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Crypto, Bitcoin and Blockchain News Admin: @wanwangg More Crypto News: @BitcoinBreaking
💰 Bitcoin is an Insurance Policy Against Financial Disaster: Bill Miller
Despite the market downturn of 2022, legendary value investor Bill Miller remains bullish on his two favorite investments: Amazon, and Bitcoin. In a recent interview, the former chief of Legg Mason called cryptocurrencies “misunderstood,” and referred to Bitcoin as an “insurance policy against financial disaster.”
Miller voiced his opinion on the market in conversation with Marvin McIntyre – Morgan Stanley’s Private Wealth Management managing director – at the Forbes/SHOOK Top Advisor Summit on Thursday. On one hand, the investor acknowledged that well-performing companies over the last decade are now getting crushed in the face of a hawkish Federal Reserve. On the other, he said that this makes for a great opportunity to buy more company shares for cheap.
Source
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🚫 Stolen Crypto Total Hits $3B as Hackers Reemerge After Quiet Summer
Hackers have outdone themselves. With four new exploits reported on Tuesday, $718 million has now been stolen across 11 different DeFi protocols, according to blockchain analytics firm Chainalysis. After only two weeks, that means October has become the biggest month this year for hacker exploits.
That brings the running tally for the year to $3 billion across 125 different hacks, according to Chainalysis, and puts 2022 on track to outdo the all-time high of $3.2 billion for stolen crypto funds set last year. The latest hacks include $100 million stolen from Mango Markets, a Solana DeFi trading platform; a $1 million exploit stolen from the bridge that connects QANplatform to the Ethereum network; and a $2.3 million hack worth of tokens stolen from TempleDAO.
Source
/channel/Crypto_Bitcoin_Blockchain
HUSD Stablecoin Depegs Again Following Huobi Delisting HUSD Trading Pairs
The HUSD stablecoin has depegged to $0.96 and is yet to recover its dollar parity after the Huobi exchange recently announced that it would delist HUSD trading pairs. While not as severe as the depeg that occurred in August 2022 when it hit $0.85, it’s still yet another negative incident for the stablecoin.
Huobi’s dollar-pegged stablecoin HUSD has broken away from its $1 peg again following the delisting of a number of trading pairs of the token on the Huobi exchange. The stablecoin is currently standing at $0.97 and has fallen from its $1 peg for the last 12 hours. Huobi has not commented on the incident yet. In August, when the last depegging happened, Huobi confirmed the price fluctuations and worked with the issuer of HUSD to resolve the issue.
Source
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Bitcoin has been stuck around $55K since Feb 19. I guess we need some consolidation around this magical number: weak hand giving their coins to strong hands. Long term trend (200 week moving average) does not care, goes up every day.
@Bitcoin_Crypto_Signals
#BTC machine is breaking through the resistances one after another. The next one is $57k.
My average exit point is at about $55390. To continue the ascending trend Bitcoin needs to absorb the dump, and I am reminding you that I am planning to return to Bitcoin as soon as the price fixes above $57k.
As it is yet to happen, I plan to enter altcoins with a close stop-loss, due to some of them providing great impulses upwards.
@Crypto_Futures_Trading
BREAKING: YOU CAN NOW PURCHASE A TESLA WITH BITCOIN!
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US Bank Regulator Believes Crypto Issues Taking Up Too Much Mental Space
Michael Hsu, the acting Comptroller of the Currency, said in an interview that authorities might be spending too much time and effort thinking about cryptocurrencies rather than determining the best method to regulate other forms of fintech. He claimed that Crypto is simply taking up a lot of people’s mental space.
The U.S. bank regulator also claimed that his caution over banks’ collaborations with fintech is not intended to hinder such relationships but rather to express his worry that businesses must accurately assess their risks. “Look, bank-fintech partnerships, they’re here to stay. I’m not trying to do away with them,” Hsu noted. “This is the future, so let’s do the future right.” Another Fed regulator also recently advised banks working with cryptocurrency startups.
Source
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📶SEC rejects WisdomTree’s Spot Bitcoin ETF
The U.S. Securities and Exchange Commission (SEC) has rejected the Wisdom Tree Bitcoin Trust ETF, as it has no valid measure to protect investors against market manipulation. A surveillance-sharing agreement allows market participants to easily share market trading and clearing activist and customer identity in the event of any price manipulation of BTC.
The SEC in an Oct. 11 release noted that it had to reject the filing by BZX Exchange, as the bitcoin-ETF issuer does not have a significant surveillance sharing agreement with a regulated market for bitcoin. According to the SEC, the surveillance agreement is crucial before it can approve any spot bitcoin-ETF, given that the market for bitcoin is highly unregulated. The first Wisdom Tree spot bitcoin ETF was also rejected in December 2021 on grounds of investor protection.
Source
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Ethereum adds 135,000 new addresses marking the highest daily network growth in 2022
The Ethereum (ETH) network, which officially marked its transition from the Proof-of-Work (PoW) to the Proof-of-Stake (PoS) algorithm after the Merge upgrade, is currently showing some encouraging signs after increasing the number of addresses added on the network, thus ‘hinting at a breakout.’ Ethereum experienced a rise in new addresses established on October 8.
The platform notes 11.1% more network growth than the next highest of 2022 on January 3 and the highest since December 7, 2021. Santiment noted, ‘utility rises commonly foreshadow potential asset breakouts.’. The number of new addresses being added to the Ethereum network recently hit an all-time high, according to a cryptocurrency analytics platform, Glassnode, on October 10.
Source
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SmartKey Partners with Ferrum Network!!!🏆
SmartKey is proud to announce partnership with Ferrum Network, a partnership that will bring you a dedicated service offering for a bridge economy that connects the world of decentralized finance (DeFi) and blockchain with the world of physical values.
https://smartkeyplatform.medium.com/smartkey-partnership-with-ferrum-network-brings-you-a-dedicated-service-bridge-economy-of-tomorrow-4de15db1a55a
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