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In recent news in the cryptocurrency world, the Cardano Foundation's X account experienced a security breach, El Salvador has seen a significant increase in the value of its Bitcoin investment, and various leaders in the cryptocurrency industry have expressed concerns about Caroline Crenshaw's potential renomination as a commissioner for the United States Securities and Exchange Commission.
The Cardano Foundation's X account was compromised on December 8th by a malicious actor who shared harmful links on the Foundation's social media platform.
At first, the hacker made a post promoting a fake token named "ADAsol" that gained around $500,000 in trading activity before failing.
After advertising the fake token, the hacker made another deceptive post stating that the Cardano Foundation was going to stop supporting ADA (ADA) because of an investigation by the SEC in the United States.
A deceptive post was made from the compromised X account of the Cardano Foundation. This information was sourced from ZackXBT.
The Cardano Foundation is currently in the process of recovering access to their social media account after both posts were removed.
It is advised for users to avoid the account and refrain from clicking on any links from the Cardano Foundation X page until the problem has been completely fixed.
El Presidente de El Salvador, Nayib Bukele, resaltó en redes sociales las ganancias no realizadas del país en sus inversiones en Bitcoin después de que la criptomoneda superara los $100,000 por primera vez, alcanzando un total de más de $300 millones.
Bitcoin (BTC) hit $100,000 on December 5, causing excitement among the cryptocurrency community. Autism Capital, a crypto account on a platform called X, requested that Bukele share El Salvador's Bitcoin holdings to show off to critics. Bukele then shared the country's BTC portfolio on the same platform in response.
Origin: Nayib Bukele
The most recent report from Bukele reveals that the country has invested around $270 million in Bitcoin since first adopting the cryptocurrency. The data indicates that no Bitcoin has been sold, and the total potential gains now surpass $333 million.
The cryptocurrency industry is concerned about the upcoming vote on whether to reappoint SEC Commissioner Caroline Crenshaw, who has expressed strong opposition to cryptocurrencies. Many leaders in the industry are unhappy about the prospect of her being reelected.
Crenshaw was one of the two SEC commissioners who opposed the decision to approve Bitcoin exchange-traded funds (ETFs) in January.
Emilie Choi, president and COO of crypto exchange Coinbase, criticized Caroline Crenshaw for her negative stance on cryptocurrency, particularly Bitcoin ETFs. Choi believes the SEC needs to make changes. This was mentioned in a post on December 7.
Origin: Alexander Grieve
According to Alexander Grieve, the vice president of government affairs at Paradigm, the renomination of anti-crypto SEC commissioner Caroline Crenshaw by Senate Banking Chair Sherrod Brown is seen as a final attempt to hinder the cryptocurrency industry.
According to Bloomberg's ETF analyst James Seyffart, in a post on December 7th, Crenshaw was not only a supporter of SEC chair Gary Gensler but also held even stronger anti-crypto views than Gensler himself.
After the SEC granted approval for spot Bitcoin ETFs in the US on January 10th, Crenshaw, who became an SEC commissioner in August 2020, criticized the decision, calling it "unsound and lacking in historical context."