chainlink cayman islands scamThis Week In Blockchain on 17th May with Conor Svensson - Crypto, DeFi, NFT, Enterprise

Dogecoin Co-Creator Sold All His Coins For Just - Benzinga May 4, · Dogecoin DOGE, which hit an all-time high near the 45-cent level on Monday night, has now surpassed automaker Honda Motor Co. Ltd. HMC in terms of market capitalization. What Happened: The joke What is Cardano ADA - A Complete GuideeToro ADA has been a top 10 cryptocurrency by market capitalisation since it was released in 2023. Its technology is advancing at rapid speed and looks to take on the likes of Ethereum in building a massive blockchain ecosystem. Cardano distinguishes itself by using mathematical principles in its consensus mechanism and a unique multilayer architecture. chainlink cayman islands scam This Week In Blockchain on 17th May with Conor Svensson - Crypto, DeFi, NFT, Enterprise
chainlink cayman islands scam Dogecoin price analysis: DOGE soars to $0.0844... This Week In Blockchain on 17th May with Conor Svensson - Crypto, DeFi, NFT, Enterprise
Hi, Im Conor Svensson, founder and CEO of  Web3 Labs and this is your Week in Blockchain   on Monday the 17th of May 2021. The highlights  this week include Elon Musk changing his tune   on Bitcoin while continuing to promote Doge,  Vitalik Buterin and significant charitable   donations with meme coins, the digital Yuan  edging closer to widespread roll out in China,   Coinbase becoming the most popular app on  the app store, Uniswap flipping Bitcoin,   ebay adding NFT support and Merriam Webster adding  the word NFT to the dictionary and having a token   to boot. Big news this week was Tesla announcing  that theyre going to stop accepting Bitcoin for   car purchases, not too long after they announced  that theyd start accepting them in the first   place. Theyve said that this is due to their  concerns about the great cost to the environment   of the cryptocurrency. Off the back of this  we saw a sharp decline in Bitcoins price.   However theres still been lots and lots of  activity off the back of it with Dogecoin with   Elon Musk continuing to talk about that in  the last weeks and theres been a few things   that have popped up. One of these is the SpaceX,  Elon Musks space company that makes spaceships,   is going to be accepting Dogecoin payments and  it plans to launch a Doge 1 mission to the moon   in 2022. The idea here is that theyll accept  Dogecoin payments to help fund this mission   which will be launched next year. Elon Musk also  asked the Twittersphere if they wanted Tesla to   accept Doge and 78% unsurprisingly came back and  said yes. He also claims that hes working with   the Doge devs on potential improvements.  He tweeted that hes engaged with them on   improving the actual transaction of efficiency.  The other thing though thats fascinating is that   the Dogecoin developers say theyve been working  with Elon Musk since 2019 apparently and hes been   encouraging them to improve the transaction  throughput and provided lots of advice and   input allegedly during this period. Coinbase  have come out and said theyre going to start   supporting Doge as well as other assets because  theyre certainly losing out a lot to other   exchanges like Binance which have a much wider  portfolio of different coins that people can trade   on the platform. Mark Cuban has countered Elon  Musk and said that his basketball team the Dallas   Mavericks will continue to accept Bitcoin. I  think the driver he mentioned is that in his view   replacing gold as a store of value will help the  environment and ultimately shrink the big banks   and coin usage which will have more widespread  benefits for society as a whole. Off the back   of this news, the proof of stake coins Cardano  and Polygon, one of the scaling coins for the   Ethereum network weve mentioned previously,  reached all-time highs. One of the other   amazing things that happened around the same time  was that Vitalik Buterin, the creator of Ethereum,   offloaded a whole load of dog-themed  meme coins that he had been receiving.   He has some crypto wallets which are well known  and so a number of projects tend to throw coins   to these wallets with the hope that hell  start promoting them. He actually received   more than a billion dollars worth of these  meme coins including the Shiba Inu coin,   Dogelon and Akita Inu. These crypto currencies  have been taking off following Dogecoins rally,   theyre built around similar memes and they  have much larger token supplies. This week in   a single transaction, Vitalik Buterin donated 50  trillion SHIB tokens worth $1.2 billion to Indias   Covid Relief Fund that was set up by Sandeep  Nailwal whos the co-founder and CEO of Polygon,   the proof-of-stake Ethereum scaling solution that  we mentioned just now. This was in addition to   last month when Buterin donated about $600,000  in Ether and the Maker token to the fund. Its   a really great initiative from Vitalik to do this  but it caused the price of Dogecoin to really go   down because it showed that he wasnt interested  in these tokens. The asset manager VanEck has   become the first firm to submit an application for  an Ether ETF with the United States Securities and   Exchange Commission. They want to make it easy  for retail and institutional investors to gain   access to Ether, which is the second largest  cryptocurrency by market cap, without having to   own it. VanEck actually submitted a Bitcoin ETF  proposal to the SEC previously and theres been   a lot more noise about the Bitcoin ETF proposals  to the SEC because so far none of them have been   accepted. The Winklevoss twins being prominent  examples of the people that have been trying to do   this for a number of years now. However, theres  apparently optimism here that maybe one of these   applications will get through successfully,  especially with the success with both Bitcoin   and Ethereum or Ether ETFs getting listed on the  Canadian stock exchanges recently. Chinas digital   Yuan is inching closer to a full rollout via  AliPay. One of the worlds largest banks in China,   ICBC, has allowed users to activate Chinas e-CNY  wallets from inside the banks mobile app. AliPay   has also reported enabling the e-CNY module  for some users inside their payments app too   which basically means that Chinese users  have additional methods to participate in the   long-running digital Yuan test. According to the  top charts listed on the Apple app store, Coinbase   is the most popular ahead of Tik Tok, YouTube,  Facebook, Instagram and trading app for Robin   Hood. Just seeing that shows how much interest  there is right now in cryptocurrency trading.   Where it could go from here remains to be  seen of course but thats a lot of people   using the Coinbase app which just shows that it  really has crossed over into the mainstream now.   Facebooks Diem is going to be launching a US  dollar backed stable coin. We mentioned about this   a few weeks ago but the Diem foundation have now  withdrawn an application for a FINMA license which   was based out in Switzerland because they want to  focus their stable coin on the US participants.   FINMA noted in a statement that the application  for a license has been in place since April 2020.   US officials are investigating crypto exchange  Binance amid the huge boom thats been happening.   Officials from the department of justice and the  Internal Revenue Service in the United States are   seeking information about Cayman Islands based  Binance from people with intimate knowledge of   the companys operations. Its not clear  exactly what theyre probing into but   the report has stated that prosecutors  within the DOJs bank integrity unit,   who are charged with the complex international  cases involving money laundering or at least   partly, are leading the inquiry. Bloomberg pointed  out that more illicit funds flowed through Binance   in the last year than any other crypto exchange  according to Chainalysis. Of course though,   because its the worlds largest crypto exchange  its not a great surprise in certain respects that   that could be the case. The investment bank UBS  are hot on the heels of Goldman Sachs and are   looking at ways to offer crypto investments to  their rich clients. Theyre currently assessing   what offers they can create but again what they  want to do is give exposure to their clients.   UBS being one of the worlds largest wealth  managers, theres just a lot of client demand   for the asset class at the moment. Grayscales  parent company have bet one million dollars on   Dogecoins decline. Barry Silbert the founder and  CEO of Grayscale revealed that his firm has put a   one million dollar short position on Dogecoin.  In a tweet he said now the time has come for   people to move back across to Bitcoin, it being in  his view the more stable and serious asset. But,   given everything that Elon Musks doing here Im  sure hes generating a lot of counter interest   in Doge which is being reflected by the meteoric  price rise weve seen. Microstrategy have bought   another 271 Bitcoin, adding to their existing  substantial position in the cryptocurrency and   MoneyGram in the US is now allowing retail Bitcoin  buying. Tether have finally released the breakdown   of its $42 billion in crypto reserves. They claim  that they hold over 75% of their reserves in cash   and cash equivalents. The remaining is in loans  to unaffiliated entities and corporate bonds and   precious metals, in addition to some additional  investments. Adhara, the blockchain technology   company have who focus on tokenized blockchain  banking solutions such as cdbcs and interbank   payments, have raised their seven and a half  million series A round. Microsoft has announced   this week that theyre going to stop supporting  their Azure blockchain service in the autumn.   However, ConsenSys who provides the Quorum  technology which it uses are in effect going to   take over the running so theres a migration path  there for users. The game developer Ubisoft has   unveiled the next batch of crypto  startups it plans to help grow.   Ubisoft are very well established in the world of  gaming, theyre behind huge game franchises like   Assassins Creed and Just Dance. Theyve started  to invest in the crypto space by finding crypto   based gaming companies to support. In the  world of DeFi this week weve seen another   high profile hack. This time it was Rari Capital  that had an exploit which drained $10 million   worth of ETH from their pool, which was 60% of all  users funds. Apparently though theyre looking to   use their developer fund to help compensate the  victims of this so hopefully all is not lost for   them. Its been an another interesting week for  Uniswap, we recently spoke about their V3 release,   Vitalik Buterin posted on their forum this week  that UNI should actually be an oracle token. The   reason being is that algorithmic stable coins  need an oracle for the price of ETH and USD   in order to function and also synthetic assets  need an oracle for the price of ETH denominated   in whatever asset theyre mirroring. He recommends  that Uniswap and the UNI tokens step in and   provide such an oracle that could be modeled  after the protocols Augur or UMA. This would   be to specialize in providing price data thats  robust and extremely costly to manipulate an   attack. Currently the most “governance-minimized  stablecoins” are using Chainlink as their oracle   but in his view its really valuable for many  oracle use cases. Its a very complex system with   many features and the incentives are not as clear  as they could be potentially. The other thing   that happened this week was that Uniswap flipped  Bitcoin on its daily revenue. Its generated over   $7.1 million in fees versus Bitcoins $4.6 million  during a 24-hour period in the last week. Another   big announcement is that the DeFi lending  platform Aave revealing a permissioned   pool for institutions. The idea here is theyll  have permissioned DeFi pools for lending assets   that will be subject to KYC and AML restrictions.  This will be fascinating to see how it plays out   because its one of the leading DeFi providers  opening their platform up in a way that could be   institutional friendly. The GoodFi coalition  have added more industry leaders. The GoodFi   coalition have the goal of being able to  support 100 million DeFi users by 2025.   Seeing more people joining this initiative is a  great thing for decentralized finance because,   for anyone whos used it, its still quite clunky  and its slow to to work with on a number of   platforms so and its great to see this initiative  getting more momentum. The 1inch network have   launched on the Polygon network. They aggregate  some of DeFis most essential projects into   one app. The reason for going live on Polygon,  which we mentioned earlier on today in a different   context - its the network that provides a  scaling solution built on top of Ethereum,   is to actually provide lower transaction fees  and faster transaction times for their users   which is one of the things that Polygon does  very well. Cardano are getting ever closer to   having a DeFi offering with what theyve called  their five million dollar deFIRE fundraiser.   This platform will provide execution services on  decentralized exchanges for token swaps, order   routing services across the centralized exchanges  and intermediary services between wallets and   decentralized exchanges. One of the things that  was spoken about earlier on this year was how   Cardano is going to in effect integrate tokens  natively into their protocol so youll be able to   swap ADA for other tokens rather than it be sort  of an abstraction like it is in Ethereum. Again   seeing more movement happening in Cardano and  getting closer to launch, I think is making a lot   of people quite excited about it. In the world of  NFTs, the Merriam-Webster dictionary are going to   auction off an NFT of its new definition of an  NFT. Theyve added the definition of an NFT to   its dictionary and theyre auctioning off a token  this week. The definition itself defines an NFT   as a unique digital identifier that cannot  be copied substituted or subdivided that is   recorded in a blockchain and that is used  to certify authenticity and ownership as a   specific digital asset and specific rights related  to it. So, for those of you who are struggling to   explain what an NFT is you can point people to the  dictionary now! Christies have auctioned off nine   Crypto Punk NFTs for $17 million. We mentioned  that these were being listed in a previous issue   and theyve obviously sold for a significant  price which isnt that unexpected given that   they came from Lava Labs who really are one of the  pioneers of the NFT movement and theyve certainly   been in the space for a long time. We mentioned  last week about their Meebit tokens which sold   really really quickly, so clearly what theyre  creating here is perceived as having a lot of   value within the NFT community. Ebay are also  getting involved in the NFT game allowing sales   of NFTs on their platform. Users can bid for NFTs  as they would for any physical item, however all   payments will be made in US dollars unlike other  NFT platforms which usually accept Ether or   other cryptos for NFT payments. Many of the NFTs  currently available for sale on ebays platform   appear to be from the Wax blockchain with sellers  typically stipulating that buyers create a Wax   wallet in order to receive their NFT which is you  know kind of logical. Sports, hip-hop and digital   arts have collided with Jay-z and Serena Williams  investing in Bitski, an NFT marketplace that aims   to simplify creating buying and selling NFTs. It  refers to itself as the Shopify for NFTs and they   just closed the $19 million series A funding round  led by Andresson Horowitz. The NFT game developer   Sky Mavis announced that it had raised the  seven and a half million series A funding round   to support Axie Infinity. Its an Ethereum based  Pokemon and Tamagotchi inspired monster collecting   and battling game with investors including Mark  Cuban. The founder of the Decentraland platform   has unveiled a project bringing NFTs to the  big-time video games in his words. Big Time   Studios, a company formed by gaming industry  veterans, whose mission is to bring these games   to a massive audience came out of stealth and  announced that their plan to raise $21 million in   new funding. It did raise a $10.3 million series A  with a lot of very significant investors including   digital currency group Circle responsible for USDC  and Ashton Kutchers Sound Ventures. Apparently   an additional $11 million in funding will be  used to invest in partner gaming companies thats   almost complete which brings it up to that $21  million figure. The NFT games firm Animoca brands   is valued at one billion dollars following an  $89 million raise. The Hong Kong based firm   is not only the publisher of prominent upcoming  crypto games like the Sandbox and F1 Delta Time   but is also invested in and partnered with  other notable players in the space. Also,   theres a new platform called Creaticles which  has launched that allows buyers who are known   as requesters to place specific requests for NFTs  and get them custom made to suit their liking. It   sounds kind of similar to other marketplaces where  people can engage with designers where they can   put out a request for what theyre after,  someone comes back and then makes it for them.   So the idea is that the end deliverable is  an NFT. Its good to see that this opens up   new opportunities for people to get them created  who might not have the background in art and so   on that could be seen as a prerequisite to launch  some of these NFTs. Again, it would be fascinating   to see how that expands but also whether platforms  like 99designs and so on that are already   well established in the design space start to  embrace these sorts of innovations too. Finally,   Dapper Labs have been sued on allegations that the  NBA Top Shot Moments are unregistered securities.   The documents that have been submitted  claim that the Top Shots which have been   phenomenally successful, are securities because  their value increases with the success of the   project. Although its still early days, another  one to watch and see what Dapper Labs response   is because it could have ramifications from more  NFTs that are out there. Moving on to our metrics,   the crypto market cap has only its dropped  slightly down just over 6% of $2.28 trillion,   the assets locked in DeFi has only marginally  decreased so its just shy of $82 billion,   the seven-day NFT sales average price is down  significantly and this is off the back of the   Meebit sale which resulted in the NFT prices  shooting up last week. The average sale price is   rounded about two and a half thousand dollars with  the overall sales that happened in the last week   at $37.5 million. Thats all we have for this  week. If you like what you hear please subscribe   to our podcast and YouTube channel and of course  like and review what you hear. Links to all items   that are discussed are available in the show  notes and at our website   We also host a weekly Clubhouse room every  Monday at 12 p.m eastern, 5 p.m UK time if   youd like to discuss any of the items weve  covered here. Thanks and Ill see you next week. Welcome to this weeks episode of This Week in Blockchain!Each week your host, Conor Svensson founder and CEO of Web3 Labs will provide a rundown of the major events that took place in the blockchain industry that are relevant to business during the past week. We cover crypto​, enterprise​, DeFI​ and NFTs​. This Week in Blockchain is also available as a podcast at Discuss this podcast on Clubhouse weekly at 12:00 EST / 17:00 GM Links to items discussed: - Tesla stops taking Bitcoin for purchases - SpaceX accepts DOGE and plans to launch ‘Doge-1 Mission to the Moon’ - Elon Musk working with Doge devs - Mark Cuban counters Elon Musk - Cardano and Polygon hit ATH - Vitalik Buterin donates over $1B to India Covid Relief Fund & other charities - Chinas digital yuan inches closer to full rollout - Coinbase 1 position on Apple app store - U.S. officials investigating Binance - UBS explores ways to offer crypto investments to rich clients - Grayscale’s parent company bets $1M on Dogecoin’s decline - Tether releases breakdown of its $42B in crypto reserves - Adhara raises $7.5M Series A - Microsoft to Shut down its Azure Blockchain Service - Ubisoft unveils the next crypto startups it plans to help grow - Rari Capital to reimburse lost funds after hack - Vitalik Buterins UNI should become an oracle token proposal - Uniswap flips Bitcoin on daily revenue - Aave reveals permissioned pool for institutions - GoodFi coalition adds 22 industry leaders - 1inch network launches on Polygon - Cardanos DeFi $5M deFIRE fundraiser - Merriam-Webster auctions an NFT of its NFT Definition - Christie’s auctions off 9 CryptoPunks NFTs for $17M - eBay allows sales of NFTs on its platform - Bitski receives $19M investment - Axie Infinity’s $7.5M raise - Big Time Studios is raising $21M to bring NFTs to game economies - Animoca Brands valued at $1B following $89M raise - Dapper Labs sued on allegations NBA Top Shot Moments are unregistered securities enterprise​,DeFI​,crypto​,