AI-powered summaries of the day's top crypto events
IBM has announced significant progress in its quantum computing capabilities, claiming a 'trusted quantum advantage' that could potentially challenge existing cryptographic systems, including those used in cryptocurrencies. This development underscores the urgency for the crypto industry to develop quantum-resistant cryptographic solutions.
Ostium, a DeFi platform, experienced a $24 million exploit attributed to an off-chain breach, rather than a flaw in its smart contract. The platform assured that trader collateral remains unaffected and is planning a recovery strategy for liquidity providers.
A shareholder rebellion at Satsuma Technology Plc led to the decision to liquidate its Bitcoin holdings, resulting in a significant loss of £39,984 per coin. The UK-listed company will return the capital to shareholders following the approved proposal.
Binance.US is set to apply for a designated contract market license from the Commodity Futures Trading Commission (CFTC) in August. This move is part of the company's strategy to expand its offerings to include a prediction market platform.
Recent price volatility in Bitcoin and Ether, influenced by the Federal Reserve's rate decision, resulted in the liquidation of $286 million in leveraged bets. Approximately 90,000 traders were affected, with losses evenly distributed between bullish and bearish positions.
A report by Wintermute reveals that institutional trading now accounts for 72% of crypto market activity, contributing to decreased volatility and selective altcoin flows. This trend highlights the growing influence of institutional investors in the crypto space.
Morgan Stanley's newly launched Ethereum and Solana ETFs have outperformed competitors, securing $33 million in inflows on their second trading day. The Ethereum Trust and Solana Trust received $14.03 million and $19.03 million, respectively.