Fireblocks Teams Up with Coinbase, Singapore Faces Ransomware Threat, and Massive US Bitcoin ETF Buys
Summary:
Fireblocks has partnered with Coinbase, expanding its offerings to include trading spot and perpetual futures contracts, mainly for institutional investors. Meanwhile, Singaporean businesses face a growing threat from Akira ransomware, which has already stolen $42 million from global firms. Lastly, the past week observed US Bitcoin ETFs purchasing eight times more Bitcoin than was mined, despite market struggles.
Fireblocks, a crypto infrastructure provider, has extended its operations to include Coinbase International. Concurrently, Singapore is now in the crosshair of the Akira ransomware and during the final week of the month, U.S. Bitcoin ETFs purchased eight times more Bitcoin than was extracted. Fireblocks has integrated with Coinbase International Exchange to increase institutional reach to crypto spot and derivative products, according to an announcement made on June 10. The platform now allows trade in spot and perpetual futures contracts and is designed primarily for institutional investors, such as family offices and hedge funds. The hookup allows Fireblocks customers to directly access their Coinbase International Exchange accounts to facilitate deposits and withdrawals. Fireblocks alleges that this incorporation will deliver enhanced oversight and security for exchange operations. The service will be accessible in appropriate jurisdictions outside America. Fireblocks has steadily expanded its institutional offerings during the crypto bull market, even launching a custodial service in America. Similarly, institutional investors have become more active in the crypto arena following the unveiling of spot Bitcoin ETFs earlier this year. The Akira ransomware that successfully purloined $42 million from over 250 organizations across North America, Europe, and Australia within a single year has now set its sights on Singaporean businesses. Joint advisory alerts have been issued by Singaporean authorities to local businesses signaling the growing threat of this particular variant of Akira ransomware. Several complaints from cyberattack victims have been lodged with agencies, including the Singapore Police Force, the Cyber Security Agency of Singapore, and the Personal Data Protection Commission. Previous investigations conducted by the Federal Bureau of Investigation in the United States established that the Akira ransomware has a penchant for targeting critical infrastructure entities and businesses. Bitcoin ETFs in the United States bought 25,729 BTC, approximately eightfold the quantity of BTC mined over the same period, last week as per HODL15Capital. It was also the largest week for Bitcoin buying since mid-March when Bitcoin scaled its currently prevailing all-time peak of $73,679. Net inflows for the ETFs reached around $1.83 billion last week, elevating their net inflows to $15.69 billion. This accords for the $17.93 billion in net outflows from Grayscale’s fund, quoted by Farside Investors. However, the digital currency has been facing struggles to surmount its existing high as macroeconomic factors and geopolitical events heavily influence its price, as cited by "Radar Bear", a crypto exchange co-founder, in a conversation with Cointelegraph last week. The account has been reported by Geraint Price, Sam Bourgi, and Felix Ng.
Published At
6/10/2024 10:54:08 PM
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