Bitcoin Navigates Political Acceptance and Market Shifts, While Ethereum Faces Security Threat
Bitcoin Navigates Political Acceptance and Market Shifts, While Ethereum Faces Security Threat
The crypto market presents a mixed landscape, with Bitcoin demonstrating potential to win over US voters by aligning with diverse political values through financial inclusion and energy grid strengthening. Market analysts advise calm regarding recent Bitcoin whale sales, categorizing them as typical profit-taking in a late-stage cycle. However, the mining sector sees a shift as Bitfarms plans to wind down Bitcoin mining operations to pivot into AI, leading to an 18% stock plunge. On the security front, a malicious 'Safery: Ethereum Wallet' extension has been found actively stealing user seed phrases from the Chrome Web Store, posing a significant risk to Ethereum users. In related news, Coinbase has strongly criticized proposed bans on rewards tied to stablecoin payments, labeling such restrictions as 'un-American'.
Bitcoin’s ability to boost financial inclusion, allow transactions without government interference, and strengthen the energy grid means it can align with the values of nearly any voter.
A malicious “Safery: Ethereum Wallet” extension is currently live on the Chrome Web Store, using a crafty backdoor to exfiltrate seed phrases. Here's how it works.
Analysts at Glassnode argue that the recent wave of Bitcoin whale sales is a typical part of a late-stage crypto cycle when older hands take profits.
Coinbase Institute has criticized banking groups for asking regulators to prevent merchant rewards for stablecoin customers, arguing the request has no merit under the GENIUS Act.
Bitfarms said it plans to shift its Bitcoin mining sites over the next two years and convert them to power AI, starting with its major site in Washington.