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Today in the world of cryptocurrency, there was news of the Cardano Foundation's X account being compromised by hackers. The president of El Salvador announced that the country has earned over $330 million in profits from its investment in Bitcoin. Additionally, a number of leaders in the cryptocurrency industry expressed discontent 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 8th. 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 attracted around $500,000 in trading activity before failing.
After promoting the fake token, the hacker made another false post saying that the Cardano Foundation will stop supporting ADA because of investigations by the SEC.
A fake post was shared from the Cardano Foundation's hacked account X. This information was reported by ZackXBT.
The Cardano Foundation has deleted both posts and is currently trying to regain access to their 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 has been completely resolved.
The value of Bitcoin investments in El Salvador has exceeded $300 million, as announced by President Nayib Bukele. This milestone was achieved when the cryptocurrency's value surpassed $100,000 for the first time.
Bitcoin (BTC) hit $100,000 on December 5, causing excitement among those involved in the cryptocurrency world. Autism Capital, a crypto account on X, requested that Bukele reveal El Salvador's Bitcoin holdings in order to prove critics wrong. Bukele then shared the country's BTC portfolio on X in response.
Origin: Nayib Bukele
In a recent update, Bukele revealed that the country has invested close to $270 million in Bitcoin since first starting to use the cryptocurrency. The latest report indicates that no Bitcoin has been sold, and the unrealized profits have now surpassed $333 million.
The crypto industry is concerned about the upcoming vote on whether to renominate SEC Commissioner Caroline Crenshaw, who has been critical of crypto. Many industry leaders are worried about her potential reelection and have expressed their frustration.
Crenshaw was one of the two SEC commissioners who opposed the authorization of spot Bitcoin exchange-traded funds (ETFs) in January.
Emilie Choi, president and COO of crypto exchange Coinbase, criticized Caroline Crenshaw for being against cryptocurrencies and even going as far as opposing Bitcoin ETFs. Choi called for the SEC to make changes in response to Crenshaw's stance. This statement was made in a post on December 7th.
Origin: Alexander Grieve
According to Alexander Grieve, who is the vice president of government affairs at the crypto investment firm Paradigm, the renomination of anti-crypto SEC commissioner Caroline Crenshaw by Senate Banking Chair Sherrod Brown is seen as a final gift for the crypto industry as he leaves office.
According to ETF analyst James Seyffart from Bloomberg, Crenshaw was not only a supporter of SEC chair Gary Gensler but was even more opposed to cryptocurrency than Gensler. This information was shared in a post on December 7th.
After the SEC approved spot Bitcoin ETFs in the United States on January 10th, Crenshaw, a newly appointed SEC commissioner in August 2020, criticized the agency's decision to allow the ETFs as "unwise and not in line with historical practices."