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In the world of cryptocurrency today, the Cardano Foundation's X account experienced a security breach. The president of El Salvador revealed that the country has accumulated over $330 million in unrealized profits from its Bitcoin investment. Additionally, a number of leaders in the crypto industry have expressed displeasure over the potential reappointment of United States Securities and Exchange Commission Commissioner Caroline Crenshaw.
The Cardano Foundation's X account was compromised by a hacker on December 8th. The hacker posted harmful links on the Foundation's social media page.
At first, the hacker made a post promoting a fake token called "ADAsol", which attracted around $500,000 in trading activity before it failed.
After promoting the fake token, the hacker made another false post suggesting that the Cardano Foundation would stop supporting ADA because of an investigation by the SEC in the United States.
A post that was deceitful was made from the Cardano Foundation's X account that had been compromised. The source of this information was ZackXBT.
Both of the posts have been removed, and the Cardano Foundation is currently in the process of taking back control of the social media account.
Users are advised to avoid the account and refrain from clicking on any links from the Cardano Foundation X page until the problem is completely fixed.
The value of El Salvador's Bitcoin investments exceeded $300 million, according to President Nayib Bukele. He shared this news on social media as the cryptocurrency reached a record high of over $100,000.
Bitcoin (BTC) hit a milestone on Dec. 5 by reaching $100,000, causing excitement among those involved in the cryptocurrency world. Autism Capital, a crypto account on a platform called X, requested for Bukele to reveal El Salvador's Bitcoin holdings in order to showcase their success to critics. Bukele obliged by disclosing the country's BTC portfolio on the same platform.
Originating from Nayib Bukele
The most recent report from Bukele reveals that the country has invested close to $270 million in Bitcoin since first adopting the cryptocurrency. The report indicates that no Bitcoin has been sold, and the current profits from the investment now total over $333 million.
The cryptocurrency industry is concerned about the upcoming vote on whether to renominate SEC Commissioner Caroline Crenshaw, who has been critical of crypto. Many leaders in the industry are frustrated by the prospect of her being reelected.
In January, Crenshaw was one of the two SEC commissioners who opposed the approval of Bitcoin exchange-traded funds (ETFs).
Emilie Choi, president and COO of the crypto exchange Coinbase, criticized Caroline Crenshaw for her negative stance on cryptocurrency, specifically Bitcoin ETFs. Choi believes that the SEC needs to make changes to better support the crypto industry.
Origin: Alexander Grieve
Alexander Grieve, the vice president of government affairs at the crypto investment firm Paradigm, expressed that the renomination of anti-crypto SEC commissioner Caroline Crenshaw by Senate Banking Chair Sherrod Brown is seen as a final push against crypto before leaving office.
According to Bloomberg ETF analyst James Seyffart, in a post on December 7th, Crenshaw was not only a supporter of SEC chair Gary Gensler, who is skeptical about cryptocurrency, but was also more strongly against cryptocurrency than Gensler.
After the SEC's approval of spot Bitcoin ETFs in the US on January 10th, Crenshaw, who became an SEC commissioner in August 2020, criticized the agency's decision to allow the ETFs, calling it "unsound and not in line with historical trends."