Crypto hackers surpass $1.2 billion stolen in 2024: Immunefi
Cryptocurrency hackers have now stolen over $1.2 billion, following the latest hacks in August, raising further concerns about widespread crypto adoption.
The crypto industry saw a total of $1.21 billion worth of digital assets lost to hacks and rug pulls year-to-date (YTD) in 2024 across 154 individual exploits.
This represents a 15.5% increase compared to…
https://cryptoinsight.ae/crypto-hackers-surpass-1-2-billion-stolen-in-2024-immunefi/
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Cryptocurrency hackers have now stolen over $1.2 billion, following the latest hacks in August, raising further concerns about widespread crypto adoption.
The crypto industry saw a total of $1.21 billion worth of digital assets lost to hacks and rug pulls year-to-date (YTD) in 2024 across 154 individual exploits.
This represents a 15.5% increase compared to…
https://cryptoinsight.ae/crypto-hackers-surpass-1-2-billion-stolen-in-2024-immunefi/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $2.18 Trillion, a -0.6% change in the last 24 hours
Bitcoin ~ $59,228.15 (0.5%)
Ethereum ~ $2,526.52 (0.5%)
Solana ~ $138.15 (-0.2%)
Polkadot ~ $4.30 (0.4%)
Flow ~ $0.5584 (1.4%)
Follow and subscribe - @GulfCryptoInsight
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Day started from:
The global cryptocurrency market cap today is $2.18 Trillion, a -0.6% change in the last 24 hours
Bitcoin ~ $59,228.15 (0.5%)
Ethereum ~ $2,526.52 (0.5%)
Solana ~ $138.15 (-0.2%)
Polkadot ~ $4.30 (0.4%)
Flow ~ $0.5584 (1.4%)
Follow and subscribe - @GulfCryptoInsight
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Singapore, Hong Kong and UAE lead in crypto adoption: Report
A study reveals that Singapore has claimed the top position in global cryptocurrency adoption, with Hong Kong and the United Arab Emirates following closely behind.
The Henley Crypto Adoption Index 2024, released by the investment migration consultancy firm Henley & Partners, studied the state of crypto adoption in different countries.
The researchers ranked various jurisdictions…
https://cryptoinsight.ae/singapore-hong-kong-and-uae-lead-in-crypto-adoption-report/
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A study reveals that Singapore has claimed the top position in global cryptocurrency adoption, with Hong Kong and the United Arab Emirates following closely behind.
The Henley Crypto Adoption Index 2024, released by the investment migration consultancy firm Henley & Partners, studied the state of crypto adoption in different countries.
The researchers ranked various jurisdictions…
https://cryptoinsight.ae/singapore-hong-kong-and-uae-lead-in-crypto-adoption-report/
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Banks face new risks from permissionless blockchains, BIS warns
Permissionless blockchain networks, such as the Ethereum blockchain, pose several risks that banks have yet to fully address, according to a new paper published on the Bank for International Settlements (BIS) website.
The Basel Committee on Banking Supervision (BCBS), a committee of banking supervisors established by the G10 central bank governors, issued a working paper…
https://cryptoinsight.ae/banks-face-new-risks-from-permissionless-blockchains-bis-warns/
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Permissionless blockchain networks, such as the Ethereum blockchain, pose several risks that banks have yet to fully address, according to a new paper published on the Bank for International Settlements (BIS) website.
The Basel Committee on Banking Supervision (BCBS), a committee of banking supervisors established by the G10 central bank governors, issued a working paper…
https://cryptoinsight.ae/banks-face-new-risks-from-permissionless-blockchains-bis-warns/
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Solutions without problems: How many Ethereum layer 2s are too many?
Ethereum’s Dencun update has led to a Cambrian explosion of layer 2s, but industry insiders say there are already far too many.
There are 73 layer-2 blockchains listed on L2beat, with 82 in the pipeline.
Adrian Brink, co-founder and CEO of the intent-based blockchain Anoma, believes that’s 10 times more than the industry actually requires.…
https://cryptoinsight.ae/solutions-without-problems-how-many-ethereum-layer-2s-are-too-many/
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Ethereum’s Dencun update has led to a Cambrian explosion of layer 2s, but industry insiders say there are already far too many.
There are 73 layer-2 blockchains listed on L2beat, with 82 in the pipeline.
Adrian Brink, co-founder and CEO of the intent-based blockchain Anoma, believes that’s 10 times more than the industry actually requires.…
https://cryptoinsight.ae/solutions-without-problems-how-many-ethereum-layer-2s-are-too-many/
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Hello there!
Day started from:
The global cryptocurrency market cap today is $2.13 Trillion, a -3.1% change in the last 24 hours
Bitcoin ~ $58,119.20 (-1.9%)
Ethereum ~ $2,471.95 (-2.2%)
Solana ~ $132.17 (-4.3%)
Polkadot ~ $4.18 (-2.7%)
Flow ~ $0.5432 (-2.7%)
Follow and subscribe - @GulfCryptoInsight
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Day started from:
The global cryptocurrency market cap today is $2.13 Trillion, a -3.1% change in the last 24 hours
Bitcoin ~ $58,119.20 (-1.9%)
Ethereum ~ $2,471.95 (-2.2%)
Solana ~ $132.17 (-4.3%)
Polkadot ~ $4.18 (-2.7%)
Flow ~ $0.5432 (-2.7%)
Follow and subscribe - @GulfCryptoInsight
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Bitcoin must reach a ‘higher high’ to confirm uptrend after dip below $58K
Bitcoin’s next move needs to print a bullish “higher high” on the price chart to keep its uptrend intact after recently dropping below $58,000, according to a crypto analyst.
“We really need to start to bounce out of this and make a higher high to further confirm that we are in this uptrend that we’ve…
https://cryptoinsight.ae/bitcoin-must-reach-a-higher-high-to-confirm-uptrend-after-dip-below-58k/
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Bitcoin’s next move needs to print a bullish “higher high” on the price chart to keep its uptrend intact after recently dropping below $58,000, according to a crypto analyst.
“We really need to start to bounce out of this and make a higher high to further confirm that we are in this uptrend that we’ve…
https://cryptoinsight.ae/bitcoin-must-reach-a-higher-high-to-confirm-uptrend-after-dip-below-58k/
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Coinbase sees first crypto transaction between AI agents
Coinbase CEO Brian Armstrong recently oversaw his first crypto transaction completely managed by artificial intelligence bots, following several industry efforts to develop platforms for AI agents to execute transactions.
“This week at @CoinbaseDev we witnessed our first AI to AI crypto transaction,” Coinbase CEO Brian Armstrong wrote in an Aug. 30 X post.
Armstrong says…
https://cryptoinsight.ae/coinbase-sees-first-crypto-transaction-between-ai-agents/
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Coinbase CEO Brian Armstrong recently oversaw his first crypto transaction completely managed by artificial intelligence bots, following several industry efforts to develop platforms for AI agents to execute transactions.
“This week at @CoinbaseDev we witnessed our first AI to AI crypto transaction,” Coinbase CEO Brian Armstrong wrote in an Aug. 30 X post.
Armstrong says…
https://cryptoinsight.ae/coinbase-sees-first-crypto-transaction-between-ai-agents/
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Why is the SEC going after digital art and monkey pictures?
The United States Securities and Exchange Commission issued a Wells notice to OpenSea on Aug. 28, stating that the non-fungible token (NFT) exchange had served as a marketplace for unregistered securities.
OpenSea CEO Devin Finzer said he was “shocked” by the SEC action.
The crypto community protested the notice, which serves as a warning that…
https://cryptoinsight.ae/why-is-the-sec-going-after-digital-art-and-monkey-pictures/
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The United States Securities and Exchange Commission issued a Wells notice to OpenSea on Aug. 28, stating that the non-fungible token (NFT) exchange had served as a marketplace for unregistered securities.
OpenSea CEO Devin Finzer said he was “shocked” by the SEC action.
The crypto community protested the notice, which serves as a warning that…
https://cryptoinsight.ae/why-is-the-sec-going-after-digital-art-and-monkey-pictures/
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Hello there!
Day started from:
The global cryptocurrency market cap today is $2.11 Trillion, a -2.4% change in the last 24 hours
Bitcoin ~ $57,796.58 (-0.6%)
Ethereum ~ $2,449.81 (-0.9%)
Solana ~ $129.06 (-2.4%)
Polkadot ~ $4.11 (-1.7%)
Flow ~ $0.5312 (-2.2%)
Follow and subscribe - @GulfCryptoInsight
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Day started from:
The global cryptocurrency market cap today is $2.11 Trillion, a -2.4% change in the last 24 hours
Bitcoin ~ $57,796.58 (-0.6%)
Ethereum ~ $2,449.81 (-0.9%)
Solana ~ $129.06 (-2.4%)
Polkadot ~ $4.11 (-1.7%)
Flow ~ $0.5312 (-2.2%)
Follow and subscribe - @GulfCryptoInsight
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Crypto liquidations may be way worse than data has let on, suggest researchers
The amount and scale of crypto market liquidations could be much worse than data from major exchanges suggest, according to a researcher.
On Aug. 29, K33 Research senior analyst Vetle Lunde reported that major cryptocurrency exchanges such as Binance, Bybit, and OKX had significantly altered their reporting of liquidation data since 2021.
These alterations meant…
https://cryptoinsight.ae/crypto-liquidations-may-be-way-worse-than-data-has-let-on-suggest-researchers/
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The amount and scale of crypto market liquidations could be much worse than data from major exchanges suggest, according to a researcher.
On Aug. 29, K33 Research senior analyst Vetle Lunde reported that major cryptocurrency exchanges such as Binance, Bybit, and OKX had significantly altered their reporting of liquidation data since 2021.
These alterations meant…
https://cryptoinsight.ae/crypto-liquidations-may-be-way-worse-than-data-has-let-on-suggest-researchers/
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Whales hoarding Bitcoin: Wallets with 100 or more hit 17-month high
The number of Bitcoin wallets holding 100 BTC or more has just hit a 17-month high, after a surge in hodling over the past month.
Data shared by Blockchain analytics platform Santiment in an Aug. 31 X post, shows over 283 wallets managed to cross the 100 Bitcoin mark in August.
“As crypto prices have…
https://cryptoinsight.ae/whales-hoarding-bitcoin-wallets-with-100-or-more-hit-17-month-high/
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The number of Bitcoin wallets holding 100 BTC or more has just hit a 17-month high, after a surge in hodling over the past month.
Data shared by Blockchain analytics platform Santiment in an Aug. 31 X post, shows over 283 wallets managed to cross the 100 Bitcoin mark in August.
“As crypto prices have…
https://cryptoinsight.ae/whales-hoarding-bitcoin-wallets-with-100-or-more-hit-17-month-high/
Website | Twitter | LinkedIn | Telegram
Cardano’s Chang hard fork successful as it shifts to decentralized governance
The Cardano blockchain has successfully undergone its highly-anticipated hard fork, bringing upgrades to voting mechanisms and smart contracts, and heralding a new era of decentralized governance.
On Sept. 1, at 21:44 UTC at block 10764778, the layer-1 proof-of-stake blockchain Cardano underwent the Chang upgrade which ushered in what the project calls the “Conway ledger era.”…
https://cryptoinsight.ae/cardanos-chang-hard-fork-successful-as-it-shifts-to-decentralized-governance/
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The Cardano blockchain has successfully undergone its highly-anticipated hard fork, bringing upgrades to voting mechanisms and smart contracts, and heralding a new era of decentralized governance.
On Sept. 1, at 21:44 UTC at block 10764778, the layer-1 proof-of-stake blockchain Cardano underwent the Chang upgrade which ushered in what the project calls the “Conway ledger era.”…
https://cryptoinsight.ae/cardanos-chang-hard-fork-successful-as-it-shifts-to-decentralized-governance/
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Hello there!
Day started from:
The global cryptocurrency market cap today is $2.16 Trillion, a 1.4% change in the last 24 hours
Bitcoin ~ $59,010.02 (2.1%)
Ethereum ~ $2,516.36 (2.8%)
Solana ~ $134.33 (4.1%)
Polkadot ~ $4.25 (3.5%)
Flow ~ $0.5786 (8.9%)
Follow and subscribe - @GulfCryptoInsight
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Day started from:
The global cryptocurrency market cap today is $2.16 Trillion, a 1.4% change in the last 24 hours
Bitcoin ~ $59,010.02 (2.1%)
Ethereum ~ $2,516.36 (2.8%)
Solana ~ $134.33 (4.1%)
Polkadot ~ $4.25 (3.5%)
Flow ~ $0.5786 (8.9%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Qatar introduces regulatory framework for digital assets
The Qatar Financial Centre (QFC), a business center based in Doha, Qatar, has released a comprehensive regime for regulating and creating digital assets.
The QFC’s regulators — the Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA) — announced a framework that establishes a foundation for digital assets in the QFC.
The…
https://cryptoinsight.ae/qatar-introduces-regulatory-framework-for-digital-assets/
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The Qatar Financial Centre (QFC), a business center based in Doha, Qatar, has released a comprehensive regime for regulating and creating digital assets.
The QFC’s regulators — the Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA) — announced a framework that establishes a foundation for digital assets in the QFC.
The…
https://cryptoinsight.ae/qatar-introduces-regulatory-framework-for-digital-assets/
Website | Twitter | LinkedIn | Telegram
Ethereum layer-1 network revenue collapses — What’s causing it?
Ethereum layer-1 network revenue has plummeted by 99% since March 2024, despite a dramatic increase in monthly users and daily transaction costs on layer 2s.
According to data from Token Terminal, network fees hit their highest levels for the year on March 5, 2024, at $35.5 million. The Dencun upgrade — which significantly reduced fees…
https://cryptoinsight.ae/ethereum-layer-1-network-revenue-collapses-whats-causing-it/
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Ethereum layer-1 network revenue has plummeted by 99% since March 2024, despite a dramatic increase in monthly users and daily transaction costs on layer 2s.
According to data from Token Terminal, network fees hit their highest levels for the year on March 5, 2024, at $35.5 million. The Dencun upgrade — which significantly reduced fees…
https://cryptoinsight.ae/ethereum-layer-1-network-revenue-collapses-whats-causing-it/
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Empowering the next generation of blockchain projects: Interview with BingX Labs
The rapid evolution of blockchain technology is reshaping industries by enabling greater decentralization, security, and user empowerment. As new use cases emerge and adoption grows, the demand for innovative blockchain solutions is higher than ever, particularly in sectors like finance, digital identity and beyond.
In response to this trend, BingX, a prominent cryptocurrency exchange, is…
https://cryptoinsight.ae/empowering-the-next-generation-of-blockchain-projects-interview-with-bingx-labs/
Website | Twitter | LinkedIn | Telegram
The rapid evolution of blockchain technology is reshaping industries by enabling greater decentralization, security, and user empowerment. As new use cases emerge and adoption grows, the demand for innovative blockchain solutions is higher than ever, particularly in sectors like finance, digital identity and beyond.
In response to this trend, BingX, a prominent cryptocurrency exchange, is…
https://cryptoinsight.ae/empowering-the-next-generation-of-blockchain-projects-interview-with-bingx-labs/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $2.06 Trillion, a -6.0% change in the last 24 hours
Bitcoin ~ $56,238.43 (-4.5%)
Ethereum ~ $2,371.59 (-5.7%)
Solana ~ $127.57 (-5.0%)
Polkadot ~ $4.05 (-4.7%)
Flow ~ $0.5437 (-5.8%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $2.06 Trillion, a -6.0% change in the last 24 hours
Bitcoin ~ $56,238.43 (-4.5%)
Ethereum ~ $2,371.59 (-5.7%)
Solana ~ $127.57 (-5.0%)
Polkadot ~ $4.05 (-4.7%)
Flow ~ $0.5437 (-5.8%)
Follow and subscribe - @GulfCryptoInsight
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21.co launches Bitcoin wrapper on Ethereum
21.co, the parent of cryptocurrency asset manager 21Shares, is launching its own Bitcoin wrapper — 21.co Wrapped Bitcoin (21BTC) — on the Ethereum blockchain network, according to a Sept. 3 announcement.
Launching 21BTC expands 21.co’s existing suite of wrapped tokens on Ethereum, including wrapped Avalanche, Polkadot and Solana tokens. 21.co launched 21BTC on Solana in…
https://cryptoinsight.ae/21-co-launches-bitcoin-wrapper-on-ethereum/
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21.co, the parent of cryptocurrency asset manager 21Shares, is launching its own Bitcoin wrapper — 21.co Wrapped Bitcoin (21BTC) — on the Ethereum blockchain network, according to a Sept. 3 announcement.
Launching 21BTC expands 21.co’s existing suite of wrapped tokens on Ethereum, including wrapped Avalanche, Polkadot and Solana tokens. 21.co launched 21BTC on Solana in…
https://cryptoinsight.ae/21-co-launches-bitcoin-wrapper-on-ethereum/
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New zero-KYC proposal aims to secure P2P crypto transactions
A Reddit user, ShadowOfHarbringer, has introduced a draft proposal for a “Zero-KYC Assurance Mechanism for Fiduciary Money Transfer” (ZKAM-FMT).
The proposal aims to prevent man-in-the-middle (MitM) financial scams in peer-to-peer (P2P) cryptocurrency markets.
ZKAM-FMT sets out to secure transactions without relying on Know Your Customer (KYC) processes, which have been seen as burdensome and invasive…
https://cryptoinsight.ae/new-zero-kyc-proposal-aims-to-secure-p2p-crypto-transactions/
Website | Twitter | LinkedIn | Telegram
A Reddit user, ShadowOfHarbringer, has introduced a draft proposal for a “Zero-KYC Assurance Mechanism for Fiduciary Money Transfer” (ZKAM-FMT).
The proposal aims to prevent man-in-the-middle (MitM) financial scams in peer-to-peer (P2P) cryptocurrency markets.
ZKAM-FMT sets out to secure transactions without relying on Know Your Customer (KYC) processes, which have been seen as burdensome and invasive…
https://cryptoinsight.ae/new-zero-kyc-proposal-aims-to-secure-p2p-crypto-transactions/
Website | Twitter | LinkedIn | Telegram