Cryptocurrency & Mining News - Page 1
One of the world's most recognizable cryptocurrency exchanges, Crypto.com, has announced it has been hacked.
Crypto.com took to its official Twitter account to announce that it has noticed some of its users reporting "suspicious activity" on their accounts, some users reported that coins were missing from their wallets. In response to these reports from users, Crypto.com decided it was best to pause all withdrawals across its entire platform, which prevents hacker(s) from moving stolen assets off the platform into other accounts. The hack announcement marks the first cryptocurrency exchange hacking of 2022.
The exchange followed up with another tweet that stated, "all funds are safe" and that the hack is being treated with an "abundance of caution". In response, Crypto.com wrote that "security on all accounts is being enhanced," which will require users to sign back into the Crypto.com app and exchange, and reset their two-factor authentication. Once these steps are complete, withdrawals will be re-enabled across the platform.
The Metaverse is being eyed by many companies around the world, and now one very well-known company has announced its plans to join.
According to a report from CNBC, Walmart filed several trademarks application with the US Patent and Trademark Office in December 2021 that state an intention for the company to sell virtual merchandise. One of the trademark applications states that Walmart intends to sell various virtual goods that fall under the following categories; electronics, appliances, apparel, home goods, toys, and personal care products.
Notably, another filing shows that Walmart is interested in creating its own cryptocurrency payment system as well as developing its own collection of Non-Fungible Tokens (NFTs). According to trademark attorney Josh Gerben, who spoke to Business Insider, the language that is used throughout the trademark filings shows "there's a lot of planning going on behind the scenes about how they're going to address cryptocurrency".
According to the chairman of the Federal Reserve, the central banking system is "ready" to release its report on cryptocurrency.
Jim Powell dropped the news regarding the upcoming report during his re-nomination testimony that was held in front of the Central Banking Committee on Tuesday. Powell was asked about the status of the upcoming report by Idaho Senator Mike Crapo, and the Fed chairman replied by saying, "The report really is ready to go".
Powell has previously said that the Federal Reserve is looking into the possibility of creating its own digital dollar, following China launching its own digital yuan. Based on these and other previous statements from the Fed chair, it can be assumed that the report will focus on Central Bank Digital Currencies (CBDC) and touch on several other issues in cryptocurrency. If you are interested in reading more about this story, check out this link here.
One of the largest cryptocurrency exchanges in the world just announced a nearly company-wide shutdown as it believes its employees are in need of a break.
Coinbase's chief people officer L.J Brock took to the company blog to announce that "nearly the entire company will shut down" in an effort to give employees time to recharge their batteries after completing long periods with intense workloads. Brock states that Coinbase employees aren't specifically limited to a 40-hour workweek and that depending on the progress timeline for the work, employees may have to "pivot at a moment's notice", which can risk employees burning out.
Brock writes that Coinbase is aware that during 2020 many of its employees were taking time off from work because they either didn't want to ask fellow employees to cover their shift or because they were afraid they would fall behind their work. To combat this, Coinbase implemented a single "recharge week" at the end of 2020 and two recharge weeks at the end of 2021. Now, the company plans on having "four weeks of coordinated recharge time" that will save employees from burnout.
In the first deal of its kind, American non-profit news agency The Associated Press (AP) will tap the growing NFT market to fund future journalistic endeavors.
Leading news firm AP plans to launch a new NFT marketplace on January 31 where it will sell cryptographically-signed versions of its award-winning photographs. The AP's vast library of photographs chronicle 175 years of American and world history, and the NFT collection will include both contemporary images of modern life as well as photos detailing historic events.
The AP's new photo NFTs will cover topics like space, war, climate, and worldwide developments complete with robust metadata details. "Each NFT will include a rich set of original metadata offering collectors awareness of the time, date, location, equipment and technical settings used for the shot," reads the press release.
NASA's James Webb Space Telescope (JWST) recently completed all major deployments, and now the Webb team is sitting in some well-deserved breathing room.
NASA recently took to its blog to announce that the Webb team is moving forward with aligning all 18 of the observatory's iconic gold-coated mirrors, a process that will take around 5 months to complete. At the same time, the Webb team will be preparing the extremely sensitive instruments that will then relay the first batch of images back to Earth in the summer of 2022.
Now that Webb is approaching its destination and is moving into the new phase of its process of unfolding to operational capabilities, some individuals are wondering how long the life of Webb will be. Bill Ochs, the Webb project manager, told reporters in a livestream that Webb's lifespan depends on the amount of propellant the observatory has.
PayPal has made a very interesting announcement regarding the cryptocurrency space and how the company plans on moving towards adopting it.
PayPal is no stranger to the cryptocurrency industry as the company approved trading of cryptocurrency to all its users on its platform back in 2020. This change allowed for US PayPal users to complete transactions with cryptocurrency while also allowing users to purchase cryptocurrencies on select exchanges.
Now, PayPal's General Manager of Blockchain, Crypto, and Digital Currencies, Jose Fernandez da Ponte, has indicated to Bloomberg that the company is considering releasing its own stablecoin. Engadget reports that a software developer Steve Moser discovered code and images for a "PayPal Coin" and gave it to Bloomberg.
Imagine your Tesla Model 3 electric vehicle sitting in your driveway not being used -- so what better way do make some money, than to mine cryptocurrency from your Tesla -- might as well, right?
That's just what Siraj Raval did with his flashy Tesla Model 3 vehicle, using an Apple Mac mini M1 system with some discrete GPUs, which are unknown at this point, but it would be a few discrete GPUs at the very least as Raval is making around $800 per month. Raval is aware that mining cryptocurrency from his Model 3 voids Tesla's warranty, too.
The price of Ethereum hit a peak towards the end of 2021, which is when Rajal said he was making $800 per month mining from his Tesla Model 3, with Bitcoin miner Alejandro de la Torre adding: "The main component is the price of the electricity. If it's cheaper doing it through an electric vehicle, then so be it". As for the crypto mining power of the Model 3, Tesla hacker and crypto miner Thomas Sohmers said: "The best estimate I would have for the hashrate for the GPU in the Model 3 would be around 7-10 MH/s. Currently, at 10 MH/s, that would generate revenue of about $13.38 worth of ether, before any expenses. The difficulty is so high...I could make more money working at McDonald's".
Disney is taking some steps towards adopting the Metaverse as the company has been approved for a patent that creates new attractions at Disney theme parks.
According to the patent that was approved on December 28, 2021, Disney is moving towards developing new technology that will track visitors to its theme parks and then generate personalized 3D effects onto physical spaces located near the individual. This new technology doesn't require virtual reality (VR) or augmented reality (AR) headsets, and when created, it will be a major step towards Disney's own Metaverse.
The technology that Disney has patented is for a "virtual-world simulator in a real-world venue". Disney has previously expressed its interest in the Metaverse as the company's CEO Bob Chapek stated during a November 2021 earnings call that Disney is preparing to bring physical and digital assets more closely together, which will allow for "storytelling without boundaries in our own Disney Metaverse."
On January 5, the price of Bitcoin (BTC) dove by around 7%, and now reports indicate that the world's largest cryptocurrency exchange has bought the dip.
Back in 2019, Binance took to its official Twitter account to announce a new wallet initially intended to be used to issue new crypto-pegged tokens onto the Binance Smart Chain, beginning with BTCB and BEP2 pegged to Bitcoin. However, it seems that the wallet address has turned into one of Binance's cold storage wallets as all it does is continue to accumulate Bitcoin around the $40,000 mark.
On Tuesday this week, the above wallet address purchased 43,000 BTC at the average price of $46,553.68, which has raised the total number of BTC contained in the wallet to 121,396 BTC, worth about $5 billion. CoinTelegraph reports that the wallet address is referred to as "Binance BTC reserve wallet address", and has never sold any Bitcoin since its creation.