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According to reports, losses from cryptocurrency hacking and fraud have decreased in the third quarter of 2024, although Ethereum (ETH) remains the main target of hackers. Two major hacks in WazirX and BingX exchanges accounted for 69.5% of the total losses. Centralized financial platforms (CeFi) were responsible for 74.8 percent of all successful attacks, while decentralized financial platforms (DeFi) suffered 25.2 percent of losses. Compared to last year, the losses of Defi have decreased by 79.2% and the losses of centralized financial affairs have increased by 66.4%. Ethereum and China's Binance (BNB) have been the most targeted of attacks.
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PayPal announced that US businesses can now buy, sell and hold cryptocurrencies through their merchant accounts on the platform. This service is available in 49 US states except New York. Jose Fernandez da Ponte, senior vice president of blockchain and crypto at PayPal, said the decision was made in response to increased demand. In addition, PayPal has also provided the possibility of transferring digital currencies to foreign wallets for these businesses. This action could be an important step in increasing the adoption of digital currencies among American companies.
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Mira Murati, the chief technology officer of OpenAI, has resigned from the company after 6.5 years. The resignation is part of a wide-ranging change in OpenAI leadership that also includes the departures of Ilya Sutskever, John Schulman and the extended leave of absence of Greg Brockman. Sam Altman, CEO of OpenAI, praised Moratti's important role in transforming the company from an unknown research lab to a leading institution in artificial intelligence. At the same time, OpenAI is in talks to raise new capital, which could increase the company's value to $150 billion.
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With $100 billion in assets under management, asset management firm VanEck predicts that Solana (SOL) has the potential to reach 50% of Ethereum's (ETH) market cap. The company's research report shows that Solana's price can reach $330. "Solana processes 3,000 percent more transactions than Ethereum, has 1,300 percent more daily active users, and its transaction fees are almost 5 million percent cheaper," Van Eck said comparing Solana and Ethereum data. The company believes that both retail and institutional investors are becoming aware of Solana's benefits.
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A cryptocurrency analyst has warned that selling Bitcoin (BTC) at around $74,000 would be a disastrous mistake. He believes that fundamental factors such as the injection of liquidity by the Central Bank of China, the weakening of the US dollar index and the increasing interest of financial institutions in Bitcoin can cause a further increase in the price. Technically, Bitcoin is in a bullish pattern and breaking the $65,000-$66,000 resistance could push the price to higher levels. Also, BlackRock's approval to trade bitcoin exchange-traded fund options (ETF) and the interest of banks like BNY Mellon to hold bitcoin are positive signs for the future of this digital currency's price.
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