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Showing posts from November 10, 2021

Beeple’s Discord compromised, timed to coincide with Christie’s auction

Users thought they were signing up for an affordable NFT drop by the famed artist, timed to coincide with his second Christie's auction. An admin account for Beeple’s official Discord group was compromised overnight resulting in a fake NFT drop that saw users lose an estimated 38 ETH. An admin from Beeple's Discord named "Multi" confirmed to the group on Nov. 10 that their account had been compromised despite having 2FA. The perpetrator went on to impersonate Multi and the Beeple Announcements Bot to promote a fake NFT drop from Beeple on Nifty Gateway. The incident is the latest in a long line of Discord hacks that have caused users substantial losses. Discord members were primed to expect Beeple to run a cheap drop on the back of his most recent auction since he has done it before, with raffles that saw users snap up his NFTs for as little as $1. Fans kept tabs on the the Discord channel and Beeple's Twitter all day for a chance to snap up some bargain NF...

Bank of England Governor Warns Crypto Is Providing Means of Payment for Criminals

Bank of England Governor Andrew Bailey has warned that crypto assets are providing another means of payment for people who want to conduct criminal activity. Bank of England Governor Andrew Bailey Sees Crypto Helping Criminal Activities The governor of the Bank of England, Andrew Bailey, said during an online question-and-answer session organized by the British central bank that the rise of cryptocurrency is helping illegal activities. He was quoted as saying: The advent of digital means of payment, and in particular crypto assets, I’m afraid that the evidence suggests … that it is providing another means of payment for people who want to conduct criminal activity. Governor Bailey has warned about various aspects of cryptocurrency on several occasions. He said in May: “I’m skeptical about crypto-assets, frankly, because they’re dangerous and there’s a huge enthusiasm out there.” He also stated that cryptocurrencies “have no intrinsic value.” However, the Bank of England gover...

Bitcoin miners look toward nuclear power for sustainable energy

Several major players say that nuclear energy might be the best choice for Bitcoin miners. Major players in the Bitcoin ( BTC ) mining industry have their sights set on nuclear energy as pressure mounts to go green. Nuclear energy could present a “tremendous opportunity” to introduce “enormous amounts of clean, carbon-free” energy to the base load, said GRIID vice president Harry Sudok at the ‘Bitcoin & Beyond Virtual Summit’ on Nov. 10. GRIDD is an American company that procures low-cost, renewable energy to build vertically-integrated Bitcoin mining facilities. According to Sudock, past subsidy programs and discourse about renewable energy have largely focused on solar and wind power and neglected to consider the potential benefits of nuclear energy. “The growth rate is largely focused around solar and wind right now, and that’s just the reality of the programs that have been rolled out over the last 8-10 years. But what we’d love to see is an expansion of nuclear,” he said...

Elon Musk offloads $1.1B in Tesla stock

The eccentric billionaire polled his Twitter followers but already had the sale planned due to tax obligations. Tesla CEO Elon Musk has offloaded more than one billion dollars worth of shares according to recent financial filings. Filings submitted on Nov. 11 to the Securities and Exchange Commission confirm the sale of more than 934,000 Tesla shares worth around $1.1 billion. Musk sold the shares at an average price of around $1,170, locking in almost 180% in gains in prices over the past year. It is just the third time Musk has sold company stock since Tesla went public on the Nasdaq in 2010, and it is his largest transaction. The filings show that Musk planned to sell the stock as part of his tax obligations back in September. He polled his 63 million followers at the weekend, asking whether he should sell 10% of his Tesla holdings. Of the 3.5 million respondents, almost 58% said yes. However the Tesla CEO has sold less than 1% in this sale and still holds more than 170 ...

Ripple Launching Liquidity Hub Despite SEC Lawsuit Over XRP

Amid an ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) over XRP , Ripple is launching a new product, Liquidity Hub, which aims to be “a one-stop shop for enterprises to source any tokenized asset.” The product “will allow customers to seamlessly access crypto assets from a variety of global venues, including market makers, exchanges, OTC desks and in the future decentralized venues,” the company detailed. Ripple Liquidity Hub Allows Customers to ‘Seamlessly Access Crypto Assets From a Variety of Global Venues’ Ripple announced Tuesday that it is launching a new product called “Ripple Liquidity Hub.” The announcement explains: Ripple Liquidity Hub will allow customers to seamlessly access crypto assets from a variety of global venues, including market makers, exchanges, OTC desks and, in the future, decentralized venues. Asheesh Birla, general manager at Ripple, explained that the new product aims to be “a one-stop shop for enterprises to source any tokeni...

Proshares Bitcoin futures fund in top 2% of all ETFs for volume

While BTIO is going from strength to strength with a total of $1.4 billion worth of inflows since late October, one expert thinks that VanEck’s Bitcoin spot ETF has a 200-1 chance of being approved by the SEC. Since its launch on Oct. 19 Proshares’ Bitcoin futures exchange-traded fund (ETF) has been a popular choice with traders, rising to the top 2% of all ETFs in terms of total trading volume. Bloomberg’s Senior ETF analyst Eric Balchunas noted on Nov. 11 that the ProShares Bitcoin Strategy ETF (BITO) had $400 million worth of shares traded yesterday, with its average volume consistently putting it in the top 2% of all ETFs. $BITO and $BTF both had their biggest volume days in about two weeks. $BITO with a $400m traded, which is not only a ton but = 25% turnover in one day- indicating its usage as a trading tool. pic.twitter.com/ukDGeSEa6F — Eric Balchunas (@EricBalchunas) November 10, 2021 BITO has seen roughly $112.79 million combined inflows over the past nine days. Wh...

Rocket Pool Eth2 staking service launches, hits stage two cap in 45 seconds

The Eth2 staking provider only requires 16 ETH to run a minipool, and stakers with as little as 0.01 ETH can put their crypto to work on the Beacon Chain. The launch of ETH2 staking service Rocket Pool saw it hit its stage two cap in just 45 seconds according to the co-founder of hosting partner Allnodes Konstantin Boyko-Romanovsky. In its first two days of operations, Rocket Pool has registered 237 node operators across 42 global locations, with 1088 ETH staked. According to an announcement the platform now has Total Value Locked of 4000 ETH ($13.9 million USD) in value, including collateral from the platform’s Rocket Pool (RPL) token. Rocket Pool aims to become the “primary staking infrastructure for Ethereum, by providing a decentralized, easy to use staking network for individuals and businesses,” according to the whitepaper . The protocol is progressively rolling out over four weeks. During the stage one of the launch on Nov 9, protocol limit...

Robinhood Discusses Crypto Wallet Launch and Listing Strategy as Petition to List Shiba Inu Exceeds 526K Signers

The chief operating officer (COO) of Robinhood Crypto has provided an update on the company’s upcoming cryptocurrency wallet launch. The executive also discussed Robinhood’s listing strategy in response to the question of whether the platform will list shiba inu (SHIB) cryptocurrency. Robinhood Crypto’s COO Discusses Listing Strategy as Petition to List SHIB Gains More Supporters Christine Brown, Robinhood Crypto’s COO and VP of Product Operations, talked about her company’s crypto strategy at a conference Tuesday held by Yahoo Finance and Decrypt. She also provided an update on Robinhood’s upcoming crypto wallet launch. Replying to a question about whether Robinhood will list shiba inu (SHIB) and what the considerations are for adding the meme cryptocurrency, the Robinhood Crypto COO noted: “When it comes to our strategy of what we are going to list, the first thing is that we’re not going to talk about it. So I’m not going to break that news here, unfortunately.” She elaborated: ...

'Sinister' debanking of crypto traders is often anti-competitive says Senator Bragg

Senator Bragg says that his government won’t let Aussie banks to practice anticompetitive de-banking against crypto companies. Australian banks have been dressing up anti-competitive behavior as regulatory compliance when de-banking crypto customers, Senator Andrew Bragg said. “I believe many banks have been dressing up de-banking as a regulatory necessity. In fact it is often anti-competitive behavior and far more sinister and threatening than it appears on the surface,” the Liberal Senator for New South Wales said in a prepared address to the Tech Council of Australia tod. Denial of banking, or debanking, is when a financial institution chooses to no longer offer banking services to a customer. No reason needs to be given, and banks have the ability to freeze an account instantly or shut it down with very little notice. For crypto customers banks often cite concerns around Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) compliance. Senator Bragg told Cointelegr...

Record-high inflation prompts investors to take a closer look at Bitcoin

Cryptocurrency values are up, but so is the price of everything else in the United States! Investor curiosity in BTC grows as data shows U.S. inflation rose to a 30-year high. Consumers in the United States and around the world continue to feel the pinch of inflation and recent data shows that the Consumer Price Index (CPI) rose 6.2% in October when compared to last year, a development which further cast doubt on the “transitory” inflation narrative coming out of the Federal Reserve. Inflation at 6.2% means that if we keep it steady for 10 years, your $100,000 will become $54,800 by then. Compounding is a powerful force. Satoshi is having somewhere right now. #Bitcoin pic.twitter.com/THtshLF1Y0 — David Marcus (@davidmarcus) November 10, 2021 As a result of the high print, traditional financial markets took a hit on November 10 as concerns about runaway inflation and the loss of purchasing power weighed heavily on the minds of investors and major indicies pulled back from new re...

While BTC Skyrocketed to $69K, Whale From 2013 Transfers $147 Million Worth of ‘Sleeping Bitcoins’

Following the string of 20 block rewards spent on Wednesday, an idle bitcoin wallet that was created on July 10, 2013, transferred 2,207 so-called ‘sleeping bitcoins’ worth over $147 million. Both of these massive transactions took place on the same day bitcoin reached an all-time price high at $69,000. 2013 Whale Transfers 2,207 Bitcoin Worth $147 Million On Wednesday, November 10, 2021, a ‘forgotten’ stash of bitcoins that sat idle for eight years and four months woke up for the first time since the wallet’s creation. The action was caught by Btcparser.com and the massive whale spent 2,207 bitcoin worth well over $147 million. The original address was first created on July 10, 2013, and it contained approximately 2,207.60 BTC which was split into two addresses. The first output sent 300 BTC while the second output sent 1,907.5997 BTC and the rest of the funds were used for network fees. The privacy of the transaction from 2013 got a score of 45 (low privacy) on Blockcha...

MUNCH Hits Record-Breaking 1000 ETH Charity Donation Milestone

PRESS RELEASE. Charity donation project MUNCH announces the ground-breaking milestone of donating over 1000 ETH to various charitable projects, making MUNCH the world’s leading charitable crypto project. MUNCH is a Defi project that incorporates automatic donations into financial transactions. 3% of every MUNCH transaction is diverted, automatically converted to ETH , and then routed to a community-chosen and verified charity. It requires no action or decision making and gives people autonomy over their investments. MUNCH converts donations at the point of the transaction and sends it directly to the charity’s wallet address. This means that donations do not destabilize the token’s value and the charities can either store the ETH which has a relatively stable value or choose to auto-convert directly to FIAT as soon as they receive the donations. Utilizing blockchain technology creates a system of automated, trustless donations, MUNCH has just celebrated the tremendous mile...

The city of Philadelphia rolls out its own blockchain initiative

City official said they are seeking comments from crypto innovators on how to integrate blockchain within the municipal government. City of Philadelphia Chief Innovation Officer Mark Wheeler announced an initiative to bring blockchain technology to city government on Monday. The project has invited people working in the blockchain and smart contracts space to contact staff working on the project to see how crypto technology could be useful within municipal government. Wheeler tweeted that he was inspired by the blockchain forward efforts of Miami, where Mayor Francis Suarez has touted city specific crypto tokens as a potential replacement for taxes and has opted to receive his next paycheck in bitcoin . Satoshi white paper gets notice on another big city's website. Props to @Sarasti and @CityofMiami for getting there first. #blockchain — Mark Wheeler (@Wheelmrk) November 8, 2021 The city’s website features a background informationally section about crypto that includes...

Bitcoin price briefly hits $69K ATH before plummeting back to Earth

BTC hit a new all-time high! It didn't last long, however... Bitcoin price hit another all-time high at $69,000 as Ether continued its long slog toward $5,000 after reaching a new high at $4,868 earlier today. Shortly after hitting this fresh milestone, however, traders began taking profit, leading to a nearly-$7000 drop. Interstingly, the breakout initiated right as a report from the U.S. Bureau of Labor Statistics showed a sharp 6.2% annual rise in the Consumer Price Index , a figure which is the highest in 30 years. According to the BLS, rising energy costs fueled a rise in CPI but for at least 6 months, analysts have tracked the rising costs of food and other goods. The current CPI is the highest it has been since October 1990. Core inflation, a figure that ignores the impact of the rising cost of goods, showed a 4.6% increase, a level not seen since 1991. CPI data highlights record 30-year high inflation rate. Source: FRED Amid rising inflation , the Federal Reserve an...

Largest Stablecoin by Market Cap Tether Launches on the Avalanche Network

The largest stablecoin by market capitalization, tether has announced the launch of tethers on the Avalanche blockchain protocol. The stablecoin tether has launched a myriad of blockchain networks and today there’s more than 74.8 billion tethers in circulation today. Tether Launches on Avalanche On Wednesday, Tether Operations Limited, the firm that issues the stablecoin asset tether ( USDT ) has announced the launch of USDT on Avalanche (AVAX). The crypto exchange Bitfinex has also revealed it will support Avalanche-native USDT tokens on the exchange. Avalanche (AVAX) is a smart contract platform that is both compatible and a competitor of the blockchain protocol Ethereum ( ETH ). “Tether’s token’s launch on Avalanche will aim to support the long-term growth and sustainability of the Avalanche network while driving stablecoin usage across the defi ecosystem,” the company explained on Wednesday. “ USDT on Avalanche is an essential building block for DeFi users,” Emin Gün Sirer,...

Landry’s Restaurant Group to introduce Bitcoin loyalty program

Landry’s Select Club members will be able to earn Bitcoin-centric rewards points at 500 restaurant locations around the United States. Landry’s Restaurant Group announced a partnership with cryptocurrency firm NYDIG on Tuesday that will enable diners to earn $25 worth of Bitcoin for every $250 spent at the hospitality conglomerate’s eateries. Landry’s will also begin keeping a portion of its corporate treasury reserves in Bitcoin under the care of NYDIG. The company is known for operating dozens of franchise entities including Morton’s, Bubba Gump Shrimp Company, the Rainforest Cafe, and the Palm. Landry’s is owned by billionaire TV personality Tillman Fertita, who also acts as the company’s CEO. Landry’s Director of Digital Asset Strategy Trey Zeluff said in a statement: "We view bitcoin as a good choice for a portion of our own treasury, so we want to offer that choice to our customers as well. We're proud to pioneer this concept for the hospitality industry in partner...

Influx of crypto miners to Kazakhstan reportedly strains energy supply

According to the country's vice minister of energy, addressing the potential strain on Kazakhstan’s power grid from crypto miners “cannot be delayed any longer." Now responsible for the second-largest contribution to the Bitcoin hash rate, Kazakhstan’s energy grid may be unprepared to handle the addition of many cryptocurrency miners from China and others looking to capitalize on low-cost electricity. In a Wednesday report from Reuters, government officials in Kazakhstan estimate that unregistered crypto miners in the country could be consuming twice as much power as those registered to avoid paying taxes and other fees. Together, all crypto miners in the country could be using as much as 1.2 gigawatts, or roughly 8% of Kazakhstan's total power generation capacity. According to Murat Zhurebekov, Kazakhstan's vice minister of energy, addressing the potential strain on the nation’s power grid “cannot be delayed any longer." He said officials planned to issue a ...

Fresh Bitcoin price highs put bulls in profit for Friday’s $1.2B BTC options expiry

Bitcoin’s surge to $69,000 took bears by surprise and cemented bulls expected $400 million profit at Friday’s $1.2 billion options expiry. Every time a new Bitcoin ( BTC ) all-time high is formed, excessive expectations follow. This time was no different as its price briefly touched $69,000 in the early hours of Nov. 9. Bitcoin 8h, we got our November 9th historical correction, seems to be very minor for now. Naturally I expect at bigger correction after we hit the 84k region, and then into blast off. $BTC #Crypto #Bitcoin pic.twitter.com/cfbBkOIFEK — Miles J Creative (@JohalMiles) November 9, 2021 Words are just words, so there’s no loss from being excessively bullish or bearish, but in options markets there’s a cost for placing those bets. For example, on Nov. 10, a right to buy Bitcoin (call option) at $100,000 on Dec. 31 is trading at BTC 0.022, or $1,460. For this privilege, the investor pays an upfront fee, which is also known as the premium. Analysts and pundits ...

ENS’ director of operations says that DAO-based governance ‘has always been the plan’

Brantly Millegan, AKA “Brantly.eth,” discussed the rise of DAO governance, ENS’ new constitution and community voting rights following the protocol’s major ENS token airdrop. On Monday, distributed domain protocol Ethereum Name Service, or ENS, launched its own governance token in an effort to distribute voting rights for its new decentralized autonomous organization, or DAO, to active users of the ecosystem. Cointelegraph spoke with Brantly Millegan, ENS’ director of operations, to learn more about the nonprofit’s decision to shift to a DAO model and his thoughts on the power of the ENS community: “ENS is an open public protocol. The core components of ENS are decentralized and self-running (e.g., no one can take away another person’s .ETH name), but there are a few things that require some human discretion.” He noted that previously, ENS was controlled by a four-of-seven multisignature scheme, with members of related projects acting as keyholders. They facilitated upgrades, man...

Price analysis 11/10: BTC, ETH, BNB, ADA, SOL, XRP, DOT, DOGE, SHIB, LUNA

Bitcoin’s new all-time high at $69,000 and Ether’s slow climb toward $5,000 are clear signals that bulls are in control and a hint that altcoins intend to follow. Bitcoin ( BTC ) and Ether ( ETH ) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls. In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017. Bitcoin had rallied 220% in 4Q 2017 and if history repeats itself, Bitcoin could reach $96,355 , which could potentially be this cycle’s top. Daily cryptocurrency market performance. Source: Coin360 Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” report. Another positive is that investors continue to withdraw coins from centralized exchanges whose share of supply has dropped to a new record low at 12.9%. Can Bitco...