BTC hit $7500, an increase from the $5820 highs of last week and the highest point since 02 August 2018.
Weekly Roundup:
Over 7000 BTC was stolen by hackers from Binance, which is less than 2% of its total BTC holdings, this was replaced by the Secure Asset Fund for Users (SAFU).
The pressure was on Binance Founder and CEO, Changpeng Zhao, to pursue a ‘reorg’ approach which would mean working with Bitcoin Core developers to roll back the transactions to undo the theft. This action was deemed questionable as the legitimacy of bitcoin was put under the spotlight and therefore was not pursued.
Despite Bitfinex being in the news for covering up their $850M loss with Tether, they’re planning an exchange token offering of ‘LEO’ and according to a shareholder, they’ve already received mixed commitments for $1Bn.
During the ConsenSys organised Ethereal Summit in Brooklyn, ConsenSys CEO predicts the re-election of Trump in 2020, the Ethereum Foundation plans on spending $30M in the next 12 months and Decentralised Finance applications or DeFi was a recurring theme at the summit but its importance is being questioned.
Polite request: have you got a friend who’s interested in cryptocurrency and blockchain? We’d really appreciate it if you could forward them this issue! 📨
![Binance says more than $40 million in bitcoin stolen in ‘large scale’ hack [Updated]](https://s3.amazonaws.com/revue/items/images/004/562/194/thumb/GettyImages-919078630-2.jpg?1557316476)
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