Ethereum-based layer two scaling network Polygon has quietly fixed a vulnerability that put almost $24 billion worth of its native token MATIC at risk. According to a Dec. 29 blog post from Polygon, the “critical” vulnerability in the network’s Proof-of-Stake (PoS) Genesis contract was first highlighted by two whitehat hackers on Dec. 3 and Dec. 4 via blockchain security and…
Despite missing the mark with their $100,000 Bitcoin price predictions in 2021, Former Chief Strategy Officer at Block One Brock Pierce and co-founder of research firm Fundstrat Global Advisors Tom Lee are both tipping Bitcoin could hit $200,000 in 2022. Essentially they are doubling down on their ambitious projections for 2022, even though Bitcoin’s high water mark of $69,000 was…
U.S. Senator Elizabeth Warren has argued that cryptocurrency is not a path to financial inclusion like crypto advocates claim. “Bitcoin ownership is even more concentrated within the top 1% than dollars,” she said, emphasizing the need for “real solutions to make the financial system work for everyone, not just the wealthy.” Senator Elizabeth Warren on Crypto and Bitcoin U.S. Senator…
We‘ve all heard stories of billion-dollar future contracts liquidations being the cause of 25% intraday price crashes in Bitcoin (BTC) and Ether (ETH) but the truth is, the industry has been plagued by 100x leverage instruments since BitMEX launched its perpetual futures contract in May 2016. The derivatives industry goes far beyond these retail-driven instruments, as institutional clients, mutual funds,…
As we come to the end of 2021, it’s popular to reflect on the year gone by, and produce crystal balls to predict the future bitcoin price. Firstly, though, one of my favourite thoughts about the future in general comes from Jeff Bezos. “I very frequently get the question ‘What’s going to change in the next 10 years?’ And that…
In brief BlockbusterDAO launched this month with the hope of buying the Blockbuster brand from Dish Network. The DAO plans to raise $5 million in funding through NFT sales. Only one physical Blockbuster store remains open as of 2021. Is this another attempt to juice the stock price of a nostalgia brand a la GameStop and AMC? Or is it…
Embracing Bitcoin is a bold move and a great chance for countries like El Salvador, but the end doesn’t justify the means. Bitcoiners are being played for President Nayib Bukele’s power fantasies of a new Bitcoin City, whose original plans were downloaded from the internet. Bitcoin is non-political, therefore Bitcoiners shouldn’t get too close to politics. Educational communities like Bitcoin…
A new type of airdrop has been very popular during the last quarter of 2021 as quickly assembled decentralized autonomous organizations (DAOs) have been distributing lots of value to existing crypto users. Just recently, Opendao gave Opensea users an airdrop and many people accrued thousands of dollars in SOS tokens. Now, another project called Gas DAO is airdropping tokens to…
In brief The Sandbox is an Ethereum-based metaverse game based around virtual land and NFT collectibles. The computer game just held its first Alpha playtest and will hold more in 2022 ahead of a wider public release. Digital land sales are booming lately following rising interest in crypto games and Facebook’s prominent push into the metaverse. But Ethereum-based metaverse games…
Bitcoin has been trading at sideways price action for most of December, struggling to stay above the 200-day moving average. After a strong October and an early November of new all-time highs, Bitcoin has encountered a blocking road in December, having lost 13.60% since the beginning of the month. This reality stands in stark contrast to a widespread belief that…
