Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Weekly Roundup: Citizens protest against El Salvador's Bitcoin Law, investors lose $1.7 billion to DeFi exploits

CryptocurrencySep 06, 2021 04:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Weekly Roundup: Citizens protest against El Salvador's Bitcoin Law, investors lose $1.7 billion to DeFi exploits

Bitcoin

  • El Salvador’s Bitcoin Law is facing a lot of resistance from citizens as protesters flood the street with hopes of repelling the decision. Meanwhile, the country’s Legislative Assembly has approved a $150 million Bitcoin Trust to build the infrastructure to support its transition to accepting Bitcoin as legal tender.
  • Social media giant Twitter (NYSE:TWTR) will add a Bitcoin tipping feature to its platform.
  • Over the past week, Bitcoin reclaimed the $50,000 benchmark, marking the beginning of a potential Bull Run.
  • According to a survey, about 70% of El Salvadorans are against the government’s incoming Bitcoin Law. On the flip side, 77% of Russian investors prefer Bitcoin to traditional investment options like gold and forex.
  • Blockchain.com has processed over $1 trillion in crypto transactions, sets sight on IPO.
Other News
  • DeFi lending protocol Cream Finance lost $25 million following a flash loan attack. The project’s team has announced that it will reimburse affected customers from its protocol fees. Similarly, more than $21 million was stolen from Bilaxy crypto exchange after hackers gained access to one of its hot wallets.
  • Speaking of DeFi exploits, according to the REKT database, about $1.7 billion has been lost to such attacks on DeFi protocols.
  • Nigeria is looking to join the league of countries working on a central bank digital currency (CBDC). The country’s central bank released drat guidelines for its eNaira project and has gone ahead to engage global fintech company Bitt Inc. as its technical partner for the digital currency.
  • Enjoy the crypto ride wide it lasts, because according to billionaire portfolio manager John Paulson, cryptocurrencies “will eventually prove to be worthless.” Former US President Trump also shared similar sentiments. He believes that cryptocurrencies are “a disaster waiting to happen.”
  • Brazilian law enforcement confiscated $28.7 million worth of cryptos in a special mission.
  • Slovenian lawmakers want to implement a 10% income tax on cryptocurrencies.
  • The U.S. Department of Treasury is looking to introduce provisions in the budget bill that requires crypto businesses to report information on their foreign clients.
  • Leading crypto exchange Binance is looking to launch an IPO within the next three years.
  • Binance has continued to face pressure from regulators. Regulators in Singapore have added the exchange to its list of unregulated entities.
  • The United States Securities and Exchange Commission (SEC) has filed a lawsuit against the founder of the Bitcoin Ponzi scheme Bitconnect for his involvement in a massive $2 billion crypto fraud.
  • Amid its ongoing battle with Ripple, the SEC is also investigating Uniswap, a popular decentralized exchange.
  • SBI Holdings could become the first financial institution in Japan to launch a crypto fund. The product could go live in November.

Continue reading on BTC Peers

Weekly Roundup: Citizens protest against El Salvador's Bitcoin Law, investors lose $1.7 billion to DeFi exploits
 

Related Articles

The biggest crypto heists of all time
The biggest crypto heists of all time By Cointelegraph - Jan 28, 2022

One of the best ways to protect your crypto investment is to secure a wallet and do your own research about the projects in the market.Don't believe everything you're told....

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email