Coinbase NFT Launches Beta, AMC Theaters Rolls Out SHIB and DOGE Payments, and Blockchain.com Considers IPO: Hodler’s Digest, April 17-23
Coming every Saturday, Summary of Hodler will help you follow every important news that happened this week. The best (and worst) quotes, adoption and regulation highlights, major coins, predictions and more – a week on Cointelegraph in one link.
Top stories this week
AMC Theaters mobile app accepts Dogecoin, Shiba Inu and more
Retailer-favorite movie chain AMC Theaters has updated its mobile app to support Dogecoin and Shiba Inu payments. US-based customers using Apple or Android phones can both download the app and spend their highly volatile memecoins on movie tickets.
The company first floated the idea in January, having rolled out payment support for Bitcoin, Ether, Bitcoin Cash, and Litecoin in November.
AMC is able to accept crypto payments through a partnership with BitPay, a bitcoin payment service provider. It should be noted that merchants using BitPay do not receive crypto payments directly. Instead, BitPay converts crypto payments to fiat before depositing them into the merchant’s account.
Crypto startup Blockchain.com plans IPO in 2022
It was reported on Tuesday that the $14 billion crypto exchange Blockchain.com is in talks with banks regarding the launch of a possible initial public offering (IPO) this year.
Bloomberg’s unnamed sources said the talks were very tentative and could change at any time (especially if those unnamed sources were instructed by Blockchain.com to release information to get a sense of public sentiment before revealing anything. either concrete).
If the company manages to clear all regulatory hurdles and go public via an IPO, it will join Coinbase as the only other US crypto exchange to do so. Binance.US is also considering a potential similar path in the future.
Coinbase Announces Social Engagement NFT Marketplace Beta
Speaking of the only US crypto exchange to go public, Coinbase launched an early beta of its NFT Marketplace this week for a number of testers. At this point, early adopters of Coinbase NFT can create online profiles as well as buy and sell NFTs.
In a blog post on Tuesday, Coinbase VP of Products and Ecosystem Sanchan Saxena hinted that Coinbase NFT would be a hybrid platform that takes elements from social media services and marketplaces such as ‘OpenSea.
“While buying and selling NFT is a big part of the ecosystem today, what we’ve learned from talking to many customers and creators is that it’s not enough to buy and sell,” Saxena said. “There is the community aspect.”
German banking giant Commerzbank applies for crypto license
One of Germany’s banking giants, Commerzbank, revealed this week that it has applied for a crypto license, making it the first traditional financial institution in the country to do so.
A spokesperson told local news outlet Börsen-Zeitung that he “applied for the crypto custody license in the first quarter of 2022.” The move would go a long way to mainstream crypto in the country, as the bank serves over 18 million customers and 70,000 institutional customers.
Any company wishing to deploy crypto services in Germany must first seek approval from the Federal Financial Supervisory Authority, also known as BaFin.
Goldman Sachs reportedly considering FTX alliance with regulatory and public assistance
Goldman Sachs is reportedly looking to strike an alliance with the largest derivatives exchange FTX, providing a strong show of confidence in crypto in the banking industry.
According to the Financial Times, Goldman Sachs CEO David Solomon and FTX founder Sam Bankman-Fried met behind closed doors in March to discuss how a potential partnership might work for the two firms.
The main areas of discussion were around US compliance, with Goldman Sachs offering to help FTX navigate murky regulatory waters, in addition to helping with future funding rounds.
Winners and losers
On weekends, Bitcoin (BTC) is at $39,628Ether (ETH) to $2,957 and XRP to $0.71. The total market capitalization is $1.85 trillion, according to at CoinMarketCap.
Among the 100 largest cryptocurrencies, the top three altcoin gainers of the week are STEPN (GMT) at 40.66%, 0x (ZRX) at 22.40% and Decred (DRC) at 18.98%.
The top three altcoin losers of the week are helium (HNT) at -12.74%, Convex Finance (CLC) at -10.82% and Manufacturer (MKR) at -10.81%.
For more information on crypto prices, be sure to read Cointelegraph Market Analysis.
Most Memorable Quotes
“I see Ethereum remaining the dominant L1 for years to come, while Bitcoin retains its status as the primary store of value on the blockchain.”
Lynn Lissco-founder and managing director of Akoin
“It’s just the beginning, but we’re encouraged by what we’re seeing and confident that blockchain games will continue to gain traction if they’re engaging and fun to play.”
Chris DeWolfeco-founder of Myspace, CEO and co-founder of Jam City
“Crypto is dead. Long live crypto.”
Andre Cronjefounder of Yearn.finance
“NO! There are already digital means of payment! So what is the CBDC for? […] Even more surveillance, prevention of bank runs, addictions and the resulting enslavement of humanity? It does not prevent money laundering; this already exists on a large scale for the first 10,000 in many tax havens, for example, [the] Cayman Islands, Macao, Dubai, etc.
“One of the guiding principles of the blockchain is that it is a shared public ledger and anyone with a bit of computing power has access to it, [including] law enforcement. Thus, the Secret Service did nothing that was not the original intention of the blockchain. We just use the same track and trace mechanisms that were intended.
David SmithDeputy Director of Investigations for the United States Secret Service
“NFTs represent an opportunity for game developers to create games with player-owned economies; where the community of holders are both the first supporters of the game but also the main players in its development and real stakeholders in its success.
Sebastien Borgetco-founder of The Sandbox
“It’s highly unlikely that all countries will ban noncustodial wallets, or any other aspect of Bitcoin’s peer-to-peer network for that matter.”
Stepan UherikCFO of SatoshiLabs
“My view of the world before Bitcoin was quite narrow. Life was like school, work, retirement, death. Today I think a little differently. The ultimate goal [now] could best be described as entrepreneurship and self-sovereignty.
“The purpose of DeFi cannot simply be to trade DeFi tokens.”
Arthur Breitmanco-founder of Tezos
Prediction of the week
BTC could drop to $30,000 in 2 weeks, trader warns as gold hits $2,000
Bitcoin’s price dipped below $40,000 on April 17, according to Cointelegraph BTC Price Index. The asset then fell to near $38,500 the next day, followed by a subsequent rise above $41,000 in the same session. On Thursday, the asset had reached around $43,000, although bearish action followed on the same day, with the asset then falling below $40,000.
Pseudonymous trader “Crypto Ed” posted a YouTube video on Monday talking about BTC price action. Looking back, his expectations for the asset turned out to be quite accurate. He expected $37,500 to serve as a rebound point for BTC, followed by a potential run to $43,000 if the asset broke above $40,000. He noted that $43,000 may just be a local high, with the asset facing downward price pressure next. Last week shows BTC moving roughly in line with Crypto Ed comments.
He, however, also mentioned that the next two weeks (from the date of his Monday video), or so, may finally see BTC come to the $30,000 price level.
FUD of the week
Beanstalk Farms Offers Plea Deal to Authors of $76 Million Exploit
After credit-based stablecoin protocol Beanstalk Farms was hacked for an estimated $76 million earlier this week, the team offered a 10% bounty if the hacker returned the funds.
Hacker bounty offers are becoming a common method for DeFi platforms lately, as they seem to be the most viable way to grab project funds and get them up and running as quickly as possible.
Notably, project founders Benjamin Weintraub, Brendan Sanderson and Michael Montoya admitted during a podcast interview on Monday that Beanstalk’s design flaws “ultimately led to its downfall.”
MetaMask warns Apple users about iCloud phishing attacks
Crypto wallet provider MetaMask has warned the community about potential Apple iCloud phishing attacks which could become very costly.
The security issue is related to default device settings on Apple devices that see a user’s seed phrase or “password-encrypted MetaMask Vault” stored on iCloud if the user has enabled automatic backups for its MetaMask application data.
MetaMask’s warning came in response to reports from an NFT collector who goes by “revive_dom” on Twitter, who said his entire wallet containing $650,000 in digital assets and NFTs had been wiped via this issue. specific security.
FBI, CISA Issue Alert Over North Korean Cyberattacks Against Crypto Targets
On Monday, the Cybersecurity and Infrastructure Security Agency (CISA) and the US Federal Bureau of Investigation (FBI) issued an alert regarding North Korean state-sponsored cyberattacks.
The warning came in response to the Ronin Bridge hack last month, which was allegedly carried out by North Korean hackers. The FBI and CISA have pointed out that hackers specifically target DeFi protocols and play-to-earn games in particular, with spear phishing and malware being the methods of choice.
“These actors will likely continue to exploit vulnerabilities in cryptocurrency technology firms, gaming companies, and exchanges to generate and launder funds to support the North Korean regime,” CISA wrote.
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