Bitcoin News and Finance: What You Need to Know

Kyber Network said on Nov. 22 that Kyberswap Elastic “experienced a security incident” in which crypto assets worth more than $45 million were stolen. Kyber Network said it was investigating the incident and urged all “users to promptly withdraw their funds.” Kyber Forks Affected by the Incident Kyber Network, the decentralized exchange (DEX) aggregator, confirmed on Nov. 22 that its market maker known as Kyberswap Elastic had “experienced a security incident.” In a post on X (formerly Twitter), the DEX aggregator said it “strongly advise[d] all users to promptly withdraw their funds” while it investigates the incident. recommend also withdrawing from kyber forks such as Horizondex on Linea until there is more info — Spreek (@spreekaway) November 22, 2023 While Kyber Network has not shared details relating to funds lost, a social media user Spreek said assets worth more than $20 million were stolen when Kyberswap Elastic was initially attacked. However, in later posts, the us...

The U.S. Securities and Exchange Commission’s former head of internet enforcement has detailed why the SEC is a huge winner in the Binance settlements with the U.S. Department of Justice (DOJ), the Treasury, and other federal authorities. He stressed that what Binance has agreed to could “strengthen” the SEC’s lawsuit against the crypto exchange and its former chief executive. ‘SEC Netted a Huge Victory Against Binance’ Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark explained in a lengthy post on social media platform X Wednesday why the settlements between Binance and U.S. authorities, including the Department of Justice (DOJ), are “a huge SEC victory.” He believes that the Binance settlements contain numerous elements that the securities regulator could leverage to bolster its case in the lawsuit against the crypto exchange and its former CEO, Changpeng Zhao (CZ). The DOJ, the Treasury Department, the Financial Crimes Enforcement Network (FinCEN),...

Blackrock, the world’s largest asset manager, has reportedly pushed for using the in-kind creation method for its bitcoin exchange-traded fund (ETF), diverging from the cash creation model favored by the U.S. Securities and Exchange Commission (SEC). According to reports, Blackrock and other spot bitcoin ETF applicants recently met to discuss their applications with the SEC. Blackrock Prefers In-Kind Creation Model The U.S. Securities and Exchange Commission (SEC) seemingly met with Blackrock, the world’s largest asset manager, to discuss the company’s application for a spot Bitcoin exchange-traded fund (ETF) this week, according to Bloomberg research analyst James Seyffart. Noting that Grayscale Investments has engaged with the SEC regarding its bid to convert the firm’s bitcoin trust (GBTC) into a spot bitcoin ETF, the analyst shared insights on social media platform X on Wednesday, along with posting several slides from Blackrock. He wrote : Looks like Blackrock also met wit...

This week, the crypto community is abuzz with discussions about Blast, a new Ethereum layer two (L2) platform. The project gained prominence after securing a notable $20 million in funding, spearheaded by Paradigm and Standard Crypto, among other investors. Developed by Pacman, the entrepreneur behind the non-fungible token (NFT) marketplace Blur, Blast has garnered over $400 million in digital assets in the past week. At the same time, the platform has been scrutinized a great deal over its mechanics. Blast, Ethereum’s L2 Newcomer, Secures $400M On November 20, 2023, Tieshun Roquerre, also known as Pacman, unveiled Blast following the project’s funding from Standard Crypto, Paradigm, and additional investors. As an Ethereum L2 network, Blast stands out by offering native yields for ethereum ( ETH ), staked ethereum (STETH), and stablecoins such as DAI, USDT , and USDC, setting it apart from other L2 solutions. In under a week, Blast has amassed $405 million in value locked, desp...