This Report will provide you some important and quick news of cryptocurrencies that happened around the world.
1. Elon Musk Declares Dogecoin To Be The “Strongest”
Tesla CEO Elon Musk has repeated that Dogecoin satisfies the payment characteristics of a cryptocurrency better than any other cryptocurrency. He channeled fellow billionaire Mark Cuban in a tweet, telling that the meme cryptocurrency is the “strongest” means of trade because to its community: “When it comes to utilizing “Doge” as a means of trade, the community is the strongest.”…[Contiue Reading]
2. Coinbase Aims To Be The ‘Amazon’ Of Cryptocurrencies
Coinbase Is Considering Adding All Legal Cryptocurrencies on Its Platform. Coinbase disclosed its strategy at Tuesday’s Q2 2021 earnings conference. Brian Armstrong, CEO of Coinbase, said, “We at Coinbase constantly consider the longer-term cycles of cryptocurrency. We are always monitoring long-term trends.” He highlighted two significant developments impacting Coinbase…[Continue Reading]
3. Scammers Use QR Code Tricks To Steal Crypto
According to a report by Malwarebytes and the Better Business Bureau (BBB), scammers are now targeting everyday actions such as utility bill payments in order to steal victims’ Bitcoin. The threat actors supply the victim with a QR code and guide them to a Bitcoin ATM to make the payment in this new scam. Notably, this scam preys on the victim’s fear and compliance with their instructions to make a payment…[Continue Reading]
4. DAO Maker Becomes Latest Defi Hack Victim
The number of Defi protocols that have been hacked continues to rise as another protocol has been compromised. Dao Maker, a crowdfunding platform, was hacked, with hackers stealing USDC from users’ top-up accounts and replacing them with ETH. According to a report from WuBlockchain, a total of 2,261 Eth valued more than $7 million was utilized to withdraw USDC…[Continue Reading]
5. Twitter’s CEO Trolls Ethereum Holders
Given Twitter CEO Jack Dorsey’s affinity for Bitcoin and the fact that Bitcoin has its own Twitter emblem, many speculated whether Dorsey was indirectly mocking Ethereum (ETH). After all, he is a fervent Bitcoin (BTC) maximalist who had frequently declared that Bitcoin will become the internet’s native currency in past…[Continue Reading]
6. Coinbase Removes USDC Backed By US Dollars Claim
The Coinbase website now states that USD Coin is “backed by fully reserved assets,” as opposed to the previously removed claim that it was “backed by US dollars in a bank account.” USD Coin, Circle’s dollar-pegged stablecoin, appears to have lost one of its most significant competitive advantages over Tether (USDT)…[Continue Reading]
7. The US Senate Fails To Pass A Critical Crypto Amendment
Senators Rob Portman (R-OH), Cynthia Lummis (R-WY), Patrick Toomey (R-PA), Ron Wyden (D-OR), and Kyrsten Sinema (D-AZ) managed to reach a compromise with yet another rewrite of the crypto provision in the infrastructure bill after putting forward their dueling amendments to the damaging crypto provision in the infrastructure bill…[Continue Reading]
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