Catch up on today’s cryptocurrency news, from Bitcoin trends to DeFi, NFTs, Web3, blockchain updates, and the latest in crypto regulation.
The Cardano Foundation’s X account was hacked today in the crypto space.
El Salvador’s president has stated that the country is sitting on unrealized gains of over $330 million on its Bitcoin investment.
Additionally, several blockchain industry executives have expressed their frustration with the impending renomination date of United States Securities and Exchange Commission Commissioner Caroline Crenshaw.
Cardano Foundation X Account Was Compromised
On December 8, a threat actor posted illicit links on the Cardano Foundation’s social media page, resulting in the hacking of the X account.
The perpetrator initially published a post that promoted a fraudulent token named “ADAsol,” which amassed a trading volume of approximately $500,000 before collapsing.
After promoting the phony token, the hacker released a second fraudulent post in which he claimed that the Cardano Foundation would cease to support the ADA due to scrutiny from the United States Securities and Exchange Commission (SEC).
The Cardano Foundation is currently regaining control of the social media account, as both posts have been removed.
Nevertheless, it is recommended that users refrain from interacting with any links from the Cardano Foundation X page and do not interact with the account until the issue is completely resolved.
Bitcoin’s Value In El Salvador Surpasses $300 million
Nayib Bukele, the President of Salvador, emphasized the country’s unrealized benefits from its Bitcoin investments on social media after the cryptocurrency surpassed $100,000 for the first time.
Bitcoin achieved $100,000 for the first time on December 5, which elicited jubilation within the blockchain community.
Autism Capital, a crypto-focused account on X, requested that Bukele reveal El Salvador’s Bitcoin portfolio on the same day to “dunk on the haters.”
Bukele responded by publishing the country’s BTC holdings on X.
Bukele’s most recent update indicates that the nation has allocated nearly $270 million to Bitcoin since its initial adoption of the cryptocurrency.
The portfolio indicates that no Bitcoin has been sold, and the unrealized gains have now surpassed $333 million.
Cryptocurrency Business Is Afraid Of “Vehemently Anti-Crypto” Caroline Crenshaw’s SEC Vote
On December 11, the US Senate Banking Committee will determine whether to renominate Caroline Crenshaw, a prominent crypto skeptic, as SEC Commissioner.
The potential for her reelection has elicited frustration from numerous industry executives.
In January, Crenshaw was one of two SEC commissioners who voted against the approval of spot Bitcoin exchange-traded funds (ETFs).
“Caroline Crenshaw is opposed to cryptography.” She was even embarrassed to express her opposition to Bitcoin ETFs.
“The SEC must undergo a transformation,” stated Emilie Choi, the president and chief operating officer of Coinbase, in a post on December 7 on X.
Paradigm government affairs vice president Alexander Grieve, a blockchain investment firm, stated that it was “one last “gift” for crypto on the way out the door, as Senate Banking Chair Sherrod Brown is attempting to ram through the renomination of anti-crypto SEC commissioner Caroline Crenshaw.”
In a post on Dec. 7, Bloomberg ETF analyst James Seyffart stated that Crenshaw was not only “an ally” to SEC chief and crypto skeptic Gary Gensler, but was even more “vehemently anti-crypto” than Gensler himself on X.
Crenshaw, who was appointed as an SEC commissioner in August 2020, declared that the SEC’s decision to authorize Bitcoin ETFs in the United States on January 10 was “unsound and ahistorical.”
