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 Investment / Ftx’s Token Drops Sharply Due To Binance Sales by altcoinng: 9:21am On Nov 08, 2022 |
The price of FTX’s token, FTT, has dropped sharply over the past hour. According to data tracked by CoinGecko, the price of the token dropped 19%, from about $22 to $18. The news comes as FTX and Binance, two of the biggest cryptocurrency exchanges, are in a public fight. In a tweet on November 6, Binance CEO Changpeng Zhao said that the exchange would start selling its FTT holdings because of “recent revelations.” This seems to be a reference to a report from CoinDesk that showed details of Alameda Research’s balance sheet. Sam Bankman-Fried of FTX owns Alameda, a company that trades in cryptocurrencies. Sam Bankman-Fried, the CEO of FTX, tried to calm the market down after Zhao’s tweets. He said yesterday that the exchange is “fine” and asked FTX and Binance to work together for the good of the industry. Caroline Ellison, the CEO of Alameda, had made an offer to buy Binance’s FTT holdings for $22 per token. In a note released on November 7, market maker B2C2 said that the price of Solana and FTT could become the most important indicators of the direction of the cryptocurrency market this week. Traders on the market are worried that a drop in the price of FTT could hurt Alameda, which has billions of dollars worth of the token on its balance sheet. A drop like this could affect the exchange it is tied to, FTX. The company has already had trouble with withdrawals. In a recent tweet, however, FTX said that the withdrawals queue “is decreasing and getting back to more reasonable levels; nodes and banks are catching up.” https://altcoin.ng/ftxs-token-drops-sharply-due-to-binance-incident/ 1 Like |
| Crime / $3.36 Billion Worth Of Bitcoin Seized By The FBI by altcoinng: 9:13am On Nov 08, 2022 |
On Monday, the U.S. Department of Justice said that in 2021, it had found stolen Bitcoin worth $3.36 billion that had been taken from a Georgia real estate developer named James Zhong. Zhong was caught in a raid on his home in Gainesville, Georgia, in 2021. Last Friday, he pleaded guilty to one count of wire fraud for stealing about $50,000 worth of Bitcoin from the Silk Road marketplace. According to a press release from the Department of Justice, Zhong stole the Bitcoin in September 2012 by making nine fake accounts on the marketplace. Each account had between 200 and 2,000 Bitcoin. Then, he allegedly tricked the marketplace’s system for handling withdrawals to get 50,000 Bitcoin by quickly starting 140 transactions. Silk Road was started in 2011 as a forum on the dark web where drugs and other illegal goods, as well as cryptocurrency, could be bought and sold. In 2013, the FBI shut it down. In his LinkedIn profile, Zhong said that he was a “large early Bitcoin investor who knows a lot about how it works on the inside” and that he is an experienced computer programmer. https://altcoin.ng/3-36-billion-worth-of-bitcoin-seized-by-the-fbi/ |
| Webmasters / Re: Facebook To Announce Large-scale Job Cuts by altcoinng: 1:27pm On Nov 07, 2022 |
PrinceOfLagos: most tech companies are downsizing at the moment 13 Likes 1 Share |
| Webmasters / Facebook To Announce Large-scale Job Cuts by altcoinng: 1:23pm On Nov 07, 2022 |
Facebook's parent company Meta is reportedly planning to begin large-scale lay-offs this week that will affect thousands of employees.https://www.bbc.com/news/technology-63541591 https://altcoin.ng/facebook-to-announce-large-scale-job-cut-next-week/ 2 Likes 1 Share |
| Crime / Scammers Lure People With Free ETH And Rolex Watches. by altcoinng: 1:09pm On Nov 07, 2022 |
The leaders of a South Korean crypto fraud ring that promised victims Rolex watches and free Ethereum (ETH) have been sent to prison. Money Today said that three people were given jail time at a branch of the Criminal Division of the Seoul Central District Court for fraud. The court heard that the three of them set up a fake cryptocurrency exchange and tricked people into giving them more than $61,000. For legal reasons, the people who planned the operation were called “A,” “B,” and “C,” and they were said to be in their 30s. A set up a fake exchange with B, the court heard, and then hired C as a “planning manager.” C was then given the job of making a public group chat room by pretending to be a normal person who was interested in crypto trading. C then said nice things about the fake exchange without saying that they worked for it. They did this to try to get investors to visit the fake exchange’s website. C said that the exchange had put out a number of low-profile coins with a lot of growth potential. The three also planned a “fake” promotional “event.” They told investors that if they bought coins at pre-sale events, they would be entered into a prize draw where they could win “Rolex watches and ETH tokens.” At least six people who wanted to invest gave the group a total of over $61,000 because of what they said. During sentencing, the judge said that the defendants “systematically lied” to their victims and “cheated them out of money.” The news organization said that A, B, and C all appealed the verdict. South Korea is seeing a rise in crypto-related fraud, and group chats seem to be the new tool of choice. Police said last week that they had caught the people in charge of a $472,000 crypto fraud ring that used KakaoTalk’s group chat feature to send people to a scam platform. People said that the victims ranged from “crypto-curious beginners” to “housewives.” https://altcoin.ng/scammers-lure-people-free-eth-and-rolex-watches/ |
| Investment / Dogecoin Price Crash As Twitter Is Sued For Laying Off Workers by altcoinng: 9:04am On Nov 04, 2022 |
Twitter is being sued for laying off a lot of people. The lawsuit against Twitter could cause Dogecoin to drop even more, even though its market structure hasn’t yet turned bearish. The weekly candle, which opened at $0.117, is still green. The class action lawsuit is about Elon Musk’s plan to fire about 3,700 workers, which is about half of the company’s staff. Twitter will start laying off people today, the company told employees in an email. People who know about the situation say that Musk plans to fire half of the people who work at the platform he bought for $44 billion last month. This is part of his plan to cut costs and save money. The Worker Adjustment and Retraining Notification Act says that big companies can’t lay off a lot of people without giving at least 60 days’ notice. Workers say that Twitter Inc. is not giving them enough notice, which is against federal and California law. https://altcoin.ng/dogecoin-price-crash-as-twitter-is-sued-for-laying-off-workers/ |
| Investment / SEC Files Motion To Delay Case Against Ripple by altcoinng: 8:48am On Nov 04, 2022 |
In its legal battle with the U.S. Securities and Exchange Commission (SEC), Ripple Labs is getting more and more help from people. Judge Analisa Torres has received an amicus letter from Veri DAO LLC. This is the 12th amicus letter that has been sent to the court since yesterday. This seems to have made the U.S. Securities and Exchange Commission feel more and more under pressure. A document that was filed a few hours ago shows that the regulator has asked for all deadlines to be moved back. Ripple has already agreed to the new schedule, so the Judge is the only one left to give her OK. Ripple CEO Brad Garlinghouse tweeted in response to the crypto industry’s overwhelming support: If you are keeping track, there were 12 (!) amici briefs sent in. I’ve been told that this has never happened at this point before. They all explain, in their own way, how the SEC will hurt the US crypto economy in ways that can’t be fixed if it gets its way. Ripple’s general counsel, Stuart Alderoty, added: Twelve different people, including companies, developers, exchanges, public interest and trade associations, and retail holders, all filed in SEC v. Ripple to show how wrong the SEC is in a dangerous way. How did the SEC respond? We need more time, not to listen or talk, but to keep moving forward without thinking. In the letter to the court, the SEC asks the court to change the deadlines for filing reply briefs to the parties’ motions for summary judgment and to seal the summary judgment papers. Due to the pending amicus briefs, the SEC wants to change the date for the parties to file their sealed reply briefs for summary judgment from November 15 to November 30. The briefing to decide on redactions in reply briefs will be held on December 2 instead of November 17. In the same way, the deadline for public redacted reply briefs will be moved from November 21 to December 5. Also, the date of December 22 has been set as the last day to file collective motions to seal all proposed redactions for all summary judgment material. From December 22 to January 9, people can speak out against omnibus motions. The SEC is also asking that all additional amicus briefs be submitted by November 11, 2022. Ripple’s list of supporters now includes Coinbase, I-Remit, the Chamber of Digital Commerce, the Crypto Council for Innovation, Valhil Capital, the Blockchain Association, Spend The Bits, Tapjets, the Investor Choice Advocates Network (ICAN), John Deaton on behalf of more than 75,000 XRP investors, Cryptillian Payment Systems, and Veri DAO LL https://altcoin.ng/sec-files-motion-to-delay-case-against-ripple/ |
| Investment / OKX Plans To Hire 100 People, After Getting A Bahamas License by altcoinng: 4:30pm On Nov 03, 2022 |
OKX, the world’s second-largest crypto-only exchange by trading volume, has gotten a digital asset license in The Bahamas, where it plans to hire up to 100 people over the next 12 months. In an interview, Jillian Bethel, the CEO of OKX’s Bahamian unit, said that the exchange operator based in Seychelles will use the newly licensed entity to bring on customers, starting with customers from Mexico. “We’ve been working in an area that isn’t regulated, but clients trust us because of what we’ve done in the past,” Bethel said. She also said that OKX wants to work in a regulated space and will eventually bring existing clients into that space. The Caribbean country has tried to become a hub for digital asset firms in the area. It passed the Digital Assets and Registered Exchanges Bill in 2020, which set up a licensing system for businesses that deal with cryptocurrencies. That gave exchanges and other crypto service providers the chance to get an accreditation that sets certain minimum standards and can be used in sales pitches to clients. Countries all over the world are having discussions about how flexible their crypto rules should be. Some, like Malta and Dubai, have made it clear that they are open to crypto. Bethel says that OKX will be able to sell almost all of its products in The Bahamas with its new license. OKX liked The Bahamas because business and government circles were small there. “It is easier for the regulator, the government, and the industry to all agree on what is happening and what needs to be regulated,” said Bethel. https://altcoin.ng/okx-plans-to-hire-100-people-after-getting-a-bahamas-license/ |
| Crime / Hacker Steals $3M From Skyward Finance by altcoinng: 10:57am On Nov 03, 2022 |
Skyward Finance was a launchpad project on Near Protocol. An unknown hacker took $3 million from it. The Skyward Finance team wrote about the exploit on Twitter In this hack, the hacker used a loop to buy back more than 1.1 million wrapped Near tokens from Skyward’s treasury contract for $3 million. The contract was available to everyone, and anyone who wanted to exchange Skyward Finance tokens for wrapped Near tokens could use it. In a statement to The Block, BlockSec said it had found a bug in the contract’s token-redemption function that didn’t check for duplicate token account IDs. This happened as the number of crypto hacks keeps going up. In just the last month, 44 exploits caused losses of more than $650 million. https://altcoin.ng/hacker-steals-3-million-from-skyward-finance/ |
| Investment / Altcoins Prices Fall As FED Plans To Raise Interest Rate by altcoinng: 1:50pm On Nov 02, 2022 |
The crypto markets are getting ready for the latest interest rate decision from the Federal Reserve. CoinGecko data shows that Bitcoin was trading at $20,412. This is a drop of about 0.7% in the last 24 hours. At the same time, ether fell 2.8% to $1,549. Altcoins were also down, and some of them more than the top two. Binance’s BNB lost 1.6%, and Solana’s SOL and Polygon’s MATIC both lost more than 5%. Also, Cardano’s ADA fell by 4.1%. Dogecoin also gave up some of the gains it had made and now trades at a 9% loss. All eyes are on the decision that the U.S. Federal Reserve will make about interest rates later today. Most people agree that the rate will go up by 75 basis points. Speculators, on the other hand, are keeping a close eye out for any signs of a possible change of direction before the end of the year. Mauricio Di Bartolomeo of Ledn says that any sign from the Fed that it wants to keep being aggressive could cause markets to drop. “If the Fed says it will be more “data dependent” going into December, the markets could take that as a sign that there is a higher chance of a smaller hike in December, which could cause people to bid up the markets,” they said. In its weekly update, QCP Capital said that the fact that market expectations are shifting toward a “bearish” outcome is cause for concern. It says, “We worry that the market will react badly to the Fed’s continued hawkishness.” The CME’s FedWatch tool shows that the chances of the Federal Open Market Committee raising rates by either 75 or 50 basis points at their meeting on Dec. 14 are about the same. Aside from that, the relationship between bitcoin and stocks has started to get stronger before today’s interest rate decision. In the past few weeks, there has been less of a link between cryptocurrencies and stocks. In a week, the U.S. will report on inflation. QCP Capital thinks that between today’s decision and this data point a week from now, there will be more volatility. In the meantime, Robinhood will report earnings tonight after the market closes. After a bad second quarter, during which the app for retail investors cut costs, investors will be looking for signs of improvement. https://altcoin.ng/altcoins-prices-fall-as-fed-plans-to-raise-interest-rate/ |
| Investment / Over 1,000 Doge-made Millionaires After Dogecoin Price Pumped by altcoinng: 3:02pm On Nov 01, 2022 |
Dogecoin, a meme-based cryptocurrency, became very popular last year and a lot of small investors became millionaires because of it. But by the middle of 2022, the number had dropped below 1,000 because Dogecoin was going down and the crypto market as a whole was falling apart. We found that there were 1,046 Dogecoin millionaires as of November 1. This was the first time since April 2022 that the number was above 1,000. Notably, on November 1, the price of DOGE hit $0.15 for the first time since April. The site that keeps track of cryptocurrency data says that 880 DOGE holders have more than $1 million in their accounts. on BitInfoCharts.com, the total balance with at least $10 million or more is 159 addresses We also found out that on September 11, there were 590 millionaires by using a program that saves online content. This means that the number has almost doubled in less than two months, which is a 77.55% rise. It’s interesting to note that Dogecoin and its price were going down until Elon Musk went back on his word and said he will buy Twitter. The wealth of DOGE holders grew, but data shows that over 70% of Bitcoin millionaires lost all of their money over the course of three quarters in 2022. https://altcoin.ng/over-1000-doge-made-millionaires-after-dogecoin-price-pumped/ 1 Like
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| Investment / Elon Musk Sends DOGE To The Moon Again by altcoinng: 1:02pm On Nov 01, 2022 |
The Dogecoin meme token (DOGE) is getting pumped again. And once again, the billionaire and new Twitter owner Elon Musk is helping him do it. Dogecoin price rose to $0.15 for the first time since April 2022. The token price jumped by 29% in one day. Dogecoin capitalization approached the level of $20 billion. During the week the growth was more than 159%. The reason is that Musk not only bought Twitter but also posted a Halloween picture yesterday. It shows a devil’s pumpkins with a bird (Twitter logo) carved on it and a dog in a T-shirt with a bird, symbolizing DOGE. Apparently, Musk thus hinted that he will make all cryptans’ nightmare come true and start accepting meme-tokens on Twitter. Or he just decided once again to help his beloved Dogecoin. The Dogecoin meme token was created in 2013, it’s actually one of the oldest coins on the cryptocurrency market. The token’s listing on exchanges such as Binance and OKEx has strengthened its position, creating more stable trading flows and interest in coin accumulation. Representatives of the exchanges note its convenience, low transaction fees and reliability. In mid-January, Elon Musk announced that the electric car maker’s merch could be bought for dog tokens. That said, meme-token creator Billy Marcus reacted instantly to Musk’s announcement, calling on the Dogecoin community to take action. “Alright Dogecoin community, you know what to do,” he tweeted. Since the Ethereum merger, the meme token Dogecoin (DOGE) has become the second most capitalized cryptocurrency on the Proof-of-work (PoW) algorithm. Dogecoin is now second only to bitcoin. Despite the new records, the coin is still worth 80.1% less than the record high of $0.731578 recorded in May 2021. https://altcoin.ng/elon-musk-sends-doge-to-the-moon-again/ |
| Foreign Affairs / China And Russia To Create A New Gold-backed Currency by altcoinng: 2:14pm On Oct 31, 2022 |
Fox Business experts believe that Russia and China will create a new currency backed by gold since China has been buying huge amounts of gold and Russia was forced to abandon the U.S. dollar due to sanctions. Craig Singleton, a senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat, explained that for two decades, Chinese leaders have talked about reforming the global financial system and weakening the dominance of the U.S. dollar. Two components of that strategy center around a global commodity trading system based on the yuan and China’s efforts in partnership with Russia and other like-minded countries to challenge the dollar’s dominance by creating a new reserve currency. In essence, Beijing and Moscow are seeking to build their own sphere of influence and monetary unit within that sphere, effectively protecting themselves from the threat of U.S. sanctions. Swiss gold exports to China in July rose to their highest level since December 2016: during the month, Switzerland sent 80.1 tons of gold worth 4.4 billion Swiss francs ($4.4 billion) to mainland China, according to customs data. Data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global financial messaging firm, showed that 42.6% of global payments in August were in U.S. dollars, 34% in euros and 2.3% in Chinese yuan. Ming-Hua Chiang, an economist at the Heritage Foundation’s Center for Asian Studies, emphasized that the yuan “lags behind the US dollar and the euro,” because the euro, for example, requires “a level of political and economic coordination and integration that does not exist in Asia today. During the BRICS summit in July, Russian President Vladimir Putin announced that the BRICS countries (Russia, China, India, Brazil and South Africa) were planning to issue a “new global reserve currency. Analysts believe the move is an attempt to undermine the dominance of the U.S. dollar and the International Monetary Fund’s special drawing rights. https://altcoin.ng/china-and-russia-to-create-a-new-gold-backed-currency/ 1 Like |
| Business / Nigeria Leads In The Adoption Of Crypto In Africa by altcoinng: 1:27pm On Oct 31, 2022 |
According to DappRadar’s traffic analytics, in the third quarter of 2022, Nigeria ranks seventh in the adoption of crypto worldwide making it the leader in the adoption of crypto in Africa. The United States continues to be the top crypto market, with traffic remaining flat since July. India has maintained its second-place position, increasing by 10.40% from July to September. Indonesia, like India, has risen in the ranks, rising from fifth to third place between July and September. Its traffic has increased by 115.59% since July. The volume of traffic from Russia increased by 88.28% in September, while the country fell from second to fourth place. Ukraine climbed the rankings this month, reaching fifth position with a 143.7% rise in traffic from July, following the same pattern as Indonesia. The United Kingdom has dropped to sixth place and has traffic has been declining in recent months. In September, it fell by 6.40% compared to July. The most significant drop in traffic came from Vietnam, which has suffered a 49.30% drop despite maintaining its ranking. The Philippines fell by 9.78% from July to August, while Nigeria increased by 12.52%. Germany has risen to ninth place in the rankings since July, despite a 3.38% loss. Finally, Brazil surged to tenth place, up 16.60% from July. https://altcoin.ng/nigeria-leads-in-the-adoption-of-crypto-in-africa/
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| Investment / Polkadex Network Launches Beta Testing Of Polkadex Orderbook by altcoinng: 12:36pm On Oct 31, 2022 |
One year after the launch of Polkadex network, the project team announced the launch of a decentralized order book (DEX) trading platform for digital assets. According to the Polkadex project team, DEXs such as Uniswap have changed the principles of crypto-asset trading over the past few years and provided traders with control over funds. However, the automated market maker (AMM) model popularized by such DEXs suffers from exorbitant transaction fees, low compatibility and limited functionality. Therefore, many crypto-traders traditionally prefer to use advanced trading functions of centralized exchanges (CEX). Which are not only cheaper to use, but also offer a high level of functionality and compatibility. Although it seems riskier because of the risk of hacking and data leakage. Polkadex CEO and co-founder Gautham J tweeted about the benefits of Polkadex Orderbook, “For the first time the exchange orderbook will be directly linked to two leading ecosystems, Etherium and Polkadot. The project will evolve as a DEX crosschain, connected to all leading ecosystems and receiving its own liquidity from BTC, XRP, MATIC and similar crypto-assets.” Gautham noted that while Polkadex Orderbook may look and function like a centralized exchange (CEX), the site remains unconnected to storage and will retain the security aspects of DEX. Right now, Polkadex Orderbook will only support one trading pair, PDEX/USDT, with USDT connected to Etherium via ChainBridge. In the future, Polkadex will replace ChainBridge with its own decentralized bridge mechanism, THEA, which will allow deposits and withdrawals from Etherium to Polkadex and vice versa. The head of the company announced the start of open beta testing, telling that Polkadex Orderbook will work with less liquidity for a while. This is a necessary security measure at the stage of debugging. Also, the project team announced the launch of a financial rewards program for testers, who found errors. https://altcoin.ng/polkadex-network-launches-beta-testing-of-polkadex-orderbook/ |
| Investment / Dogecoin Grew By More Than 150% by altcoinng: 11:56am On Oct 31, 2022 |
During the week, Dogecoin price increased by 94% (Coingecko data), at the moment the growth is more than 150%. The meme coin soared on the news about the purchase of Twitter by Elon Musk. The coin started to grow on October 26 when Musk added the caption “Chief Twit” to the description of his Twitter account. There was also a video of Musk walking into the company’s headquarters with a sink in his hands. It is known that Elon Musk actively supports Dogecoin and claims that the coin, which was created for the sake of a joke, could become a full-fledged cryptocurrency. Musk plans to integrate DOGE as a means of payment on Twitter. Dogecoin is also already being used to pay for Tesla merch and payment in the Vegas Loop underground tunnel transportation system. As of this writing, the coin is trading around $0.1225, but since the only driver of DOGE growth is Elon Musk, the coin will soon correct and return to a fairer price. https://altcoin.ng/dogecoin-grew-by-more-than-150/ |
| Business / Twitter Will Add The Ability To Buy And Sell Nfts Through Tweets by altcoinng: 12:45pm On Oct 28, 2022 |
Twitter said it will add a new feature that allows users to buy, sell and display NFTs directly through tweets. The company has partnered with four NFT trading platforms to do so. The new feature is called NFT Tweet Tiles – it will display an NFT image on a special panel in a tweet, which, when clicked, will take the user to the item’s page on the trading platform. Twitter has partnered with platforms like NFT Rarible, Solana-based Magic Eden platform, Flow Dapper Labs and sports-focused Jump.trade. Overall, all of these platforms span multiple blockchain networks: Etherium, Polygon, Solana, Tezos, Flow and Immutable X. NFT Tweet Tiles will not be strictly tied to these blockchains, so if an NFT from an affiliate site is attached to a tweet, it will be displayed as well. That said, a premium Twitter Blue subscription is not required to use the feature.Right now, NFT Tweet Tiles is being tested by users on iOS and the desktop version. Earlier Reuters news agency published the results of Twitter internal research, according to which English-speaking users are mostly attracted by topics of cryptocurrencies and content for adults. https://altcoin.ng/twitter-will-add-the-ability-to-buy-and-sell-nfts-through-tweets/ |
| Investment / Re: Altcoinng Archive and News Links by altcoinng: 12:44pm On Oct 28, 2022 |
Twitter will add the ability to buy and sell NFTs through tweets https://altcoin.ng/twitter-will-add-the-ability-to-buy-and-sell-nfts-through-tweets/ BNB Chain leads in cryptocurrency fraud https://altcoin.ng/bnb-chain-leads-in-cryptocurrency-fraud/ Dogecoin grew by more than 150% https://altcoin.ng/dogecoin-grew-by-more-than-150/ Nigeria leads in the adoption of Crypto in Africa https://altcoin.ng/nigeria-leads-in-the-adoption-of-crypto-in-africa/ Over 1,000 DOGE-made millionaires after Dogecoin price pumped https://altcoin.ng/over-1000-doge-made-millionaires-after-dogecoin-price-pumped/ |
| Crime / Phishing Scammer Steals $1m Worth Of Crypto by altcoinng: 2:35pm On Oct 26, 2022 |
Blockchain security specialist ZachXBT reported that a hacker nicknamed Monkey Drainer stole a total of $3.5 million in digital assets. According to cryptocurrency analyst ZachXBT, the criminal stole about 700 ethers in the last 24 hours alone. His two biggest victims, users 0x02a and 0x626, lost a total of $370,000 after signing transactions on phishing sites used to lure victims. 0x02a lost one NFT from the Bored Ape Collection (BAYC), one CloneX, $36,000, and 12 other NFT tokens totaling about $150,000. User 0x626, which owns about $6.2 million worth of cryptocurrency, lost $220,000. The remaining transactions were rejected. ZachXBT added that the total amount of assets stolen by the attacker exceeds $3.5 million and is growing day by day. He urged users to be as vigilant as possible when dealing with cryptocurrencies: “Please be especially careful before visiting unknown sites, connecting your wallet and signing transactions.” Last week, French law enforcement authorities used research by a cryptocurrency analyst under the pseudonym ZachXBT to arrest five suspects of NFT fraud. https://altcoin.ng/phishing-scammer-steals-1m-worth-of-crypto/ |
| Business / Elon Musk To Buy Twitter On October 28 by altcoinng: 2:15pm On Oct 26, 2022 |
Tesla CEO Elon Musk is about to close a deal and finally buy Twitter. This was reported by Bloomberg, citing sources. The question, as always, was money, but now the banks that provide debt financing seem to have finalized the final loan agreement. They are in the process of signing documents – this is the last step before the actual transfer of money to Musk, the sources specified. Musk should receive $13 billion. Another $500 million will be given to Musk by his longtime friend and part-time CEO of Binance, Changpen Zhao. So, in all likelihood, Elon Musk will still comply with the court’s demands and buy Twitter before the deadline set by the judge. Twitter will be bought for $44 billion. Musk has been on the nerves of Twitter for the past six months – at the end of April, he signed an agreement to buy Twitter, but a month later he suspended the deal to check the company’s data on bots. It turned out that the number of fake accounts on Twitter was at least 20% of the total number of registered users (according to Musk and those who checked) In early July, Elon Musk terminated a $44 billion deal because the company had allegedly defaulted and violated the merger agreement. So Twitter decided to force the businessman to buy through the courts. In early October, Musk did change his mind and seemed to agree to buy the social network, so the court postponed the hearing on the case until the end of October to allow the deal to be completed. https://altcoin.ng/elon-musk-to-buy-twitter-on-october-28/ |
| Investment / Twitter Is Developing Its Own Crypto Wallet by altcoinng: 9:42am On Oct 25, 2022 |
Twitter is preparing a prototype wallet for storing crypto, which supports deposit and withdrawal. A crypto wallet from the social network Twitter is in development, Bitcoinist writes, citing a message from software developer Jane Manchun Wong. “Twitter is working on a ‘prototype wallet’ that supports cryptocurrency deposit and withdrawal,” Wong wrote. There is currently no official confirmation from Twitter. At the same time, there are no other details about the social network’s possible developments. In June, billionaire Elon Musk argued for greater integration of payments on Twitter, including crypto payments. Musk spoke about this at a meeting with the company’s employees. In April, he entered into an agreement to acquire the social network. In early October, the billionaire returned to the deal. Currently, Twitter supports cryptocurrency donations in Ethereum and bitcoin and allows you to put NFT on your profile photo. Late last year, the social network announced a team to work on crypto, blockchain, and decentralized applications. https://altcoin.ng/twitter-is-developing-its-own-crypto-wallet/ |
| Investment / Yellow Card Receives License To Operate In Botswana by altcoinng: 5:48pm On Oct 24, 2022 |
Yellow Card has received a Virtual Asset Service Provider (VASP) license from Non-Bank Financial Institutions Regulatory Authority NBFIRA. This was announced in a press release. CEO and co-founder Chris Maurice said this opens up great opportunities for expansion. Among cryptocurrency platforms, he said, Yellow Card was the first in Africa to receive a VASP license. According to the report, the exchange complies with global AML/KYC requirements, sanctions and the so-called Financial Action Task Force (FATF) rule. In September 2021, Yellow Card closed a $15 million Series A round led by Valar Ventures, Third Prime and Castle Island Ventures, with participation from Jack Dorsey’s Square and Coinbase Ventures. A year later, the exchange raised $40 million from Polychain Capital. Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures and other investors also provided funds. https://altcoin.ng/yellow-card-receives-license-to-operate-in-botswana/ |
| Crime / Mango Markets Hacker Rug Pull Mango Inu Meme Token For $100k by altcoinng: 12:27pm On Oct 24, 2022 |
One of the hackers of the Solana-based DeFi platform Mango Markets boasted that he made $100,000 in half an hour by launching a meme token called Mango Inu. On Oct. 12, unidentified people took about $116 million in digital assets out of the protocol by manipulating price oracles. On October 15, user Avraham Eisenberg admitted to being part of the group that implemented the exploit. He did not think there was anything illegal about what they were doing. However, as the platform became insolvent due to the loss of funds, Eisenberg negotiated a settlement agreement with the return of a portion of the assets. The Mango Markets community supported the agreement, under which the hackers returned $69 million, keeping $47 million as a reward. The platform’s team has proposed a compensation plan for affected users. On Oct. 23, Eisenberg said he launched “a shitcoin called Mango Inu and did absolutely nothing to promote it.” Bots bought more than $250,000 worth of tokens in just half an hour. According to him, only $100,000 was made because Eisenberg himself “forgot to use flashbots.” He again called his operation “perfectly legal,” which some commentators disagreed with. “What part of is illegal? Mango Inu is definitely not security (no marketing, etc.), no promises were made, just open market transactions with liquidity,” Eisenberg parried. In his opinion, “exploiting bots is the right thing to do. https://altcoin.ng/mango-markets-hacker-rugged-pull-mango-inu-meme-token-for-100k/ |
| Business / UAE Offers Blockchain Companies Funding And Residency by altcoinng: 11:56am On Oct 24, 2022 |
The UAE government plans to attract technology companies through “golden visas” and a 10-year residency permit allowing expatriates to live in the country. The United Arab Emirates (UAE) has announced its intention to create the most favorable conditions in the country for the incorporation of technology companies from Asia and Europe. This includes offering quick business licensing and providing employees with attractive housing options. “Since the beginning of the year, we’ve noticed that many companies would like to move to the UAE because of inflation and a tightening regulatory environment in many parts of the world, including Asia, especially Singapore and Hong Kong,” said Foreign Trade Minister Thani Al Zeyoudi Now the UAE administration has requests from 300 blockchain companies under consideration. Thani Al Zeyoudi noted that nearly 40 companies are in the advanced stages of a possible move. He said the government plans to reach the desired goal within the next two years. Digital asset service providers and popular crypto exchanges are actively using the benign regulatory environment to license their operations in the UAE. For example, Binance and Crypto.com have established a presence in the MENA region. According to a recent Coincub report, Germany was the most favorable country for crypto business in Q3 of this year. Meanwhile, the U.S., which ranked first last quarter, dropped six spots down. https://altcoin.ng/uae-offers-blockchain-companies-funding-and-residency/ |
| Crime / Interpol Launches First Police Metaverse by altcoinng: 12:25pm On Oct 21, 2022 |
The International Criminal Police Organization (Interpol) has unveiled the first metaverse specifically designed for law enforcement agencies around the world, according to an article on the organization’s website. Users of INTERPOL Metaverse will be able to take a virtual tour of Interpol’s headquarters in Lyon, France, communicate with staff avatars, and take training courses on forensics and other subjects. Also announced at the event was the creation of a group of digital metaverse experts to represent law enforcement in the new virtual world. Interpol concluded that the increase in users and virtual worlds will be accompanied by an increase in digital crimes. These include data theft, money laundering, fraud, extortion, phishing, sexual harassment, and stalking. At the same time, the metaverse brings many benefits to law enforcement, Interpol noted. Among them were the ability to work remotely, networking, collecting and preserving evidence and training. https://www.youtube.com/watch?v=P5AEedw_r8Q During the demonstration, experts conducted a training course on how to check travel documents and search passengers in a metaverse classroom. The students were then “teleported” to the airport, where they were able to apply their acquired skills at a virtual border checkpoint. Earlier, Interpol announced the creation of a cryptocurrency crime unit. The team, based in Singapore, will assist law enforcement agencies in different countries in investigations related to digital assets. https://altcoin.ng/interpol-launches-first-police-metaverse/ |
| Investment / Tesla Refused To Sell The Company’s Remaining Bitcoins by altcoinng: 11:49am On Oct 20, 2022 |
A new quarterly report shows that tesla has $218 million worth of Bitcoin left on its balance sheet. The world’s leading electric car maker, Tesla, retained $218 million worth of bitcoins on its balance sheet, according to its third-quarter financial report released on the evening of Oct. 19. The company did not sell or purchase any Bitcoin between July and September, despite bitcoin’s continued decline. Tesla invested $1.5 billion in bitcoin in January 2021, but in the second quarter of this year, the company sold about 75% of all coins. As of June 30, the value of Bitcoin on the company’s balance sheet was $218 million, just as it was on September 30. Also, the report shows that Tesla’s revenue and operating profit set a new record at the end of the third quarter, with revenue up 56% to $21.45 billion and operating profit up 84% to a record $3.7 billion. The price of Bitcoin reacted sensitively to news about its purchases and sales by Elon Musk’s company. After the news about buying bitcoin in 2021, the price of the bitcoin renewed its historical maximum at that moment, having risen by 13% to $44k for a day. Also, after the company published its report for the second quarter of 2022, which said about the sale of the coin, the bitcoin price dropped from $23.7 thousand to $23 thousand. However, the publication of the third quarter report did not cause bitcoin to react. Its price for the day decreased by 0.3%, the coin is trading around the mark of $19.1 thousand, according to CoinGecko. The market capitalization of bitcoin is $367 billion with a daily trading volume of $23 billion. https://altcoin.ng/tesla-refused-to-sell-the-companys-remaining-bitcoins/ |
| Phones / Jack Dorsey Launches Bluesky Social, New Social Network by altcoinng: 11:41am On Oct 19, 2022 |
Twitter co-founder and former CEO Jack Dorsey lifted the veil of secrecy on the new decentralized social network Bluesky Social. https://altcoin.ng/twitter-founder-jack-dorsey-launches-new-social-network-bluesky-social/ 25 Likes 4 Shares
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| Investment / What Is BUSD Currency And How Does It Differ From Other Stablecoins? by altcoinng: 2:43pm On Oct 18, 2022 |
The Binance USD (BUSD) stablecoin, which is tied to the U.S. dollar, was released in 2019 by the cryptocurrency exchange Binance and the blockchain company Paxos. Even though stablecoins are supposed to be stable by definition, many of them have been very volatile, and some of them have even lost their peg. At the same time, BUSD is a very stable currency. Only when the whole crypto market crashed, in March 2020, at the start of the coronavirus pandemic, did the price of the coin change in a big way. On March 12, the price of BUSD hit its all-time high of $1.11 and its all-time low of $0.88. (March 13). Continue reading here: https://altcoin.ng/what-is-busd-currency-and-how-does-it-differ-from-other-stablecoins/ |
| Crime / Mango Markets Agrees To Pay Out $47M To A Hacker by altcoinng: 1:25pm On Oct 17, 2022 |
The DeFi-platform Mango Markets community voted in favor of a settlement with the hacker who stole $116M from the protocol. He will return $69 million and keep the remaining $47 million as a reward. 96.6% of users were in favor of the proposal. All participants will receive a full refund from the treasury and waive any potential claims and criminal cases. According to The Block, the hacker used $10 million to carry out the attack. Despite this, his reward could be one of the largest in the cryptocurrency industry. On October 12, an unknown person took out about $116 million in digital assets from Mango Markets. The reason for the hack was cited as oracle price manipulation. The same day the head of the cryptocurrency exchange FTX Sam Bankman-Fried commented on the hack Mango Markets. According to him, it was not the malfunctioning of price oracles that allowed the attacker to withdraw funds, but the shortcomings of the risk assessment system. https://altcoin.ng/mango-markets-agree-to-pay-out-47m-to-a-hacker/ |
| Investment / Volume Of Bitcoins In The Wallets Of Hodlers Reached A 5 Year High by altcoinng: 10:06am On Oct 17, 2022 |
The total amount of lost bitcoins as well as bitcoin in the wallets of long-term crypto investors reached a five-year high (7,554,982.124 BTC). An increase in the metric means that bitcoin’s active market supply is decreasing. This promises an optimistic outlook for the price of bitcoin, provided the demand for it is growing or unchanged. On the other hand, QryptoQuant analysts noted the continuation of the bearish trend. According to their observations, investors who bought bitcoin after December 2020 are now at a loss. Consequently, the long-term Spent Output Profit Ratio is unlikely to resume its uptrend any time soon. https://altcoin.ng/volume-of-bitcoins-in-the-wallets-of-hodlers-reached-a-5-year-high/ |
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