Day: September 22, 2021

Snoop Dogg Reveals Rapper Is a Crypto Whale With Millions of Dollars in NFTs – Blockchain Bitcoin News

This year a great deal of popular hip-hop superstars like Eminem, Jay-Z, Ja Rule, Lil Pump, and many more have been getting into the non-fungible token (NFT) collectibles scene. On Monday, the American rapper Snoop Dogg revealed that he is an avid collector of NFTs. Snoop claims to be a pseudonymous Twitter account dubbed “Cozomo de’ Medici,” an online character known to hold millions of dollars in NFTs. Snoop Reveals His Pseudonymous Twitter Account This past Monday, Snoop Dogg revealed on Twitter that he is “Cozomo de’ Medici” an NFT…

Federal Reserve Could Taper ‘Soon’ as Officials See Interest Rate Hike Next Year — CoinDesk

Many cryptocurrency investors speculate that “quantitative easing,” or QE, could weaken the dollar, pushing up the value of bitcoin, which has a capped supply. Bitcoin is also still seen on Wall Street as a speculative asset, and the bet is that more investors will be forced to seek such investments as QE – the practice of printing money to stimulate markets – suppresses returns in traditional bond markets. Source

Polygon Will Seek To Strengthen DeFi With $2 Million Bounty

In the face of an increase in the number of attacks on DeFi platforms, Polygon has decided to take new measures. The Ethereum scaling platform recently announced a $2 million bug bounty. In that way, Polygon expects to “root out and eliminate potential security flaws”, according to a press release. Only a few months ago, the DeFi ecosystem experienced one of its biggest hacks when it lost over $600 million on different platforms. Polygon recorded an $85 million loss at the time. While Ethereum and Binance Smart Chain (BSC) recorded…

Robinhood confirms crypto wallet feature on app starting in October

Trading app Robinhood has opened up a waitlist to test a crypto wallet for users to hold their tokens. According to a Wednesday blog post, in October Robinhood plans to start testing a digital wallet feature on its app that enables users to send and receive cryptocurrencies. The move may encourage more Robinhood users to use the app for crypto trading, as it currently only allows them to buy crypto with U.S. dollars and trade on the platform — users can’t deposit or withdraw in crypto. Robinhood did not specify…

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Altcoins see a 35% bounce after Bitcoin reclaims $43,000

The sharp correction that threatened to pull Bitcoin and altcoin prices back toward their sing lows appears to have dissipated now that Evergrande informed investors that it intends to make an on-time payment on its debt. With global markets feeling reassured, major equities, Bitcoin and altcoins prices all saw a rebound at the market open. After a swift drop below $40,000 on Sept.21, BTC now trades above $43,300 and Ether (ETH) has reclaimed the $3,000 level. Altcoins have also seen a strong recovery, with many posting up to 15% gains at…

As Ethereum Price Suffers, JPMorgan Strategist Hits The Asset With A 55% Lower Valuation

The past two days following the weekend close have not been the best for Ethereum. Along with the broader crypto market, the digital asset has suffered numerous dips that saw it break below $3,000 for the first time in a month. Although recovered back above $3,000, Ethereum continues to have a hard time maintain its position above this resistance point. Although hopes are up in the community for recovery, a JPMorgan strategist has warned that the market is likely to see more dips that will drive the price of the…

Additional compensation available for Cryptsy victims, court notice says

Last week, some former users of the now-defunct cryptocurrency exchange Cryptsy received a notice informing them of a new turn in the ongoing class settlement process. Authorized by the U.S. District Court for the Southern District of Florida, the document states that those who were defrauded in the 2016 collapse of the digital finance platform may be entitled to receive money from additional recovery. Cryptsy was a crypto exchange that went bust in January 2016 following months of user-reported issues with withdrawing funds from the platform. The court later found…

Biden Administration Sanctions Crypto Exchange Due to Alleged Ransomware Involvement

United States regulators are sanctioning the cryptocurrency exchange Suex for its alleged involvement with ransomware actors. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) says the exchange, which is based in Russia and the Czech Republic, had a hand in facilitating financial transactions with proceeds stemming from at least eight ransomware variants.   According to the OFAC, analysis of known Suex transactions indicates that more than 40% of the exchange’s activity was associated with illicit actors. Reports first surfaced last week that the Biden administration intended to…