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$500M WBTC Burned in the Wake of Coinbase’s Delisting Move
Five days ago, Coinbase announced plans to remove wrapped bitcoin (WBTC) from its platform on Dec. 19, 2024. In the days following the announcement, the WBTC supply has contracted. Wrapped Bitcoin’s Supply Drops by 5,844 Coins in 8 Days On Nov. 16, the WBTC supply on Ethereum was recorded at 146,734 coins. Fast forward to today, Nov. 24, and that figure has dropped to 140,890 WBTC—a reduction of 5,844 coins. Adding to the intrigue, btcparser.com’s Ethereum Transaction Monitor flagged a 5,182.34 WBTC burn transaction. Meanwhile, Ashley, known as @mrsthreshold on X, highlighted the burn in a post. She stated: Huge...
Major Cryptos Tumble as Analysts Remain Uncertain About Market Outlook
Bitcoin and major cryptocurrencies like ETH and SOL see declines amid global economic and political tensions. Swissblock notes market resilience but advises caution due to increased risk and potential for ambiguous market signals. Aussie Analyst Jason Pizzino highlights ongoing market fear as beneficial, potentially stabilising against rapid, greed-driven fluctuations. Bitcoin and several major cryptocurrencies are back in the red, with BTC falling 4.16% in the past 24 hours, ETH down 3.25% and SOL losing 7.81%. This comes after the market crash last Monday which caused hundreds of millions in liquidations. Related: Thailand SEC Launches Digital Asset Sandbox to Propel Crypto...
Indian Crypto Exchange WazirX To Roll Back All Trades and Restore Balances Following $230,000,000 Hack in July
Indian crypto exchange WazirX is reversing all trades and restoring customer balances after the platform was hacked to the tune of hundreds of millions of dollars in July. In a new thread on the social media platform X, WazirX says that after listening to the community, it has decided to roll back all trades made after the stoppage of withdrawals last month and restore all associated account balances. “All users will have their portfolio balances on the WazirX platform restored to what they were on 18 July 2024, 1 PM IST. This restoration will be carried out over the next...