The post "Dormant Ethereum ICO Whale Reactivates, Transfers 32.1 ETH to Coinbase" first appeared on 36crypto.com News.

A previously dormant Ethereum whale who participated in the ICO has resurfaced, moving 32.1 ETH to US-based crypto exchange Coinbase. Before its return, the wallet address has been inactive for 8 years.

According to Lookonchain – a blockchain inspection platform, the wallet address appears to be linked to shemnon.eth (@shemnon). In addition, the wallet address received 200 ETH tokens during its initial coin offering days.

Source: X (Twitter)

Several dormant addresses reactivated

The reawakening of this and other notable whales has sparked interest among the crypto community especially given the time frame in which it returned. Over the past months, several dormant addresses have reportedly been reactivated, moving and staking lump sums of Ethereum tokens.

In July, a Genesis dormant address was reactivated and transferred a staggering 61,000 (61 thousand) ETH to the Kraken exchange. At the time, the value of the total tokens moved was valued at $116 million.

Interestingly, the wallet also participated in the Ethereum ICO which took place in 2014. To date, the Ethereum initial coin offering (ICO) remains one of the most significant coin offering events to have happened in the crypto industry.

In a separate event, another whale resurfaced in June and transferred almost 8,000 ETH. The wallet address reportedly received 50,000 (50 thousand) ETH in 2017 from an ICO participant.

These kinds of transactions draw the attention of the crypto community not just because of their significant size, but because of the massive return on investment these whales get after selling the coins at their current prices.

Investors are left to speculate about the possible reasons behind the sudden movements of assets by wallets that have been dormant for several years. Some people might guess that the original holders are deciding to take profits after an exponential growth in the price of the token over the years.

Others might attribute it to the growing popularity of Ethereum staking after the network moved from its proof-of-work to a proof-of-stake mechanism. Whatever the reason, it only underscores the benefit of holding crypto assets for the long term.

Ethereum (ETH) price today

According to live data from Coinstats, Ethereum is currently trading at $1,609. The price is down 0.91% in the last 24 hours. What’s more, ETH has a 24-hour trading volume of $7,445,540,996 ($7.4 billion) and a live market cap of $193,533,992,728 ($193 billion).

Ultimately, Ethereum is regarded as the second-largest cryptocurrency in the market with a circulating supply of 120,225,541 (120 million) ETH.

The post "Mt. Gox Extends Repayment Deadline to 2024" first appeared on 36Crypto News.

Mt. Gox, a collapsed cryptocurrency exchange, has issued a statement, extending its repayment deadline till 2024. The company was previously based in Tokyo and has been out of business for almost a decade.

In a recent development, the rehabilitation trustee for Mt. Gox, Nobuaki Kobayashi, announced a deadline change for its planned creditors’ repayment on September 21. According to the announcement, the new date has been set for October 31, 2024.

The reason for the extension

Mt. Gox had previously informed the public that it would complete the Base Repayment, the Early Lump-Sum Repayment, and the Intermediate Repayment by October 31, 2023. However, the firm has said that it will not meet this promise, consequently extending the period by one year.

Per the update, Mt. Gox cited several reasons for the postponement including; limited time for rehabilitation creditors to provide the necessary information, and for the rehabilitation trustee to verify this information, and engage with banks and designated crypto exchanges.

Due to these concerns, the Rehabilitation Trustee has said it will no longer be able to complete the aforementioned payments as scheduled, and as a result, it has changed the deadline for the Base Repayment, the Early Lump-Sum Repayment, and the Intermediate Repayment with the permission of the Tokyo District Court.

It is important to note, however, that creditors who have successfully provided the necessary information will begin to receive sequential repayments as early as the end of 2023. The rehabilitation Trustee also noted that the payment schedule is subject to change.

The fall of Mt. Gox crypto exchange

Before its collapse in 2014, Mt. Gox was one of the largest cryptocurrency exchanges in the world with nearly 1.1 million active accounts and users from over 239 countries globally. Also, the exchange accounted for about 90% of the global Bitcoin trading.

Sadly, in 2014, the platform fell victim to a hack that led to the loss of 850,000 Bitcoins (approximately $23 billion based on the current BTC price). Moving forward, the platform managed to recover about 20% of the stolen funds and has since been struggling with repayments for the last decade.

The fall of Mt. Gox through a hack underscores the need for security measures in the crypto industry. Over the years, there have been news of similar incidents across crypto exchanges. Recently, CoinEx fell victim, and over $54 million of customer funds were stolen.

The post "Shiba Inu Burn Rate Rises as Community Burns Almost 75 Million SHIB Tokens" first appeared on 36Crypto News.

The ever-dedicated Shiba Inu community has succeeded in removing more SHIB from circulation, as it burns almost 75 million tokens. According to data shared by the Shiba Inu burn tracker, Shibburn, over the last 24 hours, the SHIB Army has destroyed another lump of the memecoin.

The increase in the burn rate can be attributed to the rising usage of Shibarium - the Shiba Inu layer 2 blockchain solution, which has been recording impressive growth since its relaunch.

SHIB Army destroys almost 75 million Shiba Inu tokens

Per Shibburn data, exactly 72,819,987 SHIB tokens have been sent to burn addresses over the last 24 hours. The total burn was carried out across 16 different transactions raising the burn rate by 136%. The most significant transaction burned 54,633,331 (54.6 million) SHIB tokens approximately 21 hours ago from press time.

Impressively, over the last 7 days, the Shiba Inu community has collectively burned about 570,000,000 Shiba Inu across 130 transfers.

Shibarium is close to achieving a new milestone

Meanwhile, the layer 2 blockchain solution, Shibarium is seen to be approaching a new milestone as its total transaction approaches 3,000,000 (3 million), according to data from Shibariumscan.

Per the data, the exact total number of transactions on the network is 2,910,761 (2,9 million). Also, the total number of wallet addresses on Shibarium stands at 1,246,670 (1.2 million) with 712, 492 total blocks mined.

However, the total daily transaction has significantly dropped from its last peak of 200.88k on September 13 to 42.83k at press time.

In the meantime, Shiba Inu's marketing strategist, Lucie continues to encourage the public to migrate to Shibarium and actively use the network as a rise in Shibarium traffic will be good for SHIB burns.

She reiterated that a successful large amount of SHIB burns can only be done through transactions and not by tweets about burns. She concluded by saying for burns to be initiated, the community needs to actively use Shibarium.

Shiba Inu (SHIB) price today

According to live data from Coinstats, Shiba Inu is currently changing hands at $0.000007. This represents a 0.78% increase in the last 24 hours. What's more, Shiba Inu has a 24-hour trading volume of $80,824,903 ($80.8 million). Finally, SHIB is ranked #17 on the global crypto market chart with a live market cap of $4,362,928,925 ($4.3 billion).

The post "FTX Charged Sam Bankman-Fried’s Parents to Court: See Why" first appeared on 36Crypto News.

Bankrupt crypto exchange FTX has reportedly charged the embattled CEO Sam Bankman-Fried's parents to court over alleged misappropriation of funds. According to reports, debtors of the bankrupt derivative exchange have filed a lawsuit against both parents of SBF - Joseph Bankman and Barbara Fried.

The lawsuit which was filed on Monday, September 18, accused the parents of helping to misappropriate funds worth millions of dollars rightfully belonging to the exchange customers through their involvement in the company.

Specifically, FTX legal counsel is urging the court to compel the parents to return any donations in the form of property or cash from the FTX estate when it was still fully functional.

The complainant alleges that Sam Bankman-Fried's Parents used their position in the firm to enrich themselves at the expense of the exchange's customers and investors. In addition, the plaintiff argued that Sam's parents were fully involved in running the FTX business from the beginning up until its collapse in November 0f 2022 as opposed to what SBF has claimed.

Furthermore, the plaintiffs claimed that through their involvement with the FTX empire, Bankman and Fried collected unearned rewards including a cash gift of about $10 million and a luxury property in the Bahamas worth $ 16.4 million.

Bankman also used FTX's money to cover personal costs, including a $1,200-per-night hotel lodge and privately chartered jets. Similarly, SBF's mother Barbara Fried was accused of compelling her son to make donations to Mind the Gap (MTG) - her political action committee.

Even though the lawsuit didn't mention the exact amount of money donated to Barbara Fried's campaign, it was said to have been tens of millions of dollars.

Bankman and Fried should be held accountable

FTX legal counsel has asked the court to hold both parents accountable for their actions in order to recover the assets.

“Award plaintiffs punitive damages in an amount to be determined at trial resulting from defendants’ conscious, willful, wanton, and malicious conduct, which exhibits a reckless disregard for the interests of plaintiffs and their creditors,” a part of the lawsuit says.

Before its collapse, FTX was one of the largest cryptocurrencies in the world accounting for over 5 million active users. The FTX court case remains one of the highest-profile cases in the crypto industry to date.

A collective loss worth billions of dollars belonging to customers is still yet to be accounted for. However, the present management team behind FTX is doing all they can to retrieve the funds from various sources.

Ultimately, the lawsuit filed against Sam Bankman-Fried's parents has been applauded as a welcome development as the unspoken immunity enjoyed by Joseph and Barbara while SBF sits in prison has been called out.

SBF's trial is scheduled to begin on October 3 where he will be charged with seven counts relating to mishandling of users' funds at FTX and Alameda Research.

The post "Dormant Bitcoin Whale Reemerges, Moves 2100 BTC to New Address" appeared first on 36Crypto News.

A Bitcoin whale that has been dormant for about 6 years has reemerged, transferring about 2100 BTC to a new address. As reported by blockchain security firm - PeckShieldAlert, the dormant address became active again in the early hours of September 19.

Per the announcement, the address received the aforementioned number of Bitcoin on October 19, 2017, before going dormant, and was worth about $11.8 million at the time of the transfer.

However, 6 years later, the same wallet springs up to transfer the BTC contained in the address which is now worth over 400% more than what it was at the genesis. With today's price of BTC, the wallet is now worth $56.3 million. The significant transfer comes right when Bitcoin and the global crypto market are gradually recovering from its previous weeks' loss.

Meanwhile, recently similar events have occurred including the reawakening of a genesis-era Bitcoin address that was dormant for about 13 years. The wallet which held a staggering 1,005 BTC was reactivated in August as reported by WhaleAlert.

However, it is not very common for Bitcoin dormant addresses to reawaken as compared to other projects like Shiba Inu and XRP. In the case of Shiba Inu, we often see inactive wallet addresses come back to life almost on a monthly basis.

There are different reasons why a dormant crypto address may come back to action after years of inactivity. One of the obvious reasons would be to take advantage of the current state of the crypto market, cashing in on their already accrued gains.

It most likely seems to be the case here because, after six years of dormancy, the ROI for the accumulated BTC has now skyrocketed over 400%. Also, another reason why an inactive whale will reemerge is if they are preparing for a major sale or investment.

Bitcoin (BTC) price today

According to live data from Coinstats, Bitcoin is currently changing hands at $27,313. This represents a 1.61% rise in the last 24 hours. Furthermore, Bitcoin has a 24-hour trading volume of  $30,903,867,238.433 ($30.9 billion). Ultimately, Bitcoin maintains its spot as the largest cryptocurrency in the world with a live market cap of $532,339,223,817.879 ($532.3 billion). The global crypto market is currently seeing a 1.32% increase over the last 24 hours, no thanks to the reawakening of dormant addresses.

The article "XRP Trading Volume Surge by Over 100%" first appeared on 36Crypto News.

XRP is currently making major moves in the market as its trading volume has surged by more than 100% in the last day. The fifth-largest cryptocurrency by market cap is currently experiencing bullish sentiments.

For context, trading volume refers to the amount of trading activity on a given digital asset. It is the record of the purchase and sale of each crypto asset within a given time. This detail might entail the confidence of investors in the token.

According to live data from Coinglass, XRP has a trading volume of $925.30 million in the last 24 hours. This signifies a 104% increase in the volume over the last day.

Per the data, the XRP/USDT pair on Binance accounts for the largest chunk of the total volume traded. The trade volume on Binance over the mentioned period is $436.98 million which signifies a 91.58% surge in the trade volume.

Bybit exchange comes in second with a total of $128.1 million in trade volume, translating to over 135% increase in volume traded on the platform.

Source: Coinglass

As XRP traders await the next bullish run, the increase in the tokens trade volume underscores investors' current sentiment. More insight is provided in the coins futures long/short ratio.

Cryptocurrency futures' long/short ratio can be seen as a calculation that shows the number of long positions against the short positions of a specific asset. It is a sentiment analysis indicator that expresses the views and actions of traders.

Consequently, when there is a high ratio, it indicates a bullish market sentiment. On the other hand, a low ratio signifies a bearish market sentiment. Following this definition, the first and second exchanges with the largest chunk, Binance, and Bybit have a positive long/short ratio on the XRP/USDT pair, standing at 1.0024 and 1.0190 respectively.

XRP price today

According to live data from Coinstats, XRP is currently trading at $0.50. The price is up 1.25% in the last 24 hours. What's more, XRP is ranked #5 on the global crypto market with a live market cap of $26,889,325,512 ($26 billion).

With the growth in its trading volume, XRP price is expected to make a significant move in the coming days, either positively or negatively. Finally, XRP has a circulating supply of 53,175,400,720 (53 billion) tokens.

The post "Shiba Inu Marketing Strategist Encourages Holders to Use Shibarium" first appeared on 36Crypto News.

In a recent update, Shiba Inu marketing strategist known by Lucie has encouraged SHIB holders to use Shibarium in order to initiate burns. In the post, Lucie diverted questions to the community asking when they will migrate from exchanges to the new Shibarium platform.

Furthermore, Lucie shed light on the anticipated SHIB burn by the layer 2 blockchain solution, Shibarium. According to the post, the burns are initiated per transaction and "not based on tweets."

She stressed that the SHIB burn through Shibarium is only possible through community engagement. In addition, she reiterated the importance of understanding the SHIB tokenomics.

Lucie also asserted that it is unrealistic to expect SHIB burns to occur only through transactions and without community engagement. She encouraged millions of holders to support the move.

Lucie continued by emphasizing the importance of migrating to Shibarium from other cryptocurrency exchanges as the burns are tied to transaction activities.

"The real question is, "When will you all migrate from exchanges and start using Shibarium?" [...] The burns are set per transaction, not based on tweets about burns," she said.

Furthermore, she reminded users about the "almost negligible" fee associated with using Shibarium and the potential for an increase as the number of transactions on the network surges.

She urged the Shiba Inu community to not just hype burns, but also use Shibarium buttressing that SHIB burn is not a call to developers saying "Do something," but rather it is a community effort.

Ultimately, she reiterated that the community has to actively use Shibarium in order to initiate burns, stating that "the more you utilize it, the more you contribute to the burns."

Shiba Inu burn data today

According to live data from Shibburn - a dedicated Shiba Inu burn tracker, a total of 30,816,353 (30.8 million) SHIB tokens have been burned over the last 24 hours. Interestingly, the aforementioned number of burns was carried out across 14 transactions.

The Shiba Inu community has successfully sent over 410 trillion SHIB tokens to burn wallets in a bid to drastically reduce the number of SHIB tokens in circulation. Significantly, Shiba Inu burn rate is down 44.3% in the last 24 hours.

The post "CZ Shared the Interesting Story Behind the Binance Logo" first appeared on 36Crypto News.

Binance CEO, Changpeng ‘CZ’ Zhao recently shared the story behind the creation of the company’s impressive logo. In a recent post on X (formerly Twitter), he shared a breakdown image of the steps involved in piecing the logo together.

Attached to the post is a Medium link dated December 2018 where he explained everything in detail including how he got a tattoo of the logo on his arm alongside his early co-founders.

According to the post on Medium, the logo was created in the summer of 2017. Sixteen months later, he met up with his friends Luke and Gareth in Singapore and the discussions about getting it tattooed on their arm came about.

Interestingly, the logo was created in the same year when Binance launched with the help of an initial coin offering.

The story behind the Binance logo

According to CZ, he and his team tried different variations to create the logo. The team wanted to represent the bids and asks on the crypto exchange with two squares as well as “echoing” the “Binary” word in Binance. In case you are not familiar, Binance stands for “Binary Finance.”

Source: X (Twitter)

In the first step, the team had two squares on top of each other as seen in the image in his tweet. However, the image looked like a “digital 8” which didn’t feel right. Moving on, Tang – the Binance designer at the time, suggested other variations and ended up putting two diagonal squares on top of each other with a slight overlap as seen in Figure 2.

Noticing this, it made sense to CZ. He pointed out that he liked the design and explained that an overlap between the two diagonal squares would signify a trade. However, it still didn’t feel like a logo.

Another idea came up. The team decided to house the two diagonal squares in a bigger square, more like a game board where the other two first two squares sit as seen in Figure 3.

The inclusion of the bigger board would signify a “playground” where things happened which is exactly what a cryptocurrency exchange is. Even though this looked appealing to the team, it still looked weak.

To make the logo look better, the Binance designer decided to thicken the line and this eventually made sense to CZ. “Suddenly everything changed. I knew we had our logo,” CZ said.

“The thickened lines made things look good, but more importantly, it created three smaller blocks in the middle, which formed a chain. A blockchain. And the middle block also represents trades, like a DEX perhaps,” he added.

Getting a Binance logo tattoo

Source: Binance on Medium

Sixteen months after the logo was created and Binance had launched, CZ, Gareth, and Luke Wagman – founder of CoinMarketCap met in Singapore and decided to get the logo tattooed on their arm.

At the time, Luke already had a tattoo of Bitcoin and his own company CoinMarketCap tattooed on his arm. He led the charge to add the Binance logo to the list and even though CZ never had a tattoo before, he made up his mind to follow the trend and have it tatted on his right arm.

Finally, Changpeng Zhao expressed his honor, having his first tattoo done alongside his friends Luke and Gareth.

The post "Cardano Founder Dismisses Rumor of Ethereum and SEC Conspiration Against Ripple" first appeared on 36Crypto News.

Cardano founder – Charles Hoskinson has dismissed the circulating rumor of a conspiracy between Ethereum and the SEC against blockchain company Ripple. The notable blockchain entrepreneur dropped his two cents in a recent post on X (formerly Twitter).

Hoskinson weighed in on the debate following a recent discussion brought up by tech entrepreneur and early adviser on the Ethereum network, Steven Nerayoff.

In Hoskinson’s comment, he made reference to when Ethereum was still an $18 million Initial Coin Offering (ICO). According to him, during that era, the Securities and Exchange Commission decided to “ignore” Ethereum and cryptocurrencies in general. Consequently, Ethereum became lucky after it got “too old” to consider after the SEC turned a blind eye.

“I’ve always believed that when Ethereum was an 18 million dollar ICO and very few people were doing them the SEC decided to ignore it and crypto and they got lucky to be too old to consider after the eye of Sauron moved over,” he said.

He continued by adding that “personal relationships and backroom stuff” may have played a significant role in the Commission’s leniency towards the project. Furthermore, Hoskinson noted that similar situations happen all the time, citing BlackRock, Chase, Goldman Sachs, Big Pharma, the telcos, and the defense industry as examples.

Ultimately, the Cardano founder dismissed the conspiracy rumor about Ethereum bribing the SEC to go after Ripple and its token XRP by stating that “it makes no sense at all” adding that Ripple was not even operating in the same smart contract space at the time.

How did it come about?

Steven Nerayoff first initiated the controversy after he alleged that because of his knowledge about Ethereum’s ICO by virtue of being an early adviser on the network, a fabricated case was built against him.

According to him, people involved with the Securities and Exchange Commission, the FBI, the Department of Justice, and Ripple were working together in this plot.

Subsequently, Nerayoff’s defense attorney issued a statement saying that he plans to reveal what he knows. However, in the interest of justice and the public. he will do so with “proper procedure.”

The post "Shiba Inu Whales Carry Out Cumulative Transactions Worth Over $10 Million" first appeared on 36Crypto News.

Shiba Inu whales seem to have revived as they cumulatively carry out impressive transactions worth over $10 million. The general crypto market seems to be gradually recovering from its recent shred.

Over the last 24 hours, the global crypto market has grown by a mild 0.24% with coins like Chainlink (LINK), Oasis Network (ROSE), ApeCoin (APE), and Injective (INJ) as the market top gainers.

Shiba Inu on the other hand, has its place as one of the top losers today alongside tokens like Dogecoin (DOGE), Avalanche (AVAX), Toncoin (TON), and Decentraland (MANA).

However, Shiba Inu whales seem to ignore the bearish sentiment on the tokens' price. According to data from IntoTheBlock - a crypto analytic platform, the Shiba Inu whale activity is currently up by 48%.

In addition, compared to September 9 which recorded a total of 11 whale transactions, at press time, the total whale transactions on the Shiba Inu protocol has surged significantly to 31.

Source: IntoTheBlock

For context, transactions are classified as "large" if they are up to or exceed a total value of $100,000 ($100 thousand). The exact total value of the 31 whale transactions recorded by IntoTheBlock summed up to $10.96 million.

Consequently, this spike has contributed to the growth in the trading volume of the trending memecoin. According to live data from Coinstats, Shiba Inu has a 24-hour trading volume of $73,651,157 ($73.6 million).

However, the rise in whale activity and the impressive feat reached by Shibarium have failed to positively impact the price of SHIB. Per Coinstats data, Shiba Inu is currently trading at $0.0000072 which represents a 0.21.% decrease in the last 24 hours.

Shiba Inu investors may need to take advantage of the visible growth triggers, such as whale and retail buyers, as well as the rising metrics on the Shibarium protocol, in order to resuscitate its growth trends.

Shibarium impressive growth

Since the relaunch of Shibarium -  Shiba Inu layer 2 blockchain solution, the network has recorded impressive growth and it continues weekly. According to live data from Shibariumscan - a Shibarium inspection platform, the total wallet address on the Shibarium network now stands at 1,246,49 (1.2 million).

Similarly, the total transactions carried out on the network since its launch now approaches 3 million. Per Shibariumscan data, the total transaction on Shibarium is 2,859,084 (2.8 million). It is expected that these numbers will continue to grow and potentially influence the price of SHIB.

The post "Crypto Price Analysis: SOL, ETH, XRP in Focus" first appeared on 36Crypto News.

As of September 15, 2023, Bitcoin and most altcoins had retraced their gains, shortly after the SEC decided to delay making a decision on all recently submitted spot Bitcoin ETF applications.

Bitcoin’s volatility has also increased recently. The cryptocurrency started rising around August 29 after Grayscale’s victory against the U.S. Securities and Exchange Commission (SEC) but then began to decline after the SEC postponed its decision on all seven spot Bitcoin applications.

The primary recent market trigger is associated with Bitcoin ETF news. Bloomberg ETF analysts express optimism about the possibility of the ETF being approved by regulators in 2023.

In a post from August 30 on X (formerly Twitter), Bloomberg ETF Senior Analyst Eric Balchunas increased the likelihood of Spot Bitcoin ETF approval from 65% to 75%.

Source: X (Twitter)

Wake me up When September Ends

Many believe that September can traditionally be considered bearish, as, based on CoinGlass data, Bitcoin has demonstrated negative returns in September for 6 consecutive years. Will this trend continue in 2023?

Bitcoin also influences several major altcoins that have also shown a decline in value. Will the decline continue, or is it time for a rebound? Let’s take a look at some assets I’ve specifically chosen to find out.

Crypto price analysis: Solana ($SOL)

Solana has dropped in the last 24 hours, reaching a price of $19.1. #Solana ranks 9th on the crypto market chart with a market capitalization of $7,794,101,741 ($7.8 billion) according to data from Coinstats.

Price Solana (SOL) Source: WhiteBIT

According to Changelly analysts, it is expected that SOL’s price will decrease by 0.54% and drop to its lowest point in the second half of September 2023. Over the last 30 days, Solana had 10 out of 30 (33%) green days with a price volatility of 7.85%.

Based on Changelly cryptocurrency analysts, the maximum price for SOL in October 2023 could reach $22.02, while the minimum trading price would be $18.57.

This price decline is likely due to concerns about the planned FTX liquidation of Solana (SOL) tokens worth over $1 billion, which represents approximately 16% of the total cryptocurrency token supply. However, on September 14th, SOL already showed a growth of over 3%.

Solana, the token supporting the Solana blockchain with first-layer smart contract support, recently traded at around $19 per token, almost 10% higher than the previous week’s mid-$18 lows. Despite concerns about the mass liquidation of SOL tokens, it appears that calmness prevails, as Solana has grown by almost 3% in the last 24 hours.

Furthermore, positive sentiment is present on Twitter, as a trader with over 34,000 followers posted about SOL’s potential for a pump.

Source: X (Twitter)

Crypto price analysis: Ethereum ($ETH)

According to Coinstats, the price of Ethereum is $1,628.57, and #Ethereum currently holds the second position in the cryptocurrency ecosystem. Ethereum’s market cap is $195,609,681,809.72 ($195 billion) with a circulating supply of 120,222,579 ETH.

Price Ethereum (ETH) Source: WhiteBIT

In the last 24 hours, the cryptocurrency has risen by $29.94 in its current value. Ethereum has recently demonstrated significant potential, presenting a good investment opportunity.

Over the last month, ETH’s price has increased by 11.64%, adding a substantial average of $189.39 to its current value. This sudden growth suggests that the coin could become a reliable asset if it continues to rise.

It’s worth noting that the price fluctuates between $1,635 and $1,600. Changelly cryptocurrency experts predict that the minimum price of ETH in October 2023 could be $1,664.80, while the maximum could reach $1,871.01. The average expected price for Ethereum is around $1,767.91.

However, according to a trader on Twitter with over 69,000 followers, a significant ETH pump may be on the horizon, making it a potentially great opportunity to buy the asset at a favorable price.

Source: X (Twitter)

Crypto price analysis: Ripple ($XRP)

XRP’s price today is $0.4965 USD, with a 24-hour trading volume of $780,225,726 ($780 million). #XRP currently ranks 6th on the crypto chart with a market capitalization of $26,110,142,073 ($26 billion).

Price Ripple (XRP) Source: WhiteBIT

Recently, XRP, the native token of the XRP Ledger, has garnered attention amid the broader cryptocurrency market recovery. One analyst predicts that XRP’s price could rise to $6.29 in the future.

In a post on the microblogging platform X (formerly known as Twitter), cryptocurrency analyst CoinsKid, who has over 130,000 followers, detailed that if XRP can break above its current resistance, it may increase its chances of reaching its previous high in April 2021, paving the way for a price of $6.29 per token.

Source: X (Twitter)

New Listings in September 2023

WhiteBIT

SSV Network ($SSV)

Natural Resource of the Treasure Metaverse ($MAGIC).

Gate.io

Reflexer ($FLX)

HTX (formerly Huobi)

Connext ($NEXT)

Paypal USD ($PYUSD)

Conclusion

September has historically been viewed as a bearish month for Bitcoin, with a consistent pattern of negative returns over the past six years. However, the question remains whether this trend will persist in 2023. The impact of Bitcoin’s movements extends to major altcoins, which have also experienced price declines.

Analyzing specific crypto assets, Solana (SOL) has experienced recent price volatility according to analysis, primarily influenced by concerns about a planned FTX token liquidation. Despite this, Solana has shown signs of resilience, with notable price fluctuations and a positive sentiment among traders.

Ethereum (ETH) has demonstrated substantial growth in recent times, presenting potential investment opportunities. The coin’s price has seen a notable increase over the past month, and while price fluctuations persist, some experts foresee the possibility of an ETH pump in the near future.

XRP has attracted attention due to its potential for growth, with one analyst suggesting a price target of $6.29 if certain resistance levels are breached.

Disclaimer: Please note that the cryptocurrency market is highly volatile, and these crypto price analyses are based on available information as of the provided date. Prices and market conditions can change rapidly. Do your own research before taking any action.

The post "Shibarium Transactions Exceeds 2.7 Million as Shiba Inu Community Burn Millions of SHIB" first appeared on 36Crypto News.

Shibarium - a Shiba Inu layer 2 blockchain solution, has achieved a new feat as the total transactions on the network crossed 2.7 million. Meanwhile, the Shiba Inu community continues its effort to reduce the total amount of SHIB tokens in circulation.

A new report from Shibburn - a dedicated burn tracker, shows that within the last 24 hours, the SHIB army has sent over 44 million Shiba Inu tokens to burn wallets. In total, the dedicated community has succeeded in removing over 400 trillion SHIB tokens from circulation.

The new milestone reached by Shibarium may also have contributed to the recent burns.

Almost 50 million SHIB tokens burned in the last day

The aforementioned burn tracker revealed on X (formerly Twitter) that exactly 44,049,556 SHIB tokens have been burned within the last 24 hours. In addition, these burns were carried out across 8 different transactions.

Consequently, the burn rate also increased by 11.73%. However, compared to the burn rate of the previous day which recorded about 62.66%, this is almost six times lower. Noticeably, two wallets burning over 9 million SHIB tokens were recorded about 4 and 13 hours ago respectively.

Shibarium Transaction Exceeds 2.7 Million

In the meantime, Shibarium has continued to achieve impressive milestones since its relaunch in August. The total transaction on the exciting project now stands at 2,701,208 according to recent data from Shibariumscan.

Also, the total number of wallet addresses on the network continues to increase daily. Per the data, the total number of wallets on Shibarium is 1,246,111 with an average block time of 5.0 seconds.

Source: Shibariumscan

Even though the daily transactions on the network today are 183,840 (183 thousand), it is slightly lower than the daily transactions recorded earlier this week when it reached 200,000 on September 13.

It is expected that Shibarium will continue to grow in the coming months. The more projects that adopt Shibarium, the better for SHIB burns, as more projects on this blockchain mean more transactions will be done, which would also mean more fees and, thus, more SHIB tokens to finally be transferred to burn wallets.

Shiba Inu (SHIB) price today

According to live data from Coinstats, SHIB is currently trading at $0.0000074. This represents a 1.93% increase in the last 24 hours. What's more, Shiba Inu has a 24-hour trading volume of $80,106,194 ($80 million). SHIB is ranked #16 on the global crypto market chart with a live market cap of $4,357,163,905 ($4 billion).

The post "Smart Contracts in Cosmos Ecosystem; CosmWasm and Ethermint" first appeared on 36Crypto News.

Smart contracts have revolutionized various sectors by leveraging blockchain technology for secure and automated transactions. Within the Cosmos network, two notable tools facilitate smart contract functionality: CosmWasm and Ethermint. This article will delve into the workings of smart contracts within the Cosmos network, explore the features and applications of CosmWasm and Ethermint, and discuss the potential impact of these technologies.

Smart contracts play a crucial role within the Cosmos ecosystem, serving as a platform for communication and transactions between blockchains. These contracts are immutable programs that execute automatically based on predefined conditions. The Cosmos network provides two significant tools for smart contracts: CosmWasm and Ethermint.

What is CosmWasm

CosmWasm is a smart contract engine developed explicitly for the Cosmos network. It is built upon WebAssembly (Wasm) and enables the creation of high-performance and secure smart contracts. One of its notable features is language independence, allowing developers to write smart contracts in various programming languages such as Rust and C++. CosmWasm also provides a secure virtual machine environment and ensures scalability, making it suitable for creating efficient and scalable smart contracts.

What is Ethermint

Ethermint, on the other hand, is a Cosmos SDK module compatible with the Ethereum Virtual Machine (EVM). This compatibility enables smart contracts written for Ethereum to be executed within the Cosmos network. Ethermint offers seamless migration of existing Ethereum smart contracts to the Cosmos ecosystem. It inherits the high transaction speed provided by the Cosmos network and adheres to the modular nature of the Cosmos SDK, providing developers with flexibility.

The scope of application for these smart contract technologies is vast. In the decentralized finance (DeFi) space, both CosmWasm and Ethermint serve as excellent tools. Ethermint’s compatibility with Ethereum allows for easy porting of existing Ethereum DeFi projects to the Cosmos network.

CosmWasm’s high-performance and secure platform is ideal for applications involving non-fungible tokens (NFTs) and tokenization. Supply chain and logistics management can also benefit from the automation capabilities of smart contracts, with CosmWasm and Ethermint offering suitable tools for such projects.

Integration with Industry 4.0 Technology

Moving beyond smart contracts, Cosmos integration with Industry 4.0, the fourth industrial revolution characterized by the digitalization of production and operational processes, holds immense potential.

The modular structure, microservices, and Internet of Things (IoT) integration make Cosmos an ideal platform for industrial applications. The Tendermint consensus algorithm employed by Cosmos ensures high processing capacity and low latency, making it suitable for industrial use cases.

Blockchain technology, as utilized within Cosmos, provides robust data security solutions. Transactions recorded on the blockchain are decentralized and tamper-proof, making it ideal for ensuring data integrity in Industry 4.0 scenarios such as intellectual property rights protection and supply chain management.

The modular structure and microservices architecture of Cosmos offers scalability and reusability. By combining services that perform similar functions, microservices enhance the reusability of components, particularly in large-scale projects.

Moreover, the modular structure brings system flexibility, allowing isolated resolution of errors in specific microservices without affecting the entire system.

Integrating Cosmos with IoT technologies opens up various possibilities in Industry 4.0. For instance, smart contracts can be leveraged for quality control mechanisms during production processes.

If products fail to meet specific quality standards, smart contracts can halt production automatically. Furthermore, Cosmos provides secure digital identity verification, an essential requirement in an increasingly digitized industrial landscape.

By securely integrating data from different sources, Cosmos ensures transparency and traceability throughout the supply chain and production processes.

What’s more?

In the context of innovative city projects, Cosmos and IoT integration can facilitate the monitoring and managing of traffic, energy consumption, and environmental factors on an integrated platform. In the healthcare industry, IoT devices can be effectively managed within the secure and decentralized structure provided by Cosmos. Remote monitoring and diagnostics can benefit from the capabilities offered by IoT and Cosmos integration.

Looking to the future, Cosmos is poised to play a significant role in Industry 4.0 projects and expedite digital transformation in this domain. Its flexible and scalable solutions, coupled with integrating microservices and IoT technologies, position it as a vital component of the digital transformation journey. The adoption of Cosmos in Industry 4.0 and related application areas is expected to increase in the coming years, propelling the realization of Industry 4.0’s full potential.

Conclusion

Ultimately, Cosmos, through its tools like CosmWasm and Ethermint, provides a robust infrastructure for the execution of smart contracts within its network. Integrating microservices and IoT technologies further enhances its capabilities, making it suitable for Industry 4.0 applications. With its secure and scalable solutions, Cosmos has the potential to revolutionize various sectors and accelerate digital transformation in Industry 4.0 and beyond.

The post "XRP Ledger Releases New Version 1.12.0: Details" first appeared on 36Crypto News.

An updated version 1.12.0 of the decentralized public blockchain #XRP Ledger (XRPL) has been released. The new development was announced on September 13 by RippleX - an extension team in charge of developing the XRP Ledger.

Per the announcement, RippleX encourages users to upgrade to the new version to enable service continuation and the ability to participate in voting for subsequent amendments like XLS-30.

The latest version adds new features. In addition, version 1.12.0 of Rippled comes with bug fixes and introduces amendments such as AMM, Clawback, and fixReducedOffersV1.

Explaining amendment and new features

According to a blog post on its official website, AMM presents an automated market marker (AMM) to #XRPL decentralized exchange. This feature enables users to trade digital assets without a counterparty.

The amended Clawback feature adds an "Allow Clawback" setting which allows an issuer to recover or claw back previously issued tokens. It is important to note that issuers cannot enable this setting if they have already issued tokens.

fixReducedOffersV1 on the other hand reduces the occurrence of order books that have been blocked by reduced offers.

Additionally, Version 1.12.0 of Rippled - the reference server implementation of the XRP Ledger protocol, also comes with bug fixes. Some of the errors fixed include adding a "pre-commit hook" that runs the clang-format linter locally before committing changes.

Also, the ServerHandlerImp was renamed to ServerHandler. Hand-rolled code was replaced with std::from_chars to enable better maintainability. See all fixed bugs Here.

Similarly, the Docs and Build system saw several updates. For example, the update checkout versions were updated to resolve warnings during GitHub jobs. Also, an issue with the Debian package build was fixed. Conan recipe was updated for NuDB.

Upcoming Devnet reset

Meanwhile, XRPL previously announced a reset for its Devnet test network. This reset is scheduled to take place on September 19, 2023. A brief Devnet outage of less than one hour is expected during the time of the reset.

It is important to know that Ripple runs several altnets like Testnet, Devnet, and AMM-Devnet for various reasons. As opposed to the Mainnet, these chains are centralized and its validators are run by a single entity so that they can be reset.

The post "The Rise of Cryptocurrency Hardware Wallets: A Booming Business Opportunity" first appeared on 36Crypto News.

As the digital asset market continues to expand, businesses involved in the cryptocurrency industry are also presented with lucrative opportunities- cryptocurrency hardware wallets.

In the last few years, the world of cryptocurrencies has come across unprecedented growth and innovation. This, in turn, has led to a significant surge in demand for secure storage solutions. This article will cover the recent news, product launches, and acquisitions that are shaping this sector.

Rising demand for cryptocurrency hardware wallets has shaped the market in several ways

As per a number of surveys conducted lately, the demand for cryptocurrency hardware wallets has been on the rise. Increased awareness about the importance of securing digital assets and the growing adoption of cryptocurrencies by individuals and businesses alike have fueled the market growth.

As of early 2021, with over $2 trillion in cryptocurrency market value and 10,000+ cryptocurrencies, the need for secure storage solutions has become more and more important.

Regulatory developments

Regulatory changes and guidelines have also played an important role in shaping the market. Governments and financial authorities worldwide are acknowledging cryptocurrencies as legitimate assets and taking important steps to regulate them.

This has a direct impact on businesses operating in the scenario, as it is very important for them to stay updated on evolving regulations that can impact the marketing, distribution, and utilization of hardware wallets.

For example, the Financial Action Task Force has been reinforcing guidelines for virtual asset service providers, including wallet providers, to stand up to terrorist financing and money laundering.

Market capitalization

Driven by record-high prices for Bitcoin, Ethereum, and others, the value of cryptocurrencies is rising. This is attracting more investors who need safe storage options.

Besides Bitcoin and Ethereum, newer blockchains like Binance Smart Chain and Solana are also becoming popular, broadening the range of digital assets people want to keep safe.

Product launches that have made headlines recently

One of the industry’s pioneers, Trezor, has launched its Model T hardware wallet, featuring a touch screen and highly enhanced security features. This product has received considerable positive reviews for its user-friendly interface and robust security measures.

The company’s commitment to continuous improvement and security has reinforced its reputation as a trusted hardware wallet provider. Another prominent player, Ledger has introduced the Nano X, a hardware wallet with Bluetooth connectivity, making it more convenient for users to access their crypto assets on the go.

When this product expanded the customer base of Ledger, it also helped it maintain its position as a market leader. The Nano X also introduced support for a wider range of cryptocurrencies, further increasing its appeal to the cryptocurrency community.

The Coldcard Wallet, on the other hand, has gained attention for its air-gapped security, which makes sure that private keys are never exposed to the internet. This level of security is especially appealing to institutional investors and high-net-worth individuals who highlight the safety of their digital assets. This innovative approach by Coldcard has earned it a dedicated following in the cryptocurrency community.

Acquisitions in the market

In a move intended to strengthen security and compliance within the cryptocurrency industry, Mastercard, one of the largest payment giants, acquired CipherTrace, a blockchain analytics and security company.

This acquisition sheds light on the very importance of security in the cryptocurrency ecosystem and the potential for synergies between payment platforms and security providers. Mastercard’s choice to prioritize security highlights a prominent trend in the industry, where firms are actively working to make their customers’ assets safer.

ShapeShift, another cryptocurrency exchange platform, has acquired Portis, a non-custodial wallet provider. This acquisition reflects the growing interest in non-custodial solutions and the desire to offer users greater control over their digital assets. Non-custodial wallets are becoming popular because they focus on user empowerment and security. ShapeShift’s purchase of Portis makes it a leader in this growing market segment.

As per a new report by Allied Market Research, the global cryptocurrency hardware wallets market is projected to set forth a whopping CAGR from 2021 to 2031.

Business opportunities in the market

As the cryptocurrency market continues to evolve, businesses involved in the hardware wallet sector also find themselves brimming with huge potential.

Businesses are expected to stand out in the market by consistently enhancing their products. They should prioritize making their wallets user-friendly, secure, and capable of working with various cryptocurrencies. Bringing forth features like fingerprint recognition, multi-signature support, and better interfaces can make their hardware wallets unique in the competitive landscape.

At the same time, collaborating with cryptocurrency services, like exchanges and payment processors, can help hardware wallet companies generate more income. When hardware wallets work smoothly with popular platforms, more people will use them to handle their digital money. Also, partnering with banks and investment firms can give hardware wallet makers access to new groups of customers.

Simultaneously, businesses can offer educational resources to help users understand the importance of hardware wallets in securing their digital assets. This can take in webinars, tutorials, and written guides. Educating customers about best practices will not only secure their cryptocurrencies but will also help build trust and loyalty.

Last but not least; the cryptocurrency market is global and businesses should think about reaching customers even beyond their own countries to benefit from the increasing interest in hardware wallets worldwide. This could mean teaming up with global distributors, offering support in multiple languages, and following the rules and regulations in various areas.

In the cryptocurrency hardware wallet industry, ensuring top-notch security is crucial. To build trust with customers and stand out in a competitive market, companies can also invest in security audits and certifications. These industry-recognized certifications can demonstrate the integrity of their products.

Wrapping up

To sum up, it can be stated that the cryptocurrency hardware wallet market has come up with a promising business opportunity in the evolving landscape of digital assets. As the demand for secure storage solutions continues to grow, businesses are advised to provide reliable and user-friendly hardware wallets so that they can reap huge benefits from the cryptocurrency industry.

In order to stay tall in the industry, organizations should always stay updated about market developments and adhere to regulatory guidelines, thus improving their products and services altogether. By forming partnerships, adopting innovation, and expanding globally, businesses in the industry can actually thrive even more in the coming years.

The post "Cryptocurrency Resilience in Turkey Amidst Economic Turmoil" first appeared on 36Crypto News.

Regulation of cryptocurrency exchanges in Turkey has come under the purview of the Ministry of Treasury and Finance (MTP).

The digital Turkish lira project is getting closer to the people every day.

Faruk Fatih Ozer, the CEO of the Turkish cryptocurrency exchange Thodex, who was later apprehended, was sentenced to 11,196 years in prison.

“Half of Turkey’s adult population are crypto investors,” my friend shared over breakfast. It’s no secret that due to the inflation crisis, the lira has fallen by more than 50% against the US dollar, which has sparked a sudden interest in digital assets among citizens.

The Rise and Fall of Thodex

Founded in 2017, Thodex was Turkey’s largest cryptocurrency exchange before its collapse. According to our previous reports, after the collapse, around 400,000 users were unable to access their cryptocurrency deposits, totaling approximately $2 billion.

Faruk Fatih Ozer, the CEO of Thodex

Ozer stated after closing trading, that the main reason was an unidentified pause in foreign investments, which required a four- to five-day break.

However, the very next day, the CEO changed his version, claiming that cyberattacks had forced the trading to stop. Despite this, the company assured that customers’ funds remained secure and promised to return the money to investors.

After the platform’s collapse, Faruk Fatih Ozer left Turkey; some sources reported that he was hiding in Albania. Eventually, in August 2022, he was found in Vlora, an important coastal city in Albania.

The Thodex collapse had a shocking effect on the cryptocurrency community, especially in Turkey. Moreover, the collapse coincided with the devaluation of the Turkish lira and subsequent inflation in the country. A coincidence? I don’t think so.

Cryptocurrency Adoption in Turkey According to KuCoin Statistic

In the midst of recent events, over the past couple of years, Turkey has seen a significant increase in cryptocurrency adoption as citizens seek ways to combat rising inflation. A recent report from KuCoin Exchange shows that cryptocurrency adoption in the country has increased from 40% to 52% between 2021 and 2023.

Acceptance of cryptocurrencies amid worrisome inflation

Despite the Turkish president’s negative stance on cryptocurrencies and his opposition to them, there is a trend among young people in Turkey that confirms growing interest in cryptocurrencies. Turkey’s struggle with rising inflation, which led to the lira losing over 50% against the US dollar, was documented by Invezz.com news in 2023.

“Understanding Cryptocurrency Users” Survey by KuCoin

A survey of 500 participants revealed significant shifts in investments and cryptocurrency ownership in Turkey. Various factors contribute to the increased interest in cryptocurrencies, including the search for alternatives in the face of rapid inflation.

Among those surveyed, 58% invest in digital assets to accumulate wealth in the long term. This indicates that many Turkish citizens see cryptocurrency as a profitable investment option to preserve and grow their wealth, as inflation deteriorates the economy. Additionally, 37% of participants view cryptocurrency as a means of savings, emphasizing the decline in the value of the Turkish lira.

The results show that Turks recognize and trust digital assets. While men are more likely to invest in cryptocurrency, KuCoin’s report shows changes in this trend.

Thanks to this survey, young female investors are joining this trend: 47% of market players aged 18 to 30 are women. This confirms the industry’s recognition by a wide range of people, including both women and men.

Bitcoin remains the favorite asset

Bitcoin remained popular among Turkish players, with 71% of participants reporting ownership. Ethereum followed at 45%. Furthermore, stablecoins attracted 33% of market players, emphasizing the demand for stable assets for value preservation, transfer, and trading of digital products.

KuCoin statistics

The report also highlights a significant increase in interest in Metaverse, meme coins, and non-fungible tokens (NFTs) by 19%, 18%, and 21%, respectively. Players aged 31 to 44 are more interested in meme coins, the Metaverse, and NFTs. Meanwhile, DeFi assets and public networks hold 12% each.

27% of participants attribute their entry into the world of cryptocurrencies to influential figures in social media. Particularly, the younger generation considers platforms like YouTube (41%), Twitter (34%), Telegram (29%), and Instagram (19%) as reliable sources of news.

KuCoin CEO Johnny Lyu stated in the interview,

“We are pleased to present this comprehensive report that sheds light on the dynamic cryptocurrency community in Turkey. We aim to contribute to a more informed crypto landscape through the ‘Crypto Universe Review’ and promote responsible cryptocurrency usage. We hope this report will stimulate meaningful discussions and contribute to the collective knowledge of the global crypto community.”

The report by KuCoin is intended to provide readers with meaningful data and analysis so that they can make informed decisions in the cryptocurrency space and explore new opportunities in the crypto world.

The Connection of Cryptocurrency with Other Industries

Cryptocurrencies are not just taking over the financial sector. If you follow activity on Twitter, you’ll see that the interests of all users can be divided into numerous mini-communities that interact with each other. From ordinary homemakers posting photos of their lives to football fans and even celebrities expressing their views on cryptocurrencies.

One of the greatest stand-up comedians in the country, Cam Yılmaz, who has received recognition nationwide, has also shown a positive stance towards cryptocurrency. His Twitter account header includes a link to OpenSea, which features over a hundred different NFTs.

Additionally, with the football season starting, you can increasingly see the beloved FC Trabzonspor, which bears one of the most popular exchanges in Europe — WhiteBIT on its jersey, thus popularizing cryptocurrencies among football fans.

Conclusion

Turkey has witnessed a remarkable surge in cryptocurrency adoption. As the Turkish lira faced a significant devaluation and inflation crisis, citizens turned to digital assets as a means of wealth preservation and investment. The numbers tell a compelling story — from a substantial increase in cryptocurrency ownership to a growing trust in digital assets among Turks.

As Turkey navigates economic challenges, cryptocurrency adoption continues to grow, reshaping the financial landscape. With the support of all people including influential figures and even football clubs embracing cryptocurrencies, it’s evident that the crypto revolution is not confined to the financial sector but is becoming an integral part of various industries and communities in Turkey.

In conclusion, Turkey’s journey into the world of cryptocurrencies is marked by challenges, resilience, and growing interest among its people. The future holds exciting prospects for the intersection of traditional finance and digital assets in this dynamic landscape.

The post "Over $23 Million Worth of ETH and XRP Stolen in CoinEx Hack" first appeared on 36Crypto News.

In a sad development, the CoinEx crypto exchange reported a hack that drained over $23 million worth of crypto assets from the platform. On September 12, the attention of the crypto community was drawn to the suspected hack.

The Hong Kong-based crypto exchange experienced an abnormal crypto withdrawal to a wallet address with no recorded history. This led to security experts raising speculations of a potential hack.

Cyvers Alert - a blockchain security platform reported this on X (formerly Twitter), estimating the total funds lost to be almost $27 million. The crypto assets affected in this incident include Ethereum (ETH), Ripple (XRP), TRON, and Polygon (MATIC).

However, another crypto-tracking platform, MistTrack reported earlier today that the amount of stolen funds is now valued at $54 million. MistTrack arrived at this conclusion after monitoring the hacker's address.

Over 12.62 million XRP (estimated at $6.06 million) were stolen from the exchange. The second largest cryptocurrency in the world, Ethereum recorded the most significant loss. About $17.5 million ETH tokens were stolen by the perpetrators.

CoinEx immediately responds

Following the breach, CoinEx responded swiftly by identifying the wallet addresses linked to the hack. To prevent further loss, the exchange quickly transferred funds from the hacked hot wallet to more secure cold storage.

Furthermore, CoinEx is seeking assistance from affected projects and other well-meaning industry colleagues to flag and freeze addresses associated with the incident, and subsequently recover stolen funds.

Meanwhile, CoinEx continues to assure its users that their assets are secure with the platform, claiming that the affected fund is just a "very small portion" of CoinEx’s total assets. In addition, it announced that victims would get fully compensated for their losses.

"We assure all users: your assets are secure and untouched. Affected parties will receive 100% compensation for any loss due to this breach. For added security, deposit & withdrawal services are temporarily suspended and will resume after a thorough review," it said in a statement.

Finally, CoinEx pleads for patience and understanding from its users, reiterating its priority as the security and trust of its users.

The post "Binance US CEO Brian Shroder Steps Down: What Does This Mean?" first appeared on 36Crypto News.

The CEO of Binance US, Brian Shroder has reportedly cut ties with the crypto exchange giant, stepping down as the firm's Chief Executive Officer. This development comes amid plans to cut over 100 positions as reported by a company spokesperson. Also, this comes shortly after Binance US successfully transitioned to a crypto-only exchange.

As reported by Bloomberg, Shroder has been replaced by Norman Reed - the Chief Legal Officer on an interim basis. Significantly, Binance US is carrying out these shake-offs as its legal battle with the Securities and Exchange Commission continues.

This notable development could have a significant implication for the company. In June 2023, the SEC accused Binance and its CEO Changpeng “CZ” Zhao of mishandling customers' funds and breaking securities law.

Binance US was established in 2019 as the United States arm of the global exchange to navigate regulations and cater to users who are residents of the country. However, the firm still finds itself grappling with regulatory battles.

Binance US representative said in a statement,

“The actions we are taking today provide Binance.US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange."

He added that the crackdown from the SEC is an "aggressive attempt to cripple the crypto industry" and has real-life consequences for American jobs and innovations, citing the staff lay-offs as a typical example.

Brian Shroder Leaves Binance US

Brian Shroder joined the company in June 2021, two years after it was formed. He worked as the President and CEO of the firm supervising business strategy and corporate developments.

In addition, he also managed the company's Product and technology functions, as well as HR. Before joining Binance US, Shroder worked at Ant Group and Uber, holding high executive positions.

Sadly, on September 13, 2023, Brian Shroder departed from Binance US, leaving his position as CEO taken over by Norman Reed.

Meanwhile, Binance US is doing all it can to keep the company afloat. Cutting over one-third of its staff is a major move to achieve this. Ultimately, the departure of its CEO and other staff members underscores the challenges the crypto exchange giant is currently facing in the country and globally.

Finally, the attention of the entire crypto community is fixed on the firm to see how well it navigates these challenging times.

The post "Vitalik Buterin Transfers 2000 ETH to Another Address: Details" first appeared on 36Crypto News.

Vitalik Buterin, #Ethereum co-founder continues to move funds as he reportedly transfers 2000 ETH tokens to another wallet address. The crypto giant has been in the news recently making waves in the crypto community.

On-chain transaction tracker, Lookonchain reported that the wallet relating to Buterin transferred a staggering 2000 ETH (equivalent to $3.12 million) to an address labeled “0x5567.”

Interestingly, this is not the first time the wallet has been involved in huge transactions. The wallet has moved a total of 2,700 ETH ($4.77 million) to the London-based crypto exchange, Bitstamp.

This comes shortly after Buterin initiated a transfer of 3,000 ETH from his publicly labeled Ethereum wallet, Vitalik.eth to a wallet address labeled “Vb 2.” on August 28.

With these chunks of transfers, speculations are beginning to rise among the crypto community as to possible reasons. One possible reason is that Vitalik is redistributing money for the purpose of investment.

He might also sell off part of his assets to protect himself from market volatility. However, these are informed speculations, but the precise reason for this is still unknown.

The timing of the transfers coincides with the high volatility in the crypto market. Transfers of this size can either stabilize the said asset price or make the existing volatility even worse.

Ultimately, the reason behind the significant transfers is not clear, however, investors can only hope that it does not negatively impact the price of the asset. The attention of institutional and retail investors has been drawn to these transactions. It will be interesting to see how the events will shape the price of #ETH in the coming months.

Ethereum (ETH) price today

Ethereum along with the global market gradually recovers from market turbulence. According to the latest data from Coinstats, the price of ETH stands at $1,600 which represents a 0.41% increase in the last 24 hours. What’s more, Ethereum has a 24-hour trading volume of $8,524,047,416 ($8 billion) with a live market cap of $192,228,628,892 ($192 billion).

The post "Vitalik Buterin Breaks Silence After X Account Hack, Confirms SIM Swap Attack" first appeared on 36Crypto News.

Ethereum Co-founder Vitalik Buterin finally speaks out after a breach of his X account last weekend confirming it was due to a SIM swap attack. Buterin made this known earlier today via the decentralized social media network Farcaster.

According to him, he has finally gained control over his T-Mobile account after the perpetrators "socially engineered T-Mobile" to take control of his phone number. The incident saw phishing links promoted on his account ignited conversations around security measures.

Buterin went on to highlight some lessons he learned while using X (formerly Twitter). He pointed out that even if a phone number is not used as 2fa on Twitter, it is still enough to reset an account password, adding that he had been previously advised not to use his phone number as an authentication method, but failed to listen.

"A phone number is sufficient to password reset a Twitter account even if not used as 2FA. Can completely remove phone from Twitter," he said.

Victims lost almost $700k from the hack

As previously reported by 36crypto, Vitalik Buterin's X account was taken over by hackers on September 9 who posted phishing links promoting a fake NFT giveaway. The post urged users to participate in the limited offer by clicking on the link attached to the post.

Before it was verified as fake, unsuspecting users already interacted with the post which resulted in a collective loss of almost $700,000 ($700k). A notable Ethereum developer, Bok Khoo was one of the victims of the hack, losing 153 ETH worth of his CryptoPunk NFT (approximately $250,000).

Following the incident, a wide range of speculations dominated the crypto community with members discussing vulnerability and cyber threats. Some users already even speculated that the attack was a result of a SIM swap.

Ethereum developer Tim Beiko advised the public on September 10 against using their phone numbers for 2FA on X.

"If you have a phone number linked on your account, even with other 2FA, it can be used to reset your PW. Need to specifically disable it + remove phone #," he said.

T-Mobile and SIM swap attacks

Meanwhile, this would not be the first time T-Mobile has been involved in this form of attack. The telecommunication company was sued in 2020 for enabling the theft of crypto worth about $8.7 million. Also, in February  2021, a customer sued the company after they lost $450,000 worth of Bitcoin in a SIM-swap attack.

Hackers use SIM swap as a type of attack to gain control over a victim's phone number consequently having access to their social media, banks, and crypto accounts.