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Blockchain Engineer Alleges Attack Triggered Terra's $50 Billion Downfall

Jacob Gadikian, founder of the Cosmos blockchain services provider Notional Labs, has referred to the downfall of Terra $LUNC , the algorithmic stablecoin project, as a product of chain disruption.
On social media, Gadikian stated that, in his view, the failure of the Terra ecosystem was the consequence of an attack by an unidentified third party. This attack aimed to undermine the Terra blockchain, intending to disrupt the $1 UST peg and profit from arbitrage of the token.
He pointed out that, at the time, the set of validators was under attack and that hundreds of millions were being manipulated for no apparent reason. Gadikian also revealed a video demonstrating an attack on the Cosmos hub security testnet, which produced the same effect observed during the alleged attack that caused UST’s depeg.
Other investigators concurred with Gadikian, stating that during the depeg, the chain registered a sixfold increase in transactions, attributed to bots. According to Flipside, a blockchain intelligence company, these bots “impeded Terra from being able to use its signature economic model to restore its UST peg.”

Sony’s blockchain Soneium launches amid controversy, ‘blacklisting memecoins they don’t like’

Soneium, the Ethereum Layer-2 blockchain developed by Sony (NYSE: SONY), has finally launched its mainnet, revealing a controversial decision. The blockchain is reportedly censoring and “actively blacklisting” specific tokens such as memecoins and other alleged intellectual property (IP) violations.
Since its first announcement in August 2024, Soneium is one of the most expected developments in the Ethereum ecosystem. This is because the Layer-2 blockchain belongs to Sony, a 78-year-old Japanese technology giant, with a strong market share worldwide.
Until now, Sony’s blockchain had being running in a testnet, without any noticeable restrictions, thriving backed by a reputable brand. However, the mainnet launch, announced on January 13’s night (EST), officially introduced Soneium to the world under significant controversy.

Virtuals Launches AI Agent on Ronin Blockchain With JAIHOZ Token

Ronin, a blockchain designed for Web3 gaming, has partnered with Virtuals Protocol to incorporate an artificial intelligence (AI) agent into its platform.

Virtuals Protocol, a platform merging artificial intelligence (AI) with decentralized frameworks, claims to simplify the creation and deployment of AI agents. These agents, which operate onchain or in digital environments, are said to fulfill roles as social media figures, onchain traders, or in-game non-playable characters (NPCs).
The collaboration’s flagship product is Jaihoz, an AI agent modeled after Jeffrey Zirlin, co-founder of Sky Mavis, the studio behind Axie Infinity. Virtuals reportedly designed Jaihoz to echo aspects of Zirlin’s online presence, albeit with added autonomy and personality. While Jaihoz is active on social media and intends to interact with users on Ronin’s platform, it is uncertain how impactful or beneficial these interactions will prove. These agents have been growing fiercely in popularity over the last few weeks.
#AIAgentFrenzy #AltcoinBoom

Dogecoin Whales Accumulate Nearly 1 Billion DOGE in Two Days After Elon Musk's Crypto Forecast

Cryptocurrency trader and analyst Ali Martinez shared data on X indicating a substantial upswing in Dogecoin purchases. This buying frenzy was triggered by Musk’s recent remarks concerning the potential future slump of cryptocurrency prices.
The data shared by Martinez unveiled that Dogecoin whales have swiftly purchased over 470 million DOGE in the past two days. This surge in buying activity was concurrent with a 20% plunge in the price of Dogecoin, from $0.39620 to a low of $0.31648.

Bitcoin swings back above $97,000, in stunning reversal, as light inflation data stokes risk appetite

Bitcoin bounced on Tuesday, rising with other risk assets as traders digested a light inflation reading.
On Tuesday the price of the flagship cryptocurrency rose 4.5% to $97,044.35, according to Coin Metrics, after sliding below the $90,000 support level to start the week. The broader crypto market, as measured by the CoinDesk 20 index, added 3.9%.

Bitcoin ETFs Pull $307M on Week of 1-Year Launch Anniversary

Bitcoin ETFs have acquired $107.64 billion, or 5.74% of BTC’s circulating supply since Jan. 11, 2024.
BlackRock’s BTC ETF commands over $52 billion in net assets.
The Grayscale Bitcoin Trust has seen over $21 billion in cumulative net outflows.

Indian Railways To Roll Out Polygon-Based NFT Tickets for Mahakumbh Mela

Indian Railways is introducing nonfungible token (NFT) train tickets for the upcoming Mahakumbh Mela—a major religious gathering expected to attract over 450 million visitors.

The Indian Railway Catering and Tourism Corporation (IRCTC) will collaborate with Chaincode Consulting to utilize the Polygon blockchain’s scalability.
The NFT tickets will be managed through a platform called NFTtrace.
The decision to use NFTs for the Mahakumbh Mela ticketing system follows previous efforts by Indian Railways to integrate blockchain technology into their services.
The initiative is not limited to religious gatherings; it also aligns with the railways’ broader interest in digital solutions. Indian Railways has already implemented NFT ticketing for other events, such as the Holi festival, earlier this year.
While the Indian government has been cautious about the use of cryptocurrencies, the adoption of blockchain technology for ticketing and other non-financial applications reflects an openness to the underlying technology.
This is in line with the Reserve Bank of India’s stance, which has emphasized the potential of blockchain while discouraging the use of cryptocurrencies.

#ReboundOutlook #MicroStrategyAcquiresBTC

Middle East Emerges as Growing Crypto Hub Amid 166% Surge in Traders

The Middle East is rapidly establishing itself as a key player in the global cryptocurrency landscape, with both local traders and international businesses flocking to the region.
A new report from Bitget highlights a significant uptick in crypto trading activity, with a 166% increase in daily active traders across the region in 2024.
166% Growth in Active Crypto Traders
The report shows that the number of daily active crypto traders in the Middle East soared from 330,000 in 2023 to over 700,000 by the end of 2024.
This rapid growth is a direct result of favorable regulations, the approval of Bitcoin ETFs, and a broader market recovery that has rekindled interest in digital assets.
The region now boasts 500,000 daily traders, positioning it as a major force in the global crypto market.
The UAE Leads the Charge
A significant portion of this growth can be attributed to the UAE, which has emerged as the region’s leading crypto hub.
The country is ranked third globally on the Henley crypto adoption index for 2024, with an estimated $338.7 billion in on-chain value expected to flow through the country between July 2023 and June 2024.
According to Chainalysis data, the UAE accounts for 7.5% of global transaction volume, with its daily trader count reaching around 500,000.
Gracy Chen, Managing Director of Bitget, noted that the UAE’s regulatory environment, which favors crypto companies, has been pivotal in this growth.
“The UAE, in particular, holds significant importance as a regional base. It has emerged as a hub for cryptocurrency talents, funds, and enterprises, while also steadily gaining global influence in the crypto space,” She noted.

Crypto.com and Polymarket Under Fire as CFTC Tightens Betting Regulations

As Bloomberg reports, the CFTC is examining whether Crypto.com’s Super Bowl and American football event contracts violated gaming laws.
Gambling laws are complicated in the U.S. Sports betting has been banned or prohibited in most states under federal law for many years. Since 2018, however, the states have been allowed to regulate the activity themselves.
Some have opted to legitimize sports betting wholesale, while others may still restrict sports gambling to specific locations or other limitations. Regardless, 38 states, including the District of Columbia, have legalized sports betting to some degree; 30 of those states allow online and mobile sports betting.
In August, the agency proposed banning certain event contracts, namely those in sports and politics.
Crypto.com’s contracts, which allow the platform’s investors to wager on outcomes of college and National Football League matches, are purposefully ambiguous in not mentioning the games by their formal names on promotional or social media materials, though they can be seen on the platform’s app.
The problem is that Crypto.com is available in all 50 states and isn’t managed state-by-state. Crypto.com’s introduction of a “self-certified” contract may violate gaming law. Ironically, this comes after a legal ruling effectively greenlit events contracts.

Sonic Announcement: Most major CEXs have started upgrading $FTM to $S for their users.

Ensure you confirm with your CEX before depositing any tokens.

JPMorgan believes Solana, XRP ETPs could attract $15 billion in net inflows

According to an estimate by JPMorgan, exchange-traded products (ETPs) for XRP and Solana (SOL) could attract over $15 billion in net inflows. 
Matthew Sigel, head of digital assets research at VanEck, shared that the forecast considers the performances of Bitcoin (BTC) and Ethereum (ETH) in relation to their market cap and ETP flows.
Bitcoin ETPs reached $108 billion in assets within their first year of trading, representing 6% of BTC’s total market cap of $1.8 trillion. Similarly, Ethereum ETPs achieved a 3% penetration rate within six months, amassing $12 billion in assets compared to ETH’s $395 billion market cap.
Using these adoption rates as benchmarks, SOL could see inflows between $3 billion and $6 billion, while XRP could attract between $4 billion and $8 billion.

Russia’s Bitcoin mining demand triples amid regulatory shifts and price rally

Russia has seen a sharp rise in Bitcoin mining activity as citizens and businesses turn to crypto mining for additional income streams, local media outlet Prime reported.
According to the report, the demand for industrial Bitcoin mining equipment in Russia has tripled compared to the same quarter in 2023.
This surge coincides with a lucrative period for Bitcoin miners, fueled by the top crypto’s significant price rally in 2024. Over the past year, institutional miners have reported substantial growth in their Bitcoin reserves, further emphasizing the sector’s profitability.

#ReboundOutlook

US selling 69K seized bitcoins could mess with Trump plans for crypto reserve

At the end of 2024, a US court authorized the Department of Justice to sell 69,370 bitcoins from "the largest cryptocurrency seizure in history."
At bitcoin's current price, just under $92,000, these bitcoins are worth nearly $6.4 billion, and crypto outlets are reporting that DOJ officials have said they're planning to proceed with selling off the assets consistent with the court's order. The DOJ had reportedly argued that bitcoin's price volatility was a pressing reason to push for permission for the sale.
Ars has reached out to the DOJ for comment and will update the story with any new information regarding next steps.
A hacker initially stole these bitcoins from Silk Road—an illegal online marketplace where goods could only be bought and sold with bitcoins—in 2012, shortly before the US government shut down the marketplace. The US later discovered the stolen bitcoins in 2020 while conducting further investigations of Silk Road, eventually securing a consent agreement that year from the hacker, who signed the bitcoins over to the government.
Whether the government's seizure of those bitcoins was proper has been disputed by Battle Born Investments, a company that purchased the assets of bankruptcy estate from an individual who they believed to be either the hacker whose bitcoins were seized or someone "associated with him."

TRUMP NEWS : Under Trump, cryptocurrency is set to go mainstream – but that won’t make it any safer for investors

As the United States prepares for Donald Trump’s inauguration on 20 January, all eyes are on the cryptocurrency markets. After Bitcoin’s price reached $100,000 (£81,917) for the first time in history in December 2024, the cryptocurrency community is eagerly anticipating Trump’s fulfilment of his campaign promise to make the US the “crypto capital of the planet”. Some analysts predict that Bitcoin’s price could range between $78,000 and $250,000 in 2025.
Blockchain technology has numerous applications beyond crypto payments – for example, in supply chain and logistics. But it is the price surges of Bitcoin, Ethereum and “meme coins” that capture the majority of public attention. Speculative demand and the potential for abnormal returns, which are rarely found in other financial markets, remain key drivers of their prices.

Bitcoin Trader Turned $7,000 Into $3M Profit in One Trade

The world of cryptocurrency is full of dramatic stories, but few rival the tale of Michael Monten. At just 20 years old, the London-based crypto trader turned an initial investment of $7,000 into 27 Bitcoin—a staggering $3 million—through a single legendary trade during the infamous COVID market crash. 
Monten’s meticulously planned short on Bitcoin during a critical market downturn catapulted him into the spotlight, inspiring a new generation of traders looking to navigate the volatile world of cryptocurrency.

Sonic $S Announcement : Something big is coming.

$S Sonic is now on Change Now

Reborn from #Fantom, $S is faster and stronger. With insane speed, scalability, and dev rewards, it’s setting a new standard for Layer-1s.