Ethereum and Dogecoin Both Gained Over 5%, Coindesk Reported Saturday Morning
Bitcoin was trading 6.37% higher on Saturday morning.
According to Coindesk, the price was around $47,800 per coin, while rivals Ethereum and Dogecoin were trading around $3,300 (+5.6%) and 21.7 cents (+5.05%) per coin.
Just 24 hours ago, bitcoin was above $45,000. The recent surge in cryptocurrency in the US is being attributed to a positive two-hour meeting on Thursday between US Federal Reserve Chairman Jerome Powell and members of the House Financial Services Committee.
Elon Musk Says Cryptocurrency Regulators Should ‘Do Nothing’ and ‘Let It Fly’
At that meeting, Powell said that he did not intend to ban cryptocurrencies, but added that stablecoins need more regulatory oversight.
In other cryptocurrency news, hackers took advantage of a vulnerability and circumvented Coinbase’s multi-factor authentication SMS option, CoinDesk reported on Friday. The action affected at least 6,000 customers of the exchange, according to a notification letter sent to the affected customers, according to paperwork the company has filed with the California state attorney general offices.
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The report states that between March and May 20, hackers or hackers exploited a flaw in Coinbase’s account recovery process to obtain SMS two-factor authentication tokens to break into customers’ accounts and transfer funds from them. used.