Category: AI

Transak,aprominentcryptoon-rampfirm,recentlydisclosedadatabreachaffectingover92,000users,causedbyaphishingattackthatcompromisedanemployee\'slaptop.Thebreach,whichexposedsensitiveKnowYourCustomer(KYC)data,highlightstheongoingvulnerabilitiesinthecryptocurrencysector’scybersecuritydefenses. WhatHappened? InanofficialblogpostonOctober21,Transakrevealedthatamaliciousactorgainedaccesstothelaptopofanemployeethroughaphishingattack.Thisattackallowedtheperpetratortoinfiltrateathird-partyKYCvendor’ssystemthatTransakreliesonfordocumentverification.Thestolendataincludessensitivepersonalinformation,suchasnames,datesofbirth,passports,driver’slicenses,andselfiesof92,554users—approximately1.14%ofTransak’suserbase. However,thecompanyemphasizedthatnofinanciallysensitiveinformationwascompromised.\"Noemailaddresses,phonenumbers,passwords,creditcarddetails,SocialSecuritynumbers,oranyotherfinancialdatawereaffected,\"Transakassuredinitsstatement. TheScopeoftheBreach Thedatabreachisbeingclassifiedas\"mildtomoderate\"inseverity.Transak’sCEO,SamiStart,confirmedthatwhilethebreachincludedbasicidentityverificationdocuments,itdidnotinvolvemorecriticaldatalikefinancialstatementsorSocialSecuritynumbers,reducingtheimmediaterisktousers. Despitethis,aransomwaregrouphasclaimedresponsibilityforthebreach,allegingthattheyhaveaccessedmorethan300GBofsensitivedata,includinggovernment-issuedIDsandfinancialdocuments.TheythreatenedtoreleaseorselltheremainingdataunlessTransakcomplieswithransomdemands.Thegroupridiculeda$30,000offerfromTransaktodeletethedata,brandingitinsufficient. EmployeeMalpractice:TheSourceoftheBreach Transak\'sCEOrevealedthatthebreachoccurredbecausetheemployeehadusedtheirlaptopfornon-work-relatedactivities.Thecompromiseddevicewasinfectedbyamaliciousscript,whichgrantedtheattackersaccesstotheKYCsystem.Theemployeeresponsiblehassincebeenterminated. Startnotedthatthevulnerabilitywasisolatedtoathird-partyKYCvendor.Hedeniedclaimsthatothersystemswerecompromised,stating,\"Anyrumorsaboutaccessingothersystemsarenottrue.Theattackersonlyaccessedthisonevendor’sdata.\" RansomwareGroupNegotiations AlthoughtheransomwaregroupclaimstohaveobtainedsensitivefinancialdocumentsandalargersubsetofTransak’sdata,thecompanyhasrefusedtonegotiate.\"Wedon\'tknowiftheynecessarilydidthisorifthey\'rejustclaimingcreditforit,\"saidStart.Healsoexpressedskepticismaboutthegroup\'sclaimsofhavingmoresensitivedata,challengingthemtoprovideevidenceofadditionalaccess. CryptoIndustry\'sOngoingBattlewithCybersecurity TheTransakbreachisnotanisolatedincidentinthecryptocurrencyworld.Justrecently,FidelityInvestments,amajorplayerinthefinancialservicesindustry,disclosedadatabreachthataffectedover77,000usersbetweenAugust17andAugust19.ThiswasFidelity’sfourthbreachinthepastyear,highlightingthefrequencyofcybersecuritychallengesfacedbyfinancialinstitutions. Transak,akeyplayerinthecryptoindustry,providesfiat-to-cryptogatewayservicesformajorcryptowalletsandexchanges,includingBinance,MetaMask,andCoinbase.Thecompanyfacilitatesnon-custodialon-ramps,makingitanintegralpartofthecryptoecosystem.AsthefirmworkswithregulatorsintheU.S.,U.K.,andtheEuropeanUniontoaddressthebreach,thecryptoindustryisonceagainremindedoftheimportanceofrobustcybersecuritymeasures. Conclusion TheTransakdatabreachservesasastarkreminderofthecriticalimportanceofcybersecurityinthecryptoindustry.Whilethecompanyhasreassureditsusersthatnofinancialdatawasexposed,theleakofpersonalidentificationdocumentsposesaseriousprivacyconcern.Asthecompanynavigatesthefallout,includingastandoffwitharansomwaregroup,thebreachhighlightstheongoingvulnerabilitiesfacedbyeventhemostestablishedplayersinthecryptospace. Transak’shandlingofthisbreachwillbecloselywatchedbyregulators,users,andindustrypeersalike,astheneedforstrongersecurityprotocolscontinuestobeapriorityacrossthecryptocurrencysector. bsc.news

Ripplerecentlymoved200millionXRPmillion,stirringspeculationaboutthepurposeofthetransfer.Thecompanyhasnotprovidedanyofficialexplanation,thoughsomeindustryobserversbelieveitcouldbeconnectedtothefirm’songoingdisputewiththeU.S.SecuritiesandExchangeCommission(SEC). Ripple’s200MillionXRPTransfer Theblockchainpaymentsfirmshiftedawhopping200millionXRP,valuedatover$109million,toanunidentifiedwallettoday,accordingtoWhaleAlertdata.NetizensspeculatedthatthetransfercouldberelatedtolegalproceedingsintheSEClawsuit.However,asofnow,theexactmotivationbehindthetransactionremainsunclear. ThisdevelopmentoccursastheXRPfirm’slegalbattlewiththeSECcontinuestounfold.StuartAlderoty,Ripple’sChiefLegalOfficer,recentlysharedhisthoughtsonthecase,particularlyregardingtheupcomingdecisionfromtheU.S.SecondCircuitCourtofAppeals.ThecaserevolvesaroundtheSEC’saccusationsthattheXRPtokenisanunregisteredsecurity. 🚨🚨🚨🚨🚨200,000,000#XRP(109,416,737USD)transferredfrom#Rippletounknownwallethttps://t.co/w8bqGKNC6C —WhaleAlert(@whale_alert)October21,2024 Alderotyexpressedconfidenceinthefirm’sposition,notingthattheappellatecourtwilleitherupholdtherulingmadebyJudgeAnalisaTorresorbuilduponit.“TheSecondCircuitwilleitheraffirmJudgeTorresorexpandherruling,”Alderotystated.HedownplayedthelikelihoodoftheSECsecuringaremand.Heremarked,“ThebesttheSECcanhopefor(andit’saremotehope)isaremand.” JudgeTorres’sinitialdecision,whichlargelyfavoredRipple,hasbecomeafocalpointofthecase,especiallyherstanceontheFairNoticeDefense.ThisdefensearguesthatRipplehadnofairnoticethatitsactionswereunlawful. AccordingtoAlderoty,JudgeTorreshadmadeitclearduringtheSEC’sappealattemptthatherinitialjudgmentstillstood,andRipple’sdefenses,includingFairNotice,wouldremainsignificantifthecasereturnedtohercourt.“DuringtheSEC’sfailed‘interlocutory’appeal,JudgeTorresmadeitclearthat‘Howey’andallofRipple’sdefenses,includingFairNotice,wouldthenbebackonthetable.” TheFairNoticeDefensebringsintoquestionwhethertheSECprovidedclearguidancethatRipple’sXRPtokenwassubjecttosecuritiesregulations.Alderotyframedthesituationhumorouslyandstated,“TheSECcouldenduparguingtoJudgeTorresthatshewasn’tapersonof‘ordinaryintelligence’whensheruledagainstthem.Awkward.” AlderotylikenedtheSEC’songoingpursuitofRippletoHermanMelville’sfamousnovelMobyDick,castingSECChairGaryGenslerasthedeterminedCaptainAhab.“ThiscasehasalwaysfeltlikeMobyDick(withGenslerstarringasCaptainAhab),”Alderotyremarked.Addinganotherpopculturereference,hesaidthesituationnowresemblesacombinationofMobyDickandthecourtroomcomedyMyCousinVinny,underscoringtheunexpectedtwiststhecasehastaken. OtherPossibleReasonBehindTransfer Inadditiontotheongoinglegaldrama,RipplefounderChrisLarsenrecentlymadeheadlinesfordonating$10milliontoFutureForward,asuperPACsupportingVicePresidentKamalaHarris’s2024presidentialcampaign.SpeculationismountingthatfurtherdonationscouldbemadeviaRipple.Moreover,sometiedtherecenttransferof200millionXRPtothesepoliticalcontributionstowardDemocrats.Nonetheless,theseclaimsholdnotruthasofyetastheofficialshavenotopeneduponthehumungoustransfercurrently. Fornow,thenextkeydevelopmentinRipple’slegalfightwillbetherulingfromtheU.S.SecondCircuitCourtofAppeals.ThedecisioncouldshapethefutureregulatorylandscapeforcryptocurrenciesintheU.S.,whiletheXRPfirmcontinuestodefenditselfagainsttheSEC’sclaims. cryptonewsz.com

IndiancryptoexchangeWazirXistakingnewstepstowardtransparencybyintroducingaProofofReserves(POR)system,followinga$230millionhackinJuly2024andrecentlarge-scalefundtransfers.Inarecentannouncement,WazirXfounderNischalShettyexplainedthePORprocess,whichaimstoprovideaclear,verifiableviewofthecompany’stokenholdings. WazirXFounderDisclosesProof-of-ReservesPlan ThelatestinitiativecomesasWazirXfacesscrutinyoveritsrecentmovementof$72.13millionworthofcryptoassetstorivalexchangeBybit.ShettyelaboratedonthePORsysteminapostonX,detailingthestepstheIndiancryptoexchangeistakingtoenhancetransparency. Henotedthat,afterfilingafourthaffidavitandsharingwalletaddresses,thenextstepinvolvescreatingaconsolidatedviewoftheexchange’stokenholdings.“Thismeanscreatingapagewherewepulldatafromvariouswalletsanddisplaythebalancesforeveryonetosee,”Shettystated. AboutPOR: Nowthataffidavit4isfiledandwehaveprovidedallthewalletaddresses,thenextstepistodisplayaconsolidatedviewofalltokenholdings. Thismeanscreatingapagewherewepulldatafromvariouswalletsanddisplaythebalancesforeveryonetosee.Our… —Nischal(Shardeum)🔼(@NischalShetty)October21,2024 TheprocessiscomplicatedbyWazirX’slargenumberofwallets,withover240,000unsweptwalletaddressesthatcontainrelativelysmallbalances.Shettyacknowledgedthedifficultyinmanagingtheseaccountsbutoutlinedtheplantoinitiallyshowtotalbalancesfortheseaddressestokeeptheinformationmanageable. AccordingtoShetty,theProofofReserveswillbecategorizedintothreedistinctsections:coldwallets,third-partycustody,andthe240,000+unsweptbalances.Thesecondcategory,third-partycustody,remainsparticularlydynamic,withchallengessurroundinglegalandcompliancerequirementsfornewcustodyproviders. “Duringthisinterimperiod,balanceswillbeheldonexchangesthatsupportthesetokens,”Shettyadded.Healsonotedthatwhilediscussionswithfivecustodyprovidershavetakenplace,noneofthemcurrentlysupportallthetokensheldbytheIndianexchange. UproarAroundMassiveTransfers TheintroductionofthePORsystemcoincideswithrevelationsthatWazirXtransferred$72.13millionworthofcryptototheBybitexchange.ThisfundmovementwasidentifiedthroughapublicdashboardcreatedbytheteamatCoinSwitch,aplatformthathasbecomeinvolvedinanalyzingWazirX’srecentwalletdisclosures. InadditiontothetransfertoBybit,approximately$1.5millionwasalsosenttoKuCoin.Thesetransfershaveraisedquestionsabouttheexchange’sfundmanagementpractices,particularlyinlightoftheJulyhack.Thecompromisedexchangehasmadeover240,000walletaddressespublicaspartofanaffidavitfiledwiththeHighCourtofSingapore,followingthecyberattack. However,thevolumeofdisclosedaddresseshasprovendifficultformanyuserstoanalyze,promptingCoinSwitchtostepinwithitspublicdashboard.Thedashboard,developedbyCoinSwitch’steam,aimstosimplifytheinterpretationofthecomplexdatasetreleasedbyWazirX.AshishSinghal,co-founderofPeepalCo,sharedthetoolwiththepublictoassistinvestorsinnavigatingthesituation. CoinSwitch’sinvolvementinthematterisnotwithoutitsowninterests.ThecompanyhasdepositswithWazirXthatitclaimswereillegallyfrozen,leadingCoinSwitchtopursuelegalactionagainstWazirXinanattempttorecoveritsfunds.Hence,thelatestPORdashboardcouldcomeinhandytoresolvethisdisputeandgainbackusertrustiftheexchangeexecutesthemoveproperly. cryptonewsz.com

ThefutureofthecryptomarketmaybedictatedbyconsiderabletokenunlocksplannedtostartonOctober21,2024.Theseeventswillunlockmanytokensthroughprominentprojects,includingtheGuildofGuardians,Moonwell,Ronin,andYieldGuild.Tokenunlockingcanhaveapotentialmarketeffectonliquidityandcausepricefluctuations. MAJORUPCOMINGTOKENUNLOCKS#GuildofGuardians$GOG#UNKJD$MBS#SpaceID$ID#zkLink$ZKL#Moonwell$WELL#Blocklords$LRDS#Radworks$RAD#YieldGuild$YGG#Ronin$RONpic.twitter.com/LVQycf0Ovd —PHOENIX–CryptoNews&Analytics(@pnxgrp)October21,2024 UnderstandingTokenUnlocksandMarketDynamics Tokenunlockingiswhentokenspreviouslylockedandunavailablefortradingbecomeavailableinthemarketatacertainperiod.Thisreleaseinfluencestheavailablenumberoftokensinthemarket,hencemarketflotation.Theseeventsareusuallycloselywatchedbyinvestorsastheycansignalachangeinthesupply-demandtrendandagoodbuyingandsellingpoint. HighlightsoftheUpcomingUnlocks:Moonwell,UNKJD&More TheunlockbeginswiththeGuildofGuardians(GOG)on21stOctober,with6.98Mtokensworth$237,520,equivalentto0.70%ofthetotaltokens.Beinganalreadygrowingblockchaingame,thisunlockmaynotalwaysbethatbigrelativetothepreviousunlocks.However,itstillcausesshort-termpricefluctuationsbasedontheholder’sbehavior. Moonwell(WELL)planstolaunch37MtokensonOct23,withavalueof$2.26M.Thisunlockisequalto0.74percentofthetotalsupplyoftheMoonwell.SincetheMoonwell(WELLtoken)isaDeFI-orientedprotocolthataimstoaddressDeFi-relatedsolutions,releasingmoreWELLtokensmayhaveasweepingeffectonitsliquiditypoolsandtradingvolumes,whichmightsetnewdynamicsintheDeFimarket. TheUNKJDprojectwilllaunch9.03MMBStokens,whichcomprise0.90%oftotaltokensestimatedat$193.31K.ThisunlockcouldradicallyaltertheflowoffundsatMBSandtherebystimulatethemarket. SpaceIDissettounlock18.49MIDtokenson22Oct,or0.93percentofthetotalsupplyvaluedat$7.70M.WhileZKLink(ZKL)willrelease11.65MZKLtokens,whichis1.17%oftheZKLToken’stotalquantity,for$1.58Mon22Oct.Asapartofzero-knowledgetechnology,thisprojectmightattractthoseinterestedinusingprivacy-scalingsolutionssuchasZKLinktokens. SignificantUnlocksinLateOctober ThelastweekofOctoberrepresentsthemostsignificanttokenunlocksofthemonth.Blocklords(LRDS),settolaunchonOctober24,willunlock2.02MLRDStokens,2.02%oftheproject’stotalssupply,withavalueof$1.27M.Thenextday,Roadworks(RAD)willunlock1.56MofRADtokens,equalto1.56%oftheentiresupply,withavalueof1.86M. YieldGuild(YGG)isanotherlargeprojectwithanunlockscheduledonOctober27,with11.49Mtokensforapproximately$6.16M.YieldGuild,whichhasbeenpartoftheplay-to-earngames,couldexperiencemarketmovementsasthesetokensentercirculation. Anothertoptokentounlockisronin,involvingthereleaseof34.67MRONtokens,whichis3.47%ofthetoken’stotalsupply;theirvalueisabout$59.78M.RoninhasrecentlyplayedacrucialroleinenablinggamingtransactionsontheEthereumblockchainandfacespotentialpricepressureduetothescaleofthisrelease.Themarketshouldbeawareofshort-termfluctuationsinthepricesoftokenswhenthesenewtokenunlockshappen.Recognizingtheprocessbehindeachtokenunlockiscrucialforpredictingfutureshifts. blockchainreporter.net

Ripple’sXRPpricesurgednearly4%followingtheannouncementoftheXRPLLedgerSnapintegrationwithMetaMask,awidelyusedcryptowallet.TheblockchainfirmPeersystTechnology,whichhasbeenworkingcloselywithRippletoenhancetheXRPLedger(XRPL),madetheannouncementonX. XRPLedgerIntegrationonMetaMask “Weareexcitedtoannouncethelaunchofthe#XRPLedgerSnapforMetaMask,”PeersystTechnologystated.TheintegrationallowsMetaMask’s30millionmonthlyactiveuserstoeasilyaccessandmanageXRPLedgerassets. “Today,30millionmonthlyactiveusersofMetamaskarenowjustoneclickawayfromhavinganaccountontheXRPLedger,creatingauniqueopportunityfortheadoptionandmanagementofXRPLassets,”thefirmnoted. thepowerofthe#XRPLmeetstheversatilityof@MetaMask🦊🤝https://t.co/TsrkhyqtFA —RippleX(@RippleXDev)October21,2024 ThenewlylaunchedXRPLSnapincludesfullfeaturesavailableonboththeXRPLMainnetandTestnet.AccordingtoPeersyst,“The#snapcontainsallthefeaturescurrentlyavailableontheXRPLMainnetandTestnetnetworkandcanbeintegratedbyanydApptoconnectandsigntransactions.” ThisintegrationopensupnewpossibilitiesfordecentralizedapplicationdevelopersandXRPLusersalike,streamliningtransactionprocesseswithintheXRPecosystem.Aspartofthelaunch,Peersysthasintroducedanearlyadoptercampaign,offeringupto10,000XRPinprizes.Thecampaignisdesignedtoincentivizeuserstoexplorethenewfeature. XRPPriceGains Theannouncementhasbeenpositivelyreceivedbythemarket,contributingtoanotableincreaseinXRPpriceasinvestorsentimentimproved.ThisdevelopmentisexpectedtodrivefurtheradoptionofXRPLedgerassetsandbroadentheuserbase. Ripple’snativetokensoaredsignificantlyasitattainedahighof$0.5594,reboundingfromalowof$0.5416onMonday,October21.However,thegainssloweddownlaterbutXRPremainedinthe“green”territory.Asofwriting,theXRPpricewasupby0.88%to$0.5475. Also,it’sworthnotingthattherecentXRPpricesurgewasalsodrivenbymajorwhaleaccumulation.Inthepastfewhours,XRPwhalessnappedupawhopping72milliontokens,worthapproximately$40million,fromexchangeslikeBybitandUpbit. cryptonewsz.com

PoliticaldonationsmadebytheUScryptoindustryhavesurgedtorecordhighsaftersurpassing$190millionasthefinalstretchoftheelectioncycleapproaches,CNBCreportedonOct.20. Thisrepresentsasignificantincreasefrompreviouselectioncycles,markingnearlya13-foldjumpfromthe$15millionspentin2020. Theindustry’sgrowinginfluenceisevidentaslargesumspourintocriticalcongressionalandSenateraces,withthegoalofshapingfutureUSregulatorypolicies. BipartisanInfluence DatafromtheFederalElectionCommission(FEC)revealsthatcryptocompaniescontributednearlyhalfofallcorporatedonationsthiscycle.Over$130millionwasfunneledintocongressionalraces,includingprimaries,highlightingthesector’sinterestinsecuringpro-cryptorepresentation. Thepro-cryptosuperpoliticalactioncommittee(PAC)Fairshakehasbeenoneoftheleadingspenders,distributingnearly$29millioninSeptemberalone. Fairshake,knownforitsadvocacyofcryptoandblockchainpolicy,allocated$20millionofitsSeptemberspendingtotwoaffiliatedPACs:$15milliontotheDefendAmericanJobsPAC,whichsupportsRepublicancandidates,and$5milliontoProtectProgress,whichfavorsDemocrats. Fairshakedirected$8.8millionofitsSeptemberspendingintocompetitiveHouseracesinNewYork,Nevada,andCalifornia.SouthernCaliforniaRepublicansDavidG.ValadaoandMichaelGarcia,lockedintightraces,received$1.3millionand$1million,respectively. DonationshaveslightlyfavoredDemocratsinrecentmonths,butfinancialsupporthasremainednotablybipartisan. InSeptember,Fairshakefunneled$6.2milliontoHouseDemocrats,comparedto$2.3millionforRepublicans.Notablepro-cryptoDemocratslikeRep.PatrickRyan(D-NY)andRep.StevenHorsford(D-Nev.)benefitedfromthisinflux,receiving$1.9millionand$1.7million,respectively. CaliforniaattheCenter Californiaremainsafocalpointforthecryptoindustryduetoitshighconcentrationofblockchainfirms.Thestate’spoliticallandscapeispivotalforfutureregulatorydevelopments,andindustrydonationsreflectthisfocus. CryptomarketanalystJamesDelmoretoldCNBC: “Fairshake’sdonationstocandidatesintoss-updistrictsarecritical.It’snotjustaboutsecuringpro-cryptopoliticiansinkeyHouseseats,butalsomaintainingCalifornia’spositionasahubforthecryptoindustry.” BeyondCalifornia,Fairshake’scontributionshavereachedcandidatesinotherkeystates,includingNewYork,Nevada,andIllinois. Meanwhile,ProtectProgressdirectedover$10milliontoDemocraticSenatecandidatesinArizonaandMichigan,aimingtoboostpro-cryptolawmakersinbattlegroundstates. Asthecryptoindustrycontinuestogrowinpoliticalclout,theinfusionofsubstantialdonationsintokeyraceshighlightsitslong-termstrategytoshapetheregulatorylandscape. cryptoslate.com

AndrewTate’sresponsetoCoffeezillashowshe’sthin-skinnedanddoesn’tcareaboutthepeoplewhohaveinvestedinhistokens. On-chainsleuthCoffeezillahasbecomeathorninthesideofhigh-profileinfluencersshillingcoinstotheirmillionsoffans. Oneofhisbest-knownscalpsisLoganPaul,whowasrippedtoshredsoverhisembattledandnow-abandonedprojectCryptoZoo. Coffeezilla’salsogonetoe-to-toewiththelikesofSamBankman-Friedasheviestouncoverscamstohis3.77millionsubscribersonYouTube. Butnow,theinvestigatorisfacinganalmightybacklashaboutadeepdivethathasn’tevenbeenreleasedyet—anditrelatestoanumberofcoinsthathavebeenendorsedbyAndrewTate. OnWednesday,CoffeezillasharedaDMthathehadsenttoTate,askingwhetherhehadbeenpaidtopromotecryptocurrencies,includingROOSTandDADDY. Coffeezilla’sDMtoAndrewTate|Source:@coffeebreak_YT ThemessagealsopointedoutthatthisiscompletelyatoddswithvideosthatTatehadreleasedonXearlierthisyear,wherehewastoplessandappearedtohavesubstantiallymorehair. IDONOTENDORSESHITCOINS. I’mnotascammerlikeeveryother“influencer” Idon’tneedtorobmyfans. IDONOTHAVEANYTHINGTODOWITHANYCRYPTO.pic.twitter.com/tlLQ8Iunz3 —AndrewTate(@Cobratate)May17,2023 Coffeezillaisfollowingacrucialjournalisticprincipleknownasthe“rightofreply.”Ifyou’regoingtomakeallegationsagainstsomeone,theymusthavetheabilitytorespondbeforepublication. Butinsteadofansweringthelegitimatequestionsputforward—whichwouldbeofinteresttohismanyacolytes—Tatechosetogodownthehomophobicroute. IaskedAndrewTateabouthiscryptoscamsandIthinkhesentthe\"WarRoom\"afterme.😂🫣https://t.co/3yHRqEgdqspic.twitter.com/pJMIqRC149 —Coffeezilla(@coffeebreak_YT)October16,2024 Bythelooksofthings,thishasnowunleashedahugecanofworms.Coffeezillasharedascreenshotthatshowshowhisinboxhasbeenbombardedwithslurs. Why?BecauseTaterepostedananonymousaccountthatexposedCoffeezilla’semailaddress,withthemisogynisttellinghisfollowers:“Emailhimandcallhimgay.” IaskedAndrewTateabouthiscryptoscamsandIthinkhesentthe\"WarRoom\"afterme.😂🫣https://t.co/3yHRqEgdqspic.twitter.com/pJMIqRC149 —Coffeezilla(@coffeebreak_YT)October16,2024 Undeterred,theinvestigatorhasinsistedthathestillwantsareplytohisquestions—andit’slikelythat,iftheclockrunsout,Coffeezilla’svideowillgoliveanywaywithoutacomment. TheYouTuberalsopostedacomicalmash-upthatshowedTatechompingonacigarbecauseitlookscool,declaringthatherespectedCoffeezilla,cuttingtoanotherclipwherehesays: “Coffeezillaisab****.Idon’tgiveaf***aboutyourvideo,Idon’trespectyourjournalism.” Givenhowwide-eyedTateisashejabshisfingertowardthecamera,youcouldsuggestthatallofthisscrutinyisbotheringtheshamentrepreneurmorethanheletson. AndrewTatedrinksmorecoffeethanyoudo WhatisCoffeezillainvestigating? Coffeezilla,whomarriedhishighschoolgirlfriendin2017,hassofarremainedtight-lippedaboutthenatureoftheallegationsagainstAndrewTateandhisbrotherTristan. Butitseemsacorepartofthefocusinhisupcominginvestigationwillsurroundthe$DADDYtoken,whichhasfallenprecipitouslyinvaluesincelaunchandhasneverrecovered. Anall-timehighof$0.2925wassetinmid-JunewhenCoinMarketCapstartedtrackingthealtcoin—andatthetimeofwriting,it’sdownbymorethan48%.…

Thecryptomoneyiscominginhardandfastaheadofnextmonth’selection. ThelatestcomesfromRipple’sco-founderandexecutivechairman,ChrisLarsen,whosaidMondaythathehasdonatedanother$10millioninXRP,theseventhbiggestdigitalassetbymarketcap,tosupportVicePresidentKamalaHarris\'campaignforU.S.president. RippleconfirmedtoDecryptthatLarsenhadmadethepersonaldonation,followinghistweetonthematter.TheNewYorkTimesreportedSundaythatLarsenhaddonated$10milliontoFutureForward,aprominentDemocraticPAC,amidarecord-settingfundraisingquarterfortheHarriscampaignandassociatedorganizations.Larsentweetedaconfirmationofthereport,notingthatthedonationwasmadeinXRP. “It’stimefortheDemocratstohaveanewapproachtotechinnovation,includingcrypto,”hewrote,addingthathewassureHarriswould“ensurethatAmericantechnologydominatestheworld.” It\'stimefortheDemocratstohaveanewapproachtotechinnovation,includingcrypto.Ibelieve@KamalaHarriswillensurethatAmericantechnologydominatestheworld,whichiswhyI’mdonating$10MinXRPinsupportofher.https://t.co/vb9KJA87JK —ChrisLarsen(@chrislarsensf)October21,2024 Earlierthismonth,anFECfilingshowedthatChrisLarsenhaddonated1,754,815.29XRP,worth$1million,tothesamePACbackinAugust.ARippleLabsrepresentativeconfirmedtoDecryptthatthelatest$10millionpersonaldonationtothePACdidnotincludetheearlierbatchofXRP. LarsenhelpedsetupRipple,afintechcompanythatwantstomakeiteasierforbusinessestomovemoneyacrossborders.Healsoco-foundedXRP,theseventhbiggestdigitalcoinbymarketcap.ThecompanyandXRPoperateindependently,thoughRippleutilizesXRPforitsservices. Ripple’sdealingswiththegovernmenthavetypicallybeencombative,andthecompanymadeheadlineslastyearafterpartiallywinningalong-runninglawsuitbroughtagainstitbytheU.S.SecuritiesandExchangeCommission(SEC). TheSEChadhitRipplewitha$1.3billionlawsuitin2020—allegingthatthecompanysoldunregisteredsecuritiesintheformofthecryptocurrencyXRPtoinvestorstoraisefunds. Butlastyear,ajudgeruledthatprogrammaticsalesofXRPoncryptocurrencyexchangestoretailinvestorsdidnotqualifyassecurities. Thejudgealsoruledthat$728millionworthoftokensforinstitutionalsalesdidconstituteunregisteredsecuritiessales,buttheoveralldecisionhasbeeninterpretedasawinbyRipple—andthecryptoindustryasawhole.RippleandtheSECarestillengagedintheappealsprocess. RippleLabsCEOBradGarlinghouseweighedinonLarsen\'slatestdonationinatweetreply,referencingthecompany\'songoingfightagainsttheregulator. \"IrespectChris’(andeveryone’s!)righttosupportwhomevertheythinkisbesttoleadtheU.S.Weneedtoimmediatelychangecoursefromthisadministration’smisguidedwaroncrypto,\"Garlinghousetweeted.\"RipplewillcontinuetoengagewithbothDemocratsandRepublicansinthefinaldaysofthecampaigns(andaftertheelection)topromotepro-cryptopolicies.It’snotaboutpartylines;it’saboutchampioningpoliciesthatdriveblockchainandcryptoinnovation.\" IrespectChris’(andeveryone’s!)righttosupportwhomevertheythinkisbesttoleadtheU.S. Weneedtoimmediatelychangecoursefromthisadministration’smisguidedwaroncrypto. RipplewillcontinuetoengagewithbothDemocratsandRepublicansinthefinaldaysof… —BradGarlinghouse(@bgarlinghouse)October21,2024 Aheadofnextmonth’selection,RepublicancandidateDonaldTrumphascomeoutasthemorecrypto-friendlycandidate—andhasreceivedmoremoneyfromtheindustryasaresult. TheHarriscampaignhasonlyrecentlystartedtalkingabouthowitwouldhelptheecosystemintheU.S. EditedbyAndrewHayward decrypt.co

Coinbase’slongstandingcampaigntoforcetheU.S.governmenttoclarifyhowitapproachescryptoratcheteduponMonday,withtheAmericancryptoexchangefilingmultiplelegalrequestsforinternaldocumentsattheFederalDepositInsuranceCommission(FDIC). Thefirstrequestpertainstodocumentsdetailinganycaporlimitontheamountofdigitalassetsallowedtobeheld,whichtheFDIChasallegedlyimposedonAmericandepositoryinstitutions.ItwassubmittedviatheFreedomofInformationAct(FOIA),whichrequiresU.S.executiveagenciesliketheFDICtodiscloseinternalinformationifrequestedbythepublic. Coinbase’ssecondrequesttotheFDICaskedforinformationregardingthetypesofFOIArequestssubmittedtothebankregulatorsincethebeginningof2022.Presumably,thisistoattempttoholdtheFDICtoaccountiftheagencyhasrejectednumerouscrypto-relatedinformationrequests.RecipientsofFOIArequestscanlegallydenythemforselectreasonsincludingthesensitivenatureofagivensubject,orinthenameofrespectingpersonalprivacy. PaulGrewal,Coinbase’schieflegalofficer,announcedtherequestsonMonday,framingthemasthelatestmoveinthecompany’songoingbattletounmasktheU.S.government’slargelyundisclosedcryptopolicies. “WefiledtwonewsetsofFOIArequestsinourcontinuedefforttogetanysortofclarityonhowregulatoryagenciesareapproachingdigitalassets,”GrewalpostedtoTwitter(akaX).“Inshort,solongasthegovernmentwillnotrelent,neitherwillCoinbase.” Thefirstisfordocumentsaboutadigitalassetdepositcap@FDICgovandotherbankingregulatorshaveapparentlybeenimposingonfinancialinstitutions.ThesecondisforlogsthatshowhowtheseagenciesarehandlingotherFOIArequests.EachisseparatefromourFOIAfilings… —paulgrewal.eth(@iampaulgrewal)October21,2024 Lastweek,CoinbasefiledamotioninaWashington,D.C.federalcourtaccusingtheU.S.SecuritiesandExchangeCommission(SEC)ofimproperlywithholdingcrypto-relateddocumentsrequestedviaFOIA.Onmultipleoccasions,theSEChasdeniedFOIArequestsfiledbyCoinbase,claimingthatrevelationofthedocumentsinquestionwouldinterferewiththeagency’slawenforcementactivities. Meanwhile,America’stopcryptoexchangeiscurrentlyengagedinaproactivelawsuitagainsttheSECoverthelatter’scontinuedrefusaltoissuecrypto-specificrulemaking.Coinbaseisattemptingtoforcetheagency,viacourtorder,toclarifyitsapproachtodigitalassets.ThecaseiscurrentlybeforeafederalappealscourtinPhiladelphia. CryptoleadersincludingCustodiaBankCEOCaitlinLongcelebratedtheannouncementofnewcrypto-relatedFOIArequests,tyingthemtowhatmanyintheindustryconsidertobetheintentionallyopaquedigitalassetspoliciesofthecurrentWhiteHouse,asexemplifiedbythecrypto-skepticpositionsofPresidentJoeBidenandhiscloseallyintheSenate,ElizabethWarren(D-MA). “ThelawlessnessofBiden/Warren’sfederalbankingagenciestowardtheU.S.banksthatservedlaw-abidingcryptocompanieswillcontinuetobeexposed,”LongpostedtoTwitteronMonday.“Justiceforthisiscomingfolks.” EditedbyAndrewHayward decrypt.co

AsavvycryptocurrencytraderrecentlycapitalizedonthefluctuatingpricesofSolana($SOL),sellingasignificantamountoftheassetatamarketpeak.Justthreehoursago,thisexperiencedinvestor,oftencalleda“whale”duetothesubstantialholdingsandinfluenceoverthemarket,sold22,726$SOLforastaggering$3.86million. Asmartwhalesold22,726$SOL($3.86M)atapricepeak3hoursago. Thissmartmoneyalwaysbuys$SOLatlowpricesandsellsathighs. Hecurrentlyholds20,000$SOL($3.33M),withatotalprofitofover$2.5M!https://t.co/e3Pgb1aMQqpic.twitter.com/n3AbKFpf24 —Lookonchain(@lookonchain)October21,2024 Thistraderhasconsistentlydemonstratedaknackfortimingthemarket,purchasing$SOLatlowprices,andsellingthemasthemarketpeaks.Therecenttransactionisatestamenttoabroaderstrategythathasenabledthewhaletoamassover$2.5millionintotalprofits.Suchstrategictradingnotonlyunderscorestheindividual’smarketacumenbutalsohighlightsthevolatilenatureofthecryptocurrencymarkets,wheretimingandpatiencecanleadtosubstantialgains. SolanaMarketDynamics AccordingtoLookonchain,despitetherecentlarge-scalesell-off,thewhalestillmaintainsarobustpositioninSolana,holding20,000$SOL,currentlyvaluedatapproximately$3.33million.Thisholdingrepresentsasignificantstakeinthecryptocurrency,consideringSolana’stotalmarketcapandcirculatingsupply. Solana,knownforitshigh-speedandlow-costtransactions,hasbeenapopularchoiceamonginvestorslookingforalternativestomoreestablishedcryptocurrencieslikeBitcoinandEthereum.ThepriceofSolanahasseenasignificantincrease,demonstratedbyitsrecentpeak,whichsavvyinvestorshaveexploited. Transactionsofthismagnitudecanhaveapronouncedimpactonthemarket,oftenleadingtopricevolatilitythatcanaffectsmallerinvestors.Theactionsofsuchwhalesarecloselywatchedbymarketanalystsandcanserveasindicatorsofpotentialmarketmovements,makingtoolsfortrackingsuchactivitiescrucialforbothseasonedtradersandnewcomerstothecryptocurrencymarkets.Ascryptocurrencycontinuestoattractattentionfrominvestorsacrossthespectrum,understandingthemovementsofmajorplayerslikethisSolanawhalewillbecrucial.Themarketcontinuestoevolve,withindividualinvestorsplayingasignificantroleinshapingthedynamicsofcryptocurrencyvaluations. Thiseventunderscoresthecomplexinterplayofstrategy,timing,andmarketdynamicsthatdefinethecryptocurrencytradinglandscape,providingaclearexampleofhowsignificantprofitscanberealizedthroughsmartinvestmentsandtiming. blockchainreporter.net