacted by newer rivals such as TikTok. Rather, he argued that the company “stopped growing because, well, there was no more room to grow.” SBF suspected th...

DOGE price could drop 60% by the end of this year as it reaches its most overbought level since April 2021. The Dogecoin ( DOGE ) price rally extended further on Oct. 29 in hopes that the cryptocurrency would get a major boost from Elon Musk's Twitter acquisition . Elon Musk boosts Dogecoin price again Dogecoin price jumped by nearly 75% to reach $0.146 on Oct. 29, the biggest daily gain since April 2021. DOGE/USD daily price chart. Source: TradingView Notably, the meme-coin's massive intraday rally came as a part of a broader uptrend that started earlier this week on Oct. 25. In total, DOGE's price gained 150% during the Oct. 25-29 price rally. The surge was also accompanied by a decent increase in its daily trading volumes. That coincided with a spike in the number of DOGE transactions exceeding $100,000, according to Santiment. Both indicators sugges a growing demand for Dogecoin tokens among rich investors, or so-called "whales." Dogecoin whale tran...

Bitcoin is getting livelier at current six-week highs, data shows, as profit-taking comes back into the spotlight. Bitcoin ( BTC ) asleep for up to a decade is waking up this week as BTC price action sees six-week highs. Data from on-chain analytics firm Glassnode shows some of the oldest “dormant” bitcoins returning to circulation. BTC trends out of hibernation As BTC/USD stages something of a comeback in the second half of October, hodlers are changing their behavior after a year-long bear market. According to Glassnode, the number of bitcoins previous stationary in their wallet for 7-10 years but not active again reached a one-month high on Oct. 29. This is in fact the latest in a series of such highs, with the previous one seen on Oct. 1. BTC amount of supply last active 7-10 years ago chart. Source: Glassnode/ Twitter Further numbers reveal that the unspent transaction outputs (UTXOs) in profit reached a one-month high of over 73% on Oct. 28, aiming to eclipse level...

Passive income opportunities allow ETH investors and traders to offset losses during periods of market volatility. The cryptocurrency market is incredibly volatile, which can be both good and bad for investors and traders. Volatility creates opportunities for making profits, but it can also lead to losses. Passive income strategies, however, could be handy in offsetting these losses.  Passive income strategies offer investors and traders opportunities to earn profits, even during challenging market conditions such as bear markets . For those investing in Ether ( ETH ), or any crypto in general, earning passive crypto income provides a way to cover market crashes and downturns.   READ ALSO How to earn passive crypto income in a bear market? by Arnold Kirimi about 1 month ago Hodling used to be the primary way to earn interest on one’s crypto assets. But, with the rise of decentralized finance (DeFi) protocols, there are now many ways to earn interest on Ether ...