Bitcoin News and Finance: What You Need to Know

The Atomic Wallet team claimed on June 4 that the hacking incident in which digital assets worth nearly $35 million were stolen has only affected less than 1% of its monthly active users. The team also promised to report “victim addresses to major exchanges & blockchain analytics to trace and block the stolen funds.” Atomic Wallet Team Says No Drained Transactions Reported in More Than 40 Hours Just under 48 hours after digital assets worth approximately $35 million were stolen from users of the Atomic Wallet, the team behind the decentralized wallet claimed in a tweet on June 4 that under “1% of monthly active users have been affected/reported.” The team added that the last confirmed drain of user assets had occurred more than 40 hours earlier. As reported by Bitcoin.com News, the statistics of the hack suggested that one individual had lost close to $8 million, while five individuals were thought to account for nearly half of the stolen funds. The Atomic Wallet team initiall...

Following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance and its founder Changpeng Zhao (CZ), the crypto economy experienced a substantial decline of over 5% against the U.S. dollar, reaching a total valuation of $1.13 trillion. Among the leading digital currencies, Binance’s BNB token suffered significant losses, dropping by 9.7% against the dollar in response to the SEC’s allegations. 9,802 Bitcoin Leaves Binance in 24 Hours, BNB and CAKE Suffer Market Losses The market’s response to the news of Binance being sued by the U.S. securities regulator has been far from positive, as indicated by current data. On Monday, crypto markets witnessed a substantial decline of approximately $50 billion in value following the announcement regarding . Among the major casualties of the day, Binance’s BNB coin stood out, experiencing a significant loss of 9.7% within a 24-hour timeframe. It ranked as the second-largest loser on June 5, trailing only behi...

Cryptocurrency markets consolidated to start the week, with bitcoin trading below the $27,000 mark during today’s session. Volatility has been significantly higher in the past few days, as the unemployment rate in the United States surged to a multi-month high. Bitcoin Bitcoin ( BTC ) was trading below the $27,000 level on Monday, as crypto market volatility remained high to start the week. Following a high of $27,407.02 on Sunday, BTC /USD slipped to an intraday low of $26,712.73 earlier in today’s session. As a result of the move, the relative strength index (RSI) fell below a recent support point at the 47.00 level. Bitcoin chart by TradingView The index is now tracking at 44.43, which is marginally above an upcoming floor at the 43.00 mark. Should bears retreat to this point, there is a strong possibility that BTC could collide with a floor of its own at $26,300. Despite this, there is still some optimism from bulls that a recent upwards cross of moving averages c...

Ethereum faces congestion for validators to enter and begin staking in the protocol. According to data from Wenmerge, an information dashboard, more than 90,000 validators are waiting to provide protocol validation services on Ethereum. This means a validator entering the queue today must wait more than 46 days to be activated and begin its tasks. Ethereum Validator Queue Grows Congested Ethereum, the second largest cryptocurrency by market cap, is experiencing a boom in entities trying to provide validation services for its blockchain. The number of validators now waiting in line to start these services on top of Ethereum is over 90,000, with the queue experiencing a rise since the Shapella update, which opened the way for Ethereum withdrawals. This growth in the number of validators waiting in the queue also determines an increase in the waiting times for such validators to start their tasks. If a validator applies to be activated now, it will have to wait at least 46 days to pr...

Arthur Hayes, the former CEO of Bitmex, predicted the coming of a bitcoin bull market in the last two quarters of 2023. In his latest article, Hayes states that for investors, patience is vital, as he explains that the U.S. Federal Reserve will be unable to control inflation as the U.S. debt will lose its appeal for foreign investors due to sanctions. Former Bitmex CEO Arthur Hayes Predicts Bitcoin Bull Market Arthur Hayes, economic analyst and former CEO of has predicted the imminent coming of a bitcoin bull market as the economic variables of the U.S. worsen later this year. In his article “Patience is Beautiful,” Hayes changes his earlier recommendations about taking a wait-and-see approach to crypto investments. To him, the destination of the global economy is clear, even if the path might change due to interference. Hayes declares : Money printing, yield curve control, bank failures, etc. will all come to pass, starting in America and eventually spreading to all major fiat m...

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Tether announces a sustainable Bitcoin mining project in Uruguay, Brazil’s President Lula proposes a shift away from the U.S. dollar, and Argentina advances its de-dollarization push. Tether Announces Sustainable Bitcoin Mining Project in Uruguay Tether, the company behind the issuance of the biggest stablecoin by market cap, has announced the start of a new sustainable Bitcoin mining project in Uruguay. As part of its recent expansion to the energy sector, Tether stated that it is now “investing in renewable energy sources to support and promote sustainable bitcoin mining—an essential component in upholding the world’s most robust and secure monetary network.” Tether chose Uruguay for this operation due to the particular characteristics the country presents, stating that “an impressive majority of Uruguay’s energy production comes from renewable s...

The CEO of the world’s largest asset manager, Blackrock, has warned that the United States is jeopardizing the U.S. dollar’s reserve currency status. He noted that the debt ceiling debate, risk of national default, and possible credit rating downgrades are “destabilizing” factors for the USD. He also predicted that the Federal Reserve will hike interest rates at least two more times. Larry Fink on Rate Hikes and Inflation Larry Fink, CEO of Blackrock, the world’s largest asset manager, shared his view on the U.S. economy, future interest rate hikes, and the U.S. dollar’s reserve currency status at a Deutsche Bank financial services conference Wednesday. The executive expects the Federal Reserve to hike interest rates at least two more times, emphasizing: The Fed is not finished … Inflation is still too strong, too sticky. “The Fed is going to have to be more vigilant,” Fink said, noting that while “The economy is more resilient than the market realizes,” there are “pockets of prob...

Rosbank has become the first large Russian bank to offer clients an option to use cryptocurrencies in international settlements. The solution, provided in tandem with a Russian fintech, is mostly intended to meet the needs of businesses working with foreign partners. Russian Companies to Be Able to Pay Suppliers With Cryptocurrency Through Rosbank One of Russia’s systemically important banks, Rosbank, is launching a solution for cross-border settlements in cryptocurrency, the business daily Vedomosti reported. According to a representative of the financial institution, it is now conducting pilot transactions with corporate and private clients. The bank maintains that the service, which is the first of its kind in the sector, is compliant with current Russian legislation and the requirements of the Central Bank of Russia ( CBR ). The latter remains opposed to the free circulation of cryptocurrencies in the country but has been open to allowing their use in cross-border transactions a...

On June 2, 2023, the Ethereum blockchain explorer and insights web portal, Etherscan, released a new feature that allows users to refine their transaction searches with filters. Onchain sleuths, researchers, and investigators can now narrow down the results in a single view using a variety of new filters. Etherscan Introduces Advanced Filtering Tool Users can now explore the Ethereum blockchain ecosystem and activity in a different manner with the release of Etherscan’s new filter update. The new release, known as “Advanced Filter,” enables users to refine blockchain searches by utilizing specific criteria. “Advanced Filter enables you to analyse a variety of transactions within a single view,” the team’s Twitter account stated . “Filter by transaction type, function name, duration, amounts, assets and from [and] to addresses.” Etherscan provided an example of exploring the transfers and internal transactions linked to Multichain router version 6 during a seven-day period. Users ...