Here's why crypto whales accumulate BTC
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A data breach in 2022 affecting LastPass led to the theft of $4.4 million in cryptocurrency from 80 wallets.
On-chain researcher, ZachXBT, in collaboration with MetaMask developer Taylor Monahan, traced the movement of the compromised funds. It was revealed that most victims were either long-term LastPass users or had stored their crypto keys in their password storage software. Previously, LastPass acknowledged a breach wherein an attacker used information from an August incident to decrypt customer information. In total, breaches linked to LastPass in recent times have led to the theft of millions in cryptocurrency.
Chiliz has introduced the SportFi ecosystem, a platform designed to help developers create fan-centric decentralized applications.
This move aims to bolster innovation in fan engagement while safeguarding developers from issues like intellectual property infringement and fraud. The force behind Socios.com, which revolutionized fan interaction with sports teams, drives SportFi. Additionally, the Chiliz Chain, equipped with a unique blacklist feature, promises enhanced security for users. Notably, teams such as the English Premier League's Tottenham Hotspur have embraced this initiative, issuing tokens via Socios.com.
Bitcoin whales have accumulated over 30,000 BTC (~$1 billion) in a week, coinciding with growing institutional interest and anticipation of Bitcoin ETFs.
Large transactions on the Bitcoin blockchain exceeding $100,000 have surged to a new 2023 high, alongside Bitcoin's notable 100% gain this year. Despite Bitcoin's current market value to realized value (MVRV) ratio standing at 150%, historical data suggests more growth potential. Meanwhile, investment firm VanEck has re-submitted its application for a spot Bitcoin ETF to the SEC, amid increasing demand for regulated Bitcoin investment channels.
Circle has partnered with Taiwan's FamilyMart and BitoGroup to launch a "Points-to-Crypto" service allowing customers to convert loyalty points to USDC with no transaction fees.
This collaboration taps into Taiwan's significant loyalty points market, with data showing 87% of Taiwanese consumers actively accumulating loyalty points. Additionally, FamilyMart has over 17 million members in its FamiPoints program. In related news, Worldcoin, aiming for global financial inclusion, will soon stop using USDC to pay its Orb Operators and will compensate them with its native WLD token.
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