Bitcoin News and Finance: What You Need to Know

According to Kronos Research, the crypto trading firm lost assets worth $26 million on Nov. 18 after an unknown party illegally accessed its application programming interface (API). Kronos Research claimed the losses associated with the unauthorized API access do not constitute “a significant portion” of its equity. Breach Does Not Affect Kronos’ Financial Standing On Nov. 18, Kronos Research, a crypto trading firm, revealed that an unknown party had illegally accessed some of its application programming interface (API) prompting it to pause all trading. Kronos Research claimed in a statement shared via X (formerly Twitter) that the value of the stolen funds does not constitute “a significant portion of our equity.” While the crypto firm did not initially disclose the value of the stolen assets, Zachxbt — an online crypto theft investigator — suggested that the cybercriminals had siphoned more than 12,800 ether ( ETH ) worth more than $20.3 million. However, in a later update a...

Argentina has welcomed Javier Milei as its newly elected president, with the libertarian candidate achieving a majority in the popular vote, surpassing his opponent Sergio Massa. Milei, who identifies as an anarcho-capitalist, has expressed his intention to dismantle the political “caste” which he accuses of failing the nation, boldly asserting earlier this year that the state “destroys wealth.” Milei Triumphs in Argentina’s Presidential Race At 53, the libertarian economist Javier Milei has claimed victory over the left-leaning finance minister Sergio Massa to become Argentina’s president. In a recent interview with Tucker Carlson, Milei, an advocate of free-market capitalism, attributed Argentina’s economic challenges to its century of socialist policies. The election on Sunday evening was a decisive run-off, following a tightly contested initial vote where Massa had a narrow lead. Massa conceded defeat to Milei on Sunday before the final vote tally was announced. “The result...

Since October 18, 2023, the aggregate value locked in decentralized finance (defi) has witnessed a substantial augmentation of $9.3 billion within a one-month span. Among the leading ten defi protocols, Rocket Pool, known for its liquid staking services, achieved the most notable growth, soaring by 26.94% during the preceding 30 days. Defi TVL Swells by More Than 25% Since October 18 Approximately 32 days ago, the total value locked (TVL) in decentralized finance (defi) stood at about $36.38 billion, escalating by $9.3 billion to the present figure of $45.68 billion . This reflects a notable growth of approximately 25.56% in the past month. Data reveals that each of the top ten defi protocols by TVL experienced growth in the last month, with Rocket Pool leading the pack by surging 26.94%. As of November 19, 2023, Rocket Pool’s TVL surpasses $2 billion, with over 1.02 million ether committed to its liquid staking platform. At the forefront of the defi domain this weekend is Lido, w...

On Sunday, November 19, 2023, Bitcoin’s hashrate maintained a steady pace at 468 exahash per second (EH/s), surpassing the intended ten-minute block interval average. The most recent block was processed in just 7 minutes and 37 seconds. Present observations suggest that if this trend in block intervals persists, the network could anticipate a 3% increase in difficulty, marking the seventh consecutive rise since September 19. Efficient Mining Tech and Higher Prices Fuel Bitcoin’s Rapid Hashrate Growth in 2023 As of block height 817,532, a significant 93.08% of all bitcoins destined to be in circulation have already been mined, amounting to roughly 19,546,861.78 BTC at the time of writing. Block times have been consistently shorter than the target average of ten minutes, ranging between 9 minutes and 43 seconds to 7 minutes and 37 seconds , with a median average of 9 minutes and 40 seconds over the last day. Despite the previous difficulty adjustment, Bitcoin’s hashrate continues t...