Jack Dorsey Says “No” to Ethereum on Portfolio

Jack Dorsey’s Twitter social media platform has been on top of other platforms that have been heavily releasing NFTs on the Ethereum blockchain. On Wednesday, Twitter has given away 140 NFTs that comes with seven different designs. One of these NFTs is the First Born, an NFT that features Dorsey’s first-ever tweet.

But despite this, Dorsey has not considered adding ETH (ethereum) to his investment portfolio. He remains a BTC (Bitcoin) loyal proponent along with Microstrategy founder and CEO Michael Saylor.

Cash App, a mobile app developed by Square, one of Dorsey’s companies, offers for paying bills, sending and receiving money, and even invest in stocks. But here’s the catch. The platform only supports one cryptocurrency and that is BTC (bitcoin).

He replied a “No” to a Twitter user Packanimal on a possible investment in ETH (ethereum) in the future.

His straightforward answer has drawn criticisms from the community with another user even argued that being on NFT has inevitably made him part of the ETH ecosystem.

In a tweet he made way back in 2019, Dorsey stated that the only cryptocurrency he owns is Bitcoin.

Dorsey was among the attendees of the recently concluded Bitcoin 2021 held in Miami. He was joined by other major bitcoin proponents like Nick Szabo, Michael Saylor, Cynthia Lummis, Tony Hawk, and Galaxy Digital founder and CEO Mike Novogratz.

But BTC (bitcoin) dominance is now being threatened by ETH (ethereum) as admitted by other bitcoiners. This was acknowledged by Novogratz in a recent interview with Bloomberg. He stated that ETH (ethereum) will soon overturn BTC (bitcoin) and become the “biggest cryptocurrency one day.”

Bitcoin volatility has seen an increase over the past few weeks. Several factors have highly contributed to the hyper volatility of the most dominant cryptocurrency. China’s recent crackdown on bitcoin mining and trading and other crypto-related activities, the pressure from the US Federal, and yes Elon Musk’s tweets.

But despite all the threats, some bitcoiners like Jack Dorsey remain unfazed. During the Bitcoin 2021 event, he stated:

“Bitcoin changes absolutely everything. “I don’t think there is anything more important in my lifetime to work on.”

He even added that he is even more than willing to leave Twitter and Square for BTC (bitcoin).

“if I were not at Square or Twitter, I would be working on bitcoin. If [bitcoin] needed more help than Square or Twitter, I would leave them for bitcoin”

Binance Resumes Faster Payments Withdrawals for UK Customers

Binance resumes Faster Payments withdrawals for U.K. customers

On June 30, Binance has resumed fiat withdrawals through Faster Payments following a two-day temporary suspension citing maintenance as the reason. The suspension was posted on the platform’s website on June 27. 

But the suspension was apparently in compliance with an order by the Financial Conduct Authority issued on June 27. The regulatory body has called Binance Markets Limited and the Binance Group to stop all regulated activities for derivatives and securities in the country.

According to an uploaded notice by the Binance UK, in compliance with FCA’s order, Binance Markets Limited is not allowed to operate regulated activities in the United Kingdom.

“Binance.com is a platform providing various products and services to global customers. Some of these products and services are regulated outside the UK, while others are not. Binance Markets Limited is a UK based company which has not yet carried on any business. BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITIES IN THE UK.”

The recent move by the FCA was mainly due to the high volatility and risk that comes with derivative trading which allows investors to borrow to increase the amount of their investment.

Crypto exchange Huobi has also halted derivatives trading for its customers from more than 10 countries including the U.K. following a crackdown on these countries.

Baby Doge, Elon Musk Newest Crypto Love

Baby Doge Coin Elon Musk's newest crypto favorite

Baby Doge, a newly launch dog-theme token is now Elon Musk’s newest crypto love. This is following a tweet he made on the crypto sending its price to a remarkable increase of 549.5%.

On July 1, Musk made a tweet in reference to the crypto in the tune of Baby Shark Dance, a popular children’s song on Youtube.

Baby Doge Coin is a three-week-old token launched in Binance Smart Chain but has no real-world use case, nor does it have any clear advantages over other cryptocurrencies. It has gained popularity for its “cuteness”, nothing more, nothing less.

According to Baby Doge’s developers, wants “to impress his father by showing his new improved transaction speeds & adorableness.” And probably Musk with his cuteness really worked after gaining attention from the Dogefather.

The token also focuses on charity by donating to Paws With a Cause, a charity that provides shelter for dogs.

But despite all the cuteness, Musk endorsement, and the charity involvement of the token, the fact that it has no real-world case can be a major concern. Due diligence is a must before investing in any cryptocurrency.

As of writing, Baby Doge is now at $0.000000001769 in a data by Coingecko and has increased by 96.1% in a 24-hr chart.

COVID 19 Vaccines, Fake Certificates Now Sold on Darknet

COVID 19 vaccines and fake certificates now sold on the darknet

Scammers on the darknet are now exploiting the growing need for proof of immunity due to the COVID 19 pandemic. According to reports, COVID 19 vaccines, fake certificates, and even fake negative tests are now being sold on the darknet for BTC (bitcoin) and ETH (ethereum).

In March, the World Health Organization (WHO) has issued an early warning on this.

“Falsified Covid-19 vaccines pose a serious risk to global public health and place an additional burden on vulnerable populations and health systems. It is important to identify and remove these from circulation.”

In a report by the BBC, vaccine price ranges between $500 (£360) and $750 for doses of AstraZeneca, Sputnik, Sinopharm, or Johnson & Johnson jabs. Sellers of these vaccines were believed to be from the US, UK, Spain, Germany, France, and Russia.

Fake vaccination certificates on the other hand are being sold for $150.

Another report by the Wall Street Journal states that COVID 19 vaccines were also sold in batches. For $4,000 worth of BTC (bitcoin), a buyer can purchase 1,000 shots of Russia’s Sputnik V.  800 shots of either Pfizer Inc. or BioNTech SE vaccine for $20,000 in BTC (bitcoin).

Cryptocurrencies have long been associated with the dark web that has hurdled its early adoption to the mainstream. The Silk Road is one of the notable cases where cryptocurrencies particularly BTC (bitcoin) were used for criminal activities. With rigid crypto regulations implemented by most countries, will this spark the long-standing issue of the risk associated with cryptocurrencies?