Harmony offers $1M bounty, but is it big enough?

The Harmony layer-1 blockchain project team has offered a bounty equal to just 1% of the $100 million in crypto stolen from the Horizon Bridge hack last week.  Harmony tweeted on June 26 that the team had committed $1 million for the return of the funds that were stolen from the Horizon Bridge on June 23. It added, “Harmony will advocate for no criminal charges when funds are returned.” We commit to a $1M bounty for the return of Horizon bridge funds and sharing exploit information. Contact us at whitehat@harmony.one…

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Could NFA become the next big acronym in the crypto space?

Airdrops have become the bread and butter of the crypto world — for good reason. They’re an indispensable marketing tool for up-and-coming projects that want to create a buzz around their ecosystems. Done right, distributing free tokens to the public can help elevate demand — and unlock big benefits for recipients. After all, if these altcoins end up being listed on major exchanges at a later date, their value could explode. Unfortunately though, downsides have started to emerge. These campaigns aren’t just reaching enthusiasts who passionately believe in what a…

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Polygon price jumps 60% in four days amid ‘pretty big’ MATIC accumulation

Polygon (MATIC) took a break from its prevailing bearish course, posting one of sharpest rebound in the crypto market this week. Notably, MATIC’s price has risen to $0.50 this June 23, four days after hitting $0.317, its lowest level since April 2021. This amounts to roughly a 60% gain, surpassing the performances of even Bitcoin (BTC) and Ether (ETH) in the same timeframe.  MATIC/USD daily price chart. Source: TradingView Nevertheless, MATIC is still down significantly from its December 2021 high of $2.92, coinciding with the overall crypto bear market and…

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LUNA 2 price jumps 90% ahead of big Binance airdrop

The price of LUNA briefly spiked around 90% overnight to an intraday high of $11.33 ahead of Binance’s airdrop, but has since dropped back to around $8.26 at the time of writing. At current prices, as per CoinGecko data, the increase to $8.26 represents a 35% gain over the past 24 hours. Overall, however, the price has tanked 56% since launching on the weekend at an opening price of $18.87. Members of the community posted screenshots of the price jumping as high as $12 on the MEXC Global exchange, with…

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Smart Money is betting big on Web3, layer 2, May 19-25

Billions and billions. That’s what venture capitalists are spending to get ahead of the curve in crypto. Their latest fixation is Ethereum layer-2 scaling solutions and Web3, an umbrella term that describes the next stage of the internet’s evolution. So, while the cryptocurrency market is in a state of extreme fear, smart money investors — TradFi folks who invest with expert knowledge — continue to pour countless sums into the space.  This week’s Crypto Biz newsletter gives you the latest funding stories from the world of blockchain and explores interesting…

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Ethereum Bears Aim Big After Recent Breakdown Below $2.5K

Ethereum started a major decline from the $2,700 zone against the US Dollar. ETH dived below $2,550 and might accelerate lower below the $2,420 support. Ethereum started a major decline after it failed to surpass $2,700. The price is now trading below $2,550 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,490 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further if there is a close below the $2,420 support zone. Ethereum Price Takes…

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Avalanche rebounds 25% in five days as AVAX price tests key level — big rally ahead?

Avalanche (AVAX) has rebounded strongly five days after testing a key inflection area as its support. Now, the AVAX/USD pair faces the possibility of continuing its upside retracement move further into Q2. A 30%-plus move ahead? AVAX’s price surged to almost $69.50 on May 5 from nearly $55 on April 30, a 25% jump. Interestingly, AVAX’s rebound move surfaced inside the same support area ($54-60 range) that had preceded a 100% and a 175% price rally in the January 2022-April 2022 and the October 2021-November 2021 session, respectively. AVAX/USD weekly…

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The creator economy will explode in the Metaverse, but not under Big Tech’s regime

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century. With the news that Meta plans to take a nearly 50% cut of virtual asset sales in Horizon Worlds, it will not be surprising if independent artists and content creators turn away from the Metaverse entirely. Or at least from its Meta rendition, no matter how excited the company might be about the creator…

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Lack of transparency among project auditors a big problem: Hacken CEO

Smart contract auditing firm Hacken CEO Dyma Budorin thinks Web3 cybersecurity providers are failing the crypto industry and that “huge blind spots” in market practices are impacting investor behavior. Budorin believes a lack of accountability and transparency in the audits many providers perform falls short of reassuring users and projects. Currently, smart contract auditors take no accountability if a token they have audited gets hacked due to a bug in the code. Unsettlingly, most of the largest hack events in 2022 occurred on projects that were audited by third parties.…

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BlackRock launches blockchain industry ETF, names crypto as 1 of 3 big opportunities

BlackRock has officially launched a blockchain focused ETF, that provides investors with exposure to the crypto and blockchain industry without needing to directly own digital assets.  On Wednesday, the world’s largest asset manager, which currently manages approximately $10 trillion in assets, added the Blockchain and Tech ETF (IBLC) to its iShares product line. The $4.7 million ETF does not directly own cryptocurrencies or digital assets themselves, but instead tracks an array of international companies that are involved in the industry. The ETF is comprised of 41 separate holdings, with the…

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