Today's Top Crypto Headlines:

Radiant Capital Hacker Moves Stolen Funds | Trump Victory Could Push Bitcoin | Ripple Endorses John Deaton | Cosmos Allegations and more...

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

  1. Radiant Capital Hacker Moves Stolen Funds: The hacker behind the $52 million Radiant Capital exploit has moved the stolen assets from layer-2 networks to Ethereum, likely to obscure the trail.

  2. Trump Victory Could Push Bitcoin to $92K: Jeff Park of Bitwise predicts Bitcoin could reach $92,000 if Donald Trump wins the 2024 U.S. presidential election, based on probabilities derived from Polymarket odds.

  3. 📈Technical Analysis Masterclass - Dogecoin is showing signs of a potential breakout! Watch UseTheBitcoin’s latest Youtube video “This is the BEST Time to Buy Dogecoin! (DOGE)” to know why it might be a strategic time to consider buying or join our Official Telegram Channel for more alpha!

  4. Ripple CEO Endorses John Deaton: Ripple CEO Brad Garlinghouse has endorsed John Deaton's campaign to unseat Senator Elizabeth Warren in Massachusetts.

  5. Cosmos Allegations: Allegations surfaced that part of Cosmos' Liquid Staking Module (LSM) may have been developed by North Korean agents, raising concerns about vulnerabilities within the system.

💡Feature of the Day


All this and more in today’s headlines!

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📰 News Highlights:

Radiant Capital Hacker Moves Stolen Funds [Source][Source][Source]

The hacker responsible for the Radiant Capital exploit has moved nearly all of the stolen $52 million from layer-2 protocols to Ethereum, signaling a possible attempt to obscure the funds’ trail.

On October 24, blockchain security firm PeckShield reported that the hacker had bridged approximately 20,500 Ether from Arbitrum and Binance BNB Chain to Ethereum.

The move raises concerns, as Ethereum is often used by hackers to further complicate recovery efforts by mixing the stolen assets through platforms like Tornado Cash.

Radiant Capital, a cross-chain DeFi lending platform, was exploited in mid-October through a sophisticated cyberattack that compromised the devices of key developers.

In response to the breach, the platform halted lending markets and advised users to revoke permissions to affected smart contracts to prevent further losses.

Despite these efforts, the platform's total value locked (TVL) has plummeted by 66% to around $24 million since the attack.

Trump Victory Could Push Bitcoin to $92K [Source][Source][Source]

According to Jeff Park, head of alpha strategies at Bitwise, Bitcoin could soar to $92,000 if Donald Trump wins the U.S. presidential election in November.

In a recent post on X, Park applied "merger arb-style probability math" by charting Bitcoin’s price against Trump’s odds on Polymarket, predicting a major rally for the leading cryptocurrency following a Trump victory.

Trump’s 2024 campaign has been heavily focused on promoting cryptocurrency, with promises to transform the U.S. into a global crypto hub and to remove SEC Chair Gary Gensler from office.

 📈Technical Analysis Masterclass:

Key Market Insights:

  • Current Price: Dogecoin is trading at $0.14 after a brief dip to $0.13, which filled a Fair Value Gap (FVG).

  • Fair Value Gaps (FVGs): FVGs are price imbalances that act like magnets for price movement. The $0.13 gap has been filled, and the next target is at $0.15, signaling potential upward movement.

Entry Strategy:

  • Good Entry Point: With the recent dip behind, the path toward $0.15 looks promising for new positions.

  • Stop-Loss: Set a stop-loss around $0.12 to manage risk in case of a market reversal.

  • Take-Profit Levels: Aim for profits between $0.15 and $0.16, aligning with the next FVG target.

Bullish Indicators:

  • MACD: Positive signals on both daily and weekly timeframes suggest strong short-term and long-term bullish momentum.

  • RSI: Currently above 50, indicating bullish momentum may continue to build.

Caution:

  • Dogecoin’s Nature: Remember, Dogecoin is still largely considered a meme coin, with limited real-world adoption compared to Bitcoin or Ethereum. Always weigh the risks carefully in this volatile market.

Ripple CEO Endorses John Deaton [Source][Source][Source]

Ripple CEO Brad Garlinghouse has publicly endorsed John Deaton in his campaign to unseat Senator Elizabeth Warren in Massachusetts.

Deaton, a vocal advocate for XRP holders and the broader crypto industry, has received significant financial backing from Garlinghouse, Ripple co-founder Chris Larsen, and other key figures in the crypto space.

Ripple has also supported the Commonwealth Unity Fund, a political action committee (PAC) that opposes Warren and promotes Deaton’s candidacy.

During recent debates, Senator Warren criticized Deaton for prioritizing the interests of the crypto industry, claiming that his loyalty lies entirely with cryptocurrency.

💡 Feature of the Day: 

Cosmos Allegations [Source][Source][Source][Source]

Allegations that part of the Cosmos ecosystem’s Liquid Staking Module (LSM) may have been developed by North Korean agents have sent shockwaves through the community.

The revelation, first brought to light by developer Jacob Gadikian, has raised concerns about possible vulnerabilities within the system, as North Korean-affiliated cybercrime groups like the infamous Lazarus Group have been linked to some of the largest crypto hacks in recent years.

While Cosmos co-founder Ethan Buchman and other core contributors were unaware of the North Korean involvement, they are now working to address the potential risks by organizing audits and considering a phased removal of the LSM.

OtterSec and Binary Builders have been tasked with conducting a security review, while additional audits by Zellic will begin in November.

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😂 Crypto Meme of the Day: 

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See you all tomorrow’s edition!


Jonathan Gibson
UseTheBitcoin.com