đ MARKET MOVING NEWS! (09/12/24)
1ïžâŁ Cardano Foundation X Account Hacked, Scam Links Posted, Then Removed âŒïž
The Cardano Foundationâs X account was compromised by a malicious actor yesterday. The hacker used the account to promote a fake Cardano-branded token on Solana that generated approximately $500,000 in trading volume before crashing by 99%. They also posted a tweet falsely claiming that the Cardano Foundation would cease supporting ADA due to an alleged lawsuit from the Securities and Exchange Commission (SEC). The hack was confirmed by Cardano founder Charles Hoskinson in a social media post. At the time of writing, the Cardano Foundation is working to fix the compromised account, and no other parts of the Cardano ecosystem have been affected by the hack.
2ïžâŁ Polish Police Arrest Former Russian Crypto Exchange Boss Wanted By US đ
Polish law enforcement has reportedly detained Dmitry V., the former chief of the Russia-based crypto exchange WEX in Warsaw following an extradition request from the United States Department of Justice. Dimitry is wanted in connection with fraud and money laundering charges.
The police statement reads,
Dmitry V. is suspected of numerous frauds, money transfers and money laundering in connection with running one of the largest cryptocurrency exchanges in the world. For the crimes the detained man is suspected of, he could face up to 20 years in prison in the U.S.
3ïžâŁ Iran Moves To Regulate Crypto Instead Of Imposing Limits: Report âïž
The Iranian government is reportedly taking a more favourable stance towards cryptocurrencies. During a national event on Saturday, Iranâs Minister of Economic Affairs and Finance Abdolnaser Hemmati claimed the country was looking to embrace crypto assets by adding more regulations instead of outright restrictions. The minister also stated that digital money falls under the jurisdiction of the Iranian central bank. The Central Bank of Iran also published a new document that summarised its arrangement for upcoming policies on cryptocurrencies, on the same day as Hemmatiâs speech. The upcoming policies aim to support crypto traders to comply with local tax and anti-money laundering laws.
4ïžâŁ Pudgy Penguins Overtakes BAYC As Second-Largest NFT Collection By Market Cap đŒ
Pudgy Penguins, a popular NFT collection on Ethereum, has reportedly overtaken Bored Ape Yacht Club to become the second-largest NFT collection by market capitalisation. According to data on CoinGecko, the floor price of Pudgy Penguins jumped 8.4% over the past 24 hours to 22.1 ETH ($86,922), marking a weekly increase of 44.9%. This boosted its market cap to $772.5 million, surpassing BAYCâs $755 million. The rise in floor price for Pudgy Penguins comes after last weekâs announcement of an upcoming official token airdrop.
5ïžâŁ National Center For Public Policy Research Proposes BTC Treasury To Amazon đž
The National Center for Public Policy Research, a Washington DC-based think tank, has reportedly submitted a shareholder proposal to e-commerce giant Amazon that recommends considering a Bitcoin corporate treasury strategy at the April 2025 shareholder meeting. The proposal claims Amazon should consider allocating at least 5% of its assets to BTC to protect shareholder value from currency debasement. It claims the Consumer Price Index (CPI) used to measure inflation is a âremarkably poor measureâ of true currency debasement. The authors suggested the true inflation rate may be double the reported CPI figure.
The National Center for Public Policy Research wrote,
As of December 6, 2024, the price of Bitcoin increased by 131% over the previous year, outperforming corporate bonds by 126% on average. Over the past five years, the price of Bitcoin increased by 1,246%, outperforming corporate bonds by 1,242% on average.#TokenUnlocks:APT,ADA,ENA $
