Coinbase Hacks Ethereum hopes, and Lil Nas X
In our last episode, I told you about how some people woke up to find more money in their accounts – well today there’s some bad news for some Coinbase users.
Coinbase announced that hackers found a flaw in their two-part authentication system, and were able to take funds from over 6000 users.
The good news is, Coinbase is taking responsibility and promises to reimburse everyone who was affected by the hack. So, keep an eye on your accounts.
I checked mine, and I’m ok – which is what really matters.
Last episode, I also discussed how China’s ban isn’t a problem – and it turns out Edward Snowden agrees.
A decrypt article coming out today says Snowden believes that the ban actually strengthened Bitcoin. He was quoted saying, “This is the first time in a while I’ve felt like buying BItcoin. That drop was too much panic and too little reason,”
Snowden’s not the only one that has faith in Bitcoin. Florian Grummes, the managing director of financial consultancy firm Midas Touch has stated he still believes Bitcoin is well on its way to hit $100k.
He does say there will be pullbacks along the way.
Really, that’s something we see in any market. And those dips are always the best time to buy.
In the Ethereum world, JP Morgan has recently come out with a report that institutions are favoring Ethereum over Bitcoin.
A Crypto Compares report also suggested that Grayscale’s Ethereum Trust was the most traded digital asset product in September.
Ethereum is also expected to become a favorite amongst institutions once the 2.0 update officially rolls out, which would move Ethereum from a proof of work to a proof of stake – which is expected to happen in 2022.
Well, if you know someone who feels confused about crypto wallets but really wants to invest – a Vancouver-based Crypto Mining company, Hive Blockchain has reported that in their first quarter, they saw a large profit.
They went from $1.8 to $18.6 million dollars. I don’t know enough about the company to suggest them, but if you are curious their NASDAQ symbol is HIVE. H I V E.
Now it’s time to move on to NFTs today.
If you are a fan of the art world, you know that contemporary art had been hit particularly hard at the beginning of the pandemic.
I live in one of the world’s largest and oldest art communities, which iis located in Downtown Los Angeles. The Brewery Artist lofts, if you are curious, and I’ve definitely seen a large impact on people in my community.
The good news, though is that NFTs have been a significant help. A report from Artprice says that over the last year, contemporary art has hit a peak of 2.7 billion dollars.
That’s up 117%
Of course, we’ve seen people entering the NFT space like world-renowned street artist Banksy – who sold his work Morons for $380,000.
The piece simply said, “I can’t believe you morons buy this shit.”
I love Banksy so much.
Anyway, we are also seeing Lil Nas X entering the space. Another person I’m a fan of what they are doing.
He’s teaming up with Tik Tok to drop their first official NFT’s.
Lil Nas is releasing an NFT that is an alternate version of his music video “Montero (Call Me By Your Name)”. It’s set to release on October 6th.
For those of you who love the entrepreneur world, Gary Vee has also entered the NFT world.
He sold several pieces at Christie’s Auction House, totaling over 393 Ether – or 1.2 million dollars.
I wonder if he will be giving up his mug life for NFTs. Gary, let me know.
If you are interested in signing up for our upcoming newsletter, please go to CryptoDailyShow.com. There you can also find links to where you can follow me on social media.
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I’m Dustin Knouse, thank you for joining me today.
Resources:
Coinbase hack sees thousands of users’ accounts drained
Bitcoin’s $100k target on course despite China’s ban, says managing director F. Grummes
Bitcoin Is Stronger After China’s Crypto Ban: Edward Snowden
Are Institutions really favoring Ethereum over Bitcoin right now
Hive Blockchain First-Quarter Profit Jumps More Than Tenfold
NFTs are bringing back contemporary art sales
NFTs drive sales of contemporary art to record £2.7bn
Lil Nas X is fronting TikTok’s debut NFT collection
Gary Vee Talks Historic Christie’s Auction, Cementing Position in Digital Art World
