Animoca Brands is In Discussions with Sky Mavis Team About Compensation for the Hack

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Today’s Cryptocurrency Headline

Animoca Brands co-founder Yat Siu said that they are  in discussions with the Sky Mavis team about compensating damaged players in Ronin’s hack but declined to comment further. In addition, Yat Siu said that the recent hack against Axie Infinity sidechain Ronin might change the attitude and responsibility of venture capitalists (VC) towards investing in the crypto space; VC firms investing in crypto should be prepared to help companies in any unfortunate case of a hack; it will become more important to conduct a close audit of code and security protocols before investing.

BingX’s Bitcoin Chart

Source: TradingView& BingX

The core PCE price index in the United States recorded an annual rate of 5.4% in February, setting a new high since 1983. BTC is down 3.3% over the last 24 hours and has fallen to an intraday low of $45,200. The relative strength index (RSI) is declining from overbought levels on the daily chart, which typically precede pullbacks in price. For now, the bulls need to maintain the price above $45,000 to prevent further decline.


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