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Jeff Zeller has been named by CryptoCom NFT as its Senior Director of NFT Partnerships and Business Operations, a PR from the exchange said on Wednesday. Zeller previously occupied senior positions at Sony Music and Apple and was the director of Entertainment Partnerships and Marketing at ESPN before joining the crypto firm.

New CryptoCom NFT Senior Director

The announcement shared with CryptoPotato informed about the hiring of Zeller, who came directly from ESPN. The company said it works in line with other protocols from the non-fungible token industry, which tapped former sports and entertainment executives.

NFTs continue to attract massive attention from people outside of the crypto landscape, as shown by the purchases from the likes of Eminem and the digital collection releases from Melania Trump.

CryptoCom’s NFT platform has been the brainchild of another former music industry executive – Joe Conyers III. The cryptocurrency company has since worked with notable names like CryptoComNFT, Aston Martin, Formula1, UFC, and Snoop Dogg to launch digital artwork.

“Joining CryptoCom NFT for me is the convergence of my personal interests as well as my career experience, and I’m grateful to Conyers, Gilad Rodkin, Steve Kalifowitz, Chris Yang, and the rest of the organization for the opportunity.” – commented Zeller on his new position.

ADVERTISEMENTHow Will NFTs Boom?

With previous experience, including content property creation like Michael Jordan’s The Last Dance and 30 for 30, CryptoCom believes Zeller will bring the necessary background to take the firm’s NFT platform to another level.

Zeller will report directly to Conyers and will manage the launching and expanding of NFT programs with “key strategic partners,” informed the announcement.

Conyers, the head of CryptoCom NFT, expects non-fungible tokens to receive even broader adoption this year, after the impressive 2021.

“NFTs have presented creators a tremendous opportunity to better engage with fans across an array of industries but have been particularly successful in both the sports and entertainment arenas. As the technology continues to evolve and mature, so too will its uses – and Jeff’s experience in both industries is the perfect blend to help CryptoCom NFT expand our partnerships and take the platform to the next level.” – Conyers concluded.

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The digital asset exchange – CryptoCom – came up with an official statement regarding the latest attack on its platform. The company revealed that the incident affected nearly 500 people, but they were fully refunded.

The Saga Had a Happy End

In its most recent report, CryptoCom disclosed that it first found out about the issue in the early hours on Monday (January 17). The monitoring systems of the trading venue detected unauthorized activity on a small number of user accounts where transactions were approved without the necessary 2FA authentication, the announcement reads.

Consequently, the team suspended withdrawals of all tokens and initiated an investigation. As CryptoPotato reported a few days ago, the firm also addressed the community about the attack.

In the aftermath, CryptoCom announced that the perpetrators affected 483 users. Nonetheless, none of them experienced a loss of funds as the company either prevented the suspicious transactions or fully reimbursed the customers.

Subsequently, the company stated that the unauthorized withdrawals totaled 4,836.32 ETH, 443.93 BTC, and around $66,200 in other digital assets. Converted in US dollars, the total amount equals almost $34 million (calculated by today’s prices).

ADVERTISEMENTCryptoCom’s Security Policy

Shortly after identifying the issue, CryptoCom migrated to an entirely new Two-Factor Authentication (2FA) infrastructure. The company reminded that it has mandatory 2FA policies on both the frontend and backend to protect investors during such incidents.

Furthermore, CryptoCom introduced an additional layer of security on January 18, 2022, to add a 24-hour delay between registration of a new whitelisted withdrawal address and first withdrawals.

The platform’s team audited the entire process and connected with third-party security firms, which performed additional checks and initiated threat intelligence services. CryptoCom vowed to provide more security features once it moves to Multi-Factor Authentication (MFA).

Kris Marszalek – Co-Founder and CEO of the trading venue – maintained that the customers’ safety is the highest priority for his firm.

“While we are reminded of the existence of bad actors intent on committing fraud, this new Worldwide Account Protection Program, along with our new MFA infrastructure, gives our users unprecedented protection of their funds, and hopefully, peace of mind,” the executive asserted.

Other Crypto Attacks in the Recent Past

While the cryptocurrency market is an intriguing niche for many investors, those should also be aware of cyber-attacks and hackers who could breach their accounts and holdings.

In August 2021, the interoperability protocol PolyNetwork became a victim of such a bad actor, who drained more than $600 million worth of digital assets. The platform got exploited on Binance Smart Chain as the hacker swiped the funds from at least three wallets. The event became known as the biggest hack in the DeFi space.

However, a few days after the attack, the anonymous perpetrator transferred back most of the funds. He also rejected a $500,000 bounty offer saying he breached PolyNetwork’s security “for fun.”

Towards the end of 2021, Cream Finance – another DeFi protocol – also suffered a cyber-attack. The perpetrators managed to steal over $130 million worth of various cryptocurrencies. Interestingly, this was the third security breach for Cream Finance in 2021 alone.

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The users of cross-chain protocol lashed out over an unsolved security vulnerability that appeared earlier this week and the platform’s failure to act. Later on, though, Multichain revealed that one whitehat hacker returned 259 ETH, worth approximately $813,000.

The Multichain Exploit

It all started when Multichain announced the existence of a flaw that made several accounts vulnerable to malicious entities. The team behind the protocol urged its users to revoke approvals for six tokens – WETH, PERI, OMT, WBNB, MATIC, and AVAX, in order to protect their assets, an action that inevitably prompted hackers to rush in and exploit the vulnerability.

📢Update According to the tracking data, one whitehat hacker has returned 259 ETH (https://t.co/BvTwOQTsE1). At this moment, a total of 602.693538 ETH is exploited. We are trying to get more funds back.

— Multichain (Previously Anyswap) (@MultichainOrg) January 20, 2022

Three hackers siphoned off with around $1.9 million worth of Ether, according to Multichain. However, the Co-founder of ZenGo Tal Be’ery estimated that the total stolen amount has likely crossed $3 million.

One of the hackers swiped $1.43 million from users who failed to update their approvals. Another hacker offered to return 80% and kept the rest $150,000 as a tip. Seeing this, one of the victims, who reportedly lost $960,000 in the exploit, negotiated with the hacker by offering a reward of 50 ETH to the address in return for the funds.

ADVERTISEMENTThe Chaos

Users were left confused after Multichain, in a since-deleted tweet, said that “funds are safe” even when the exploit was underway. Several victims urged Multichain to compensate and even accused the scammers of trying to impersonate the firm to steal more user funds.

The bug was first reported by DeFi security company Dedaub, but Multichain had claimed to have fixed it.

Previously known as Anyswap, Multichain is essentially a cross-blockchain router protocol that enables users to swap and exchange digital tokens across chains. In doing so, it significantly slashes fees and streamlines the entire process. The company secured $60 million in a seed funding round led by Binance Labs in December.

The latest breach comes on the heels of CryptoCom admitting to an exploit where hackers stole more than $30 million on January 17th. Earlier CryptoCom announced suspending withdrawals after a slew of complaints from users who claimed that their funds had disappeared. But it wasn’t until Thursday that the company officially acknowledged the breach after being repeatedly accused of vague communication.

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El Salvador President Nayib Bukele has posted a photoshopped image of himself wearing a McDonald's uniform. His self-deprecating tweet went viral, collecting over 88,700 likes and plenty of reactions from prominent names. Dogecoin co-founder Billy Markus welcomed Bukele to the “McDonald's club.” This comes after a Twitter interaction between Markus and the fast-food behemoth prompted a flurry of requests to add DOGE as a payment option at McDonald’s.  

welcome to the McDonald’s family sir

— Shibetoshi Nakamoto (@BillyM2k) January 23, 2022

Cardano founder Charles Hoskinson quipped that the self-proclaimed “CEO of El Salvador” might be the “chosen one” because of strong his meme game is.     There has been a long-running joke about getting a job at the fast-food chain giant during market downturns. Strapped for cash, disillusioned cryptocurrency investors and traders have to come to terms with the grueling reality and become a service economy employee, working for up to 40 hours a week on minimum wage. Bukele came under severe criticism amid the brutal Bitcoin sell-off that took over the last few days.         El Salvador has now lost an estimated $20 million by investing in Bitcoin, with all of Bukele’s purchases being in deep red. Some started joking that the impoverished nation would soon become the first “fourth-world” country because of the president’s poorly timed buys.

Related$1 Million Bitcoin Price Bet Proposed by Mike Novogratz The world’s “coolest dictator” is not giving up on Bitcoin. On Jan. 22, he announced another purchase, snapping up 400 BTC for 15$ million. Bitcoin is currently trading close to $36,000 after plunging to $34,000 on Jan. 23. El Salvador adopted the largest cryptocurrency as an official currency last September.

#Bitcoin News#Dogecoin NewsAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Solana Updates to Version 1.8.14 Following Three Days of "Degraded Performance"01/23/2022 - 14:59Solana Updates to Version 1.8.14 Following Three Days of "Degraded Performance" Arman ShirinyanShiba Inu Comes Closer to Becoming Biggest Holding on Whale Addresses After 16% Price Increase01/23/2022 - 14:41Shiba Inu Comes Closer to Becoming Biggest Holding on Whale Addresses After 16% Price Increase Arman Shirinyan$1 Million Bitcoin Price Bet Proposed by Mike Novogratz 01/23/2022 - 09:05$1 Million Bitcoin Price Bet Proposed by Mike Novogratz Alex Dovbnya

Galaxy Digital CEO Mike Novogratz has challenged Euro Pacific Capital CEO Peter Schiff to put his money where his uber-bearish mouth is. Novogratz has offered the most prolific Bitcoin doom prophet a $1 million wager over the latter’s oft-repeated prediction that the cryptocurrency market is going to crash and burn. The crypto mogul is betting that Bitcoin will be trading above the $35,000 level a year from now. If he’s wrong, he will donate $1 million to the charity of his choice. Schiff is yet to respond to the audacious offer.  

@PeterSchiff I’ll bet $1mm to the charity of either of our choices that $BTC is higher than 35k a year from now. You on? https://t.co/ilQ5KJrHGP

— Mike Novogratz (@novogratz) January 22, 2022

As reported by U.Today, Novogratz predicted that the price of Bitcoin would find a bottom near the $38,000 support level, but he then cautioned investors that the market would remain under pressure due to rising bond yields.    The bellwether cryptocurrency crashed to $34,000, the lowest price point since late July amid a relentless sell-off. Last February, Novogratz predicted that the top cryptocurrency would surpass the $100,000 mark in 2021, but Bitcoin peaked at $69,000 in early November before making a bearish turn. Out-of-control inflation prompted the U.S. Federal Reserve to adopt a hawkish stance, which is believed to be the main reason why bears are in the driver’s seat right now.RelatedShiba Inu (SHIB) Recovers 40% from Recent Low, Surpasses Polygon (MATIC)

Bears are coming out of hibernation

Finally feeling vindicated, Schiff has been tweeting non-stop about Bitcoin and the broader cryptocurrency market as of recently. He’s not the only permabear who’s gloating over the cryptocurrency crash. “Black Swan” author Nassim Taleb recently tweeted that a falling price actually makes Bitcoin more expensive and less desirable.  

For a contagion driven asset with no economic anchor such as #BTC, a falling price does not make it "cheaper" and more attractive. A falling price makes it less desirable &, paradoxically, more expensive. Why? Because price is its ONLY information.

— Nassim Nicholas Taleb (@nntaleb) January 22, 2022

NYU economist Nouriel Roubini recently tweeted that El Salvador is now “effectively bankrupt” because of his Bitcoin bet. 

#Bitcoin News#Mike Novogratz#Peter SchiffAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Solana Updates to Version 1.8.14 Following Three Days of "Degraded Performance"01/23/2022 - 14:59Solana Updates to Version 1.8.14 Following Three Days of "Degraded Performance" Arman ShirinyanShiba Inu Comes Closer to Becoming Biggest Holding on Whale Addresses After 16% Price Increase01/23/2022 - 14:41Shiba Inu Comes Closer to Becoming Biggest Holding on Whale Addresses After 16% Price Increase Arman ShirinyanDogecoin Co-Founder Welcomes El Salvador President to McDonald’s Family 01/23/2022 - 10:46Dogecoin Co-Founder Welcomes El Salvador President to McDonald’s Family Alex Dovbnya

Memes are part of internet culture, but they are therapy for Bitcoiners and crypto traders whenever the market crashes.

The Crypto Meme Culture

While there are thousands of memes flying around to comfort crypto holders, some of the top-notch memes are those that subtly devalue the efforts of service employees working nine to five jobs in companies like McDonald’s.

Anyone interested in crypto for a while and active on Crypto Twitter or any other crypto community must have come across these McDonald’s memes. Most of the memes featuring the American fast-food chain usually suggest that crypto traders will have to work or look for jobs at McDonald’s if prices continue to crash in order to survive the bearish market.

Interestingly, one particular meme about McDonald’s sharing job applications with crypto traders that trended during the market crash in June last year has become an NFT:

The most recent McDonald’s meme came on behalf of El Salvador’s president, Nayib Bukele, wearing McDonald’s employee uniform.

ADVERTISEMENTMcDonald’s Job Application Becomes NFT Collection

It’s exactly seven months since that meme circulated through the crypto space, and the market is bleeding again. This time, bitcoin is trading at half its all-time high price and most altcoins have recorded double-digit losses.

As crypto traders count their losses while hoping for the market to recover, someone has turned McDonald’s employee applications into a non-fungible token (NFT) collection and listed it on Opensea, proving again that anything can be tokenized and sold as NFT.

Dubbed McDonald’s Job Application, the NFT collection consists of  1,111 application forms that holders can use to find their dream job at the fast-food company.

The McDonald’s Application NFT creator even went on to give the collection a comic description, poking fun at crypto bros:

“ETH going down? Can’t afford living? We got you! Apply now to your dream 9 to 5 McDonald’s job with our application.”

Nearly $40k Traded in 12 Hours

According to the ambitious creator, the first 1,000 are free to mint while the remaining 111 will cost 0.01 ETH (approximately $25 at current prices).

Interestingly, 460 McDonald’s Application NFTs have been minted and are currently trading on OpenSea at a floor price of 0.019 ETH ($47). At the time of writing, the collection already has a trading volume of 15.9 ETH ($40,000) since it went live about 12 hours ago.

Meanwhile, it is important to note that the McDonald’s Application NFT collection is just a parody and not on behalf of the actual McDonald’s corporation. However, the fast-food chain already made its NFT debut last November when it launched its first-ever non-fungible token to celebrate the McRib’s 40th anniversary.

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Kris Marszalek, the CEO of popular cryptocurrency exchange CryptoCom, slammed data aggregating resource CoinMarketCap for misreporting their trading volume.

In a tweet on Christmas Day, the CEO of CryptoCom slammed CoinMarketCap for failing to report their trading volume accurately.

Merry Christmas to team CoinMarketCap who, a week after my response to their poorly worded tweet, arbitrarily reduced our exchange ranking to 14th.

We are 2nd/3rd on CoinGecko, so you guys know where to look for real and market neutral data. – He said.

At the time of this writing, CoinMarketCap has ranked CryptoCom at number 14 with $1.8 billion in trading volume over the past 24 hours.Meanwhile, CoinGecko reports that its trading volume is $3.1 billion, putting it third in place.The “poorly worded tweet” that Marszalek refers to is from December 15th, when there was an exchange between both, ultimately ending in him saying that they are “already working on removing CoinMarketCap’s unreliable price feed from our product.”The main reason for the complaints seems to be the glitch that CoinMarketCap went through back then.As CryptoPotato reported, a bug on the CoinMarketCap website showed absurdly high increases in the most important cryptocurrencies, which, in turn, affected all crypto services that rely on its data to show fiat prices and balances.SPECIAL OFFER (Sponsored)Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees. You Might Also Like: Tags: Crypto.com

Cronos Mainnet Beta aims to bring decentralized applications to the customer base of the CryptoCom ecosystem.

According to a PR shared with CryptoPotato, the project was launched today (November 8th) and is the first Cosmos EVM chain for DeFi, NFTs, and Metaverse.

The Spesifics of Cronos Mainnet

Compatible with the Ethereum Virtual Machine, Cronos Mainnet Beta can execute user-submitted smart contract codes. It enables developers to port their smart contracts from Ethereum and other EVM-compatible chains to the Cronos platform.

The token standard on Cronos is CRC-20. Users can employ it and bridge selected tokens from the CryptoCom App and Exchange by selecting the Cronos network when depositing and withdrawing, and from the CryptoOrg chain to Cronos via the IBC channel.

The document further reveals that the Cronos bridge is a fully decentralized protocol utilizing the IBC and Gravity modules within the Cosmos SDK. It supports transfers between the CryptoOrg chain and the Cronos chain.

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Apart from CryptoCom, the Cronos ecosystem partnered with some other key players in the digital asset industry, such as Chainlink, Metamask, Alchemy, Covalent, and more, as others might be announced at a later stage.

To further support the new infrastructure, the blockchain accelerator Particle B announced the CRO EVM Fund. It will provide up to $1 million per project to at least 100 protocols committed to building Cronos applications, toolings, and infrastructure.

Additionally, the Cronos bug bounty program will begin soon. It will aim to enhance the on-chain security of the ecosystem as it will have a maximum bounty of up to USD 1,337,133.7 sponsored again by Particle B.

It is worth noting that the first Cronos Hackathon is already running. Its end date is November 24th, as until then, it will encourage developers to spread their ideas and early-stage projects to the Cronos ecosystem.

What Is Coming Next?

The team behind the project vowed to continue working on further optimization of the network infrastructure and towards a full mainnet launch. Being part of the Cosmos community, bridging more Cosmos-based Chain tokens to Cronos through IBC is one of the main goals.

Another important step is bringing an improved Gravity Bridge and its potential roll out on the mainnet. At its core, Gravity Bridge is a bridge solution connecting Ethereum-based chain assets to the Cronos network.

Subsequently, the team will reportedly follow the community’s feedback and improve the project’s blockchain infrastructure according to the customers’ demands.

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Cryptocurrencies represent an internet-based medium of exchange that takes advantage of cryptographical functions in order to conduct financial transactions. They leverage blockchain technology to achieve decentralization, immutability, and transparency.

According to the latest crypto news, there are thousands of cryptocurrencies in existence. However, the most popular ones include Bitcoin, Ethereum, Ripple, Binance Coin, Bitcoin Cash, Tezos, Tron, Litecoin, and EOS, acquire more than 80% of the total market cap.

Decentralized cryptocurrencies such as Bitcoin, have one substantial advantage - no single authority can control them. Instead, they are governed by an algorithm that’s pre-programmed and defined. This takes away the human factor and makes the entire network transparent and immutable.

Cryptos can be sent directly between two parties, in a rapid and cheap process, compared to traditional bank transfers. Since there is no central authority or a middleman, the users can go through the process without having to worry about complying with different rules.

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Scuderia Ferrari signed a multi-year partnership with the Swiss technology company – Velas Network AG – to create non-fungible tokens (NFTs) for its fans. This is the racing team’s first interaction with the digital asset industry, while some Formula 1 rivals have already marked initial steps.

Ferrari Jumps into The World of Crypto

In its official statement, the famous sports car maker revealed it is “pleased” to have Velas Network AG as an associate. Ferrari and the NFT-related firm will provide the fans with the chance to own digital collectibles from March 2022 (when the next season of Formula 1 begins).

Scuderia Ferrari is glad to announce that, from next season, will be able to count on a new Premium Partner – Velas Network AG.

Welcome onboard 💪!#essereFerrari #Velas @VelasBlockchain https://t.co/3vBAT4pRhW pic.twitter.com/IXiHob9qgS

— Scuderia Ferrari (@ScuderiaFerrari) December 27, 2021

As part of the deal, Velas will also become Title Sponsor of the Ferrari Esports Series, the online mono-brand series of “The Prancing Horse,” and the Esports team that will compete in the F1 championship.

Mattia Binotto – General Manager and Team Principal of Scuderia Ferrari – described the Swiss tech firm as an entity that “makes innovation and performance the hallmark of technologically advanced products and services.”

In turn, Farhad Shagulyamov – CEO and Co-Founder of Velas Network AG – stated his company has built a “next-generation blockchain that puts the emphasis both on sustainability and performance.” Partnering with Ferrari, which is an “icon of excellence,” comes as a natural move, the executive concluded.

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The Scuderia Ferrari racing division is the most successful team in Formula 1. Throughout its history, “The Prancing Horse,” as it is known among its fans, has won the record 16 Formula 1 constructor’s championships and 15 driver’s championships.

Formula 1 And Its Connection with Crypto

The premier formula of motorsport has already dipped its toes in the cryptocurrency universe. In June this year, the popular digital asset exchange CryptoCom became the global partner of Formula 1’s new Sprint series for 2021.

As part of the deal, the cryptocurrency platform had its logo displayed at the tracks at every race for the remainder of the season. Moreover, CryptoCom also became the Official Cryptocurrency Sponsor and NFT Partner of the sports car championship.

In October, Ferrari’s bitter rival – McLaren Racing – announced the launch of its non-fungible tokens platform, where fans and digital art collectors can purchase digital collectibles. The new feature was built on the Tezos blockchain.

To celebrate the debut of the McLaren Racing Collectibles platform, the team decided to gift the first digital part of the MCL35M race car to the first 5,000 fans who joined the initiative.

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American home rental firm Airbnb Inc. might soon join the growing list of companies that accept cryptocurrencies as payment options for services.

Airbnb to Accept Crypto Payments?

The possibility of Airbnb supporting crypto payments comes after the company’s co-founder, and CEO Brian Chesky asked users on Twitter to recommend anything they would like the home rental firm to do in 2022.

If Airbnb could launch anything in 2022, what would it be?

— Brian Chesky (@bchesky) January 2, 2022

Three days after he posed the question, Chesky sorted through nearly 4,000 comments and made a list of the top six recommendations.

Crypto Payments Tops List

Apparently, many people want to be able to book an Airbnb apartment with digital assets as “crypto payments” topped the list of suggestions.

Other recommendations in the top six include providing clear pricing displays, a guest loyalty program, updated cleaning fees, more long-term stays and discounts, and better customer service.

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Interestingly, the CEO added that some of the suggestions are already in the pipeline for 2022, and the firm will consider others.

Although Chesky did not explicitly state his company’s stance on adding crypto payments, his comments could mean one of two things. Either Airbnb was already planning to integrate digital asset payments into its services before the CEO asked for suggestions, or it will consider doing so before the end of the year.

Got 4,000 suggestions. Here are the top 6:

1 – Crypto payments (top suggestion) 2 – Clear pricing displays 3 – Guest loyalty program 4 – Updated cleaning fees 5 – More long-term stays & discounts 6 – Better customer service

Already working on most, will look into others now! https://t.co/rxEM4BXZci

— Brian Chesky (@bchesky) January 5, 2022

Regardless of what it is, Chesky noted that the “crypto payments” recommendation included a variety of token ideas, including bitcoin.

The home rental firm co-founder also added that Airbnb’s existing payments volume is at $336 billion, processed since 2013.

Supporting cryptocurrencies could increase that figure as the industry continues to gain mainstream adoption. It will position the company to compete against Dtravel, a decentralized home rental firm established by former executives from Airbnb and Expedia with backing from leading crypto exchange Binance.

More Companies Support Crypto Payments

Meanwhile, last year saw a number of companies integrate crypto payment options. As reported in August 2021, popular German fashion company Philipp Plein International AG said it will allow customers to buy products with 15 different cryptocurrencies, including bitcoin and ether.

Similarly, American fintech company Verifone partnered with bitcoin payment service provider BitPay in September to make crypto payment options available to its clients in the United States.

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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Christopher Vecchio, senior currency strategist at IG Group subsidiary DailyFX, recently told Yahoo Finance that he would be very surprised if Shiba Inu and Dogecoin had a good 2022.   He believes that only Elon Musk would be able to save these coins by “pumping” them on Twitter:          

I'd be very surprised if Dogecoin and Shiba Inu have a good year unless someone like Elon Musk is pumping them on Twitter.

While Vecchio is also bearish on Bitcoin, he is convinced that the king is going to be the least affected cryptocurrency. Altcoins and meme coins, however, are going to see “deeper and deeper” losses, the analyst predicts.  Vecchio adds that Bitcoin is going through “a crisis of faith” together with the broader crypto market after the flagship cryptocurrency had failed to reach the $100,000 target that was predicted by the much-hyped stock-to-flow model, Fundstrat’s analyst Tom Lee and many others.

He also points to the fact that on-chain transactions have fallen along with the number of active wallets. Bitcoin ended 2021 at $46,439 on the Bitstamp exchange, printing its highest yearly close ever. However, the leading cryptocurrency is also down 31.74% from its current record high. Many market participants who were expecting six-digit prices this year may contribute to the sentiment letdown:

Further unwind from here wouldn’t be a surprise.

RelatedSHIB, DOGE, BTC, ETH and More: Worst Predictions of 2021

Central banks withdrawing support

Vecchio claims that 2021 was “a banner year” for stimulus, but he expects that things will be dramatically different this year. The U.S. Federal Reserve is also on the verge of hiking interest rates. Furthermore, Democrats are unlikely to retain control of the house and the Senate, which will likely lead to deficit cutting:

Risk impulses are starting to turn the corner…That speculative fervor might die down to a certain extent.

#Shiba Inu#Dogecoin NewsAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

125 Million SHIB Burned in Past 5 Days, 5.6 Million Destroyed in Last 24 Hours: Details01/01/2022 - 11:49125 Million SHIB Burned in Past 5 Days, 5.6 Million Destroyed in Last 24 Hours: Details Yuri MolchanRipple Unleashes 1 Billion XRP from Escrow as 2022 Kicks Off01/01/2022 - 10:44Ripple Unleashes 1 Billion XRP from Escrow as 2022 Kicks Off Yuri MolchanTop Crypto Predictions Made by Billionaires in 2021 01/01/2022 - 00:05Top Crypto Predictions Made by Billionaires in 2021 Alex Dovbnya

During his recent appearance on Lex Fridman’s podcast, Bridgewater Associates head Ray Dalio described Tesla CEO Elon Musk’s effort to put meme cryptocurrency Dogecoin on the moon as “cute."

He then went on to agree with Fridman’s point about the importance of humor and lightheartedness.       As reported by U.Today, SpaceX, Musk’s aerospace manufacturer, was paid with Dogecoin in May to launch a 40-kilogram cubic satellite called DOGE-1 to the moon next year.   

Alternative money

The hedge fund boss views Bitcoin as “alternative money,” reiterating that it has obtained the status of having imputed value. He predicts that there will be competition between different types of currencies because of rampant money printing:

Bitcoin is part of that competition, but there will be many moneys (not just crypto money).

Dalio goes as far as saying that non-fungible tokens, which experienced an enormous surge in popularity earlier this year, could emerge as a standalone type of money. The American billionaire has so far refrained from buying any NFTs, but he remains curious.   Gold is still a preferable “storehold of wealth” since it has been “universally recognized as money” for thousands of years, reaming the third-largest holding in central bank reserves around the globe. In addition, the yellow metal is untraceable, which also makes it come compelling for the billionaire.

RelatedBridgewater's Ray Dalio Chooses Gold Over Bitcoin

Can Bitcoin reach $1 million?

Dalio doesn’t see Bitcoin reaching the $1 million mark since he doesn’t think that the cryptocurrency will be able to surpass gold. He estimated that the flagship cryptocurrency is worth about 20% of gold (excluding central bank ownership and jewelry), which sounds “about right” to the legendary investor.

#Bitcoin News#Dogecoin News#Ray DalioAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

During a recent podcast appearance, Bridgewater Associates founder Ray Dalio has clarified that he’s neither a raging bull nor a bear when it comes to Bitcoin. The American billionaire changed his stance on the world’s largest cryptocurrency last year, revealing that he holds some of it back in May. The investor agrees with fellow billionaire Bill Miller that one should allocate from 1-2% of his or her net worth into Bitcoin.      Dalio, who remains a huge proponent of diversification, said that competing in the markets is more difficult than competing at the Olympics:

There are more people trying to do this and putting more resources behind it. Many members of the crypto community saw Dalio’s new book about the changing world order as a 550-page ad for Bitcoin.

Both zealots and “thoughtful” people are part of the Bitcoin community, Dalio says.RelatedRay Dalio Says Regulators Will Kill Bitcoin

Key risks faced by Bitcoin

He reiterated that he’s impressed by the fact that Bitcoin has managed to stand the test of time without breaking down.        However, he warned about some risks faced by Bitcoin. First of all, he believes that a new alternative might emerge since everything eventually gets old, which is just the nature of evolution.    He predicts that more money could flow into non-fungible tokens and other coins for diversification purposes. As reported by U.Today, Dalio is yet to dabble in NFTs, but the latest crypto frenzy has made him curious.      The head of the world’s largest hedge fund has once again warned that governments could outlaw Bitcoin just like they outlawed gold and silver back in the day:  

When you have an alternative currency, that’s a threat to every government. Every government wants a monopoly in their own currency.    

Finally, he also mentioned the proliferation of ransomware and malware as yet another problem that is plaguing Bitcoin.  

#Bitcoin News#Ray DalioAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Bitcoin’s volatility continued in the past 24 hours, but the asset has calmed below $57,000. Most alts are slightly in the green, while CryptoCom’s token has marked yet another all-time high after a double-digit price surge.

CRO and Gaming Tokens on the Rise

It’s safe to say that CryptoCom’s native cryptocurrency has been among the best performers in the industry lately. Propelled by massive partnerships and strategic developments, CRO has skyrocketed from $0.2 to a new all-time high of $0.94 in less than a month.

In the past 24 hours alone, CRO is up by 25%. It’s currently the 12th-largest digital asset with a market cap of nearly $24 billion.

Some gaming tokens have also been on the run lately, and The Sandbox proves this narrative now. On a daily scale, SAND has skyrocketed by 32% to a record of its own at above $7.

More double-digit agins come from Zcash (26%), BORA (22%), Enjin Coin (20%), Audius (19%), XDC Network (19%), Polygon (14%), Immutable X (13%), and Harmony (11%).

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The larger-cap alts have painted more modest increases. Ethereum is 5% up on the day and sits above $4,300. Binance Coin has neared $600 after a 4.5% jump. Solana, Ripple, Polkadot, Dogecoin, and Terra see gains of around 2-3%.

In contrast, Cardano (-4%), Avalanche (-6%), and Shiba Inu (-7%) have lost the most in a day.

The cryptocurrency market cap is up by around $50 billion in a day and stands above $2.7 trillion on CoinGecko.

Bitcoin Calms Below $57K

The primary cryptocurrency’s price has been on a volatile roller-coaster in the past several days. After a $7,000 drop last week, BTC had dumped to a monthly low beneath $56,000 before it went on the offensive and touched $60,000 during the weekend.

As Monday came, though, the bears returned and pushed bitcoin south again – this time to around $57,000. The bulls intercepted the move and drove the asset north to over $59,000, but this spike was short-lived.

Bitcoin plummeted in the following hours and lost over $3,000 to a daily low of $55,750. More recovery attempts followed, but they saw little-to-no success. As of now, BTC has stalled below $57,000, and its market cap is well beneath $1.1 trillion.

The dominance over the altcoins also suffered severely as its down by 3% in two weeks.

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Billionaire Mark Cuban has once again bucked heads with Pennsylvania-based entrepreneur and podcaster Preston Pysh on Twitter over Dogecoin. After complaining about out-of-control cryptocurrency spam on Twitter, Cuban faced criticism from Pysh for “pumping” Dogecoin, the original meme cryptocurrency, back in May.

Now do a 1 year performance comparison. I said Doge was good for spending and better than a lottery ticket. You still think btc is an inflation hedge ? It’s not and never will be. Doge/btc is flat last 30 days. #maxisgonnamaxi #btcisdigitalgold

— Mark Cuban (@mcuban) January 11, 2022

In response, the Dallas Mavericks owner defended his comments about Dogecoin being good for spending. Cuban believes that the meme coin’s inflationary dynamics can actually make it a better currency, which is something that Tesla CEO Elon Musk agrees with. Dogecoin co-founder Billy Markus came to Cuban’s defense, claiming that it’s annoying when keyboard warriors misrepresent people’s words.         The flagship canine coin is now down a whopping -80.24% from its all-time high that was recorded back in May. Cuban, however, points to the fact that Dogecoin has vastly outperformed Bitcoin over the past year. As reported by U.Today, Cuban and Pysh had a confrontation back in October during a heated live audio conversation on Twitter Spaces. The “Shark Tank” star said that he would continue talking about Dogecoin despite facing pushback from Bitcoin maximalists. Cuban said that it was “fun” to be part of the meme coin’s community.RelatedMost Iconic Bitcoin-Related Tweet Turns 13

Bitcoin is not an inflation hedge

Even though Cuban warmed up to Bitcoin during his cryptocurrency journey last year, he still doesn’t see the benchmark cryptocurrency as an inflation hedge. In his most recent tweet, he says that Bitcoin will “never” become one. He believes that the “inflation hedge” term is being used as a marketing slogan by both Bitcoin and gold promoters.

#Dogecoin News#Mark CubanAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Stocks Might Be Reason Behind Crypto and Bitcoin Drop, Here's Why01/11/2022 - 10:58Stocks Might Be Reason Behind Crypto and Bitcoin Drop, Here's Why Arman ShirinyanNBA Champion Andre Iguodala Takes Part of His Salary in Bitcoin, Who Else?01/11/2022 - 10:52NBA Champion Andre Iguodala Takes Part of His Salary in Bitcoin, Who Else? Vladislav Sopov4,118 BTC Bought Since November by Mega Whale Who Holds 123,000 Bitcoins01/11/2022 - 10:394,118 BTC Bought Since November by Mega Whale Who Holds 123,000 Bitcoins Yuri Molchan

SundaeSwap, a Cardano-based decentralized exchange, has announced that it has conducted a security audit in partnership with Runtime Verification (RV). The audit has helped to identify several critical issues in the protocol. Its detailed overview will be presented in a separate report that will become available soon. Pi Lanningham, chief information officer of SundaeSwap Labs, says that the DEX is now capable of meeting community standards:

RV's thorough process identified a number of issues that we were able to quickly resolve. The result is a DEX that is able to safely meet the needs of the Cardano DeFi Community.

The project will continue working with RV on future updates now that the audit has been completed. The cooperation is "critical" to the exchange's long-term success, according to Lanningham. SundaeSwap is one of the most prominent projects within the budding DeFi ecosystem on the Cardano blockchain, which is expected to become the blockchain's first functional DEX. As reported by U.Today, the Cardano-based DEX launched its testnet in early December. It is now in the process of fixing various inefficiencies ahead of its mainnet debut.

RelatedElon Musk Says He’s Not SatoshiIn September, SundaeSwap joined forces with pubic Chinese blockchain Nervos. As reported by U.Today, Charles Hoskinson, CEO of Cardano developer Input Output, recently spoke about the shortcomings of DeFi in a regular YouTube livestream. The cryptocurrency luminary proposed creating a specific set of standards that the industry has to follow, bemoaning low-quality projects within the existing DeFi landscape that can only rely on "a hope and a prayer."

#Cardano News#DeFi NewsAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Union Square Ventures' Albert Wenger Explains Why Crypto Looks Like First PCs for Him12/29/2021 - 16:40Union Square Ventures' Albert Wenger Explains Why Crypto Looks Like First PCs for Him Vladislav SopovFormer SpaceX Intern Insists Musk Created BTC, Snowflake Floki Ends Up Being Honeypot Scam, ADA Might Be Set for Rally: Crypto News Digest by U.Today12/29/2021 - 16:22Former SpaceX Intern Insists Musk Created BTC, Snowflake Floki Ends Up Being Honeypot Scam, ADA Might Be Set for Rally: Crypto News Digest by U.Today Valeria BlokhinaYou Can Now Eat Dogecoin-Inspired Hot Dogs at This Crypto Restaurant12/29/2021 - 16:04You Can Now Eat Dogecoin-Inspired Hot Dogs at This Crypto Restaurant Alex Dovbnya

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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In a recent tweet, cryptocurrency-focused analytics company IntoTheBlock has noted that a potential Bitcoin short squeeze could be in the works. Its analysis is based on the ratio of Bitcoin’s open interest relative to the flagship cryptocurrency’s market cap, which recently hit a one-year peak of roughly 2.25%. According to data provided by Coinglass, Bitcoin futures open interest, which represents all outstanding contracts held by traders, recently reached a new record high of $16.68 billion, with crypto giant Binance accounting for 28.86% of the sum. FTX and CME Group come in second and third places (17.65% and 14.06%, respectively). IntoTheBlock recalls that the OI/MC ratio also increased against the backdrop of falling Bitcoin prices in July 2021, the month Bitcoin plunged to $29,400 before resuming its uptrend. Hence, the analytics firm expects a similar scenario to play out this time around.

Potential short squeeze ahead The ratio of #Bitcoin’s open interest relative to its market cap has reached the highest level in over a year The last time the OI/MC ratio increased while Bitcoin’s price decreased was in July 2021, which marked the bottom pic.twitter.com/Jgkr2L4m5A

— IntoTheBlock (@intotheblock) January 8, 2022

Bitcoin is now on track to record its third consecutive month in the red, with its price falling 10% in July. It is currently changing hands at $41,502 on major exchanges.

RelatedMajor Ethereum Warning Issued by Veteran Trader

Extreme fear and oversold conditions

On Jan. 7, the relative strength index (RSI) on Bitcoin’s daily chart dropped below 30 for the first time since May 17, indicating that the largest cryptocurrency is oversold. On Jan. 8, a widely-tracked Bitcoin “fear and greed" index dropped to 10.    Bulls might not be out of the woods just yet. As reported by U.Today, Galaxy Digital CEO Mike Novogratz recently predicted that the price of the largest cryptocurrency could end up bottoming out at $38,000, which is the lower range of a major support zone.

#Bitcoin NewsAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Ethereum Users Pay Record-Breaking Fees as Coin Loses Almost 20% in Last 4 Days, Here's Why01/09/2022 - 15:47Ethereum Users Pay Record-Breaking Fees as Coin Loses Almost 20% in Last 4 Days, Here's Why Arman ShirinyanShiba Inu Profitability Rate Drops to 44%, Making Token Unprofitable for Majority of Holders01/09/2022 - 15:34Shiba Inu Profitability Rate Drops to 44%, Making Token Unprofitable for Majority of Holders Arman ShirinyanKosovo Seizes Hundreds of ASICs After Bitcoin Mining Ban 01/09/2022 - 13:53Kosovo Seizes Hundreds of ASICs After Bitcoin Mining Ban Alex Dovbnya

In a recent interview with Bloomberg TV, Aparna Chennapragada, chief product officer at Robinhood, said that the company "really appreciates" the Shiba Inu community, and it does not take its energy for granted.

At the same time, she will not comment on whether or not the Menlo Park-based online brokerage is intending to list the meme cryptocurrency. The no-commission trading app initially added support for Bitcoin and Ethereum in early 2018. A few months later, it expanded its offering with Litecoin, Bitcoin Cash and Dogecoin. Contrary to its crypto-native competitors, Robinhood did not opt for an aggressive listing policy, choosing "quality over quantity." The company offers only seven cryptocurrencies. Last week, Robinhood chief financial officer Jason Warnick said that the company would keep its options open regarding the listing:

It's not lost on us that our customers and others would like to see us add more coins.

The Shiba Inu community has been clamoring for Robinhood support for months, with its Change.org petition collecting over half a million signatures.RelatedBillionaire Mark Cuban Shuts Down Dogecoin Critic

Crypto wallets are coming

In other news, Robinhood has kicked off the beta testing phase of its cryptocurrency wallets, according to an announcement made by Christine Brown, the chief operating officer of the company's crypto division. The first 1,000 users on the waitlist have received priority in getting access to the much-anticipated "Wallets" feature. Beta testers will be able to make up to 10 transactions per day, and those cumulative values should not exceed $2,999. In late December, Brown announced that 1.6 million people had joined the waitlist. Robinhood has attracted plenty of criticism from the "not your keys, not your Bitcoin" crowd for not allowing users to withdraw their cryptocurrency.

#Shiba Inu#RobinhoodAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Here's Why Bitcoin Might Be Approaching Buy Zone 01/21/2022 - 17:02Here's Why Bitcoin Might Be Approaching Buy Zone Alex DovbnyaETH, XRP, ADA and BNB Price Analysis for January 2101/21/2022 - 15:52ETH, XRP, ADA and BNB Price Analysis for January 21 Denys SerhiichukSHIB Dev’s Idea Might Shake Crypto Space, McDonald’s Is Urged to Accept DOGE, Cardano Announces Major Scaling Update: Crypto News Digest by U.Today01/21/2022 - 15:50SHIB Dev’s Idea Might Shake Crypto Space, McDonald’s Is Urged to Accept DOGE, Cardano Announces Major Scaling Update: Crypto News Digest by U.Today Valeria Blokhina

Former heavyweight champion boxer Mike Tyson recently tweeted about going "all-in" on Solana, one of the leading "Ethereum killers."

All in on Solana… Just copped a Catalina Whale... pow pow! pic.twitter.com/97voS15B8y

— Mike Tyson (@MikeTyson) January 12, 2022

The legendary boxer also attached a Catalina Whale non-fungible token (NFT) issued on top of the Solana blockchain. Tyson also started promoting Dream (DREAM), a dubious ERC-20 token, claiming that the token could "revolutionize" the space and help the community deal with mental health issues. As reported by U.Today, "Iron Mike" asked Twitter to decide whether he should choose Ethereum or Solana in September. In June, he asked his five million followers the same question about Bitcoin and Ethereum. In July, the boxer announced his first NFT line after teaming up with creative agency 1ofone. Its launch took place in August.

RelatedShiba Inu (SHIB) Rallies 8% on Robinhood Listing Rumors The competition between the two chains is getting increasingly fierce. Both JPMorgan and Bank of America recently predicted that Solana would continue eating away at the market share of its bigger rival. Weaker decentralization is considered to be a reasonable trade-off for achieving a sufficient level of scalability. Yet, Solana has faced multiple technical hiccups over the last few months, which show that the network might not be ready for mainstream adoption.

In 2015, he got into the Bitcoin game by launching a Las Vegas-based ATM after teaming up with Bitcoin Direct. The project was met with scam accusations that were vehemently denied. The former boxing champ also launched a Bitcoin wallet in partnership with Bitcoin Direct in 2016.

#Solana NewsAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Dogecoin Is Now Leading Altcoin Market Rally With 12% in Last 24 Hours01/13/2022 - 11:47Dogecoin Is Now Leading Altcoin Market Rally With 12% in Last 24 Hours Arman Shirinyan82,048 Ethereum Just Bought by Number 1 BNB Whale: Details01/13/2022 - 11:3282,048 Ethereum Just Bought by Number 1 BNB Whale: Details Yuri MolchanBitcoin's Incoming Death Cross: This Is What Historical Data Suggests01/13/2022 - 11:17Bitcoin's Incoming Death Cross: This Is What Historical Data Suggests Tomiwabold Olajide