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Today in the world of cryptocurrency, the Cardano Foundation's X account was breached by hackers. The president of El Salvador announced that the country has potentially earned over $330 million in profits from its Bitcoin investment. Additionally, numerous executives in the crypto industry have expressed displeasure with the impending renomination date 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 cryptocurrency called "ADAsol", which attracted around $500,000 in trading activity before it failed.
After promoting the fake token, the hacker posted another fake message saying that the Cardano Foundation would stop supporting ADA because of investigations by the SEC.
A deceptive post was made from an account belonging to the Cardano Foundation that had been compromised. The information was sourced from ZackXBT.
The Cardano Foundation is currently in the process of recovering control of their social media account after both posts were removed.
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 fixed.
The value of Bitcoin in El Salvador has increased to over $300 million. President Nayib Bukele of El Salvador pointed out the country's profits from its Bitcoin investments on social media when the cryptocurrency reached a milestone of over $100,000 for the first time.
Bitcoin (BTC) hit $100,000 on December 5, marking a significant milestone that was met with excitement in the cryptocurrency community. Autism Capital, a crypto account on X, requested Bukele to reveal El Salvador's Bitcoin holdings to prove critics wrong. In response, Bukele shared the country's BTC portfolio on X.
Origin: Nayib Bukele
The most recent update from Bukele indicates that the country has invested almost $270 million in Bitcoin since first accepting the cryptocurrency. The report reveals that no Bitcoin has been traded, and the current unrealized profits are now over $333 million.
The crypto industry is concerned about the upcoming vote on whether to renominate SEC Commissioner Caroline Crenshaw, who has shown strong opposition towards crypto. Many industry leaders are expressing their disappointment at the potential of her being reelected.
In January, Crenshaw was one of the two SEC commissioners who opposed the approval of Bitcoin exchange-traded funds (ETF) for immediate trading.
Emilie Choi, the president and COO of the crypto exchange Coinbase, expressed dissatisfaction with Caroline Crenshaw's stance against cryptocurrency, particularly her opposition to Bitcoin ETFs. Choi believes that the SEC needs to make changes in response to this. 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 Senate Banking Chair Sherrod Brown is attempting to quickly push through the renomination of SEC commissioner Caroline Crenshaw, which he sees as a final favor to the crypto industry before leaving office.
According to ETF analyst James Seyffart from Bloomberg, Crenshaw was not only a supporter of SEC chair Gary Gensler but was actually more strongly against cryptocurrency than Gensler.
After the SEC approved the trading of Bitcoin ETFs in the US on January 10th, Crenshaw, a newly appointed SEC commissioner in August 2020, criticized the decision, calling it "unwise and not in line with historical precedent."