Best crypto memes of the day – August 15th

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• Russian Ruble seeing mild gains below $94 despite US dollar’s retreat

  TL;DR Breakdown The Russian Ruble (USD/RUB) is seeing mild upward movement around the 93.80 mark. The Ruble’s inability to capitalize on the US Dollar’s decline reflects traders’ concerns about potential economic challenges for the oil-rich nation. Description The Russian Ruble (USD/RUB) is seeing mild upward movement around the 93.80 mark, despite the US Dollar facing difficulties as Tuesday’s European session began.  Consequently, the Russian Ruble (RUB) is experiencing a second consecutive day of decline, reversing the gains observed last week. This shift can be attributed primarily to the unexpected interest rate increase … Read more The Russian Ruble (USD/RUB) is seeing mild upward movement around the 93.80 mark, despite the US Dollar facing difficulties as Tuesday’s European session began.  Consequently, the Russian Ruble (RUB) is experiencing a second consecutive day of decline, reversing the gains observed last week. This shift can be attributed primarily to the unexpected interest rate increase by the Central Bank of the Russian Federation (CBR). Notably, the pair’s relatively stronger performance indicates a higher uncertainty level in the Ruble than the US Dollar. The sentiment is…

  Article 2023年8月23日

• Sleepdropping scam costs Ethereum users $11.5 million

  TL;DR Breakdown Cybersecurity firms Forta Network and Blockfence reveal a sleepdropping scam costing Ethereum users $11.5 million since December 2022. Fraudulent ERC-1155 tokens, disguised as legitimate NFTs, serve as the primary tool for the scam, impacting over 500,000 addresses. Scammers employ a fake Lido NFT token as bait, leading victims into secondary interactions where the actual financial harm occurs. Description Cybersecurity firms Forta Network and Blockfence have disclosed how a sophisticated scam, coined “sleepdropping,” has cost Ethereum users $11.5 million since its first detection in December 2022. The insidious operation centers on ERC-1155 tokens, often disguised as legitimate NFTs. Alarmingly, these fraudulent airdrops have reached over 500,000 addresses. The tactics deployed by the scammers expose … Read more Cybersecurity firms Forta Network and Blockfence have disclosed how a sophisticated scam, coined “sleepdropping,” has cost Ethereum users $11.5 million since its first detection in December 2022. The insidious operation centers on ERC-1155 tokens, often disguised as legitimate NFTs. Alarmingly, these fraudulent airdrops have reached over 500,000 addresses. The tactics deployed by the scammers expose the Achilles’ heel of smart contracts, even…

  Article 2023年9月16日

• Singapore’s central bank imposes 9-year ban on Three Arrows founders

  TL;DR Breakdown Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of 3AC. The prohibition orders prohibit Davies and Su from engaging in regulated activities in Singapore.  The enforcement action against Su and Davies comes amidst a broader global effort to regulate the cryptocurrency and digital asset space. Description Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of the crypto hedge fund Three Arrows Capital (3AC). The prohibition orders come in response to alleged violations of the country’s securities laws by the duo and their now-bankrupt fund. The prohibition orders, which … Read more Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of the crypto hedge fund Three Arrows Capital (3AC). The prohibition orders come in response to alleged violations of the country’s securities laws by the duo and their now-bankrupt fund. The prohibition orders, which took effect on September 13, prohibit…

  Article 2023年9月14日

• US Senator blames the crypto collapse on bank executives

  TL;DR Breakdown US Senator Cynthia Lummis criticizes the statement of a former Signature Bank executive. US Congress wants to abolish excessive executive compensation. US Senator Cynthia Lummis has faulted the statement of a former Signature Bank executive at Congress. Scott Shay has come under scrutiny for allegedly attempting to shift blame onto the cryptocurrency industry while personally benefiting from hefty bonuses and stock options. During a Senate Banking Committee hearing on May 16, Senator Cynthia Lummis criticized Shay’s prepared statement regarding the bank’s collapse. Senator Lummis pick holes in his statement Scott Shay acknowledged that Signature Bank began accepting deposits from digital asset businesses in 2018 but significantly reduced its exposure to the industry in 2022 due to volatility. He claimed that the bank’s seizure by regulators was triggered by the failure of a bank closely associated with the digital asset sector, leading to the withdrawal of $16 billion from Signature Bank. Senator Lummis accused Shay of deflecting blame onto cryptocurrency depositors and regulators while evading personal responsibility. Shay denied placing blame on digital assets, but Lummis pointed out that…

  Article 2023年5月18日

• Why is Bitcoin down today? BTC trades below $28K

  TL;DR Breakdown Bitcoin’s price drops to $27,900 amid this week’s  FOMC minutes and expected Fed rate hikes. BTC hits 2-month lows as traditional markets grapple with the SPX and technology sectors declining, 10-year interest rates rising and the dollar gaining strength, and China’s credit and economic data deteriorating. The approval of BTC ETFs casts a lot between crypto bears and bulls. Description Bitcoin closed below $29,000 for the first time in 56 days on August 16. As the likely cause, analysts immediately pointed to this week’s FOMC minutes, which expressed concerns about inflation and the need to raise interest rates. Despite the immediate causes of the decline, Friday’s expiration of Bitcoin options worth $580 million has favored … Read more Bitcoin closed below $29,000 for the first time in 56 days on August 16. As the likely cause, analysts immediately pointed to this week’s FOMC minutes, which expressed concerns about inflation and the need to raise interest rates. Despite the immediate causes of the decline, Friday’s expiration of Bitcoin options worth $580 million has favored bear traders. On August 18,…

  Article 2023年8月18日