February 7, 2024 Genfinity News Recap
Welcome to the February 7, 2024 edition of the Genfinity News Recap! As you navigate through your busy workday, staying informed about the latest developments in the realm of Web3 can be a challenge. However, we are here to provide you with a concise overview of the most significant news you might have overlooked today.
Trading sentiments are high
Coindesk reported that Bitcoin rose to four-week high above $44,000 on Wednesday, driven by increased accumulation from large holders and record highs in U.S. equity indices. The leading cryptocurrency climbed to its highest level since January 12, following the introduction of spot bitcoin exchange-traded funds (ETFs) in the U.S.
The publication also noted that crypto trading has hit its stride, getting into the busiest pace since June of 2022. It seems that the green light for Bitcoin ETFs reignited enthusiasm for digital assets.
Hacken believes Chris Larsen’s wallet hack was an inside job
Cointelegraph just reported that the auditing company Hacken asserts the discovery of an XRP-affiliated wallet predating the recent $112.5 million exploit on Ripple co-founder Chris Larsen’s personal wallets, suggesting a potential inside job targeting a high-ranking Ripple executive’s personal cryptocurrency holdings.
Their data states that the hacker behind the $112.5 million XRP exploit on Jan. 31 had links to a wallet account potentially controlled by Ripple. It is important to note that the firm refrains from directly implicating a Ripple employee, citing it as too early for conclusions.
Hedera Hashgraph
In case you missed it yesterday, Hedera has secured a $250 million partnership with the Saudi Ministry of Investment. This five-year agreement between Hedera and the Saudi Ministry of Investment aims to revolutionize Web3 and deep tech development within the kingdom. Announced during the Saudi-Swiss roundtable in Riyadh, this collaboration marks a significant milestone in leveraging blockchain alternatives for technological advancement.
We hope you enjoyed our February 7, 2024 Genfinity News Recap! Come back tomorrow evening for another news summary, and please leave a comment below.
