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 ...

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In the midst of the buzz surrounding artificial intelligence (AI), a developer has crafted a fresh chat platform that harnesses the power of Openai’s Chatgpt. However, this creation sets itself apart by being trained on a myriad of resources specifically focused on Bitcoin and its enigmatic founder, Satoshi Nakamoto. Meet the AI Chatbot ‘Talk2Satoshi’ On May 31, bitcoin enthusiast and author Pierre Corbin unveiled a chatbot platform infused with the essence of Bitcoin. This unique platform, akin to Openai’s Chatgpt, functions as a conversational program capable of responding to queries and engaging in dialogue with users. What sets talk2satoshi.com apart is that Corbin, with the assistance of Hugo Ferrer , the co-creator, fed the chat program with a diverse array of sources, including Satoshi Nakamoto’s emails and forum posts, Saifedean Ammous’ 2018 book “The Bitcoin Standard,” and Corbin’s own work, “The Great Reset and the Rise of Bitcoin.” Our news team posed a series of inqu...

Blockchain analytics company Elliptic said it’s going to use Openai’s Chatgpt to support its intelligence gathering and research. The AI-based language model will allow its experts to speed up and expand the analysis of new risks related to crypto assets. Blockchain Forensics Firm Elliptic to Employ Chatgpt London-headquartered Elliptic, a leader in blockchain analysis and crypto-asset risk management, announced the integration of the Chatgpt chatbot into its team’s off-chain intelligence and research gathering efforts. The company pointed out in a press release that the solutions it has developed leverage a proprietary dataset consisting of more than a decade’s worth of data, “encompassing over 97% of crypto transactions by trading volume, and the largest collection of crypto exchange risk profiles.” Adding the technology based on artificial intelligence (AI) to Elliptic’s tool set will allow its specialists to concentrate on accuracy and scalability while the large language model...

During the past week, while bitcoin has been less volatile, the BRC20 token economy has been coasting along just below the $500 million range, and today it stands at $475.05 million. Statistics show that BRC20s have increased in value significantly over the past 39 days, rising 1,511% from a total value of $29.48 million to today’s market capitalization of $475 million. Value of BRC20 Token Economy Holds Above $400 Million Since First Week of May Bitcoin’s BRC20 token economy remains just below the half-billion-dollar mark in value, with 24,677 listed BRC20 tokens, according to the BRC20 market aggregation website brc-20.io. Similar to bitcoin’s (BTC) price during the past week, the market capitalization of the BRC20 economy has experienced limited movement and has been lackluster in terms of activity. However, the BRC20 token economy has consistently maintained a value above the $400 million range since the first week of May 2023. Approximately 39 days ago, statistics from the ...

  Iran and Russia have increased cooperation and settled more than 60% of their bilateral trade in the Russian ruble and the Iranian rial, according to the chairman of Iran-Russia Joint Chamber of Commerce. The two countries have ramped up their de-dollarization efforts with Iranian President Ebrahim Raisi calling for the Central Bank of Iran to lay the necessary groundwork to ditch the U.S. dollar in bilateral trade settlements. Iran and Russia Increase Cooperation Amid Heavy Sanctions The head of the Tehran-based Iran-Russia Joint Chamber of Commerce, Hadi Tizhoush Taban, discussed de-dollarization efforts by the two countries Friday in an interview with Iran’s news agency IRNA. He stated that the use of the Russian ruble and the Iranian rial in bilateral trade settlements between Russia and Iran has exceeded 60%. The Joint Chamber chief explained that following the onset of the conflict between Russia and Ukraine, Russia was heavily sanctioned by Western countries, just like...

On June 3, 2023, numerous sources revealed details about an attack on Atomic Wallet that resulted in significant financial losses for many victims. The Atomic Wallet team announced they are looking into the issue, while onchain investigators like Zachxbt have also been digging deeper, searching for explanations. Decentralized Finance Nightmare: Atomic Wallet Compromised, Millions in Crypto Stolen Based on several reports, the decentralized finance (defi) wallet platform Atomic Wallet appears to have been breached. On Saturday, the Atomic Wallet team acknowledged the event on their Twitter account after hearing from affected users. “We have received reports of wallets being compromised. We are doing all we can to investigate and analyse the situation. As we have more information, we will share it accordingly,” stated the Twitter account for Atomic Wallet. Boasting an estimated user base of five million, Atomic Wallet saw several of its users voicing their frustrations after the up...

Changpeng Zhao, the CEO of Binance, doesn’t think buying a bank would solve the crypto industry’s troubles with traditional financial institutions, amid issues his own exchange currently faces in regions like Australia and Europe. In other news, the chairman of Russia’s second-largest bank has said that the Chinese yuan is likely to replace the U.S. dollar as the world’s reserve currency. All this and more, just below, in the latest Bitcoin.com News Week in Review. Binance Buying Bank Not Solution for Banking Problems, Says CEO Changpeng Zhao Acquiring a bank wouldn’t solve the issues with banking for or others, the CEO of the largest crypto exchange is convinced. Speaking in the aftermath of the collapse of crypto-friendly banks in the U.S. and amid Binance’s issues with payment providers in Australia, Changpeng Zhao (CZ) said investments in several banks might be a better option although not a guarantee that crypto won’t be cut off. Read More Crypto Exchange Binance to Remove ...