Millions now watch the world of crypto. It’s simply that much going on.
Start with this recap of some intriguing stories as we await Ether ETFs:
Mastercard Moves In the World of Crypto
One of the largest credit issuers in the US, Mastercard releases its own peer-to-peer network, allowing the company to transact in crypto. This is surely a response to emerging markets as Mastercard focuses on sending and receiving digital assets globally.
The pilot project is being tested as we speak.
Hailed as the Mastercard Crypto Credential program, its initial aim is in Latin America and Europe. Those emerging markets are risky but can rise from a current value of $831 billion.
The Gemini Bankruptcy Pays Out $2 Billion
The Gemini exchange officially went bankrupt in 2022, and more than 200,000 accounts were locked and denied a withdrawal. A bit of hidden fraud led the exchange to overstate its reserves, causing its lending branch, Genesis, to then fail.
Today, for every Bitcoin a user donated, they’ll get a Bitcoin back but, this time, with a dramatic three-times increase on the value per coin.
In the words of Gemini’s, Cameron Winklevoss,
“We are thrilled to have been able to achieve this recovery for our customers … We recognize the hardship caused by this lengthy process and appreciate our customers’ continued support and patience throughout.”
Coinbase
- Regulated exchange
- An easy-to-use platform
- Free crypto training offered
Coinbase
The Ripple Token Gets Political
In a move to promote handpicked politicians and those in favor of crypto, the Ripple network donated just $25 million to a now growing super PAC.
The Fairshake Super PAC already spent $1.2 million on broadcasted ads through television, yet the content it supported was in favor of U.S. House of Representative members. We see its motive in the words of Ripple’s CEO:
“Ripple will not—and the crypto industry should not—keep quiet while unelected regulators actively seek to impede innovation and economic growth that millions of Americans utilize …”
$3 Million Found In the World of Crypto
As if this week hadn’t had its surprises, researchers cracked open a long-lost crypto wallet that originally held just $2 million in Bitcoin on it.
That value is now worth $3 million, but the wallet’s owner was first turned down in his attempt to hire professionals to hack into the funds. He lost access to the wallet by relying on a crypted-desktop app to store his passcodes in.
When the wallet didn’t activate its 20-word code, the owner approached a legendary hacker, Joe Grand, known as Kingpin. After trying a number of times, Grand finally submitted to the request for his services, and he, eventually, cracked open the wallet.
He found that RoboForm’s passcode program was vulnerable because it used dates and time to generate its codes.
The hacker simply went back to the date the passcode was created to then unlocked it.
There are more exciting weeks in crypto ahead, and we don’t want you missing them. Let us urge you to start with this overview of Coinbase for a platform that’s reliable and easy.
