Monthly Archives: December 2021

$2.2M Worth of Bored Ape Yacht Club NFTs Stolen — Victim Says Incident Was ‘Arguably the Worst Night’ of His Life

According to reports, roughly $2.2 million worth of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) non-fungible tokens (NFTs) were stolen from a collector. The owner of the NFTs Todd Kramer said the incident was “arguably the worst night” of his life. Furthermore, there’s claims that the NFT marketplace Opensea froze the collectibles, and crypto advocates are complaining about the lack of decentralization. 15 BAYC and MAYC NFTs Stolen — Victim Begs Opensea for Help, Reports Claim NFTs Were ‘Frozen’ On December 30, 2021, […]

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Airdrop culture could pose integral threat to DeFi industry

The sobering fallout of rug-pulled YEAR token has provided an acrimonious ending to a commendable 12 months of growth for decentralized finance. EtherWrapped, a project designed to provide a yearly summary of users nonfungible token (NFT) activity, launched a little over eight hours ago to palpable fanfare within the crypto community. The website detailed a plan to airdrop YEAR tokens based upon quantitative engagement statistics in users’ MetaMask wallet, or in simpler terms, their number of transactions, volume traded, a gas fees, among other data. Upon verification on […]

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Price analysis 12/31: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE

Bitcoin and most major altcoins are attempting a recovery from their strong support levels, indicating that traders continue to buy on dips. Bitcoin (BTC) and most major altcoins are attempting a rebound off their respective support levels, indicating that buyers continue to accumulate on dips. Data from Coinglass shows that 9,925 Bitcoin left Coinbase Pro, the professional trading arm of Coinbase, on Dec. 30, a possible sign of institutional buying. This is in sharp contrast to the strong inflows seen in Binance and OKEx. Several analysts believe […]

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Bitcoin holds $48K as final Wall Street session caps 60% YTD gains for BTC

There’s plenty to celebrate in “up only” Bitcoin beyond short timeframes, analysts conclude on the last day of the year. Bitcoin (BTC) chipped away at its latest gains on Dec. 31 as the final trading session of 2021 opened on Wall St. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin posts 60% year-to-date gains Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it meandered around the $48,000 mark, having reached multi-day highs of $48,550 hours earlier. The uptick had coincided with the December expiry on Bitcoin […]

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Going meta: Paris Hilton, Times Square, and ETFs

Decentraland and Paris Hilton plan competing virtual New Year’s Eve celebrations, while ProShares plans to launch an ETF tracking the performance of metaverse-focused firms. Following the announcement that Facebook’s parent company would be rebranding in a shift towards the Metaverse, many projects have started similar initiatives entering the virtual space, from buying property to testing the limits of what this universe has to offer.  Virtual ball drop on NYE The Ethereum-based virtual reality world Decentraland announced on Wednesday that a New Year’s Eve celebration would be taking […]

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Will US regulators shake stablecoins into high-tech banks?

U.S. stablecoin issuers might soon face liquidity, customer protection and asset reserve rules — and maybe even a deposit-insurance mandate like banks. Regulators around the world have been thinking seriously about the risks associated with stablecoins since 2019 but recently, concerns have intensified, particularly in the United States.  In November, the United States’ President’s Working Group on Financial Markets, or PWG, issued a key report, raising questions about possible “stablecoin runs” as well as “payment system risk.” The U.S Senate followed up in December with hearings on […]

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100 NFT Collections Surpass $20 Billion in Volume — Cryptopunks, Bored Apes Capture Top Volumes

Non-fungible token (NFT) assets were extremely popular this year and to date, there’s been more than $20 billion in volume recorded in terms of NFT sales among 100 collections. While many single NFTs sold for millions of dollars a number of NFT projects and collections saw hundreds of millions and even billions in all-time volume. According to defillama.com metrics, the popular NFT collection Cryptopunks captured $2.98 billion in all-time volume. 100 NFT Collections, 6 Chains, $20 Billion in Volume Numerous NFT collections have been very prominent in […]

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Centralized systems are here to stay, says Binance CEO CZ

Binance CEO CZ debates Ponzi schemes, DeFi and how Binance chooses coins for listing in a New Year video. In a tongue-in-cheek hot seat video to round off 2021, Binance CEO Changpeng Zhao, or “CZ,” responded to a series of curated Tweets from the Binance community. The Chinese-Canadian business executive’s standout message was that centralized exchanges such as Binance would remain relevant in 2022 and beyond. Riposting to a loaded tweet about centralized finance’s dark side as well as the future of decentralized finance, CZ said, “Today, […]

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Donated or Inherited Virtual Assets to Be Taxed by South Korea’s NTS

Starting in the year 2022, donated or inherited virtual assets will be assessed and taxed accordingly, South Korea’s National Tax Service has said. Dunamu, Bithumb Korea, Korbit, and Coinone are the new virtual asset service providers (VASPs) tasked with evaluating digital assets for such tax purposes. Virtual Asset Service Providers Tasked With Evaluating Crypto Gifts South Korea’s National Tax Service (NTS) recently announced that starting in 2022, digital assets that are inherited or donated will be taxed, a report has said. It added that such digital assets […]

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Valereum acquires Gibraltar-based Juno to expand on crypto-fiat bridge

The agreement is an essential step toward creating a fully regulated link between the fiat and crypto worlds, said Valereum. Gibraltar-based tech group Valereum Blockchain announced the acquisition of Juno Group, a company that aids in the establishment and administration of trusts, money management and enterprise creation in Gibraltar. Juno is a company that Valereum describes as having three areas of licensed operation: the management of trusts and similar entities, the administration of cash for a range of activities, including both fiat and cryptocurrency transactions, and the incorporation and […]

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