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BNB Smart Chain Resumes Operations After 'Potential Exploit' Drained Estimated $100M in Crypto
The BNB Smart Chain (BSC) resumed operations as chain validators adopted a software update that would close the exploit used by hackers to drain funds off-chain. Initial token movements suggested that up to two million BSC tokens, worth roughly $570 million, were targeted by an attacker late Thursday, but Binance CEO CZ Zhao estimated in a tweet that the attacker was only able to get away with $100 million of that. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De breaks down the details.
Defi Platform Exponential Raises $14M in Seed Funding Round Led by Paradigm
Exponential, a DeFi investment discovery and risk assessment platform, has raised $14 million in seed funding led by crypto-focused investment firm Paradigm. Exponential.fi Co-Founder & CEO Driss Benamour shares insights into the state of DeFi and the impact of BNB Chain's $100M cross-chain bridge exploit.
Valkyrie Funds, Ark Invest To Offer Crypto SMAs
Valkyrie Funds and Ark Invest are the latest fund managers to announce crypto SMA plans on the heels of Franklin Templeton, a sign of the maturing crypto product industry with Wall Street involvement. Frank Downing, director of research at Ark Invest, joins Valkyrie CIO Steven McClurg to discuss the latest developments. Plus, their end-of-year crypto outlook amid recession concerns.
Bitcoin Slips From $20K Following US Jobs Report
Nonfarm payrolls rose 263,000 last month while the unemployment rate fell to 3.5%, according to the Labor Department’s latest jobs report. Bannockburn Global Forex Managing Director Marc Chandler discusses the implications for the crypto markets and global finance. Plus, bitcoin (BTC)’s correlation with gold hits its highest level in over a year.
Bitcoin Correlation to Both Risk-on and Risk-off Assets Rose in September
Bitcoin (BTC) has been trading within a $600 range while the token’s correlation with both risk-on and risk-off assets rose in September, according to Kraken Intelligence. Plus, insights on the quiet BTC whale activities in the past month. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
S. Korean Judge Reportedly Dismisses Arrest Warrant for Terra Exec Yu; Bitcoin Miner Marathon Invested $31M in Bankrupt Data Center Compute North
A South Korean judge canceled the arrest warrant for Yu, Terra's head of general affairs at Terraform Labs, according to Yonhap News. Plus, Marathon Digital’s investment of $31.3 million in bankrupt data center Compute North.
Celsius’ Top Execs Cashed Out $17M in Crypto Before Bankruptcy
Crypto lender Celsius Network’s bankruptcy case is entering a new phase where shareholders will be pitted against the firm’s beleaguered customers. This comes as court records show Celsius’ top executives withdrew a little over $17 million in cryptocurrency between May and June 2022, right before the company suspended withdrawals and filed for bankruptcy.
Bitcoin Finds Resistance at $20K as Stock Market Falls
Bitcoin (BTC) remained steady at $20,000 despite the dip in the stock market ahead of Friday’s job report. Juthica Chou, Head of OTC Options Trading at Kraken, discusses her crypto outlook amid macro headwinds. Plus, more insights into the whale activities and institutional volume.
Some Pro-Russian Groups Using Crypto to Fund Paramilitary Operations: TRM Labs
TRM Labs has found that roughy $400,000 has been raised in crypto since February for Russian paramilitary operations in Ukraine. TRM Labs Head of Legal and Government Affairs Ari Redbord says one of those groups has been identified as Task Force Rusich. Plus, he discusses why it’s hard for Russia to evade sanctions using crypto.
Do Kwon Has 14 Days to Return his Passport, Officials Say
The South Korean Ministry of Foreign Affairs posted a public notice on its website Wednesday announcing it would invalidate Terra creator Do Kwon’s passport, advancing a move the government first said it was considering last month. “The Hash” discusses the latest in the aftermath of Terra’s implosion.