Below are some of the highlights happening in the crypto world – 13 November 2023
- The hacker who stole $118 million from the cryptocurrency exchange Poloniex made a big mistake by burning an altcoin called OX by copying the wrong address. The hacker could have sold the OX tokens for about $2.5 million, but instead sent them to a burn address that permanently destroys them.
- The approval window opened for the SEC to approve 12 spot Bitcoin ETF applications, which could boost the price of Bitcoin and the crypto market. Bloomberg ETF research analysts estimated a 90% chance of approval by January.
- The European Banking Authority (EBA) issued guidelines for liquidity and capital requirements for stablecoin issuers, in line with the EU’s new Markets in Crypto Assets (MiCA) regulation. The guidelines aim to ensure the financial stability and consumer protection of stablecoin projects.
- AI platform Ritual secured $25 million in seed funding to decentralize AI and create a marketplace for AI models and data. The platform uses blockchain technology and its native token RIT to incentivize and reward AI developers and users.
- Launchpad XYZ, an AI system that optimizes crypto trading by analyzing data and removing emotion-driven decisions, saw strong presale momentum for its native LPX token. The startup claims to offer a unique edge for traders and investors in the volatile crypto market.
- Senator Ted Budd proposed the Keep Your Coins Act, which would prevent the IRS from seizing cryptocurrencies from taxpayers without due process. The bill comes after the conviction of Sam Bankman-Fried, the founder of FTX, for tax evasion.
- An under-the-radar altcoin called Neo Gas (GAS) exploded by more than 711% in the past two weeks, after being listed on several crypto exchanges and platforms. GAS is the utility token of the Neo blockchain, which aims to create a smart economy powered by digital assets and smart contracts.
- A crypto analyst who predicted Bitcoin’s drop to $37,000 revealed what’s next for the leading cryptocurrency. The analyst, known as Rekt Capital, said that Bitcoin has officially broken out from an accumulation range and could target $48,000 in the near term.