Polywhale Team Abandon $100 Million Project Amid Scam Allegations

Key Takeaways Polywhale Finance, the first yield farm on Polygon, has abandoned the project and withdrawn over $1 million in tokens. The team said they were quitting due to bad tokenomics and poor market conditions, a claim dismissed by others. Community members describe the incident as a “soft rug,” a fraudulent exit scam in which project founders sell own tokens on the market. Share this article Polywhale Finance, the first-ever yield farm on Polygon has been abandoned by its founding team amid rug pull allegations. Polywhale: Another Yield Farming Exit…

Bulls Lose Hope as Bitcoin, Ethereum Continue to Fall

Key Takeaways More than $1 billion was liquidated on major exchanges on Monday as Bitcoin continued its bad weekly performance and Ethereum revisited sub-$2,000 levels. Bad news from China sent ripples through the already-weakened markets as only one cryptocurrency out of the top 100 has had a positive 24 hours. The crypto market just saw its worst monthly performance since 2011. Share this article More bad news from China confirms the current bearish tendency of the market. While Bitcoin falls more than 15% in the last seven days, Ethereum comes…

MicroStrategy Buys The Dip With $489 Million BTC Purchase

Share this article MicroStrategy has completed a $489 million Bitcoin purchase from the proceeds of the sale of $500 in senior debt notes last week.  MicroStrategy and the Big Bitcoin Bet  The American intelligence firm added 13,000 BTC to its treasury from $489 million (after expenses) raised from corporate bonds sale to accredited investors. The average purchase price was $37,617. The company’s most recent purchase is down 13.2% in value due to fear of a crypto trading ban in China.  MicroStrategy is the world’s largest Bitcoin holder among publicly traded…

Smaller Digital Euro Payments Could Be “Truly Anonymous” Says ECB Exec

Key Takeaways The European Central Bank has previously stated that anonymity would be impossible for digital euro transactions. ECB representative Fabio Panetta recently contradicted this statement, saying smaller transactions may be anonymous. It remains to be seen whether Panetta is referring to microtransactions. Share this article The European Central Bank appears to have shifted its privacy stance on its upcoming digital currency, with ECB executive Fabio Panetta saying “For smaller amounts, we could permit truly anonymous payments.” Europe Changes Its Tune on Digital Currency Panetta’s statement contradicts a previous report…

China’s Central Bank Calls for Crypto Trading Ban

Key Takeaways China’s central bank has issued guidelines for a harder crackdown on crypto. Bitcoin and crypto prices crashed this morning after the news broke-out, with experts warning this crackdown is more serious than previous ones. The implementation of further bans in China threatens a huge setback for crypto markets. Share this article The central bank of China called a meeting Monday with the country’s banks to crack down harder on cryptocurrencies, Reuters reported. Central Bank in China Calls for Ban on Crypto Trading Chinese regulatory fear has gripped the…

Mila Kunis Launches “Stoner Cats” NFT Cartoon Series

Key Takeaways Mila Kunis is launching “Stoner Cats,” an animated web series Viewers will purchase NFTs, which will be used as access tokens. Funds raised will go toward funding future episodes. Kunis will also voice one of the characters in the series. Share this article Actress Mila Kunis has plans to launch a new series of NFTs, as announced on Conan O’Brien’s late night talk show this week. Web Cartoon Will Launch Next Month On “Conan,” Kunis revealed that she is involved in a web series called “Stoner Cats” that…

Crypto Bull Market “Definitely Not Over”: 3AC’s Su Zhu

Key Takeaways On the latest Uncommon Core podcast, Su Zhu said that the bull market is “definitely not over.” Zhu argued that while prices have fallen since mid-May, many key metrics point to healthy adoption. He said that fears caused by China and Tesla prompted investors to start taking profits. Share this article Su Zhu says that the bull market still has room to run. In the latest Uncommon Core podcast, the Three Arrows Capital CEO and co-founder argued that recency bias had influenced the current market sentiment. Su Zhu…

NASCAR Star Landon Cassill to Receive Salary in Crypto

Share this article Landon Cassill has partnered with crypto payments firm Voyager to receive his salary in crypto for the remainder of the 2021 NASCAR season. Most of his salary will be paid in Litecoin and Voyager tokens.  NASCAR Driver Adopts Crypto  Landon Cassill will receive his salary in cryptocurrencies. The NASCAR driver has partnered with crypto payments company Voyager to receive his paychecks for the remainder of the 2021 season in digital assets. NASCAR announced the update on its website Thursday.  Voyager is now a sponsor of the NASCAR…

Bitcoin Miner Hive Blockchain Heads to Nasdaq

Share this article Another crypto mining company lands a Nasdaq listing.  Hive Blockchain to List on Nasdaq  Hive Blockchain is heading to Nasdaq, the firm announced Thursday.  HIVE is excited to announce today that it has received approval to list its common shares on the Nasdaq Capital Markets Exchange, where it will begin trading soon. HIVE will also retain its listing on the TSX Venture Exchange (TSX.V). pic.twitter.com/6XyEFfSCL4 — H I V E (@HiveBlockchain) June 17, 2021 The Canadian company has been granted approval to list its common shares on…

China Rolls Out 3,000 Digital Yuan ATMs

Key Takeaways China has added support for the digital yuan at 3,000 ATMs in Beijing. China has conducted lotteries to boost the popularity of its digital currency. It’s distributed more than $40 million worth of digital yuan so far. China, the United Arab Emirates, and other partners are developing a global payment network based on CBDCs. Share this article China hopes to increase adoption of its digital yuan by adding support for the currency at more than 3,000 ATMs in Beijing. Citizens will be able to withdraw the digital yuan…