Category: Crypto Flash News

Coinbase begins $150M debt buyback at 36% discount

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Cryptocurrency exchange Coinbase will begin buying back up to $150 million of its 2031 senior notes for 64.5 cents on the dollar, a discount of 35.5%. According to the Aug. 7 announcement, the tender offer will last until Sept. 1, with an early premium of three cents on the dollar on top of the regular purchase price. The 2031 senior notes have a coupon rate of 3.625% per annum and a total principal balance of $1 billion. Last month, the exchange redeemed $65 million in convertible notes at a discount…

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CoinsPaid claims North Korean hacking group used fake job interview to steal $37M

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Estonia-based cryptocurrency payments firm CoinsPaid suspects North Korean hackers with the Lazarus Group gained access to its systems through fake recruiters targeting employees. In an Aug. 7 blog post, CoinsPaid said an exploit which allowed hackers to steal more than $37 million on July 22 was the result of tricking one employee into downloading software during a fake job interview, having them believe they were completing a technical task. The firm reported that the worker responded to a job offer put out by hackers and downloaded the malicious code, allowing…

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OPNX exchange bids for crypto lender Hodlnaut in Singapore

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Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company. The deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut to partially cover creditors’ payout and outstanding claims. According to CoinMarketCap, FLEX is trading at $7.16 as of this writing, bringing the capital injection to nearly $215 million. Hodlnaut’s restructuring is being overseen by a Singapore court. If approved…

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What is Hooked Protocol, and how does it work?

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Three main elements in the Hooked ecosystem are gamified learning, a mechanism for incentives and an integrated infrastructure of businesses. Hooked Protocol follows a three-pronged approach to incentivize Web3 adoption: Gamified learning Hooked Protocol has adopted an immersive and inquisitive Web3 education methodology. Hooked Academy Sensei enables users to converse with virtual tutors integrated with ChatGPT. There are virtual tutors with special characters who have the capability to interact like humans. Hooked Academy, meanwhile, provides 30-second meme videos to help users learn. These videos with artificial intelligence-powered characters make the…

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‘The SEC has violated due process’ — Coinbase CLO on motion to dismiss lawsuit

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United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) in June. In an Aug. 4 filing with U.S. District Court for the Southern District of New York, lawyers for Coinbase filed a motion for judgment, claiming the SEC had “violated due process, abused its discretion, and abandoned its own earlier interpretations of the securities laws” in asserting certain regulatory authority over the crypto exchange. The legal team cited precedent from the SEC v. Ripple case, in which a…

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BTC price risks new sub-$29K dip as Binance fears test Bitcoin bulls

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Bitcoin (BTC) dipped below $29,000 on Aug. 3 as market concerns over largest global exchange Binance reignited BTC price downside. BTC/USD 1-hour chart. Source: TradingView BTC price analysis “expects” support retest Data from Cointelegraph Markets Pro and TradingView showed BTC price action heading lower before a modest comeback into the Wall Street open. Rumors over new United States legal action against Binance made for a disappointing 24 hours for Bitcoin bulls after a brief trip above $30,000. With the trading range still firmly in place, monitoring resource Material Indicators forecast…

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Litecoin halving completes as LTC sees increased payments adoption

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The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block.  On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years’ time. Litecoin founder Charlie Lee commented on the discrepancies between the different halving countdown timers, suggesting that the NiceHash one was the most accurate. However, all of them agreed on an Aug. 2 date. This…

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Bankruptcy judge signs off on order allowing Terraform Labs to subpoena FTX entities

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A judge in the bankruptcy case for defunct crypto exchange FTX has issued an order allowing Terraform Labs to subpoena information that could be used in its case brought by the United States Securities and Exchange Commission (SEC). In a July 31 filing in U.S. Bankruptcy Court for the District of Delaware, Judge John Dorsey said Terraform Labs was permitted to serve FTX Trading and FTX US with subpoenas aimed at gathering evidence the firm could use in its defense from allegations of fraud by the SEC. The crypto firm…

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Bitcoin volume hits lowest since early 2021 amid fear $25K may return

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Bitcoin (BTC) stayed static at the July 31 Wall Street open as analysis warned that the net was closing in for bulls. BTC/USD 1-hour chart. Source: TradingView $28,300 “last line of defence” for BTC price Data from Cointelegraph Markets Pro and TradingView followed the BTC price as it greeted the last trading day of July with more sideways behavior. Much like the weekend and the week prior, nothing seemed able to effect a major trend change, while a brief spurt above $29,500 after the weekly close provided the most interesting…

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Bitcoin due key MACD bull flag repeat as BTC price freezes at $29.3K

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Bitcoin (BTC) further reduced volatility ahead of the July 30 weekly close as traders eyed an exciting long-term bull signal. BTC/USD 1-hour chart. Source: TradingView BTC price makes weekend “slower than ever” Data from Cointelegraph Markets Pro and TradingView followed sideways BTC price action over the weekend, with BTC/USD sticking in a tiny $150 range. #Bitcoin Trading within a $10 range for the past 1.5 hours. Weekends are slower than ever lately. pic.twitter.com/FmZLL82wrk — Daan Crypto Trades (@DaanCrypto) July 29, 2023 Conditions throughout the week had remained calm, despite a…

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