#will

Yesterday, the Cyvers team raised alarms over a questionable HTX transaction. Their concerns grew when there was no communication in return. Fast forward to today, the damage is clear: 5,000 ETH, or $7.9 million, is gone, snatched by a hacker. The HTX team has proposed a 5% reward for the return of the funds. Should the hacker decline, they plan to engage law enforcement. "Compared to the $3 billion in assets held by Huobi HTX users, $8 million is a small number. This is only equivalent to two weeks of revenue from the HTX platform," Justin Sun stated in X. The underlying issue behind the breach has been eliminated, he adds, and the exchange will reimburse the lost amount.

The likelihood is high, at 99%, that the interest rate will stay the same. This is because the Federal Reserve is still gauging the effect of the current rate on the economy. Following the decision, there will be a press conference by Jerome Powell 30 minutes later. Given the potential for market shifts from his remarks, traders are advised to hold off on transactions.

FTX's portfolio liquidation is unlikely to shake the market significantly, as noted by Coinbase in their latest weekly report. They cited multiple reasons supporting this claim. 1. Weekly Sell Limits: Initially, liquidations are capped at $50 million per week for digital assets. This limit will gradually increase to $100 million in subsequent weeks. Any permanent increase to a maximum limit of $200 million requires approval from two committees representing FTX debtors. 2. Insider-Affiliated Tokens: Stricter controls govern the sale of “insider-affiliated” tokens, necessitating a 10-day advance notice to the same committees. 3. Locked Holdings: A significant portion of FTX’s SOL holdings, along with some other tokens, are locked until approximately 2025 due to token vesting schedules, limiting their availability for sale. 4. Hedging Measures: FTX has the option to hedge its sales of BTC, ETH, and other debtor-identified assets through an investment advisor, contingent on prior committee approval. These precautions ensure a measured and controlled approach to asset liquidation.

NYDFS wants to increase transparency from cryptocurrency companies operating in the state, particularly in their processes for listing and delisting cryptocurrencies. The new framework will require firms to develop their coin-listing policies in three key areas: governance for the coin-listing process, risk assessments of coins, and procedures for monitoring coins. The framework will also require firms to provide detailed information on their criteria and decision-making process for delisting a coin. The proposed legislation is open for public comments and will remain so until October 20th.

"We will compensate users for up to 50% of the stolen assets. Additionally, 'tokenized claims' will be issued, with an intent for Mixin to buy them back from future profits." Moreover, the BTC.TOP mining pool's CEO is adamant that the bitcoins held within Mixin's protocol shouldn't have gone missing. He emphasized that Mixin's standard practice was to keep their bitcoins in cold storage, making them impervious to the cloud server breach that compromised their hot wallets.

Migration to POL should be undisturbing for all - a promise Polygon aims to keep for its developers and users. Reimagining the MATIC token, they propose it to function both as gas and as the main token within the Polygon environment. And yes, POL staking is on the table. Continuity is key: the redefined POL token's code will preserve its features, safeguarding compatibility. The grand finale, Polygon 2.0's definitive update, is slated for a next-year debut.