US DOJ seizes $3.6 billion worth in Bitcoin linked to 2016 Bitfinex hack
The US Department of Justice (DOJ) has launched what seems to be the largest financial seizure ever related to cryptocurrencies. According to The Washington Post, authorities seized $3.6 billion worth of digital assets linked to a hack on crypto exchange Bitfinex in 2016. Nearly 119,754 Bitcoin (BTC) were stolen in the hacking incident, where the threat actors deployed a series of 2,000 unauthorized transactions.
Crypto prices today: Bitcoin, ETH down 2.7%
Bitcoin is currently trading at $43,571, a 2.72% decline over the previous day. Ethereum is down 2.7% over the last 24 hours to $3,091. Solana fell 5.7% to $110.93, while Cardano is down 3.7% to $1.18. Polygon (MATIC) fell 2.9% to $1.92. The global crypto market cap stands at $1.99 trillion, a 2.37% decline over the previous day.
DeFi project Aave launches decentralised social media platform on Polygon
DeFi platform Aave has announced the launch of Lens Protocol, a decentralised social media platform built on the Polygon blockchain. The open-source “Web3, smart contracts-based social graph” is based on an ecosystem of dynamic non-fungible tokens (NFTs). Users can create NFT-based profiles that contain the history of all posts, mirrors, comments, and other content they generate.
JPMorgan estimates Bitcoin’s ‘fair value’ at $38,000, 12% below current price
According to JPMorgan Chase & Co. strategists, Bitcoin’s “fair value” is around 12% below the current price based on its volatility in comparison with gold. The strategists calculated the fair-value level at ~$38,000 based on Bitcoin being roughly four times as volatile as gold.
PayPal forms crypto advisory council
PayPal has formed an advisory council to support crypto-related products and help guide the company on creating a digital financial system. In early January, the payments giant confirmed it is exploring the possibility of releasing its native stablecoin.