Bitcoin Holds Steady Amid Inflation Anticipation; October Sees Record Crypto Hacks

Bitcoin Holds Steady Amid Inflation Anticipation

Bitcoin (BTC) has remained stable above $19k as the market anticipates the release of the September CPI data. Despite stock market declines, BTC has shown resilience with minimal price fluctuations. Analysts predict a CPI of 8.1%, down from August's 8.3%, suggesting the Fed's rate hikes may be effective. However, the Fed expects higher rates until inflation decreases.

October Sees Record Crypto Hacks Exceeding $718M

October has become the worst month for crypto hacks, with over $718M stolen in just two weeks. Hackers targeted DeFi protocols, with major incidents at Mango Markets, TempleDAO, and Binance's BNB Chain. This year may surpass 2021 in total losses, highlighting increased vulnerabilities in DeFi and bridge protocols.

Coin Center Sues US Treasury Over Tornado Cash Sanctions

Coin Center has filed a lawsuit against the US Treasury for sanctioning Tornado Cash, arguing it overstepped authority and infringed on privacy rights. Coinbase has also filed a similar lawsuit, contesting the sanctions that cited Tornado Cash's use by malicious actors like North Korea's Lazarus Group.

BNB Smart Chain Hard Fork Prevents Future Hacks

Following a $100M exploit, BNB Smart Chain executed the Moran hard fork to fix vulnerabilities. The update addresses cross-chain bridge security and resumes full operations. Community votes will determine the handling of hacked funds, though questions remain about the chain's decentralization and security.

Crypto.com Invests $145M in France for European Expansion

Crypto.com is investing $145M in France to establish a regional headquarters in Paris after gaining regulatory approval. The funds will support market operations, local talent hiring, and expansion across Europe, reinforcing their commitment to growth and compliance in the region.