Month: August 2022

Tinder pulls back on Metaverse dating plans

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Match Group, the parent company of popular dating app Tinder, says it is cutting funding for Web3-related research and development amid disappointing Q2 earnings and the departure of Tinder’scurrent CEO.  In a letter to shareholders on Aug. 2, Match Group CEO Bernard Kim revealed that it will be scaling back its Metaverse investments as well as scrapping plans to release an in-app virtual currency called Tinder Coins. The move also comes alongside the resignation of Tinder CEO Renate Nyborg, the company’s first female CEO that had initially set out plans…

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After four years, Japan brings back its first crypto ATM

Crypto ATMs — or BTMs as per local terminology — are back in Japan after a lengthy four-year hiatus. Local crypto exchange firm Gaia Co., Ltd announced on Aug. 2 that it will soon roll out BTMs that support Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). Despite Bitcoin ATMs having made their debut in Tokyo as early as 2014, the country has not seen any active digital asset ATMs since the crypto winter of 2018 which saw local exchange Coincheck hacked for $530 million, bringing the local…

ENS Domain Registrations Skyrocketed Last Month, Total Names Created Nears 2 Million – Bitcoin News

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The number of Ethereum Name Service (ENS) domains is nearing the two million mark as 1,888,209 ENS names have been etched into the Ethereum blockchain to date. The project recently detailed that July saw the largest monthly rise in revenue scoring 5,400 ether worth roughly $2.48 million during the course of the month. ENS Registrations Spiked Last Month with 378K Names Etched Into the Ethereum Blockchain ENS names are nearing the two million mark this week as registrations have steadily risen during the few months. Data from Dune Analytics indicates…

Bitcoin may behave more like US Treasury bonds: Bloomberg Intelligence

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The latest crypto market research from Bloomberg Intelligence suggests that Bitcoin may start to behave more like United States (U.S.) Treasury bonds and gold, rather than stocks. In its August Crypto Outlook report, penned by Senior Commodity Strategist Mike McGlone and Senior Market Structure Analyst Jamie Coutts, the research unit compared Bitcoin markets to those of gold, bonds, and oil. The authors suggested that macroeconomic influences such as the Federal Reserve’s monetary policies have resulted in similarities in Treasury bond markets and Bitcoin: “Tightening markets and plunging global growth support the…

Coinbase Asks US Supreme Court to Halt Lawsuits Connected to Scams and Dogecoin

Coinbase v. Bielski was filed by California resident Abraham Bielski, who lost over $31,000 after being targeted by a scammer who purported to be a PayPal representative and accessed Bielski’s Coinbase account. Bielski claimed Coinbase provided little help in regaining the lost funds and accused Coinbase of violating the Electronic Funds Transfer Act and Regulation E therein. Source AsksCoinbaseConnectedCourtDogecoinHaltLawsuitsScamsSupreme CryptoX Portal

Coinbase Asks US Supreme Court to Halt Lawsuits Connected to Scams and Dogecoin: Report

Coinbase v. Bielski was filed by California resident Abraham Bielski, who lost over $31,000 after being targeted by a scammer who purported to be a PayPal (PYPL) representative and accessed Bielski’s Coinbase account. Bielski claimed Coinbase provided little help in regaining the lost funds and accused Coinbase of violating the Electronic Funds Transfer Act and Regulation E therein. Source

$2B in crypto stolen from cross-chain bridges this year: Chainalysis

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Cross-chain bridge hacks have accounted for 69% of the total crypto stolen in 2022, amounting to $2 billion in losses, according to a new report.  The report comes from blockchain analytics firm Chainalysis on Tuesday, noting there have been 13 separate token bridge hacks this year — the most recent being the $190 million Nomad Bridge exploit. Q1 2022 was by far the quarter that saw the most amount of crypto stolen since 2021, due mainly to the Ronin Bridge Attack in late March, which saw $624 million in Ether…

Polkadot Price Moves Above $8, Sets Eye On $9

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Polkadot price has steadied itself above the $8 price mark. The coin seems to be extending the price recovery as DOT looks at moving past its next price ceiling. It also formed a bullish pattern on its daily chart. The cup and handle pattern that Polkadot has been forming for the past two months indicate that the bulls were strong in the market. The cup and handle pattern usually indicates a bullish continuation of price. Over the past week, Polkadot price surged over 24% marking strong recovery. DOT has been…