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The Hong Kong-based group documented its reproduction of the hack on its tech and security oriented blog, seeking insights into Web3’s attack surface spectrum. Amber Group has reproduced the recent Wintermute hack, the Hong Kong-based crypto finance service provider announced on its blog. The process was fast and simple, and used hardware easily accessible to consumers. Wintermute lost over $160 million in a private key hack on Sept. 20. Reproducing the hack can help “build a better understanding of the attack surface spectrum across Web3,” Amber Group said. It was only hours after the hack of UK-based crypto market maker Wintermute was revealed that researchers were able to pin the blame for it on the Profanity vanity address generator. One analyst suggested that the hack had been an inside job, but that conclusion was rejected by Wintermute and others. The Profanity vulnerability was already known before the Wintermute hack. classy — wishful cynic (@EvgenyGaevoy) Septembe

Majority of the top 100 DeFi tokens had a mixed week, with several tokens trading in green on weekly charts, with the total value locked seeing a minor increase of $4 billion. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. United States Federal Reserve chairman Jerome Powell has given his verdict on the evolution of the DeFi market, claiming there is a definite need for robust regulation before the nascent market could expand to retail. Maple Finance CEO believes that separating the risk from lending saved DeFi from the market crash. He added that crypto lending has operated as intended through the crypto winter because of the transparency. Members of the Ooki DAO are discussing various ways to respond to the recent lawsuit filed by the Commodity Futures Trading Commission. Another interesting turn of events from the DeFi ecosystem saw a Maximal Extr

Those who bought BTC between six and 18 months ago are losing out big, says the research, but now there is even more reason to buy their supply. Bitcoin's ( BTC ) spot trading below $20,000 is seeing a new “capitulation” event encompassing an entire year’s worth of buyers, research reveals. In one of its Quicktake market updates on Sept. 29, on-chain analytics platform CryptoQuant flagged intense selling by a large number of recent hodlers. 2021 bull market coins "have been sold aggressively" As BTC/USD lingers near levels barely seen since 2020, it is not just miners feeling the pinch . Analyzing Bitcoin’s Exchange Inflow Spent Output Ages Bands (SOAB), CryptoQuant contributor Edris showed that those who bought between April 2021 and April 2022 have been selling coins en masse — for less than they bought them. “Looking at the chart, it is evident that coins aged between 6–18 months ago have been sold aggressively recently,” he concluded. “These coins have been b

Bitcoin has seen some profits over today’s trading session as September’s monthly candle is coming to an end. Market participants were expecting a tight battle between bullish and bearish forces, but the cryptocurrency has been moving sideways with slight upward pressure. At the time of writing, Bitcoin (BTC) trades at $19,700 with a 2% and 1% profit over the last 24 hours and 7 days. Other cryptocurrencies in the crypto top 10 by market cap are displaying similar price action, but BTC seems to be leading the low timeframe bullish momentum. BTC’s price records profits on the 4-hour chart. Source: BTCUSDT Tradingview People Buy Bitcoin To Hedge Against Their Currencies Downside Trend? Data from Material Indicators shows that investors with buying orders from $1,000 to $10,000 bought into Bitcoin’s recent price action while other investors sold their coins. In that sense, a rally into the monthly close seems unlikely. However, Material Indicators also show that ask (sell) liquidity h

Equities markets have extended their decline, but Bitcoin and select altcoins have not given up much ground, leading some traders to believe that the bottom is in. The United States equities markets have been under a firm bear grip for a large part of the year. The S&P 500 and the Nasdaq Composite have declined for three quarters in a row, a first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on track to record its worst September since 2002. These figures outline the kind of carnage that exists in the equities market. Compared to these disappointing figures, Bitcoin ( BTC ) and select altcoins have not given up much ground in September. This is the first sign that selling could be drying up at lower levels and long-term investors may have started bottom fishing. Daily cryptocurrency market performance. Source: Coin360 In the final quarter of the year, investors will continue to focus on the inflation data. Any indication

The world’s largest holder of Bitcoin is looking for a software engineer to create cybersecurity solutions and enable e-commerce use cases on the Lightning Network. MicroStrategy, the business intelligence and tech company that holds the world’s largest Bitcoin reserve, is hiring a Bitcoin Lightning software engineer to create a Lightning Network-based software-as-a-service platform.  The new engineer will be responsible for building a Lightning Network-based platform to address enterprises’ cybersecurity challenges and enable new e-commerce use-cases, according to a job posting linked to the MicroStrategy website. Besides “an adversarial mindset,” the successful applicant will have certificates, knowledge of tools and programming languages, and experience with decentralized finance (DeFi) technologies . MicroStrategy is looking to hire a Bitcoin Lightning Software Engineer to build a Lightning Network-based SaaS platform. #bitcoin pic.twitter.com/XFYrkIaFA9 — Neil Jacobs (@Neil

Gibraltar is becoming well known for its pioneering crypto regulations, support for blockchain development and bitcoin adoption. Cointelegraph reporter Joe Hall visited the country of Gibraltar to explore Bitcoin adoption on The Rock, as the peninsula is known locally, and how the adoption of bitcoin for shopping in the territory is impacting business. The visit was also an opportunity to visit Xapo Bank, the world's first private financial institution to combine traditional banking with Bitcoin. Coinbase acquired its custody business in 2019, making the American exchange the largest crypto custodian in the world. The British Overseas Territory of Gibraltar is known for its pioneering crypto regulations, support for blockchain development and bitcoin adoption, with many retail businesses using the Lightning Network — a layer two network that enables off-chain transactions — to accept bitcoin as payment around the peninsula.  "When you talk about adoption of the use of Bit

In this episode of NewsBTC’s daily technical analysis videos , we examine how Bitcoin might have bottomed precisely at the 1.618 Fibonacci extension, using Elliott Wave Theory. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 29, 2022 Using the Fibonacci retracement tool not for retracement but for extensions, we have found a golden discovery using math. Did Bitcoin Bottom At The Golden Ratio? In Elliott Wave Theory , corrections come in ABC patterns. Taking the Fibonacci retracement tool to draw from the bottom to the top of the A wave will provide a Fibonacci extension target for where a C wave correction might end. The wick down to $17K touched precisely at the 1.618 Fibonacci with pinpoint accuracy. 1.618 is the golden ratio, also known as the divine proportion. Bitcoin downtrend stops at precisely the golden ratio | Source: BTCUSD on TradingView.com Past Bear Market Bottoms Pinpointed With Golden Accuracy Shocked by this discovery, we used th

Representative Patrick McHenry said regulatory clarity for digital assets would be one of his "top priorities" if he became the next chair of the House Financial Services Committee. North Carolina Representative Patrick McHenry may have used his virtual appearance at a cryptocurrency conference as a soapbox for calling for votes in the 2022 United States midterm elections. In a prerecorded message for the attendees of the Converge22 conference in San Francisco on Sept. 29, McHenry suggested that the goal of a “clear regulatory framework” for digital assets could drive U.S. lawmakers to develop legislation. The Republican lawmaker used terms including “bipartisan consensus” and support from both major political parties over certain regulatory frameworks related to digital assets and stablecoins before seemingly encouraging crypto users to vote red in the next election. “To ensure that these technologies flourish here in the United States, we need to provide regulatory clar

The crypto market successfully bounced from support with major cryptocurrencies recording profits over today’s trading session, VeChain (VET) follows the general sentiment. The cryptocurrency has been able to preserve some of its gains from yesterday’s session and seems poised for further highs. At the time of writing, VeChain (VET) trades at $0.023 with a 2% profit in the last 24 hours and a 5% profit over the past 7 days. In higher timeframes, the cryptocurrency records significant losses, but in the short term, this trend might be starting to reverse. VET’s price shows a positive reaction as the crypto market rebounds on the 4-hour chart. Source: VETUSDT Tradingview VeChain Price About To Breakout? According to analyst Justin Bennett, the price of VeChain has been forming a falling wedge structure. This price pattern has been in the making since August 2022. At that time, VeChain saw an important rally after months of trading sideways between its current levels, and a high of ar

Users in 100 countries can now connect their digital wallets, post and share nonfungible tokens. Meta, Facebook and Instagram's parent company, announced another development in its digital arts initiative. As of Sept. 29, all users on both platforms can connect wallets and share nonfungible tokens (NFTs) across 100 countries.  As part of the feature, which has been in testing since May, users will be able to tag creators and collectors, and cross-post digital collectibles between platforms without paying any fees. Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries. Creators like artist Lívia Elektra are sharing their #NFTs on our apps. https://t.co/6yV4HgfHSW https://t.co/wa2wkWgfWX pic.twitter.com/fRi0wA7a6l — Meta Newsroom (@MetaNewsroom) September 29, 2022 In August, Meta started allowing users to post digital collectibles that they own across Facebook and Instagram  a

MATIC price trades below 50 and 200 EMA on the daily timeframe despite showing some relief strength.  MATIC rally caught short as BTC price continued to range. The price of MATIC must hold $0.72 support or face a drop-down to a weekly low.  Polygon (MATIC) price showed some bullish strength recently, but the price has struggled to break above key daily resistance against tether (USDT). The price of Polygon (MATIC) has continued to range as bulls sweat over a potential break of the key support zone holding the price of MATIC from having a spiral down to a weekly low. (Data from Binance) Polygon (MATIC) Price Analysis On The Weekly Chart  The price of MATIC showed incredible strength rallying from a weekly low of $0.3 to a high of $1, with many investors and traders left astonished as to this movement in a bear market that has brought nothing but a tough moment for most crypto projects. MATIC’s price has recently declined after bouncing from its weekly low of $0.3 as a price rally

Allaire believes that privacy and identity are two fundamental pillars of a new Web3. At the Converge22 conference in San Francisco, Jeremy Allaire, CEO of stablecoin issuer Circle, said that the world is finally moving from the speculative value phase of crypto to the utility phase. Drawing parallels to the early days of the internet, he said: “It is an architecture that the internet was founded on many decades ago — this idea of open networks, of open standards and protocols, of connecting entities, devices and people in interoperable ways, of a globally intertwined world of decentralized systems.” As told by Allaire, there are currently on-chain mechanisms to ensure safe, trustworthy interactions between crypto users. However, there need to be “advancements” in technologies such as zero-knowledge proofs that prove identities and credentials while simultaneously ensuring individuals’ privacy: “People need to be able to interact with apps, and services, and content and transactio

The year 2022 so far has seen the crypto market spend most of its time in the fear territory, with a large chunk of it being especially deep into extreme fear. Crypto Fear And Greed Index Continues To Point At “Extreme Fear” According to the latest weekly report from Arcane Research , the market has continued to be fearful without any breaks for 178 days now. The “ fear and greed index ” is an indicator that tells us about the general sentiment among investors in the crypto sector. The metric uses a numeric scale that runs from zero to hundred for representing this sentiment. All values above 50 signify that investors are greedy right now, while those below the threshold suggest a fearful market. Values of more than 75 and less than 25 towards the ends of the range imply sentiments of “ extreme greed ” and “extreme fear,” respectively. Now, here is a chart that shows the trend in the crypto fear and greed index over the past year: The value of the metric remains quite low | Sourc

In a lengthy appraisal of distributed ledger technology, Cunliffe weighed its technical implications, which will be examined in greater detail when the FMI Sandbox premiers in 2023. There’s more to crypto than just assets, Bank of England deputy governor Sir Jon Cunliffe reminded the Association for Financial Markets in Europe Conference in London on Sept. 28. The  distributed ledger technology (DLT) behind crypto  assets has far-reaching implications for traditional markets and interoperability.  DLT will touch on trading, clearing, settlement and custody as it is integrated into capital markets, Cunliffe said. One of the biggest differences Cunliffe identified in DLT was its speed. Instantaneous settlement can reduce risk by removing the chance of drastic market movements while a transaction is being processed, but: “The development of instantaneous settlement also poses challenges for the management of liquidity as it requires all cash and securities to be in place at the time

LINK price holds strong above 50 EMA on daily timeframe with a string.  LINK rallies as price eyes $10 ahead of its announcement of staking.  The price faces resistance at $9 in the weekly timeframe.  Chainlink (LINK) price showed bullish strength recently, but the price has struggled to break above key resistance against tether (USDT). With its intending staking in December 2022, there is high hope of a major rally for the price of Chainlink (LINK). Despite the uncertainty, the price of LINK has looked decent, holding up pretty well as other altcoins drop significantly in price and value. (Data from Binance) Chainlink (LINK) Price Analysis On The Weekly Chart  Chainlink Co-Founder Sergey Nazarov announces Staking Plans, Aims to Be Web3’s AWS, ahead of its scheduled plan to launch staking in December and a new economic model for the Web3 services platform at SmartCon 2022 . The price of LINK has recently bounced from a low of $6.5 in the weekly timeframe rallying to a high of $8

In this episode of NewsBTC’s daily technical analysis videos , we examine how Bitcoin is trading against other currency pairs and not USD. We also look at BTC against WTI Crude Oil and the S&P 500. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 28, 2022 The market continues to be shaken up by the strength of the dollar. Following yesterday’s rally in BTC that was immediately wiped out , traders are even more hesitant to pull the trigger with the top cryptocurrency rising again. Bitcoin Daily Momentum Change Causes Chain Reaction Bitcoin daily has flipped bullish on the LMACD, setting off a chain reaction across a variety of timeframes. In terms of this chain reaction, we have a bullish crossover on the 3-day and the weekly timeframe. Both, especially the weekly, have been like bait, snapping back at bulls each time they attempt to turn the tides of momentum.   Momentum causes a bullish chain reaction of crossovers | Source: BTCUSD on Trading

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The world is gradually heading towards a cashless society such as CBDC making cash payments obsolete. When this happens, fiat currencies might no more be in use. So central banks are aggressively launching Central Bank Digital Currencies for easy virtual transactions. Many countries are either in the process of developing their Central Bank Digital Currency (CBDC) or have already done so. Moving forward for CBDC adoption in cross-border payments, the Bank of International Settlements (BIS) started testing a multi-jurisdictional CBDC one month ago. The BIS has announced the successful completion of the pilot for the multi-jurisdictional central bank digital currency. The test lasted five weeks with $12 million worth of real-value transactions, facilitating over 160 cross-border payments. In addition, during the pilot, foreign exchange transactions worth over $22 million occurred between 20 participating commercial banks. Along with the 20 commercial banks, the central banks of Chin