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Its Monday ! Let’s Start the week off STRONG 💪 💥
- 💰 🇺🇸 SEC told Coinbase they believe every cryptocurrency other than Bitcoin is a security.
- 📉 Less than 2 days to halving LTC.
- 🚨 Curve Finance exploit puts $100M+ worth of crypto at risk
- 💰 Bitcoin $BTC Number of Addresses Holding 1+ Coins just reached an ATH
Binance is the first exchange in the world to secure an Operational MVP License from Dubai’s Virtual Assets Regulatory Authority (VARA).
💰 Less than 2 days to halving LTC. 🚀
🇺🇸 SEC told Coinbase they believe every cryptocurrency other than Bitcoin is a security.
According to reports, the SEC has expressed its belief that every cryptocurrency, with the exception of Bitcoin, falls under the classification of a security.(rolls eyes) This has ignited discussions within the crypto community about the potential implications for various digital assets. (XRP beat the SEC in court)
As the primary regulatory body overseeing securities offerings and trading in the United States, the SEC plays a crucial role in safeguarding investors and ensuring compliance with financial laws.(laws which are extremely vague and ever evolving) Its actions and pronouncements significantly impact the cryptocurrency space, given the increasing intersection of digital assets with traditional financial systems.
Bitcoin, being the first and most widely recognized cryptocurrency, has often been perceived as distinct from other digital assets.(all the Maxis say AMEN) The SEC’s assertion that Bitcoin is not considered a security aligns with the notion that it functions more as a store of value and a medium of exchange, akin to digital gold.
The SEC’s reported belief that all other cryptocurrencies are securities implies that these assets may be subject to existing securities regulations. This classification could potentially lead to additional compliance requirements for issuers and platforms facilitating the trading of these digital assets.
The SEC’s stance may prompt increased scrutiny and regulatory oversight for projects issuing and trading cryptocurrencies beyond Bitcoin. This will affect token sales, initial coin offerings (ICOs), and other fundraising activities conducted by startups and companies seeking to raise capital through digital assets.
While many people are fudding, we really have no reason to stress. If the Ripple vs SEC case has taught us anything, it’s that these things take YEARS….. Literally…. YEARS. As far as we are concerned the next bull run will be unaffected by any of the drama coming out of the US.
🚨 Curve Finance exploit puts $100M+ worth of crypto at risk
The DeFi world was recently shaken up, as a vulnerability in Curve Finance exposed more than $100 million worth of cryptocurrencies to potential risk. The exploit has raised concerns within the crypto community and serves as a reminder of the need for robust security measures in DeFi protocols.
Curve Finance, a popular decentralized exchange and automated market maker (AMM) protocol, faced a vulnerability that hackers exploited to manipulate the platform’s smart contracts. The exploit allowed the attackers to access funds stored in the protocol, putting a significant amount of crypto assets at risk.
As of the time of the exploit, the total value locked (TVL) in Curve Finance was estimated to be more than $100 million, comprising various cryptocurrencies and stablecoins. The potential risk to these assets highlights the importance of securing DeFi protocols and implementing comprehensive auditing practices.
As DeFi protocols grow in complexity, third-party audits become essential in identifying potential vulnerabilities. Auditing firms play a critical role in scrutinizing smart contracts, analyzing code structures, and offering insights to enhance security measures. Integrating thorough audits into the development process can significantly reduce the risk of exploits.
Incidents like the Curve Finance exploit can erode user confidence in DeFi platforms. However, the industry’s resilience lies in the community’s commitment to continuous improvement, transparency, and collaborative efforts to enhance security. Users are encouraged to stay informed and exercise caution when interacting with DeFi protocols.
essentially….. not you keys…. not your crypto. DeFi and CeFi platforms ALL carry inherent risks. So it’s an absolute necessity that you start to self custody your crypto. Only move crypto to Dapps and exchanges when you absolutely need to. Always hold the bulk of your crypto on hard wallets.
Have an amazing Monday its time to get serious about winning. 🚀 We will see you guys Wednesday ! Stay SAFU and stack Coins!