Was this week the week Bitcoin was freed from the September curse? Or did regulatory crackdowns and cyberattacks steal the show? Here we summarize important cryptocurrency stories.
Virtual currency market movements
Bitcoin breaks the September curse:Bitcoin bucked historical trends and soared instead of falling this September, hinting at potential bullish momentum for the rest of the year.
BlackRock Roasts Coinbase Potato Server With 12-Hour Withdrawal Offerl: BlackRock's request for faster Bitcoin withdrawals from Coinbase has highlighted concerns about the exchange's stability and custody practices, and sparked a debate over centralization and control.
BNY Mellon secures exemption for crypto asset custody services: BNY Mellon has received regulatory approval to provide crypto custody services, suggesting increased adoption by institutional investors, but also raising concerns about regulatory preferential treatment.
Russia to soon legalize industrial cryptocurrency mining: Russia is moving closer to legalizing industrial cryptocurrency mining, potentially increasing its presence in the global mining landscape.
millionaire Zhao Changpeng (CZ) pledged to continue investing in the blockchain space as well as AI and biotech in the crypto mogul's first public comments since his release from US custody: Post-release; CZ has outlined plans to continue investing in blockchain, AI, and biotech, emphasizing long-term impact over short-term gains.
A revolution in cryptographic security
US neutralizes Russian cybercrime network, seizes $1.15 billion: A major international operation targets a Russian cybercrime network, seizes large amounts of funds, and highlights the continued fight against illicit cryptocurrency activity.
Cryptocurrency losses fall by 40% in Q3 2024, but theft exceeds $1.33 billion: Although overall cryptocurrency losses have decreased, theft remains a significant concern, highlighting the need for increased security measures in the cryptocurrency space.
Suspected attack drains $1.7 million from Bedrock DeFi UniBTC pool: An alleged attack on the Bedrock DeFi UniBTC pool caused significant losses and highlighted vulnerabilities in the DeFi protocol.
Scammers achieve 899,900% ROI and $45,000 in losses in poison attacks – Report: A sophisticated poisoning attack demonstrated the evolving tactics of cryptocurrency scammers and the potential for huge profits to be made from malicious exploits.
Truflation suffers $5 million loss due to malware attack: Cryptocurrency inflation data provider Truflation falls victim to a malware attack, highlighting the cybersecurity risks faced by cryptocurrency projects.
MoneyGram Confirms Cybersecurity Issues Behind Continued Outages: MoneyGram's continued outage due to cybersecurity issues has highlighted the vulnerability of centralized financial platforms to cyberattacks.
SEC punishes TrueCoin and TrustToken for fraudulent sales of TUSD:The SEC action against TrueCoin and TrustToken for fraudulent sales of TUSD highlighted the need for regulatory compliance and transparency in the stablecoin market.
Caroline Ellison sentenced to two years in prison for her role in FTX's spectacular collapse: Caroline Ellison was sentenced to two years in prison for her role in the collapse of FTX, bringing some closure to this chapter of the story.
Tips for China’s virtual currency reversal: Will the ban be lifted soon?:While a complete reversal is unlikely, subtle changes in China's stance on cryptocurrencies, including calls for research, suggest a possible softening of its previously hard-line approach.
moving forward into the future
Meta launches cross-platform AI video dubbing, lip-syncing, and image editing: Meta's advances in AI-powered video and image editing tools demonstrated the increasing integration of AI in content creation and social media.
South Korea slams cryptocurrency project, WorldCoin faces backlash with $850,000 fine: WorldCoin faces regulatory scrutiny in South Korea, highlighting the challenges of navigating the diverse regulatory environment for global cryptocurrency projects.
OpenAI proposes a large-scale data center to support AI development: OpenAI's large-scale data center proposal highlights the growing demand for computing power to support rapid advances in artificial intelligence.
Bitcoin, a First Amendment battleground: Is it money or speech?: The ongoing debate over the nature of Bitcoin as money or speech raises fundamental questions about its legal status and implications for free speech rights in the digital age.
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Yona has no cryptocurrency positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. Shib Daily is the official media and publication of the Shiba Inu Cryptocurrency Project. Readers are encouraged to conduct their own research and consult a qualified financial advisor before making any investment decisions.
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