In a recent tweet, Changpeng Zhao (CZ), the CEO of Binance, highlighted the vulnerability of even the most seasoned crypto users, referencing the recent incident where entrepreneur Mark Cuban confirmed he was hacked for $870,000 on MetaMask. CZ emphasized the importance of security awareness and practices in the crypto space, pointing to an article he penned three years ago on Binance’s official blog.
The tweet from CZ read: “Mark Cuban Confirms Getting Hacked for $870K on MetaMask. This happens to the most experienced of crypto users. Read this article I wrote 3 years ago. There is a section about downloading software, wait 72 hrs, etc. Stay #SAFU.”
In the linked article titled “Keep Your Crypto #SAFU (CZ’s Tips)” on Binance’s blog, CZ delves deep into the nuances of crypto security. He stresses that while security is paramount, there’s a noticeable gap in security awareness among everyday users. He also notes the challenges experts face in designing user-friendly security setups that don’t compromise on robustness.
A few key takeaways from the article include:
The acknowledgment that no system is 100% secure. The goal is to make it “safe enough” based on the value of assets being protected.
The importance of understanding basic security concepts, especially when deciding between storing coins personally or on a centralized exchange.
The three primary objectives for securing coins: preventing theft, avoiding personal loss, and ensuring a method to pass them on in unforeseen circumstances.
A detailed discussion on the pros and cons of different storage methods, including personal devices, hardware wallets, and centralized exchanges.
The significance of securing one’s email account, using strong and unique passwords, and the role of two-factor authentication (2FA).
CZ’s emphasis on security comes at a time when the crypto market is buzzing with activity and attracting a new wave of participants. His insights serve as a reminder that while the crypto landscape offers immense opportunities, it also comes with its set of challenges, especially in the realm of security.
In conclusion, as the crypto community continues to grow and evolve, the importance of security cannot be overstated. Whether you’re a seasoned expert or a newcomer, staying informed and vigilant is the key to safeguarding your assets in the digital realm.
Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.
Nifty’s, a notable platform focused on Web3 creators, announced the cessation of operations earlier today.
Founded with the goal of becoming a beacon for digital art collectors and creators, Nifty’s made a pivot earlier this year to focus on building products for Web3 creators. This strategic decision came as a response to challenges faced in a difficult market and the need to maximize limited resources.
However, despite diligent efforts to secure investment opportunities, the company found itself at a financial dead end. The anticipated investments did not materialize, leaving Nifty’s without the necessary capital to continue.
Notable NFT (Non-Fungible Token) projects released on Nifty’s include “The Matrix Avatars,” “Looney Tunes: What’s Up, Block?,” “Game of Thrones: Build Your Realm,” and “Bullet Train.” Fans of these and other projects, such as “Space Jam: A New Legacy” and “Shark Week,” have been provided with instructions to export their private keys and preserve their collections via Nifty’s support page.
In a farewell statement, the Nifty’s Team expressed gratitude to its community and partners and assured that they had decentralized all the NFT media and redistributed the NFTs on the Polygon blockchain, except those already on Ethereum. This measure has been taken to ensure that these projects live on, even as Nifty’s operations wind down.
For updates on Warner Bros. projects, Nifty’s directed users to follow specific Twitter handles: @BuildYourRealm, @LooneyTunesNFT, and @matrix_avatars.
Though Nifty’s journey has come to an end, the company expressed its enduring belief in the power of digital ownership and the ongoing story of Web3. It concluded its statement with a hopeful sentiment, looking forward to the future of the Web3 community.
The shuttering of Nifty’s operations serves as a poignant reminder of the volatile nature of the tech and digital art industries, where innovation, investment, and adaptability often determine success or failure.
About Nifty’s
Nifty’s, a new social marketplace for NFTs, once launched a collection of “Space Jam: A New Legacy” NFTs and a $10 million seed investment led by notable investors. Announced first in March, 2021 and backed by billionaire Mark Cuban, the platform has distinguished itself from Nifty Gateway, another NFT marketplace. Nifty’s partnered with Warner Bros. to introduce officially licensed “Space Jam” collectibles, showcasing NBA star LeBron James with classic “Looney Tunes” characters.
Days after going tough on metaverse real estate, Mark Cuban, the billionaire owner of the basketball team Dallas Mavericks, has been slammed with a class action lawsuit for his role in promoting the bankrupt crypto platform Voyager Digital.
The class action suit was filed by the Moskowitz Law Firm in the United States District Court in Southern Florida and is demanding that Cuban, alongside Voyager Digital’s CEO, Stephen Erlich, and Dallas Mavericks pay back those who have suffered losses through the platform whom it said its products were paraded as a Ponzi scheme.
The lawsuit alleges that the business model of Voyager Digital was hinged on frequent promotions from Mark Cuban.
“Cuban and Ehrlich, went to great lengths to use their experience as investors to dupe millions of Americans into investing—in many cases, their life savings—into the Deceptive Voyager Platform and purchasing Voyager Earn Program Accounts (‘EPAs’), which are unregistered securities,” the lawsuit alleges.
He is known as one of the first Wall Street veterans to embrace digital currencies, and he is particularly known as a lover of Bitcoin (BTC) and Dogecoin (DOGE), a tag he competes with Elon Musk for. He took his advocacy to Voyager Digital, and per the lawsuit;
“Voyager Platform relied on Cuban’s and the Dallas Maverick’s vocal support and Cuban’s monetary investment in order to continue to sustain itself until its implosion and Voyager’s subsequent bankruptcy.”
Voyager Digital declared bankruptcy after halting withdrawals on its platform, a situation highlighting its disrupted business opportunity with the inability of Three Arrows Capital (3AC) to pay as much as $670 million it owed the company.
Considering its current woes, it is unclear how well the company will fare with this new lawsuit. Still, it is very focused on bringing succour to some of its customers, which is now necessary since the firm’s representatives advised against accepting the offer from FTX and Alameda Research.
Days after going tough on metaverse real estate, Mark Cuban, the billionaire owner of the basketball team Dallas Mavericks, has been slammed with a class action lawsuit for his role in promoting the bankrupt crypto platform Voyager Digital.
The class action suit was filed by the Moskowitz Law Firm in the United States District Court in Southern Florida and is demanding that Cuban, alongside Voyager Digital’s CEO, Stephen Erlich, and Dallas Mavericks pay back those who have suffered losses through the platform whom it said its products were paraded as a Ponzi scheme.
The lawsuit alleges that the business model of Voyager Digital was hinged on frequent promotions from Mark Cuban.
“Cuban and Ehrlich, went to great lengths to use their experience as investors to dupe millions of Americans into investing—in many cases, their life savings—into the Deceptive Voyager Platform and purchasing Voyager Earn Program Accounts (‘EPAs’), which are unregistered securities,” the lawsuit alleges.
He is known as one of the first Wall Street veterans to embrace digital currencies, and he is particularly known as a lover of Bitcoin (BTC) and Dogecoin (DOGE), a tag he competes with Elon Musk for. He took his advocacy to Voyager Digital, and per the lawsuit;
“Voyager Platform relied on Cuban’s and the Dallas Maverick’s vocal support and Cuban’s monetary investment in order to continue to sustain itself until its implosion and Voyager’s subsequent bankruptcy.”
Voyager Digital declared bankruptcy after halting withdrawals on its platform, a situation highlighting its disrupted business opportunity with the inability of Three Arrows Capital (3AC) to pay as much as $670 million it owed the company.
Considering its current woes, it is unclear how well the company will fare with this new lawsuit. Still, it is very focused on bringing succour to some of its customers, which is now necessary since the firm’s representatives advised against accepting the offer from FTX and Alameda Research.
Comedian and former Daily Show host Jon Stewart said Dallas Mavericks owner and billionaire Mark Cuban broke down the intricacies of the crypto space in practical terms.
Speaking to Stewart on a Thursday podcast, Cuban said he didn’t focus on the price speculation around cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE), comparing it to “gamesmanship” akin to that of stocks. The Dallas Mavericks owner explained some of the basics of the space to Stewart, calling it “decentralized and trustless,” with token holders having a “typically equal vote” to determine the direction of each project — characteristics that appealed to the billionaire investor.
“The investments I’m making now are not in traditional businesses,” said Cuban. “80% of the investments I make that are non-Shark Tank are in and around cryptocurrencies.”
Cuban theorized how a decentralized autonomous organization, or DAO, might work in providing colonoscopies and other necessary medical procedures. He also posited that many new businesses modeled after the crypto economy — decentralized and trustless — would disrupt traditional institutions including banking, insurance and the book industry.
“It’s 1995 for cryptocurrencies,” said Cuba, referencing that the crypto industry was still in its early days akin to the internet:
“[Cryptocurrency is] hard to understand and it’s a hassle, but ten years from now, these applications — there’s going to be those that succeed — that’ll create its own economy, and just like the internet days, it’ll be the younger generation that figures it out first and is innovative.”
The Shark Tank star’s stance on crypto assets has changed significantly in the last few years, with him once saying he would “rather have bananas” than gold or BTC. The billionaire investor has since backed Polygon, invested hundreds of thousands of dollars in tokenized carbon offsets, and called for more regulations on stablecoins.
Related:Mark Cuban owns 30% ETH because it’s ‘as close as we have to a true currency’
Stewart hinted at having a better grasp on the space as a technological and economic issue rather than one entirely consisting of a currency system, but still expressed concern about leaving decisions to any crowd. The comedian previously joked about starting a token project with his namesake in 2021:
And if you like the “website” you’ll love my next project. Crypto “Stewcoin”!
Speaking to CNBC on Jan. 11, the billionaire investor said he looks for utility when researching crypto investments. He followed up with “tokens trading are the least important part of crypto” in a Tuesday tweet.
Decentralized platforms leveraging smart contract technology and DAOs are his preferred choices, he stated.
Tokens trading are the least important part of crypto. Being able to create businesses on decentralized platforms leveraging smart contracts, validators, DAOs and more, create a unique ability to offer more efficient biz processes and disrupt industries. https://t.co/qHrse3S7fQ
— Mark Cuban (@mcuban) January 11, 2022
NFT and Ethereum Maxi
He told CNBC that this mantra also applies to everyday investors and what they should look for when considering investing in a crypto-related project.
He stated that tokens that accrue value from the utility their platform creates could be valued like stocks before adding:
“Think eth/polygon tokens that are needed to transact on those networks. You have to buy them to leverage the applications you want to use. Networks with popular apps will have valued tokens.”
Cuban is big on smart contracts and Ethereum, previously describing himself as an “Ethereum maxi” in early November. He is also into non-fungible tokens (NFTs), with his burgeoning portfolio very heavy on the NFT side.
ADVERTISEMENT
It includes investments in Lazy, NFT Genius, Fabrica, Nifty’s, Mintable, NFT42, CryptoSlam, OpenSea, and SuperRare. Non-NFT related investments include a number of DeFi and layer-2 scaling networks such as DeFi Alliance, Zapper, Polygon, Injective Protocol, and Arbitrum.
Cuban is not so fond of the Metaverse land, however. When asked about investing in virtual land, he said he was “not a fan” and was not sure if they were even collectibles.
“At some point they may have some utility if the metaverse they are in has enough users and the location is needed for something. Until then I’ve avoided,”
Big on DOGE
Cuban is big on Dogecoin, though, having expressed a preference over Bitcoin. As reported by CryptoPotato, the Shark Tank investor recently said Bitcoin could not be considered a hedge against inflation “and never will be.”
In his view, Dogecoin makes a better alternative as a payments network, echoing the sentiments of Elon Musk, who pumped DOGE in early 2021 but actually invested in BTC.
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.
The owner of the Dallas Mavericks – Mark Cuban – argued that Bitcoin (BTC) could not be considered a hedge against inflation. He once again opined that Dogecoin (DOGE) is better suited for payments than the primary cryptocurrency.
‘It’s Not And Never Will Be’
Over the past couple of years, the American billionaire Mark Cuban has displayed a controversial stance on bitcoin. At the beginning of 2020, he was clearly not an advocate of the primary cryptocurrency, saying it is easier to trade bananas than BTC.
Later on, he started softening his viewpoint, and last year he described it as a financial religion, which is better than gold. Contrary to his previous negative comments, he then highlighted the asset as easy to trade, store, and create.
During a recent verbal clash with the prominent YouTube personality Preston Pysh on Twitter, though, Cuban said BTC will never become an inflation hedge.
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
ADVERTISEMENT
Not long ago, his NBA team started accepting bitcoin and other crypto payments for game tickets and merchandise on its online store. However, the club’s owner explained that fans are not keen on spending their bitcoins as they prefer to hold the asset long-term, expecting its price to increase in time.
On the other hand, many employ Dogecoin for purchases as they have an entirely different attitude towards the meme token:
“We sell thousands and thousands of dollars per month during the off-season, and once the season starts, I expect that to happen per week in Dogecoin – and that’s really because it’s easy to spend, it doesn’t appreciate so much that people want to hold it forever.”
Look at DOGE’s Performance for The Past Year
In his most recent tweet, Cuban reiterated that Dogecoin is “good for spending and better than a lottery ticket.”
Cuban added that it might have lost some significant ground during the current cryptocurrency dip, but it has marked a notable performance for the last 12 months. As of writing these lines, DOGE is up nearly 1,700% on a 12-month timeline.
Speaking of his personal investment in the meme coin, Cuban recently revealed he had increased it from $500 to $1,500, explaining he bought “a little bit more for fun.” Back then, he described Dogecoin as a way to understand how digital assets function, not a successful investment tool:
“I’ve never told anybody it’s a great investment, I’ve often said it’s a great way to understand how cryptocurrency works, how to invest in the market.”
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.
2021 was a breakout year for the cryptocurrency market in many respects and most investors are absolutely thrilled that Bitcoin (BTC) price established a new all-time high of $68,789. In the same timeframe, Ether (ETH) went on a parabolic rally which saw its price gain 565% from Jan. 1 to hit a record high at $4,859 on Nov. 10.
While it was a banner year for large cap cryptocurrencies, some of the biggest gains and most impactful developments came from the altcoin market where decentralized finance (DeFi) and nonfungible tokens (NFTs) rallied by thousands of percent and helped to usher in a new level of awareness and adoption for blockchain technology and cryptocurrencies.
Here’s a look at five altcoin projects that made significant contributions to the cryptocurrency ecosystem in 2021.
Uniswap
The decentralized exchange Uniswap (UNI) has arguably had the greatest impact on the crypto ecosystem as a whole since launching in the summer of 2020, with the DEX seeing significant growth throughout 2021 as it helped facilitate the launch of thousands of new crypto projects by removing the barriers to launch that existed on centralized exchanges.
Data provided by Dune Analytics shows that Uniswap has been the dominant DEX throughout the year and it has consistently seen more trading volume than all other DEXs combined.
Monthly DEX volume by project. Source: Dune Analytics
As seen on the chart above, the volume traded on decentralized exchanges really started to ramp up in the second half of 2021 led in large part by activity on Uniswap.
Throughout 2021 Uniswap led the field in development as well, with the developers behind the protocol announcing the release of Uniswap v3 in March. The v3 upgrade included multiple protocol upgrades and it built the foundation to integrate layer-two scaling solutions like Optimism and Arbitrum with Uniswap as a way to help reduce the transaction costs and processing times for users.
Aave
Aave (AAVE) is a DeFi lending protocol that allows users to deposit their tokens and lend them out as a way to earn a yield or pledge them as collateral in order to borrow another asset.
As the DeFi sector started to gain traction in early 2021, AAVE emerged as a community favorite thanks to the wide swath of crypto assets supported and the backing from some well-funded players.
Over the course of the year, AAVE expanded its capabilities and reach with the release of AAVE v2 which added support for Polygon, a layer-two scaling solution, and Avalanche, which is a popular cross-chain blockchain network.
Total liquidity on the AAVE protocol. Source: Aave
As a result of these added capabilities, the total liquidity available on the AAVE protocol has surpassed $25.7 billion, making AAVE the top-ranked DeFi protocol by total value locked (TVL).
Curve
Curve Finance is a stablecoin-focused protocol that utilizes an automated market maker to manage liquidity on the platform and across the DeFi ecosystem.
Stablecoins have emerged as a foundational piece for the cryptocurrency community as a whole in 2021 because they provide sufficient liquidity for the market and a safe haven for traders seeking shelter during periods of high volatility.
The growing importance that stablecoins have benefited Curve protocol and its native CRV by accelerating its integration of stablecoins into many of the top DeFi protocols, including the Yearn.Finance ecosystem and Convex Finance.
Despite the fact that a significant portion of the assets locked on the Curve protocol are stablecoins, the platform now ranks as the second leading protocol in terms of TVL behind AAVE, with data from Defi Llama showing that $21.77 billion in value is now locked in Curve vaults.
Total value locked on Curve. Source: Defi Llama
Curve has also integrated with many of the most active blockchain networks, including Ethereum, Avalanche, Harmony, xDAI, Polygon, Arbitrum and Fantom, which is further evidence of the protocol’s quest to be the stablecoin liquidity provider for the entire crypto market.
Related:US Financial Stability Oversight Council identifies stablecoins and cryptos as threats to financial system
Axie Infinity
Axie Infinity is a play-to-earn (p2e) trading and battling game that allows participants to collect, breed, raise, battle and trade NFT-based creatures called Axies.
The p2e model emerged as a new fan favorite over the course of 2021 because it provides users with the ability to earn a daily income alongside their gameplay, which offers a few unique advantages when compared to the traditional pay-to-play model.
Alongside the rise in popularity of Axie Infinity came a new all-time high for the platform’s native AXS token. As the token stormed to new highs, the platform generated a daily revenue of $17.55 million at its height on August 6.
Axie Infinity price vs. total revenue. Source: Token Terminal
Axie Infinity was also one of the earliest projects to establish the trend of migrating away from the Ethereum network because of high fees and slow transactions. Earlier in the year the project migrated to the Ronin sidechain and in November the project launched its own DEX called Katana.
Dogecoin
Dogecoin is an open-source proof of work cryptocurrency that leads the field of “meme” coins that made headlines all throughout 2021.
While the project has few contributions on the technological or development front, frequent shilling from the likes of Tesla CEO Elon Musk and Shark Tank star Mark Cuban helped to push Doge into a 23,746% rally that saw the price rise fr from $0.0031 on Jan. 1 to an all-time high of $0.74 on May 8.
DOGE/USDT 1-day chart. Source: TradingView
On top of the gains seen in DOGE price, the token received increased attention after it was announced that it would be used to help fund the launch of a lunar satellite by SpaceX and the Dogecoin movement also kicked off a meme-coin rally and spawned a bevy of copy-dog projects li Shiba Inu (SHIB) and Dogelon Mars (ELON).
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Shark Tank star and billionaire investor Mark Cuban is teaming up with soda brand Dr. Pepper to offer a Bitcoin (BTC) college tuition grant.
Jill B., a business major at UC Berkeley, and Kaitlyn O., a computer science major at Boston University, were selected from a pool of student applicants to compete in a “Bitcoin toss,” according to a press release from Dr. Pepper.
The winner of the live coin toss, which is scheduled for Saturday, will walk away with $23,000 worth of Bitcoin for tuition support.
Crypto’s presence in the world of higher education has been growing in 2021, both in terms of curriculums and finances.
In October, the Aresty Institute of Executive Education at the Wharton University of Pennsylvania announced a partnership with crypto exchange giant Coinbase to allow students to pay for a blockchain-focused curriculum with Bitcoin, smart contract platform Ethereum (ETH) and stablecoin USD Coin (USDC). The partnership is a first for any Ivy League institution or US business school, according to the press release.
Developed in partnership with leading blockchain economic consulting firm Prysm Group, the university’s six-week Wharton certificate program is designed for business and technology professionals seeking a crash course in blockchain and digital asset economics.
Back in January, Coinbase reported that Ivy League endowment funds had reportedly been buying Bitcoin through Coinbase and other crypto exchanges for months.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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.
