Bitcoin Price: US$ 61,158.13 (+3.60%)
Ethereum Price: US$ 2,630.71 (+2.25%)
Kamala Harris’ campaign has expressed support for policies that encourage the growth of the digital asset industry, particularly emphasising the need for regulatory clarity in the wake of collapses like FTX. This contrasts with Donald Trump’s more visible backing of Bitcoin and opposition to a central bank digital currency, with both candidates addressing cryptocurrency issues in the 2024 election. Meanwhile, the rise of cryptojacking is underscored by new malware, PG_MEM, which targets PostgreSQL databases with weak passwords, reflecting a broader 400% increase in such incidents year-on-year. In another development, Skyfire has launched a blockchain payment platform enabling AI agents to autonomously spend money through USD Coin (USDC), a move supported by industry leaders like Coinbase CEO Brian Armstrong, which could allow AI agents to generate income and execute transactions independently.
Three executives from Evolve Bank & Trust have resigned amid setbacks, including a ransomware attack and a Federal Reserve Board enforcement action for inadequate risk management, yet the bank continues to serve crypto-friendly fintech companies like Mercury and Stripe. Meanwhile, Prometheum has sparked controversy by labelling Uniswap (UNI) and Arbitrum (ARB) as “digital asset securities” on its custodial platform, as it plans to expand its SEC-qualified offerings to include a broader range of digital assets. In a move to position Wyoming as a leader in blockchain innovation, Governor Mark Gordon announced plans to launch a state-issued dollar-pegged stablecoin by 2025, backed by US Treasury bills, though the initiative may face challenges in aligning state and federal interests.
BlackRock’s iShares Ethereum Trust is nearing $1 billion in net inflows, driven by strong interest from registered investment advisors who find Ethereum more straightforward to explain and value than Bitcoin. Concurrently, the Aptos Foundation has partnered with Myco to integrate its Web3 streaming platform with the Aptos blockchain, aligning with the upcoming launch of Myco’s native utility token and Tether’s introduction of USDT on the Aptos network for cost-effective transactions. Additionally, Tether plans to launch a new stablecoin pegged to the United Arab Emirates dirham (AED) in collaboration with UAE-based Phoenix Group and Green Acorn Investments, underscoring its commitment to providing stablecoin options in rapidly growing economic hubs like the UAE.
A crypto whale lost $55 million in a phishing attack after unknowingly signing a transaction that transferred ownership of their assets, underscoring the persistent risks in decentralised finance. In Australia, similar phishing scams have targeted over 2,000 digital asset wallets, leading to investigations and enforcement actions as authorities combat the surge in crypto-related fraud. Amid these challenges, U.S. spot Bitcoin ETFs have maintained positive inflows in eight of the last ten trading days, with BlackRock’s iShares Bitcoin Trust leading, while Grayscale’s Bitcoin Trust continues to see outflows. Additionally, Mt. Gox’s recent move of $700 million in Bitcoin to a new wallet has sparked speculation about potential fund distributions to creditors as the exchange’s liquidation process advances.
The notorious MEV bot “jaredfromsubway.eth” has returned with more sophisticated “sandwich” attacks, exploiting vulnerabilities in DeFi protocols to profit from unsuspecting users. Meanwhile, Binance and its former CEO Changpeng “CZ” Zhao face a new class-action lawsuit, with plaintiffs alleging the exchange facilitated the laundering of stolen crypto, potentially setting a precedent for the role of blockchain analytics in asset recovery. On the Tron blockchain, the memecoin deployer SunPump has generated over $1.1 million in revenue in just 11 days, fuelling debate over the long-term value and impact of memecoins in the crypto industry. Despite skepticism, Tron founder Justin Sun remains bullish on the future of memecoins, emphasising their role in community building within the crypto space.
Source: https://cointelegraph.com
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