Coindesk

The U.S. Securities and Exchange Commission (SEC) is closing its investigation into major non-fungible token marketplace OpenSea, the platform’s founder and CEO Devin Finzer said on social media.The regulator issued a Wells notice against OpenSea in August 2024, indicating it was planning on pursuing an enforcement action against it. The regulator alleged the platform may have been operating as an unregistered securities marketplace. The SEC’s move comes as the regulator is slated to vote on a deal negotiated with Coinbase to drop its lawsuit against the exchange, which is seen as a boon for the cryptocurrency industry and NFT creators.“This is a win for everyone who is creating and building in our space. Trying to classify NFTs as securities would have...

The Bybit hacker, supposedly a North Korean entity, is now one of the world's largest ether holders, which may have bullish implications for the cryptocurrency's spot price.According to data from Arkham Intelligence and Coinbase executive Connor Grogan, this malicious actor holds 489,000 ETH, valued at approximately $1.34 billion, constituting about 0.4% of ether's total supply, making it the 14th-largest Ether holder globally. That puts the hacker ahead of the Ethereum Foundation, Ethereum's CEO Vitalik Buterin and Fidelity. It's important to note that the addresses linked to this entity are being closely monitored and backlisted by exchanges, which means the hacker will likely struggle to offload these coins in the market.In simpler terms, the hacked ether supply is likely lost permanently....

Crypto exchange Bitget has transferred 40,000 ether (ETH), worth $105 million, to Bybit, offering crucial support to its industry counterpart in the wake of the over billion-dollar hack suffered by the exchange.The funds transferred are from Bitget's own reserves, not user deposits, which remain securely stored on the platform and can be cross checked through the proof of reserves, the exchange's CEO, Gracy Chen, said in a note shared with CoinDesk, while assuring more support if needed."At Bitget we strongly believe in supporting the community and everyone contributing towards the growth of crypto," Chen said.A suspected North Korean entity drained approximately $1.4 billion in ether from Bybit on Friday. The hack prompted an unprecedented wave of withdrawal requests from users,...

Arthur Hayes, BitMEX co-founder and major ether (ETH) holder, asked Ethereum co-founder Vitalik Buterin to rollback the network in order to assist hacked exchange Bybit, which lost nearly $1.4 billion in ether (ETH) on Friday."@VitalikButerin will you advocate to roll back the chain to help @Bybit_Official. My own view as a mega $ETH bag holder is $ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016 y not do it again?" Hayes said on X.Buterin was yet to reply as of time of publication. The Bybit hack came into light on Friday when on-chain analyst ZachXBT noted...

Bybit CEO Ben Zhou said Thursday that his exchange will not list the Pi Network's PI token, which was controversially released on Thursday, citing a Chinese police warning from 2023 that alleged the project was a scam targeting elderly people, leaking their personal information and leading to the loss of their pensions. "There are multiple other reports out there questioning the project legitimacy," Zhou posted on X. "Yes, I still think you are a scam, and no, Bybit will not list scam." The Pi Network didn't respond to CoinDesk's request for comments. The token went live alongside the project's mainnet release on Thursday. Users who "mined" tokens by clicking their smartphone screens once a day were finally able to transfer...