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Livebitcoinnews
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Lazarus Group’s $5 Million in Stablecoins Frozen Following Investigation
- The Lazarus Group, a notorious hacking organization with links to North Korea, has had nearly $5 million worth of stablecoins frozen by major issuers following an extensive investigation led by blockchain analyst ZachXBT.
- ZachXBT, with support from Metamask, Binance, TRM Labs, and Five I’s LLC, found that the Lazarus Group has been embezzling more than $200 million worth of cryptocurrency from 25 hacks.
- Stablecoins such as USDT, USDC, TUSD, and BUSD have frozen approximately $5 million in two wallets belonging to the Lazarus Group.
- $1.65 million at exchanges is also frozen, bringing the total to $6.98 million. Circle, the issuer of USDC, has been criticized for being slow in freezing the tokens.
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Zycrypto
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Ethereum Plunges to 3-Year Low Against Bitcoin Amid Whale Sell-Off
- Ethereum (ETH) has underperformed against Bitcoin, with the ETH/BTC trading pair dropping to the lowest level since mid-2021.
- Technical indicators suggest that ETH might have bottomed against Bitcoin, but caution is advised due to bearish momentum seen on the Moving Average Convergence Divergence (MACD).
- Whales are selling off Ethereum, with large holders and the Ethereum Foundation cashing out, dampening market sentiment.
- Outflows from Ethereum investment products have reached $117M over the past month, signaling a lack of interest in ETH compared to competing cryptocurrencies.
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Zycrypto
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Michael Saylor’s MicroStrategy Now Holds Nearly 1.2% Of Total Bitcoin Circulating Supply After Latest Buy
- MicroStrategy, co-founded by BTC maximalist Michael Saylor, now holds 244,800 Bitcoins worth around $14 billion.
- This represents almost 1.2% of the total circulating supply of 19.7 million Bitcoins.
- MicroStrategy's Bitcoin holdings exceed those of most spot Bitcoin exchange-traded funds (ETFs).
- The firm regularly issues corporate debt to buy more BTC and advocates for other companies to adopt similar strategies.
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Bitcoinsensus
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Circle Sony Partnership Announcement, USDC Adoption on Soneium
- Circle and Sony have announced a partnership to add USDC compatibility to the Soneium network.
- The integration aims to create a seamless transfer using Bridged USDC, compatible with EVM and stored on the Ethereum network.
- Sony's continued integration into blockchain networks showcases its plans to revolutionize the entertainment industry.
- Circle's expanding presence and partnerships contribute to the growth of the entire Web3 ecosystem.
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Hackernoon
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Constant Product Automated Market Maker: On Rootstock
- The Constant Product Automated Market Maker is a fundamental idea in the decentralized finance (DeFi) ecosystem that ensures that the product of the two tokens in the pool remains constant.
- The constant product formula ensures that the product of the quantities of two tokens in the pool remains constant and prevents the price from being easily manipulated through large trades.
- The Constant AMM works on the following equation: x * y = k, where x represents the quantity of Token A in the liquidity pool, y represents the quantity of Token B in the liquidity pool, and k is a constant value that remains unchanged during swaps until liquidity is added or removed.
- There are three key functions in the Constant Product Automated Market Maker contract: addLiquidity, removeLiquidity, and swap. The addLiquidity function allows a user to deposit two tokens into the pool, ensuring their ratio remains consistent with the existing reserves and mints liquidity provider (LP) tokens based on the user's share.
- The removeLiquidity function allows a user to withdraw their share of liquidity from the pool and calculates the amounts of token0 and token1 to return, while the swap function allows users to exchange one token for another in the liquidity pool by calculating the output amount using the constant product formula with a 0.3% fee.
- The Constant Product AMM contract is deployed using Hardhat on the RSK network using deployment scripts, and it is a decentralized way to trade tokens using a straightforward mathematical formula, ensuring ongoing liquidity and a seamless trading experience without the need for traditional market makers.
- This tutorial on Constant Product Automated Market Maker explained how to create a constant product contract, understood the underlying mathematics, and learned how to deploy it on the RSK network using Hardhat and deployment scripts.
- If you have any questions or wish to contribute, please feel free to open a pull request, report issues, and explore the repository. Happy coding!
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Bitcoinmagazine
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Bhutan’s Bitcoin Holdings Revealed: Kingdom Owns $780M in BTC from Mining
- Bhutan, the Buddhist kingdom on the Himalayas' eastern edge, has been revealed as a major Bitcoin holder.
- Bhutan owns 13,011 BTC worth around $780.49 million, obtained from Bitcoin mining operations.
- The country's mining activities are conducted by Druk Holdings, its investment arm.
- Bhutan's focus on eco-friendly mining is supported by its abundant hydropower resources.
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Cryptopotato
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Coinbase CEO Denies Selling ‘Paper Bitcoin’ to BlackRock and cbBTC Claims
- Coinbase CEO Brian Armstrong denies selling 'paper Bitcoin' to BlackRock and addresses concerns over transparency and reserves.
- Armstrong clarifies that the minting and burning of Bitcoin for BlackRock's spot Bitcoin ETF are conducted transparently and on-chain.
- Coinbase CEO emphasizes that Deloitte audits the company annually, offering public verification of results.
- Concerns also raised regarding Coinbase's wrapped Bitcoin product, cbBTC, with questions about backing and reserves.
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Newsbtc
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Bitcoin Accumulation In Full Swing As $1.3 Billion Exits Exchanges, $75,000 Next?
- Bitcoin accumulation is in full swing as $1.3 billion has been withdrawn from exchanges.
- The trend indicates renewed confidence and interest in Bitcoin among investors.
- Majority of Bitcoin outflows from exchanges occurred when the price was below $60,000, suggesting accumulation in anticipation of a price surge.
- With increasing accumulation, Bitcoin's price could potentially reach $75,000 in the future.
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Coin Telegraph
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50 days until US election, crypto Super PAC pours $7.8M into Senate races
- Crypto interest group, Protect Progress PAC, has spent $7.8 million to support Democratic candidates in US Senate races.
- They spent $4.1 million on media buy for Ruben Gallego in Arizona and $3.7 million for Elissa Slotkin in Michigan.
- Protect Progress is affiliated with crypto-backed Super PACs Fairshake and Defend American Jobs.
- The three PACs have collectively invested millions to support and oppose congressional candidates.
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Hackernoon
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Who Will Be In Bitcoin's Grace In 2024 Presidential Race?
- Bitcoin has become a legit voter and its voting power is undeniable.
- Crypto companies have spent over $121 million to sway elections during this cycle.
- Trump already made a bold promise to turn the U.S. into the “crypto capital of the planet”.
- The Republican former president has long mixed his political and business interests.
- Democratic crypto lobbyists, executives and investors say the industry is at risk of leaning too far right.
- Perhaps, it would’ve been better for Bitcoin to stay away from this presidential election cycle.
- The 2024 presidential election can change that for good.
- So far, one thing about Bitcoin has always been true, it’s neither red nor blue.
- The endless blaming game if the Bitcoin price stops climbing up after January 2025.
- The speculation and headlines have begun: Could November be “the Bitcoin Election”?
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Crypto-News-Flash
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El Salvador to End External Debt by 2025, Is Bitcoin the Answer?
- El Salvador President Nayib Bukele announced that the country will no longer rely on external debt beginning in 2025.
- El Salvador aims for fiscal independence through self-financed budgets and the adoption of Bitcoin as legal cash.
- The country's growing Bitcoin holdings have become a key pillar in its quest for economic independence.
- El Salvador is pushing for further Bitcoin integration, including the establishment of private Bitcoin banks.
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Bitcoinsensus
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Korea Blockchain Week and Key Crypto Industry Prospects
- The Korea Blockchain Week conference attracted 17,000 visitors and 300 speakers, including Vitalik Buterin, Richard Teng and Mark Karpeles.
- Many speakers noted that while blockchain technology is efficient, end-user applications remain lacking.
- Concerns were also raised around regulatory ambiguity and the upcoming US elections.
- Web3 companies are working on improving infrastructure through L2 solutions.
- Creating enough applications that are interesting and convenient for users is now a priority.
- Traditional enterprises need to adopt blockchain to stay competitive.
- Stablecoins and native tokens are growing in popularity and being integrated into traditional services.
- The need for regulatory clarity across Asian jurisdictions was identified as a concern.
- The conference concluded that there is still much work to be done, but the industry remains optimistic.
- Asia is ahead of the US in many ways, making it an important region for crypto investors and enthusiasts to watch.
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Newsbtc
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Nervos Network (CKB) Price Prediction 2024, 2025 & 2026, CKB Whales Add Mpeppe To Crypto Bags
- Nervos Network (CKB) price has risen by 55% in the last 24 hours, driven by strong market fundamentals and institutional interest.
- 2024 price prediction suggests Nervos Network (CKB) could reach $0.01907, a 41% increase from its current price.
- In 2025, Nervos Network (CKB) is expected to experience continued adoption and growth, potentially reaching $0.030.
- By 2026, Nervos Network (CKB) could reach $0.050, with increased interest from institutional investors. CKB whales are adding Mpeppe (MPEPE) to their portfolios.
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Tokenhell
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Second Assassination Attempt on Donald Trump Causes Crypto Market to Bleed
- Bitcoin and Ethereum prices drop following an assassination attempt on Donald Trump.
- Bitcoin and Ethereum prices have dropped 4.2% and 5.4% to $58,488 and $2,279 respectively.
- Approximately $118 million in liquidations have occurred due to the price drops.
- Analysts suggest focusing on rebuilding Ethereum's DeFi ecosystem to attract institutional investors and increase demand for ETH.
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Bitcoinist
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Short-Term Panic For Bitcoin Likely After Upcoming Fed Rate Cut, Market Expert Warns
- A crypto expert warns of a short-term panic in Bitcoin following the upcoming Federal Reserve rate cut.
- The expert anticipates volatility and potential panic if the interest rate is cut by 0.50%.
- The expert advises investors to have a solid plan to survive the short-term panic.
- There is a possibility of a 'Blood Monday' decline if the rate is not cut by 0.50%.
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