Among the highlights of this week is the alleged hack of a DeFi on Binance Smart Chain that leaves more than $ 30 million in losses. This, while PayPal offers more details about its business plans with Bitcoin, and the financial conglomerate Citigroup presents a report in which it shows its positive view on the cryptocurrency.

The price of Bitcoin returned to the $ 50,000 range, following last week’s slide. On average BTC recovered 9% of its value. At the time of writing this article, BTC is trading at USD 49,682, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.

With CriptoNoticias, those interested can keep up to date on the changes in the market prices of bitcoin and ether in relation to their local currency. To do this, they can visit the BTC and ETH Prices section, which has a calculator to make conversions quickly and easily to their national currency.

These are the most outstanding news:

The American financial conglomerate Citigroup, through its subsidiary Citi GPS, published a report in which it spoke about the global reach of Bitcoin. He said that its neutrality, security, traceability and decentralized design will play in its favor for years to come. She stressed that her attributes could make her in the preferred currency for international trade. Meanwhile, JPMorgan released the results of a survey conducted among 3,400 investors from 1,500 institutions. It reveals that 11% of institutions have already invested in bitcoin, while 22% of respondents responded that their organizations would be willing to invest in cryptocurrency-based instruments. PayPal CEO Dan Schulman detailed the company’s plans with a new business unit dedicated to bitcoin, whose mission, he explained, would be to promote the utility of digital currencies. The new unit is being guided by an advisory council that includes experts in technology, cryptocurrencies and regulation. Meerkat Finance, a service for decentralized finance (DeFi), suffered a fake hack that resulted in the diversion of more than 31 million dollars in cryptocurrencies. The alleged theft occurred on March 4, 1 day after its activation on the Binance Smart Chain (BSC). Vault 1 of the platform for yield farming was drained, with 73,635 BNB being stolen, with a value of 17.6 million dollars. The rest of the funds involved were $ 13.9 million in stablecoin Binance USD, according to a report by Crypto Briefing. Hours after the event, one of the project’s developers claimed that the alleged theft had actually been an experiment to test people’s greed and that the money would be refunded. According to metrics from blockchain research firm Glassnode, Bitcoin miners are keeping more cryptocurrencies than they are selling in the markets. The data shows that between December 28, 2020 and February 25, miners exhibited a negative balance. That is, the sales were higher than the amount of cryptocurrencies they kept in their possession. This trend does not only apply to miners, because even with the price drop from $ 58,000 to about $ 43,000, the strength of this cycle of Bitcoin has kept it above previous bull markets. Glassnode adds that since March 12, 2020, the liquidity of bitcoins in the market has been declining steadily, maintaining the trend of not moving coins and hoarding them for the long term. Amazon Web Service (AWS) announced that from its blockchain network management tool, Amazon Manager Blockchain, Ethereum nodes will be accessible. This new facility will allow AWS customers provisioning from Ethereum nodes, allowing them to connect to the main blockchain network and the Rinkeby and Ropsten test networks. Meanwhile, the Aurica company, specialized in the sale of gold and silver in Chile, added the AurusGOLD (AWG) token to its catalog. It is a currency developed in Ethereum, whose price maintains parity with one gram of gold. Storj, a network for decentralized cloud storage, included in its zkSync protocol, a layer 2 scalability solution for Ethereum based on zk-Rollups. They plan to take advantage of this technology so that their storage node operators can lighten the weight and cost of transactions. It was precisely on this issue of high commissions that Vitalik Buterin, co-founder of Ethereum, proposed, together with developer Martin Swende, the EIP-3298 enhancement. Both suggest eliminating “gas rebates” in two functions. One of them allows operators to accumulate “cheap” gas within a contract, while the second serves to destroy the contract. Jack Dorsey, Co-Founder and CEO of Twitter put his first tweet up for sale in the form of a non-fungible token (NFT) on the Ethereum-based platform created on the Valuables social network, by Cent. The message was written in March 2006 and is now auctioned for $ 2 million. Likewise, the “Homer Pepe”, developed in 2016 at Counterparty, was sold for the equivalent of USD 320 thousand dollars paid in ether (ETH). Meanwhile, the Injective Protocol company bought an original Banksy work, then project members burned the material. Later they turned it into an NFT that currently runs on the Ethereum blockchain, and which is being auctioned through OpenSea as a digital work. On NFTs, Charlie Lee, creator of Litecoin, said that they will end up being worthless. He compared them to the ICO (initial coin offerings) rush of 2017; and the rise of altcoins, peaking in 2013. This week, Bradley Garlinghouse, CEO of Ripple, sent a letter to US District Judge Analisa Torres. The brief contains a motion to dismiss the lawsuit filed against him by the US Securities and Exchange Commission (SEC) Garlinghouse claims the allegations are a regulatory overreach. In the letter, he maintains that the SEC’s allegations, which consider XRP a security, are wrong.

If you want to know the meaning of several words in the crypto world terminology, you can consult them in the extensive CryptoNews Glossary.

Cryptojacking: the word comes from “crypto” (for cryptocurrencies) and “hijacking” (to hijack). This method involves the unauthorized use of your equipment (be it PC or mobile) and, therefore, of your electricity, for the mining of cryptocurrencies that go directly to the attacker.

Cryptotutorial of the week:

LocalCryptos is a platform specialized in the P2P exchange of bitcoin and Ether, but with the particularity of offering transactions with escrow without custodian and end-to-end encrypted communications (chat). In this tutorial we will show you how to use LocalCryptos to buy and sell these cryptocurrencies.


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