Cryptocurrency exchange Bybit has published a forensic review on last week’s $1.5 billion hack, revealing that its systems had not been infiltrated and that the issue seemed to have stemmed from compromised Safe wallet infrastructure. Bybit concluded from the review that “the credentials of a Safe developer were compromised,” which allowed the Lazarus hacking group…
Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Ben Schiller, managing editor at CoinDesk. In this issue: Ethereum’s Pectra upgrade Goes Live Avalanche Visa card launched Ethereum Foundation executive director leaving Hackers using GitHub to steal bitcoin Network News PECTRA GOES LIVE ON TESTNET: Ethereum’s Pectra…
Core Scientific (CORZ) stock surged more than 11% after-market on Wednesday after the data center and bitcoin mining company said it was planning a $1.2 billion expansion of a data center in Denton, Texas, with CoreWeave, to support artificial intelligence (AI) and high-performance cloud computing (HPC). “The 70 MW [megawatt] of additional contracted power at…
Circle co-founder Jeremy Allaire has called for US dollar-pegged stablecoin issuers to be registered in the United States, emphasizing the need for regulatory clarity as lawmakers introduce new legislation on digital assets. Allaire made the statement during a Bloomberg interview on Feb. 26 amid growing discussions in Washington over stablecoin oversight, a key issue in…
Bitcoin miners that are still drawing electricity from grid-attached power sources will struggle after the next halving event in 2028, MARA Holdings (MARA) said in a shareholder letter. “For those miners still relying on grid-attached power, the writing is on the wall. Energy costs will only rise. The 2028 halving will likely force another industry-wide…
The U.S. Securities and Exchange Commission, the Tron Foundation and Justin Sun filed a joint motion Wednesday asking a federal judge to pause the securities regulator’s ongoing case against the crypto entrepreneur and his company. The motion is similar to motions filed in the SEC’s ongoing cases against Coinbase and Binance. In both cases, the…
Jupiter Exchange has surpassed major decentralized finance (DeFi) players, securing the second-highest daily fee ranking after stablecoin issuer Tether. Additionally, the decentralized exchange (DEX) generated $2.73 million in revenue over a 24-hour period, going above fellow Solana stalwart Pump.fun. Jupiter Usurps Pump.fun According to data from DefiLlama, the exchange has earned $10.88 million in fees…
Bitcoin’s (BTC) price collapsed to $83,223.04 after a 6.5% correction over the past 24 hours. According to a recent Glassnode report, BTC is currently trading in a low-liquidity “air gap” zone between $70,000 and $88,00. It added that the absence of demand heightens the risk of further downside. The report tied the downside pressure to…
A recent report by River revealed that hedge funds and registered investment advisors’ (RIA) exposure to Bitcoin (BTC) via exchange-traded products (ETF) reached $34.3 billion as of Dec. 31, showing a 357% growth last year. The report highlighted that 458 RIAs have BTC exposure, with the weighted average allocation being 0.02%. Notably, investment advisors’ exposure…
Gotbit founder Aleksei Andriunin has been extradited to the US to face charges related to market manipulation and wire fraud conspiracy, according to a Feb. 26 statement by the US Attorney’s Office District of Massachusetts. Andriunin was arrested on Oct. 8, 2024, by authorities in Portugal, where he was living. Following his extradition, he appeared…