All articles tagged with #crypto community
The TON Foundation announced a program allowing users to stake $100K worth of Toncoin and pay a $35K fee for a fast-tracked UAE Golden Visa, leading to a 12% surge in Toncoin's price and increased market activity, though the initiative faces skepticism over its official backing and legitimacy.
Dogecoin's founder, Shibetoshi Nakamoto, has challenged US Senator Elizabeth Warren for her anti-cryptocurrency stance, accusing her of being hostile towards the people and favoring traditional banking systems. Tesla CEO Elon Musk expressed his agreement with Nakamoto's sentiment. The crypto community has rallied against Warren's statements, arguing that fiat currencies like USD are predominantly used for terror financing rather than cryptocurrencies. Some community members believe that Warren's remarks are an attempt to discourage crypto investors as the market appears to be poised for a major bullish rally.
The Ethereum network celebrated its 8th birthday, marking eight years since its launch. Ethereum has become the second-largest cryptocurrency with a market capitalization of $225 billion and over 1,900 monthly active developers. Community members reminisced about its growth, with Ethereum boasting $400 billion in secured value, $3.6 billion in annualized profits, and 17.8 million blocks of digital assets. Prominent figures like Vitalik Buterin co-founded Ethereum, which played a crucial role in the initial coin offering boom and the rise of decentralized finance. Ethereum recently implemented the Merge upgrade, transitioning to a proof-of-stake consensus mechanism and reducing energy usage.
Fake news regarding the resignation of SEC chair Gary Gensler has been circulating in the crypto community, causing initial excitement. However, the news has been debunked, revealing that it was generated by artificial intelligence. Following the clarification, around $15 billion reentered the crypto markets, driving the total market capitalization to $1.25 trillion. Bitcoin remained relatively flat, while Ethereum saw a 1.7% increase in value.
The European Union (EU) has finalized the European Data Act, a controversial piece of legislation that includes provisions for smart contracts, including kill switches for safe termination. The act aims to promote the fair use of industrial data and remove barriers to data sharing. While the act has been praised for reshaping the digital space, it has drawn criticism from the crypto community, as some believe it may restrict innovation and compliance for smart contracts in the crypto industry.
A Twitter video showing how to create a memecoin crypto project in just 27 seconds using OpenZeppelin's Contracts Wizard has gone viral, raising concerns about an increase in rug pulls. The video has already garnered over 1.5 million views and nearly 10,000 bookmarks. Industry players warn that the ease of creating memecoins could lead to bad actors developing as many as possible, resulting in more rug pulls. Crypto investors are advised to conduct proper research before investing in any digital asset, as memecoin investments are high risk.