Market Analysis Report (10 May 2019)

Binance Hacker Consolidates Stolen Bitcoin to Seven Addresses

The hacker(s) who performed a large-scale security breach on Binance, the world’s largest crypto exchange in terms of trading volume, have now transferred the 7,070 Bitcoin (BTC) they stole to only seven addresses.

According to a report published by The Block yesterday, the stolen Bitcoins from the 44 crypto addresses are now consolidated in only seven addresses, and at present, six of these addresses hold 1,060.6 BTC and one address is holding 707.1 BTC.

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$1 Bln in Commitments For Bitfinex’s Token Sale, Shareholder Claims

IFinex, Inc., the parent company which manages the operations of both its subsidiaries, Tether Ltd. and embattled crypto exchange Bitfinex, has reportedly acquired $1 billion in “hard and soft commitments” for its Initial Exchange Offering (IEO).

According to Dong Zhao, a prominent Chinese shareholder and large volume over-the-counter (OTC) crypto trader, who revealed that there’s now a “high possibility” that the exchange operator “will not conduct a public sale” for its crypto token offering. Zhao posted a message on WeChat (a popular Chinese social media network) which stated that the IEO had already received enough commitments to meet its fundraising target of $1 billion.

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Facebook Less Worried About Crypto Ads 

On Wednesday (May 8), Facebook announced that since June 2018 it has been listening to “feedback”, and that while those wishing to run ads that promote cryptocurrencies still need pre-approval, it was no longer demanding “pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.”

The announcement also stated:

“The company will continue to ban ads for Initial Coin Offerings (ICOs) as well as ads for binary options.”

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