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Tron Founder, Justin Sun Received $110M From Binance, Again Raising Question, Is He Selling His Ethereum Holdings?

Mark Brennan
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Tron Founder, Justin Sun Received $110M From Binance, Again Raising Question, Is He Selling His Ethereum Holdings?

Tron Founder Justin Sun is acting like a crypto whale.



On DEC 29th, there were reports that Sun is depositing a large sum of Ethereum on Binance. According to data, Tron’s CEO has frequently deposited ETH into Binance throughout December 2021, with a total deposit of approximately 165,989 ETH worth almost $592 million.

 

That is a huge amount of Ethereum, Question was why Sun is depositing such an amount to the exchange?

Justin Sun came out to demolish all assumptions and disclosed what was the purpose of sending $592M worth of ETH to Binance, saying the transactions were from internal deployment wallets and not for any profit.

“Recently, the internal deployment of wallets has attracted market attention. We continue to be optimistic about the market outlook, and there is no situation that everyone has guessed. Regardless of Ethereum, TRON, and the entire blockchain industry, we are highly optimistic and will continue to build, and everyone will receive more heavy news next!”

 

Today Wu Blockchain shared some new intriguing insights, disclosing that on Dec 30 and 31, Justin sun received a sum of $110M. He received 50M USDC and $60M in USDT.

$50M USDC was then transferred to the official circle account. The transactions can be seen on:

https://debank.com/profile/0x3ddfa8ec3052539b6c9549f12cea2c295cff5296/history

That $110M received from Binance again raises the question, is he selling his Ethereum holdings on Binance?. He transferred $592M worth of ETH on Binance and in two days received $110M in total, which looks like some profit booking from the Ex Tron CEO.

Recently Sun announced that he is stepping down as TRON CEO because he is preparing is to serve the government of Grenada as its new full-time ambassador to the World Trade Organization.

 

 

SafeMoon (SFM) Winded Down Support for V1; Focuses on V2 to Evolve SFM Ecosystem

Zabi
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SafeMoon (SFM) Winded Down Support for V1; Focuses on V2 to Evolve SFM Ecosystem

SafeMoon (SFM) is switching to version 2 (V2).


 

Safemoon , decentralized finance (DeFi) token, officially winded down the support for V1, and the V1 tax will change to 100%. The tax increase will remove incentives to continue holding Safemoon V1.

The announcement is made by Safemoon 2.0 official Twitter handle via tweet:

The announcement comes after the team behind Safemoon (SFM) decided to shift its full focus to V2 to evolve the SAFEMOON ecosystem.

The Safemoon’s team assured its holders that nobody will be left behind as migration from V1 to V2 will remain open indefinitely. Safemoon (SFM) also released a warning message to its followers saying:

“It is highly advised that you do not buy Safemoon V1 as you will not receive any tokens following this change.”

According to the reports, exchanges where SFM is listed, they are responsible to upgrade safemoon and implement its V2.

Formerly on December 12, Safemoon declared the migration of its old contract to a new contract address via tweet.

2.95 Billion Shiba Inu Burn Incoming, Worth $100,000. Along With A Fitness App With Auto SHIB Burn Feature

Mark Brennan
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2.95 Billion Shiba Inu Burn Incoming, Worth $100,000. Along With A Fitness App With Auto SHIB Burn Feature

Steven Cooper said his company is going to burn $100,000 of SHIB tokens.



Steven Cooper, owner of Bigger Entertainment is very active in socializing with ShibArmy. He is doing a great job in burning SHIB coins and decreasing their supply.

Burning is a process where tokens are permanently removed from the circulating supply. As the supply of coins decreases, because of demand, eventually, the price goes high.

Steven Cooper announced that his company is planning to burn $100,000 worth of Shiba Inu, almost 2.95 Billion tokens.

“Together, we’re going to burn $100,000 in #shib while simultaneously building the ultimate crypto music game. We know this campaign isn’t for everyone, but for the community that trusts & believes in what we’re building, this is for you!”

 

Bigger Entertainment is launching a blockchain game, ‘MixDraft’. Bigger entertainment will raise funds for their game in the form of selling postcards for $6. $1 from the sale of every postcard will be used to burn Shib tokens. The team hopes that they will reach a target of $100,000 in SHIB burning, which is 2.95 billion SHIB coins. The remaining $5 from the postcards will be used for game development and its marketing.

The company is also bringing a fitness app that will burn SHIB tokens as users will burn calories. The idea of the ‘Steps’ app was first introduced by ‘Ask The Doctor’, but as ‘Ask The Doctor’ from nowhere turned against SHIB and called it a scam, Cooper came forward to announce that instead of the Canadian health company they are going to launch the fitness app that will auto burn SHIB.

 

Last week Bigger Entertainment burned 239 Million SHIB tokens as a Christmas party.

 

 

10 Predictions Regarding Crypto Market For 2022 From Coinbase CPO

Mark Brennan
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10 Predictions Regarding Crypto Market For 2022 From Coinbase CPO

Surojit Chatterjee, Chief Product Officer (CPO) of Coinbase gave 10 predictions regarding the crypto market for 2022.



2021 was a great year for the crypto market. BTC price gained 70% YoY, total market locked in defi crossed $150B. NFT emerged as a new category and took the market by storm where top companies like Ferrari, Visa all joined NFTs and Metaverse.

Let’s look at the 10 predictions for 2022 from Coinbase, Chief Product Officer, Surojit Chatterjee.

1: Eth scalability will improve, but newer L1 chains will see substantial growth

As millions of new users will join crypto and web3, scalability challenges for Eth are likely to grow. But Coinbase CPO is optimistic about improvements in Eth scalability with the emergence of Eth2 and many L2 rollups. He is also confident about Solana, Avalanche, and other L1 chains. Also, there will be newer L1 chains emerging with a focus on specific use cases such as gaming or social media.

2: There will be significant usability improvements in L1-L2 bridges

According to Chatterjee, As more L1 networks gain traction and L2s become bigger, the Crypto industry will desperately seek improvements in the speed and usability of cross-L1 and L1-L2 bridges. There will be interesting developments in the usability of bridges in the coming year.

3: Zero-knowledge proof technology will get increased traction

As L1 chains get clogged with increased usage, ZK-rollup technology will attract both investor and user attention. There will be a new privacy-centric use case emerging, including privacy-safe applications, and gaming models that have privacy built into the core. This may also bring in more regulatory attention to crypto as KYC/AML could be a real challenge in privacy-centric networks.

4: Regulated Defi and the emergence of on-chain KYC attestation —

Many Defi protocols will embrace regulation and will create separate KYC user pools. Decentralized identity and on-chain KYC attestation services will play key roles in connecting users’ real identity with Defi wallet endpoints. There will be more acceptance of ENS type addresses, and new systems from cross-chain name resolution will emerge.

5: Institutions will play a much bigger role in Defi participation

Institutions are increasingly interested in participating in Defi. Institutions are attracted to higher than average interest-based returns. However, they are still hesitant to participate in Defi. Institutions want to confirm that they are only transacting with known counterparties that have completed a KYC process. The growth of regulated Defi and on-chain KYC attestation will help institutions gain confidence in Defi.

6: Defi insurance will emerge

As Defi proliferates, it also becomes the target of security hacks. According to London-based firm Elliptic, the total value lost by Defi exploits in 2021 totaled over $10B. To protect users from hacks, viable insurance protocols guaranteeing users’ funds against security breaches will emerge in 2022.

7: NFT Based Communities will give material competition to Web 2.0 social networks

NFTs will become the next evolution of users’ digital identity and passport to the metaverse. Users will come together in small and diverse communities based on the types of NFTs they own. User-created metaverses will be the future of social networks and will start threatening the advertising-driven centralized versions of social networks of today.

 

8: Brands will start actively participating in the metaverse and NFTs

Many brands are realizing that NFTs are great vehicles for brand marketing and establishing brand loyalty. Coca-Cola, Campbell’s, Dolce & Gabbana, Visa, and Charmin released NFT collectibles in 2021. Adidas recently launched a new metaverse project with Bored Ape Yacht Club. There will be more interesting brand marketing initiatives using NFTs just like Instagram.

9: Web2 companies will wake up and will try to get into Web3

Facebook is already trying to recast itself as a Web3 company. So there will be other big Web2 companies dipping their toes into Web3 and metaverse in 2022. However, many of them are likely to create centralized and closed network versions of the metaverse.

10: Time for DAO 2.0

DAOs will become more mature and mainstream. More people will join DAOs. DAOs will also confront new challenges in terms of figuring out how to do M&A, run payroll and benefits, and coordinate activities in larger and larger organizations. Regulators will take more interest in DAOs and make an attempt to educate themselves on how DAOs work.

MicroStrategy Goes Shopping Again, Ends 2021 Buying Additional 1,914 BTC For $94.2M

Jakkk
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MicroStrategy Goes Shopping Again, Ends 2021 Buying Additional 1,914 BTC For $94.2M

MicroStrategy acquired an additional 1,914 Bitcoin for about $94.2 million.



Today MicroStrategy CEO, Michael Saylor announced that his company bought an additional 1,914 BTC at an average price of $49229. In total, the Company holds 124,391 BTC acquired for $3.75 billion with an average price of $30,159/BTC.

 

 

MicroStrategy was the first publicly-traded company to invest part of its equity capital in digital gold. The company first acquired 21,454 BTC in Aug 2020.

MicroStrategy continued to build up its Bitcoin reserves in line with the strategy approved by the board of directors. Since December 2020, the company began to use not only equity capital, but also debt financing to buy bitcoin.

In February 2021, MicroStrategy issued a new tranche for more than $1 billion and invested the funds in BTC.

Throughout the year, the firm continued to invest in bitcoin. The largest purchases were 13,005 BTC for $489 million in July and 7,002 BTC for $414.4 million at the end of November.

In early December, MicroStrategy announced the acquisition of 1,434 BTC for about $82.4 million.

Recall that Michael Saylor personally owns approximately 17,732 BTC ($842 million). The head of the company said that he never sold a single satoshi ever. MicroStrategy CEO is also Considering To Enter Crypto Lending Market

Polygon Admits The Network Was Hacked, Hacker Swiped 801,601 MATIC Tokens

Mark Brennan
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Polygon Admits The Network Was Hacked, Hacker Swiped 801,601 MATIC Tokens

Polygon (MATIC) explained what caused the network to undergo a surprise update in recent days.



Polygon Admits The Network Was Hacked, Hacker Swiped 801,601 MATIC Tokens

Matic caught the community’s attention in 2021, recording a 13670% increase in the year. MATIC occupies the 14th position in the top 20.

In recent days, Polygon surprised its users by making a hard fork from nowhere. In the early hours of December 5, 2021, when Polygon’s team suddenly released an unannounced update. This fact led the community to question what motivated this sudden upgrade.

After almost a month, Today Polygon came out to explain what happened on their network. A group of whitehat hackers notified Polygon of a vulnerability in the Polygon PoS genesis contract on Dec. 3.

According to Polygon,

“A group of whitehat hackers notified Immunefi, which hosts our bug bounty, of a vulnerability in the Polygon PoS genesis contract on Dec. 3.”

As of December 4th, the Polygon team, White hackers, and Immunefi worked hard to fix the vulnerability and started preparation to bring the necessary update on the core network.

“The Polygon core team engaged with the group and Immunefi’s expert team and immediately introduced a fix. The validator and full node communities were notified, and they rallied behind the core devs to upgrade 80% of the network within 24 hours without stoppage.”

A malicious hacker was quick to notice the movement in the network, On Dec. 4 the vulnerability was used to steal 801,601 MATIC tokens.

“Despite our best efforts, a malicious hacker was able to use the exploit to steal 801,601 MATIC before the network upgrade took effect.”

On Dec. 4, The Polygon team informs Validators of an “Emergency Bor Upgrade for Mainnet”. On Dec. 5, the Mainnet update was complete for +90% validators at Block #22156660.

Polygon team said that they paid a total of about $3.46 million as bounty to two white hats who helped discover the bug. The team also confirmed that the foundation will bear the cost of the theft.

The team hopes that their efforts will make the network more defensive and any such incidents will not occur again.

Safemoon Inu: A Newly Born Shiba Inu Competitor, Community-Driven Meme And Gaming Token

Mark Brennan
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Safemoon Inu: A Newly Born Shiba Inu Competitor, Community-Driven Meme And Gaming Token

Safemoon Inu is a community-driven meme and gaming token.



Safemoon Inu features a system that distributes 2% of every transaction to holders. This approach incentivizes all holders and rewards those that stay on board. As a smart ERC20 token, SMI became an official Enjin Adopter project in October 2021 with their very first game, Moonshot Voyage. With SMI Play, its up-and-coming, play-to-earn metaverse gaming platform that is inclusive of in-game NFTS, SMI offers further attractive rewards for its token holders.

SMI Token Overview

Total Supply: 1,000,000,000,000

Transaction Tax: 4%

Market Cap: 16,305,167.08 USDT

Launch Date: May 2021

Coinstore.com Listing: 30 December 2021

What is the Token Utility of SMI?

Being a smart ERC20 token, SMI has compelling case-uses such as:

  1. Retaining a higher chance of receiving rare NFTs with games on the SMI Play platform.
  2. Acquiring larger opportunities to get the rarest NFTs with the more SMI you own.
  3. Additional in-game benefits in all SMI Play games.

At the time of writing, one SMI token is valued around $0.000016 USDT, with a 24-hour trading volume of $621,661 USD. Taking into consideration the growing significance of the Metaverse and NFTs, SMI is expected to expand even further and achieve widespread traction.

A Closer Look at SMI’s Tokenomics

SMI has a total token supply of 1,000,000,000,000 with a transaction tax of 4%. More details of SMI’s tokenomics are as such:

  • 2% tokens redistributed to all holders pro-rata on every transaction
  • Liquidity are locked in for 6 years, preventing rug pool

For every transaction using SMI Play games Token Items includes a 4% fee that goes straight into the community development wallet.

 

SMI’s Roadmap

Being a token that allows users to earn cryptocurrency via the play-to-earn model, SMI has mapped our several thrilling projects in their roadmap. Here is a look at some of the major plans they have set out to accomplish:

  1. To launch the beta version of Moonshot Voyage, SMI’s first SMI Play game, by the end of December 2021
  2. To launch the early access of Moonshot Voyage by 2022
  3. To establish the SMI Play Metaverse app by 2022

Users who are interested in trading SMI can check out Coinstore.com from 30th December 2021 onwards.

Bitcoin Critic, Peter Schiff: ‘Bitcoin Has Lost Ground To Altcoins’ His Son: ‘My Dad Enjoys Trolling people on Twitter’

Albert Brown
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Bitcoin Critic, Peter Schiff: ‘Bitcoin Has Lost Ground To Altcoins’ His Son: ‘My Dad Enjoys Trolling people on Twitter’

Peter Schiff, the chief economist at Euro Pacific Capital, again criticized Bitcoin on Tuesday, saying that the world’s largest cryptocurrency is losing ground to altcoins.



Bitcoin dominance, which was once 100%, obviously because it was the first digital currency ever created, is now around 38.2% according to CoinGecko data. The BTC has already seen lower numbers in 2018 with dominance reaching as low as 32%.

Anyway, Bitcoin had a great year in 2021 approaching an all-time high of $70,000 in November.

Peter Schiff criticizes Bitcoin and compares it with altcoins. Peter Schiff is known for hating Bitcoin and loving Gold, the latter an asset set aside during 2021 due to the popularity of the BTC, making people and companies sell Gold for digital gold.

In his most recent attack, Schiff claims that Bitcoin is losing the advantage of being the first cryptocurrency, given the number of altcoins present in the market today.

He said:

“With over 16,000 alternative cryptos to choose from Bitcoin’s market dominance is now below 40% for the first time since June of 2018. With an unlimited supply of easily created cryptos with virtually identical properties, Bitcoin is losing its first-mover competitive advantage.”

 

Bitcoin was the first cryptocurrency to be created. Remained at zero price for a long time, with no trades, no transactions, the birth of Bitcoin is like a flower on a rock. Once BTC got fame, altcoins took advantage of BTC’s reputation and made many developers and holders rich but Bitcoin remains an absolute leader in the market, with its main former competitors being Litecoin (LTC) at 19th in today’s market cap and Bitcoin Cash (BCH) at 25th. In other words, the BTC is more sovereign than ever.

Now looking at other projects closer to market caps, such as Ethereum (ETH) and Binance Coin (BNB), these cryptocurrencies serve entirely different purposes, as Peter Schiff’s son Spencer explains in response to his father.

“Bitcoin doesn’t compete with these coins; it’s in a completely separate category. Many altcoins even admit it.”

In other words, Ethereum, Binance coin, Solana, Cardano, Polkadot are focused on smart contracts, on becoming global supercomputers to run decentralized applications, storing NFTs, for example.

Bitcoin’s purpose is to become digital gold, a payment method, a scarce currency that solves the problems, such as inflation, caused by state-controlled currencies.

Spencer also said:

My dad definitely enjoys trolling people on Twitter (he doesn’t believe that anything he says is stupid though)

 

Shiba Inu Confirms Shibarium Will Use BONE As The Native Gas Toke, Hint At Mega Surprise Waiting for SHIBArmy

Mark Brennan
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Shiba Inu Confirms Shibarium Will Use BONE As The Native Gas Toke, Hint At Mega Surprise Waiting for SHIBArmy

Shiba Inu confirms BONE will be used as a gas token on SHIB layer 2 ‘Shibarium’.



The #ShibAMA Twitter space hosted by David Gokhshtein was attended by more than 11,000 Shib lovers. In this AMA all future developments about SHIB were discussed.  Speaker Queenie, a moderator of the official Shiba Inu Discord channel answered all questions she was asked.

While answering a question related to Shibarium layer-2 solution, Queenie confirmed that BONE will be used as the native gas token on the upcoming Shibarium blockchain.

“BONE will be used as the native gas token in the Shibarium layer-2 blockchain,”

She confirmed that users will not lose any SHIB coins and BONE will be used as a purely gas token.

“It’s purely just that the gas token you’ll be paying is BONE. So you’re not losing any SHIB along the way. You will still be able to use Leash and Bone and get all your liquidity sorted,”

The SHIB official Twitter confirmed tweeting:

 

When questioned that what will be the release date of Shibarium’s she answered it will be released as soon as possible. She also hinted at some kind of a big surprise that is waiting for substantial SHIBArmy as they enter 2022. However, she didn’t mention any details of what the surprise would be. She also stated that Bone will not be minted completely until 2024 and ShibaSwap 2.0 will hold a balance on it.

 

In her final notes, Queenie appreciated the SHIB community and expressed her passion for SHIB and its layer 2, Shibarium.

“I appreciate everybody. All of the support from the community. I’m just really excited for 2022. I can’t express how optimistic and passionate I am about this project. It’s just something else. Something to look forward to.”

Rumors About Shiba Inu (SHIB) Robinhood Listing Revived With This Interesting Finding

Zabi
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Rumors About Shiba Inu (SHIB) Robinhood Listing Revived With This Interesting Finding

Every Shiba Inu (SHIB) holder with the same question in mind: Will Robinhood list Shiba Inu (SHIB) token on its platform. If yes, When?



Milkshake, an official Shiba Inu (SHIB) community member with 224K followers has found something interesting and disclosed it to its followers via a tweet on Thursday about Robinhood App.

She said that most of the Robinhood App users reported that “Crypto Gift” appears when they type the word Shiba into the platform. She also noted the fact that it is not the case for any other token.

If that is true and not any technical error, she believes Shiba Inu (SHIB) community could soon hear good news from the Robinhood App team in the form of listing acknowledgment.

She writes:

“Interesting find: Many RobinhoodApp users report that “Crypto Gift” appears when you type the word Shiba into the platform. It does not appear to be the case for other tokens. Could we see a soon $SHIB listing acknowledgment from them? How fun.”

She also shared a screenshot from Robinhood App.

A user posted a video confirming the scenario, when typing SHIB in Robinhood the option of ‘Crypto Gifts” appear. which is not the case with any other crypto.

 

Shytoshi Kusama also retweeted Milkshake’s tweet.

Robinhood has begun beta testing of its wallet. We have already given our analysis that Robinhood will only launch SHIB, once its wallets go live. TheCryptoBasic previously reported that insider information confirms that the Robinhood team loved the SHIB community’s excitement for RH listing on social media, particularly from petitions. The source confirmed that there is a “strong possibility” that Robinhood will list Shiba Inu in January 2022 or the first quarter.

 

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