Bitcoin News and Finance: What You Need to Know

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians  Four days ago, on May 31, 2023, the cross-chain protocol Multichain announced on Twitter that the team has been unable to locate the firm’s CEO. As a result, controls to several blockchain network routers have been impaired. The project’s native token, MULTI, has experienced a 1% decline in the last 24 hours and a decrease of over 50% in the past two weeks. Multichain Protocol Struggles as CEO Disappears This week, the cryptocurrency community has been discussing the Multichain Cross-Chain Router Protocol after the team revealed its founder has gone missing. Multichain’s bridge technology allows users to transfer assets between different blockchain networks. As of the time of writing, the decentralized finance (defi) platform holds $1.45 billion in value. “In the past two days, the Multichain protocol has experienced multiple issues due to unforeseeable circumstances,” the t...

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians  While non-fungible token (NFT) sales witnessed a substantial increase in May, demonstrating significant progress, recent data indicates that NFT sales have soared by 39.35% within just the last week alone. Furthermore, sales figures for the trailing week demonstrate that the Bitcoin blockchain maintains its rank as second in weekly sales volume. Ethereum Dominates NFT Market with 60% Share, Bitcoin NFT Sales Capture 17% of Weekly Sales Volume The NFT sales for this week saw a 39.35% growth from last week, amounting to $202.22 million in global sales. The quantity of NFT buyers also expanded by 37.45%, reaching the current week’s total of 724,193 buyers. Besides those two data points, NFT transactions have ascended to 2,350,977 transactions, marking a 6.94% increase compared to the preceding week. In the meantime, sales originating from the Ethereum blockchain led the $202 milli...

The Twitter account of Bitcoin critic Peter Schiff was found advertising a gold-branded token as a result of an apparent hacking. His son, crypto enthusiast Spencer Schiff, warned users in a tweet not to follow the link posted by the unknown attackers trying to lure victims using his father’s name. ‘Dad Almost Certainly Hacked,’ Son Tweets After Peter Schiff Launches $GOLD Token on Twitter Hackers obviously took control of economist Peter Schiff’s Twitter account to promote the supposed launch of a “groundbreaking cryptocurrency token” called $GOLD. A series of tweets posted in the space of a few hours suggested that the digital asset represents tokenized gold and is “a complete and utter gamechanger for gold-backed DeFi” that will “empower the #Web3 community.” “Claim your $GOLD,” as it is “extremely close to selling out,” the perpetrators of the apparent scam urged followers of Schiff, who is a well-known gold proponent but also a vocal critic of cryptocurrencies like bitcoi...

Bitcoin started the weekend in the red, as markets continued to digest the latest nonfarm payrolls in the United States. Despite payrolls coming in better than expected, the unemployment rate also rose, hitting 3.7%, which is its highest point since last October. Bitcoin Bitcoin ( BTC ) was mostly consolidating to start the weekend, as traders continued to digest the latest U.S. nonfarm payrolls data. Payrolls rose to 339,000 last month, which was higher than the 190,000 markets were expecting. Following a low of $26,898.00 on Friday, BTC /USD is trading at $27,149.78 at the time of writing. For many, a recent upward crossover of the 10-day (red) and 25-day (blue) moving averages was a signal that bullish momentum was set to return. However, yesterday’s economic data has added more questions than provided answers, as to what the Federal Reserve could do in its upcoming meeting. A ceiling at $27,300 remains a key hurdle for bulls to overcome, and should this occur, the chances o...

On Friday, Cathedra Bitcoin Inc. announced a partnership with 360 Mining, revealing plans to deploy mobile data centers and application-specific integrated circuit (ASIC) bitcoin miners at 360 Mining’s off-grid location in Texas. 360 Mining and Cathedra Bitcoin Announce Texas Bitcoin Mining Venture According to Cathedra Bitcoin (CBIT), the firm will be deploying bitcoin miners at 360 Mining’s off-grid Texas campus. CBIT will pay $55.00 per megawatt hour for power consumed, plus 10% of gross bitcoin mined at the site, the announcement details. The deal gives CBIT the rights to two megawatts of mining capacity which could produce an estimated 0.054 exahash per second (EH/s) or 54 petahash per second (PH/s) of capacity. If necessary and its “economically advantageous to do so,” the company can abstain from bitcoin mining and sell the natural gas on the open market. “We are excited to begin working with 360 Mining, a company run by bitcoiners who have put in the proof-of-work to dev...