Economist and gold bug Peter Schiff has cautioned that the approval of spot ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) could negatively impact spot bitcoin ETFs and bitcoin. Speculation is high that the SEC will approve spot ether ETFs this week, as the securities watchdog faces two impending deadlines. Peter
Biden's administration is softening its stance on cryptocurrency. Key developments include ETH ETF rumors and bipartisan support for crypto legislation. Continue Reading: Biden Softens Stance on Cryptocurrency
XRP bulls are starting to come back to life as whales continue accumulating.
PRESS RELEASE. Stake Vault Network proudly introduces Mr. Xavier, the Chief Marketing Officer (CMO), whose strategic vision and expertise are pivotal in revolutionizing staking and node authentication within the blockchain industry. Mr. Xavier’s leadership is essential to the platform’s mission of enhancing security, efficiency, and scalability. Stake Vault Network at a Glance Stake Vault Network
Dogecoin is currently seeing reasonable upside following the Bitcoin recovery above $71,000. This has sent the whole crypto market into a state of euphoria, and the DOGE price has crossed the $0.16 resistance while at it. This bullish trend is expected to continue, as one analyst points out that Dogecoin has formed a bullish triangle
In a recent security incident, Gala Games, a Web3 gaming company, fell victim to an exploit that led to the unauthorized minting of 5 billion tokens, equivalent to approximately $214 million. The hacker behind the breach subsequently sold 592 million GALA tokens, amounting to $21.8 million in value, as blockchain analysis firm Lookonchain confirmed. CEO Of Gala Games Takes Responsibility For Breach Gala Games responded to the breach, assuring the community via social media platform X (formerly Twitter) that the security incident involving the GALA token had been contained and that the affected wallet had been frozen. The company acknowledged the isolated nature of the incident and stated that it had addressed the cause while collaborating closely with law enforcement agencies to investigate the individuals responsible for the breach. Related Reading: Crypto Market Liquidations Top $330 Million In 24 Hours With Ethereum In The Lead Eric Schiermeyer, CEO of Gala Games, expressed his regret over the incident, referencing his previous stance on projects experiencing hacks. Schiermeyer disclosed that the breach led to the unauthorized sale of 600 million GALA tokens, equivalent to $21 million, and the subsequent burning of 4.4 billion tokens. Within 45 minutes, Gala Games identified the compromise and effectively secured and removed unauthorized access to the GALA contract. Reassuring stakeholders, Schiermeyer emphasized that the Ethereum (ETH) contract for GALA remained secure and protected by a multi-signature (multi-sig) wallet, with no compromise detected. Acknowledging internal control shortcomings, Schiermeyer also admitted responsibility for the incident and outlined the steps being taken to prevent its recurrence. Gala Games expressed confidence in identifying the culprit behind the breach. They confirmed active collaboration with the Federal Bureau of Investigation (FBI), the Department of Justice (DOJ), and a network of international authorities to ensure appropriate legal actions are pursued. The incident raised concerns regarding the project’s daily distribution, prompting Gala Games to propose a node vote to address the issue. As per their community-driven approach, the decision on how to proceed will be determined by the community itself. DFW Labs Support In response to the incident, DFW Labs, a Web3 investor and market maker, took action to alleviate selling pressure in the market. They purchased 28 million GALA tokens from the open market to stabilize the value of the token, which had fallen to $0.037 on Monday following the exploit. However, with the investment from DFW Labs, the token rebounded to its current trading price of $0.0431, representing a loss of 7.8% in the last 24 hours. Related Reading: Why Is The Ethereum Price Up 20% Today? Ultimately, Gala Games assured the public that the issue had been contained, with all contracts being secured and increased safeguards being implemented to prevent future occurrences. Featured image from Shutterstock, chart from TradingView.com
Cboe, an exchange associated with five of the issuers of a potential spot ether exchange-traded fund (ETF), published its amended 19b-4 filings in response to feedback from regulators. The applicants include Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares and Franklin Templeton.
As the Fantom (FTM) price climbs to new monthly highs, investors are asking whether it might be too late to buy Fantom. The post Is It Too Late to Buy Fantom? FTM Price Climbs as New AI Project Raises $2.2 Million appeared first on Cryptonews .
Five U.S. asset managers bidding for an Ether ETF have amended their 19b-4 filings with the SEC.
Tuesday, May 21, 2024- As Sealana’s (SEAL) presale passes the $2 million mark, the Solana-based meme coin is poised to become the next crypto to explode in value. Sealana is a playful and culturally resonant meme coin inspired by a patriotic, obese American redneck seal reminiscent of the South Park World of Warcraft character. The The post Sealana Smashes $2 Million Mark in Presale: A New Wave in Solana Meme Coins appeared first on Cryptonews .