• Polygon-based protocol 0vix exploited for $2M
• US government holds $6B worth of Bitcoin: Glassnode data
• Coinbase suggests SEC action is motivated by Gary Gensler’s own views

Polygon Protocol Exploited for $2 Million

A Polygon-based protocol, 0vix, was recently exploited for $2 million. According to Coinbase, the Security and Exchange Commission’s (SEC) action may have been influenced by Gary Gensler’s own views. In addition, a vigilante hacker burned hundreds of Bitcoin held in wallets used by Russian intelligence. Finally, Gensler analogizes crypto vs. securities to calling a dog a goldfish; sparking community backlash.

US Government Holds $6 Billion Worth of Bitcoin

Glassnode data shows that the US Government holds approximately $6 billion worth of cryptocurrency, mostly in Bitcoin. This amount has steadily increased since February 2021 and continues to benefit from the ongoing bull market.

Coinbase Suggests SEC Action Motivated by Gary Gensler’s Views

Coinbase suggested that the SEC’s recent actions were motivated by chairman Gary Gensler’s personal views on cryptocurrencies and their technology. This has resulted in increased scrutiny on the ecosystem as well as several high-profile enforcement actions against various companies involved in the industry.

Vigilante Hacker Burns Hundreds of BTC Held By Russian Intelligence

A vigilante hacker managed to burn hundreds of Bitcoin held in wallets associated with Russian intelligence agencies. The hack employed a well-known exploit used to manipulate transactions and move funds around without any authorization or permission from the wallet owners.

Gensler Analogizes Crypto Vs Securities To Calling A Dog A Goldfish

The SEC Chairperson sparked backlash among members of the crypto community after analogizing cryptocurrency vs securities to calling a dog a goldfish during an interview with Fox Business News last week. He argued that while there are similarities between both assets, they cannot be treated similarly under US laws due to their distinct characteristics and functions within the financial system.