On Tuesday, European cryptocurrency investment firm CoinShares posted its interim Q2 2022 results. Compared to the prior year’s quarter, the firm’s revenue declined from 19.6 million pounds ($23.89 million) to 14.2 million pounds ($17.31 million). At the same time, its net income fell from 26.6 million ($32.42 million) pounds in Q1 2021 to 0.1 million ($0.12 million) pounds. CoinShares explained that…
A new “gifting” feature on leading NFT marketplace OpenSea is causing confusion over mislabeled transactions—something that could potentially be exploited by predatory NFT traders. NFTs—unique blockchain tokens that signify ownership of digital items—can now be sent directly to any wallet during the purchase process on OpenSea. This means traders can buy an NFT with Ethereum from one wallet, but deliver…
According to new market research published by blockchain data firm Nansen, crypto users spent 963,227 Ether (ETH), worth $2.7 billion, minting nonfungible tokens (NFTs) on the Ethereum blockchain in the first half of 2022. An overwhelming majority of minting took place on OpenSea.io. Minting occurred across 1.088 million unique wallet addresses on Ethereum during this period, Nansen said. In comparison,…
In brief Luxury fashion brand Gucci will accept ApeCoin (APE) at select U.S. stores. The firm accepts other top crypto coins and has also collaborated on NFT and metaverse game projects. Got a stash of ApeCoin (APE), the Ethereum-based token of the expanding Bored Ape Yacht Club ecosystem? Now you can spend it at luxury fashion brand Gucci, which today…
Bitcoin (BTC) has been trending up since mid-July, although the current ascending channel formation holds $21,100 support. This pattern has been holding for 45 days and could potentially drive BTC towards $26,000 by late August. Bitcoin/USD 12-hour price. Source: TradingView According to Bitcoin derivatives data, investors are pricing higher odds of a downturn, but recent improvements in global economic perspective…
On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time. Nomad Cross-Chain Bridge Exploited for $190 Million Cross-chain bridges in the world of decentralized finance…
The New York Department of Financial Services has fined Robinhood Crypto $30 million for multiple regulatory violations. The department concluded after an investigation that the company had failed to maintain proper cybersecurity measures or satisfy anti-money laundering obligations. Robinhood Crypto was found in violation of the department’s regulations for virtual currency, money transmitters, transaction monitoring, and cybersecurity. According to a…
Even though Web3 evangelists have long touted the native security features of blockchain, the torrent of money flowing into the industry makes it a tempting prospect for hackers, scammers and thieves. When bad actors succeed in breaching Web3 cybersecurity, it’s often down to users overlooking the most common threats of human greed, FOMO, and ignorance, rather than because of flaws…
Steve Cohen, the founder of hedge fund Point72 Asset Management, has reportedly exited his investment in crypto trading firm Radkl. According to a Tuesday report from Bloomberg citing a Radkl spokesperson, Cohen has reduced his exposure to crypto investments following his exiting the trading firm. However, the spokesperson reportedly said Radkl was still “extremely well capitalized with its current investors”…
Decrypt on the Street: Chipotle Says ‘Buy the Dip!’ In our latest Decrypt on the Street segment, reporter Sander Lutz investigates Chipotle’s recent crypto marketing campaign and talks to Chipotle customers about their sadness amid the crypto crash. Sander himself entered the contest hoping to get rich; instead he got a single cup of queso dip. Source: https://decrypt.co/videos/interviews/UuV8fd5O/decrypt-on-the-street-chipotle-says-buy-the-dip
