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Sharp drop in Bitcoin price led to liquidation of $661 million in the crypto market

Bitcoin Its price dropped from $73,090 to $66,717, and the liquidation of $661 million in the last 24 hours affected approximately 200,000 investors. This, combined with the decrease in ETF inflows, increased concerns that prices may fall further. Bitcoin, which has been trying to recover with the purchases since the morning hours, is traded at $ 68,380.

Bitcoin increased privacy and spot security!  Fed chairman btc

New precautionary calendars have been determined in the Ripple-SEC case

A new calendar has been determined for the case between Ripple and the SEC. The SEC will file its opening petition on March 22, and Ripple will file its counterpetition on April 22; The SEC’s response will come on May 6. These changes were made after Ripple requested to extend the discovery process in February. The SEC also requested an extension due to the need to review the documents, and this request was granted. The case could have significant implications for cryptocurrency regulation and compliance.

JPMorgan: Interest in gold and BTC ETFs boosts crypto market

According to JPMorgan analysts, while there is intense interest in spot BTC ETFs, there are outflows in gold ETFs. However, this does not mean that investors switched from gold to Bitcoin. Analysts state that retail and institutional investors are supporting the rally in the market by purchasing both assets.

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Crypto

Bitcoin Declines to $59,500 due to Iran-Israel Tension

There was a big drop in the cryptocurrency markets on Friday evening, and a similar situation was repeated on Saturday. Bitcoin declined.

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There was a big drop in the cryptocurrency markets on Friday evening, and a similar situation was repeated on Saturday. Bitcoin declined.

While Bitcoin was on a stable course at $70,000-71,000 until Friday evening, following the statements of the US Federal Reserve (Fed) that did not foresee a significant change in interest rates and the tension between Iran and Israel, Bitcoin fell to $65,000 in a few minutes, with a liquidation of approximately $900 million and $300,000. affected the investor.

Bitcoin recovered slightly to $67,000, but then fell to a weekly low of $59,500 within a few hours. Altcoins suffered even greater losses; Many altcoins such as SOL, XRP, BNB, DOGE, SHIB, AVAX showed double-digit declines.

The total cryptocurrency market cap has decreased by approximately $200 billion in one day and by $400 billion since Friday morning. Another 220,000 investors were liquidated, bringing the total value of losses to $1.8 billion over the same time period.

Bitcoin bull run

Hong Kong approves first spot BTC and Ethereum ETFs on its way to becoming a crypto hub

Hong Kong approved several spot BTC and Ethereum exchange-traded fund (ETF) applications on Monday in a bid to turn the region into a crypto hub.

China Asset Management, Harvest Global Investments, Bosera Asset Management and HashKey Capital have received various approvals from the Hong Kong Securities and Futures Commission. These organizations announced that they will issue ETFs in cooperation with OSL and BOCI International.

Bosera and HashKey will offer ETFs where investors can subscribe to ETF shares directly using Bitcoin and Ethereum. These developments aim to strengthen Hong Kong’s status as an international financial centre.

Accidentally lost bit's worth of Bitcoin!

BTC miners could sell $5 billion worth of BTC after halving

Bitcoin It is stated that miners will be able to release BTC worth $ 5 billion after the halving. This process is triggered by mining rewards halving and usually causes BTC prices to remain stable for a period of time.

Markus Thielen from 10x Research states that these sales by miners may last four to six months and BTC may not show a big rise until October. Miners’ stockpiling of BTC until the halving disrupts the supply-demand balance and increases prices.

However, Thielen states that altcoins may be negatively affected by this situation and that a significant rally should be waited for six months. It is estimated that large mining companies such as Marathon will gradually sell their savings to prevent a decrease in revenue.

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Crypto

Tether Announces Completion of SOC 2 Type 1 Audit

Tether announced that it has completed the SOC 2 Type 1 Audit, the gold security compliance standard developed by the American Institute of Certified Public Accountants (AICPA).

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Tether announced that it has completed the SOC 2 Type 1 Audit, the gold security compliance standard developed by the American Institute of Certified Public Accountants (AICPA).

Tether announced that it has made an important security update. The company has passed System Organization Control (SOC) 2 Audit Type 1, the first phase of achieving the highest level of security compliance.

The gold security compliance standard SOC 2 Type 1 audit exam developed by the American Institute of Certified Public Accountants has been successfully completed.

Tether

SOC 2’s criteria are based on five core trust service principles

SOC 2’s criteria are essentially based on five trust service principles. The first of these, security, includes measures implemented to protect customer data, such as firewalls, intrusion detection, and advanced authentication protocols. The second principle, availability, focuses on providing a reliable and active network while also addressing efficiency in problem resolution.

Another principle, business integrity, focuses on whether the systems achieve their goals by providing the right data, at the right price and at the right time. The privacy policy places great emphasis on encrypting data during transmission, limiting data access and disclosure to authorized individuals or organizations. The final principle, privacy, ensures that personal information is collected, used, stored and disclosed responsibly.

These highlight that Tether has robust IT control measures in place to ensure its systems are secure, accessible when needed, and information is kept private. In addition to network reliability and problem resolution speed, measures such as firewalls, intrusion detection and advanced authentication for customers are also offered.

This measure demonstrates our commitment to becoming the world’s most trusted stablecon

“This compliance measure reassures our customers that their assets and data are managed in an environment that meets the highest standards in terms of data protection and information security,” said Tether CEO Paolo Ardoino. “Independent verification of Tether security controls is vital and demonstrates our commitment to being the world’s most trusted, compliant stablecoin.”

Tether; It constantly updates its security strategy, focusing on leading the way in innovative technology, transparency and accountability to stablecoin users. Its commitment to completing the SOC 2 Type 1 audit supports its work in providing strong security measures for token holders.

Additionally, Tether has committed to taking SOC 2 exams annually to ensure that its operations and security practices are consistently carried out to the highest standards. The company aims to obtain the SOC 2 Type 2 Certificate, which evaluates the security, usability, confidentiality, confidentiality and processing integrity criteria of Tether in 2024-2025, and questions the operating effectiveness of its internal controls for a period of 12 months.

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Crypto

Tether’s Bitcoin Assets Exceed the 5 Billion Dollar Limit

In the first quarter of 2024, Tether purchased another $627 million worth of Bitcoin, increasing its total assets to 75,354 BTC, thus exceeding the $5 billion mark for the first time with a value of $5.2 billion.

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In the first quarter of 2024, Tether purchased another $627 million worth of Bitcoin, increasing its total assets to 75,354 BTC, thus exceeding the $5 billion mark for the first time with a value of $5.2 billion.

With this last purchase Tether, rose to seventh place in the Bitcoin holder rankings. CEO Paolo Ardoino stated that 8,888 Bitcoins were purchased during the quarter and completed in one go on March 31. In May 2023, Tether announced its plan to allocate 15% of its profits to the purchase of Bitcoin each quarter.

Tether Edu

Chinese government launches public blockchain infrastructure platform with Conflux Network

The Chinese government, in collaboration with Conflux Network, has launched the “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative,” aiming to provide a basic public blockchain infrastructure for cross-border applications. This platform will allow the development of applications that will facilitate cooperation between different countries. The project aims to provide an infrastructure for cross-border projects. Conflux Network is a multi-chain blockchain ecosystem and provides the technical power behind this initiative. This step marks the development of cryptocurrencies in the country, despite China’s generally negative attitude towards cryptocurrencies. China has been increasing restrictions on the crypto industry since 2017.

There was a decrease in crypto thefts in March compared to the previous month

There was a decrease in theft incidents in the cryptocurrency sector in March. According to PeckShield’s analysis, $187 million was lost while $99 million was regained. This represents a decrease of 48% compared to February 2024. One of the biggest events was the return of $62 million as a result of the attack on Munchables. Curio ecosystem and Prisma Finance lost $16 and $11 million respectively. WOOFi, on the other hand, lost $8.75 million and offered a reward to the attacker for the return of the funds.

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