Features Today TheBitTimes.com

Cross- chain protocol Orbit Bridge has suffered a hacker attack, resulting in a loss of more than $80 million in multiple cryptocurrencies. In a public X statement, the Orbit Chain team confirmed the incident, saying the root cause of the issue is being carried out with Theori, a web3 auditing firm. The team noted it is “actively engaging with international law enforcement agencies,” without going into detail. Urgent Dear Orbit Bridge Users, An unidentified access to Orbit Bridge, a decentralized Cross- chain protocol , was confirmed on Dec-31-2023 08:52:47 PM +UTC. Further information regarding the issue will be updated. — Orbit Chain (@Orbit_Chain) January 1, 2024 The hack was first spotted by X user @KGJRTG, who revealed that the attacker drained millions of dollars worth of crypto such as Ethereum (ETH), USD Coin (USDC), Tether (USDT) and Wrapped Bitcoin (WBTC) from the cross-chain bridge. You might also like: Pink Drainer hackers stole $4.4m in Li...

As the deadline for potential approval of Spot Bitcoin ETFs looms closer, Bitwise is making waves as it looks set to surpass even the world’s largest asset manager, BlackRock, in terms of seed funds for their respective ETFs.  According to Bitwise’s latest amendment to its S-1 filing with the U.S. Securities and Exchange Commission (SEC), the Schaumburg, Illinois-based company has attracted the interest of an investor prepared to seed its ETF with a substantial $200 million upon launch.  This figure far overshadows BlackRock’s initial seed fund of $10 million and, as Bloomberg analyst Eric Balchunas points out, could be a significant boost in the early race days. Bitwise S-1 has been filed and it looks like someone (I wonder who) is going to seed $BITB with $200m , which blows away BlackRock's $10m (that we know of). That's gonna be huge help in early days of race. No AP named but prob forthcoming. pic.twitter.com/hQ7uW9Occo — Eric Balchunas (@EricBalchunas...

In a very interesting development for the Shiba Inu ecosystem, a whale has transferred an astronomical 4.25 trillion SHIB. Indeed, Whale Alert recognized the transfer that was worth a whopping $44.91 million. Interestingly, the transaction preceded one of similar size just a few days earlier. Specifically, December 26th witnessed another Shiba Inu whale transaction take place. At that time, 2.28 trillion SHIB was on the move in a transfer that was worth more than $23 million. Those tokens were reportedly shifted from the Binance exchange into an unknown wallet. However, could the conjoining transfers be signs of greater price movement soon? 🚨 🚨 4,253,619,279,051 #SHIB (44,909,712 USD) transferred from unknown wallet to unknown wallethttps://t.co/BBTttRFHNO — Whale Alert (@whale_alert) December 29, 2023 Also Read: Shiba Inu: What Will You Do If SHIB Reaches $0.01? SHIB Whale Moves 4.25 Trillion Tokens in Massive $44 Million Transfer Few digital as...

Philippine crypto exchange Coins.ph has announed support for BRC-20 tokens. The exchange has added ORDI, becoming the first platform in the country to support BRC-20 tokens. Coins.ph has added support for BRC-20 tokens, becoming the first Philippine exchange to list tokens based on the new technical standard. BRC-20 is a token standard that allows for the minting of non-fungible tokens on the Bitcoin blockchain. Coins.ph lists ORDI token In the increasingly fast moving crypto sphere, ordinals and BRC-20 has brought smart contract functionality to the world’s flagship cryptocurrency. The inscriptions, which allow users to embed images, texts or audio among other data to sats – the lowest unit of BTC.  ORDI is one of the most popular BRC-20 token. The move allows Coins.ph to offer its customers greater access to the rapidly expanding digital asset market. “ This move signifies that Coins.ph is committed to being at the forefront of ...

A consortium of Nigerian banks, fintechs and blockchain companies is developing the first regulated Naira stablecoin , cNGN. The new stablecoin cNGN will be a consortium-based compliant and regulated Naira stablecoin. cNGN will be pegged 1:1 to NGN, but unlike previous stablecoin drafts, it will be owned by Nigerian banks and will be legal tender. According to Forbes sources, the launch is planned for 2024. Unlike previous versions, cNGN will be a cryptocurrency — like other stablecoin s — and not a CBDC. Also, the coin will be serviced by the consortium and owned by its banks. “Nevertheless, there are still many unknowns about the cNGN that will need to be clarified by the consortium, such as the blockchain it will use and the planned apps and services for consumers.” Forbes You might also like: Nigerian central bank lifts ban on crypto transactions It is noteworthy that just a day ago, transactions with cryptocurrencies were allowed in Nigeria. Previous ...

Natalie Brunell and Michael Saylor believe Bitcoin will be the standout asset of 2024. Factors to catalyze Bitcoin’s anticipated success include Bitcoin spot ETF and halving. Brunell sees the spot Bitcoin ETF replicating the landmark success witnessed in the inception of the S&P 500 ETF. In a recent interview with Fox Business News, Natalie Brunell of Coin Stories Podcast argued the prospects of Bitcoin becoming the standout asset of 2024, a view the billionaire Bitcoin investor Michael Saylor of MicroStrategy consented to. #Bitcoin will be the standout asset of 2024.pic.twitter.com/0RNrWIoV0j — Michael Saylor️ (@saylor) December 26, 2023 The conversation opened with concerns about the recent pullback in the crypto market. Brunell characterized it as a healthy pullback. In parallel, she highlighted Bitcoin’s impressive performance, noting it has surged 60% in the last three months and over 150% throughout 2023. Regarding factors...

Despite facing challenges in surpassing the psychological barrier of $2,500, Ethereum (ETH) might witness a similar outlook by the end of the year. This is suggested by BlockchainCenter’s Ethereum rainbow price chart, reflecting momentum in the broader cryptocurrency market. In particular, specific cryptocurrency traders and investors leverage Ethereum’s rainbow chart to analyze the historical trends of the second-largest cryptocurrency by market capitalization. They examine its relationship with various moving averages (MAs) and identify patterns that can inform more informed investment decisions. The chart indicates that Ethereum is presently situated in the ‘Still Cheap’ phase, represented by the light green color. It fluctuates within the range of $1,597 to $2,306, residing below the ‘Hold’ yellow zone spanning $2,302 to $3,342, based on information observed by Finbold on December 27. Ethereum rainbow price chart. Source: BlockchainCenter P...

The cryptocurrency industry is preparing for what seems to be an impending bull market, driven by multiple market factors, such as the potential approval of a Bitcoin Exchange-Traded Fund (ETF) by the Securities and Exchange Commission. This positive outlook has sparked increased enthusiasm and a Fear of Missing Out (FOMO) among investors, leading to a significant increase in the flow of investment funds into the cryptocurrency market. Overcoming a Temporary Disruption Despite a momentary disruption last week, characterized by a record $16 million in outflows, the market has swiftly rebounded, once again attracting significant investments. This resilience suggests a robust and enduring confidence among investors in the long-term potential of crypto currencies. A Surge in Inflows within a Single Week According to Coinshares’ Head of Research, the cryptocurrency market experienced a substantial inflow of $102.7 million into digital assets between Dec. 18 and 24. Bitcoin (BTC)...

Crypto analyst Moustache identifies a golden cross in the altcoin market cap, signaling a potential major rally. Bitcoin’s relative decline paves the way for altcoin surge; market dynamics shift as altcoins exhibit independent growth trends. Despite positive momentum in altcoins, ‘altseason’ criteria remain unmet, suggesting caution is warranted amid rising market optimism. Altcoins are showing signs of a significant bullish turn. A crypto analyst known as Moustache recently highlighted an impending golden cross in the altcoins market cap’s monthly chart on X. This rare event, marked by the crossing of the SMA-20 (simple moving average) over the MA10, has historically been a precursor to substantial rallies.  Altcoin Markets Surge Similar occurrences in 2016 and 2020 marked the beginning of altcoin bull markets, making this development particularly noteworthy for investors and market watchers. This golden cross event comes when a...

BlackRock has submitted an amended Form S-1 with the SEC for its Bitcoin exchange-traded fund (ETF). According to the filing, the company highlighted its plans to seed fund the ETF. The amended filings made it clear that authorized participants would not hold BTC. In a recent update, the world’s largest asset manager, BlackRock, has submitted an amended Form S-1 with the U.S. Securities and Exchange Commission (SEC) for their Bitcoin exchange-traded fund (ETF), fueling rumors of a possible January launch. In a series of posts on X (formerly Twitter), Bloomberg’s analyst James Seyffart noted that BlackRock plans to allocate a seed fund of $10 million for its spot Bitcoin ETF. For the uninitiated, when a company seeds an ETF, it means they are allocating an initial amount of capital to get it started. BlackRock’s decision to seed its pending ETF is in tandem with a similar move by ETF and Mutual Fund Manager VanEck. In October, VanEck revealed it...

Mags, a technical analyst, noted that BTC may hit $160,000 in the bull market. The Aroon indicator suggests consolidation or decline for BTC as 2023 nears its end. If the SEC approves a spot ETF in January, Bitcoin may hit a new high. Pseudonymous long-term holder of Bitcoin (BTC) and trader Mags has declared that those expecting BTC to drop to $12,000 would be waiting forever. According to the analyst, Bitcoin has risen above its bottom and also passed its re-accumulation phase. The chart shared by Mags showed that the coin was in the early stage of the bull market. He also opined via the chart that BTC has the potential to rise in the $160,000 direction when the bull phase comes in full force.  #Bitcoin is not going to $12k pic.twitter.com/KNu37krpq9 — Mags (@thescalpingpro) December 23, 2023 Bears Have Been Disappointed  Mags’ opinion was a response to a fellow trader Capo of Crypto. In June 2023, Capo of Crypto told the Bitcoi...

The Central Bank of Nigeria (CBN) released a circular containing guidelines on virtual assets service providers (VASPs). The circular signaled a shift from the CBN’s original position, which restricted crypto transactions. According to the CBN, Current trends globally have shown that there is a need to regulate VASPs. On Friday, December 22, the Central Bank of Nigeria (CBN) released a circular containing guidelines on virtual assets service providers (VASPs) to all banks and financial institutions (OFIs) in the country. The circular, signed by the apex bank’s Director of Financial Policy and Regulation Department, Haruna Mustapha, signaled a shift from the CBN’s original position, which restricted crypto transactions. JUST IN: The Central Bank of Nigeria lifts the banking ban on Virtual Asset Service Providers that’s been in place since February 2021.#Bitcoin now has a much clearer path forward in a country of 220 million pic.twitter.com/8rm9WE84V7 — Bitco...

Amid the ongoing cryptocurrency rally and the surge in prices of digital assets, it might be surprising to see that some investors are selling their Bitcoins (BTC).  Over the past week, large Bitcoin holders, often called whales, have offloaded approximately 50,000 BTC, equivalent to about $2.20 billion in value, per the post on X from crypto analyst Ali Martinez on December 22. Bitcoin whales offloaded nearly 50,000 BTC in the previous week. Source: Ali Martinez The move may raise concerns among investors that Bitcoin’s rally is over. However, the actual reasons are unlikely to be bearish in nature. Profit taking behind the sudden selloff A potential rationale behind this abrupt divestment could be profit-taking, considering Bitcoin’s significant bullish trend in recent weeks. Cryptocurrency 3 cryptocurrencies to avoid trading next week Cryptocurrency Elon Musk describes how to solve the money problem; Is it crypto? Crypt...

Sky Bridge CEO Anthony Scaramucci recently took to X and said that the Bitcoin (BTC) cash ETF (Exchange Traded Fund) could be approved next week. Scaramucci says it’s a holiday week, and people aren’t paying attention. Hence, ETF approval news could get buried in the celebrations. Scaramucci states, “ Classic news dump. Market isn’t expecting it. Be ready. “ Just a theory: and don’t be surprised if it happens, but it feels like the bitcoin cash ETF could be approved next week. It’s a holiday week and it’s also a way to bury the news when people aren’t paying attention. Classic news dump. Market isn’t expecting it. Be ready. — Anthony Scaramucci (@Scaramucci) December 22, 2023 Also Read: Bitcoin: Anthony Scaramucci Predicts Spot BTC ETF Approval Date Investors in the US have long waited for a Bitcoin (ETF). It seems like their wishes are close to being granted. Scaramucci had previously predicted an early Jan...

Meme Moguls is a new crypto project in presale. It seeks to combine the decentralised experience of crypto trading with the earning potential of play-to-earn. The native $MGLS is currently priced at $0.0023 and investors looking to seize on its potential future gains are flocking to its presale. The crypto market is showing remarkable resilience amid major gains for top altcoins. As money flows into various positions, it appears the investor community is quietly impressed by one emerging crypto project – Meme Moguls (MGLS). We assess why this project that seeks to be the 100x token is attracting attention and why its presale could be a good time to buy. Meme Moguls (MGLS): A new Ethereum-based gem? Crypto continues to churn millionaires as savvy investor s seize on multiple opportunities , including on meme trailblazers Dogecoin, Shiba Inu, Pepe and recently Bonk. This bull cycle has a few other projects poised too, and one that’s turning inve...

British Virgin Islands court orders freeze, alleging founders’ role in $3.3B 3AC debt. Once celebrated, 3AC founders face prison, regulatory bans, and damaged reputations. Singapore had also issued a domestic freeze order on the founders in September. The co-founders of Three Arrows Capital (3AC), once a crypto hedge fund giant, find themselves entangled in a legal web after a British Virgin Islands court issued a sweeping order, freezing over $1.14 billion in assets belonging to Su Zhu, Kyle Davies, and Davies’ wife, Kelly Chen. The freezing of assets is a stark consequence of 3AC’s 2022 collapse and ensuing $3.3 billion debt, coupled with allegations of founders exacerbating the fund’s financial downfall. Teneo’s claims against 3AC founders Following the ruling in British Virgin Islands Su Zhu, Kyle Davies, and Kelly Chen are now prohibited from transferring or selling the assets totalling a staggering $1.14 billion . This ...

Galaxy Digital CEO predicts Bitcoin ETF approval by Jan 10, citing market dynamics and SEC urgency. Everlodge disrupts real estate with blockchain and fractional ownership. Everlodge’s ELDG token features discounts, rewards, and staking; the Beta presale stage attracts investor attention. Galaxy Digital CEO Michael Novogratz’s recent insights into the highly anticipated Bitcoin ETF approval set the stage for a dynamic landscape for Bitcoin (BTC) and the entire crypto market. As Bitcoin continues to make waves, Everlodge, a unique property marketplace, enters the fray with an innovative approach to fractional vacation home ownership. This article delves into Novogratz’s predictions, the significance of January 10th, and why the Everlodge presale is capturing attention as a promising investment opportunity. Bitcoin ETF approval anticipation  Michael Novogratz, the CEO of Galaxy Digital, has sparked excitement in the cryptocurrency comm...

While remaining notably hawkish on cryptocurrencies and blockchain technology more broadly, China has, nonetheless, made significant strides in the wide field of Web3. The drive most prominent in the media has been the country’s work on the digital yuan – its central bank’s digital currency (CBDC) – but it is far from the only one. Among China’s institutions, the Ministry of Industry and Information Technology (MIIT) – tasked with governing the telecommunications and information technology sector in the wider sense of the term – has been the most prominent when it comes to the country’s blockchain drive. MIIT outlined its Web3 strategy by focusing on four key points of development – boost Web3 research and development and formulate a coherent national strategy document, improve the technical research and supervision framework, work with international actors, track developments abroad, and increase promotional and public awareness efforts. A close...