DailyCoin
Published Oct 25, 2021 09:04AM ET
Updated Oct 25, 2021 09:31AM ET
Crypto Flipsider News – SHIB Falls, Musk Leaves the Ship, CMC Loses Client Data, 130k People Scanned Eyes for Crypto
Read in the Digest
Elon Musk Confirms No Investment in Shiba Inu, SHIB Falls from ATH
Doge killer Shiba Inu (SHIB) has been one of the most talked-about cryptos thanks to help from Tesla (NASDAQ:TSLA) and SpaceX CEO Elon Musk. Tweets from Musk sent SHIB into a major rally, leading to a new all-time high on October 24.
After supporting the meme coin with Tweets, the Tesla chief has clarified that he doesn’t have an investment in Shiba Inu (SHIB). When asked how much SHIB he was holding, Musk replied, none.
Hey @elonmusk How Much $Shib You Are Holding!!— Shiba Inu (@ShibaInuHodler) October 24, 2021
Since hitting its ATH of $0.00004442 on October 24, Shiba Inu (SHIB) plummeted as much as 16.3%. A price recovery has seen SHIB now trade at $0.00003911, 13% down from its ATH.
Flipsider:
Why You Should Care
Musk confirmed that he is only holding three cryptocurrencies: Bitcoin, Ether, and Dogecoin. While he has invested in DOGE, Musk has clarified that he does not have anything to do with the Dogecoin Foundation.
A Wave of Hacks: CoinMarketCap Data Leaks, Polygon Avoids $850 Million Catastrophe
CoinMarketCap, the world’s most-referenced crypto price tracker, is on the receiving end of a data leak. The email addresses (not containing passwords or other information) belonging to 3.1 million CMC users have been leaked.
The data was first leaked in August but resurfaced again in the last couple of days. As of the time of this writing, details on the notorious attacker behind this data breach remain unknown.
DeFi’s leading bug bounty platform, Immunefi, has announced that a researcher named Gerhard Wagner was paid $2 million for his help in identifying a bug that would have cost Polygon an estimated $850 million.
The vulnerability was found in one of the bridges between the Polygon and Ethereum blockchains. The bug in Polygon’s Plasma Bridge, which has now been fixed, allowed deposits of ETH to be withdrawn as Polygon (POLY) up to 223 times.
Flipsider:
Why You Should Care
The increasing number of hacks have raised concerns and calls for greater attention to security in crypto projects.
Valkyrie’s ETF Debuts on Nasdaq with $78 Million Traded on Opening Day
In a milestone month for the crypto industry, the second Bitcoin-based exchange-traded fund (ETF) was launched just days after the ProShares Bitcoin ETF opened on the New York Stock Exchange.
In the same week as the ProShares Bitcoin ETF debut, Valkyrie launched its Bitcoin Strategy ETF on the Nasdaq exchange. Valkyrie’s ETF, “BTFD,” scored an opening day trade volume of $78 million on Nasdaq.
According to the CEO of Valkyrie, Leah Wald, the demand for Bitcoin is so strong that they are looking at bringing “two or three” new ETFs to market. However, Valkyrie’s ETF began trading at $25.52 per share and fell to a low of $24 by Friday’s close.
Flipsider:
Why You Should Care
The debut of Bitcoin ETFs helped in Bitcoin’s push to a new ATH. There are predictions that Bitcoin could surge even more with the launch of more EFTs.
Cryptocurrency Startup Gives Free Crypto for Eye Scans: 130k People Involved Already
Cryptocurrency has seen a lot of unique use cases, and a startup in Silicon Valley is making headlines for gifting free crypto to individuals who let them scan their eyes. The payment is in their own cryptocurrency, called Worldcoin.
Worldcoin describes itself as “a new, collectively owned global currency that will be distributed fairly to as many people as possible.” Worldcoin has a fixed supply of 10 billion tokens with 20% utilised to fund the production of Orb iris-scanner devices and initial protocol development.
The mastermind behind the Worldcoin project is tech millionaire Sam Altman, former head of Y Combinator. The project hopes to gather eye scans of people as biometric authentication to ensure that individuals don’t get multiple allocations.
According to its data, it has collected over 130,000 registrations, and its user accounts aren’t associated with any of the biometric data. Worldcoin plans to scan the eyes of a billion people through next year.
Flipsider:
Why You Should Care
Worldcoin is a collectively owned asset that wants cryptocurrency adoption more widespread and evenly distributed to as many people as possible. Currently, only 3% of the world’s population hold a cryptocurrency.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.