The WSJ once again showed its ignorance about blockchain technology by doing a hatchet job on crypto interest rates in order to please its Wall Street sponsors and keep boomers in those ridiculous 0.4% yield bank “savings” accounts. The title is literally: “You Can Earn 6%, 8%, Even 12% on a Bitcoin ‘Savings Account’—Yeah, Right” (they forgot about UMA’s much higher yield, but anyway. Other articles by the WSJ: “Cars faster than horses, yeah, right!”; “Science man says Earth revolves around Sun. Moron.”; “Fire make food hot. Lie!”
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Apparently, the bankrupt cryptocurrency lending platform Cred hired a prison escapee (convicted for financial crimes) as its CFO because, per the CEO: “Dude has street cred.” In totally unrelated news, Cred is being sued by customers for “losing” $66M through fraud and incompetence. Who’d have thought...
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Crypto lending/borrowing app, BlockFi, accidentally sent over 500 people confirmation emails with profanities and racist slurs after a malicious actor used 1000 real emails to sign up for fake BlockFi accounts and put profanities/racial slurs as first/last names.
Well, guess that’s one way to get some new motherf*ckers into crypto.
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Optimism announced that it will launch official Dai on Optimism L2 and provide an official Dai bridge, lowering fees and replacing the 7-day lockup with almost instant withdrawal from L2 to L1. Crypto journalists are calling this a “game-changer” because they already used “revolutionary” and “breakthrough” in the previous articles about planned incremental improvements happening regularly in the blockchain space.
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After being bullied by environmentalists and some artists, the online art portfolio platform, ArtStation backpaddled on its plans to launch NFT artworks.
This way, the platform’s artist will not participate in the energy drain of POW mining and will continue to travel with their 100-pound pieces of marble and accessories around the world, burning jet fuel, car gas of all the museum visitors, electricity for operating a museum, and other environmentally friendly uses of natural resources. Oh, and barely sell anything.
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