crypto / 28 posts found
Blur’s Token is Live: Here’s Everything You Need to Know
$BLUR is finally here. After delaying the launch of the platform’s native token in January, the NFT marketplace officially began letting users redeem care packages for the token at 1:30 p.m. ET on February 14, 2023. The run-up to the launch has been marked by much anticipation, with popular exchange Coinbase tweeting that it would list the token if liquidity conditions are met and Blur’s trading volume surging in the last month, cementing its spot as one of the top ten NFT marketplaces in existence. How did Blur manage to do all of this in such a short time? And […]
Is Bitcoin a Religion? A Scholar of Religion Explains
Read enough about Bitcoin, and you’ll inevitably come across people who refer to the cryptocurrency as a religion. Bloomberg’s Lorcan Roche Kelly called Bitcoin “the first true religion of the 21st century.” Bitcoin promoter Hass McCook has taken to calling himself “The Friar” and wrote a series of Medium pieces comparing Bitcoin to a religion. There is a Church of Bitcoin, founded in 2017, that explicitly calls legendary Bitcoin creator Satoshi Nakamoto its “prophet.” In Austin, Texas, there are billboards with slogans like “Crypto Is Real” that weirdly mirror the ubiquitous billboards about Jesus found on Texas highways. Like many […]
DOJ Accuses Bitzlato Crypto Exchange of Money Laundering, Arrests Founder
The Alpha: The U.S. Department of Justice (DOJ) just announced an “international cryptocurrency enforcement action,” according to a live broadcast on the DOJ’s website. Deputy Attorney General Lisa O. Monaco announced that the DOJ arrested Hong Kong-registered crypto exchange Bitzlato founder and majority stakeholder Anatoly Legkodymov in Miami last night, according to a press release. Legkodymov, a Russian national who resides in Shenzhen, People’s Republic of China, has been accused of enabling more than $700 million of crypto transactions with Hydra, the world’s largest darknet market. The announcement has the crypto market concerned, with Bitcoin and Ethereum dipping sharply in the […]
Blockchain 51% Attacks: What to Know to Stay Safe
While undoubtedly complex and necessary for the world of crypto and NFTs, the ideas that underpin and connect to blockchain technology are relatively simple to understand. One of its most important concepts is the so-called “51 percent attack:” an almost unrivaled threat to decentralized technology (and the crypto industry it supports). To understand what that is and its potential wide-reaching implications for Web3, we need to look at the fundamentals of the blockchain itself. The blockchain is a distributed digital database that moves and tracks data in blocks that link together to form a chain-like record of information flow. The […]
Behind the Crypto Hype Is a Mentality of Extreme Social Change
Ads for blockchain, NFTs and cryptocurrencies like Bitcoin seem to be everywhere. Crypto technologies are being promoted as a replacement for banks; a new way to buy art; the next big investment opportunity, and an essential part of the metaverse. To many, these technologies are confusing or risky. But enthusiasts ardently promote them. As a cybersecurity and social media researcher, I’ve found that behind the hype is an ideology about social change: Hardcore enthusiasts argue that crypto will get people to trust in technology rather than government, which they see as inherently untrustworthy. This ideology leads people to encourage its […]
FTX Changed Crypto Regulation. Here’s What 2023 Has in Store
There was a time in 2022 when it looked like the Securities and Exchange Commission (SEC) might pull back from its shoot-first-ask-questions-later approach to crypto regulation. After months of aggressively pursuing and investigating crypto exchanges for allegedly breaching existing securities law in the U.S. at the behest of crypto-critic and SEC Chair Gary Gensler, at least one of the regulatory body’s commissioners expressed discontent with how Gensler was wielding the organization’s mandate. While speaking to nft now in the summer of 2022, SEC Commissioner Hester Peirce made clear her view that the body should be working with crypto exchanges collaboratively […]
Seedphrase on the Malleable Nature of Web3 Identity
If you had gotten into crypto earlier, you’d probably be a millionaire by now. At least, that’s the common sentiment shared by those who missed the boat on the 2013 and/or 2017 Bitcoin booms. Hindsight is almost always 20/20, but we cannot change what has happened in the past. Rather, we can only use our experience to prepare for and build for our own future. This is precisely the attitude of Daniel Maegaard, better known in the NFT space as the influential collector and investor Seedphrase. Having made a small fortune by investing in Bitcoin and altcoins nearly a decade […]
ApeCoin Staking Is Live: Here’s Everything You Need to Know
It’s official, ApeCoin staking is live, and as of December 12, the first $APE rewards have accrued. But whether you’re an early Bored Ape holder that claimed every subsequent Yuga Labs airdrop, or an NFT enthusiast who only recently purchased their first bit of $APE, staking can seem like a daunting task. A process that has long been a facet of the crypto industry, if done right, staking has the potential to be a significant win for token holders. But if mishandled, it can have catastrophic consequences. With so much misinformation being circulated throughout the metaverse, it’s become more important […]
The Block CEO Resigns Amid Sam Bankman-Fried Loan Scandal
The Alpha: Michael McCaffrey, the former CEO of the crypto news publisher The Block, resigned today after it came to light that he failed to disclose a series of loans obtained from Alameda Research, the trading arm of Sam Bankman-Fried’s FTX, to restructure and provide capital to the publication in early 2021, according to a statement released on the company’s blog. McCaffrey has also resigned from the company’s board. The three loans, which totaled $43 million and reportedly included a $16 million payout to fund the purchase of an apartment in the Bahamas for the outgoing CEO, have called the […]
The Fall of FTX Has Revealed Web3’s True Colors
For many, the crypto world feels like it’s in shambles. The high drama between rival exchanges Binance and FTX has set the stage on which it played out fully ablaze. Over the last few days, repeated revelations have wiped out billions in funds, sent the Web3 community reeling, and irrevocably altered the future of crypto and NFTs. It was the last thing the space needed. The dramatic fall from grace came during a community-wide effort to push back against OpenSea’s recent announcement that it would likely stop enforcing creator royalties for existing collections as of December 8. On top of […]