Today's crypto world events on 2024-12-09

Today's crypto world news 🔔
▶️▶️Cardano Foundation X account is hacked◀️◀️
⏺On December 8, 2023, the X account of the Cardano Foundation was attacked by Hacker.
⏺Hacker released a false Token advertisement for 'ADAsol', resulting in a volume of approximately $500,000.
⏺Hacker also released false information that the Cardano Foundation will abandon support for ADA, claiming that this is due to an investigation by the Securities and Exchange Commission (SEC) of the United States.
⏺ Currently, the Cardano Foundation is working hard to restore account control and reminds users to avoid interacting with this account.
▶️▶️Salvador BTC investment has unrealized gains of over 330 million US dollars◀️◀️
⏺Salvadoran President Nayib Bukele shared the unrealized returns on the country's BTC investment on social media.
As of December 5, 2023, Bitcoin has broken through $100,000 for the first time, and El Salvador's BTC investment is worth more than $330 million.
⏺ Since El Salvador first adopted BTC, nearly $270 million has been invested and no BTC has been sold to date.
▶️▶️Concerns in the encryption industry about Caroline Crenshaw's reappointment as SEC commissioner◀️◀️
⏺ The U.S. Senate Banking Committee will vote on December 11th whether to reappoint SEC commissioner Caroline Crenshaw.
⏺ Crenshaw is one of the cryptocurrency critics within the SEC and has voted against the approval of Spot BTC ETF.
Multiple industry executives in the encryption sector have expressed that Crenshaw's reappointment may have a negative impact on the crypto market, believing that she holds a strong opposition to Cryptocurrency.
My opinion🔔:
▶️▶️Cardano Foundation X account is hacked◀️◀️
The Cardano Foundation's Xaccount was hit by a Hacker attack, and although the problem is now under control, the incident has revealed a security flaw in the encryption industry's social media platforms. Investors need to be highly vigilant, especially for information on social media platforms involving well-known projects. The "ADAsol" Tokeneyewash that resulted from this incident is another reminder to investors that there is a lot of disinformation and fraud in the market. Strengthening account security and information verification mechanisms is an urgent issue for the entire industry to solve. In addition, the Cardano Foundation's response showed transparency and the ability to respond quickly, which also helped to ease the panic in the market.
▶️▶️BTC Investment Returns in El Salvador◀️◀️
El Salvador's unrealized gains from BTC investment exceed $330 million, reflecting the long-term potential of BTC price and the forward-looking decision of the Salvadoran government. Despite the Fluctuation in BTC price, El Salvador insists on not selling BTC, indicating the country's long-term planning in Crypto Assets strategy. For other countries or institutions, El Salvador's investment decision provides an important reference point - in a Fluctuating market, a steadfast holding strategy may bring substantial returns. However, this also reminds us that, while substantial short-term gains may be possible, the uncertainty of the BTC market remains a risk factor in the long term.
▶️▶️Concerns in the encryption industry about Caroline Crenshaw's reappointment as SEC commissioner◀️◀️
As the Senate vote on December 11th to decide whether to reappoint Caroline Crenshaw as a SEC commissioner approaches, anxiety within the encryption industry continues to escalate. Crenshaw's opposition to BTCETF and her overall stance on Cryptocurrency has already sparked dissatisfaction among many industry insiders. Her reappointment may indicate that the SEC will continue to adopt a more conservative or even hostile regulatory policy, undoubtedly bringing more uncertainty to the encryption market. If her reappointment is approved, it may further exacerbate the market's distrust of the SEC's regulatory attitude and may also delay the approval process for some encryption financial products (such as SpotBTCETF). For the encryption industry, it is necessary to closely follow this development and consider the potential regulatory pressure and market response.

🔴The above content does not constitute investment advice.

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