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CoinCodeCap Weekly brings you an entire week’s news in one article. Got no time to stay updated during weekdays? No worries, we got your covered!
15 January 2022
USDC’s supply has surpassed USDT’s on Ethereum. USDT’s total supply on all blockchains remains higher than USDC’s. DeFi and Blockchain are the major driving factors. Constant upward shifts in the market have caused the phenomenon.
PeckShield Inc. informed people that the $FLOAT price oracle used in FloatProtocol is manipulated to drain about 350ETH value of funds from the affected pool. According to FloatProtocol, their RariCapital pool just experienced effects from a weak oracle and only primarily protocol-owned liquidity has been affected by this incident. Float Protocol Pool 90 on RariCapital pool suffered effects from a lack of liquidity in the Uniswap V3 FLOAT/USDC oracle which led to severe price manipulation.
The Russian internal intelligence service (FSB) reported that 14 alleged members of REvil were raided at 25 residences across Moscow, St Petersburg, Leningrad, and Lipetsk. Russian authorities seize $5.5 million, $600,000 in US money, and 500,000 Euros from the houses of the REvil leaders. REvil was involved in MacBook pro design hacks last year.
Hong Kong begins discussions to introduce a stablecoin regulatory framework. Hong Kong regulator is seeking feedback from the public and stakeholders. HKMA listed five possible choices for regulating crypto assets.
Bitcoin was expected to conclude the year at $60,000 or higher, according to 55% of JPMorgan’s clients. In a study, global investment bank JPMorgan questioned its clients what they expect bitcoin’s price will be by the end of the year. JPMorgan Chase & Co. has polled its clients to see what they expect the price of bitcoin will be by the end of the year.
According to a new LinkedIn study, the number of crypto-related employment increased dramatically last year, “leading to disruption across industries.” Many job posts using terms like “bitcoin,” “ethereum,” “blockchain,” and “cryptocurrency” include terms like “bitcoin,” “ethereum,” “blockchain,” and “cryptocurrency,” according to professional social media.
San Diego State University SDSU has started accepting Bitcoin as donations. The university has set up an endowment fund named, The Montezuma & Satoshi Cryptocurrency Endowment. Only 1% of the funds’ holding will be used each quarter.
16 January 2022
Catherine Wood stated that Bitcoin is the first global private digital currency system based on rules. During an appearance on a panel last year, Cathie Wood weighed in on her support for Bitcoin.
17 January 2022
Walmart is rumoured to be working on its own cryptocurrency and non-fungible token collection (NFTs). Late this month, the big-box retailer filed several new trademarks indicating its intention to create and sell virtual items. The company stated in a separate filing that it would provide customers with virtual currency as well as non-fungible tokens, or NFTs.
Australian Open launches its first virtual tournament on Decentraland. Supporters will have unrestricted access to exploring the Australian Open and enjoy added benefits. AO has sold the Art Ball NFTs within a few minutes of the public sale going live.
Mike Tyson tweets about Solana again. Fans have different views to share. Solana’s instability may pose it as a high risk. Continous DDoS attacks are feared. This incident has led to its instability regarding its price. This hike came after a 15-week low seen on January 10.
A Whale sold and OHM Price falls by 44% Within an Hour. (OHM) is a decentralised finance solution built to help Decentralised Autonomous Organisations (DAOs) and DeFi solutions raise money by issuing bonds?
On February 6, the Tamil Nadu pair will conduct their wedding reception on Metaverse. An avatar of the bride’s late father will preside over the virtual wedding. Users can customise their avatars by giving them names, outfits, styles, and personalities. The goal is to create a virtual environment that looks and feels like the real one. Dinesh, an IIT Madras project associate, said he had been interested in crypto and blockchain technology.
A bitcoin user lost $1.14 million to online thieves impersonating MicroStrategy CEO Michael Saylor. The user sent the equivalent of 26.4 bitcoins (BTC) to an address confirmed as a bitcoin scam by crypto tracking service Whale Alert.
Don’t target the general public for business, MAS tells crypto service providers. Service providers should only market their activities on their own websites, mobile applications, or official social media. The guidelines come after MAS has observed some service providers “actively promoting services.
CertiK detected multiple flash loan attacks with $BURG with a loss of around $770K currently. Crypto Burgers will create a new token as soon as possible together with a new contract where the liquidity will be added again.
Peckshield confirmed that Crypto.com has lost approximately 32M Dollars, out of which there are at least 4700 ETH and half of which are being drained using TornadoCash. Crypto.com tweeted and informed people that they have a small number of users reporting suspicious activity on their accounts. Crypto.com halted withdrawals from its platform a few hours ago in response to several “thefts” reported by customers.
18 January 2022
A foundation in Northwest Arkansas is offering $10,000 in free bitcoin to attract tech workers. The deal also includes a free bike, and more than 35,000 people have applied so far. It’s one of more than a dozen US programmes aimed at attracting remote employees that were developed during the pandemic.
Modi calls for worldwide participation in Cryptocurrency. The Prime Minister has been vocal about his concerns related to digital currency. RBI is against the practice of the use of cryptocurrency in the country. Prime Minister Modi is responsible for taking the final decision regarding cryptocurrency.
Beeple’s $69 M Masterpiece Gets a Tribute by DeepBlack Historical NFT Project. A broad church of initiatives and collections dubbed “historically significant NFTs” is creating a current and reasonable prediction. This event led in October 2021, when Christie’s auctioned a complete set of My Curio Cards for $1.2 million.
South Korean Broadcaster KBS Opens Metaverse for 2022 Elections. KBS has built a replica of its news studio on Zepeto. Visitors will get to explore the broadcaster’s studio. Crypto emerges as a presidential campaign issue in South Korea. Candidate Lee Jae-Myung is supporting the technology.
Crosswise hacked leading to the loss of $879K. PeckShield Inc. Tweeted and informed people that they have located the root cause behind the crosswise hack. Crosswise informed people that their funds would remain safe and continue to farm and stake. They have asked people to not buy $CRSS until further notice to avoid the attack repeating.
Bukele’s unexpected answer to Moody’s rating agency. According to Moody’s, El Salvador’s credit risk may increase if it continues to acquire bitcoin. The country’s credit rating was lowered to “very high risk” by the rating agency in July.
One of Germany’s oldest banks to be acquired by BitMEX to become a regulated crypto product powerhouse. The transaction is part of BitMEX Group’s “ambitious ambition” of positioning itself as a strong player in Europe.
OKEx, a leading cryptocurrency trading platform, has announced that it will rename OKX on January 18th. The company’s name change from OKEx to OKX symbolises the platform’s growing number of opportunities. OKX intends to provide investors with self-custody of their digital assets by allowing them access to decentralised assets and technologies.
19 January 2022
Microsoft is buying Activision for $95 per share. Activision CEO Bobby Kotick will continue his lead until the deal closes. This addition will make Microsoft the third largest gaming company. Microsoft is optimistic about this addition and stated that it would help grow its services across all devices and platforms like mobile, PC, console, and cloud gaming.
OpenSea buys Dharma Labs. Navel Hollander is appointed as the new CTO. Dharma’s Ethereum wallet will be shut down as a part of the deal and will create some controversy as users will have only a month to offload their assets to a different account. Clients used to connect their bank accounts, purchase and trade tokens while engaging with several elements of the DeFi ecosystem using the wallet.
Iran to pilot national cryptocurrency in the future. CBI Vice Governor for Information Technology Affairs Mehran Moharamian stated that the bank sees cryptocurrencies to resolve inconsistencies and decentralise resources.
Milo now allows US citizens to buy a home solely with Bitcoin as collateral. Fintech in real estate Milo will launch the first bitcoin mortgage offering in the United States, allowing clients to use their bitcoin holdings to buy real estate in the country.
Luxury carmakers Mercedes and Lamborghini get in on the NFT. The Daimler AG brand intends to launch a Mercedes-Benz-branded NFT collection based on its G-class vehicle line. Lamborghini announced an NFT collection announcing five digital artworks accessible through the ownership of special physical keys.
American banker to debut bitcoin buying and selling on mobile banking. An estimated 300 banks will debut in the first or second quarter with the support of fintech firm NYDIG, allowing users to buy and trade bitcoin through their mobile banking app. As part of the endeavour, the banks, the American Bankers Association, and the Independent Community Bankers of America have invested in the company.
20 January 2022
Google Forms Blockchain Group Under Newly Appointed Executive. Alphabet, the parent company of Google enters blockchain. Shivakumar Venkataram will lead the group. Google is now paying attention to the crypto world.
Reddit Co-Founder says 90% of games in 5 years will be blockchain “Play-To-Earn” titles. Ohanian thinks those games will dominate the gaming world in five years. People will value their time more and only play a game that pays well.
MultiChain Protocol Got Some of the Funds back. For experienced users who had registered the six tokens (WETH, PERI, OMT, WBNB, MATIC, AVAX) in their addresses, the identified vulnerability remains critical. For $1.5 million, a flaw in the Multichain protocol (which affects users who haven’t cancelled permissions) was exploited. One hacker made off with $200,000 but is now proposing to refund the majority of the money to the original owner.
Tax breaks for crypto millionaires stir outrage in Puerto Rico. The major attraction to the island is Act 60. Locals aren’t thrilled about this inflow of occupants as the capital gains and tax exemption only apply to non-Puerto Ricans. So an organisation has pushed back the tax cuts and goes by #AbolishAct60.
Facebook and Instagram are working on a feature that will allow users to see NFTs of their social media profiles, and a few people familiar with the issue have produced tokens that users can collect. Users will be able to produce and sell non-fungible tokens, according to Meta’s proposals.
Funds lost in 2021 increased by 40x when compared to 2020. Most cryptocurrencies received scam addresses, like in past years, wound up on conventional exchanges, resulting in crypto users losing their assets. In 2021, DeFi incidents alone lead to a loss of approximately $1.78 Billion as compared to $25.4m in 2020.
21 January 2022
Serena Williams, one of the best tennis players of all time, has joined the board of directors of Sorare, a $4.3 billion blockchain-based fantasy soccer game. Sorare, for Williams, straddles the line between her crypto and sports interests. She made a personal investment in Sorare in addition to her board position.
The Bybit NFT platform was formally launched by Bybit. Monsters Galaxy, ONBD, and REALY’s exclusive NFTs will all be released at the same time. Bybit will also release limited-edition collaborative NFTs from up-and-coming artists, celebrities, and athletes.
Operators of Bitcoin ATMs in Singapore have halted operations until additional clarification from the central bank in light of new instructions. Until the MAS clarifies the new guidelines, there will be no crypto ATMs in Singapore.
Earlier today, Bitcoin plunged by approximately 8% hitting a low of $38,220, one of the lowest in 3 months. Other tokens such as Ethereum, Dogecoin, Solana, and others also show a downward trend. The crypto market has been facing managerial pushback.
The long-awaited report on central bank digital currencies was released by the US Federal Reserve. The Fed described the benefits and drawbacks of a central bank digital currency, also known as a CBDC, in a 40-page paper due last summer, and invited public feedback. In order to pursue a CBDC, the Fed indicated it needed wide public and government support, and it requested stakeholders to provide feedback on a list of 22 issues.
Indian Government needs more time to finalize the crypto bill as it is a “complex subject”. The Government is reworking the crypto bill. Major crypto exchanges have been found eluding “massive” GST taxes.
Binance teams up with the Portuguese blockchain alliance, a non-profit organisation that comprises Microsoft, Vodafone, BBVA, Everis, and more than 20 leading law firms in Portugal, among others.
President Nayib Bukele of El Salvador is pushing the limit by making Bitcoin legal tender in the real world. The government of El Salvador is working on a Bitcoin-backed loan product for micro and small businesses across the country. As a result, in the near future, tiny and micro-businesses will be able to qualify for low-interest loans secured by Bitcoin (BTC).
The first real store for buying and selling bitcoin to open in Portugal. BitBase’s first cryptocurrency store outside of Spain will debut on January 24. It will be in Lisbon, where multiple digital currency ATMs will be installed.
Binance has been found to have kept weak money-laundering checks as per the documents found by Reuters later on Friday evening. Reuters spoke with dozens of former Binance executives, advisers, and business partners and reviewed hundreds of documents, including sensitive correspondence between Binance and national regulators and internal corporate messages.
The beta version of Robinhood’s bitcoin wallet is now available to customers. The send and receive flow has yet to be finalized by Robinhood. Based on user input, Robinhood will make changes. While crypto-related cybercrime is rising in the United States and elsewhere, Robinhood claims to have built security safeguards surrounding identity verification and authentication into their wallet product.