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The Cardano Foundation's X account was compromised by hackers today. El Salvador has made over $330 million in unrealized profits from its Bitcoin investment, as reported by the country's president. Various leaders in the cryptocurrency industry are expressing frustration over the upcoming renomination of United States Securities and Exchange Commission Commissioner Caroline Crenshaw.
The Cardano Foundation's X account was compromised by a hacker on December 8. The hacker posted harmful links on the Foundation's social media page.
At first, the hacker made a post promoting a fake token named "ADAsol", which gained around $500,000 in trading activity before ultimately failing.
After advertising the fake token, the hacker made another false post saying that the Cardano Foundation was going to stop supporting ADA (ADA) because of investigations by the SEC in the United States.
A fake post was made from the Cardano Foundation's hacked X account. This information comes from ZackXBT.
Both of the posts have been removed, and the Cardano Foundation is currently taking steps to regain control of their social media account.
It is recommended that users avoid the account and refrain from clicking on any links from the Cardano Foundation X page until the problem is completely fixed.
The Bitcoin investments in El Salvador have reached over $300 million in value, according to President Nayib Bukele. He shared on social media the country's profits from investing in Bitcoin as the cryptocurrency reached a record high of over $100,000 for the first time.
Bitcoin (BTC) hit a milestone on December 5 by reaching $100,000, leading to enthusiastic reactions from the cryptocurrency community. Autism Capital, a X account focused on crypto, requested Bukele to reveal El Salvador's Bitcoin holdings in order to prove critics wrong. In response, Bukele shared the country's BTC portfolio on X.
Origin: Nayib Bukele
According to Bukele's recent report, El Salvador has invested approximately $270 million in Bitcoin since first accepting the cryptocurrency. The update indicates that no Bitcoin has been sold, and the current unrealized profits amount to over $333 million.
The crypto industry is concerned about the upcoming vote on whether to renominate SEC Commissioner Caroline Crenshaw, who is known for being strongly against crypto. Many executives in the industry are worried about the potential consequences of her reelection.
In January, Crenshaw was one of two SEC commissioners who opposed the approval of Bitcoin exchange-traded funds (ETFs).
Emilie Choi, the president and COO of crypto exchange Coinbase, expressed her disapproval of Caroline Crenshaw's stance against cryptocurrency, specifically highlighting her opposition to Bitcoin ETFs. Choi called for a change within the SEC during a post on Dec. 7.
Author: Alexander Grieve
Alexander Grieve, the vice president of government affairs at the crypto investment firm Paradigm, described it as a final opportunity for the crypto industry before the end of the current term. Senate Banking Chair Sherrod Brown is attempting to quickly secure the reappointment of SEC commissioner Caroline Crenshaw, who is known for her negative stance on cryptocurrency.
According to Bloomberg's ETF analyst James Seyffart, Crenshaw was not only a supporter of SEC chair Gary Gensler but also had a stronger opposition to cryptocurrency than Gensler himself. This was mentioned in a post on December 7th.
After the SEC granted approval for spot Bitcoin ETFs in the US on January 10th, Crenshaw, an SEC commissioner since August 2020, criticized the decision as being both unsound and historically unprecedented.