Autor Cointelegraph By Arijit Sarkar

Super Bowl 2022: Here’s the scoreboard of crypto ads

Super Bowl 2022: Here’s the scoreboard of crypto ads

Uverejnil používateľ | feb 14, 2022 |

Super Bowl commercials have always been an intrinsic part of the annual National Football League (NFL) championship and for business, a fair sign of making it in the real world. This year, however, marked a new milestone for the crypto community as FTX, eToro, Crypto.com and Coinbase debuted crypto ads in Super Bowl 2022.With rising demand in crypto — recently fueled by nonfungible tokens (NFT), meme tokens and the Metaverse — Super Bowl crypto ads stole the limelight from traditional businesses on social media platforms like Twitter. Let’s gauge into the advertisements and echo the feelings expressed by the community:Coinbase Super Bowl 2022 commercialCoinbase is one of the most popular crypto exchanges in the United States, often taking the number 1 spot for being the most downloaded app on the Apple App Store. What appears to be a part of the company’s ongoing “Less talk, more Bitcoin” campaign, Coinbase released a minimalistic commercial sporting basic two-dimensional graphic images.The Coinbase Super Bowl commercial started off with a Coinbase-themed “C” bouncing around the screen similar to the bouncing DVD logo.ICYMI Now that we have your attention we’d like to announce that we’re giving away $15 in BTC to anyone who joins Coinbase by 2/15. Click below for more info and RT to tell your friends! Sign up and see terms here → https://t.co/fKHisXZJJc pic.twitter.com/SDWUup2Ql5— Coinbase (@coinbase) February 14, 2022Shortly after, the letter was replaced with a color-changing QR code, which silently moved across the screen in a similar fashion. The QR code redirected users to Coinbase’s landing page that promoted Bitcoin (BTC) giveaway and sign-up promotions when scanned.Despite the contrast to traditional, high-production Super Bowl advertisements, Coinbase services crashed temporarily owing to the sudden influx of heavy traffic on its website. Acknowledging the service disruption, a follow-up message on the Coinbase app said:“Well, that was more popular than we thought. We need a quick time out, but don’t worry. We’ll email you when things are back to normal.”Coinbase just spent $14 million for a color-changing QR code to bounce around on the screen for 30-seconds during the Super Bowl…And the website crashed.— Joe Pompliano (@JoePompliano) February 14, 2022

FTX Super Bowl 2022 commercialFTX, a crypto exchange founded by Sam Bankman-Fried, spared no expense on its first Super Bowl advertisement, Don’t Miss Out, featuring comedian Larry David. The advertisement shows David dismissing life-changing technologies right when they were being invented. Portraying as an authority figure in various historic timelines, David is seen rejecting the invention of the wheel, electricity and the toilet. The comedian further opposes the United States Declaration of Independence. He shows skepticism about landing on the moon and portable music. Finally, when David dismisses the FTX app with an “I don’t think so,” the commercial addresses the viewers:“Don’t be like Larry. Don’t miss out on the next big thing.”The next ₿ig thing is here, even if Larry can’t see it.We’re giving away 7.54 #bitcoin right now to celebrate! How to enter:1) Watch our ad!2) Follow us3) Retweet this by 11:59 pm ESTFour lucky winners! #FTXContestNo Purch Nec. Subject to T&C: https://t.co/7oCC4YUk0M pic.twitter.com/RosZS0HZAS— FTX (@FTX_Official) February 14, 2022

Overall, FTX’s advertisement was considered by many as the funniest Super Bowl commercial.eToro Super Bowl 2022 commercialCrypto and fiat investment platform eToro’s Super Bowl ad “Flying Your Way” began with a user asking for advice from the eToro community on whether to invest crypto or stocks.Soon after, the ad shows a large group of users hovering around the city, one of them approaching the user and asking him — “To the moon?”Stocks, crypto and beyond. Discover the power of social investing #FlyWithUs #eToro pic.twitter.com/P01NJLxDZb— eToro US (@eToroUS) February 14, 2022

As a homage to the popular meme coin Shiba Inu (SHIB), eToro’s advertisement also featured a Shiba Inu dog. Moreover, the platform also released an unofficial Super Bowl halftime Bingo card to guess the performance mishaps such as wardrobe malfunction and fireworks.Ready for the halftime show? Check out our Bingo card full of our best guesses for what happens during the performance.*This is for entertainment purposes only pic.twitter.com/wuOMDdC7sZ— eToro US (@eToroUS) February 14, 2022

While eToro deserves an A for effort, the advertisement managed to create only a fraction of the buzz created by the other players. Crypto.com Super Bowl 2022 commercialIn its first Super Bowl ad, Crypto.com featured basketball legend LeBron James having a conversation with his younger version from 2003. While the young LeBron James was excited to know about a future full of electric cars and other technological advancements, he asks from the real LeBron James if he was ready for what was about to come:“I can’t tell you everything. But if you want to make history, you gotta call your own shots.”The commercial made even more sense to the public, considering that LeBron became the highest-scoring player in NBA history just one day before the commercial aired.In his moment of truth, @KingJames called it. Fortune Favors the Brave #FFTB pic.twitter.com/Snhpit3vnh— Crypto.com (@cryptocom) February 14, 2022

With the launch of this advertisement, LeBron James joins the growing list of pro athletes that support crypto’s mainstream adoption — a move well received across the crypto community.Related: Ad restrictions won’t impact crypto demand, Binance CEO saysJust last month, Binance CEO Changpeng Zhao stated that the growing restrictions on the crypto advertisement will not have any negative impact on the demand for cryptocurrencies.Clampdown on crypto advertising is unlikely to have much of an effect on demand, says @binance CEO Changpeng Zhao pic.twitter.com/K5EtuWyxGz— CNBC International (@CNBCi) January 20, 2022

As Cointelegraph reported, CZ told CNBC that the reason why regulators have to limit advertising is probably because of such high demand, adding that “most of our users come from word of mouth anyway.”

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Ethereum's average and median transaction fee slip, lowest in six months

Ethereum's average and median transaction fee slip, lowest in six months

Uverejnil používateľ | feb 13, 2022 |

The infamous transaction fees of the Ethereum (ETH) ecosystem underwent a decremental phase from Jan. 10 to record the lowest average and median fees of $14.17 and $5.67 — lowest since September 2021. Data from Blockchair shows that the average transaction fee of ETH in January was $53.03, which at its peak was $70.83 back in May 2021. Just within a month, the average fees saw an almost 73.3% decline as evidenced by the following chart.Additionally, the resultant median transaction fee also witnessed an 81.02% drop from January’s $29.88. In the last six months, ETH’s median transaction fee was seen lowest in September at $6.26.Interestingly enough, the transaction count of the Ethereum network has also come down to numbers that were last seen back in early 2019. Blockchair data show that on Feb. 1, Ethereum’s transaction count went down to 14,574,808 from 36,851,128 — a 60.44% drop in just one month.This is the first time in Ethereum history that the transaction count saw such a huge drop within 30 days. In November 2021, Ethereum co-founder Vitalik Buterin proposed a new limit on the total transaction calldata in a block to decrease the overall transaction calldata gas cost over the ETH network.Related: Individual ETH miner hits jackpot with $540K block rewardAn ETH miner operating on 2Miners: Solo pool validated a block on their own and received a reward valued at about $540,000. As Cointelegraph reported, the miner earned 168 ETH for successfully mining the block, which vastly outstrips the per-block average reward of about 4 ETH.

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Bitcoin network hash rate explodes to a new all-time high of 248.11 EH/s

Bitcoin network hash rate explodes to a new all-time high of 248.11 EH/s

Uverejnil používateľ | feb 13, 2022 |

The Bitcoin (BTC) network has recorded a new hash rate all-time high of 248.11M TH/s as of Feb. 12, 2022, further securing the decentralized ecosystem through a growing network of global BTC miners. The hash rate correlates to the computing power required by a miner’s computer equipment to confirm a transaction. The recent spike in BTC’s network hash rate ensures further security against attacks by deterring bad actors from confirming fraudulent transactions.Bitcoin hash rate over the past year. Source: YChartsAs evidenced by the above screenshot, the network hash rate jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — in just one day. Moreover, the Bitcoin network’s hash rate levels rose 54.33% over the past year. Bitcoin hash rate over the past one month. Source: YChartsPreviously, China’s blanket ban on crypto mining and trading led to concerns about the security of the Bitcoin network, as the Asian country contributed to 34.25% of the total Bitcoin mining hash rate until June 2021. With miners eventually finding refuge in other crypto-friendly countries, the Bitcoin network saw a sharp recovery — eventually surpassing the previous all-time highs.Bitcoin mining by country. Source: ccaf.ioCurrently, the miners residing in the United States contribute the highest in terms of the global hash rate of the Bitcoin network, 35.4%. Related: Bitcoin miners believe global hash rate to grow ‘aggressively’A recent Cointelegraph analysis from January concluded that the industry players believe that the BTC hash rate will continue to grow. Despite the investors’ panic induced by the BTC price roller-coaster, industry experts pointed out that the Bitcoin network has become verifiably stronger than ever before.Michael Levitt, co-founder chairman and CEO of Core Scientific, told Cointelegraph that he fully anticipates for the BTC global hash rate to continue growing at an aggressive pace. However, he mentioned that this growth is dependent on the price of Bitcoin moving forward, along with the success of the infrastructure currently being built.

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Netflix announces new series on Bitfinex hack involving 120,000 Bitcoin

Netflix announces new series on Bitfinex hack involving 120,000 Bitcoin

Uverejnil používateľ | feb 12, 2022 |

Streaming and production giant Netflix will soon produce a documentary series on the infamous Bitfinex hack — one of the biggest financial crimes from 2016 stealing 119,756 Bitcoin (BTC) — worth $72 million at the time. The Netflix documentary will be centered around a New York-based couple and their link to laundering nearly 120,000 BTC tied to the crime. According to Netflix, the documentary will be directed by American filmmaker Chris Smith with Nick Bilton as the co-executive producer. The announcement read:“Netflix has ordered a documentary series about a married couple’s alleged scheme to launder billions of dollars worth of stolen cryptocurrency in the biggest criminal financial crime case in history.”The plot is based on two main characters — Ilya Lichtenstein and Heather Morgan — the NYC couple linked to the 120,000 BTC heist and their involvement in laundering the stolen funds.Bitcoin price movement since August 2016. Source: TradingViewAs evidenced by the data from Cointelegraph Markets Pro and TradingView, ever since the Bitfinex hack, BTC prices soared over 7415% in just five years. Netflix notes that “as the value of the stolen Bitcoin soared from $71 million at the time of the hack to nearly $5 billion, the couple allegedly tried to liquidate their digital money by creating fake identities and online accounts, and buying physical gold, NFTs, and more – all while investigators raced to track the money’s movement on the blockchain.”Cointelegraph has previously tracked the movement of the stolen funds, with the latest movement dating back to as recent as Feb 1, 2022. ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ 10,000 #BTC (383,540,711 USD) of stolen funds transferred from Bitfinex Hack 2016 to unknown wallethttps://t.co/kvvWQpZoq8— Whale Alert (@whale_alert) February 1, 2022Related: Cyber vigilante hunts down DeFi scammers running away with $25M rug pullCointelegraph recently interviewed an anonymous cyber vigilante who tracked down a group of decentralized finance (DeFi) scammers responsible for the $25 million StableMagnet rug pull and eventually had the stolen money returned back to the investors.Check out the whole episode to find out how the vigilante coordinated with the Manchester Police to retrieve a single USB device with roughly $9 million.[embedded content]

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Hungary's central bank chief wants EU-wide crypto trading and mining ban

Hungary's central bank chief wants EU-wide crypto trading and mining ban

Uverejnil používateľ | feb 12, 2022 |

György Matolcsy, Governor of the Hungarian National Bank, has proposed a blanket ban on all cryptocurrency trading and mining operations across the European Union. Governor Matolcsy cited the recent crypto ban imposed by China in a blog post shared by the Hungarian central bank a.k.a. Magyar Nemzeti Bank (MNB) titled “Time has come to ban crypto trading and mining in the EU.” He also pointed out the Russian central bank’s proposal that calls for a blanket ban on domestic cryptocurrency trading and mining. Reciprocating the proposals for a crypto ban, Matolcsy said:“I perfectly agree with the proposal and also support the senior EU financial regulator’s point that the EU should ban the mining method used to produce most new bitcoin.”The governor strongly believes in cryptocurrency’s potential to “service illegal activities and tend to build up financial pyramids.” Matolcsy also highlighted concerns raised by the Russian central bank — that the market value in crypto is determined by the “speculative demand for future growth, which creates bubbles.”On an end note, governor Matolcsy calls for an outright blanket ban on cryptocurrencies to counter the investor’s risks related to financial pyramids and bubbles:“EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.”Related: Satoshi Nakamoto statue goes up in BudapestOn Sept 2021, a bronze statue of legendary Bitcoin (BTC) creator Satoshi Nakamoto was unveiled in Graphisoft Park in Budapest, Hungary.Satoshi statue unveiled today in Budapest. Love how it is reflective, underlining how we all play a role in Bitcoin.May it inspire all those fighting against authoritarianism worldwide, including dissidents and journalists being persecuted by Viktor Orbán in Hungary. pic.twitter.com/kEOaDt4ahi— Alex Gladstein ⚡ (@gladstein) September 16, 2021As Cointelegraph reported at the time, the sculpture shows the upper half of a figure with a featureless face wearing a hoodie with the BTC logo. Debreczeni Barnabás, the CEO of Hungarian crypto exchange Shinrai was among the numerous crypto entrepreneurs who spoke at the ceremony:“Satoshi Nakamoto has created an independent money free of any middlemen that empowered people with financial sovereignty […] We have erected this statue to remind ourselves courage is virtue. We need to keep on dreaming big.”

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