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YouTube Streamer Ice Poseidon Rug Pulled Fans for $500,000 And Bought Himself A New Tesla

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YouTube Streamer Ice Poseidon Rug Pulled Fans for $500,000.



Popular YouTube creator Ice Poseidon is alleged to have pulled the rug on his fans, stealing $500,000 from people who invested in the project. 

Media outlet Kotaku reports that a YouTuber named Coffeezilla, who investigates crypto-related scams, disclosed in a 23-minute video on the video-sharing platform, narrating how Poseidon pulled the rug on his followers. 

Last year, Poseidon convinced his followers to invest in his cryptocurrency named CxCoin. He claimed the token would help content creators get crypto donations that would support their work. 

Excited by the offering, investors committed a total of $500,000 into the scheme, with the hope of getting huge returns. 

However, investors were left scratching their heads after Poseidon exploited a bug added to the crypto project and made away with the entire $500,000 invested in the scheme. 

Poseidon Not Remorseful 

While many would think Poseidon would feel bad about the unfortunate incident, he seemed happy about the development.  He blamed his fans who invested in the project. Poseidon added that he will not return the money to his fans, adding that people need to look out for themselves. 

“Part of the responsibility is on [the fans] as well for putting too much emotion into it. Nobody deserves [to get ripped off]. Sometimes you have to look out for yourself,” Poseidon said. 

Late last month, Poseidon told Coffeezilla that he would give back $155,000 of the total loot back to the victims, however, it was discovered that he only reimbursed $47,000. 

It was alleged that Poseidon used $300,000 of the ill-gotten cryptocurrency proceeds to buy himself a new Tesla car and further used a significant amount to pay the developers who designed the CxCoin platform. 

Valour’s Solana ETP Trading Starts On World’s 12th Largest Stock Exchange ‘Frankfurt Stock Exchange’

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Frankfurt Stock Exchange lists an exchange-traded product (ETP) powered by Solana (SOL) from Valour, a subsidiary of DeFi Technologies.


 

The Valour Solana ETP enables investors to gain exposure to SOL, the native cryptocurrency in Solana’s ecosystem, simply and securely, via their bank or broker.

Trading in Valour Solana (SOL) SEK began on February 2, 2022 on the Boerse Frankfurt Zertifikate AG.

The Frankfurt Stock Exchange is the world’s 12th largest stock exchange by market capitalization located in Frankfurt, Germany. The Frankfurt Stock Exchange is owned and operated by Deutsche Börse AG and Börse Frankfurt Zertifikate AG. It is located in the district of Innenstadt and within the central business district known as Bankenviertel.

Defi Technologies CEO Russell Star announced a further expansion of the product offering for investors on European exchanges.

“DeFi Technologies is moving one step further in delivering upon its mission to empower investors. We look forward to continuing to provide investors access to industry-leading ETP’s on regulated exchanges throughout Europe; we also look forward to introducing several new products in the coming days and ultimately launching all our products on the Euronext exchange, the fourth largest exchange in the world.”

Earlier Valor announced the launch of ETP based on the native token of the Uniswap decentralized exchange.

Four Businesses Burned 468.3 Million Shiba Inu In January

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Shiba coffee, Brick Buster, Shiboshi NFT, and bigger entertainment burned over 468.3M shib coins in January.



Shiba Coffee Company has recently released its burning figures for January 2022.

The Coffee Company reported that they could burn 19.8 million SHIB tokens with the help of the Shiba Inu Community. The company also has shown its gratitude to Shiba Inu Community and said that without the support of the SHIB Army, this burn wouldn’t be possible.

As proof of burn, the Coffee Company has shared the screenshot of the burn transactions.

The company also noted that it would soon update a blog post on its official website to explain everything to Shiba Coffee Company in January. However, the blog post is not updated yet.

Shiba Coffee Company is based in the United States and working on a unique model to burn Shiba Inu (SHIB) token. The model targets explicitly Coffee lovers. The company says, “Drink Coffee and Burn SHIB.”

100% of the earned profit is used to purchase Shiba Inu (SHIB) token and hold it for life. Out of which 10% is sent to Vitalik Buterin’s burn wallet.

Looking into the official website of Shiba Coffee Company, we found that besides the sale of Coffee, the company has introduced a few other models that will help SHIB reduce its circulating supply. The other models include sales of merchandise, NFT burner auctions, and Games.

The official Twitter handle of Shibburn reported that over 1.32 billion SHIB tokens were taken out of circulation forever in January, with 293 transactions.

According to the On-chain data, the most significant burn is carried by Brick Buster, the game available to play on Google Play Store. The game was able to burn 232 million SHIB tokens in January.

The collective Shiboshi NFT contributes the second biggest burn, i.e., over 109 million tokens were burned through name changes with 58 transactions.

Bigger Entertainment came third and was able to burn 103 million tokens.

Other than these top four names, Shibburn tracker and ShibaSearch have burned 100 million and 60 million tokens, respectively.

Research Shows Bitcoin Accounts For Only 0.08% of CO2 Emitted Worldwide in 2021

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A report by CoinShares shows that bitcoin mining was responsible for just 0.08% of the planet’s carbon dioxide emissions in 2021, despite the mining often touted as a major environmental villain.



According to the Coinshares report, the total emission of CO2 over the past year was 49,360 megatons (Mt). Together, the bitcoin mining operations emitted 41 Mt, an increase of almost 14% compared to the 36 Mt produced in 2020. Although significant, the number is relatively small compared to other sectors and when analyzed together with the benefits offered.

“In a global context, this is an insignificant value for the total emissions, equivalent to less than 0.08% of the total, or less than 1/1,000 of the global production of CO2. As a reference, countries with large industrial bases, such as the US and China, produced 5,830Mt and 11,580Mt, respectively,” the report says.

Coinshares expects that the CO2 emission from the Bitcoin network will begin to decrease over time: “We expect the overall carbon intensity of the Bitcoin network to continue decreasing over time because the global average of [bitcoin] miners are more mobile than traditional industries and can move to locations where cheaper renewable power plants are built, almost no matter how remote the locations.”

CoinShares further claims that new methods of utilizing renewable energy will further accelerate the reduction in CO2 emissions across the grid: “We expect bitcoin miners to start consuming large amounts of wasted flare gas, capturing the gas from the flare knock-out vessel and compressing it using liquid ring compressors. The recovered gases can then be reused within the facility’s fuel gas system, as a refinery feedstock, or for re-injection, the mining network can become carbon negative.”

To top it off, the company estimates that the scarcity of bitcoin can also favor the reduction of its environmental impact: “Currently, most of the energy is used to generate new coins, but the generation of bitcoins is programmed to decay to zero in the next 100 years. By the 2040s, over 99% of all bitcoins will have already been mined. Once the issuance of bitcoins is terminated, energy would be consumed for bitcoin transactions rather than mining.”

According to Coinshares, the Bitcoin network’s energy consumption is around about 89 terawatt-hours (TWh), well below other estimates, such as that of the University of Cambridge, which speaks of 128TWh.

In addition, the study states that renewable sources like coal and natural gas are still the two primary fuels for the production of energy used by bitcoin miners, responsible for 59% of the total energy used in the activity (the other fossil fuel is oil, with 1%).

This, however, is not exactly the fault of Bitcoin, but of the global energy matrix, still very focused on the use of fossil fuels. The shift in the power generation industry to greener sources could make bitcoin fully sustainable. The ability for miners to move to other areas should they have a need or benefit could accelerate this process.

Recently Anthony Pompliano famous investor and Bitcoin advocate in CNBC’s Squawk Box program said ‘We Shouldn’t Apologize For Bitcoin’s Energy Usage, Crucial Things In World Use Energy”

 

Crypto Biggest Hack Of 2022, Hackers Abstract 120K WETH Worth $319M From A Cross-Chain Bridge

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On February 3, the Wormhole cross-chain protocol based on Solana was hacked. 


A wormhole is a cross-chain messaging protocol that connects high-value blockchain networks.

The attackers took advantage of the exploit and withdrew 120,000 WETH from the project pool (over $319 million).

The transaction can be seen here:

https://etherscan.io/tx/0x24c7d855a0a931561e412d809e2596c3fd861cc7385566fd1cb528f9e93e5f14

The developers later reported that the vulnerability was patched, and the team was working on getting the network back up as soon as possible.

CertiK explained that Wormhole smart contracts did not fully validate the input data, which allowed transactions to be initiated with incorrect variables. Thanks to this vulnerability, hackers withdraw 120k WETH to their address.

Certik Finding says:

“The attacker invoked the complete_wrapped instruction with the spoofed inputs `ctx`, `accs` and `data.`

The instruction does not perform complete verification on the correctness of the input `ctx,` `accs,` and `data.`

In this case, the spoofed data will be passed and processed. The mint authority for the Wormhole ETH is a PDA and will sign the “mint” instruction. Lastly, the “invoked_seeded instr” will be successfully triggered and mint Wormhole ETH to the attacker.”

Recall that in January 2022, the founder of Ethereum, Vitalik Buterin, called cross-chain bridges vulnerable due to problems related to the security of assets.

Binance Smart Chain Leads Ethereum And Polygon By Far In Number Of 30 Day Active Addresses

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Binance, Ethereum, and Other Records Increased Active Addresses Last Month.


 

Recent stats from cryptocurrency analytics platform Nansen suggest a growth in the number of active addresses across selected blockchains in January 2022. 

Per the data, the number of unique active addresses on Binance Smart Chain (BSC) topped the list last month, with a volume of 10.4 million addresses. 

The Changpeng Zhao (CZ) led blockchain project was followed by Ethereum, which recorded a total of 5.44 million in the number of unique active addresses. 

In addition, active addresses on Ronin, Polygon, Avalanche, and Fantom hit 3.4 million, 2.36 million, 714,000, and 414,000, respectively. 

 

Rising Interests in New BSC-based Tokens  

The growth in the number of active addresses on the Binance Smart Chain can be attributed to users’ intention to participate in newly launched crypto projects on the network. 

New cryptocurrencies are launched on Binance-based decentralized exchanges PancakeSwap and PooCoin, almost on a daily basis. 

Although not all of these cryptocurrencies guarantee massive returns, some of these projects, like Baby DogeCoin (BabyDoge), have turned average income earners into overnight millionaires. 

Ethereum Led by NFTs: Ethereum’s monthly active addresses surged above five million as a result of interest in non-fungible tokens (NFTs) and play-to-earn (P2E) games. 

The NFT sector is considered among the hottest niches in the crypto sphere at the moment, with billions of dollars traded across various NFT marketplaces, including OpenSea. 

Last month, Dune Analytics reported that OpenSea saw a record $4.95 billion in trading volume. 

Crypto Market Crash Contributed: In general, the value of the entire cryptocurrency market has been on a free fall since last year, with nearly 50% of the total market capitalization wiped off since it peaked above $3 billion. 

Many investors see the market crash as an opportunity to increase their crypto holdings by buying cryptocurrency assets from exchanges and transferring them to their external wallets, in anticipation of the bull season. 

 

“Rich Dad Poor Dad” Author, Robert Kiyosaki: ‘Fed Is Destroying Dollar, Save In Bitcoin”

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“Central Bank Is Destroying Dollar, Buy Bitcoin,” Says Author of “Rich Dad Poor Dad.”



The famous writer of the book “Rich Dad Poor Dad,” Robert Kiyosaki, said the central bank of the United States (Fed) is destroying the Dollar’s purchasing power, so people should buy Bitcoin.

With his best-selling book that theme is to get free financially, Robert Kiyosaki has always been an enthusiast of financial freedom. More recently, he has frequently defended Bitcoin, which, alongside other assets, can be one of the alternative stores of value.

After the worldwide lockdowns due to the corona crisis, in the past two years, central banks worldwide have printed a lot of money so, and the fear of fiat money devaluation and collapse has been frequent talk among critics.

The US Federal Reserve, the Fed, printed most of its currencies during the crisis over the past two years. This situation is loured by those who advocate more secure financial control of money and a scarcity of currency.

Thus, several theorists and investors have theories that hyperinflation could take over the world and drive people into poverty. One of them is Robert Kiyosaki, author of “Rich Dad Poor Dad.”

According to Kiyosaki, the Fed and the US Treasury are destroying the US Dollar, the main currency for global transactions. He believes that those who save this currency are heading towards “financial hell.”

However, according to a proverb he shared on his Twitter, to get to “financial paradise,” there are 1 million paths. He believes that those who save their resources in Bitcoin, gold, and silver will be much safer.

“There are a million paths to financial heaven and a billion paths to financial hell.”Fed and Treasury are destroying the dollar sending billions of $ savers & uninformed to financial Hell. Go to financial heaven. Save gold, silver, & Bitcoin.”

As Bitcoin is a decentralized currency with no government or entity that cannot control it, it is restricted to 21 million units.

With this scarcity, many who study Bitcoin see it as a natural hedge against fiat currency inflation, issued by governments and printed whenever they want.

Thus, it is important to study the fundamentals of Bitcoin’s monetary policy, as stated by Robert, which can be an essential instrument of protection against inflation caused by governments.

BabyDoge Included in Top 10 Binance Smart Chain Projects

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Baby DogeCoin (BabyDoge) reached another milestone as it is listed as top 10 Binance Smart Chain (BSC) projects in 2022 by CoinMarketCap (CMC).


 

The top 10 list is prepared after reviewing thousands of projects and tokens already deployed on the BSC.

The list recently released by CMC also includes Binance Coin (BNB), PancakeSwap (CAKE), Chainlink (LINK), Venus (XVS), Swipe (SXP), Tranchess (CHESS), CryptoBlades (SKILL), MOBOX (MBOX), and BSCPad (BSCPAD).

It seems surprising that BabyDoge, a meme coin, made it to the list. This article will try to explain a few reasons that might have forced CMC to include BabyDoge into their top 10 Binance Smart Chain projects list for 2022.

  1. Trending on Twitter:

Since the start of the New Year 2022, BabyDoge seems to gain massive popularity – especially the fans of meme coins are happy to engage with the token.

BabyDoge is also maintaining its trending streak on Twitter. As a result, the number of followers for the official Twitter handle of BabyDoge seems to increase at a rapid pace.

Since the last report published by TheCryptoBasic, the number of followers for the token jumped from 907.2K to 914.2K in just 24 hours.

  1. Over 1.3 Million Holders:

Additionally, BscScan data reveals that BabyDoge has recently achieved an astonishing 1.3M holder’s milestone. To be precise, 1,368,233 accounts are holding BabyDoge at the moment.

  1. BNB Whales’ Craving:

At the same time, WhaleStats is reporting that the top 1000 BNB wallets are holding 937,343,883,700,593 of Baby Doge Coins, worth $3,970,173.

  1. Hyper-Deflationary:

Being a hyper-deflationary meme coin, BabyDoge is also performing massive burns from time to time.

On Tuesday, the official Twitter handle of BabyDoge revealed that 4.8 Quadrillion tokens worth $20 million had been burned, reducing the total supply in circulation from 164 Quadrillion to 159.278 Quadrillion tokens, as per the data provided by CoinGecko.

Formerly on January 2, Baby DogeCoin had confirmed the transaction of 5 Quadrillion Baby Doge Coins estimated at $11.50M to the burn wallet.

From the above data, one can easily conclude that Baby DogeCoin is the most popular meme-coin on Binance Smart Chain and the most widely distributed asset on BSC.

Shiba Inu (SHIB) The Dogecoin Killer Now Powers Welly’s The Clown Killer

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Finally, the Shib Secret has been Unveiled.



Shiba Inu (SHIB) took its first bold step into “in-real-life” products by unveiling its first deep-rooted partnership with Welly’s, a new hyper-quality agile blockchain-based fast-food chain located in Naples, Italy, opened in 2021.

Welly’s will be the first and only SHIB themed restaurant powered by the community, and for the first time, the “burger joint” will bring food on the blockchain using Shibarium.

Welly’s is said to be the competitor of Mcdonald’s, or you can say “the Clown Killer.”

On January 28, the official Twitter handle of Shib shared a 16 seconds teaser for its upcoming friendship with the caption:

“Attention Shib Army…Something is cooking… Will you be ready?”

The video has a chicken clucking sound in the background.

The pseudonymous developer of Shiba Inu (SHIB), Shytoshi Kusama, shared further details about the new partnership via his official medium post.

Looking into the details, we found that Shytoshi Kusama doesn’t want to partner with the vast centralized conglomerates like McDonald’s, Burger King, etc. for two main reasons:

First, Wellys want to provide vegetarian and healthy food options. Second Kusama was not in favor of partnering with the enormous centralized conglomerates is the agility of the brand. He was looking for a powerful team of restaurateurs eager to entirely rebrand their organization to fit Shib’s ethos and technology stack.

The medium post reads as:

“Welly’s is a “burger joint,” but we understand the importance of having vegetarian, vegan, and “healthy” fast food options. Upon opening our flagship store, we will introduce more options to cater to these needs.

Moreover, on agility, within one week, upon the partnership being put into place, Welly’s was able to complete a full rebrand of their store, including the mascot, creating new eco-friendly packaging, and taking suggestions from yours truly about marketing, menu, and strategy.”

Shytoshi Kusama further showed his special love for Indian Market and explained the meaning of the “Chicken clucking sound” heard in the teaser.

“For instance, because we love our India market so much, we shifted some of our visual communications from being beef centric to chicken centric (cluck in the video!) to compensate for the religious practices of one of our largest markets. “

He further noted in his medium post:

“Shib is now part of a brand that listens, cares, and is agile enough to truly cater to the Shib holders.”

Shytoshi Kusama considers Welly’s “the perfect fit” to scale globally, as it is now powered by Shib, with proven high-quality food and excellent backend practices.

He further noted that Welly’s team is already discussing releasing a few new stores in the coming 1 to 2 years to compete with different chains.

The medium post reads as:

“Already, the team is in discussions to release multiple stores in 2022 and 2023 so that we can scale to compete with aforementioned chains. This is the key to winning in this market; we blitz with a quality product, great service, and new technologies so that the media cannot ignore our offering. Finally, since we’re working with expert and well-connected global entrepreneurs, we can assure a long-term play in this industry.”

Shib Burn Along With Shib Payment: Kusama also informed that Shiba is a method of payment in the store, but shib is also burnt through shibarium transactions, and burn transactions will be revealed. 

“You want a burning utility, here is only one of many to come. Big companies won’t help us burn.”

The leading developer of SHIB mentioned that Shiba Inu, Leash, Bone, and Shibarium would all be integrated within Welly’s business model. By doing this, Shib Community will be able to deploy new stores through making choices in the Doggy Dao, buying NFTs for exclusive benefits, or just enjoying good food and sharing their vision with those who still think Shib is just a meme.

Shytoshi Kusama said this announcement is just an appetizer for Shib holders; more reports are coming soon.

Has SEC Gone Too Far In Cracking Down Against Ripple (XRP)

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The outcome of SEC Lawsuit Against Ripple Could Determine How Cryptocurrencies Will Be Classed.



There has been a major argument in the United States about which cryptocurrency should be classed as a security.  

Crypto enthusiasts have called on the U.S. Securities and Exchange Commission to establish guidelines that would help determine which cryptocurrency falls under its regulatory purview. 

In 2017, the SEC heeded these calls and issued its guidelines for this purpose. 

However, crypto-related companies believe the guidance was insufficient to help industry players determine which coin or token is a security. 

Ripple’s Legal Battle With SEC

Since the guidance was issued, thousands of cryptocurrencies have launched, with the SEC slamming charges on 56 cryptocurrency projects so far because they conducted unregistered securities sales.  

Most cryptocurrency projects opted for settlements and never considered going to court. Famous cryptocurrency firm Ripple is among the projects charged by the SEC for raising $1.4 billion via the sale of its native coin XRP. 

Unlike other charged crypto projects, Ripple refused to settle with the regulators, as the company is determined to continue its lengthy legal battle with the SEC, proving that XRP does not fall under the oversight of the securities regulators.   

Ripple has reiterated that XRP is a currency like bitcoin and ethereum and not a security as stated by the SEC. However, the Securities and Exchange Commission thinks otherwise. 

Crypto Community Anticipating the Lawsuit Outcome 

The lawsuit filed against Ripple, which is expected to end by next year, could go a long way to determining how over 10,000 cryptocurrencies should be classed. 

At the moment, the entire crypto community is observing how things will play out to know what decision to make. 

“Either way, we are going to have an opinion that would be used by other players in the space to inform how they act and decisions that they make,” Katherine Dowling, general counsel at Bitwise Asset Management, said.

A win for the SEC could back regulators’ commitment to impose stricter regulations in a bid to protect investors. At the same time, a loss would see several crypto enthusiasts demand that congress develop a holistic legal framework for the U.S. crypto industry.

Ripple Push 

Ripple has already made significant efforts lobbying Congress so that other federal agencies like the Commodities Futures Trading Commission (CFTC) can have a bigger stake in crypto regulation. 

According to a Wall Street Journal (WSJ) report, Ripple splashed $1.1 million on lobbying last year, with part of the funds spent on backing legislation that could see crypto firms decide whether they want their projects to be overseen by CFTC.

Ripple believes they are clear, and the SEC has no jurisdiction to declare Ripple security.

“We believe the record is clear that XRP is not a security and that the SEC does not have jurisdiction over this matter,” Martin Flumenbaum, an attorney at Paul, Weiss, Rifkind, Wharton & Garrison LLP, who represents Mr. Larsen, told Wall Street Journal.

“Trying to squeeze digital assets, which are more akin to commodities than securities, into a securities regulatory framework simply doesn’t work,” said Stu Alderoty, Ripple’s general counsel. “All roads don’t lead to the SEC because the SEC doesn’t have a rational regulatory framework.”