Crypto Week in Review: What Binance Hack?
Each Sunday, we breakdown the most important crypto market news from the past week for SludgeFeed Premium members, including key events and stories you might’ve missed from a variety of news outlets.
Top Headlines This Week ?
According to a recent update by Binance CEO Changpeng Zhao, on May 7 at 17:15:24 (UTC), hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info, in addition to the bitcoin which was moved in a single transaction, somehow bypassing the 100 BTC withdrawal limit.
According to a report published on Monday by Bloomberg, which cites an individual familiar with the matter, Fidelity is planning on rolling out OTC bitcoin trading within the next few weeks.
Over the last six months, technologists spread across London, Singapore and the U.S. have “rebooted” Quorum, the megabank’s private version of the Ethereum blockchain, said Oli Harris, JPM’s head of Quorum and crypto-assets strategy.
According to the prospectus, the new ETF would be managed by Crescent Crypto Index Services LLC, a subsidiary of Crescent Crypto Asset Management LLC. The USCF Crescent Crypto Index Fund (XBET) intends to issue shares that trade on the NYSE Arca stock exchange.
On Saturday, HTC’s Chief Content Officer Phil Chen revealed at the Magical Crypto Conference in New York, HTC is planning to release a low-cost version of its blockchain phone called the Exodus 1s, which will have the capability to act as a full node for the Bitcoin network.
According to a recent report by Bloomberg, 35 firms including DRW Holdings’ crypto unit, Mike Novogratz’s Galaxy Digital (TSXV:GLXY), and Ripple got together in Chicago this week to discuss building a blacklist of groups “known to renege on trades or engage in nefarious activities.”
Brad Sherman, a California Democrat, called for members of Congress to join him in introducing a bill to outlaw cryptocurrency purchases by Americans.
During the May 9 Committee on Financial Services, Sherman claimed that cryptocurrency is supplanting the US dollar in the financial system when it comes to conducting illicit activity.
According to a blog post, Facebook is following up on a previous decision to make companies whitelist prior to posting advertisements related to blockchain technology and other crypto-related information.
Video of the Week ?
7-Day Market Performance ?
- Top-100 Index (ALT100): 22.97%
- Exchange Tokens (ALTEXC): -1.15%
- Privacy Coins (ALTPRV): 12.29%
- Masternodes (ALTMSN): 5.74%
Market Movers ?
More Headlines ?
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.