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Philipp Petkevitch
@petkevitch
What happened in the crypto industry last week (September 16 - 22)?
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Philipp Petkevitch
@petkevitch
1/ BingX Crypto Exchange Hacked: On September 20, BingX was hacked, initially with a $13.6 million suspicious transaction, later revised to $43.2 million. The Product Director confirmed the hack, stating losses were minimal. https://x.com/PeckShieldAlert/status/1836977299746381854 https://x.com/peckshield/status/1836927530449916132 https://etherscan.io/address/0xf7e8033366166f92eb477b7b38e0d47d47b43326 https://x.com/Vivien_BingX/status/1836940851873992845
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Philipp Petkevitch
@petkevitch
2/ Texas Court Dismisses Consensys Lawsuit Against SEC: On September 19, a Texas court dismissed Consensys’ lawsuit against the SEC. MetaMask developer filed the lawsuit in April 2024 to protect Ethereum from excessive SEC regulation. https://x.com/Consensys/status/1836882745630544015 https://x.com/Consensys/status/1783562212667453837
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Philipp Petkevitch
@petkevitch
3/ Prager Metis Settles with SEC: Prager Metis agreed to pay a total fine of $1.95 million to the SEC for multiple business conduct violations, including $745,000 to end the case regarding negligent auditing of FTX. https://www.sec.gov/newsroom/press-releases/2024-133
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Philipp Petkevitch
@petkevitch
4/ Federal Reserve Cuts Interest Rates: On September 18, the Federal Reserve cut interest rates by 50 basis points for the first time since 2020, now at 5%. https://tradingeconomics.com/united-states/interest-rate
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