Category: crypto
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Congressman French Hill back’s Trump’s Bitcoin reserve order, calls for federal crypto legislation
House Financial Services Committee Chairman French Hill expressed support for President Trump’s executive order to establish a Strategic Bitcoin Reserve and digital asset stockpile. He emphasized the need for clear regulatory frameworks and legislative action on stablecoin regulations. The Treasury Department will manage the Bitcoin reserve and digital asset stockpile, with plans for expansion without…
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David Sacks says market ‘reading too much’ into Trump mentioning altcoins
White House “Crypto Czar” David Sacks stated that the market is overanalyzing President Trump’s mention of Solana, Cardano, and XRP for the US Digital Asset Stockpile. The government will audit its crypto holdings and move all altcoins except Bitcoin to the Stockpile for safekeeping. Staking and rebalancing will be managed by the US Treasury Secretary.
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Trump declares end to ‘war on crypto,’ vows to propel America to Bitcoin supremacy
President Donald Trump reaffirmed his commitment to supporting cryptocurrency and making America the “Bitcoin superpower” at the first White House crypto summit on March 7. He pledged to reverse restrictive policies, establish a Bitcoin reserve, and position the US as a global leader in digital assets. Trump criticized the Biden administration for waging a “war…
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Ripple co-founder’s $150M hack tied to LastPass password vault breach
Ripple co-founder Chris Larsen lost $150 million in a hack due to private keys stored in LastPass, compromised in 2022. LastPass suffered data breaches in August and November. FBI is investigating the breach. Attackers accessed multiple victims’ accounts. Larsen disclosed the hack in 2024. Stolen funds were laundered through various exchanges.
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Bitcoin outlook brightens as whales accumulate and Binance stablecoin reserves surge
Recent on-chain data indicates that Bitcoin whales are shifting from distribution to accumulation, with stablecoin reserves on Binance reaching an all-time high. This suggests positive momentum for BTC, potentially leading to bullish market movements. However, convergence in Short-Term Holder Realized Price levels indicates a lack of clear price direction.
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US, EU authorities dismantle Garantex in money laundering crackdown
US and European law enforcement agencies disrupted Garantex, a Russia-linked crypto exchange accused of laundering billions for cybercriminals. Authorities seized domains and froze $26 million in assets, charging two individuals with money laundering conspiracy. The exchange allegedly processed $96 billion in illegal transactions and evaded sanctions by moving crypto holdings daily.
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US urged to sell government’s 1.4 billion lbs of cheese reserves to buy Bitcoin
The Bitcoin Policy Institute proposed selling off the US Strategic Cheese Reserve to fund Bitcoin purchases, believing Bitcoin is a better asset to hold. This proposal follows President Trump’s Strategic Bitcoin Reserve initiative, aiming to expand US Bitcoin reserves without additional costs to taxpayers. Various methods for funding additional Bitcoin acquisitions were suggested.
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New York bill aims to jail crypto fraudsters for up to 20 years
New York lawmakers have introduced a bill, AO6515, to crack down on crypto fraud by criminalizing deceptive practices like rug pulls and private key fraud. The bill aims to provide stronger oversight in the crypto sector and impose legal consequences on developers and industry participants engaging in misleading behavior. Penalties include fines of up to…
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Elizabeth Warren questions Crypto Czar David Sacks’ cryptocurrency profits amid market swings
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1inch hit by $5 million exploit in outdated smart contract
Blockchain security firm SlowMist reported that DeFi aggregator 1inch was exploited, resulting in over $5 million in losses. Attackers drained USDC and WETH from outdated smart contracts. 1inch confirmed the breach and is assisting affected resolvers. Despite setbacks, 1inch remains a major player in DeFi, facilitating a significant DEX volume.