The week of 11/27 in brief. The news concerning Bitcoin and cryptocurrencies is constantly in flux. It can happen that vital information gets lost in the daily flow of information and that you miss important points. This format is here to remedy that. We return to the news from last week in‘Weekly Crypto in order to keep you informed on the current situation of cryptocurrencies.
Crypto news in brief
▶ Cosmos in turmoil after the passage of a governance proposal. The proposal aims to reduce the inflation of the ATOM token. However, protest from part of the community could lead to a fork of the chain, with the creation of AtomOne.
▶ SEC continues to pursue Binance.US despite recent settlement with DoJ. The SEC’s suit focuses on charges of unauthorized control of client assets and disregard of the law. Judge Zia Faruqui asked Binance and the SEC to reach an agreement by December 15, potentially ending the proceedings due to the SEC’s lack of evidence.
▶ Velodrome and Aerodrome Finance protocols fell victim to attack. Indeed, the attacker succeeded in hijacking the DNS in order to send users to a compromised interface. Approximately $70,000 was stolen.
▶ Footballer Cristiano Ronaldo attacked by American justice. He is accused of promoting unregistered products as part of his partnership with Binance.
▶ A week after the hack, KyberSwap negotiations turn sour. Thus, the hacker who had said he was ready to negotiate announced a series of delusional demands.
▶ How did CZ, the CEO of Binance, become the man to kill for the American authorities?
The 5 metrics of the week
➤ 1 billion dollarsit’s about amount allegedly embezzled by Richard Heart according to the SEC. He is accused of having used his clients’ funds to make personal purchases.
➤ 150 millionit’s the number of DYDX tokens that were unlocked on December 1st at midnight. This equates to 30% of the total allocated to current and future investors, founders, and employees.
➤ 84%it’s about number of Bitcoin addresses which are now in theoretical capital gain. So, this means that the current value of these wallets is higher than when the funds were received.
➤ $5.1 millionit’s the amount that was stolen from a Bitcoin user. It seems that a lack of entropy when generating its private key would have allowed a hacker to generate the same key and access the funds.
➤ December 15it’s about the BUSD stablecoin termination date. Thus, the giant Binance announced that it was terminating its stablecoin, giving users until December 15 to convert their tokens.
Have a good week on the Journal du Coin! 🙂