Crypto.IQ Daily Radio Show May 8: Binance Loses 7,000 Bitcoins (BTC) In Hack But Has SAFU Funds To Cover Losses, Bitfinex Is Doing A $1 Billion IEO To Cover The $850 Million Loss At Crypto Capital

Crypto.IQ Daily Radio Show

On this edition of the Crypto.IQ Daily Radio Show we do a deep dive market analysis. The crypto market reached new 2019 highs in the afternoon with the price of Bitcoin (BTC) approaching $6,000, but the market crashed in the evening due to news that Binance had lost 7,000 Bitcoins (BTC) in a hack. Binance announced that all funds that were lost will be replaced via their SAFU insurance fund, but Binance will close deposits and withdrawals for a week while Binance eradicates the hackers from their system. The crypto market has now partially recovered with Bitcoin (BTC) trading near $5,850. We discuss how Bitfinex is doing a $1 billion initial exchange offering (IEO) for their LEO token in order to replace the $850 million lost at Crypto Capital. Hear about how the darknet marketplace search website Deepdotweb has been shutdown and its administrators and moderators have been arrested. Learn about how Ethereum (ETH) proof of stake (PoS) does not appear that profitable, with only fractions of a percent earned in a year after electricity costs, but the PoS plan is not set in stone yet. We also discuss how mimblewimble cryptocurrency Grin (GRIN) has received an anonymous 50 Bitcoin (BTC) donation for development, and how Fastbitcoins has launched a rickshaw network in Glasgow that sells Bitcoin (BTC) to people anonymously.