Crypto Agenda for 26 Monday 2024 Date
We'll be sharing today's daily news and prices of cryptocurrencies.
Daily News
Hackers exploit MicroStrategy social media to orchestrate $440,000 phishing heist
Web3 security firm Scam Sniffer suggested that the most of the funds were stolen from one victim.
Hackers compromised MicroStrategy's Twitter account to promote a fake airdrop of an Ethereum-based MSTR token. The phishing link redirected users to a copycat website where they unknowingly granted attackers access to their funds. The attack resulted in the theft of approximately $440,000, with most funds potentially stolen from a single victim. Phishing scams are common in the crypto space, with attackers often targeting social media accounts of well-known projects to trick unsuspecting users into giving up their funds. In 2023 alone, such attacks have led to the loss of nearly $300 million from over 320,000 crypto users.
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New AI and hardware may crack the code on lost crypto
Advanced AI models, algorithms, and GPU/CPU technologies offer new hopes for recovering billions of dollars of lost digital assets through innovative decryption strategies.
The article discusses the challenges and solutions in recovering lost or inaccessible crypto assets. It highlights the use of advanced AI techniques, modern GPUs and CPUs, and innovative algorithms to enhance the decryption capabilities of crypto recovery services. The article also emphasizes the importance of ethical practices and security measures to protect users from scams and ensure the integrity of the ecosystem.
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Cosmos co-founder says GovGen will show how governance can be used in blockchain development
GovGen, an independent governance-only blockchain, will serve as the voting ground to determine AtomOne's initial chain parameters.
Cosmos co-founder Jae Kwon is creating a new blockchain called AtomOne as a fork of the Cosmos Hub. The purpose of AtomOne is to preserve the security properties of the Cosmos Hub's staking model, which Kwon believes is threatened by a recent proposal that reduced the maximum inflation rate of the native token ATOM.To decentralize the decision-making related to the genesis of AtomOne, Kwon is launching GovGen, an independent, governance-only chain. Holders of the GOVGEN token, a non-transferrable staking token, can vote on proposals to decide AtomOne's initial chain parameters and token distribution.AtomOne will not compete with Cosmos Hub, but will offer a bridge to make the Cosmos Hub more secure.
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Bitcoin network congestion eases as mempool clears in February
Bitcoin's mempool unclogs in February bringing a breath of fresh air to transaction processing.
Bitcoin's mempool congestion, which peaked in late January, has eased significantly in February. The mempool, which holds unprocessed transactions, saw a drop in transaction fees and waiting transactions. This improvement in network capacity may be due to miners prioritizing higher-fee transactions or users adopting efficiency measures. The clearing of congestion coincided with Bitcoin's bullish rally, suggesting a positive impact on investor sentiment.
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What is the role of spot Bitcoin ETFs in modern investment portfolios?
Spot Bitcoin ETFs amass $10 billion in AUM in five weeks, marking a pivotal shift in crypto market dynamics.
Spot Bitcoin ETFs have attracted significant inflows since their launch, with over $10 billion in cumulative funds raised in just five weeks. This has led to renewed interest in Bitcoin and has helped to stabilize its price. Institutional investors are increasingly allocating funds to Bitcoin through ETFs, which is expected to continue in the future. Financial advisors are also beginning to recommend Bitcoin exposure to their clients, as it is seen as a potential hedge against inflation and a way to diversify portfolios. The approval of Bitcoin ETFs has been a major catalyst for the crypto market, and it is likely to continue to play a significant role in shaping the industry moving forward.
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Why a trustless, multichain approach to web3 demands direct integration
Direct integration through chain key cryptography offers a seamless, trustless future for Web3, bypassing security vulnerabilities and enhancing liquidity access.
The article discusses the need for a trustless, multichain approach to Web3 and how direct integration can achieve this. It highlights the challenges of the current fragmented blockchain landscape and the limitations it poses for developers and users. The article proposes direct integration between chains using chain key cryptography as a solution to these challenges. This approach enables seamless transfer of value and information across multiple protocols without the need for third-party bridges or centralized chokepoints. The benefits of direct integration include faster go-to-market times for projects, more freedom for creative teams to experiment, and improved liquidity and user experience for users. The article emphasizes the importance of inclusivity and collaboration in driving broader public adoption of Web3 and sees multichain access powered by chain key cryptography as a key enabler for this future.
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US agencies pause Biden-sanctioned emergency miner survey following lawsuit
US agencies have agreed to pause the survey for one month.
The Energy Information Administration (EIA) has paused a controversial survey of crypto mining firms following a lawsuit from industry members. The lawsuit argues that the survey is an overreach of authority and that crypto mining does not pose a public harm. The EIA had aimed to collect data from 82 crypto-mining firms, and companies that did not comply could have faced $10,000 in daily fines. The survey has been linked to the Biden administration's efforts to address energy consumption concerns related to crypto mining. The EIA is concerned that Bitcoin mining could lead to increased energy consumption during high-demand periods.
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Never-before-seen Satoshi Nakamoto emails add several details to Bitcoin’s origin lore
The emails were shared as evidence by early Bitcoin contributor Martii Malmi in the Crypto Open Patent Alliance (COPA) vs. Craig Wright trial as part of his testimony.
Private email correspondence between Satoshi Nakamoto, the pseudonymous Bitcoin creator, and early contributor Martii Malmi sheds light on Bitcoin's origin and Nakamoto's early thoughts. The emails reveal Nakamoto's awareness of potential legal challenges, his role in creating one of the first Bitcoin exchanges, and discussions on anonymity, mining profits, and environmental impact. Nakamoto's predictions on transaction fees were partially correct, with fees rising significantly in recent years. The emails contradict Craig Wright's claims of being Nakamoto, as they show inconsistencies in his statements and actions. These emails provide valuable insights into Bitcoin's early history and Nakamoto's vision for the cryptocurrency.
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FTX secures court approval to sell 8% Anthropic stake
The sale is expected to add over $1 billion to assets earmarked for repaying creditors.
FTX, the defunct crypto exchange, has secured court approval to sell its 8% stake in AI startup Anthropic Holdings. The stake is valued at over $1 billion, a significant increase from FTX's initial investment of $530 million in April 2022. The proceeds from the sale will be used to repay creditors. FTX's decision to liquidate its stake in Anthropic is part of its ongoing efforts to navigate bankruptcy proceedings and maximize returns for creditors.
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CoinMarketCap launches ‘Oscars of Crypto’ to celebrate industry accomplishments
The awards are scheduled to take place between Feb. 21 and March 6.
CoinMarketCap is launching the inaugural CMC Crypto Awards to recognize accomplishments in the crypto industry. The awards will take place from Feb. 21 to March 6 and will honor excellence across eight categories. Nominees include Ripple, Solana, Chainlink, Ethereum, and Toncoin for Crypto of the Year; Changpeng Zhao, Brian Armstrong, Ryan Selkis, Vitalik Buterin, and Julia Leung for Crypto Leader of the Year; and Uniswap, Unibot, EigenLayer, MakerDAO, and Friend.Tech for Most Innovative DeFi. The awards aim to celebrate innovation, leadership, community engagement, and contributions to the crypto industry.
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Vibrant Finance leverages Neon EVM for groundbreaking DeFi exchange innovation
Vibrant Finance CEO Jimmy Yin said the move would "make liquidity more efficient and foster cooperation between chains."
Vibrant Finance, a decentralized exchange (DEX), has launched on Neon EVM, a Solana-based platform. The DEX uses the Discretized-Liquidity Automated Market Maker (DL-AMM) model to overcome limitations in traditional DeFi exchanges. Vibrant Finance CEO Jimmy Yin is excited about the deployment, which aims to bridge Ethereum's DeFi ecosystem with Solana's liquidity and efficiency. The DL-AMM model offers precise liquidity allocation and advanced trading features. Vibrant Finance is supported by iZumi, a multi-chain DeFi protocol. Neon EVM enables scaling Ethereum dApps on Solana, making it attractive for Vibrant Finance to expand beyond Ethereum. Several DeFi protocols have integrated with Neon, highlighting its growing success. Ethereum is the largest DeFi blockchain, while Solana's TVL recently surpassed $2 billion.
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Uniswap surges 60% after proposing fee reward mechanism for holders
The DEX's native token UNI hit a two-year high of $12.48 after the proposal was submitted, indicating strong community support.
Uniswap's native token, UNI, surged 60% on February 23, 2024, following a governance proposal to introduce a fee reward mechanism for holders. The proposal aims to address low engagement and inactive delegation by incentivizing active participation. The mechanism will link UNI token delegation and staking to a share of the protocol's fee revenue. The community will vote on the proposal on March 1 and 8. If successful, it could become a reference point for other decentralized protocols seeking to enhance active participation and responsible governance practices.
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Prices of Cryptocurrencies (February 2024)
| Symbol | Price |
|---|---|
| STEEM - USDT | 0.2469000 $ |
| BTC - USDT | 51209.470 $ |
| ETH - USDT | 3063.4500 $ |
| BNB - USDT | 390.50000 $ |