What happened in crypto this weekend?


Analysts ‘increasingly confident’ of a spot Bitcoin ETF approval

Financial analysts at Cantor Fitzgerald are “increasingly confident” that the United States regulator will grant approval of a spot Bitcoin ETF, primarily based on latest amendments to pending ETF functions.

VanEck was the most recent firm to amend its spot Bitcoin ETF utility on Oct. 27 and monetary companies equivalent to BlackRock have adopted the Securities and Exchange Commission’s request in including surveillance-sharing agreements over the previous few months.

Cantor Fitzgerald analysis analysts Josh Siegler and Will Carlson informed Bloomberg in an Oct. 29 report that an accredited spot Bitcoin ETF in the United States will likely be “a bedrock moment for Bitcoin’s long-term adoption and legitimization.”

Siegler and Carlson mentioned an accredited spot Bitcoin ETF product would additionally streamline many companies for potential Bitcoin traders, equivalent to discovering a custodian and self-storage companies.

Bitcoin’s (BTC) value has pumped 16.5% over the past week to a excessive of $34,715 amid hypothesis that BlackRock’s spot Bitcoin ETF utility is inching nearer in the direction of approval.

The Cantor Fitzgerald analysts famous that such approval will stay the principle drive behind Bitcoin’s value motion over the short-term.

“A Bitcoin Spot ETF approval is the most-important short-term catalyst for Bitcoin’s price.”

Siegler and Carlson added that Grayscale’s latest courtroom victory over the SEC is one other signal that spot Bitcoin ETFs might finally be accredited.

Astrid Finance exploiter returns $182K after negotiation

The crew behind Astrid Finance have managed to persuade an exploiter to return 80% of the $227,000 in crypto they stole in an Oct. 28 assault.

Astrid, an Ethereum-based liquid staking protocol was exploited on Oct. 28. However, Astrid mentioned it managed to persuade the hacker utilizing an on-chain message on Oct. 29 to maintain 20% of the funds as a bounty and return the remainder.

At the time, the Astrid crew threatened to pursue authorized motion in opposition to the hacker if the funds weren’t returned by Oct. 31 at 8:00 am UTC time, nonetheless he determined to adjust to greater than a full day to spare.

“As such we consider this as settled amicably,” Astrid mentioned in an Oct. 29 assertion.

The hacker despatched again 102 Ether (ETH), value about $182,000 from the approximated 127 Ether stolen.

Astrid Finance’s on-chain message to the hacker. Source: Etherscan

Astrid mentioned all refunds have now been processed and that left over funds will now be transferred right into a multisignature pockets.

Those funds will likely be used to additional audit and develop Astrid’s good contracts, which the agency says will likely be its subsequent focus.

“Our next steps are to focus on redeveloping our smart contracts and have our new smart contracts audited by multiple top audit firms before any future Mainnet launch,” the agency mentioned.

Astrid added that its present contract will stay paused in the interim.

Astrid initially mentioned the exploit got here from a repair really useful by one in all its auditors. However the agency backtracked on that assertion about an hour later, explaining that the exploit was “missed” by Astrid and its auditing crew.

El Salvador president Nayib Bukele to run once more in subsequent election

El Salvador president Nayib Bukele has filed paperwork to be re-elected in the nation’s upcoming 2024 presidential election in February.

Bukele, a Bitcoin advocate, obtained sturdy help from the general public on Oct. 26 after he registered to run as president once more.

New Ideas, his social gathering, is backed by 70% of the nation’s voting inhabitants, according to Reuters, which cited a research by an El Salvadoran college. Its closest competitor solely obtained 4% of the overall votes.

El Salvador’s presidential election will happen on Feb. 4, 2024.

Celsius Network raises alarm over new phishing marketing campaign

Bankrupt crypto lending agency Celsius has warned of a brand new wave of phishing assaults concentrating on its collectors. 

Celsius notified its collectors and the group of the phishing makes an attempt on Oct. 28, urging collectors and others to not click on on any suspicious hyperlinks.

The agency iterated that it’s going to solely request private data from collectors and previous customers by the Celsius app, e mail or from its area community.

“The Debtors, the Official Committee of Unsecured Creditors, Fahrenheit, LLC, or their respective advisors will never contact you directly by phone, text message, or social media to request account or personal information absent an order or on-the-record instruction by the Court,” Celsius added.

Related: Crypto bank runs in 2022 catalyzed by institutional withdrawals: Research

It marks the tenth discover filed by Celsius pertaining to the phishing makes an attempt, the primary of which got here on Nov. 30, 2022.

Celsius’ notices pertaining to phishing makes an attempt. Source: Streeto

Celsius famous victims of those phishing makes an attempt can file a criticism to the Federal Bureau of Investigation’s Internet Crime Complaint Center in the United States in addition to the Consumer Protection Bureau or the Federal Trade Commission.

Other information

The Wall Street Journal has revised an article that mischaracterized the extent to which Hamas and different militant teams have been funding its terrorist actions with cryptocurrencies, after fierce group criticism. In an Oct. 10 article, it claimed a Palestinian Islamic Jihad raised as a lot as $93 million between August 2021 and June 2023. However, the correction amended that determine to not more than $12 million.

Investment agency VanEck says Solana’s (SOL) value by 2030 might vary from a conservative $9.81 to an ambitious $3,211.28 by 2030, whereas it expects Ether to achieve a goal value of $11,800 by the top of 2030.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom