The Block Crypto News
AI-focused Bitcoin miners are outperforming rivals amid ‘significant upside’ potential for the industry, Bernstein says
➖ Elf Crypto Alert ➖
AI-focused Bitcoin miners are outperforming rivals amid ‘significant upside’ potential for the industry, Bernstein says
➖ Elf Crypto Alert ➖
The Block
AI-focused Bitcoin miners are outperforming rivals amid 'significant upside' potential for the industry, Bernstein says
All public miners have “significant upside” potential from their power portfolios alongside positive bitcoin price action, Bernstein analysts said.
The Block Crypto News
Draper Associates leads $5 million seed round for web3 AI wellness firm CUDIS
➖ Elf Crypto Alert ➖
Draper Associates leads $5 million seed round for web3 AI wellness firm CUDIS
➖ Elf Crypto Alert ➖
The Block
Draper Associates leads $5 million seed round for web3 AI wellness firm CUDIS
CUDIS develops a ring monitoring health metrics, allowing users to access their data via the Solana blockchain and earn passive rewards.
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The Block Crypto News
‘It’s cool to hate Ethereum right now. I bet this ends up looking silly,’ Bitwise CIO says
➖ Elf Crypto Alert ➖
‘It’s cool to hate Ethereum right now. I bet this ends up looking silly,’ Bitwise CIO says
➖ Elf Crypto Alert ➖
The Block
'It’s cool to hate Ethereum right now. I bet this ends up looking silly,' Bitwise CIO says
As the “Microsoft of blockchains,” Ethereum offers a potential contrarian bet into year-end, according to Matt Hougan.
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🔥 TON Foundation and Curve Finance have partnered to create a new stablecoin exchange project based on the TON network.
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The Block Crypto News
New ETFs offer high-stakes 2x exposure to MicroStrategy’s stock: ‘Hot sauce arms race in effect’
➖ Elf Crypto Alert ➖
New ETFs offer high-stakes 2x exposure to MicroStrategy’s stock: ‘Hot sauce arms race in effect’
➖ Elf Crypto Alert ➖
The Block
New ETFs offer high-stakes 2x exposure to MicroStrategy's stock: 'Hot sauce arms race in effect'
The launch of spot bitcoin ETFs in the U.S. earlier this year has led to the rise of these much more high-risk crypto ETFs.
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The Block Crypto News
CME futures traders increase bitcoin short positions ahead of anticipated Fed rate decision volatility, analyst says
➖ Elf Crypto Alert ➖
CME futures traders increase bitcoin short positions ahead of anticipated Fed rate decision volatility, analyst says
➖ Elf Crypto Alert ➖
The Block
CME futures traders increase bitcoin short positions ahead of anticipated Fed rate decision volatility, analyst says
CME bitcoin futures traders remain cautious increasing short positions ahead of today's U.S. Federal Reserve interest rate announcement.
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The Block Crypto News
Modular blockchain network developer Hemi Labs raises $15 million
➖ Elf Crypto Alert ➖
Modular blockchain network developer Hemi Labs raises $15 million
➖ Elf Crypto Alert ➖
The Block
Modular blockchain network developer Hemi Labs raises $15 million
Binance Labs, Breyer Capital and Big Brain Holdings led the round, with further support from Crypto.com, Web3 Ventures, Alchemy and others.
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The Block Crypto News
Hacking group Dark Angels received $75 million in bitcoin, marking the largest known ransomware attack to date
➖ Elf Crypto Alert ➖
Hacking group Dark Angels received $75 million in bitcoin, marking the largest known ransomware attack to date
➖ Elf Crypto Alert ➖
The Block
Hacking group Dark Angels received $75 million in bitcoin, marking the largest known ransomware attack to date
Blockchain research firm Chainalysis estimated that over $450 million was lost to ransomware attacks in the first half of 2024.
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🦄 1inch launches cross-chain swaps
The solution is based on previously introduced resolvers and allows for asset exchanges between networks. How does it work?
➡️ You initiate the swap.
➡️ The new Fusion+ tool locks assets in both networks.
➡️ The swap is completed.
Fusion+ is currently in beta testing. Soon, Fusion+ will be available directly in the 1inch wallet.
The solution is based on previously introduced resolvers and allows for asset exchanges between networks. How does it work?
➡️ You initiate the swap.
➡️ The new Fusion+ tool locks assets in both networks.
➡️ The swap is completed.
Fusion+ is currently in beta testing. Soon, Fusion+ will be available directly in the 1inch wallet.
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The Block Crypto News
Tensions flare at US House hearing after firms get SEC’s sign off to custody crypto, while others still say it’s impossible
➖ Elf Crypto Alert ➖
Tensions flare at US House hearing after firms get SEC’s sign off to custody crypto, while others still say it’s impossible
➖ Elf Crypto Alert ➖
The Block
Tensions flare at US House hearing after firms get SEC's sign off to custody crypto, while others still say it's impossible
During a congressional hearing, some U.S. lawmakers and crypto industry leaders denounced the SEC's approach to regulating crypto.
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The Block Crypto News
Fed cuts interest rates by 50 basis points, bitcoin trades higher
➖ Elf Crypto Alert ➖
Fed cuts interest rates by 50 basis points, bitcoin trades higher
➖ Elf Crypto Alert ➖
The Block
Fed cuts interest rates by 50 basis points, bitcoin trades higher
Bitcoin’s price traded higher on Wednesday afternoon after the Federal Reserve cut interest rates by 50 basis points to the 4.75%-5.00% range.
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The Block Crypto News
Ethena Labs temporarily shutters frontend website after its domain registrar account was compromised
➖ Elf Crypto Alert ➖
Ethena Labs temporarily shutters frontend website after its domain registrar account was compromised
➖ Elf Crypto Alert ➖
The Block
Ethena Labs temporarily shutters frontend website after its domain registrar account was compromised
The project noted the protocol itself is unaffected, but users should avoid “any site or application purporting to be the Ethena frontend."
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The Block Crypto News
The Daily: Bitget and Foresight Ventures invest $30 million in TON blockchain, CME futures traders increase bitcoin shorts ahead of Fed decision and more
➖ Elf Crypto Alert ➖
The Daily: Bitget and Foresight Ventures invest $30 million in TON blockchain, CME futures traders increase bitcoin shorts ahead of Fed decision and more
➖ Elf Crypto Alert ➖
The Block
The Daily: Bitget and Foresight Ventures invest $30 million in TON blockchain, CME futures traders increase bitcoin shorts ahead…
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
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The Block Crypto News
SEC charges DeFi platform Rari Capital with misleading investors and unregistered broker activity
➖ Elf Crypto Alert ➖
SEC charges DeFi platform Rari Capital with misleading investors and unregistered broker activity
➖ Elf Crypto Alert ➖
The Block
SEC charges DeFi platform Rari Capital with misleading investors and unregistered broker activity
The U.S. SEC settled charges against DeFi platform Rari Capital, Inc. after finding that the firm and its co-founders misled investors.
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The Block Crypto News
BlackRock’s new bitcoin paper outlines the cryptocurrency’s qualities as ‘unique’ hedge against global risks
➖ Elf Crypto Alert ➖
BlackRock’s new bitcoin paper outlines the cryptocurrency’s qualities as ‘unique’ hedge against global risks
➖ Elf Crypto Alert ➖
The Block
BlackRock's new bitcoin paper outlines the cryptocurrency's qualities as 'unique' hedge against global risks
Bitcoin has outperformed all other major asset classes in seven of the last 10 years, according to BlackRock's whitepaper.
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The Block Crypto News
PayPal’s PYUSD stablecoin tapped for transaction settlement on new TrueX exchange
➖ Elf Crypto Alert ➖
PayPal’s PYUSD stablecoin tapped for transaction settlement on new TrueX exchange
➖ Elf Crypto Alert ➖
The Block
PayPal’s PYUSD stablecoin tapped for transaction settlement on new TrueX exchange
The exchange was founded by two former high-level Coinbase employees, and will only be available to institutional investors.
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The Block Crypto News
UK fintech firm Revolut intends to launch stablecoin: report
➖ Elf Crypto Alert ➖
UK fintech firm Revolut intends to launch stablecoin: report
➖ Elf Crypto Alert ➖
The Block
UK fintech firm Revolut intends to launch stablecoin: report
Revolut's stablecoin will likely not be available in the United States, as the firm shuttered its U.S. crypto services last year.
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💥 Fed rate cut — -0.5%💥
The U.S. Federal Reserve has lowered the interest rate by 0.5% — the first cut since 2020! The current rate stands at 5%.
✔️ Meanwhile, Arthur Hayes believes that the Fed rate cut will lead to a decline in crypto.
🔽According to him, the rate cut will exacerbate inflation and strengthen the yen, causing a drop in risk assets.
Later, the Fed will continue cutting rates and quickly bring them close to zero. These low levels will positively impact the crypto market, as investors will look for better returns. They will find it in staking Ether, USDe, and BTC through the DeFi platform Pendle. ETH will benefit the most from ultra-low rates, offering a 4% annual yield.
The U.S. Federal Reserve has lowered the interest rate by 0.5% — the first cut since 2020! The current rate stands at 5%.
✔️ Meanwhile, Arthur Hayes believes that the Fed rate cut will lead to a decline in crypto.
🔽According to him, the rate cut will exacerbate inflation and strengthen the yen, causing a drop in risk assets.
Later, the Fed will continue cutting rates and quickly bring them close to zero. These low levels will positively impact the crypto market, as investors will look for better returns. They will find it in staking Ether, USDe, and BTC through the DeFi platform Pendle. ETH will benefit the most from ultra-low rates, offering a 4% annual yield.
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⚠️ Yesterday, a mass hack of accounts on the X social network, aimed at promoting the meme token HACKED on Solana, caught the attention of on-chain sleuth ZachXBT.
Various business pages and personal accounts were compromised. According to ZachXBT’s observations, after the meme creators drained all liquidity, their revenue amounted to just $8,000, resulting in significant losses:
Various business pages and personal accounts were compromised. According to ZachXBT’s observations, after the meme creators drained all liquidity, their revenue amounted to just $8,000, resulting in significant losses:
"They likely spent five to six figures on this method, so they lost money, lol. A serious contender for the title of the most incompetent hacker of the year."
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