Schlagwort: crypto business

• Donald Trump will speak at the Bitcoin 2024 conference in Nashville, Tennessee.
• The Bitcoin Coinferene revealed this in an announcement early Thursday.
• Trump related meme coins surged amid the news.

The organizer of the Bitcoin 2024 conference has announced that former US President Donald Trump will be one of the speakers.

Bitcoin 2024 is set to take place in Nashville, Tennessee from July 25 to July 27. This is one of the biggest bitcoin conferences in the world and will see Trump join a roster of top Bitcoiners at a time crypto is increasingly a top topic for politicians.

News that the former president will attend and speak at the conference comes a few weeks after it was revealed that Trump had eyes on the event. The Republican Party nominee met Bitcoin miners at his Mar-a-Lago home in June and advocated for the US becoming the top BTC mining country.

In recent months, the Trump campaign has accepted political donations in crypto. Some of the top Bitcoin and crypto donations have come from Gemini founders Cameron and Tyler Winklevoss and Kraken co-founder Jesse Powell.

Apart from Trump, Bitcoin 2024 will have Robert F. Kennedy Jr., Vivek Ramaswamy and Senator Bill Hagerty among the speakers.  

TrumpCoin (DJT) soars

The announcement that Donald Trump will speak at Bitcoin 24 has sparked considerable gains for meme coins – particularly political meme coins.

While not affiliated to the former US president, these PolitiFi tokens have surged as traders bet on the Republican Party candidate’s chances of winning in November’s election.

One of the top gainers in the politics related meme coins is TrumpCoin (DJT), which was up more than 20% in the past 24 hours. MAGA Hat is also seeing a notable price gain as most tokens battle to shake off bears.

Meanwhile, Bitcoin has returned above $58,000 after reclaiming the $57k level. However, bears continue to cycle as selling pressure from the German government continues.

On Thursday, on-chain data showed the German government’s wallet had sent another 2,375 BTC worth approximately $137.8 million to exchanges, including Kraken, Bitstamp and Coinbase.

The post Donald Trump to speak at the Bitcoin 2024 conference appeared first on CoinJournal.

• CFTC Chair Rostin Behnam says a majority of cryptocurrencies, 70-80%, are non-securities.
• Behnam appeared before the  U.S. Senate Committee on Agriculture, Nutrition and Forestry’s Hearing on the Oversight of Digital Commodities on Wednesday.

Rostin Behnam, the chairman of the Commodities Futures Trading Commission (CFTC), has reiterated his belief that the CFTC is better placed as the agency to oversee crypto.

The CFTC chair made the comments in a testimony during the  U.S. Senate Committee on Agriculture, Nutrition and Forestry’s Hearing on the Oversight of Digital Commodities on Wednesday.

Behnam told lawmakers of the recent court rulings in Illinois that declared Bitcoin (BTC) and Ethereum (ETH) are commodities.

“Just last week, a District Court in the Northern District of Illinois entered summary judgment in favor of the CFTC in a case involving fraud by an unregistered entity that promised steady returns in digital asset commodities such as Bitcoin and Ether. In its decision, the court re-affirmed that both Bitcoin and Ether are commodities under the Commodity Exchange Act,” he said in a testimony.

In the same manner, the CFTC chair noted that most of the cryptocurrencies in the market are not securities, with a percentage applicable to this being around 70-80%.

Behnam also talked of the Commission’s regulatory efforts, particularly in bringing enforcement actions against individuals and entities that breach the commodities laws, including in the digital commodities market.

The CFTC has over the past few years filed more than 135 digital commodity-related cases, with the lawsuits resulting in billions of dollars in penalties and restitution.

While the CFTC continues to work with  law enforcement, there’s continued escalation of digital asset fraud and other violations, largely down to “accelerated and sustained adoption of digital assets by U.S. investors.”

The post CFTC Chair says 70-80% of cryptocurrencies are non-securities appeared first on CoinJournal.

• Ronaldinho is the latest soccer star to promote Water Coin on Instagram, a Solana-based meme coin
• Earlier this week, soccer legend Lionel Messi promoted Water Coin on his Instagram Stories
• The price of Water Coin rose nearly 40% to $0.0012
• Water Coin claims it’s focusing on water-related issues and sustainable projects

Soccer legend Ronaldinho Gaúcho has become the latest to promote the Solana-based meme token Water Coin on his Instagram account.

On social media, the Brazilian retired soccer star posted a story to his 76.6 million followers showing a photo of him with the Water Coin’s mascot peering over his shoulder. It also tagged the project’s Instagram account.

Following Ronaldinho’s post, Water Coin’s price rose nearly 40% to $0.0012. The excitement didn’t last long, and at the time of publication, Water Coin’s price had levelled at around $0.00088, CoinMarketCap data shows.

Ronaldinho’s post follows that of another football legend, Lionel Messi.

Earlier this week, the Argentinian player promoted Water Coin on his Instagram Stories. Like Ronaldinho, Messi showed a picture of himself with the meme coin’s mascot peeking over his shoulder, along with tagging the project’s Instagram account.

Notably, one of the exchanges listing the Water token is Bitget, a company Messi has been partnered with since 2022.

Facing Criticism

According to its website, the charity token “aims to have a net-positive impact on [the] real world with the help of charity.” However, it doesn’t state how it will achieve this.

Despite the promotion from several well-known soccer players, some have met their posts with criticism.

Taking to X, analyst @ericonomics wrote of Messi that this was the “third token scam” that he’s promoted, adding “this time it’s Water. They will probably rug soon so make yourself a favour and don’t buy that sh*t.”

“The first one was Leafty, which was a rug (they removed the liquidity like 5 days later lol),” @ericonomics wrote. “The second one was PLANET, a slow rug that is like -90% since that promotion.”

Similarly, this isn’t the first time Ronaldinho has been connected with a controversial crypto project. Last August, he appeared before a Brazilian parliamentary committee inquiry over an alleged $61m crypto pyramid scheme that used his likeness without permission.

The scheme, “18kRonaldinho, used images of the soccer star in its marketing while promising investors a 2% daily return. During the inquiry, Ronaldinho denied any involvement, claiming he never partnered with the company.

The post Ronaldinho Becomes Latest to Promote Solana Meme Token on Instagram appeared first on CoinJournal.

• CertiK has revealed that two CoinStats exploit wallets have moved 311 ETH ($959K) to Tornado Cash.
• CoinStats breach on June 22 affected 1,590 wallets after AWS was hacked via social engineering.
• CoinStats resumed full operations on July 3 amid intense investigations.

Blockchain security firm CertiK has revealed that two wallets linked to the recent CoinStats exploit transferred 311 ETH, worth about $959,000, to Tornado Cash.

The security breach, which occurred on June 22, affected 1,590 crypto wallets managed by CoinStats resulting in the company promptly suspending user activity and shutting down the application to isolate the security incident.

CoinStats still conducting investigations into the incident

Since the breach, CoinStats has been taking significant steps to secure its platform.

On June 30, the company announced that it was optimizing its transaction database and transitioning to a new platform aimed at enhancing efficiency and reliability. It also said that upgrades and audits were underway to bolster the security of their systems.

Quick updates! Currently, we’re focused on:

– Optimizing our transaction database and migrating to a more robust platform for improved efficiency and reliability.

– Enhancing our security systems with upgrades and audits to ensure top-notch data protection.

— CoinStats (@CoinStats) June 30, 2024

After a period of intense scrutiny and effort to address the vulnerabilities, the company on July 3 announced that its app had recovered full functionality.

All functionalities on CoinStats are now fully recovered and functional.

Thank you for your patience and support! 🤝

— CoinStats (@CoinStats) July 3, 2024

The most recent update from CoinStats, as of today, stated that the investigation is ongoing.

The firm is committed to ensuring that its new infrastructure is robust and secure, promising to share additional information, including victim support measures, soon.

Movement of funds to Tornado Cash raises alarm

Even as the investigations continue, the movement of 311 ETH by the exploiters to Tornado Cash by the exploited wallets has raised alarm bells.

Tornado Cash, a cryptocurrency mixing protocol, anonymizes transactions by combining identifiable funds with many others, making it a favored tool for laundering illicit gains.

CertiK’s report highlighted that one wallet transferred 211 ETH, while another sent 100 ETH to the mixer.

The community has reacted strongly to the breach, with some users reporting significant losses. One wallet allegedly lost almost $9 million in Maker (MKR), underscoring the severe impact of the exploit.

However, CoinStats has been transparent in its communication, detailing the steps taken to mitigate the attack and improve security.

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