Binance freezes $5 million in funds looted from BtcTurk after alleged $54 million hack of Turkish exchange
Turkish cryptocurrency exchange BtcTurk announced that a cyberattack affected the cryptocurrency stored in ten of its hot wallets following reports of suspicious transfers of Avalanche tokens on Saturday. The exchange noted that its cold wallets, which contain the vast majority of its assets, remain secure and the company remains solvent, according to the company's announcement.
Binance CEO Richard Teng announced on X that his company, the world's largest crypto exchange, is assisting BtcTurk with the investigation and has frozen "over $5.3 million in stolen funds so far."
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Turkish cryptocurrency exchange BtcTurk announced that a cyberattack affected the cryptocurrency stored in ten of its hot wallets following reports of suspicious transfers of Avalanche tokens on Saturday. The exchange noted that its cold wallets, which contain the vast majority of its assets, remain secure and the company remains solvent, according to the company's announcement.
Binance CEO Richard Teng announced on X that his company, the world's largest crypto exchange, is assisting BtcTurk with the investigation and has frozen "over $5.3 million in stolen funds so far."
#NekoNews @OriNeko
EigenLayer enhances EigenDA security to combat Sybil attacks
EigenLayer has implemented an additional security feature for its EigenDA data availability service on the Ethereum mainnet to prevent Sybil and distributed denial of service attacks.
According to an X post from EigenDA, the whitelist security measure utilizes either an internet protocol address or Ethereum's elliptic curve digital signature algorithm (ECDSA) authentication to ensure enhanced protection and secure access to the service.
ECDSA authentication is a cryptographic method for verifying the identity of a user, device or system. It is based on the principles of public-key cryptography and uses elliptic curve cryptography to ensure secure authentication.
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EigenLayer has implemented an additional security feature for its EigenDA data availability service on the Ethereum mainnet to prevent Sybil and distributed denial of service attacks.
According to an X post from EigenDA, the whitelist security measure utilizes either an internet protocol address or Ethereum's elliptic curve digital signature algorithm (ECDSA) authentication to ensure enhanced protection and secure access to the service.
ECDSA authentication is a cryptographic method for verifying the identity of a user, device or system. It is based on the principles of public-key cryptography and uses elliptic curve cryptography to ensure secure authentication.
#NekoNews @OriNeko
Saylor Highlights Bitcoin’s Dominance Over Other Assets
MicroStrategy co-founder Michael Saylor recently took to X (formerly Twitter) to highlight Bitcoin's dominance over every other asset class. The chart shows that Bitcoin's cumulative returns have reached 21,372,237% since 2011. The nascent cryptocurrency dwarfs the returns of gold, tech stocks, and other assets. Bitcoin has also outperformed every other asset class on an annualized basis, with average returns of 148%.
Bitcoin is currently down 12.73% from its record high, and it is unclear whether it will be able to reclaim its current peak in the near future due to the lack of bullish catalysts. The cryptocurrency is failing to revive its bullish momentum due to the double-whammy of significant outflows from cryptocurrency investment products and persistent inflation that is preventing further rate hikes.
#NekoNews @OriNeko
MicroStrategy co-founder Michael Saylor recently took to X (formerly Twitter) to highlight Bitcoin's dominance over every other asset class. The chart shows that Bitcoin's cumulative returns have reached 21,372,237% since 2011. The nascent cryptocurrency dwarfs the returns of gold, tech stocks, and other assets. Bitcoin has also outperformed every other asset class on an annualized basis, with average returns of 148%.
Bitcoin is currently down 12.73% from its record high, and it is unclear whether it will be able to reclaim its current peak in the near future due to the lack of bullish catalysts. The cryptocurrency is failing to revive its bullish momentum due to the double-whammy of significant outflows from cryptocurrency investment products and persistent inflation that is preventing further rate hikes.
#NekoNews @OriNeko
Light Protocol and Helius Labs introduce ‘ZK Compression’ to further scale Solana apps
Solana-based developers Light Protocol and Helius Labs have launched a new way for applications on Solana to scale using a technology dubbed "ZK Compression," the two firms announced.
ZK Compression works through a process known as state compression, allowing developers to store certain types of data using Solana's cheaper ledger space rather than its more expensive account space. A "hash" or fingerprint of off-chain data is stored on-chain for verification using "sparse state trees," according to ZK Compression's documentation.
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Solana-based developers Light Protocol and Helius Labs have launched a new way for applications on Solana to scale using a technology dubbed "ZK Compression," the two firms announced.
ZK Compression works through a process known as state compression, allowing developers to store certain types of data using Solana's cheaper ledger space rather than its more expensive account space. A "hash" or fingerprint of off-chain data is stored on-chain for verification using "sparse state trees," according to ZK Compression's documentation.
#NekoNews @OriNeko
Digital asset investment products experienced significant outflows for the second consecutive week, totaling $584m:
🎥 Bitcoin saw $630m in outflows, but short positions also decreased by $1.2m
🎥 Ethereum faced $58m in outflows, reflecting negative sentiment
🎥 Multi-asset products had $98m in inflows, indicating investor interest in altcoins
🎥 The US led with $475m in outflows, while Switzerland and Brazil saw inflows of $39m and $48.5m, respectively
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Hong Kong shows off crypto, Web3 prowess in Toronto
Hong Kong government entities dedicated to attracting foreign investments visited a tech conference in Toronto, Canada, to advertise its offshore ready-to-move technology hub for Canadian crypto and Web3 startups.
The Hong Kong Economic and Trade Office in Toronto (Toronto ETO), Invest Hong Kong (InvestHK) and StartmeupHK (SMUHK) co-hosted an event at Collision 2024 in Toronto, highlighting Hong Kong’s crypto-centric landscape.
Speaking at the event, Toronto ETO director Emily Mo underscored existing startup-friendly regulations, such as lower taxes than in Canada and Hong Kong’s willingness to work with “pre-commercial specialist technology companies.”
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Hong Kong government entities dedicated to attracting foreign investments visited a tech conference in Toronto, Canada, to advertise its offshore ready-to-move technology hub for Canadian crypto and Web3 startups.
The Hong Kong Economic and Trade Office in Toronto (Toronto ETO), Invest Hong Kong (InvestHK) and StartmeupHK (SMUHK) co-hosted an event at Collision 2024 in Toronto, highlighting Hong Kong’s crypto-centric landscape.
Speaking at the event, Toronto ETO director Emily Mo underscored existing startup-friendly regulations, such as lower taxes than in Canada and Hong Kong’s willingness to work with “pre-commercial specialist technology companies.”
#NekoNews @OriNeko
Bitget is launching a $20 million TON Ecosystem Fund in alliance with Singapore-based investment firm Foresight Ventures, according to an announcement shared at x post
The $20 million TON Ecosystem Fund aims to support early-stage projects on TON amid the rise of TON-based applications and the native cryptocurrency, Toncoin (TON).
The fund is designed to fully support project development within the TON ecosystem, including providing liquidity on the Bitget platform, the announcement notes.
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Bybit has surpassed Coinbase to become the second-largest cryptocurrency exchange in terms of volume, according to a recent report published by Kaiko. It is now only behind Binance, which dominates the market.
The report outlined that Bybit’s market share surged from 8 percent in October 2023 to 16 percent in June 2024, the highest growth rate among the top exchanges. Coinbase also improved its market share by merely a single percentage point, from 7 percent to 8 percent in the same period. The demand on Bybit surpassed the volume handled by Coinbase last March.
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US spot bitcoin ETFs report $21.5 million in net inflows, extending positive streak
Spot bitcoin exchange-traded funds in the U.S. reported $21.52 million in net inflows on Wednesday, continuing the positive streak that began Tuesday.
The largest net inflows of the day were seen from Fidelity’s FBTC, worth $19 million, according to data from SoSoValue. Grayscale’s GBTC posted net inflows of $4 million, its first positive flow since June 5. VanEck also posted $3 million worth of inflows on Wednesday.
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Spot bitcoin exchange-traded funds in the U.S. reported $21.52 million in net inflows on Wednesday, continuing the positive streak that began Tuesday.
The largest net inflows of the day were seen from Fidelity’s FBTC, worth $19 million, according to data from SoSoValue. Grayscale’s GBTC posted net inflows of $4 million, its first positive flow since June 5. VanEck also posted $3 million worth of inflows on Wednesday.
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A spot Solana exchange-traded fund in the United States may only be possible with a change in the administration and the head of its securities regulator, according to Bloomberg ETF analyst Eric Balchunas.
On June 27, ETF issuer VanEck made a surprise move to file for a spot Solana ETF with the United States Securities and Exchange Commission. Matthew Sigel, head of digital assets research at VanEck, said the new fund, called the VanEck Solana Trust, aims to capitalize on Solana’s decentralized nature, high utility and economic feasibility.
However, Balchunas said his “knee jerk reaction” was that the ETFs wouldn’t be approved as there aren’t any Solana futures ETFs in the United States.But a new U.S. President and a new leadership at the Securities and Exchange Commission in 2025 could change both of those things, Balchunas said in a June 27 X post.
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Spot Ethereum ETF launch delayed by SEC comments
The launch of United States-based spot Ether exchange-traded funds (ETFs), which many expected to occur as early as July 2, has been delayed by the U.S. Securities and Exchange Commission (SEC).
According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, the SEC has taken additional time to return the S-1 forms submitted by prospective spot Ether ETF issuers, pushing the launch to mid-July or later.
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The launch of United States-based spot Ether exchange-traded funds (ETFs), which many expected to occur as early as July 2, has been delayed by the U.S. Securities and Exchange Commission (SEC).
According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, the SEC has taken additional time to return the S-1 forms submitted by prospective spot Ether ETF issuers, pushing the launch to mid-July or later.
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Solana Just Dethroned Ethereum in This Key Metric
According to data provided by DefiLlama, Solana has managed to destroy Ethereum in daily DEX trading volume ($1.148 billion and $745 million, respectively).
Solana-based Raydium, Meteora, Orca, Phoenix and Lifinity are among the top 10 DEXes by daily trading volume. Uniswap and PancakeSwap, of course, remain in the lead.
Overall, DEX volume has hit $26 billion over the past seven days, according to data provided by Dune Analytics. Earlier this year, trading on Solana-based DEXex spiked due to the growing popularity of meme coins.
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According to data provided by DefiLlama, Solana has managed to destroy Ethereum in daily DEX trading volume ($1.148 billion and $745 million, respectively).
Solana-based Raydium, Meteora, Orca, Phoenix and Lifinity are among the top 10 DEXes by daily trading volume. Uniswap and PancakeSwap, of course, remain in the lead.
Overall, DEX volume has hit $26 billion over the past seven days, according to data provided by Dune Analytics. Earlier this year, trading on Solana-based DEXex spiked due to the growing popularity of meme coins.
#NekoNews @OriNeko
Sony Group acquires Amber Japan, officially steps into crypto exchange arena
Sony Group, a Japanese conglomerate known for games, music, and cameras, has officially entered the crypto exchange market with the acquisition of Amber Japan, according to crypto reporter Wu Blockchain. Amber Japan, previously known as DeCurret, is the Japanese subsidiary of the global Amber Group, providing regulated digital asset trading services.
Amber Group expanded its operations to Japan through the acquisition and rebranding of the Japanese crypto exchange DeCurret to Amber Japan in 2022. The company, however, faced financial troubles due to some of its trading capital exposure to the now-defunct crypto exchange FTX.
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Sony Group, a Japanese conglomerate known for games, music, and cameras, has officially entered the crypto exchange market with the acquisition of Amber Japan, according to crypto reporter Wu Blockchain. Amber Japan, previously known as DeCurret, is the Japanese subsidiary of the global Amber Group, providing regulated digital asset trading services.
Amber Group expanded its operations to Japan through the acquisition and rebranding of the Japanese crypto exchange DeCurret to Amber Japan in 2022. The company, however, faced financial troubles due to some of its trading capital exposure to the now-defunct crypto exchange FTX.
#NekoNews @OriNeko
German, US govt's move $150M in crypto
The German and United States governments have drawn significant attention after transferring millions of dollars of crypto holdings. The German government has made substantial Bitcoin transfers, while the U.S. government has transferred Ether from seized funds.
On July 1, the German government moved 1,500 BTC worth roughly $95 million to multiple crypto exchanges, while the U.S. government moved 3,375 ETH worth $11.75 million to an unknown address.
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The German and United States governments have drawn significant attention after transferring millions of dollars of crypto holdings. The German government has made substantial Bitcoin transfers, while the U.S. government has transferred Ether from seized funds.
On July 1, the German government moved 1,500 BTC worth roughly $95 million to multiple crypto exchanges, while the U.S. government moved 3,375 ETH worth $11.75 million to an unknown address.
#NekoNews @OriNeko
Pump.fun’s cumulative revenue crosses $50 million
Solana-based memecoin launchpad Pump.fun’s cumulative revenue has crossed $50 million, according to DefiLlama data.In the past 24 hours, the platform generated over $598,000 in revenue. Pump.fun emerged as a popular platform amid the recent meme-token boom, where its ease of use and Solana’s low transaction fees led to the creation of countless political themed cryptocurrencies, celebrity tokens and other tokens.
So far, over 1.18 million memecoins have been deployed via pump.fun, according to data from Dune Analytics. The platform saw its daily fees taper off recently due to unfavorable broader market conditions
Meanwhile, crypto data aggregator Dexscreener launched a rival memecoin launchpad named Moonshot, which is also Solana-based. The platform has accumulated nearly $500,000 in revenue in its debut week, according to DefiLlama data.
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Solana-based memecoin launchpad Pump.fun’s cumulative revenue has crossed $50 million, according to DefiLlama data.In the past 24 hours, the platform generated over $598,000 in revenue. Pump.fun emerged as a popular platform amid the recent meme-token boom, where its ease of use and Solana’s low transaction fees led to the creation of countless political themed cryptocurrencies, celebrity tokens and other tokens.
So far, over 1.18 million memecoins have been deployed via pump.fun, according to data from Dune Analytics. The platform saw its daily fees taper off recently due to unfavorable broader market conditions
Meanwhile, crypto data aggregator Dexscreener launched a rival memecoin launchpad named Moonshot, which is also Solana-based. The platform has accumulated nearly $500,000 in revenue in its debut week, according to DefiLlama data.
#NekoNews @OriNeko