According to Pascal Gauthier, CEO of Ledger, a cryptocurrency hardware wallet company, the recent hack of the most important digital currency exchange, Binance, has led to an increase in sales of his company's products. It can be inferred that this increase in sales is due to investors' fear for the safety of their funds. The CEO reported on the phenomenon at a recent Atomic Swap conference in New York. While discussing the future of money and the importance of security in the cryptocurrency space, he admitted that he has seen an increase in sales of his products. Gauthier said specifically: "Binance was hacked, and the day Binance was hacked, our sales doubled." Attack on Binance Binance, which was recently hacked, lost about $40 million in BTC (over 7,000 BTC was stolen). The reasons? Hackers reportedly exploited the exchange's API, 2FA, and withdrawal validation areas. The platform has since made "significant changes" to these areas. While this showed the weakness of the cryptocurrency market, Gauthier on the aforementioned panel added that Ledger believes cryptocurrencies are a "great technology." However, like any technological innovation, they have weaknesses, in this case concerning the security of "private keys". He also mentioned that the hacking of Binance is a sign that the industry is still in its early stages. He added that he is confident that the security of the market will eventually improve significantly, while he himself is "very excited about building a security layer for the industry." Ledger Cryptocurrency hardware wallet maker Ledger received $2.9 million from Samsung earlier this year for further development. The company keeps stressing that it is a big challenge for it to deliver such devices to the market. It has also recently started shipping its latest products, the Nano X, to customers. The hardware, which was previously scheduled for release in March, is coming to the market late due to technological issues. Ledger Nano X is a hardware wallet with Bluetooth support, display and more secure protocol. Are you interested in purchasing the Ledger Nano X secure hardware wallet? You can do so at the manufacturer's official store, at: https://shop.ledger.com/products/ledger-nano-x?r=24d5cb56c791 Binance quickly recovered from the earlier attack. It also returned lost funds to customers, but on Tuesday urged users to read and follow a list of 14 security measures to protect coins on the exchange. Tags Binance cryptocurrency exchanges Ledger bitcoin wallet
Thursday, May 27, 2021
Attack on Binance results in increased sales of hardware wallets
Mike Novogratz's company lost more than $272 million
Cryptocurrency investment company Galaxy Digital reported a net loss of as much as 272.7 million for 2018. The information was officially announced on April 29 in a special press release. According to The Block portal, the company's CEO Michael Novogratz told the media that during the last quarter of last year, he felt the cryptocurrency market "like watching Game of Thrones last night." With this, he referred to the popular fantasy series, which became famous for, among other things, the fact that in its scenario the corpse is strewn as often and thickly as in Shakespeare's bloodiest dramas. And indeed they did. The end of 2018 was a veritable slaughter on cryptocurrency exchanges. The aftermath was poor financial results for companies like Galaxy Digital and various ICOs. Novogratz told shareholders during a conference call he organized that: "The results that year were by no means great..." One would like to say that as CEO he passed his diplomacy course with honors.... Will it get better? In revealing the results, Novogratz said that the start of 2019 "saw a significant uptick in activity" and acknowledged that this uptick in digital asset markets helped Galaxy Digital finally turn a coveted profit. The fact that the previous year was a weak one for his venture was already known much earlier. In late November, the company confirmed that it lost $136 million in the first nine months of 2018. What can be chilling, however, is to see that the losses even doubled in the last three months of the year. Bull No. 1 Nevertheless, Novogratz remains optimistic. When we were fresh off the bursting of the last bubble, he believed the stock price would rebound soon. It didn't. Bitcoin went down, down and down. Despite this, the Galaxy Digital chief still believed (or at least said he did) in the long-term potential of that falling anvil that was BTC at the time. In February, he already predicted that the cryptocurrency would become digital gold and its exchange rate would reach $8,000 in the medium term. He probably still thinks so, because in January this former Goldman Sachs partner increased his stake in Galaxy Digital to 79.3%. Tags downturn bitcoin price Galaxy Digital Mike Novogratz losses
Kraken CEO Jesse Powell says BTC is on track to reach the $1 million price. This is unwittingly helped by governments that continue to pursue loose monetary policies. Jesse Powell: BTC will cost $1 million In a new interview for the H3 podcast, the Kraken chief believes that there is still time to buy Bitcoin "cheap". In his opinion, in a few years we will be paying as much as $1 million for 1 BTC. - It's still early days. I think Bitcoin will easily reach $500,000 in the next few years. Look at how long it takes to print money. We will easily reach the $1 million ceiling for Bitcoin," he said. However, he suggested that every investor should approach this with some distance. -Take it easy... Invest 1-10 percent of your portfolio... I wouldn't say: go all in. Don't risk the money you have for rent, don't risk the funds you have for food. Only that if you have an investment portfolio, you should necessarily have some bitcoin in there," he explained. Other cryptocurrencies When asked about the thousands of other cryptocurrencies that are on the market, Powell says the average investor might look at it like a stock market, where it's often best to stick with the biggest, most well-known brands and names. - There are thousands of stocks you can buy. (...) Some are really strong, well-known brands, like Apple, Google and Facebook. But I think if you don't really know what to do, because you're not a Wall Street super analyst, don't buy niche stocks. Stick with the best ones (...), maybe the ones you're associated with. You use Apple devices every day, so you probably think Apple is a pretty good company. I would say do that with cryptocurrencies as well. Don't pay attention to all the new stuff that keeps coming out," he advised. In his opinion, it is best to buy BTC and ETH. - Just stick with Bitcoin and Ether. If you want to feel safe, I think Bitcoin and Ether are super safe things. Everything else becomes more exotic and [in theory] you get higher returns, but with more risk," he said. Tags btc btc at usd 1 million bitcoin price btc price jesse powell Kraken bitcoin exchange rate btc exchange rate
Aphex Twin has released its own NFT token
The fashion for NFT continues. A well-known musician from the electronic scene, Aphex Twin, surprised his fans. On Saturday night he released his own NFT. The token appeared on a special platform where auctions of works of individual artists are held.
Aphex Twin enters the NFT market
Aphex Twin (Richard David James, owner) is a British musician, composer and multi-instrumentalist, as well as a music producer. He is considered to be one of the most influential artists on the contemporary electronic music scene.
Now the artist has decided to follow in the footsteps of rockers Kings of Leon and has also issued his tokens. The artwork "/ afx \ / weirdcore \
45,000 bitcoins were withdrawn from BitMEX
Gemini, Binance, OKEx and Huobi seem to be the biggest beneficiaries of BitMEX's problems so far. Customers of the latter platform are moving their funds to these exchanges. Bitmex loses Bitcoins More than 45,000 bitcoins have been withdrawn from BitMEX. This is the result of the latest scandal concerning this exchange. The US Department of Justice and the Commodity Futures Trading Commission (CFTC) have filed charges against the platform and its owners. Arthur Hayes, Ben Delo and Samuel Reedem are accused of running an unregistered trading platform and violating CFTC regulations, including anti-money laundering, KYC and AML. We have written more on this topic here. The market reacted to this news with a sharp drop in the prices of leading cryptocurrencies. By the way, this is not the first time that BitMEX contributed to the correction. The exchange began to lose the confidence of its customers already after the crash that occurred on "Black Thursday". Back then, it prevented them from trading. As a result, users withdrew more than 100,000 Bitcoins from it within six months. 45,000 BTC outflow Now the exodus continues. According to Crystal Blockchain, as many as 45,000 Bitcoins were taken off the exchange in less than 48 hours. Interestingly, Gemini and Binance seem to be the biggest beneficiaries of BitMEX's problems. OKEx and Huobi are also benefiting. Over 20,000 BTC has now been transferred from BitMex to these four exchanges. Investors are probably worried that the BitMEX story could end tragically: either the actual arrest of the platform's founders and the seizure of the funds on the platform by the services, or the exchange's website will simply disappear from the web. Let us add, however, that for now there is no indication of this. BTC withdrawals are working smoothly. The same happens on the trading field. And what consequences could the company face? Lance Morginn, CEO of the Blockchain Intelligence Group and a former special agent with the Department of Homeland Security, told Cointelegraph that the most likely outcome will be fines and a promise by BitMEX management that the company will not engage in illegal activities in the future. So maybe the case will end not with a storm, but a light drizzle. Tags bitmex affair bitmex bitmex problems
AIBC UAE - the cryptocurrency and blockchain industry conference on May 25 in Dubai!
A good proof that the world is slowly recovering from the pandemic crisis is the fact that the conference organizers are already inviting for the next editions of the industry events. The organizers of AIBC Malta Blockchain Summit have decided to hold the upcoming event in a new location. Representatives of cryptocurrency, blockchain, and new technology companies will meet on May 25 in Dubai. The location itself is already impressive, as the event will take place at the InterContinental Festival Arena Dubai, a luxury exhibition hall located in the heart of the financial and business hub of the United Arab Emirates. AIBC UAE, back in style Since the beginning of 2020, due to the Covid pandemic, many industry events have been cancelled, including AIBC Europe, which was to take place in Malta. Everything seems to indicate that the end of May will see the first event in many months, during which creators of new technologies and innovations, investors and enthusiasts of the cryptocurrency and blockchain market will gather in one place. The originator of the AIBC conference, Eman Pulis, also spoke about the idea behind him and his team. We always envisioned AIBC as a meeting place for people from all over the world. Dubai gives us the opportunity to encourage giants from the West and the East to talk together, get to know each other and start collaborating. That's the idea behind AIBC - creating an environment where networking comes easily. Everyone will go home with a smile on their face and the event will be held with all COVID protection measures in place! - he explained. Dubai the city of new technologies Dubai was chosen not by chance. It's all about the city's specific, central geographical location. It is considered to be the capital of modern technologies. The local authorities have made Dubai a sort of constantly developing "incubator of innovations and emerging technologies". - the organizers add. Marwan Alzarouni, partner at Accelliance and CEO of Dubai Blockchain Center, is adamant that "the UAE is open for business." The Dubai Blockchain Centre continues to play a key role in the integration of the blockchain ecosystem and both locally and globally. Through numerous events, we aim to encourage people to attend fruitful events and conferences with our partners, he said. Irina Heaver, a lawyer specializing in fintech and cryptocurrencies, is excited about the event being held in Dubai. I am absolutely thrilled that AIBC is moving to Dubai. This will be a huge boost for our growing cryptocurrency and blockchain community in the UAE. Dubai has proven time and again that it is a great place to live and do business," she says. COVID-19 is not scary for us! Probably many people are afraid of international flights during the coronavirus pandemic. This is understandable. However, organizers say Dubai is doing exceptionally well in this area, too. There is also an ongoing vaccination program throughout the country. On top of that, there are strict border controls. Regardless, the event will observe regulations regarding the wearing of masks and temperature measurement. All in a bid to ensure complete safety for the participants! Today, the United Arab Emirates can boast a very high rate of vaccinated citizens. As many as 19.9 people per 100 have already taken the vaccine there. In this respect, the country is second only to Israel (30.1), Bahrain (8.4), Great Britain (6.7) and the United States (3.7). Traveling to Dubai should also not be a problem for anyone. Details and registration at the event: https://events.aibc.world/aibc-dubai. Tags AIBC uae bitcoin conference blockchain event Dubai events conferences cryptocurrencies event cryptocurrencies conference events