Crypto Market Overview December 29th | Dex-Trade

Crypto Market Overview December 29th | Dex-Trade

Bitcoinist Sitiveni Rabuka Is the New Prime Minister of Fiji

The newly elected prime minister of the Pacific island nation of Fiji and part-time open supporter of Bitcoin, Sitiveni Rabuka, took office on December 24 and announced his intention to make the crypto flagship legal tender in the country. To date, Fiji is facing the same economic and social problems as the Polynesian state of Tonga, whose authorities have already set a course for the integration of Bitcoin into the country's economic system and plan to complete this process as early as February 2023. However, Fiji's population of nearly 900,000 is more than nine times the population of Tongan citizens. Bitcoin's potential to improve financial inclusion in Fiji is particularly significant given the country's geography and economic situation. Located in the Pacific Ocean, Fiji is made up of over 330 islands. It is classified as a middle-income country but still faces significant development challenges, including high levels of poverty, limited access to financial services, and energy dependence on fossil fuels. All in all, the election of a pro-Bitcoin Prime Minister in Fiji is a very significant event. Until 2021, the cryptocurrency was officially banned in the country. It remains to be seen exactly how government support will translate into concrete adoption policy, but the potential for Bitcoin to improve financial inclusion in Fiji is clear.

Mike Novogratz Continues to Hope for the Prospect of a Bearish Bitcoin

Galaxy Digital CEO and crypto mogul Mike Novogratz believes that bear markets continue to be very tempting for large investors, which is why he remains a consistent supporter of Bitcoin and is confident in its gigantic potential in the long term. It was recently revealed that blockchain giant Argo Blockchain agreed to the sale of its Helios mining center in Dickens County, Texas, to Galaxy Digital for $65 million. The move was taken to avoid filing for bankruptcy protection for the company. It is reported that the transaction will be completed before the end of this year and Galaxy Digital will refinance Argo's debt. Novogratz himself sees the purchase of Helios as an important step towards “building for the decentralized future.” In addition to expanding Galaxy's mining capabilities, this acquisition will enable them to act as a host for other miners as well. The company started Bitcoin mining in 2021 and outsourced most of its operations to hosting providers during this period. They have always wanted to move their miners to Galaxy Digital-owned sites, Novogratz says, and Helios will now allow that plan to go ahead as the company's main goal is to provide cheap electricity and buy ASIC machines at low prices.


Anonymous Leaked Part of the 3Commas API Database on Twitter

After repeated warnings that the 3Commas trading bot had been phished and massively hacked, an anonymous Twitter user reported receiving about 100,000 custom API keys and published more than 10,000 of them. In addition, the hacker said that in the coming days, the rest of the keys will also be published randomly. At the same time, 3Commas CEO Yuri Sorokin confirmed the authenticity of the leak in the tweet and added that as an immediate action, the company asked Binance, Kucoin and other supported exchanges to withdraw all APIs that were connected to 3Commas. The leak came to light after dozens of 3Commas users claimed their APIs were being used to make trades on exchanges like Binance, KuCoin and Coinbase without their consent. The company confirmed that users have lost at least $6 million since October as a result of malicious attacks, but this amount has at least doubled in recent weeks. Initially, 3Commas representatives stated that the loss of its users occurred as a result of phishing attacks. However, more than 50 clients of the trading bot later created Telegram chats in which they came to the conclusion that their credentials were stolen directly by 3Commas itself or by cryptocurrency exchanges. Notably, the day before 3Commas officially announced the leak, Binance CEO Changpeng Zhao warned users, “If you have ever put an API key in 3Commas (from any exchange), please disable it immediately.” But this warning was ignored by many users of the trading bot.