Crypto Whale Spends $24.7M On Ethereum-Based Altcoins Following SEC Approval

A crypto whale invested $24.7 million in Ethereum-based altcoins after the SEC approved a spot Ethereum ETH/USD ETF.

What Happened: The whale began accumulating altcoins like Lido LDO/USD, Uniswap UNI/USD, Aave AAVE/USD, Ethereum Name Service ENS/USD, and Fraxshare FXS/USD shortly after the approval, Daily Hodl reported on Monday. This move followed a previous purchase of 8,733 ETH at $3,054.56, resulting in an unrealized profit of approximately $6 million.

After the SEC’s approval, the whale deposited 19.75 million USDT to Binance and withdrew significant amounts of LDO, UNI, AAVE, ENS, and FXS, totaling $24.7 million. This resulted in an unrealized profit of around $1.1 million.

Another…

Read more on Benzinga

We need to talk about the dangers of custody on exchanges

A decade has passed since the infamous hack of major exchange Mt. Gox. The exchange’s subsequent collapse lost 7% of all bitcoin at the time — the equivalent of approximately 45 billion dollars today. It was one of the first events to threaten the very existence of the crypto ecosystem, but certainly not the last.

The industry hasn’t learnt from this catastrophe — rather quite the opposite. 

We’ve seen plenty more similar incidents in recent years. In 2023 alone, the industry suffered losses exceeding $1.8 billion due to hacks. Large platforms like Binance have given in to pressure from institutional players when it comes to holding assets with independent custodians, but not…

Read more on Blockworks

LATEST: Ethereum Plans Pectra Upgrade Rollout in Q1 2025

The march of progress with Ethereum continues unabated, and now the core developers have an eye on the first quarter of 2025 to release the Pectra upgrade. This follows the successful Dencun update back in March of last year. In two substantial ways, Pectra will improve Ethereum. First, it brings in the Ethereum Virtual Machine Object Format, including approximately 11 improvement proposals that consolidate the EVM code for both Layer 1 and Layer 2. As important is the incorporation of EIP-7251, increasing the maximum effective balance for single validators to a big—get this—2,048 ETH in one giant leap. This adjustment has been made to smoothen the operations process and give a chance to have fewer, but much higher-staking, validators, which simplifies the state of the network.

And yet more improvements are afoot, thanks to EIP-7702, proposed by Ethereum co-founder Vitalik Buterin, which would allow Ethereum account addresses to become smart contract wallets temporarily during transactions and then revert to their original state post-transaction—so much the better for user flexibility and with a better veil of security.

Source

Apple Bitcoin Adoption | How It Would Look Like

Apple has its wallet built into every copy of iOS. Currently it is useless for anyone without a Credit Card, but this could change with a single integration, bringing billions of people into the Bitcoin ecosystem.

Here is what it could look like…

How Apple bitcoin Wallet Would Look Like

First, you add your Wallet of Satoshi just as you would a credit card. Two taps and it’s done.

Wallet of Satoshi on Apple

You are instantly ready to start spending with Bitcoin through your Apple Wallet. It will be as simple as that, as far as you are concerned.

What just happened?

Apple Wallet just connected to the copy of Wallet of Satoshi on your iPhone.

Apple…

Read more on bitcoinnews