Earlier this week, Coinbase revealed a significant cyberattack and data breach. Being a leading crypto exchange, the breach has put the personal data of influential figures at risk. As per the latest reports, Sequoia Capital’s Managing Partner, Roelof Botha, is also among the high-profile victims, with hackers accessing sensitive information, including phone numbers and addresses. Reports also suggest that exchanges like Binance and Kraken have also faced similar incidents. Concerns are now being raised about potential security vulnerabilities and the exposure of other prominent individuals’ data. Coinbase Hack Exposes Sequoia Capital Botha’s Info According to a Bloomberg report on the Coinbase hack, critical data belonging to high-profile executives like Sequoia Capital’s Roelof Botha is now in the hands of perpetrators. The hack has raised concerns about the safety of prominent crypto industry leaders. Notably, Roelof Botha is a prominent South African-American venture capitalist who joined Sequoia Capital in 2003. He… Read More at Coingape.com
The recent OM collapse at MANTRA has left the community confused. In a series of instant drops, $5.5 billion was erased. According to several analyses, the incident was caused by one trader manipulating two exchanges.
This whole incident highlights the fragility of many token projects. Despite an ostensibly huge market cap, a comparatively tiny amount of liquidity triggered a complete collapse.
According to a new analysis, the initial trigger of the OM crash was a single trader:
“This was due to an entity(s) on Binance perpetuals market. That’s what triggered the entire cascade. The initial drop below $5 was triggered by a ~1 million USD short position being market sold. This caused over 5% of slippage in literal microseconds. That was the trigger. This seems intentional to me. They knew what they were doing,” he stated.
After triggering this initial anomaly, this OM trader continued dumping short positions at five-second intervals, which powered the overall crash. As these continual dumps continued on Binance, the OKX spot market saw a discount of nearly 20%.
This strange behavior on OKX was caused by a massive whale. A limit sell order allows the seller to specify the minimum price they are willing to sell a crypto asset for. The order will only execute if the market price reaches or exceeds the limit price. Until then, the order remains open in the order book.
This person single-handedly kept the price fixed on OKX for over a minute, causing market makers and arbitrage bots to buy the assets despite panic selling in the broader market. By this method, the perpetrator was able to dump OM tokens while the crash was underway.
The issue, then, is not that OM fell because of a nefarious actor trying to engineer a crash. Instead, the problem is that a single entity could manipulate the markets so thoroughly.
For an attack like this to work, OM’s ostensible market cap had to be substantially more fragile than anticipated.
Many people hesitating about meme coins reaching billions, or even the $100B dream target.
1) People have forgotten than majority of retail, even with good degrees and high IQ, think that a $0.00001 token is cheaper than other that is $0.10. They don’t understand market cap.
In other words, even though OM’s market cap was theoretically very high, it took a comparatively small investment to crash the RWA token like a house of cards. Some have even speculated that this trader wasn’t even trying to cause a crisis.
Rather, they may have been investors who were forced to sell due to loan terms or risk limits. Some slight manipulation could’ve led to a larger catastrophe.
The crypto market today is seeing gains as Bitcoin price surge above $93,000, triggering a wave of excitement across investors. The sudden surge has many asking — why is the crypto market up today? The answer lies in a powerful mix of political optimism, institutional inflows, and renewed risk appetite.
Trade Optimism and Institutional Inflows Drive Rally
U.S. President Donald Trump and Treasury Secretary Scott Bessent made market-moving remarks hinting at potential relief in the U.S.-China trade war. Bessent called the current 145% tariffs “unsustainable” and suggested a de-escalation could be near. That was enough to boost investor confidence, not just in equities but also in risk-on assets like crypto.
Backing the momentum, Bitcoin spot ETFs saw $381 million in net inflows on Monday, the highest since January. The return of institutional money is a bullish signal, especially as MicroStrategy added another 6,500 BTC to its holdings — reinforcing long-term belief in Bitcoin.
SEC Shakeup, Altcoin Surge, But Caution Remains
Adding to the bullish sentiment, newly appointed SEC Chairman Paul Atkins has already dismissed several crypto enforcement cases. His pro-crypto stance is giving the industry fresh hope for a more innovation-friendly regulatory climate.
Meanwhile, Ethereum jumped above $1,700, Dogecoin surged 8.6%, and SUI spiked nearly 12%. Traditional markets also bounced back, with the S&P 500 and Nasdaq recovering from recent losses.
However,the liquidity and new demand remain weak compared to past bull runs, according to CryptoQuant. Resistance zones could still trigger pullbacks, but for now, the rally has reignited crypto market momentum.
The post Why Crypto Market Is Up Today? Bitcoin Price Surge Past $93K appeared first on Coinpedia Fintech News
The crypto market today is seeing gains as Bitcoin price surge above $93,000, triggering a wave of excitement across investors. The sudden surge has many asking — why is the crypto market up today? The answer lies in a powerful mix of political optimism, institutional inflows, and renewed risk appetite. Trade Optimism and Institutional Inflows …
