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This Altcoin Soars 20% In One Day Following Major Saudi Arabia Partnership

The native token of the crypto exchange WhiteBIT (WBT) is leading the mid-week altcoin market after a significant 20% surge over the past 24 hours. This performance follows the announcement of a key partnership with Durrah AlFodah Holding to promote the growth of blockchain technology in Saudi Arabia. Related Reading: Solana Reclaims $140 As Second Wave Of SOL ETFs Debut – Is A Rebound Coming? WhiteBIT Secures Strategic Collab In Saudi Arabia On Tuesday, top crypto exchange WhiteBIT unveiled it had signed a strategic cooperation agreement with Durrah AlFodah Holding, represented by His Royal Highness Prince Naif Bin Abdullah Bin Saud Bin Abdulaziz Al Saud, aiming to drive the Kingdom’s development in blockchain technology, digital finance, and data infrastructure. According to the announcement, the partnership aligns with the strategic pillars of the Kingdom of Saudi Arabia Vision 2030 program, which seeks to foster economic diversification, technological innovation, and digital transformation across the Kingdom’s public and private sectors. Therefore, it will set the foundation for key projects within the Kingdom, including stock market tokenization, Central Bank Digital Currency (CBDC) guidance, and the creation of national data computing and mining centers. Under the agreement, WhiteBIT will provide technological expertise and infrastructure design, while Durrah AlFodah will facilitate the crypto exchange’s market entry, regulatory engagement, and partnership development across Saudi Arabia. The move follows the exchange’s expansion to multiple jurisdictions, including Australia, Croatia, Italy, and Kazakhstan, as well as its recent dual entry into the Argentine and Brazilian markets, after key regulatory advancements in the two largest countries in South America. The collaboration reportedly envisions the creation of a joint venture company between WhiteBIT and Durrah AlFodah to manage and scale its national-scale initiatives. Volodymyr Nosov, Founder and President of W Group, the global fintech ecosystem that includes WhiteBIT, affirmed: It is an honor to work alongside the Holding of His Royal Highness Prince Naif Bin Abdullah Bin Saud to build the foundations of Saudi Arabia’s digital transformation. Together, we aim to establish secure and sovereign blockchain systems that will shape the Kingdom’s technological future. WBT Leads Mid-Week Altcoin Market Following the news, WhiteBIT’s WBT token jumped from the $51 level to a new all-time high (ATH) of $62.96 before stabilizing between the $60-$61 area. This performance builds on the remarkable WBT’s price action during the recent market volatility, which has seen many leading cryptocurrencies reach multi-month lows. Notably, the altcoin rallied to new highs in late June and consolidated within its $40-$47 range during the broader market rally between July and October. However, as the market entered a corrective phase in early November, WBT went against the current and broke out of its local range, hitting a new ATH at the time. Related Reading: Analyst Shares Worst-Case Scenario For Bitcoin (BTC) As Price Shows Concerning Signs Since then, the altcoin traded between the $50-$55 area, retesting the local range lows on Tuesday morning before the latest breakout to its new ATH. According to CoinGecko data, this performance crowns WBT as one of the leading cryptocurrencies in the past 24 hours, alongside Zcash (ZEC) and Starknet (STRK). Moreover, the altcoin, which ranks 13th among all cryptocurrencies by market capitalization, is currently the only token with double-digit gains among the top 20 cryptocurrencies. As of this writing, WBT is trading at $60.62, a 9.8% increase for the altcoin in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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Trump’s Crypto Venture WLFI Addresses Wallet Compromise Amid Federal Scrutiny

World Liberty Financial (WLFI) announced that it is reallocating funds and confirming user identities after discovering that several wallets were compromised through external security failures. The update comes at a sensitive moment, as U.S. Visit Website NewsBTC

Cloudflare outage exposes crypto’s urgent need for decentralization

BitcoinWorld Cloudflare outage exposes crypto’s urgent need for decentralization Imagine waking up to find your favorite crypto platforms suddenly unavailable. That’s exactly what happened when a massive Cloudflare outage struck, halting services like Coinbase and Arbiscan. This incident underscores a critical vulnerability in the crypto world’s reliance on centralized infrastructure. Let’s dive into how this Cloudflare outage unfolded and why it’s a wake-up call for the industry. How did the Cloudflare outage impact crypto platforms? The Cloudflare outage disrupted approximately 20% of global internet traffic, causing temporary suspensions for major cryptocurrency exchanges and tools. Platforms like Coinbase, Blockchain.com, Arbiscan, and DeFiLlama experienced service interruptions, leaving users unable to trade or access data. This widespread disruption highlighted how dependent the crypto ecosystem is on centralized web services. Therefore, even decentralized applications can face bottlenecks when relying on centralized infrastructure providers. Why is decentralization the solution to such outages? In response to the Cloudflare outage, projects like EthStorage emphasized that true resilience requires comprehensive decentralization. This means reducing reliance on centralized systems at every level, including Layer 1 consensus algorithms. The industry must prioritize: Distributed node networks to avoid single points of failure Peer-to-peer protocols for enhanced reliability Community-driven infrastructure to bolster security By embracing these steps, the crypto space can mitigate risks from incidents like the Cloudflare outage. What lessons can we learn from this incident? The Cloudflare outage serves as a stark reminder that centralized dependencies pose significant threats to crypto operations. Moreover, it reinforces the need for robust, decentralized alternatives that ensure uninterrupted access. As EthStorage pointed out, the industry must gradually shift away from centralized systems to build a more resilient future. This approach not only enhances security but also aligns with blockchain’s core principles of trustlessness and autonomy. How can users and developers prepare for future disruptions? To safeguard against events like the Cloudflare outage, both users and developers can take proactive measures. For users, diversifying across multiple platforms and using self-custody wallets reduces exposure. Developers, on the other hand, should integrate fallback mechanisms and decentralized hosting solutions. Key actions include: Implementing multi-chain support to distribute risk Leveraging IPFS or similar technologies for decentralized storage Conducting regular stress tests on infrastructure These strategies help minimize downtime and maintain service continuity. Conclusion: Embracing decentralization for a stronger crypto ecosystem The Cloudflare outage was a powerful lesson in vulnerability, but it also ignited a crucial conversation about decentralization. By learning from this event, the crypto community can drive innovation toward more resilient systems. Ultimately, reducing centralized dependencies will pave the way for a secure and unstoppable digital economy. Frequently Asked Questions (FAQs) What caused the Cloudflare outage? The exact cause wasn’t specified, but it disrupted about 20% of global internet traffic, affecting many crypto platforms. Which crypto platforms were hit by the Cloudflare outage? Services like Coinbase, Blockchain.com, Arbiscan, and DeFiLlama experienced temporary suspensions. How long did the Cloudflare outage last? It was temporary, but the duration varied by platform as services were restored. Why is decentralization important after the Cloudflare outage? Decentralization reduces reliance on single points of failure, enhancing resilience against such disruptions. Can outages like this be prevented in the future? While not entirely preventable, adopting decentralized infrastructure can significantly reduce impact and downtime. What should I do if a crypto platform goes down during an outage? Stay calm, avoid panic transactions, and monitor official channels for updates on service restoration. If you found this article insightful, share it on social media to spread awareness about the importance of decentralization in crypto! To learn more about the latest blockchain trends, explore our article on key developments shaping Ethereum institutional adoption. This post Cloudflare outage exposes crypto’s urgent need for decentralization first appeared on BitcoinWorld . NewsBTC