The crypto world has been buzzing with major developments that have left an indelible mark on the industry. Here are some of the most noteworthy stories you need to be aware of:
Major Crypto Exchange Hacked – Millions Stolen
Coinbase, one of the largest cryptocurrency exchanges was recently hit by a massive hack that resulted in millions worth of digital assets being stolen from user accounts. The breach is believed to have occurred due to an employees account getting compromised through phishing attacks. As such Coinbase has taken immediate action by suspending all withdrawals and deposits until further notice while they investigate this issue thoroughly. This incident underscores how crucial it is for individuals dealing with cryptocurrencies to prioritize security measures above everything else.
Regulatory Challenges for Facebook’s Libra Amidst Global Backlash
Facebook’s Libra project has been met with significant regulatory hurdles as governments and central banks express concerns about its potential impact on financial stability. Critics argue that it could give Facebook unprecedented control over users personal data and finances. As a result several countries have announced plans to block or regulate the currency making its future uncertain. It remains unclear whether this ambitious initiative will ever come into fruition.
Bitcoin Price Soars as Coronavirus Pandemic Continues
As COVID 19 continues to ravage the world Bitcoin prices continue their upward trajectory reaching new peaks above $8000 per coin. Investors are increasingly turning towards this cryptocurrency as a safe haven asset during these turbulent times leading demand and subsequently pushing up costs significantly. Experts predict that we may witness even more growth in coming months due to ongoing disruptions within traditional markets.
New Blockchain Technology to Revolutionize Supply Chain Management
Chainlink is a groundbreaking blockchain technology that promises to revolutionize supply chain management by providing real time visibility into product movements across the entire network. By leveraging smart contracts this innovative solution automates processes such as payments, customs clearance and quality control checks – reducing costs while increasing efficiency levels significantly. Additionally it provides greater transparency along with traceability features which can help combat fraudulent activities effectively. Walmart & IBM are already using Chainlinks capabilities for improving their own supply chains; other companies will likely follow suit soon enough too!
