Today’s Crypto Highlights
Latest Trends and Events Impacting the Crypto Market
- ChatGPT-Coded Memecoin Surges: A memecoin created using the OpenAI chatbot ChatGPT has reached a market valuation of $638 million in just over a year.
- Bitcoin Dips Following Mt. Gox Movements: Bitcoin saw a slight drop after the defunct exchange Mt. Gox transferred billions.
- Ethereum Re-Staking Exploit Recovery: A victim of an Ethereum re-staking exploit recovered most of their lost funds.
- Argentina Examines El Salvador’s Bitcoin Activities: Argentina is investigating El Salvador’s Bitcoin implementation for insights.
ChatGPT-Created Memecoin Reaches $638 Million Market Cap
A memecoin developed using ChatGPT with an initial budget of $69 has achieved a market capitalization of $638 million. On May 28, the price of this memecoin, named Turbo, surged to an all-time high of $0.009302, as reported by CoinGecko.
1-year price chart for the Turbo token. Source: CoinGecko
Bitcoin Dips as Mt. Gox Moves Over $7 Billion
On May 28, Bitcoin (BTC) dipped by 2% after Mt. Gox moved over 107,000 BTC, valued at nearly $7.3 billion, to an unknown wallet. This transfer was part of Mt. Gox’s plan to return BTC to creditors by October. Whale Alert highlighted these transactions, showing multiple movements of BTC from Mt. Gox cold wallets to a single address.
Source: Whale Alert
Ethereum Re-Staking Exploit Victim Recovers 80% of Funds
An Ethereum user who lost 1,807 liquid staked Ether, worth nearly $7 million, has recovered most of their losses. The attacker kept a portion as a bounty and returned the rest on May 26. The victim reclaimed 1,445 ETH, approximately 80% of the stolen funds. The exploit involved phishing and compromised wallet signatures.
Argentina Seeks Insights from El Salvador’s Bitcoin Experience
Argentina’s government is collaborating with El Salvador to understand its Bitcoin adoption and cryptocurrency activities. Officials from both countries met on May 23 to discuss cryptocurrency regulation and usage. Argentina is preparing a decree to legalize Bitcoin and other cryptocurrencies for payments under certain conditions.
