This Week in Crypto: Markets, Security And Future Tech

Was this the week Bitcoin broke free from its September curse? Or did regulatory crackdowns and cyberattacks steal the show? Here’s a recap of the crypto stories that mattered.

Crypto Market Movers

Bitcoin Breaks the September Curse: Bitcoin defied historical trends, surging this September instead of slumping, signaling potential bullish momentum for the rest of the year.

BlackRock Roasts Coinbase Potato Servers With 12-Hour Withdrawal Proposal: BlackRock’s demand for faster Bitcoin withdrawals from Coinbase highlighted concerns about exchange stability and custodial practices, sparking debate about centralization and control.

BNY Mellon Secures Crypto Custody Services Exemption: BNY Mellon received regulatory approval to offer crypto custody services, signaling growing institutional adoption but also raising concerns about regulatory favoritism.

Russia to Legalize Industrial Crypto Mining Soon: Russia moved closer to legalizing industrial crypto mining, potentially boosting its presence in the global mining landscape.

Billionaire Changpeng Zhao (CZ) pledged to keep investing in the blockchain sector as well as AI and biotech, in the crypto mogul’s first public comments since his release from US custody: Following his release, CZ outlined his plans to continue investing in blockchain, AI, and biotech, emphasizing long-term impact over short-term returns.

Crypto Security Shakeups

U.S. Cripples Russian Cybercrime Network, Seizes $1.15 Billion: A major international operation targeted a Russian cybercrime network, seizing a substantial sum and highlighting the ongoing battle against illicit crypto activities.

This Week in Crypto: Markets, Security And Future Tech

Crypto Losses Drop 40% in Q3 2024, But Thefts Top $1.33B: While overall crypto losses decreased, thefts remained a significant concern, underscoring the need for enhanced security measures in the crypto space.

$1.7 Million Drained from Bedrock DeFi UniBTC Pool in Suspected Attack: A suspected attack on the Bedrock DeFi UniBTC pool resulted in a substantial loss, highlighting the vulnerabilities of DeFi protocols.

$45,000 Lost in Poisoning Attack as Scammer Nets 899,900% ROI – Report: A sophisticated poisoning attack demonstrated the evolving tactics of crypto scammers and the potential for massive returns on malicious exploits.

Truflation Suffers $5 Million Loss in Malware Attack: Truflation, a crypto inflation data provider, fell victim to a malware attack, underscoring the cybersecurity risks faced by crypto projects.

MoneyGram Confirms Cybersecurity Issue Behind Ongoing Outage: MoneyGram’s ongoing outage, attributed to a cybersecurity issue, highlighted the vulnerability of centralized financial platforms to cyberattacks.

SEC Penalizes TrueCoin and TrustToken for Fraudulent TUSD Sales: The SEC’s action against TrueCoin and TrustToken for fraudulent TUSD sales emphasized the need for regulatory compliance and transparency in the stablecoin market.

Caroline Ellison Gets 2 years prison time for her role in the spectacular collapse of FTX: Caroline Ellison received a two-year prison sentence for her role in the FTX collapse, bringing a measure of closure to one chapter of the saga.

China Hints at Crypto Reversal: Is the Ban Lifted Soon?: While a full reversal is unlikely, subtle shifts in China’s stance on crypto, including calls for research, suggest a potential softening of its previously hardline approach.

Future Forward

Meta Unveils AI Video Dubbing, Lip-Syncing, Image-Editing Across Platforms: Meta’s advancements in AI-powered video and image editing tools showcased the growing integration of AI in content creation and social media.

Worldcoin Faces Backlash As South Korea Slaps Crypto Project with $850,000 Fine: Worldcoin faced regulatory scrutiny in South Korea, highlighting the challenges of navigating diverse regulatory landscapes for global crypto projects.

OpenAI Proposes Large-Scale Data Centers to Support AI Development: OpenAI’s proposal for large-scale data centers underscored the increasing demand for computing power to support the rapid advancement of artificial intelligence.

Bitcoin, A First Amendment Battleground: Is it Money, Or Is It Speech?: The ongoing debate about Bitcoin’s nature as money or speech raises fundamental questions about its legal status and the implications for free speech rights in the digital age.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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