eToro reports record crypto profits, and Poly network hacker returns all money
eToro reports significant growth in cryptocurrency revenueAccording to information from the eToro crypto platform report for Q2 of this year, the company earned $264 million in commissions for transactions with digital currencies. This is more than 20 times higher than the figures for the same period last year.
It is commissions that make up 73% of all eToro’s revenue. In the second quarter of 2020, such commissions accounted for only 7% of the total.
Interestingly, bitcoin is not very popular among platform users. The share of transactions with the first cryptocurrency is 7%. This is half the size of transactions with Ethereum, ADA or XRP. Even with DOGE, eToro users are making more transactions, although the token did not appear on the platform until May.
βThe growth in self-investing and by extension the eToro platform is driven by long-term, age-old trends in investor behavior,β said Yoni Eisha, CEO and Co-Founder of eToro.
Hacker returns $610 million stolen from Poly NetworkThe hacker of the Poly Network platform returned the stolen $610 million. The hacker’s reward was $500 thousand.
Previously, Poly Network called the incident the largest hack and theft of funds in the DeFi industry. The crypto criminal was able to remain anonymous. At the same time, he introduces himself as “Mr. White Hatβ by analogy with the so-called “white” hackers.
Now the company has hired him as a security specialist and has pledged not to hand him over to law enforcement.
Research: Over 10% young Americans purchased cryptocurrency using benefits money11% of US residents between the ages of 18 and 34 spent their benefits received during the pandemic to buy digital currencies, according to a study by Momentive for CNBC. More than 5 thousand respondents took part in the survey.
About 60% of young crypto investors assess the new financial asset as suitable for long-term investments. Only 21% of respondents said that they do not intend to keep their savings in cryptocurrencies for a long time.
Analysts noted that back in March last year, only 7.5% of recipients of federal benefits preferred cryptocurrencies. About 50% of the respondents Momentive spoke to said they started investing in digital assets during this year.
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