Autor Cointelegraph By Keira Wright

Coinbase announces support for hardware wallets, starting with Ledger

Coinbase announces support for hardware wallets, starting with Ledger

Uverejnil používateľ | dec 9, 2021 |

Major exchange Coinbase has announced it will begin to supporting crypto hardware wallets, starting with Ledger. The two companies made the announcement at the Ledger Open conference, which is taking place in Paris on Dec 9 and 10. Ledger is a major supplier of cold hardware wallets, which store users’ private keys more securely than hot online wallets. Users of the Coinbase Wallet browser extension will be able to connect their Ledger hardware wallets, maintaining self-custody and full controlover their assets. The partnership will be rolled out in phases, starting in the first quarter of 2022. Further down the track, the Coinbase mobile app will also support Ledger hardware wallets. Max Branzburg, VP of Product at Coinbase said: “we’re excited to share more announcements on how we’re making Coinbase Wallet the safest and most secure way to participate in Web3 over the coming months.”Coinbase stores 12% of all cryptoMeanwhile, Coinbase CFO Alesia Haas made some big statements in her testimony to the U.S. House Committee on Financial Services on Dec 8. She claimed that Coinbase stores about 12% of all crypto across more than 150 asset types and said crypto was moving beyond simple coin swaps. “Nearly 50% of our transacting customers are doing something other than buying and selling crypto, which indicates to us that crypto is moving beyond its initial investment phase into the long expected utility phase,” she said.Related: Why hardware wallets might not offer as much protection as you think, explainedCoinbase claims to have over 73 million customers globally, including 10,000 institutions and 185,000 application developers.

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Big jump in investors who favor crypto over stocks: Survey

Big jump in investors who favor crypto over stocks: Survey

Uverejnil používateľ | dec 9, 2021 |

New research by consumer data aggregator CivicScience has found that a growing number of investors are selling their shares to purchase more crypto. The research questions were sent to people over 18 years old in the U.S. at varying times during 2021. The results were weighted by U.S. census data. Each question had between 1000 and 40,600 respondents. Out of 3,700 respondents surveyed, the number who said they would be more likely to invest their money in cryptocurrency than traditional stocks increased 140% in just five months. Back in June, only 10% of respondents said they would be more likely to invest their money in cryptocurrency than traditional stocks, which rose to 24% in November.Interesting those who said they follow the financial market and economy “very closely” or “somewhat closely” were more likely to swap their traditional assets for crypto. Out of the 1285 respondents who said they follow the market “very closely,” 40% said that they or someone they know has sold their traditional stocks to purchase crypto. This percentage dropped to 30% for those who follow the market “somewhat closely,” and around 17% for those who said they followed the market “not closely at all.”Around 44% of the 1,988 respondents who had sold stocks for crypto said they’d sold less than 10% of their portfolios. But around one-fifth had sold over half of their stock assets to buy crypto which Zack Butovich from CivicScience described as a “shockingly significant number.” That might be pushing it, but it’s certainly notable.Related: True or false: 91% of surveys about Bitcoin and crypto are totally wrongAccording to its website, CivicScience sources its data through digital and mobile content partnerships. Cointelegraph contacted CivicScience for more detail on its methodology and is awaiting a response. CivicScience also found that those not interested in blockchain tech has continued to decline, from 80% in May of this year, to 68% currently based on 40,571 responses from May 1 to Dec. 6.

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Reddit launches waitlist for site-wide expansion of ‘Community Points’

Reddit launches waitlist for site-wide expansion of ‘Community Points’

Uverejnil používateľ | dec 9, 2021 |

Reddit has launched a waitlist for the upcoming site-wide expansion of its Ethereum-based ‘Community Points’ token rewards program, as well as a dedicated website. The social media platform, which runs on upvotes that earn users’ karma scores, first dabbled in crypto token rewards in Dec 2019, when it launched Ethereum-based token rewards called “Donuts” in the r/Ethtrader subreddit. In May 2020, the platform expanded the reward program to the r/Cryptocurrency subreddit with “Moons,” and r/FortniteBR with “Bricks” on an Ethereum testnet. Now, the program will be rolled out as an opt-in feature for subreddits across the entire platform. Similar to karma, Redditors will be able to earn Community Points by making contributions to a subreddit, such as creating and uploading valuable content, or volunteering to moderate the community. While the points remain in their beta phase, Reddit has “strongly advised to exercise caution.” Selling, exchanging or trading the points are against the site’s rules. Reddit stated: “This kind of behavior is very risky while Points are on a testnet — Points can be lost or they may not be migrated over to the main Ethereum network.”The Community Points program is currently being run on the Rinkeby testnet version of the Ethereum blockchain, with plans to migrate to the Ethereum mainnet using Eth layer-2 scaling solution Arbitrum. Despite Reddit’s warnings, owners of the trial token rewards have been able to devise a convoluted plan to trade the tokens for fiat. Once the reward system moves to the mainnet, the tokens are likely to be able to be swapped, held or traded on crypto trading platforms like any other ERC-20 token. Both users and mods are able to sign up for the waitlist and request the Community Points feature to be added to their subreddit once the beta program goes live. Each subreddit that participates in the program will be able to create “Special Memberships,” which users can purchase with their points. These memberships unlock features like badges, GIFs and animated emojis. The program will also introduce a “weighted polls” feature, which will give a larger voice to users who have more Community Points, and therefore are active contributors in the subreddit. The new website explains: “Community Points are a measure of reputation in your community. In the subreddit, they are displayed next to usernames, so the biggest contributors stand out from the crowd.”Tokens will be stored on-chain in their personal “Vault,” where they can view, send and use their community points within the Reddit app. Because the points are on the blockchain, users can take their “reputation” and embed it anywhere on the internet. Related: Reddit to reportedly tokenize karma points and onboard 500M new usersReddit held a “Scaling Bake-Off” competition to choose an Ethereum scaling solution for the program in Aug. 2020. Arbitrum was selected as the top pick the following July 2021.Reddit has not yet provided a timeline for the project. The social media platform is also working on building an NFT marketplace.

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Three Arrows buys 156K ETH in the weeks after CEO 'abandoned ETH'

Three Arrows buys 156K ETH in the weeks after CEO 'abandoned ETH'

Uverejnil používateľ | dec 8, 2021 |

Crypto hedge fund Three Arrows Capital (3AC) has bought more than half a billion dollars worth of Ether in the time since CEO Zhu Su publicly slammed the cryptocurrency on Twitter. Do the purchases mean he’s changed his mind, or was he just taking advantage of a market crash to buy the dip?In an anti-ETH tirade between Nov. 20 and Nov. 22, Zhu tweeted about why he had “abandoned Ethereum despite supporting it in the past.” The thread came in response to a tweet from Synthetix founder Kain Warwick, who’d called out people who have “sold out in pursuit of profit maximization.” During the tweet storm Zhu claimed that Ethereum culture “suffers massively from the Founders’ Dilemma” and that “everyone is already far too rich to remember what they originally set out to do.”However, after attracting wide attention, he made a U-turn saying he wanted to “soften” his original stance and that “I love Ethereum and what it stands for.”In the 17 days or so since the threads, approximately 156,400 thousand Ether (ETH) or $676.37 million has been transferred to a wallet that blockchain analytics firm Nansen has associated with 3AC. Almost all the funds entering the wallet during this period were transferred from Binance, FTX exchange or Coinbase. Look I couldn’t let you guys jerk off watching the burn without meEth L1 still unusable for newcomers, show it to your grandma if you don’t believe meI’ll still bid it hard on any panic dump like this weekend obv100k eth is dust fwiw, more coming— Zhu Su (@zhusu) December 7, 2021Zhu confirmed the transactions earlier today in response to a tweet from Chinese blogger Wu Blockchain, saying that although Ethereum layer-one is still “unusable for newcomers,” he’d still “bid hard on any panic dump like this weekend.”The wallet shows 3AC made the majority of its purchases during the weekend price crash. When the anti-ETH tweets emerged, many Twitter users believed he was trying to pump rival project Avalanche (AVAX), which 3AC has invested in. In response to a user asking if the ETH purchases meant he’d dumped his AVAX holdings for ETH, he said that he has “never sold AVAX” and simply “bought this ETH from whoever was financially illiterate enough to sell this weekend.” In early November, Three Arrows Capital was announced as an investor in Blizzard, a fund to promote the development of AVAX. Following Zhu’s initial tweets, AVAX pushed out Dogecoin (DOGE) from its spot as the 10th-largest crypto by market capitalization. Zhu tweeted a graph of AVAX’s growth captioned “top 10” in the hours before his U-turn.Yes I have abandoned Ethereum despite supporting it in the past.Yes Ethereum has abandoned its users despite supporting them in the past.The idea of sitting around jerking off watching the burn and concocting purity tests, while zero newcomers can afford the chain, is gross.— Zhu Su (@zhusu) November 21, 2021

Related: Three Arrows Capital executives launch NFT fundAt 23:34 UTC today, 93,791.894 Ether was moved from the wallet belonging to 3AC to an address that appears to belong to a major trader. Smaller amounts have been moved to other addresses, including 500 Ether moved to an apparent NFT investment wallet shortly.

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Gemini partners with Colombia's biggest bank for crypto trading

Gemini partners with Colombia's biggest bank for crypto trading

Uverejnil používateľ | dec 7, 2021 |

New York-based crypto exchange Gemini has announced that it will be expanding into Latin America through an upcoming partnership with Colombia’s largest bank, Bancolombia. The partnership will take effect Dec. 14, and will permit customers from Bancolombia to trade 4 crypto assets: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).A limited number of users will be able to buy crypto directly from their Bancolombia bank accounts through the Gemini exchange, which will provide crypto-specific infrastructure for exchange and custody of assets. It remains unclear whether the users will be able to withdraw the crypto holdings directly from their accounts. In a Dec. 6 announcement about the partnership, Gemini stated that it “serves as an important step toward the strategic expansion of Gemini’s presence in Latin America.”“We believe that crypto can play an important role in the development of Latin America as interest in blockchain and innovative technologies proliferates throughout the region.”The partnership will run as part of a year-long pilot program run by Colombia’s financial regulator, the Superintendencia Financiera de Colombia (SFC). The regulatory sandbox, “la Arenera” was approved by the Ministry of Finance and Public Credit in September 2020.In January, the SFC announced that it had chosen 9 out of fourteen crypto exchanges that applied for the project including Gemini, Binance, and the Mexican exchange Bitso.Since El Salvador adopted BTC as a legal tender on Sept. 7, Latin America has moved in strides towards mainstream crypto adoption. In Oct., CEO of multicurrency investment platform Uphold JP Thieriot told Cointelegraph that Latin America stands to “benefit the most from crypto.” Gemini currently operates in over 60 countries, including Argentina, Brazil, Chile, El Salvador, Panama, Peru, and Uruguay in Latin America. Related: Blockchain.com acquires SeSocio to cement presence in Latin AmericaBancolombia operates in Colombia, Panama, Guatemala, and El Salvador. According to an internal report from last year, it has 17.8 million users. In March, Colombia’s oldest bank Banco de Bogotá also announced that it would also be piloting crypto services as part of la Arenera. A year prior in March 2020, Cointelegraph reported that Latin America is the region with the third-largest number of crypto users in the world.

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