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In recent news in the cryptocurrency world, the Cardano Foundation's X account was compromised by hackers. The president of El Salvador has revealed that the country has made over $330 million in profits from its Bitcoin investment. Additionally, some leaders in the crypto industry have expressed concerns about the potential reappointment of Caroline Crenshaw as a Commissioner for the United States Securities and Exchange Commission.
The Cardano Foundation's X account was compromised by a hacker on December 8th. The hacker shared 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 worth of trades before it failed.
After promoting a fake token, the hacker made another false post saying that the Cardano Foundation would stop supporting ADA because of investigations from the SEC.
A post that was found to be fraudulent was made from an account belonging to the Cardano Foundation. The source of this information is ZackXBT.
Both posts were removed, and the Cardano Foundation is currently taking steps to regain access to the social media account.
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 resolved.
The value of Bitcoin in El Salvador has increased to over $300 million, according to President Nayib Bukele. He shared on social media that the country has made significant profits from its investments in Bitcoin, as the cryptocurrency reached a value of over $100,000 for the first time.
Bitcoin (BTC) hit a milestone on December 5 by reaching $100,000, causing excitement among the cryptocurrency community. Autism Capital, a crypto account on X, requested Bukele to reveal El Salvador's Bitcoin holdings in order to prove doubters wrong. Bukele obliged by sharing the country's BTC portfolio on X.
Origin: Nayib Bukele
In the most recent update from Bukele, it was revealed that the country has invested almost $270 million in Bitcoin since first embracing the cryptocurrency. The report indicates that no Bitcoin has been sold, and the unrealized profits 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 openly critical of cryptocurrencies. Many executives in the industry are frustrated at the prospect of her being reelected. The vote will take place on December 11th by the US Senate Banking Committee.
In January, Crenshaw was one of the two commissioners from the SEC who did not support the approval of spot Bitcoin exchange-traded funds (ETF).
Emilie Choi, president and COO of crypto exchange Coinbase, criticized Caroline Crenshaw for her negative stance on cryptocurrency, specifically mentioning her opposition to Bitcoin ETFs. Choi believes that the SEC needs to make some changes.
Origin: Alexander Grieve
Alexander Grieve, the vice president of government affairs at the crypto investment firm Paradigm, described the renomination of SEC commissioner Caroline Crenshaw as a final attempt to hinder progress in the crypto industry by Senate Banking Chair Sherrod Brown.
According to Bloomberg ETF analyst James Seyffart, in a post on December 7th, it was stated that Crenshaw was not only a supporter of SEC chair Gary Gensler but was even more strongly against cryptocurrency than Gensler himself.
After the SEC approved spot Bitcoin ETFs in the United States on January 10th, Crenshaw, who became an SEC commissioner in August 2020, expressed disagreement with the decision, stating that allowing the ETFs was not based on sound reasoning and was not in line with historical practices.