Day: March 4, 2025

SSV Labs proposes decentralized staking module for Lido on Ethereum

admin

Update March 4, 2:40 pm UTC): This article has been updated to include information on Clusterform’s role in filing the proposal. Clusterform, an independent subsidiary of SSV Labs, has proposed a new permissionless staking module for Lido, aiming to expand the scope of node operators who can use the Lido protocol in a scalable and decentralized manner. The firm proposed a permissionless staking module that leverages SSV Network’s Distributed Validator Technology (DVT) to integrate node operators (NOs) into the operator set of Lido on Ethereum. If approved, the proposal would…

Turkish digital bank Bankpozitif to debut crypto custody with Taurus

admin

Turkish digital bank BankPozitif is set to launch cryptocurrency custody services in collaboration with Swiss crypto platform Taurus, making it the latest financial institution in Turkey to embrace digital assets. On March 4, BankPozitif announced a strategic partnership with Taurus, enabling its institutional clients to store crypto assets with the bank. The service is expected to be rolled out by June and will initially feature support for the top five crypto assets by market cap, including Bitcoin (BTC), Ether (BTC), Tether USDt (USDT), XRP (XRP) and Solana (SOL), a spokesperson…

Bybit hacker launders 100% of stolen $1.4B crypto in 10 days

admin

The Bybit exploiter has laundered 100% of the stolen funds after staging the biggest hack in crypto history, but some of the loot may still be recoverable by blockchain security experts. On Feb. 21, Bybit was hacked for over $1.4 billion worth of liquid-staked Ether (STETH), Mantle Staked ETH (mETH) and other ERC-20 tokens, resulting in the largest crypto theft in history. The hacker has since moved all 500,000 stolen Ether (ETH), now valued at about $1.04 billion, primarily through the decentralized crosschain protocol THORChain, blockchain security firm Lookonchain reported…

Why is the Ripple SEC case still ongoing amid a sea of resolutions?

admin

In recent weeks, the Securities and Exchange Commission (SEC) has been on a dismissal spree. First Coinbase, then Consensys, Gemini and OpenSea. Yesterday, it was Kraken. One by one, virtually every high-profile enforcement action of the era of former SEC chair Gary Gensler has fallen. This signals to the cryptocurrency industry that US President Donald Trump’s administration will not govern like the last. Indeed, Commissioner Hester Peirce, who is currently serving as head of the SEC’s Crypto Task Force, released a public statement explaining that the SEC would not be…

THORChain generates $5M in fees, $5.4B in volume since Bybit hack

admin

THORChain generated more than $5 million in total revenue after the protocol’s asset swap volume hit new record highs, driven by the exploiter behind the $1.4 billion Bybit hack. Centralized crypto exchange Bybit was hacked for over $1.4 billion worth of crypto on Feb. 21 in the largest hack in crypto history. The North Korean state-affiliated Lazarus Group, identified as the main suspect by blockchain security firms, continued laundering the stolen funds, using crosschain asset swap protocol THORChain for a significant part of these transfers. Since the exploit, THORChain has…

Israel releases preliminary CBDC design for digital shekel

admin

The Bank of Israel released a preliminary design proposal for a digital shekel (DS), Israel’s potential central bank digital currency (CBDC), despite no solid intent as yet for an official launch. On March 3, the Bank of Israel’s Steering Committee issued an initial design for an in-house CBDC — outlining its supporting ecosystem, functionality, technical design, regulatory considerations and next steps. The central bank’s committee had previously identified six possible motivations for issuing a digital shekel, which included creating an alternative payment system and infrastructure, lowering costs, improving privacy and…

FTX and Alameda wallets unstake $431M in SOL

admin

Wallets belonging to the defunct crypto exchange FTX and bankrupt trading firm Alameda Research unstaked over 3 million Solana tokens, its largest SOL unlock since it started selling off company tokens in November 2023. On March 4, blockchain analytics firm Lookonchain flagged FTX and Alameda’s wallets unstaking 3.03 million Solana (SOL). At the time of the unlock, the tokens were worth around $431 million.  Since unlocking staked SOL, the bankrupt crypto firms have deposited about 25,000 SOL worth roughly $3.3 million at Binance.  The most recent unlock is FTX and…

IMF deal to ban public sector ‘Bitcoin accumulation’ in El Salvador

admin

The International Monetary Fund (IMF) is looking to tighten restrictions on Bitcoin purchases by El Salvador’s public sector as part of an extended $1.4 billion funding arrangement with the country. On March 3, the IMF issued a new request for an extended arrangement under its fund facility to El Salvador, filing several new documents, including a staff statement update and a statement by the executive director for El Salvador. The technical memorandum of understanding mentioned a condition of “no voluntary accumulation of BTC by the public sector in El Salvador.”…

How to build a ChatGPT-powered AI trading bot: A step-by-step guide

admin

Key takeaways AI trading bots analyze data and execute trades instantly, outperforming manual trading. ChatGPT-powered bots use NLP and ML to factor in sentiment, news and technical indicators. A clear strategy is key. Trend following, arbitrage or sentiment-based trading boosts accuracy. Bots continuously learn and adapt, refining strategies and optimizing risk management. Backtesting and monitoring ensure profitability, minimizing risk in changing market conditions.  The days of manually watching charts while waiting for the perfect entry are fading fast. Markets react in milliseconds — by the time a trader spots a…

20% of $1.4B stolen funds ‘gone dark’

admin

Bybit CEO Ben Zhou confirmed that $280 million of the $1.4 billion stolen from the exchange has been laundered and is no longer traceable. Still, about $1.07 billion remains trackable, allowing investigators to continue their efforts to recover the funds. On March 4, Zhou provided an update on the movement of 500,000 Ether (ETH) stolen in the February hack and the ongoing efforts to stop the bad actors from running away with the loot. “Total hacked funds of USD 1.4bn around 500k ETH, 77% are still traceable, 20% has gone…