Tag: funds

Proposed South Carolina Bill Lets State Treasurer Invest 10% Of State Funds In Bitcoin

coiner

Yesterday, Rep. Jordan Pace reintroduced Bill H. 4256, The “Strategic Digital Assets Reserve Act Of South Carolina”, into South Carolina’s House of Representatives. Highlights from the bill include the fact that it enables the State Treasurer to invest up to 10% of the funds under the state’s management into digital assets, including bitcoin, and that the state’s Strategic Digital Assets Reserve can include up to one million bitcoin. The bill also states that the reason for establishing such a reserve is because “inflation has eroded the purchasing power of assets…

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Inflows into crypto investment funds rise as Bitcoin carries 99% of the load

coiner

Bitcoin continues to shoulder the market, as digital asset inflows saw positive movement for the fourth consecutive week, with $137 million incoming.  According to CoinShares, this brings the four-week total to $742 million — correcting the nine weeks’ worth of outflows before the streak began and marking the largest inflow run since the fourth quarter of 2021. The continuing positive momentum might be attributed to several factors, including a recent partial victory for the crypto community in the form of a legal decision in the Securities and Exchange Commission v.…

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How to use index funds and ETFs for passive crypto income

coiner

The key to gaining financial security and independence is to invest in passive income. Passive income is generated through investments that offer a consistent source of income with little continuing involvement, in contrast to active income, which necessitates constant effort and time. Passive income is especially valuable because it enables investors to amass wealth and live independently. Passive income investing, explained Investing in index funds and exchange-traded funds (ETFs) is a popular passive income strategy in the traditional financial market. Index funds are passively managed mutual funds that seek to…

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Arcadia Finance hacker used reentrancy exploit, team demands return of funds

coiner

The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “reenter” a contract or interrupt it during a multi-step process, preventing the process from being completed correctly. The team has sent a message to the attacker demanding the return of funds within 24 hours and threatening police action if the hacker fails to comply. Post Mortem of ongoing situation,…

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On-chain sleuth ZachXBT sued for libel after claiming plaintiff drained funds from project

coiner

Blockchain investigator ZachXBT has been sued for libel by one of the people he accused of fraud, according to a June 16 social media post. Jeffrey Huang, known as MachiBigBrother on Twitter, has accused ZachXBT of damaging his reputation through false allegations. MachiBigBrother also posted an announcement stating that he is suing the on-chain sleuth. A year ago, @zachxbt published a Medium article about me that damaged my reputation. Today, I have filed a defamation lawsuit against him in the United States District Court for the Western District of Texas.…

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Hotbit exchange halts operations, urges users to withdraw funds

coiner

Crypto exchange Hotbit announced that it would be halting operations as of May 22. The exchange asked its users to withdraw funds before June 21, at 4:00 am UTC. In an announcement, the exchange said that its operating conditions have deteriorated since a former member of its team was subjected to an investigation in August 2022. According to the exchange, the probe forced it to stop its business for weeks. In addition, Hotbit also cited various incidents within the crypto space as contributors to its decline. The exchange cited the FTX…

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