In case you haven’t heard, antivirus icon and cryptocurrency pioneer John McAfee was found dead earlier this week. First, let me just say this: McAfee was a legend. Despite being a controversial whack job, his antivirus software—the one that bears his name—has been a leader in computing security for decades. Well, ever since personal computing was a thing. Secondly, he was way smarter than I’ll ever be. But his crypto legacy is a mixed bag.
He caught onto the crypto craze early,
and became one of bitcoin’s biggest promoters.
Then he was accused of fraud and
charged $1 million to tweet about crypto projects.
Seriously, a name like McAfee, when attached to new technology, can carry a lot of weight—and it did. But McAfee’s eccentric nature did as much harm to crypto as it did good. His legacy will mostly positive, but it brings a lot of baggage. He made life interesting in the early 21st century, a hero to some and a villain to others. Too bad his story ends tragically.
Bitcoin dipped below $30,000 and Ethereum fell below $2,000 on Tuesday this week. While ETH has bounced back above $2K each day since, it keeps falling below the $2K mark and this morning was at $1,795.82. As optimistic as many crypto fans seem to be about the market—as I am—I’m realistic enough to believe that further declines are on the way. The market will likely head south again before it goes north, but when it does go up I think we’re headed toward $100,000. On Monday, more than $1 billion fell out of the BTC market. “Rich Dad Poor Dad” author Robert Kiyosaki is preparing for the crash and readying himself to buy.
40 percent of Australians plan to buy crypto in 2021.
Social platform Trybe is migrating from the EOS blockchain to the Terra blockchain. As a part of that effort, the platform will airdrop LOOP tokens to Trybe members who transfer their TRYBE tokens to a predetermined Terra wallet. LOOP is Trybe’s new decentralized exchange. On June 25, Trybe members received an email with this paragraph included:
But not only that - we have also decided to migrate the TRYBE token and platform to the Terra blockchain. Terra is a fantastic chain with a thriving community, and (unlike EOS) is very well supported by the founding team. We're more than sure that you're all going to love Terra as much as we do!
Crypto crime is on the rise.
The founders of South Africa’s largest crypto exchange, brothers Ameer and Raees Cajee, have vanished along with $3.6 billion in bitcoin. In April, they warned investors that their exchange, Africrypt, had been hacked.
Bitcoin may now have something new to worry about.
An XRP whale transfers 26 million coins from Binance.
Check out this blueprint for central bank digital currencies.
UK financial watchdog warns investors that there are more than 100 digital currency firms operating in the country illegally.
Morningstar analyzes who wants crypto in their retirement plan.
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This post was first published at Cryptocracy. It is not intended as financial advice. I am not a financial advisor. Please consult a financial advisor before you invest your hard-earned money into crypto.