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2022-06-16 10:25:52 Contact Me
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2022-06-15 07:35:02 El Salvador Finance Minister: Bitcoin Crash Poses 'Extremely Minimal' Fiscal Risk

The ongoing crypto market crash poses an "extremely minimal" fiscal risk to El Salvador, which has purchased millions in Bitcoin for its treasury, the country's finance minister said on Monday.

"When they tell me that the fiscal risk for El Salvador because of Bitcoin is really high, the only thing I can do is smile," El Salvador's finance minister Alejandro Zelaya said at a press conference, per a Deutsche Welle report. El Salvador became the first country to make Bitcoin legal tender last September, brushing aside sharp criticism from the International Monetary Fund (IMF). Since then the Central American nation acquired a total of 2,301 Bitcoin, spending $103 million across ten purchases.

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2022-06-14 08:10:04 Pennsylvania pharmacist feeds thousands of homeless using crypto

Pennsylvania-based pharmacist Kenneth Kim had always “wanted to do something with crypto” that could “make the world a better place”. In 2019, he founded what is known today as Crypto for the Homeless (CFTHL), a New Jersey registered non–profit organization, which has fed more than 5,000 homeless people around the world through the use of digital currencies.

Whilst he was a pharmacy student at Temple University in Philadelphia between 2018 and 2021, Kim would walk past scores of homeless people just on his route between the campus and his home. It was also around this time that the new Blade Runner 2049 movie was released, depicting a dystopian future where people are augmented by technology, but the gap between rich and poor are as wide as ever. Instead of begging for money, the homeless were begging for digital credits.

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2022-06-13 13:53:02 Do Kwon Refutes Claims of Cashing Out $2.7 Billion Before the LUNA-UST Fiasco

Do Kwon has rejected claims of cashing out $2.7 billion before the UST-LUNA fiasco as “categorically false.” The founder and CEO of Terra, Do Kwon, has refuted recent claims that he has cashed out a whopping $2.7 billion before the fiasco that led to UST losing peg and LUNA crashing to $0.

Well-known anonymous Twitter account FatManTerra made another massive allegation yesterday, arguing that Do Kwon, the founder, and CEO of Terra, cashed out a whopping $2.7 billion over the span of months prior to UST’s depeg in May. FatMan alleges that Do Kwon had used Degenbox – a borrowing protocol in the Abracadabra ecosystem, allowing users to stake collateral to buy UST, put it into Ancor, then used the staked UST (aUST) to borrow more UST, put it into Anchor once again, and so forth – a loop. Hours later, Do Kwon took it to Twitter to completely refute the claims.

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2022-06-12 08:47:02 True Global Ventures joins $42.5m funding round of French crypto company Coinhouse

Coinhouse, a digital assets service provider based in France, raised 40 million euro ($42.5 million) in a funding round joined by True Global Ventures 4 Plus Fund among others, according to a news release on Thursday.

Other participants were bank ODDO BHF, investment funds Tioga Capital, XAnge Siparex Innovation, Raise Ventures, CF Partners, ConsenSys and Expon Capital as well as several French business leaders. Coinhouse has quadrupled its workforce in less than two years and is positioning itself as a support platform allowing individuals and companies to invest in about 50 different crypto assets as well as in crypto savings management products.

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2022-06-11 09:23:02 US Treasury Secretary Yellen: Crypto is Not Suitable Option for Retirement

Janet Yellen – an American economist who serves as the 78th US Secretary of Treasure – believes people should not rely on investing in cryptocurrencies as part of their retirement strategy. In her view, the asset class is “very risky,” while Congress should advise broad society about the danger.

The American politician Janet Yellen does not fit the bill as a proponent of the cryptocurrency sector. As such, it is no wonder she warned people who contemplate adding digital assets to their retirement plans that this might not be an appropriate step. Two years ago, she argued that bitcoin and the altcoins could provide certain benefits for the US financial system, but at the same time, they could be used for terrorist financing and money-laundering activities. Shortly after, Yellen labeled BTC as a highly speculative asset inefficient for transactions.

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2022-06-10 17:52:20 Bitcoin Breaking pinned a photo Open / Comment

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2022-06-10 08:58:02 20 Million Optimism Tokens (OP) Swiped After a Transfer Error

An unknown attacker managed to steal 20 million OP tokens, which were incorrectly sent to a Layer-1 ETH wallet, instead of a Layer-2 Optimism address. The Optimism Foundation, a non-profit organization that promotes sustainability via software centered around Ethereum tech, recently launched its Optimism Token (OP) on various centralized exchanges.

Unfortunately, it encountered serious issues shortly after it got off the ground. In the course of a deal with Wintermute, a partnered liquidity provider, 20 million OP were redirected and sent to an unaffiliated wallet after a Tornado transfer meant to obscure the history of the address in question. In preparation for the ill-fated transaction, Optimism had sent two separate test transfers to Wintermute, both of which were confirmed to have reached the intended recipient. However, the tokens never made it to their intended destination.

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2022-06-09 09:16:02 Play-to-earn game Axie Infinity's revenue continues to slide

Axie, the darling of the P2E world, experienced a meteoric rise in popularity in the summer and early fall of 2021. At its peak, the game accrued over $215 million during the week of August 8, 2021. In October of that year, Axie's creator Sky Mavis had even reached a $3 billion valuation after a $152 million funding round led by a16z.

Too much of the Axie’s in-game token, Smooth Love Potion (SLP) was issued without ample ways to destroy, or burn, the token. This lead to inflation that caused the token to lose value, disincentivizing players to continue using the game. Sky Mavis attempted to instill more burn mechanisms into the game, but it does not appear to have had the desired affects.

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