Yalla Crypto: Pepe's $15M Heist, JPMorgan's Market Clues, DEA's $55K Blunder, ARK's ETF Push, Pantera's Bullish Call
GLOBAL NEWS?
Pepe Memecoin's $15M Nightmare: Inside Job Sinks Tokens, Team Shrivels
An internal breach within the Pepe memecoin project has sent shockwaves through the cryptocurrency community. The sole remaining controller of the project's multisig has come forward, revealing the alleged involvement of three former colleagues in the theft of approximately 16 trillion Pepe tokens, with an estimated worth of $15 million. The stolen tokens were reportedly traced to popular crypto exchanges including OKX, Binance, Kucoin, and Bybit, before any trail went cold.
JPMorgan: Crypto Market Correction Nearing End, Limited Downside?
JPMorgan's analysis suggests that the recent crypto market correction and liquidations may be fading, signaling a potential end to the challenging phase. According to the bank's evaluation of CME bitcoin futures positions, the unwinding of long positions appears to be wrapping up, leading to a projected limited downside for the crypto markets in the near term. The surge in long positions was fueled by a series of positive developments, including the XRP ruling, PayPal's stablecoin launch, anticipation of SEC-approved bitcoin ETFs, and strategic positioning ahead of the upcoming bitcoin halving event next year, as outlined by JPMorgan's analysts.
Binance Ceases Peer-to-Peer Transactions with Sanctioned Russian Banks
Binance has reportedly suspended the option for users to facilitate peer-to-peer payments through sanctioned Russian banks. This development comes as Binance's peer-to-peer service no longer displays five Russian lenders subject to sanctions on its platform, effectively preventing ruble transfers among users. The move aligns with Binance's commitment to compliance, as stated by a company spokesperson, highlighting the exchange's proactive approach to adapting its systems to meet regulatory requirements.
DEA's $55,000 Cryptocurrency Blunder: Airdrop Mishap Sends Funds to Scammer's Address
In a bizarre turn of events, the Drug Enforcement Administration (DEA), renowned for its role in dismantling Silk Road, has unintentionally fallen victim to a cryptocurrency scam. Reports reveal that the DEA mistakenly transferred more than $55,000 in cryptocurrency during an airdrop blunder. While the funds were secured in a DEA-controlled hardware wallet, a crafty scammer exploited blockchain activities and cleverly manipulated a transaction, siphoning off the funds by mimicking the U.S. Marshalls' account details.?
ARK Invest and 21Shares Collaborate on Ether and Bitcoin Futures ETFs?
In a strategic partnership, Cathie Wood's ARK Invest and 21Shares have jointly submitted an application for the creation of two exchange-traded fund (ETF) products centered around ether (ETH) and bitcoin (BTC). The application, filed with the Securities and Exchange Commission (SEC), introduces the ARK 21Shares Active Ethereum Futures ETF (ARKZ) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY)..
领英推荐
Mastercard and Binance to Halt Crypto Card Services in Selected Countries
Mastercard and Binance have announced the discontinuation of their crypto card programs in Argentina, Brazil, Colombia, and Bahrain, effective from September 22nd. However, this decision will not impact other ongoing crypto card initiatives by Mastercard. The collaboration between Binance and Mastercard allowed users to seamlessly convert cryptocurrency into fiat currency, offering the potential to earn up to 8% cash back in crypto for purchases. While merchants continued to receive fiat currency, customers could utilize their crypto assets for transactions, aimed at promoting wider adoption of cryptocurrencies.
Pantera Capital Views Bitcoin Price at $148,000 Post-2024 Halving Event
Crypto venture fund Pantera Capital has put forth a bold prediction, stating that Bitcoin's price could surge to an impressive $148,000 following the upcoming halving event scheduled for 2024. The prediction is based on the stock-to-flow ratio, a measure of asset scarcity. Pantera anticipates that Bitcoin's price might reach $35,000 before the halving and then skyrocket to $148,000 after the event. Bitcoin halving events historically correlate with price increases due to heightened scarcity. With the next halving set to reduce new supply, combined with recent positive developments such as the XRP ruling and a BlackRock bitcoin ETF application, Pantera Capital believes the digital asset market is poised for a promising rally."
Bankrupt FTX Exchange Partners with Galaxy Digital to Oversee Crypto Holdings
FTX exchange has turned to Galaxy Digital, helmed by Mike Novogratz, to manage its cryptocurrency holdings. FTX's court filing on Wednesday seeks approval to collaborate with Galaxy Asset Management, which is expected to provide investment management services for specific digital assets held within FTX Trading's accounts. Having previously announced the recovery of $7.3 billion in cash and liquid crypto assets in April, FTX's partnership with Galaxy Digital signifies a strategic move towards stabilizing and optimizing their crypto portfolio management during these challenging times.
RAIN NEWS?
Creating investor-friendly regulations for the crypto industry?
Rain Bahrain's General Manager, Mohamed Ateeq, engaged in an insightful discussion about the digital economy in an interview with Oxford Business Group. Explore the in-depth details here.
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