Japanese cryptocurrency exchange Liquid has suspended asset deposits and withdrawals after its hot wallets were hacked in a security breach.

Twitter CEO Jack Dorsey has revealed on the microblogging platform he is now mining bitcoin by trying out a service that lets users purchase a bitcoin miner. The service also hosts the miner in its own facilities.

Nasdaq-listed cryptocurrency exchange Coinbase has amassed a $4.4 billion stockpile of cash to ensure it can continue to grow and invest in the worst-case scenario of another “crypto winter.”

Sponsored: Regulated Hybrid Broker Global GT has released the GTi12 Index, an index that is comprised of 12 CFD Cryptos in 1.

Top stories in the Crypto Roundup today:

• Japanese Crypto Exchange Liquid Hacked for Estimated $80 Million
• Twitter’s Jack Dorsey Reveals He is Mining Bitcoin
• Coinbase Stockpiles $4 Billion to Weather Crypto Winter
• How to Stake Solana: Step-by-Step
• Sponsored: What’s better than a Crypto? 12 Cryptos in 1! The GTi12 Index is out now by Global GT.

Japanese Crypto Exchange Liquid Hacked for Estimated $80 Million

Japanese cryptocurrency exchange Liquid has suspended asset deposits and withdrawals after its hot wallets were hacked in a security breach.

The firm confirmed the breach on microblogging platform Twitter saying its wallets were compromised and that it was moving the remaining assets into cold wallets. It added:

"We are currently investigating and will provide regular updates. In the meantime deposits and withdrawals will be suspended."

In a follow-up tweet, Liquid pointed to four addresses believed to be associated with the hacker. These were addresses for BTC, ETH, TRX, and XRP. While the exchange did not reveal the extent of what was stolen, the addresses it pointed to received $80 million in cryptoassets.

The Bitcoin addresses received 106 BTC worth $4.7 million, while the Ethereum address received $69 million in ETH and ERC-20 tokens. Both the TRX and XRP addresses received a total above $10 million.

Twitter’s Jack Dorsey Reveals He is Mining Bitcoin

Twitter CEO Jack Dorsey has revealed on the microblogging platform he is now mining bitcoin by trying out a service that lets users purchase a bitcoin miner. The service also hosts the miner in its own facilities.

Responding to a user, Dorsey pointed out he was “trying mining with Compass Mining,” referring to a service that lets users buy top-tier cryptocurrency miners, but finds a facility to deploy them in.

The user is billed for electricity costs and the miner, but keeps the funds earned by the machine. A representative of the firm has clarified its model is to “allow anyone to mine Bitcoin with access to the same sorts of power costs, hardware supply, and rackspace that the world's largest and most heavily financed miners enjoy.”

According to its website, deploying a single mining rig starts at $8,200 with wait times extending into May 2022.

Coinbase Stockpiles $4 Billion to Weather Crypto Winter

Nasdaq-listed cryptocurrency exchange Coinbase has amassed a $4.4 billion stockpile of cash to ensure it can continue to grow and invest in the worst-case scenario of another “crypto winter.”

At the end of June, Coinbase’s cash reserves reportedly stood at $4.36 billion, up from $1.1 billion at the end of last year. Speaking to the Wall Street Journal, Coinbase’s chief financial officer Alesia Haas said:

• “We want to ensure that we maintain those cash reserves so that we can continue to invest and continue to grow our products and services in the event that we go into a crypto winter.”

Coinbase has thrived with a surge in trading over the last year. The firm reported net income of $1.6 billion for the second quarter, compared to a net income of $32 million in the same period in 2020.

Haas also revealed the stockpile could be used for acquisitions.

How to Stake Solana: Step-by-Step

Solana is a high-performance blockchain founded by former Qualcomm, Intel, and Dropbox engineers that uses a delegated Proof-of-Stake (dPoS) consensus algorithm. The network uses a unique method of ordering transactions to significantly improve its speed and throughput.

The cryptocurrency has been red-hot, recently moving past its previous all-time high and breaking through the $70 mark. As interest in it grows, many are looking to learn more about SOL and its network.

In decentralized networks like Solana, anyone can become a validator if they desire. As more and more people stake their Solana to different validators, not only does the total amount of staked Solana increase but so does network security. Staking rewards users with SOL.

Staking Solana is as easy as 1, 2, 3. To begin, you will need to have some Solana tokens - if you don’t have any Solana already, then you can purchase them via popular cryptocurrency exchanges.

In our in-depth guide, we cover how to stake Solana step by step.

What’s better than a Crypto? 12 Cryptos in 1! The GTi12 Index is out now by Global GT.

Regulated Hybrid Broker Global GT has released the GTi12 Index, an index that is comprised of 12 CFD Cryptos in 1.

The research and development team of Global GT combined their extensive knowledge to create the GTi12 Index, a totally new asset class and instrument that is now available for trading for Global GT clients.   

The GTi12 Index has gained traction rapidly, since the ability to trade 12 CFD Cryptos in 1 index that is available exclusively on the Global GT MT5 platform (8 asset classes are available in total), has captured the interest of FX, CFD, Crypto / altcoin traders.    

The real time pricing data of each constituent derives from Global GT’s sophisticated liquidity aggregation engine. Unlike more traditional indices that are price-weighted taking into consideration a simpler arithmetic method for tracking price movements, the GTi12 Index is formed based on a geometric calculation method, that reflects both exponential and varying growths of cryptos over a defined period of time. The same is applied for all selected cryptos, whereby all 12 cryptocurrencies have an equal share and impact on the price of the Index.

The current GTi12 Index is composed of the BTC, ETH, XRP, LTC, BCH, BSV, XLM, EOS, DOT, BNB, TRX, and ADA. The Index is reviewed quarterly whereby the cryptos to be selected will depend on their market cap, ranking, liquidity and other factors, as determined by the technical experts of Global GT.

The GTi12 Index can be traded with low spreads and a leverage of up to 1:100 in Standard and ECN accounts. Standard account holders are eligible of receiving various Deposit Bonuses based on their consecutive transfer-ins, where they may earn up to US $6,600 in trading credits.

Clients of Global GT also have the advantage to deposit and withdraw in both Fiat and Cryptos, with zero transaction fees.

Global GT does not accept residents of certain jurisdictions such as United States of America, Canada, EU countries, Iran, North Korea, and Belize.

Risk Disclaimer: CFDs are complex instruments and carry a high level of risk of losing money rapidly due to leverage.

Press Release

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.