CoinCodeCap Weekly: Scams, Collaborations and NFTs [29 January 2022 – 04 February 2022]

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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!

29 January 2022

The Securities and Exchange Commission (SEC) has approved BSTX, a joint venture between tZero and Boston Options Exchange (BOX) Digital Markets, to operate a blockchain-based securities exchange. 

According to a new survey, 33% of Americans say they’d prefer to go on a date with someone who mentions cryptocurrency in their online dating profile. It turns out that mentioning cryptocurrency in an online dating profile can help ignite a romantic connection. 

Goldman strategists warn that widely adopting crypto won’t result in higher prices. The strategists also said that these assets are not protected against “macroeconomic forces” and “central bank monetary tightening.”

Former CIA Official says Blockchain is a threat to US National Security. This discussion started when Bustamante brought up Blockchain while answering a question in a subreddit thread on Reddit (a news accumulation site).

The People’s Bank of China (PBoC), China’s central bank, prepares for the biggest week in the digital yuan’s history. The token will be unveiled to the world next week as the Winter Olympics begin. It will include special ATMs that can convert foreign banknotes into digital CNY holdings, wristbands, and smartphone apps.

Kazakhstan, the world’s second-largest Bitcoin miner, has announced that its crypto mines will be shut down until the end of January. After millions were affected by power outages across three Central Asian countries last week, the state electricity provider KEGOC decided to cut the supply to the miners.

Kazakhstan Power Cuts For Cryptocurrency Miners Extended
Kazakhstan Power Cuts for Cryptocurrency Miners Extended

Senator Wendy Rogers has introduced a bill proposing to make bitcoin a legal tender in Arizona. The bill also seeks to make the peer-to-peer digital currency a lawful medium of exchange there, enabling citizens to pay debts, public charges, taxes and dues with BTC. The bill proposed by her says “Bitcoin” specifically rather than cryptocurrency in general.

Flushing Financial Corporation, an $8 billion New York commercial bank, plans to enable customers to buy, sell, and hold Bitcoin. It announced plans to launch BTC-related services later this quarter.

30 January 2022

Justin Bieber purchased Bored APE yacht club NFT for 500ETH. The non-fungible token is befitted by OpenSea account. Bieber has an NFT as his profile picture. The APE might be sponsored by GianPiero.

The formation of a new blockchain team has been announced by Google Cloud. Google Cloud also stated that it is investigating the possibility of allowing customers to make and receive payments using cryptocurrencies. Hedera, Theta Labs, and Dapper Labs are among its clients.

Binance has recently been the victim of a boycott movement organised by frustrated users. The campaigners are encouraging other Binance users across Africa to join them in voice their discontent with the exchange by using the hashtag #Binancestopscamming. Users in Nigeria tell Binance to ‘Stop Scamming,’ but the exchange platform denies the accusations. 

Users In Nigeria Demand Binance To &Quot;Stop Scamming&Quot;
Users in Nigeria Demand Binance to “Stop Scamming”

According to the CEO of the United Arab Emirates-based financial institution Bank of Sharjah, Blockchain and cryptocurrencies are not only challenging to regulate but also here to stay. However, the CEO acknowledges that many banking industries are still unfamiliar with the technology despite this forecast.

The Governor of the Central Bank of Kenya, Dr Patrick Njoroge, hosted a press briefing on Thursday, January 27, 2022. In this meeting, Dr Patrick Njoroge said Kenya’s stance on cryptocurrencies remains unchanged. Njoroge revealed that the central bank will be talking more about cryptocurrencies in the near future.

31 January 2022

Jou Chou also reveals that it has several NFT collaborations. Chou’s entry will create a “celebrity effect” that will attract the globe around. The auction will take place under the banner of JBL. 

A user got rugged while using the DataDAOFinance on #FTM. He was merely trying to mind an NFT and ended up losing all his account’s HODLings while approving the smart contract transaction. Moreover, the user informed this in the Peckshield Telegram group and asked people to remove their approvals if they have approved the contract before.

Following the footsteps of other senators and governors, Governor Jared Polis shares his plans of accepting Bitcoin for tax payments. He says that Colorado will continue to be the centre for blockchain innovation. 

Binance suspended 281 Nigerian users’ personal accounts, citing the need to comply with international money laundering rules, according to its CEO. In a statement to Nigerian users dated Jan. 29, Changpeng Zhao stated that the decision to block some personal accounts was made to ensure user safety, with more than a third of the accounts impacted being restricted at the request of international law enforcement.

Mars Panda has launched a charity NFT auction. The charity NFT auction is launched to support UNHCR’s humanitarian efforts for displaced Afghans. The Mars Panda NFT charity auction will take place from January 31, 2022 to March 4, 2022. It will feature over 30 NFTs that world-renowned authors, digital and fine arts artists, NFT influencers, and professional footballers have pledged to the auction.

Charity Auction Of Nft Launched To Help Vulnerable Displaced Afghans
Charity Auction of NFT Launched to Help Vulnerable Displaced Afghans

The latest UNICEF report on mainstream adoption of digital currencies highlights the potential for greater financial inclusion as well as the need for new child safeguards. The UN Children’s Fund has called for child safeguards to be incorporated into online child protection initiatives, citing the financial and exploitative risks posed by unregulated crypto markets.

Meta, the parent company of Facebook, has joined a crypto group promoting open patents. According to an announcement, Meta, formerly known as Facebook, has joined a trade body that promotes the free use of innovative technology in the crypto sector.

01 February 2022

Bitcoin can’t be hacked by quantum computers because they’re a million times too small. Bitcoin is secured by a cryptographic algorithm, making it theoretically vulnerable to cracking by a quantum computer – but in practice, such devices are currently a million times too small to pose a threat.

Tobias Lütke, the CEO of Shopify, has been a long-time supporter of cryptocurrency. Millions of merchants use Shopify’s online shopping tools. The appointment of Lütke is expected to be finalized later this month.

Vitalik Buterin confirms the intentions of Dogecoin to shift to PoS. The proposal published last year has three main projects included. The uprising against PoW influenced various blockchain the decision to shift to PoS.

A Twitter user named larrylawliet.eth got trapped in the MoshiMochiNFT’s Discord hack. According to the user, the discord of MoshiMochiNFT was hacked. Moshi Mochi issued an announcement a few hours ago to the mint at the final round and the user clicked the mint link because it was released by the official discord account. The user mint about 40 or 50+ Moshi NFTs, and then it was hacked. The user lost more than 1000 ETH.

Sony announces its acquirement of Bungie. Sony’s share rose tremendously after this acquisition. The president and CEO of Sony, Jim Ryan, has said, “We’ve had a strong partnership with Bungie since the inception of the Destiny franchise, and I couldn’t be more thrilled to officially welcome the studio to the PlayStation family,”

30% tax would be charged on income from the transfer of virtual digital assets. Finance Minister Nirmala Sitharaman announced that the Reserve Bank of India would issue a digital rupee using Blockchain and other technologies starting 2022-23. 

El Salvador discarded IMF’s recommendation to drop Bitcoin as legal tender. Zelaya marked bitcoin as the issue of sovereignty. The authorities no longer considered cutting back the scope of its Bitcoin regulation.

El Salvador Discarded Imf'S Recommendation To Drop Bitcoin
El Salvador Discarded IMF’s Recommendation to Drop Bitcoin

The bitcoins transferred accounted for 79% of the total 119,756 bitcoins stolen from Bitfinex in 2016, making it one of the largest bitcoin breaches ever. Earlier this week, the Twitter account Whale Alert stated that criminal actors had transferred 10,000 bitcoins valued at more than $383 million to an unknown wallet during Asian hours on Tuesday.

Quadrigacx was collapsed after the founder Gerald Cotten disappeared. It was the biggest exchange in Canada at the time. Voting was conducted by the community and most of the people said to remove Patryn from the Wonderland project. After all these today, we came to know that the proposal to unwind Wonderland has failed. Sifu is officially out and has started sending ETH to Tornado.

MicroStrategy (Nasdaq: MSTR), a business intelligence software company revealed it spent nearly $25 million buying 660 bitcoins between December 30, 2021 and January 31, 2022. According to a release, the corporation paid an average price of $37,865 per bitcoin.

CBJ has revealed that it is considering issuing a digital currency. CBDC will be legal tender and will be pegged to the Jordanian dinar. According to the CBJ Governor, Jordan banned cryptocurrency trading to protect investors from fraudulent cryptocurrency investment schemes. He mentioned that China and four other Arab countries had imposed similar restrictions.

02 February 2022

SEC Proposes new Exchange Regulations for ATS. The amendment rule is to promote operational transparency. The commission also plans to impose amendments to Regulation ATS and ATSs that trade government security. This amendment aims to bring buyers and sellers of security together.

The world’s first voice NFT, Voiceverse Origins, sold out in less than 10 minutes of public sale. Further, the holders of this voice NFT can use the voices in metaverse space. The holders also have access to create a Voice NFT of their voice. The Voiceverse is completely trending on the Open sea link and waving its position in the top 10 charts.

A new payment protocol, Solana Pay, ushers in a new era of payments and commerce. Solana team contributed to the development of the foundations for a truly decentralised, open, and peer-to-peer payment protocol. The team believe that this will pave the way for a future in which digital currencies are widely used and digital money moves through the internet.

El Salvador takes AlphaPoint’s help to fix bugs in its Chivo wallet. The primary app built by Athena Bitcoin was full of glitches. Supporters say that the fixes will encourage wallet users to increase spending. 

Facebook’s ‘Diem’ project finally comes to an abrupt end. Jack Dorsey criticises this step of Meta Platforms Inc. Meta talks with investment bankers to find new opportunities for Diem members. 

The well-known streamer Ice Poseidon has managed to steal a large amount of US $500,000 from his fans. He did this by convincing them to invest in CxCoin. CxCoin is a cryptocurrency that he reportedly created solely for his pump and dump scheme. He has used the US $200,000 to pay the developers who helped him in organising the scheme.

Popular Youtuber Ice Poseidon Stole $500,000 From Fans In Crypto Scheme
Popular YouTuber Ice Poseidon Stole $500,000 from Fans in Crypto Scheme

Botswana lawmakers have agreed to regulate the Bitcoin and cryptocurrency trade. Finance Minister Peggy Serame announced plans to regulate cryptocurrency and digital token trading as part of steps to enhance anti-money laundering procedures.

Dune’s community-powered platform makes on-chain crypto data accessible and consumable.  The company provides cutting-edge tools that enable data to be extracted, queried, dissected, and visualized in real-time dashboards. 

03 February 2022

According to a press announcement issued on Liquid Group’s website the crypto giant FTX is in the process of acquiring the Japanese fintech company and all of its subsidiaries. In recent months, the exchange has been on a sponsorship binge; in March 2021, the exchange purchased the naming rights to the Miami Heat’s arena for nineteen years, renaming it the FTX Arena.

John Legend is to launch an NFT platform for musicians and entertainers attempting to navigate the digital collectables frenzy. Legend and his co-founders remained tight-lipped about the financials of their new venture. However, the musician has previously invested in Adventr, MycoWorks, Thrive Market, Rocean water pods, and Walker & Co. beauty products.

Solana’s Cross-Chain Bridge Wormhole was exploited and 120,000 ETH (about $323 million) hacked. According to our sources the attacker gets 120,000 ETH in the first place from an earlier transaction. The version of solana_program that Wormhole used didn’t verify the address being used.

The standardized format is now used in the Bitcoin SV node software, Merchant API (API), ElectrumSV and ElectrumX. This will eliminate the need to download the entire blockchain for transactions. The TSC will continue to monitor the adoption standard.

The manager of business development for Disney’s digital experiences team will be responsible for monitoring the evolving marketplace. The role will acquire knowledge and passion for the digital and NFT categories.

Sixteen Chinese governmental bodies introduced a list of countrywide blockchain pilot zones and entities. The listing has 15 pilot zones and 164 entities. Projects might be finished in diverse fields.

The IRS would refund $3,293 in income tax (plus statutory interest) to a Nashville couple who had paid the amount on 8,876 Tezos tokens obtained through staking. According to the civil lawsuit filed by Joshua and Jessica Jerrett, they requested a refund of $3,293 in income tax paid in 2019 in exchange for receiving 8,876 Tezos tokens. 

In Pune, a cop ‘kidnaps’ a cryptocurrency trader, who is being held with six other people from Mumbai. Constable Dilip Khandare formerly served in the cybercrime unit, where he acquired advanced training in cybercrime investigation and mobile forensics.

According to the assessment, Russians control $215 billion in crypto assets, accounting for 12% of the world market’s total value. The Russian government expects that regulating Bitcoin and cryptocurrency will bring in $2 billion a year.

Nway, a games developer, has released a non-fungible token (NFT) party game based on Beijing’s upcoming Winter Olympic Games. The launch came just hours after the International Olympic Committee and game developer nWay announced their collaboration.

India’s Prime Minister, Narendra Modi, expressed his support for central bank digital currencies (CBDCs). He believes they will help the economy in the next few years. The e-rupee, according to Prime Minister Narendra Modi, will modernize India’s fintech network and improve the economy.

The Cbdc To Improve The Country'S Digital Economy: Pm Modi
The CBDC to Improve the Country’s Digital Economy: Pm Modi

04 February 2022

Tezos to Sponsor Manchester United’s new £20 Million-per-Year Training kit. The deal is also thought to include collaboration beyond United’s training kit, which would aid the company’s efforts to maximize opportunities in the technology space, such as the metaverse and “web 3.0.”

The US Bipartisan Bill will exempt tax on gains of $200 or less. It aims at revising the Internal Revenue Code of 1986. Schweikert says that this bill is a significant step forward and lays the foundation for the growth of the digital economy

The Russian central bank announced on Thursday that a local subsidiary of Swiss-based blockchain platform Atomyze has been granted a license to issue and exchange digital financial assets, making it the first company in Russia to do so legally.

The auction would be only for GensoKishi’s ‘Cosplay’ NFTs. The wallet addresses used for bidding purposes would be released to the public once the auction begins. Bidding will be closed once the auction ends.
Hackers stole 120k ETH from Wormhole, taking advantage of a bug in the network. Jump Trading quickly replaces the stolen money. Womhole has offered the hacker a $10 million bounty.

Wormhole Hacked: The Solana'S Cross-Chain Bridge Lost 120,000 Or $323 Million
Wormhole Hacked: The Solana’s Cross-Chain Bridge Lost 120,000 or $323 Million
Editorial Team
Editorial Team

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