Global Hive Buzz

Rising Global Deepfake Incidents Targeting Crypto

The latest insights from Sumsub Research, a company specializing in online identity verification tools, reveal a surge in global deepfake incidents impacting the crypto industry.

The report highlights a staggering 1,740% increase in deepfake cases in North America, a primary target for hackers. In the Asia Pacific region, deepfake scams rose by 1,530%, compared to 780% in Europe (including the UK), 450% in the Middle East and Africa, and 410% in Latin America.

Spain leads in the number of deepfake incidents, the UAE passport ranks as the most forged document globally, and Latin America witnesses a widespread increase in fraud across all countries.

Notably, an attack on a crypto wallet linked to Binance earlier this year involved cybercriminals swiftly exchanging stolen funds for Ethereum (ETH) using services like FixedFloat and ChangeNow to obfuscate their activities.

The Looming Threat to Financial Freedom

The US government, with President Biden's endorsement, might undertake an unprecedented action soon.

This involves the introduction of a programmable currency known as Central Bank Digital Currency (CBDC).

What implications could this have for your retirement savings?

An indicator may lie in Representative Warren Davidson's (R-OH) call for Congress to "promptly prohibit and criminalize any attempt to design, construct, develop, test, or establish a CBDC."

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Solana Takes the Lead in Layer-1 Token Surge as Bitcoin Surpasses $38,000

Bitcoin achieved a breakthrough above the $38,000 mark during the Asian morning hours on Wednesday, fueled by renewed optimism surrounding the potential approval of a spot exchange-traded fund (ETF) earlier in the week, coupled with expectations of rate cuts from traditional market observers.

Solana's SOL tokens spearheaded the gains among layer-1 blockchains, witnessing an 8% surge in the last 24 hours, reversing losses from the previous week. Other layer-1 tokens, including Avalanche's AVAX (up 6.6%), Cardano's ADA, and Tron's TRX (both up over 5%), also experienced notable increases.

The momentum in Bitcoin gained traction after Federal Reserve governor Chris Waller hinted at a potential slowdown in the economy, suggesting that current policies were appropriately positioned.

Waller further indicated that if inflation continued to decline, rate cuts might be justified in the coming months, influencing market sentiments, particularly in risk assets like stocks and cryptocurrencies.

SEC Postpones Decision on Franklin Templeton & Hashdex Bitcoin ETFs, Setting the Stage for Potential Approvals

The Securities and Exchange Commission (SEC) has deferred its decision on the approval or disapproval of proposals for listing and trading shares of two bitcoin exchange-traded funds (ETFs) – the Franklin Bitcoin ETF and the Hashdex Bitcoin Futures ETF.

According to Bloomberg ETF Analyst James Seyffart, the SEC's delay might indicate a strategy to approve a series of bitcoin ETFs in early January.

The Franklin Templeton proposal aims to list the Franklin Bitcoin ETF, tracking Bitcoin's price, while the Hashdex ETF would invest in Bitcoin futures contracts and Bitcoin. Both proposals assert that their structures would mitigate manipulation risks, a factor that has delayed previous Bitcoin ETF applications.

The SEC is scheduled to make a final decision on the proposed rule change by January 1, 2024. Interested parties have 21 days to submit initial comments to the SEC, with rebuttals due 35 days after publication in the Federal Register.

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