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How Will The $6 Billion Of Bitcoin Options Expiring Tomorrow Affect Price?

A new record of bitcoin options expiring this week will doubtlessly have an effect on the BTC price in the near and short term. After another week of bitcoin price volatility, including a new all-time high, a new record of options expiring on March 26 could play a key role in price action and the continuation of this volatility moving into the coming days. Options are a contract for the right to purchase or sell an asset at a specific price. According to data analytics company Bybt, there are over 100,000 BTC — the equivalent of $5,574,000,000 (given the bitcoin…

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Bitcoin price unfazed after $150M hack of major exchange KuCoin

KuCoin reported a major security breach on Sep. 26, affecting Bitcoin, Ether, and ERC20 hot wallets while BTC and ETH prices remain unfazed. In an official statement, KuCoin Global CEO Johnny Lyu confirmed a major hacking attack on Sep. 26. The breach affected the firm’s Bitcoin (BTC), Ether (ETH), and ERC20 hot wallets, after private keys were leaked. Reports estimate the breach to have affected $150 million in user funds. Following the security breach, the price of Bitcoin barely moved, however. Other major cryptocurrencies, including Ether and decentralized finance (DeFi) tokens also remain relatively unfazed by the hack. A cryptocurrency…

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Law Decoded: Transformations in crypto exchanges and traditional institutions, Sept. 18-25

Maybe one day, drawing distinctions between crypto and traditional finance will seem quaint. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note The final scene of Animal Farm, Orwell’s classic fable of revolution gone wrong and a staple of secondary-school reading lists throughout the English-speaking world, features a card game. The pigs who run the farm with an iron hoof host the humans who have gone from enemies of the revolution to drinking buddies of the revolution’s leaders. The book ends with accusations of cheating and a metamorphosis…

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FTX crypto exchange acquires Blockfolio for $150 million, set to create ‘New trading experience’

FTX exchange demonstrates retail expansion aspirations as it acquires the number one crypto app. Blockfolio is off the table, and with it goes the second — and arguably final — opportunity for a crypto exchange to add millions of existing retail users to its ecosystem.Following Binance’s acquisition of CoinMarketCap (CMC) earlier this year, crypto industry prognosticators identified the retail market’s most popular portfolio management app as the likely target of the sector’s next mammoth retail deal.And FTX, which only launched in 2019, has proved willing to pay the $150 million price tag for Blockfolio’s 6 million-strong user base as the…

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Maduro Bans BTC Exchanges From Giving Money To Health Workers

Maduro bans BTC exchanges from giving $18 million to health workers during the ongoing coronavirus pandemic as we are reading more today in our latest bitcoin news. Venezuela’s opposition government aims to distribute $18 million of funds seized from the country’s Maduro regime and one crypto company AirTM will now handle the payouts. Though the subversive intentions are quite impressive, this plan could not be workable on a larger scale. AirTM a Venezuela-based crypto exchange was selected to redistribute $18 million worth of funds seized from the controversial Maduro government. After trying to block the distribution, activities provided the users…

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Bitcoin volumes on exchanges will rise only after ‘bull-flip’

Three weeks ago, a sharp turn was observed on the Bitcoin exchange balances charts. BTC held by exchanges were identified to entertain a hike on the charts after months of decline in 2020. However, recent data would suggest that this might have been a false alarm, with volumes falling down to a new yearly low. Source: Glassnode According to the attached chart, Bitcoin levels on exchanges were down to 2.63 million, at the time of writing, after rising to 2.69 million in late-July. Considering the fact that Bitcoin was trading at a high price when the rest of the year…

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Researchers Claim Crypto Exchange Hacks Happen in Three Ways

Hacks into crypto exchanges target open-source libraries and take advantage of inside jobs researchers said. Researchers at the Black Hat security conference revealed that crypto exchanges might be vulnerable to hackers. Although crypto exchanges have high privacy and security to protect their funds, researchers still found three ways hackers can attack these crypto exchanges, according to Wired on August  9.  The crypto exchange attacks were operating more like “an old-timey bank vault with six keys that all have to turn at the same time,” the report said. Cryptocurrency private keys were broken into smaller pieces. It means an attacker has to…

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