Tag: Cryptoculture

Netflix Eyes Mysterious Disappearance of $190,000,000 After Death of Crypto Exchange CEO

by Dailyhodl

One of the biggest mysteries in the cryptocurrency sector is getting fresh scrutiny in a Netflix documentary.

The online video streaming giant says in a tweet that it will air an investigative documentary titled “Trust No One: The Hunt for the Crypto King”.

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The documentary focuses on Gerald Cotten, the founder and CEO of QuadrigaCX, Canada’s biggest cryptocurrency exchange until two years ago.

Cotten, a Canadian, died in December of 2018 while on a honeymoon in India, but his death went unannounced until January 2019.

The QuadrigaCX CEO was allegedly the only one with the private keys required to access the crypto assets in the exchange’s custody, believed to be worth $145 million (C $190 million) at the time of his death.

Netflix says the documentary will air starting next year.

“TRUST NO ONE: THE HUNT FOR THE CRYPTO KING

Follow a group of investors turned sleuths as they try to unlock the suspicious death of cryptocurrency multimillionaire Gerry Cotten and the missing $250 million they believe he stole from them. Premieres in 2022″

Cotten’s sudden death in a foreign land and the disappearance of millions of dollars worth of crypto assets led to conspiracy theories that included suspicions that Cotten might have faked his death.

A report by Canadian Broadcasting Corporation in May quoted Cotten’s widow denying the theory, saying through her lawyer that “she was with Mr. Cotten at the time of his death and he is most certainly dead.”

QuadrigaCX entered bankruptcy proceedings soon after Cotten’s death, and by May, the amount recovered to pay the roughly 76,000 creditors totaled $36,357,894 (C $46 million).

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Three-Time NBA Champion Stephen Curry Buys Bored Ape Yacht Club NFT for $180,000

by Dailyhodl

The superstar point guard of NBA team Golden State Warriors, Stephen Curry, recently spent a six-figure sum on a non-fungible token (NFT).

The basketball global icon acquired a Bored Ape Yacht Club NFT at a price of 55 Ether, worth approximately $180,000 at the time of the purchase, on the crypto-collectibles platform OpenSea.

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According to a description on OpenSea, there are 10,000 Bored Ape NFTs in the collection. Each Bored Ape NFT serves as a membership card that grants access to a graffiti board known as “THE BATHROOM.”

At the time of writing, Curry is using the purchased Bored Ape NFT as his Twitter page profile photo.

Curry also owns other crypto-collectibles, including a Bored Ape Kennel Club, which he bought for 5.69 ETH, worth over $18,000.

The Bored Ape Kennel Club consists of NFTs featuring virtual dogs meant for adoption by Bored Ape Yacht Club members at no added cost except for transaction fees. Proceeds from the secondary sales of the Bored Ape Kennel Club NFTs are donated to charity.

According to OpenSea, the three-time NBA champ bought an NFT that features a canine carrying a basketball hoop, a rare trait not found in 98% of the collection.

Last week NFT-tracking website CryptoSlam revealed that the NFT project CryptoPunks had recorded the highest monthly sales figures ever in August, over $378 million – raising speculation that a bubble is forming.

The chief strategy officer of digital asset manager CoinShares, Meltem Demirors, disputes claims that NFTs are in a bubble. Demirors argues that NFTs are luxury goods targeting a new category of consumers.

“The global market for luxury goods i.e. conspicuous spending is absolutely massive. NFTs are digital flex/status symbol for a new class of consumers, but unlike the traditional markets of wealth and status, they are open to anyone, anywhere with verifiable scarcity.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Digital Asset Exchange FTX Set To Pay $17,500,000 in Crypto for Exclusive Naming Rights of Cal Memorial Stadium

by Dailyhodl

US-regulated crypto exchange FTX.US is announcing a multi-million dollar deal to acquire the naming rights to the field at the California Memorial Stadium.

According to a press release, FTX.US has entered a sponsorship agreement with Cal Athletics’ multimedia rights holder Learfield to rename the venue.

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“As part of the $17.5 million deal, LEARFIELD will accept the full payment in cryptocurrency on behalf of the university. Through this historic, 10-year agreement, FTX receives naming rights to the field at California Memorial Stadium, which will be known as FTX Field at California Memorial Stadium.”

The deal between FTX.US and LEARFIELD is the “first-ever collegiate cryptocurrency naming rights sponsorship,” according to the statement.

Sina Nader, the chief operating officer of FTX.US, says the crypto exchange will also make donations to charitable endeavors that coincide with the company’s core values.

“We are also committing an additional $200,000 on top of this partnership, which will specifically be used to help fight homelessness in Berkeley, and to support organizations that help underrepresented student groups at UC Berkeley.” 

Earlier this year, FTX, the global sister organization of FTX.US, won the stadium naming rights to the home of the NBA’s Miami Heat. The stadium, which was formerly known as the American Airlines Arena, will be called the FTX Arena at the start of the 2021-2022 NBA season. The 19-year partnership agreement is worth $135 million.

In June, both FTX.US and FTX inked a $210 million naming rights deal with TSM. The e-sports organization adopted the name TSM FTX under the agreement that required TSM to purchase FTX’s utility token, FTT.

“Additionally, TSM FTX will distribute cryptocurrency to each of its players and employees as well as purchasing $1 million in FTT, FTX’s native token.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Wall Street Investors Not Ready for Bitcoin FOMO Phase, According to BTC Bull Anthony Pompliano

by Dailyhodl

Crypto veteran and Bitcoin bull Anthony Pompliano, also known as Pomp, is predicting a Bitcoin FOMO (fear of missing out) phase that he says Wall Street investors aren’t ready for.

In a new episode of The Best Business Show, Pomp says that he expects major FOMO to occur in the Bitcoin space that makes everyone, even people outside of the traditional players, start talking about BTC.

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“There’s going to be like two or three week period where you’re literally trying to go to sleep at night, and you’re not going to be able to go to sleep because you can’t stop thinking about what’s happening. You’re going to wake up and be like ‘What did I miss?’ And it’s just going to be every single person in your life is going to be talking about this. The Uber driver, your barber, your friends, your mom, everyone is going to be talking about this stuff, and when you feel that, that’s when you know, okay we’re starting to hit that FOMO phase.”

Pomp says investors from Wall Street and traditional finance won’t be prepared to understand or take advantage of such a Bitcoin run. According to the BTC bull, the flagship crypto could experience a FOMO phase that goes beyond all of Wall Street’s expectations.

“But if we go back and look at the FOMO phase of 2017 and other bull markets, it supersedes almost everyone’s expectations. What we’re talking about right now is in the heart of a bull market, we had a 50 plus percent drawdown. The volatility on this thing is unlike any other asset. 

And so when you start thinking about all of these Wall Street guys that come in, whether they’re hedge funds, whether they’re corporations, whether they’re some sort of asset manager, I don’t think they’re ready for this. This stuff is going to absolutely rip their faces off.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Global Cryptocurrency Adoption Is ‘Skyrocketing,’ and This Country Is Leading the Way: Chainalysis

by Dailyhodl

A new report from blockchain data platform Chainalysis indicates that crypto adoption is surging around the globe, with residents of one particular country leading the way.

Vietnam tops Chainalysis’ 2021 Global Crypto Adoption Index, with strong numbers in total cryptocurrency activity, on-chain retail value transferred, and peer-to-peer (P2P) exchange trade volume.

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The Southeast Asian country has made more than one recent crypto list. Earlier this month, Vietnam ranked second on Binance’s list of the top five countries in terms of crypto adoption.

India, Pakistan, Ukraine and Kenya round out Chainalysis’s top five, respectively.

The blockchain data platform weighted the rankings by purchasing power parity (PPP) in order to favor countries that have an amount of crypto activity that is more significant based on the wealth of the average person and the value of money within the countries, according to the Chainalysis report.

“Several countries in emerging markets, including Kenya, Nigeria, Vietnam, and Venezuela rank high on our index in large part because they have huge transaction volumes on peer-to-peer (P2P) platforms when adjusted for PPP per capita and internet-using population. Our interviews with experts in these countries revealed that many residents use P2P cryptocurrency exchanges as their primary on-ramp into cryptocurrency, often because they don’t have access to centralized exchanges.”

Chainalysis adds that the overall level of cryptocurrency adoption around the globe is “skyrocketing” and that the factors driving these rates may differ from region to region.

“Our research suggests that reasons for this increased adoption differ around the world – in emerging markets, many turn to cryptocurrency to preserve their savings in the face of currency devaluation, send and receive remittances, and carry out business transactions, while adoption in North America, Western Europe, and Eastern Asia over the last year has been powered largely by institutional investment.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Ethereum Creator Vitalik Buterin Joins Advisory Board of Revamped Dogecoin Foundation

by Dailyhodl

Ethereum creator Vitalik Buterin is joining the advisory board of the Dogecoin Foundation, a non-profit organization that is relaunching to support the development of Dogecoin and its blockchain.

The foundation is re-establishing as Dogecoin (DOGE) grows to become one of the largest cryptocurrencies with a market cap of over $39 billion.

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In a new announcement, the non-profit highlights its key focus areas.

“It is with great excitement that today we announce the re-establishment of the Dogecoin Foundation (est 2014), with a renewed focus on supporting the Dogecoin Ecosystem, Community and promoting the future of the Dogecoin Blockchain.”

The foundation says it formed a small group of advisors who will serve as allies and advocates for the meme crypto and provide key insights into particular strategic areas.

The advisory board has four members. Jared Birchall, who is representing Tesla CEO Elon Musk, will serve as the legal and financial advisor. Dogecoin core developer Max Keller will serve as technical advisor. Dogecoin co-creator Billy Markus (Shibetoshi Nakamoto) will serve as community and memes advisor. Finally, Buterin will be the blockchain and crypto advisor.

The foundation says it is also looking for funding to support full-time contributors for the project. The non-profit aims to build a group of annual sponsors to fund its activities and development team.

“Our Initial target is to secure a three-year budget so that we can on-board a minimum staff to improve Dogecoin full-time, without them having to worry about job security.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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These Are the Five Countries Paving the Way for Crypto Adoption, According to Binance

by Dailyhodl

As crypto adoption continues to sweep across the globe, major crypto exchange Binance is showcasing five standout countries that it says are leading the way.

In a recent blog post, Binance covers the various catalysts driving crypto adoption and highlights five particular countries that are seeing accelerated growth based on data pulled from Statista’s global consumer survey. 

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The first country on Binance’s list is Nigeria, which has a population of over 200 million. An analysis from Statista shows that 32% of Nigeria’s population has used or owned crypto at some point in time.

Next up is Vietnam. Data from Chainalysis show that Vietnamese crypto traders pulled in $400 million in crypto earnings last year. Twenty-one percent of the nation’s 100 million citizens have traded cryptocurrencies, used peer-to-peer trading services, or other forms of crypto utility, according to Binance.

Third on Binance’s list is the Philippines. The crypto exchange reports that 20% of the country’s 111 million people have used crypto. The nation’s government has already begun to utilize blockchain technology to distribute bonds, and its central bank has provided licenses for various crypto companies within the country, according to Binance.

Turkey is next on the list. Binance claims that the nation reported $300 million in Bitcoin gains over the past year. Crypto companies in the country have reportedly become so large that they are now sponsoring local sports teams.

According to Binance, 16% of Turkey’s population of 85 million are using or used cryptocurrencies.

Finally, Binance covers Peru as the fifth country leading crypto adoption. At least six Latin American countries have reached double-digit percentages in crypto adoption, and Peru is leading the pack with 16% of the nation having adopted crypto in some form, according to Binance.

On June 9th, El Salvador’s government announced that the country would be adopting Bitcoin as legal tender.

Beyond these five countries, Binance also lists Switzerland, India, China, the US, Germany, and Japan as other primary drivers in crypto adoption.

Despite crypto reaching the lives of 300 million people in 2021, this figure represents just 4% of the world’s population, leaving ample room for the technology to be expanded over the next several years, according to Binance.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Here’s Why Institutional Investment in Crypto Is Heating Up Dramatically, According to Big Four Auditor KPMG

by Dailyhodl

Big Four auditor KPMG says that institutional investors put a “significant amount” of money into blockchain and cryptocurrencies during the first half of 2021.

In a new report, KPMG says growing institutional investor participation is part of a widespread increase in the awareness of crypto assets and the digital asset industry at large.

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“As the blockchain and crypto sector has matured, so has the nature of its investors. In H1’21, a significant amount of institutional money flowed into the crypto space, highlighting the broadening of the investor base.

Investor awareness and knowledge of the sector is growing, with investors now having a much better understanding not only about crypto assets, but also the operational and procedural side of crypto – from custody and storage to storekeeping and the competitiveness and maturity of service providers.”

The accounting firm says that in the first half of 2021, the total global investment in blockchain and crypto reached $8.7 billion. This figure is more than double the $4.3 billion worth of investments made in the space in 2020, and exceeds the all-time annual record previously set in 2018, according to KPMG.

“Investment in blockchain and cryptocurrencies heated up dramatically in H1’21, with investment more than twice the level seen in 2020 and soaring past the previous annual record high set in 2018.”

In 2018, $7.2 billion was invested in the crypto space, according to KPMG.

The Big Four accounting firm further says that venture capital participation was heavy during the first half of this year, with various crypto startups managing to raise nine-figure sums.

“VC investment was very strong in the blockchain and crypto space. Numerous companies raised $100 million+ funding rounds, including BlockFi ($350 million), Paxos ($300 million), Blockchain.com ($300 million) and Bitso ($250 million).”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Bull Anthony Pompliano Launches Crypto Jobs Site To Boost Industry

by Dailyhodl

Morgan Creek Digital co-founder Anthony Pompliano has launched a new job board to boost the level of networking and communication within the emerging industry.

The Bitcoin bull tells his nearly half-million followers on Twitter to visit the crypto job marketplace dubbed PompCryptoJobs.com if they want to work in the crypto industry or are looking to fill in positions in their company.

The platform now features hundreds of job postings from digital currency exchanges Gemini and Coinbase, and crypto lending firm BlockFi.

The site caters to job seekers and companies from any location in the world.

PompCryptoJobs.com says its mission is to advance innovation in Bitcoin and cryptocurrency as it aims to be the premier job board for careers in the industry.

“Our platform allows the best candidates to search and access top companies in the industry. PompCryptoJobs is a simple, efficient, and effective solution for your hiring needs.”

The site earns revenue from prospective employers who pay between $200 to $2500 a month, depending on the number of their listings.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin (BTC) $ 25,715.89 3.46%
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