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In recent years, manipulation and hack attacks in the crypto sector have increased; for instance, Mango Markets was one of the networks exploited in 2022, leading to a loss of $ 117 million. After the hack, the network recovered $ 67 million from the attacker named Avraham Eisenberg.
In a recent development, Avraham Eisenberg seeks to keep the remaining funds. Per his attorneys, the exploiter has settled with Mango Markets and should keep his share of the money under dispute.
The Bank of Japan sent tremors through capital markets as it announced a rate target increase for yield curve control, sending global bond yields soaring.
On the evening of December 19, the Bank of Japan (BOJ) announced it had increased its cap on 10-year bond yields from 0.25% to 0.5%, while keeping short- and long-term interest rates unchanged.
The cap at the 0.25% level had been suppressing global bond markets with the use of an unlimited money printer for Japanese debt. This in turn caused a significant deterioration of the yen against the dollar, while the BOJ used its immense pile of Treasurys to occasionally defend the currency against speculators.
A year of steep declines in crypto markets brought another unwanted element – a dramatic increase in scams including “rug pulls.”
CoinDesk
Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.
CoinDesk
2022 has been a difficult year for cryptocurrency. Coming off euphoric highs from the year before, the crypto market has endured an environment of tightening monetary policy, which led to sell-offs, implosions of new projects like TerraLuna, bankruptcies of CeFi companies like Celsius and Voyager Digital and a climactic downfall of the FTX exchange.
CoinDesk
The cryptocurrency-focused financial services firm won an auction to buy the company from crypto lender Celsius, which filed for Chapter 11 bankruptcy protection. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.
CoinDesk
After Jerome Powell’s speech, markets are caught in the middle. Participants are hoping for a pivot. Is the bottom in or is more pain on the horizon?
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.
We want to zoom out and revisit the broader macroeconomic picture and analyze some of the latest data that came out this week, which will heavily influence the market direction over the next few months.
Since the early days of Bitcoin, the price has typically followed the patterns of the stock market and the price of gold. Are we beginning to see a decoupling?
This is an opinion editorial by Mike Ermolaev, head of public relations and content at Kikimora Labs.
The economy is still recovering from the COVID-19 outbreak as new problems arise. We are now in a time of rampant inflation with central banks trying to remedy that by raising interest rates.
U.S. equities rallied following the FOMC’s 75 bps hike in interest rates, only to crash as Fed Chair Powell hinted at higher-than-expected terminal rates.
The Federal Open Markets Committee, the U.S. central bank’s body responsible for setting monetary policy, raised interest rates by 75 basis points on Wednesday for the fourth consecutive time as Federal Reserve governors attempt to battle stubborn inflation levels in the country.
Jerome Powell, Chairman of the Federal Reserve and the FOMC, joined a group of journalists for a press conference shortly after the data release, shedding more light on the central bank’s thoughts for future action.
One of the most important factors in the market is liquidity. The global reduction in liquidity has sent asset classes to new lows and destroys wealth.
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.
By far, one of the most important factors in any market is liquidity — which can be defined in many different ways. In this piece, we cover some ways to think about global liquidity and how it impacts bitcoin.
In the recent news, Mango Markets, a decentralized crypto platform based on Solana, experienced an exploit. According to a source, the attack led to a loss of $ 114 million worth of crypto tokens.
Exploits in the crypto industry are increasingly becoming more rampant on different platforms. The attackers are using innovative approaches to manipulate vulnerabilities in the targeted protocols. Over the years, millions of dollars have been lost through system exploits and attacks.
The exploiter, Avraham Eisenberg, confirmed his involvement in the recent attack on Mango Markets. According to his Sunday statement, he operates with a team that engages in a ‘highly profitable trading strategy. Eisenberg, who described himself as a digital art dealer, refused to reveal the size of his team.
Mango Markets, a decentralized trading platform on the Solana blockchain, has become “ripe for harvest” when it fell victim to hackers who stole more than $ 100 million from the platform, Fortune reported Wednesday.
The hack looked to be the consequence of a price manipulation on Mango Market’s native MNGO token, according to a tweet from the platform.
The perpetrator initially deposited $ 5 million in USDC to the network before opening an unusually big long position, according to a Twitter post by blockchain security firm Hacken.
Analyzing the precarious positions of the world’s fiat economies can drive a conclusion that the Federal Reserve will have to adopt bitcoin.
This is an opinion editorial by Mike Hobart, a communications manager for Great American Mining.
In the wee hours of the morning on Friday, September 23, 2022, markets saw yields on the U.S. 10-year bond (ticker: US10Y) spike up over 3.751% (highs not seen since 2010) shocking the market into fears of breaching 4% and the potential for a run in yields as economic and geopolitical uncertainty continued to gain momentum.
August CPI inflation data was worse than expectated and the markets repriced in response. Bitcoin falls more than 10% and the S&P 500 closes down 4.3%.
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.
The expectation of the Merge, a long-awaited improvement to the Ethereum network, is the primary factor for the recent rebound in cryptocurrencies, according to JP Morgan, which thinks the market has found its bottom despite low trading volumes.
Bitcoin (BTC) and Ether (ETH) have increased by 35% and 101%, respectively, since their mid-June lows, and the overall market value of cryptocurrencies has regained $ 1 trillion, according to data from CoinMarketCap.
In a Monday note to clients, JPMorgan analyst Kenneth Worthington primarily ascribed the shifting economics of the cryptocurrency market to the planned Ethereum Merge that will switch the blockchain from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
Bitcoin’s consistent issuance schedule makes it a consistent asset in times of inconsistent monetary policy. It will outlast any of the Federal Reserve’s plans.
This is an opinion editorial by Adam Taha, a host of a Bitcoin podcast in Arabic and a contributor at Bitcoin Magazine.
Luna’s infamous collapse was followed by an implosion at Celsius, then suddenly Tron showed hints of demise and now Three Arrows Capital is in deep financial trouble. No one knows who’s next, but one thing is certain: more pain is coming. Current market conditions are revealing capital and technological problems in the cryptocurrency world. Things are not good in the Web3-hood.
German financial services giant Deutsche Bank AG is one of the largest and most important economic institutions in the world. Mainly due to self-imposed scandals, the bank is now having to taking drastic measures to stay afloat. Investors everywhere should note that if such a critical piece of the too-big-to-fail banking system falters, it could trigger another global financial crisis.
Also Read: Global Crypto War Is Heating up – Iran Next in Line With Its Own Gold-Backed Coin
The Dow and broader U.S. stock market drifted lower Tuesday after President Trump warned that the trade war with China still has “a long way to go” before reaching its desired conclusion. Dow Under Pressure; S&P 500 Halts Five-Day Win Streak All three of Wall Street’s major benchmarks were under pressure during afternoon trade, mirroring […]
The post Dow’s Record Rally Speeds to the Brink After Trump Shocks Markets appeared first on CCN Markets
CHENGDU, China, July 11, 2019 — BHPA, Inc. (OTCMKTS: BHPA) (“BHPA” or the “Company”), an emerging leader in the cryptocurrency cloud mining marketplace, is excited to announce that it has been approved by the Financial Industry Regulatory Authority to trade under the ticker “BHPA” OTC Markets Group (the “OTC”), as of July 8, 2019. Investors […]
The post BHPA Inc Approved to Trade on OTC Markets Exchange Under “BHPA” Ticker appeared first on CCN Markets
Digital asset markets have been on a tear lately, gaining $ 68 billion in five days. Currently, there’s over $ 100 billion in global trade volumes and crypto bulls don’t seem to be letting up any time soon.
Also Read: How to Find a Bitcoin Cash Meetup Near You
Cryptocurrency markets have seen incredible gains over the last few weeks and between a few small corrections, prices continue to rise. The price of bitcoin core (BTC) has reached a 17-month high and has gathered a market valuation of around $ 228 billion. BTC has about $ 32.9 billion worth of global trade volume and at $ 12,828 per coin, the cryptocurrency is up 40% for the week.
