• The Arbitrum community recently warned investors about the possibility of scammers generating fake ARB airdrops.
• Redefine, a blockchain security firm, identified a website impersonating one of the official airdrop websites.
• CertiK also revealed an account impersonating the Arbitrum Twitter account with @arbitrum_launch as its username.

Arbitrum Community Warns Of Fake Airdrops

Recently, the Arbitrum community has posted warnings to investors about the possibility of scammers generating fake ARB airdrops. This tactic is commonly known as phishing, where attackers devise deceptive methods to manipulate users into giving out their wallet private keys. As digital currencies continue to flow into the system, it makes it attractive for scammers and hackers in the Web3 space.

Redefine Identifies Impersonator Website

The upcoming ARB token from Arbitrum is a layer-2 scaling solution on Ethereum’s blockchain network. This has made it an attractive target for various scammers given its potential profitability. The planned token distribution will allot 10 billion ARB governance tokens with holders being able to vote on code changes come March 23rd. However, scammers have already begun taking advantage of unsuspecting victims by introducing fake tokens before this date arrives. Redefine, a blockchain security company, shared information about one such website that is impersonating an official Arbitrum airdrop website in order to drain users’ wallets once access is granted by them.

CertiK Finds Account Impersonator

In addition to this case another account was found impersonating the Arbitrum Twitter account with @arbitrum_launch as its username and advertising false token drops in order to deceive holders. CryptoMaximalist on Reddit noted that these schemes are driven by user excitement when anticipating free funds and are indicative of how much complexity there lies behind crypto assets and digital currencies today requiring users to be more vigilant than ever when trading or interacting online with them..

Increased Security Features Needed

The need for increased security features within the Web3 space has become apparent due to these cases prompting firms like CertiK and Redefine among others to take action against these malicious activities. CryptoMaximalist further added that regulators and developers should do whatever they can do ensure that safety protocols are in place so that users can interact safely and securely with their digital assets without any worry or fear of falling victim to scams or fraudsters..

Conclusion

Scams like these have been prevalent across many industries but especially so within cryptocurrency due its anonymous nature making it harder for authorities & law enforcement agencies alike perfecting ways dealings with such tactics & schemes while educating users at the same time on how they can be better protected using established protocols & techniques against malicious actors online

• The cryptocurrency market has seen a sharp decline in the value of Dogecoin (DOGE) as massive amounts of fear, uncertainty, and doubt swept across the market following Silicon Valley Bank’s collapse.
• DOGE is trading at $0.0640, indicating a 21% decline in the last seven days. Additionally, data from crypto market tracker Coingecko shows that the dog-themed coin has lost 11% of its value in the last 24 hours alone.
• The macroeconomic uncertainty surrounding DOGE is due to its highly speculative nature and lack of fundamental value.

Dogecoin Plummets Following Collapse Of Silicon Valley Bank

The cryptocurrency market has been hit with a wave of fear, uncertainty, and doubt after Silicon Valley Bank collapsed on Friday morning resulting in the second-largest failure of a financial institution in US history. This collapse coupled with that of crypto-friendly bank Silvergate caused a massive sell-off across top meme tokens leading to Dogecoin (DOGE) plunging by nearly 11%.

Trading Volume Surge Indicates Impending Sell Off

At the time of writing, DOGE was trading at $0.0640, indicating a 21% decline in the last seven days. Data from crypto market tracker Coingecko also shows that the dog-themed coin has lost 11% of its value within 24 hours alone and further declines were seen over two weeks (-24%) and one month (-31%). Despite these losses, however, DOGE recorded an increase of 2% since January 1st 2021. Its trading volume has surged by almost 30%, which indicates an impending intense sell off in the near future.

Failure Of Silicon Valley Bank Causes Market Turmoil

The cause for this fall can be largely attributed to the sudden implosion of Silicon Valley Bank as it suffered losses due to Federal Reserve’s forceful hike in interest rates over previous year along with amassing long term treasury bonds when interest rates were close to zero – resulting in unrealized losses for banks as their worth dropped drastically. Such macroeconomic uncertainty surrounding DOGE is due to its highly speculative nature and lack of fundamental value; making it unpredictable and subject to sudden shifts in sentiment.

BTC Price Also Falls Due To Crisis

Crypto markets are not immune to such events either – with Bitcoin –the biggest crypto by market cap – seeing its price fall from $21k level down to $20372 at press time as BTC investors brace themselves for next episode on ongoing crisis started by SVB’s collapse .

Conclusion

In conclusion, Dogecoin continues to remain volatile given its high speculation rate combined with lack fundamental value; causing prices to fluctuate wildly depending on investor sentiment towards it at any given moment; especially when other major financial institutions suffer similar fates like what happened with Silicon Valley Bank recently .

• The upcoming Federal Open Market Committee (FOMC) meeting on March 22nd is expected to be the most important of the year.
• The dollar index (DXY) will remain as the main indicator for Bitcoin and crypto movements.
• QCP Capital, a leading digital asset trading firm in Asia, has released a new market analysis related to the current macroeconomic environment.

Important FOMC Meeting

The upcoming Federal Open Market Committee (FOMC) meeting on March 22nd is expected to be the most important of the year. Market participants will be able to see where the Fed sees the terminal rate in 2023, and if it plans to cut rates in 2024.

Dollar Index Remains Main Indicator

The dollar index (DXY) will continue to lead the way for Bitcoin and crypto movement. Earlier this week, DXY weakened due to China’s manufacturing purchasing managers’ index reaching 52.6 points, which reawakened China’s reopening narrative and caused Bitcoin prices to rise.

QCP Capital Releases Analysis

QCP Capital, a leading digital asset trading firm in Asia based in Singapore, has released a new market analysis related to the current macroeconomic environment surrounding the FOMC meeting on March 22nd. It is referencing what is called the Policy Path Chart which will show how long and at what level higher interest rates may extend for by those members of FOMC with voting privileges.

ADP National Employment Report

This week has been relatively quiet in terms of major macro data releases but there are some economic data points that are worth noting such as ADP’s National Employment report which reflects nonfarm private sector employment figures in United States every month.

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• Polygon’s blockchain explorer, PolygonScan, went down on Wednesday, February 22nd causing a lot of confusion and speculation.
• Rumors spread that the entire Polyon blockchain had gone offline, leading to gloating comments from other crypto communities including Avalanche (AVAX) and Solana (SOL).
• The issue was caused by an unusually large block reorganization which caused some nodes to fail for a brief period of time.

PolygonScan Outage Causes Confusion

On Wednesday, February 22nd the blockchain explorer for Polygon (MATIC), PolygonScan, went down causing a lot of buzz and rumors on Crypto Twitter (CT). Speculation arose that the entire Polyon blockchain was offline. This led to gloating comments from other crypto communities such as Avalanche (AVAX) and Solana (SOL).

Cause Of Outage

The actual cause of the outage was due to an “unusually large” block reorganization which occurred two minutes before the nodes went out of sync. This caused some nodes to fail in validating blocks for a short period of time despite the network continuing to produce blocks.

Nailwal Clarification

Polygon co-founder Sandeep Nailwal quickly clarified the situation via Twitter when he suggested users use OKLink instead while they worked on fixing the problem with PolygonScan. Austin Roberts of Open Relay noted most providers didn’t handle it “gracefully” with PolygonScan requiring more than two hours and Rivet being back up within one hour. Dapp developers were also affected as they struggled to get their services back online again.

Impact On Network Performance

Due to this incident, there was an impact on network performance but it did not last long as it was only a minor problem affecting the blockchain explorer itself rather than any major issues with the network itself. As Greg Lang from Rivet pointed out, more people were impacted by this than actually talking about it.

Conclusion

Overall, while this outage may have been inconvenient for some users and created confusion amongst others, it turned out to be a minor issue that could be resolved quickly and easily without any lasting damage done to the network or its performance capabilities.

• U.S. regulators have recently taken enforcement actions against Paxos Trust Company, the issuer of Binance USD stablecoin, and other digital assets firms.
• The SEC is proposing a new rule that will determine the types of services digital assets firms can offer, and it plans to vote on this proposal this Wednesday (February 15).
• If approved, the proposal could heavily impact major clients of custodians such as private equity firms, pension funds, hedge funds etc.

Regulatory Enforcement Actions by US Regulators

The crypto space is apprehensive due to the recent enforcement actions by U.S. regulators on some firms. One of the latest reports is about Paxos Trust company, the issuer of Binance USD stablecoin. The United States Securities and Exchange Commission (SEC) revealed its plans to sue the blockchain firm. Also, the New York Department of Financial Services (NYDFS) ordered Paxos to stop issuing BUSD tokens.

SEC Proposal for Crypto Companies’ Services

In a new development, the SEC now targets crypto companies, even those with operational licenses. The regulator is working on a new proposal this week to determine the type of products and services digital assets firms will offer. Bloomberg reported that the SEC plans to vote on a Wednesday, February 15th on rule changes regarding digital asset firms’ services in order for them to be qualified as custodians with all necessary feedback reported as well.

Potential Impact of Proposed Rule Change

If the commission implements the new rule, it will impact heavily on major clients of custodians including private equity firms, pension funds, hedge funds etc.. It could make it hard for certain crypto companies to hold digital assets on behalf of their clients as well as necessitate impromptu audits conducted by regulators regarding their custodial relationships with financial institutions at any given time without warning or prior notice given beforehand even if they are licensed operationsally or not .

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Conclusion

The outcome from this week’s voting process may lead crypto companies seeking alternative places where they can move their clients’ digital asset holdings while also creating more regulations that crypto related companies need to abide by which could potentially limit what kind of services they are able provide if approved despite being licensed operationally or not .

• FTX is facing an independent bankruptcy investigation in Delaware court.
• The exchange has condemned the idea and said approval of an investigator would only replicate work already being done by FTX, its creditors, and law enforcement agencies.
• State securities regulators are backing the proposal and say an unprejudiced version of the report would be beneficial to both creditors and customers.

FTX Collapse Impact

The contagion of the FTX collapse is still ongoing despite its already significant impact on the industry. In today’s news, a U.S. bankruptcy judge is looking to consider the approval of an independent bankruptcy investigation into the FTX collapse. This was revealed in a court hearing in Delaware earlier today.

FTX Reacts To Independent Bankruptcy Investigation

As a response to the appointment of an independent examiner into its case, FTX condemned the idea saying approval of an investigator would only replicate work already being done by FTX, its creditors, and law enforcement agencies, according to Reuters. Although FTX admitted its actions in the past calls for a probe relating to mismanagement and fraud, it is convinced that another round of investigation from an examiner will result in more cost and delay to refunding victims of its collapse. Meanwhile, official creditors’ committee supported the exchange noting that considering such investigation is unnecessary and not needed while state securities regulators from Texas, Vermont, and Wisconsin backed the proposal believing that an unprejudiced version of report will benefit all parties involved.

FTX Wants A Refund From Former Donors

With cases related to when FTX collapsed continuing to heat up, it appears that bankrupt firm may be feeling increasingly frustrated as everyone seems unresponsive towards their current situation. It was reported Monday that they requested a refund from former donor recipients with a press release stating “FTX Debtors are sending confidential messages to political figures, political action funds,” etc., asking for refunds or repayment terms after they had donated money during good times before their bankruptcy filing last year..

What Will Happen Next?

It remains unclear what will happen next with regards to this case but one thing is certain – The judge presiding over this case will take his time before making any decision about whether or not approve or deny FTC’s request for another investigation into this matter as well as other matters related it such as how much customer funds were used inappropriately if at all .Only time can tell what fate awaits FTC at this point but we hope justice ultimately prevails for all parties involved-both those affected by their fall as well as those who gave them money out charity prior this incident occurred..

Conclusion

The story of FTC’s collapse continues on even months after it initially took place with new developments emerging every single day which suggest just how deeply rooted some issues may have been within exchange itself prior it crashed down spectacularly last year affecting millions individuals globally . We only hope there’ll be closure regarding matter soon enough so everyone can move on eventually without having carry huge burden across long periods time .

• Floki Inu, a meme coin birthed by fans and the SHIB community, has seen tremendous performance over the past few hours after its governing DAO issued an important developmental proposal.
• The proposal called for the burning of an enormous number of its circulating tokens, which caused a massive price increase of 25%.
• The proposal also cited potential safety hazards associated with bridges as an additional reason to burn so many tokens.

Floki Inu, a meme coin created by fans and the SHIB community, has seen a surge in value over the past few hours due to an important developmental proposal issued by the coin’s governing DAO. The proposal calls for the burning of an enormous number of its circulating tokens, which has caused a massive price increase of 25%. Additionally, the proposal cited potential safety hazards associated with bridges as an additional reason to burn so many tokens.

Reports have indicated that over $2 billion either got misplaced or stolen from cross-chain bridges alone in 2022. As such, the safety reason cited by the developers is valid. Token burn is a means by which blockchain developers remove some coins permanently from circulation. The goal of the process is to reduce the total circulating token supply and increase the asset’s value, provided demand does not change.

With the burning of so many tokens, the value of Floki Inu has skyrocketed. The coin saw a 25% increase in its value following the proposal’s issuance, and the trend appears to be continuing. The token burn is expected to reduce the total circulating supply by nearly $55 million, which should have a positive effect on the coin’s value.

The Floki Inu project is still in its early stages, and the token burn is a major step forward for the project. With the reduction of circulating tokens and the associated positive effect on the coin’s value, the project is showing promise and could potentially become a major player in the crypto space. The community is eagerly awaiting to see what happens next with the project, and the future looks bright for Floki Inu.

• Robinhood, the crypto and stock trading platform, has begun rolling out its Robinhood Wallet to its over one million users on the waitlist.
• The wallet will support over 50 cryptocurrencies, including Shiba Inu, ETH, Solana (SOL), and USDC, as well as allowing users to transfer and swap assets.
• There are reportedly no fees when users carry out swaps on Polygon using the Robinhood Wallet.

The crypto market has seen a major resurgence in recent weeks, and one of the most talked-about altcoins has been Shiba Inu (SHIB). The meme coin has seen a major upside since the market began its recovery rally, and users have been eager to get their hands on it. Now, the much-anticipated Robinhood Wallet is rolling out to its over one million users on the waitlist, and it looks like the meme coin might see another boost.

The General Manager of Crypto for Robinhood, Johannn Kerbrat, recently took to Twitter to provide an update on the Robinhood Wallet. According to Kerbrat, the trading platform has begun rolling out the wallet to its over one million users on the waitlist. The wallet will support over 50 cryptocurrencies, allowing users to not only transfer their digital assets but to also swap them for other cryptocurrencies. Some of the most notable names of the supported cryptocurrencies include Shiba Inu, ETH, Solana (SOL), and USDC, among others.

The wallet will also provide support for NFTs on the Ethereum and Polygon blockchains. This is a major addition, as it will allow users to engage in a variety of activities related to digital assets, such as trading, staking, and investing. Another interesting addition is the fact that there are reportedly no fees when users carry out swaps on Polygon using the Robinhood Wallet. This is a major incentive for users who are looking to maximize their returns.

Overall, the Robinhood Wallet is a major step forward for the crypto and stock trading platform. The addition of the wallet will make it easier for users to trade and manage their digital assets, and it looks like Shiba Inu might be one of the biggest beneficiaries. As the meme coin continues to see an upside, it remains to be seen if the Robinhood Wallet will provide another boost for it.

• 13% more of the Bitcoin supply has gone back into the green as BTC has broken past the $18,200 level.
• Data from on-chain analytics firm Glassnode shows the “percent supply in profit” is currently at 60.5%.
• The “percent supply in profit” is an indicator that measures the percentage of the total circulating Bitcoin supply that’s carrying some amount of profit right now.

Today, Bitcoin has broken past the $18,200 level. This has contributed to 13% more of the Bitcoin supply going back into the green. According to data from on-chain analytics firm Glassnode, the “percent supply in profit” is currently at 60.5%.

The “percent supply in profit” is an indicator that measures the percentage of the total circulating Bitcoin supply that’s carrying some amount of profit right now. This metric works by going through the on-chain history of each coin in circulation to see what price it was last traded at. If the price of any coin was less than the current value of BTC, then that particular coin is holding some profit at the moment, and the indicator takes this into account.

The higher the value of the supply in profit, the higher the number of investors that become likely to sell at any point. This has been seen in the past with the indicator’s value being very high right before a top. The counterpart metric of the supply in profit is the “supply in loss”, which measures the opposite kind of supply. This can simply be calculated by subtracting the percent supply in profit from 100.

A chart from Glassnode’s Twitter account shows the trend in the Bitcoin percent supply in profit over the past year. It was seen that the value of the metric has seen an increase in recent days. This could be an indication that more people are profiting from their investments in Bitcoin and possibly causing the price of the asset to rise.

Overall, the data from Glassnode is showing a positive trend for Bitcoin as more of the supply goes back into the green. This could be a sign of further growth to come in the future.

• Tim Draper has predicted that the price of Bitcoin will reach $250,000 by 2023.
• Professor Carol Alexander has predicted that Bitcoin will reach $50,000 by late 2023.
• Both Draper and Alexander expect a managed bull market in the year 2023.

The digital asset Bitcoin has seen a lot of volatility in the past few years, but this hasn’t deterred some prominent personalities from making predictions about the future of the asset. With the start of the new year, these predictions have come out, with some being more bullish and some more bearish.

One of the most bullish predictions comes from billionaire investor Tim Draper who believes that the price of Bitcoin will reach $250,000 by 2023. In an email to CNBC, Draper reiterated his prediction, saying he expects the digital asset to continue its positive run until the next halving in 2024. He believes that the more women, who control 80% of retail spending, are drawn into BTC, the price of the asset will explode.

On the other side of the spectrum, Professor Carol Alexander, a finance professor at Sussex University, takes a more conservative stance. She believes that Bitcoin will reach $50,000 sometime in late 2023. While she expects the asset to experience a bull market in the year, she believes it will be a “managed bull market”.

Bitcoin has seen a lot of ups and downs in the past few years, and it remains to be seen which of these two predictions will come true. However, it is clear that more and more people are investing in the digital asset, and this could lead to the price skyrocketing in the near future. Only time will tell what the price of Bitcoin is headed towards, but the predictions of these two personalities provide a glimpse into what could be.