Did you know what happened in crypto today? Or are you still looking for the latest news and trends around crypto? Well, here your search can come to an end!
As reported by Mudrex, here are the latest news around top trends and current highlights in crypto regulation, Bitcoin price, blockchain, NFTs, DeFi, Metaverse and Web3, among others. Let's check them out!
Crypto highlights for today
So, what's new today in crypto? Did the crypto market see a rise in users? Or did we lose another benchmark? Let's check out the latest happenings!
ByBit Lost Nearly $1.5 Billion
ByBit, the second-largest exchange by trading volume, lost nearly $1.5 billion in a massive security breach. The hacker took control of a cold wallet and drained mETH and stETH, swapping them for ETH on decentralized exchanges. However, ByBit CEO Ben Zhou stated that all other cold wallets remain secure and the platform is solvent despite the loss.
Fed May Pause QT Soon
The Fed is nearing its goal of keeping about $3 trillion in bank reserves, meaning it may stop reducing its balance sheet soon. The U.S. Treasury needs to issue a large number of short-term bonds (T-bills) to rebuild cash reserves, but there’s no extra liquidity cushion left. Its officials want to return to the way bonds were managed before 2008, which could help keep financial markets stable.
Fed May Pause QT Soon | PR Handout
European Central Bank Going to Use Blockchain for Payments
The European Central Bank (ECB) is building a payment system using distributed ledger technology (DLT). This could pave the way for a central bank digital currency (CBDC), making transactions faster and more secure.
Phase 1 will integrate blockchain with the existing TARGET payment system, while Phase 2 will explore a long-term solution.
ECB is building a payment system using distributed ledger technology | PR Handout
Google Exploring Bitcoin Wallet Logins
A Web3 specialist revealed plans to integrate Google authentication with Bitcoin wallets, making access easier. The tech giant is partnering with Bitcoin network contributors to lower barriers and improve decentralized finance accessibility. Critics fear centralized control and data breaches, with Trezor advising users to avoid linking emails to wallets.
Google to get into Bitcoin wallet | PR Handout
