Crypto Bubble

2023-05-05 10:00:09 ​WallStreetBets mod dumps memecoin worth $635K in alleged rug pull

Within two days, the token’s price plummeted from an all-time high of $0.00067279 to an all-time low of $0.00004827.

A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets.

On May 2, WSB was launched by people involved in moderating the WallStreetBets Reddit forum. The subreddit gained notoriety for the GameStop short squeeze, sending hedge funds to their knees in January 2021.

The creators of the WSB token claimed that there would be no allocation for the team and that 10% of the coins would be reserved for the subreddit. The website writes:

“It’s the fairest launch memecoin you will find with no team allocation and no presale. Just a free airdrop and some coins for the community. 10% of the $WSB supply is reserved as a treasury for the r/wallstreetbets sub to do with as they please.” Open / Comment

2023-05-03 09:00:08 ​XRP Crypto Scam Prevented as YouTube Assists in Recovering Hacked Channel

YouTube has intervened to prevent an XRP cryptocurrency scam from being promoted on the hacked popular YouTube channel DidYouKnowGaming.

Last week, the team behind DidYouKnowGaming warned on Twitter that they have lost access to their YouTube channel, which has 2.4 million subscribers, after their Google account was hacked.

YouTube was quick to act, asking the YouTuber for certain information in a bid to help them regain access to their account.

"We'll need to get some quick info from you & then we'll connect you w/ a specialist team who helps restore account access," the official Twitter account of YouTube said in response to DidYouKnowGaming. Open / Comment

2023-05-01 10:30:00 ​Google Cloud broadens Web3 startup program with 11 blockchain firms

Along with Google, 11 blockchain firms are now part of the Google Web3 startup program to help accelerate startups.

Technology conglomerate Alphabet has expanded the Google for Startups Cloud Program.

As of April 25, the program now includes Web3 firms such as Alchemy, Aptos, Base, Celo, Flow, Hedera, Nansen, Near, Polygon, Solana and Thirdweb. The same day, blockchain analytics firm Nansen announced that it has partnered with Google Cloud to provide real-time blockchain data for startups. Its database currently contains over 250 million wallet labels.

Currently, Google Cloud has two product suites for Web3 startups, distinguished by whether the firms have raised funding. Pre-seed companies can receive up to $2,000 Google Cloud credits valid for two years with access to events such as Paris Blockchain Week, Consensus and TOKEN2049 Singapore, where Google will participate. Open / Comment

2023-04-28 10:00:11 ​ECB’s Panetta Reinforces Digital Euro Focus on Payments

Fabio Panetta, a member of the executive board of the European Central Bank (ECB), announced the digital euro project was entering its final phase. Before the committee on economic and monetary affairs of the European Parliament, Panetta stated that the digital euro, if approved, would be focused on making payments easier for Europeans.

Fabio Panetta, a member of the executive board of the European Central Bank, announced that the digital euro project was reaching its final stages of research, and stated that one of the first goals of the project is to establish it as a universal payment method. Open / Comment

2023-04-26 09:45:00 ​Over 30% of TikTok videos on crypto investments are misleading

TikTok videos tagged with popular crypto-related hashtags — such as crypto, cryptok and cryptoadvice — have cumulatively garnered over 6 billion views.

More than one-third of crypto influencers on TikTok, the go-to social media platform for the younger generation, have posted misleading videos about Bitcoin and other cryptocurrency investments, according to a recent study.

Many people now rely on TikTok as their first source of information rather than going to Google for answers, but the recent study from daapGamble alleges that many influencers are sharing unvetted misinformation about crypto investments, often trying to convince unwary viewers to put their — or their parents’ — hard-earned money into cryptocurrencies that will lose them money. Open / Comment

2023-04-24 11:30:00 ​Ukraine to Adopt Europe’s Crypto Rules, Clarifies Taxation

Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions.

A regional leader in crypto adoption, Ukraine now plans to follow in the footsteps of the global leader in crypto regulation, the European Union.

On Thursday, European lawmakers gave their final approval to the Markets in Crypto Assets package. Open / Comment

2023-04-21 11:00:04 ​De-Dollarization: China, Brazil Can Be Instrumental in Building Less Centralized World With No Hegemony, Says Lula’s Adviser

Brazil’s President Luiz Inacio Lula da Silva’s chief adviser on foreign policy, Celso Amorim, says China and Brazil “are coming closer together” and they could play important roles in building a less centralized world with no hegemony. Commenting on de-dollarization, he stressed: “I think it’s very important that we are free from the dominance of one single currency because sometimes it is used politically.”

China and Brazil have agreed to conduct trade in their respective currencies, rather than using the U.S. dollar. Additionally, both countries are part of the BRICS group that is reportedly working to create a new form of currency that will further shift them away from USD reliance. Open / Comment

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2023-04-17 10:59:12 ​Circle exec to join US Congressional committee hearing on stablecoin payments, legislation.

The Financial Services Committee issued a memorandum to announce an upcoming hearing titled “Understanding Stablecoins’ Role in Payments and the Need for Legislation.”

The United States House Committee on Financial Services will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether the ecosystem needs supporting legislation. Open / Comment