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Coinbase could serve as TradFi’s ‘index play on crypto’ — Analyst
Cryptocurrency analyst Will Clemente believes Coinbase stock will be the viable option for many TradFi investors to choose after Bitcoin.
Coinbase shares could serve as an “index play” for traditional finance firms looking for a way to gain broad exposure into the cryptocurrency sector, says Reflexivity Research co-founder Will Clemente.
“I think TradFi will probably view COIN [Coinbase] as kind of an index play on crypto because they have so many different kinds of verticals now,” Clemente said in a Dec. 21 Space on X (formerly Twitter) hosted by Bitcoin bull Anthony Pompliano.
“Someone might come in the space and say, I bought some Bitcoin, I don’t really know which of these other assets to pick; Coinbase feels like a pretty safe kind of index style play,” he added. Read More
Solana surge continues, now flipping Binance’s BNB in market cap
Only a day after flipping XRP, SOL has beat BNB in market cap following an 18% surge over the past 24 hours.
A strong 18% surge in the price of Solana over the past 24 hours has boosted the cryptocurrency to the fourth spot in market capitalization — the first time it’s done so in over two years.
The latest surge catapulted Solana’s market cap to $41.9 billion, overtaking Binance Chain’s BNB market cap of $41.8 billion. SOL is currently priced at $98.40, up 18% on the day.
Only a day earlier, on Dec. 21, Solana had surpassed XRP in market capitalization.
It comes as SOL gained over 30% in the past week, outperforming all other major cryptocurrencies in the same timeframe.
However, despite the “ETH killer” moniker many of its supporters tout, Solana has a long way to go to catch up to Ethereum’s market cap of $269 billion. Read More
Global securities body report isn’t a death knell for DeFi — Analyst
While some worried the recommendations in the IOSCO report could “kill” DeFi, Apollo Crypto’s Matthew Harcourt says it poses no “existential risk” to decentralized finance.
A series of privacy-busting policy recommendations from the International Organization of Securities Commissions (IOSCO) shouldn’t be seen as a death knell for decentralized finance (DeFi), argues Apollo Crypto analyst Matthew Harcourt.
In a Dec. 19 report, IOSCO wrote that DeFi posed a unique challenge to regulators due to the often anonymous and decentralized nature and made nine recommendations around regulating the sector, including exposing “responsible persons” and holding it to the same rules as traditional financial markets.
The report caused some to sound the alarm over the future of DeFi, such as Trading Protocol co-founder Mikko Ohtamaa, who described the document as a “final report on how to kill #DeFi.” Read More
‘MS Drainer’ scammers used Google Ads to swipe $59M in crypto: Report
The attackers used a variety of techniques to get around Google AdSense audits, including regional targeting and page-switching.
Scammers used a wallet draining service called “MS Drainer” to siphon approximately $59 million in crypto from victims over the past nine months, according to a Dec. 21 report on X (formerly Twitter) from blockchain security platform Scam Sniffer. The scammers used Google Ads to target victims with fake versions of popular crypto sites, including Zapper, Lido, Stargate, DefiLlama, Orbiter Finance and Radient, the report states.
Wallet drainers are blockchain protocols that allow scammers to transfer crypto from a victim to the attacker without their consent, usually by exploiting the token approval process. Developers usually charge a percentage of the profit in exchange for using their drainer software, and this fee is enforced through smart contracts, making it impossible to avoid. Read More
A democratic society values a free-flowing media ecosystem. A healthy media ecosystem is one of the characteristics of a democratic society. Mass media outlets such as newspapers and cable TV networks were prominent in the past. Today, the internet and social media platforms allow for greater communication across society.
Journalism, investigative correspondents, and even freelance writers are essential to that ecosystem. High-quality reporting revealing brutal truths and users' scope and exposure on social media to either create or access information are forces that can drive genuine societal change. And even keep the power structures in check.
Despite the positive aspects mentioned above, harmful practices and negative external forces related to the media ecosystem often eclipse them. These issues are usually easy to recognize once they’re identified. Therefore, it is important to acknowledge them and spread awareness about their potential risks.
Doing so will help you make informed decisions about how you use media and how it can impact your life and the lives of others. The following are a few issues pervasive in many digital news sites, forums, and social media platforms. Read More
Markethive Media has embraced blockchain technology and cryptocurrency, building an ecosystem that belongs to “we the people,” eliminating many of the issues plagued by media outlets today. With its meritocratic culture, dynamic social media interface, and growing community, Markethive is enhancing and bringing the platform into the future internet with new technology and interfaces, but still in keeping with the human touch.
Bitcoin Inscription Frenzy Hits EVM Blockchains
In the wake of Bitcoin’s inscription phenomenon, Ethereum Virtual Machine (EVM)-compatible chains are experiencing a surge in similar practices, leading to unexpected service outages and a little confusion over their use.
EVM Chains Face Surge in Token Inscriptions:
Over the past year, Bitcoin inscriptions have surged in popularity due to the advent of Ordinals, significantly impacting the Bitcoin blockchain. This controversial method has led to a sharp increase in transaction costs and a congested mempool, reigniting debates reminiscent of 2017’s block size war.
The phenomenon has now extended to Ethereum and other EVM-compatible chains. Despite the initial skepticism about introducing inscriptions on smart contract-capable blockchains, the demand for EVM inscriptions has been so high that it caused a service outage on Arbitrum on Dec. 15, 2023. Read More
Paxos gets NY green light to join Solana blockchain: Report
The New York Department of Financial Services (DFS) has approved Paxos' expansion to the Solana blockchain.
Stablecoin issuer Paxos has reportedly received regulatory approval from the New York Department of Financial Services (DFS) to launch its products on the Solana blockchain.
To date, the company has been authorized to issue its Pax Dollar (USDP) stablecoin only on the Ethereum network due to restrictions imposed by the DFS. The debut of Paxos on Solana is scheduled for Jan. 17, 2024.
Pax Dollar is a fiat-collateralized stablecoin, meaning it's backed 1:1 by the United States dollar. Read More
What is crypto malware, and how to detect it?
Unveil the threat of crypto malware and learn effective detection methods to safeguard your digital assets and transactions.
The ever-evolving nature of cybersecurity threats necessitates constant vigilance against emerging threats. One such threat gaining traction is crypto malware. Recent statistics reveal a disturbing trend: Over 300 million crypto malware attacks were recorded in the first half of 2023 alone, representing a nearly 400% increase compared to the same period in 2022.
The alarming statistics indicate shifting dynamics in the cybercrime landscape, suggesting a growing focus on crypto malware. So, what exactly is crypto malware? Crypto malware is a class of malware that is designed to hijack the processing power of computers or devices for the purpose of mining cryptocurrencies.
Crypto malware accomplishes this through a process referred to as cryptojacking. Usually, the stolen processing power is used to mine privacy-centric cryptocurrencies such as Monero, which have advanced obfuscation features that make it difficult for authorities to track. Read More
This Might Be the Last Hurdle for Bitcoin ETF Approval
As the days tick down to the SEC's next Bitcoin ETF deadline, there's one last hurdle to clear: Getting clear on authorized participants.
As the clock ticks down to the January deadline for the Securities and Exchange Commission to approve, deny, or delay its decision on spot Bitcoin ETFs, there’s one last hurdle for potential issuers: Authorized participants.
Bloomberg Intelligence analyst Eric Balchunas predicted that each Bitcoin ETF hopeful will need to have explicit authorized participant parameters in its S-1 before it’s considered for approval.
“This is no easy last step, and may keep some from [the] starting gate,” Balchunas said Friday on Twitter. He went on to hypothesize that, “AP agreement + cash creates = approval.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
