The Daily Crypto Brief!
Bitcoin volatility? Now that’s got a soundtrack!
GM readers! Cryptocappy is back again to deliver you the latest updates from crypto world. Before we dive in, here’s something fun to kick things off!
Drake Says His Love Life Moves Like Bitcoin—Unstable and Wild!
Grammy-winner Drake just released a new song called What Did I Miss? where he compares his messy love life to the ups and downs of Bitcoin. In one line, he says, “I look at this like BTC, could be down this week, then I’m up next week.”
$8.6B Bitcoin Transfer Sets Off Alarms—Hack, Gov Deal, or Major Upgrade?
A huge amount of Bitcoin—worth $8.6 billion—was suddenly moved on July 4. The coins came from eight wallets that hadn’t been touched in over 14 years. This surprise transfer of 80,009 BTC got the crypto world buzzing.
Some people think it might be a government deal or even a hack. But a crypto research firm called Arkham believes it was likely just a wallet upgrade. Meanwhile, a Coinbase exec mentioned the possibility of a hack too. No one knows for sure why the Bitcoin was moved, but the event has definitely sparked fresh discussions in the crypto space.
$400 Million in Crypto Confiscated by US Secret Service in Major Bust
In the past 10 years, the US Secret Service has taken control of nearly $400 million in cryptocurrency as part of its efforts to stop online scams.
A special team called the Global Investigative Operations Center (GIOC) has been key in tracking down illegal funds. They use tools like blockchain analysis and online data to catch the bad actors. Many of these cases involve fake crypto investment platforms that trick people into investing, then disappear with their money.
Toncoin Rises as UAE Launches Crypto-Linked Golden Visa Program
Toncoin (TON), the main token used by The Open Network, jumped more than 10% in price. The spike came after the project announced a special Golden Visa program with the UAE. Through this program, people can get long-term residency in the UAE by locking up (staking) cryptocurrency, instead of buying property or showing a high income.
Ethereum Developers Suggest Gas Limit to Tackle DoS Risk
Ethereum has received a new proposal called EIP-7983 to help protect the network from Denial of Service (DoS) attacks and make it more stable. The goal is to stop very heavy transactions from slowing down or disrupting the network, while still allowing complex actions like creating smart contracts or using advanced DeFi features.
The developers believe this change strikes a good balance between flexibility and fairness.
That’s a wrap for today folks! We will be back tomorrow with more updates. Have a great day ahead!
