🚨Bybit loses 1.4 BILLION dollars in the largest crypto attack in history!
Welcome to the Daily Tribune of Saturday, February 22, 2025 ☕️
Happy New Year to Cointribu! 🚀
Today is Saturday, February 22, 2025 and like every day from Tuesday to Saturday, we summarize the news from the last 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Rainy 🌧️
24h crypto recap! ⏱
🏦 The ECB wants its own blockchain to modernize payments!
The European Central Bank (ECB) announces a project for interbank regulation based on blockchain, marking a turning point in the adoption of decentralized technologies by major financial institutions. Inspired by the Swiss National Bank, the ECB aims to test the integration of a centralized blockchain connected to the Target system, currently used for interbank transactions. This project could reduce the role of commercial banks and strengthen Europe's competitiveness against the experiments of the United States and China regarding state-backed digital currencies. 🔗 Read the full article
🔥 Historic hack: Bybit loses $1.4 billion in an unprecedented attack!
On February 21, 2025, Bybit suffered the largest hack in crypto history, with a theft of $1.4 billion in Ethereum via fraudulent access to its cold wallet. This attack surpasses the hacks of FTX ($477 million) and Binance ($568 million), highlighting the persistent vulnerabilities of exchanges. However, Bybit responded with exemplary crisis management, communicating in real-time and launching a thorough audit. The incident rekindles the debate on the security of centralized platforms and the need for decentralized solutions to protect users' funds. 🔗 Read the full article
📉 JPMorgan warns of a sharp correction for Bitcoin!
JPMorgan bank warns of a possible bear market on Bitcoin and Ethereum, due to a pullback from institutional investors. The CME futures indicate a drop in demand, while the global crypto capitalization has decreased by 15%, from $3.72 trillion to $3.2 trillion. According to JPMorgan, regulatory hesitance in the United States and massive profit-taking could amplify this correction. Nevertheless, some analysts see it as an accumulation opportunity in an ongoing bullish cycle. 🔗 Read the full article
🚔 Fraud at Bybit: $5.7 million embezzled, 10 years in prison for a former employee!
Ho Kai Xin, former head of payroll at WeChain, has been sentenced to 9 years and 11 months in prison for embezzling $5.7 million from Bybit. She falsified Excel files to redirect payments to her own crypto wallets, before converting the money into luxury goods, including a $3.7 million penthouse and Louis Vuitton bags. The investigation recovered $1.1 million in USDT, but a large portion of the funds remains missing. 🔗 Read the full article
Today's crypto: PulseX (PLSX)
PulseX is a decentralized exchange (DEX) operating on the PulseChain network. It allows users to trade PRC20 tokens on PulseChain, similar to how Uniswap functions on Ethereum. PulseX also offers bridges to other blockchains, thus facilitating the trading of currencies from various networks. This interoperability expands trading possibilities for users while maintaining a decentralized and secure experience.
The native token of PulseX, PLSX, is primarily used to facilitate transactions on the PulseX platform. PLSX holders can participate in yield farming programs, where they provide liquidity to the platform's pools in exchange for rewards in the form of transaction fees. This incentive encourages active participation and liquidity on the platform.
Recent performance:
Current price: $0.00003652 (approximately €0.00003483)
24-hour change: +11.0%
Market capitalization: $5.24 billion
Rank on CoinMarketCap: #3293
Bitcoin, a sovereignty issue: Saylor warns of a Chinese takeover
Michael Saylor, founder of MicroStrategy, recently called on the United States to acquire 20% of the bitcoins in circulation, or 4 to 6 million BTC. According to him, this strategy would not only strengthen the position of the dollar, but also help to repay the national debt. This bet is based on a vision where Bitcoin would become the gold standard of the 21st century, an essential digital asset for nations seeking to preserve their monetary sovereignty.
Bitcoin, a global geopolitical issue?
Saylor warns against a scenario where China, Russia, or Saudi Arabia would massively accumulate Bitcoin, thereby gaining a strategic advantage over the United States. He compares this situation to a new gold rush, but in digital form, where the fastest nations to adopt Bitcoin could dominate the global economy. He insists that Bitcoin is not just a simple cryptocurrency, but a rare and sovereign asset, escaping the control of central banks.
MicroStrategy as a pioneer, Washington still skeptical
MicroStrategy, which already holds 190,000 BTC ($47 billion), serves as a laboratory for this strategy. The company's success (+360% in one year) validates, according to Saylor, the economic potential of Bitcoin. However, U.S. authorities remain cautious, hesitant to treat Bitcoin as a strategic commodity. For Saylor, this inertia risks leaving the field open for economic rivals, while 12 U.S. states have already invested $330 million in his vision.
The future will tell if this visionary proposal can be established in political circles, or if Bitcoin remains a private asset, far from national reserves.
