Weekly Crypto Updates
- Ethereum cofounder Vitalik Buterin joins Joe Biden and Billie Eilish on Time’s 100 most influential people list.
As a result of his inclusion in Time’s top 100 most influential people list in 2021, Vitalik Buterin has become one of the most famous Ethereum co-founders. Lists are compiled based on the events of the day and describe the unique roles of the people on the list. Among the others who will support Bitcoin in 2021 are Elon Musk, the CEO of Tesla and SpaceX, who is also a cryptocurrency enthusiast, and Nayib Bukele, president of El Salvador, who pushed for Bitcoin to be included in legal tender.
- Apple sued by cryptocurrency holders over a scam involving an app for a fake wallet
Cryptocurrency users who downloaded a Apple application called “Toast Plus” saw their money disappear, and now they’re suing the iPhone maker in a class action lawsuit filed on Thursday.
According to the complaint filed in federal court in Maryland, Apple allowed hackers to place a spoof or “phishing” application disguised as a cryptocurrency wallet in its on-line App Store, inducing the plaintiff and others to download and install a criminal portal into their crypto accounts.
- Former CEO of Russian Crypto Exchange WEX Is Arrested in Warsaw
It was Dmitri Vasilev who wrote an algorithm that produced WEX, the defunct CEO of the crypto exchange that went public in 2017. He was first arrested in Italy in 2014 after first being arrested in Warsaw this August.
The report said Vasilev was initially arrested in Italy but released due to a mistake in his case, and he returned to Russia. Poland’s prosecutor’s office is now considering extraditing Vasiliev to Kazakhstan, which has had a criminal investigation open on Vasilev after WEX users filed police reports about being unable to get back their crypto and fiat deposits in the fall of 2018.
WEX was launched by Vasilev in 2017 as a successor of the also defunct exchange BTC-e, which has been linked to the infamous Mt. Gox exchange.
- Celsius Network is under scrutiny from Texas and New Jersey
It has been reported that the Texas Securities Board has filed a complaint against crypto lending firm Celsius Network that it does not have state or federal securities licenses, while the New Jersey Bureau of Securities has ordered the platform to stop selling interest-earning cryptocurrency products.
An official filing filed by Texas regulators on Sept. 17 details an upcoming hearing over claims Celsius Network is offering and selling securities in Texas without being registered or permitted, in addition to not registering as a dealer under the state’s Securities Act. In the event the judge finds that Celsius Network’s offerings are unlicensed securities, the company might have to comply with a cease and desist.
- As federal elections near, a politician in Canada announces his support for Bitcoin
People’s Party of Canada leader and founder Maxime Bernier has said that the country should embrace cryptocurrencies.
Bernier claimed cryptocurrencies are “another new and innovative way” to combat the actions of central banks that are “destroying our money and economy.” The Canadian politician has criticized the Bank of Canada for “printing money” and criticized Justin Trudeau’s economic strategies.
The Black Swan Events
Since the Pandemic crash last year, crypto cannot be protected from economic shocks. Risky assets are sold and safe havens are sought out. We would probably not escape crypto’s initial impacts if there was an economic black swan event.
The 20th september is a key date to watch because most interest payments are due on the 20th. There will be a lot riding on whether or not they can pay those bills.
A dollar bond interest payment of about 84 million dollars is due on the 23rd. These are some of the bonds that international investors hold so if there is a technical default here, their value will go through the floor.
The rise of USD is also a Red alert for BTC and can be considered itself a big Black swan event or a major crypto update itself.
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Port Finance on Gate.io
Port Finance aims to provide a whole suite of money market products. We aim to provide variable rate lending, fixed rate lending and also interest rate swap. Currently we are the leading borrowing and lending protocol in the Solana eco-system.
NFTrade on Gate.io
NFTrade is the first cross-chain and blockchain-agnostic NFT platform. NFTrade acts as an aggregator of all NFT marketplaces and hosts the complete NFT lifecycle, allowing anyone to seamlessly create, buy, sell, swap, farm, and leverage NFTs across different blockchains. Using NFTrade, anyone can gain access to the entirety of their NFT, unlocking the total value of the NFT market.