Brazilian Crypto Streamer Loses Thousands Due to Private Key Exposure — A Brazilian crypto streamer, Fraternidade Crypto, lost thousands of dollars during a live YouTube stream when he accidentally exposed his private key to a self-custodial cryptocurrency wallet. His private key, along with his Gala Games passwords, were stored in the same text file on his computer. Despite his efforts to close the livestream, it was too late, and a viewer accessed his MetaMask wallet via the exposed private key, making off with his Polygon stash of 86,000 MATIC, worth approximately $50,000 at the time. Although he managed to recover some of the funds, his NFTs and additional assets remain lost, highlighting the importance of private key security in cryptocurrency self-custody.
BTC Rises After Court Ruling on GBTC Conversion to ETF — In a significant development, the U.S. Court of Appeals ruled in favor of Grayscale, allowing them to continue their efforts to convert the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF), despite previous SEC denials. GBTC, currently the largest Bitcoin fund with around $16.3 billion USD in assets under management, saw its fortunes rise following this news, pushing Bitcoin’s price up from $26k USD to over $28k USD. Bloomberg analysts have subsequently increased the probability of a U.S. spot Bitcoin ETF approval by the end of 2023 from 65% to 75%, with a 95% likelihood of approval by the end of 2024. However, the SEC has delayed decisions on seven Bitcoin spot ETF applications until October, causing BTC to settle back around $26k USD after the initial surge.
Elon Musk’s “Everything App” Progresses with Twitter’s Crypto License Approval — Twitter Payments, LLC, the payment division of Elon Musk’s X, has received approval from Rhode Island regulators for its license request to store, transfer, and exchange cryptocurrencies like BTC on behalf of its users. While this move brings Musk closer to his vision of making X an “everything app,” it remains uncertain which cryptocurrencies will be initially supported and when this feature will be rolled out. The news seemed to boost Dogecoin (DOGE) prices, likely influenced by Musk’s previous endorsement of the project.
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Bitrue Joins Forces with Xahau Ledger Fostering Innovation in XRPL Ecosystem. We’re delighted to unveil a groundbreaking collaboration that holds the power to reshape the blockchain landscape. Building upon this commitment, Bitrue and Xahau Ledger have united with a common vision to redefine transactions, governance, and user participation within the XRPL ecosystem. Read our official announcement here.
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In another “Ask Me Anything” session with Bitrue, we talked to a panel of guests about Dogecoin & Elon Musk. We discussed what fascinates the industry and community about the memecoin. Opinions were also shared on the future potential and insights on memcoins itself. Listen to the recording here in case you missed it.
