Crypto community slams WazirXs socialized losses plan after hack
As WazirX navigates a crisis, the firm faces the challenge of rebuilding trust with its user base and the broader crypto community.
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As WazirX navigates a crisis, the firm faces the challenge of rebuilding trust with its user base and the broader crypto community.
Feists decision to join EigenLayer as an adviser follows in the recent controversial footsteps of Ethereum researcher Justin Drake.
The US Bitcoin reserve fails to meet investors’ expectations, causing disappointment following the Trump administration’s crypto summit. Despite high hopes and anticipation surrounding the event, the outcome left many in the cryptocurrency community feeling let down. The summit, which aimed to address the regulatory landscape for digital assets, fell short of delivering concrete solutions or [...]
The post Backlash Over Bitcoin Reserves Highlights Unrealistic Industry Expectations appeared first on Crypto Breaking News.
Solana Labs CEO Speaks Out on Controversial Advertisement The CEO of Solana Labs has finally addressed the backlash surrounding a controversial advertisement that has generated a lot of discussion in the crypto community. Anatoly Yakovenko, the CEO of Solana Labs, broke his silence on the matter to provide some clarity and context regarding the ad. [...]
The post Solana CEO Speaks Out: Addressing Controversy Surrounding Ad Backlash appeared first on Crypto Breaking News.
The French oversight agency, National Commission on Informatics and Liberty (CNIL), has raised doubts about the legality of Worldcoin’s biometric data collection methods. Besides questioning the legitimacy of its data acquisition processes, CNIL is also delving into how this biometric data is stored. Notably, Worldcoin has collected this data for over two million registrants who [...]
The post Report: French Privacy Regulator Probes Worldcoin’s Biometric Data Practices appeared first on Crypto Breaking News.
Days after announcing that it would be slashing its cashback benefits and ending staking rewards, Crypto.com has once again shifted course on its new policy changes in the face of...
The top comment on Ubisoft’s YouTube video introducing its NFTs has more likes than the actual video, and slams the firm for “milking” money from its customers.
At least Discord knows where it’s standing now. And, with this story, we know how early into the cryptocurrency game we all are. And how misunderstood all of this is by the general public. Discord’s founder and CEO Jason Citron hinted at possible integration with the Ethereum ecosystem, with NFTs, and with the incoming Web3. And all hell broke loose. Related Reading | Top Stars Line Up To Support Environmentally Friendly NFT Platform OneOf Discord fanatics spammed Citron’s replies and canceled their subscriptions to their Nitro premium service. Discord’s own employees took to social media to express their discomfort. Video game culture influencers rallied the masses and gathered hundreds of Likes and Retweets. What were their reasons? Environmental concerns. And that they consider NFTs a scam, that’s also ruining video games somehow. Sight… Let’s unpack all of this. How Did Discord Unveil Their Web3 Plans? Content creator Packy McCormick wrote an incredibly long article about Discord’s history and how it could evolve. Of course, the plan ended with cryptocurrencies, NFTs, their own multichain wallet, and an ill-advised new token. How could it not? It’s obvious that should be the direction that a successful but not entirely profitable company like Discord should go, right? The article concluded: “We strongly believe that the company should follow its users’ pull into web3. The company’s biggest successes to date came when it decided to build the communications infrastructure for gamers; now, it has the opportunity to build a more complete set of tools for this game that we’re all playing all across the internet.” Apparently, McCormick overestimated the crypto movement. Not everybody is playing the game. In fact, some people hate it with a passion. Discord’s Jason Citron replied with an image that showed some kind of integration between the service, Metamask, and WalletConnect. It also featured the Ethereum logo. The popular meme phrase “probably nothing” completed the tweet. probably nothing pic.twitter.com/p4P6MoNGgd — Jason Citron (@jasoncitron) November 8, 2021 The tweet received hundreds of replies. Most of them bashing their plans, denouncing NFTs, and citing environmental concerns. Which is really funny, if you think about it. Discord’s logo is a videogame controller, and that community was their original audience. And playing video games uses orders of magnitude more electricity than all of the blockchains combined. BTC price chart on Bitbay | Source: BTC/USD on TradingView.com Are Discord And Web3 A Match Or Not? They seem to be. If you read the article that started it all, it’s hard to argue with its logic. McCormick said: “The last of these gestures at Discord’s grip on web3. It has undoubtedly become the coordination platform of choice for all manner of projects including NFTs, DAOs, crypto investing groups, and crypto startups. It’s genuinely startling how quickly this has become a norm in the sector.” A huge number of DAOs and NFT projects run their communities on Discord. This seemed like a foolproof bet. Techcrunch even took it a step further: “With MetaMask support, Discord could become a place where people display their NFTs in galleries linked to user profiles or choose “verified” avatar images, with ownership backed up through the blockchain.” So probably nothing = actually nothing pic.twitter.com/IlzIFSWnnL — cobie (@CryptoCobain) November 11, 2021 This is something Twitter Crypto seems to be working on without complaints. How could this have gone so wrong? What makes the Discord community different? McCormick asked: “What would it look like if Bored Ape holders could buy and sell within the same channels they host conversations? What if members of the Bankless DAO could buy new tokens in-line with a discussion about them?” We’ll probably never know. Related Reading | Christie’s Will Auction Original Art From Gary Vee‘s Veefriends NFT Collection The Aftermath People are severely uninformed about cryptocurrencies. Those articles about the environmental risks that blockchains supposedly pose really did a number on them. However, there’s something else going on here. Casting a wide net, the Discord community seems to be technologically driven and one that appreciates art. They should be on the side of NFTs, but they are wildly against the movement. Almost manically. This is the reaction of a 3D artist that works for Discord: I hope leaders can humbly listen the chorus of vehement moral disgust this teaser has already invited. this sincerely does not have to happen. https://t.co/JZZBI2npVs — Kevin Tang (@Yolo_Tengo) November 9, 2021 And this is another Discord employee, who also retweeted these two terrible-terrible takes on the event: kinda cringe ngl https://t.co/hceLj105UN — Kaara ?? Forge Ahead (@kaara_raven) November 8, 2021 Where is that rage coming from? Is this just about the environment? Because they work in a tech company, and technology uses dirty electricity. Is this just about scams and money laundering? Because the art world, in general, is built upon scams and money laundering. No, there’s something else here. The crypto world arises a rage in them that shouldn’t be ignored. Check the replies under Citron’s tweets and you’ll see. Just remember how many furries use your platform, and how much money furries have,and how they almost universally hate NFTs and crypto. I would genuinely be surprised if you could show me 5 furries without discord accounts. You do have competition in the market. — Logan Mish ??? (@Mishaniz) November 11, 2021 Speaking about Discord’s CEO, he backpedaled his company’s whole Web3 plan with a PR friendly: “Thanks for all the perspectives everyone. We have no current plans to ship this internal concept. For now we’re focused on protecting users from spam, scams and fraud. Web3 has lots of good but also lots of problems we need to work through at our scale.” And to drive the point home, they told Techcrunch that the screenshot came from a hackathon: “We’re always exploring and hacking away at things we think will improve Discord for all the communities we serve.” Yeah, sure Discord. We believe you. Featured Image: Discord's Ethereum plans from this tweet | Charts by TradingView
After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the [...]
The post UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal appeared first on Crypto Breaking News.
As interest in Hamster Kombat declines, PAWS surges, outperforming the once-top Telegram Mini App.
Pudgy Penguins safety project manager said that a Pump.fun user was threatening viewers they would commit suicide if their token didnt pump.
Theres no point in owning game assets if you cant use them on other platforms.
US President-elect Donald Trump is reportedly open to establishing a strategic reserve that would include US-founded cryptocurrencies.
Usual Protocol has introduced a revenue-sharing model to stabilize its ecosystem following USD0++ depegging from $1.
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