Every week, I will be collecting some news stories / opinion pieces that I have found to be interesting in the crypto world and condensing them down into one easily digestible article. All the article and images are taken from a news source that I like to use and an alternative to CoinTelegram called BeInCrypto.
BeInCrypto is a news website founded in August 2018 that specialises in cryptographic technology, privacy, fintech, and the Internet — among other related topics. The primary goal of the website is to inject transparency into an industry rife with disingenuous reporting, unlabelled sponsored articles, and paid news masquerading as honest journalism. You can visit their website by clicking here or join their new Telegram Trading channel by clicking here. I am also part of that group and like the content they are discussing. There is a lot of news that came out last week, So let's get started!
The internal imbroglio currently affecting the OKEx crypto exchange platform has taken another turn with reports of the company’s founder in police custody.
According to a report by Chinese media outlet Caixin, on Oct. 16, inside sources at the exchange say police arrested OKEx founder Star Xu earlier in October. Xu has reportedly failed to appear for work in the last few days. What do you think about this? You can read more about this story by clicking here.
DeFi exchange and automated market maker Uniswap has finally gained the attention of the mainstream media as Bloomberg labels it the “most sought-after crypto exchange.”
The 2020 DeFi bubble and the protocols that have made it possible are getting wider attention through the mainstream media as it expands its scope beyond just bitcoin. The report essentially explains what DeFi is, adding that Uniswap is currently the industry leader. To read more about this, click here.
It’s not easy being a blockchain startup these days. The regulatory landscape is murky at best and making matters worse, you get a target on your back from scammers. This is what cryptocurrency exchange Kraken is warning the community about now.
Kraken Chief Security Officer Nicholas Percoco in a tweet announced that there is a “very active” scam that is currently targeting the cryptocurrency community. The bad actors have created a number of fake identities and are disguising themselves as “part of the Kraken Listing Team,” he explained, adding that they are using Telegram and LinkedIn for their scam. To read more about this, click here.
A pioneer of home video gaming, Atari, is preparing to launch its first hardware in over 20 years. The new Atari VCS will feature built-in cryptocurrency functionality.Decentralized data storage project Filecoin has made a splash in the DeFi space with its mainnet launch. Investors have been waiting for this day for three years. But market participants are warning that the fully diluted market cap has ballooned beyond what’s reasonable.
Although the launch coincides with new consoles from industry heavyweights, Atari is hoping to appeal to a different market. The company believes its latest gaming system will sell well with gamers who grew up playing now-legendary Atari titles. To read more about this, click here.
Decentralized data storage project Filecoin has made a splash in the DeFi space with its mainnet launch. Investors have been waiting for this day for three years. But market participants are warning that the fully diluted market cap has ballooned beyond what’s reasonable.
Cameron Winklevoss, the founder of Gemini, announced that the FIL/USD trading pair is now live on the exchange, saying that it’s the only such pair in the world at the moment. At one point, the FIL price had soared more than 140%. Currently Filecoin is ranked 33rd in regards to MarketCaps on CoinMarketCap. To read more about Filecoin's growth click here.
According to on-chain analytics, around 60% of all Ethereum coins have not been moved for over a year as anticipation for the long-awaited ETH 2.0 launch builds.
The bullish metric has been observed by ETHhub founder Anthony Sassano who commented on a Glassnode ETH ‘Hodl Wave’ chart.
He added that it will be interesting to see if this metric changes once Phase 0, also known as ‘Beacon Chain,’ is launched and holders start staking their stashes. To read more, click here.
A report emerged over the weekend claiming that members of the crypto and decentralized finance (DeFi) community plan to take action against Yearn Finance founder Andre Cronje and members of his team. The uproar began over the Eminence hack which resulted in the loss of several millions of dollars in crypto funds.
In late September, Cronje tweeted a few teasers regarding a project he was developing for a ‘gaming multiverse’ economy called Eminence Finance. At the time, Cronje stated that the smart contracts had been deployed on Ethereum, but the system was still three weeks away. To find out more, click here.
Grayscale Investments just announced another gangbuster quarterly performance.
The company, in its third-quarter digital asset investment report, revealed that it attracted more than $1 billion to its coffers during the period. As usual, most of the capital, or 84%, originated from institutional investors, the lion’s share of which were hedge funds.
Of the $1.05 billion that flowed into Grayscale products, the average weekly investment into the firm’s Bitcoin Trust was $55.3 billion. Grayscale has become a behemoth and now oversees $5.9 billion in assets under management (AUM). To read more, click here.
Cryptocurrency exchange giant Coinbase has recently implemented a Layer-2 (L2) scaling solution to enable faster and cheaper Ethereum transactions from its wallets as the technology starts to get rolled out on a wider scale.
An announcement on Oct 14 revealed that Coinbase Wallet is integrating with Optimism’s Optimistic Rollup testnet. To read more, click here.
The decentralized finance (DeFi) boom of 2020 has not been without risks. A great deal of money was made and lost through various pumps, rug pulls, and vulnerability exploits. DeFi Pulse has recognized this trend and launched a safety index to rank risks for various platforms.
The new offering has been developed in partnership with the Gauntlet Network, which is a simulation platform for DeFi and blockchain protocols. The Economic Safety Grade aims to allow users to identify and compare the risks they face using on-chain protocols. To read more, click here.
According to a new report from PricewaterhouseCoopers (PwC), blockchain technology could boost the global economy by $1.7 trillion over the next decade.
The report, titled Time for trust: The trillion-dollar reason to rethink blockchain), is PwC’s latest bullish blockchain projection. It was intended to assess how the technology is currently being used and explore its potential future impact on the global economy.
The report laid out five key application areas for the technology that underlies cryptocurrency and examined the potential to generate economic value using economic analysis and industry research. To read more, click here.
Oscar-winning actress Kate Winslet will star and co-produce Fake!, a movie adaptation of the infamous OneCoin cryptocurrency scam.
The OneCoin Ponzi scheme generated around $4 billion between 2014 and 2017. The cinematic adaptation is based on the book of the same title by OneCoin victim, Jen McAdam. Along with members of her family and friend circle, McAdam reportedly invested almost $300 million in OneCoin. To read more about this, click here.
That is my weekly roundup of the interesting news coming from the crypto world. What do you think about the topics / news stories and what was your favourite article? If you liked the content, please consider following me and tipping the article. Also are you a trader? If you are check out my favourite Telegram Trading chat, where you can discuss and find out more about crypto projects. Click here to start conversations with other crypto traders!