This week, Poloniex suffered a breach. BlackRock seeks to launch an Ethereum (ETH) ETF as it awaits a decision on the Bitcoin (BTC) application. BTC targeted $38,000 amid a sustained rally. Meanwhile, regulators reply to Binance.
Poloniex hacked for $100m
- Poloniex faced a security hiccup on Nov. 10, as its hot wallet experienced an unauthorized outflow, resulting in a loss exceeding $33 million, according to earlier reports.
- Justin Sun, the current majority shareholder of Poloniex, affirmed that the exchange remains financially stable and pledged full reimbursement for the assets.
- The initially estimated $33 million loss skyrocketed to over $120 million across several networks, including Ethereum and Bitcoin, as flagged by blockchain security firm PeckShield.
- Sun generously offered the hackers a 5% bounty if they returned a substantial portion of the funds within seven days, emphasizing a peaceful resolution.
- He provided three wallet addresses for potential reimbursement and assured an ongoing internal investigation and a commitment to compensate affected users, citing Poloniex’s “healthy financial position.”
Sustained ETF hype
- As the hype surrounding a Bitcoin spot ETF spilled into this week, Bitcoin continued to soar, hitting $36,780 as reports suggested that the SEC had entered a window to review spot Bitcoin ETF applications.
- Interestingly, prominent ETF analysts anticipate potential approvals before Jan. 10, 2024, with a chance of the SEC making decisions earlier than expected.
- Asset manager ARK Invest partnered with 21Shares to introduce a suite featuring exposure to Bitcoin and Ethereum futures contracts.
- Notably, information from the 21Shares website suggested that five products resulting from this collaboration would start trading next week on the Chicago Board Options Exchange.
- 21Shares clarified the suite does not support direct investment in spot BTC, advising those seeking BTC expo
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Author: Wahid Pessarlay
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