The cryptocurrency market is volatile, but there are still some interesting developments happening. In this article, we will take a look at some of the latest news and updates from the crypto space.
Market Update
The global cryptocurrency market cap is at $1.05 trillion, down 0.81% in the last 24 hours. Bitcoin’s price is hovering around $26,130. Market volatility is expected, and caution in trading is advised.
Ripple’s CBDC Involvement
Ripple, the company behind the XRP cryptocurrency, has revealed that eight countries, including Russia, Japan, and the United Arab Emirates, are building central bank digital currencies (CBDCs) on the XRP Ledger (xrpl). Ripple has been actively promoting xrpl as a platform for CBDCs, and it is possible that even more countries will adopt the technology in the future.
Security Concerns
Security is always a top concern in the cryptocurrency space. In a recent incident, the founder of Blockchain Capital lost $6.3 million worth of crypto in a SIM swap attack. SIM swap attacks are a type of social engineering attack where the attacker tricks the victim’s mobile carrier into transferring the victim’s phone number to a new SIM card that the attacker controls. This allows the attacker to gain access to the victim’s cryptocurrency accounts.
To protect yourself from SIM swap attacks, it is important to use strong passwords and two-factor authentication. You should also avoid using SIM cards for crypto phones and use hardware wallets to store your cryptocurrency.
Other Developments
In other news, crypto miners are diversifying into high-performance computing services for artificial intelligence. This is because the skills and infrastructure required for mining cryptocurrency are also valuable for AI applications.
Scammers are also using AI to create crypto botnets on platforms like Twitter. These botnets can be used to spread malware, spam, and other malicious content.
Crypto exchange Bitget has announced that all customers will be required to complete ID verification by October 1. This is due to concerns about fraud and money laundering.
Imperial College London has collaborated with AI startup Fueled AI to analyze the cryptocurrency market. The goal of this collaboration is to develop new tools and techniques for predicting cryptocurrency prices.
Finally, the death of the Shiba Inu dog behind viral memes, like Dogecoin, has been noted by the cryptocurrency community. The dog’s name was Kabosu, and it was 16 years old.
These are just a few of the latest cryptocurrency news and updates. The market is volatile, but there are still some interesting developments happening. It is important to stay informed about the latest news and updates to protect yourself from risks and make informed investment decisions.
Disclaimer: The information in this article is not financial advice. You should always do your own research before making any investment decisions.
