US Department of Justice Launches Investigation into Coinbase Cyber Attack
According to The Block, the US Department of Justice has initiated an investigation into the recent cyber attack on Coinbase. Cybercriminals reportedly hacked and stole Coinbase customer information, demanding a ransom of approximately $20 million. Coinbase's Chief Legal Officer (CLO) Paul Grewal stated, "We are currently cooperating with domestic and international judicial authorities, including the US Department of Justice, and actively support the pursuit of criminal responsibility for this crime."
Genesis Files $1.2 Billion Lawsuit Against Parent Company DCG
Bloomberg reported that cryptocurrency lending firm Genesis Global Capital has filed a $1.2 billion lawsuit against its parent company Digital Currency Group (DCG). Genesis claimed that "DCG founder Barry Silbert and its affiliates transferred large assets just before bankruptcy, knowing Genesis was insolvent" and considers at least $1.2 billion of the transferred assets as recoverable. They also alleged that DCG misled that Genesis would be safe from the cryptocurrency market's chain reactions, including the Terra/Luna collapse, Three Arrows Capital bankruptcy, and FTX collapse. Genesis had filed for bankruptcy in January 2023 following the FTX collapse.
[The rest of the translation follows the same professional and accurate approach, maintaining the specific cryptocurrency and technical terms as instructed.]Coinbase and Robinhood's Chief Legal Officer (CLO) reportedly received over $8 million (approximately 11.1 billion won) in high annual salary over the past year.
Zhao Changpeng: "Cryptocurrency, Risk in Investment... Also Risk in Not Investing"
According to Watcher Guru, Binance founder Zhao Changpeng stated that "investing in cryptocurrency certainly carries risks, but not investing in cryptocurrency can also be a risk".
Hyperliquid Whale, $12.46 Million Profit in Long Position
Amber CN reported that Hyperliquid whale James Wynn is recording a $12.46 million profit from a BTC 40x leverage long position.
People's Bank of China Cuts Benchmark Interest Rate After 7 Months
The People's Bank of China announced a 10bp reduction in the Loan Prime Rate (LPR), which is effectively the benchmark interest rate, to 3% for one-year and 3.5% for five-year terms. This is the first rate cut in 7 months.
Analysis: "Bitcoin Superior to Gold in Risk-Adjusted Returns"
An analysis suggests that Bitcoin is gradually establishing its status as a 'store of value' compared to gold. Jurien Timmer, Global Macro Head at Fidelity, noted that the Sharpe ratio is converging with gold.
Altcoin Season Index at 21... Down 3 Points from Previous Day
CoinMarketCap's 'Altcoin Season Index' is currently at 21, down 3 points from the previous day.
BTC Surpasses $106,000
According to Coinness market monitoring, BTC is trading above $106,000 on the Binance USDT market.
Analysis: "BTC May Break $110,000 This Week with Double Bottom Pattern"
CoinTelegraph analyzed that Bitcoin could break $110,000 this week based on the double bottom pattern and on-chain accumulation.
Analysis: "BTC Could Rise to $138,500 This Year"
Matt Mayne from 21Shares analyzed that "BTC could rise to around $138,500 by year-end, with institutional fund inflow and supply pressure as driving factors".
Crypto 'Fear & Greed Index' at 71... Greed Continues
Alternative's 'Fear & Greed Index' recorded 71, down 3 points from the previous day, indicating continued greed.
Bithumb Lists PROMPT in KRW Market
Bithumb announced through its official website that it will list Wayfinder (PROMPT) in the KRW market on May 20th at 5 PM (scheduled).
May 20th Coinness Market Briefing
As of 9 AM on May 20th, Bitcoin is trading at $105,573, down 0.83%. Among TOP 100 coins by market cap, the top 3 24-hour gainers are AAVE (+8.82%), ETH (+3.05%), and XMR (+2.11%).
