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Kraken ramps up donations to Ulbricht amid $47M wallet rumors

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Cryptocurrency exchange Kraken has publicly denied any involvement in a Bitcoin wallet tied to Ross Ulbricht, the founder of the Silk Road marketplace, following widespread speculation. The wallet, which holds approximately $47 million in Bitcoin, recently saw activity that triggered rumors of a connection to donations or transactions facilitated by Kraken. In a statement on January 23, the exchange clarified it had no ties to the wallet or related transactions.

The rumors began circulating after blockchain data revealed movements in the wallet, which has been dormant for years. Speculation intensified as some suggested the funds could be linked to Ulbricht’s ongoing efforts to secure clemency or fund his legal appeals. However, Kraken emphasized that it has no involvement in handling funds associated with Ulbricht or the Silk Road. The company also reaffirmed its commitment to regulatory compliance and transparent operations.

Ulbricht, who is serving a double life sentence for his role in operating the Silk Road, has remained a polarizing figure within the cryptocurrency community. His supporters have continued to advocate for his release, often leveraging Bitcoin and blockchain technology to raise awareness or funds for his legal defense. While the recent wallet activity remains unexplained, the incident has reignited conversations about Ulbricht’s case and its broader implications for the crypto industry.

The rumors and subsequent denial highlight the sensitivity surrounding transactions linked to high-profile criminal cases in the cryptocurrency space. Blockchain transparency ensures that movements can be traced, but interpreting these movements remains speculative without concrete evidence. Kraken’s swift response to the rumors underscores the importance of maintaining trust and clarity in an industry often scrutinized for its association with illicit activities.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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