⚡ NEW: This Week in Crypto (April 23-30, 2019)steemCreated with Sketch.

in cryptocurrency •  5 months ago  (edited)

Hey Steemians! 👋

After getting SIM swapped last week, losing some crypto, and having to deal with that whole crazy situation, I'm back this week with another crypto update courtesy of Cheddur—the social network of money! I'll soon be releasing a full breakdown of what it's like to get SIM Swapped, plus tips on how to prevent this from happening to you!

Now, without further ado:

Top Stories:

  1. SIM Swapping—the latest form of digital identity theft—is sweeping the crypto community. The good news? Anyone who commits this fraud will eventually land themselves in jail for around 10 to 15 years. 👮

  2. The New York Attorney General has accused Bitfinex of using Tether (USDT)'s cash reserves to cover a rumored $850M "funding gap". (Bitfinex and Tether share the same owner, iFinex Inc.) While USDT has maintained its $1 peg thus-far, the question remains... just how stable IS it? 💣️

  3. More than 10 million Paxos Standard Tokens (PAX) were minted in the first 18 hours following the New York Attorney General's bombshell allegations about rival stablecoin Tether (USDT). 🖨️

  4. Binance Chain has officially ! As of April 23, all Ethereum (ETH)-based BNB tokens are redeemable (on a 1:1 basis) for "native" BNB coins on Binance Chain. 🔥

  5. Samsung Electronics is reportedly developing an Ethereum (ETH)-based token and just invested $2.9M into Ledger, a popular cryptocurrency wallet manufacturer. 🍭

  6. Does John McAfee really know who Satoshi Nakamoto is, or is this just a publicity stunt? 🤷

  7. Due to the crypto winter, Coinbase has been forced to close its Chicago office. Sirin Labs, the creators of the Finney blockchain phone, also cut its staff by 25% this week due to sales of its flagship product being “less than expected”. 🥶

  8. Following Binance's delisting of Bitcoin SV (BSV) last week, a slew of additional crypto exchanges have followed suit, including Blockchain.com, ShapeShift, and Kraken. 😂

  9. And according to Adamant Capital, Bitcoin (BTC) has officially entered an accumulation phase and is expected to trade between $3K - $6.5K USD until the next bull run "permanently cements the denarian cryptocurrency as a multi-trillion dollar asset class.” According to their report, the current price of BTC represents "an exceptional opportunity for value investors" and yep, I think they're spot on. 🎯

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