Walmart is looking for Crypto Product Manager, Dogecoin Foundation is active again after long hiatus, Coinbase has amassed $ 4 billion war chest: Holder’s Digest, August 15-21
Come every Saturday, Hodler’s summary will help you keep up with every major news item that has occurred this week. Best (and Worst) Quotes, Adoption and Regulatory Highlights, Major Coins, Predictions, and More – One Week on Cointelegraph in One Link.
The best stories this week
Walmart is looking for a crypto product manager to drive its digital currency strategy
On August 16, it was reported that U.S. retail giant Walmart was looking for an experienced crypto expert who could develop and drive a digital currency strategy and product roadmap for the company.
According to the job listing, Walmart is looking for someone with a background in leadership and business development. They also want to have at least 10 years of experience in product / program management and technology-based product marketing.
Ideally, the candidate should also know a thing or two about crypto, blockchain technology, and why badly-drawn pet rock JPEGs sell for absurd prices on Ethereum.
Walmart’s future digital currency and crypto product manager will be based at the company’s headquarters in Bentonville, Arkansas. The state has produced talents such as Billy Bob Thornton and Johnny Cash, as well as Bill and Hillary Clinton.
The team officially restores the Dogecoin Foundation after 6 years
There was good news for Doge fanatics this week as the Dogecoin Foundation resurfaced after several years of total media silence.
According to an announcement released on Tuesday, the foundation said it was recovering in a bid to support the fiery-eyed Dogecoin (DOGE) community. The foundation also said it will announce new projects focused on encouraging adoption of DOGE and promoting its usefulness.
The project website lists Ethereum co-founder Vitalik Buterin, Dogecoin co-founder Billy Markus, and Dogecoin Core developer Max Keller as members of the advisory board. Additionally, the interests of Tesla CEO and DOGE promoter Elon Musk can be taken care of in the shadows through Neuralink CEO Jared Birchall.
It has not yet been revealed if Musk’s “toddler hodler” son has uploaded to DOGE in light of the announcement.
Coinbase Amounts $ 4 Billion War Chest So It Can Survive ‘Crypto Winter’
Coinbase, the first crypto exchange in the United States, has amassed a war chest of cash worth $ 4 billion on the back of two very productive quarters for the company.
The company reportedly planned to use the money to cover costs incurred by various factors, including compliance with new regulations enacted by the United States legislature.
Coinbase also announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group, while revealing its intention to add $ 500 million worth of crypto on its balance sheet and invest 10% of all profits generated in digital assets in the future.
Winners and losers
At the end of the week, Bitcoin is at $ 48,778, Ether at $ 3,282 and XRP at $ 1.28. The total market capitalization is $ 2.09 trillion, according to at CoinMarketCap.
Among the 100 biggest cryptocurrencies, the top three altcoin winners of the week are Avalanche (AVAX) at 105.79%, Arweave (RA) at 96.17% and Audius (THE AUDIO) at 93.78%.
The top three losers of the week in altcoins are DigiByte (DGB) at -5.06%, Celsius (CEL) at -4.44% and BitTorrent (BTT) at -3.81%.
For more information on crypto prices, be sure to read Cointelegraph Market Analysis.
The most memorable quotes
“Poly Network does not intend to hold Mr. White Hat legally responsible, as we are confident that Mr. White Hat will quickly return full control of the assets to Poly Network and its users. As we have indicated in previous announcements and encrypted messages that have been made public, we are grateful for Mr. White Hat’s outstanding contribution to the security improvements of Poly Network.
Poly Réseau team
“Lawmakers and regulators must work together to properly balance the protection of innovation with any new regulations to ensure that the digital asset market thrives in the United States. “
Glenn Thompson and Patrick McHenry, American representatives
“The most important thing that can be done today is to move away from the idea that piece voting is the only legitimate form of decentralization of governance.”
Vitalik Buterin, co-founder of Ethereum
“Here at home in America, […] our payments infrastructure is arguably the worst of any developed country in the world, and falling further and further behind, as China resolutely and eagerly works to build an infrastructure that will make the digital yuan a challenger to the dollar as a global reserve currency.
David Marcus, co-creator of Diem
“Ethereum is outperforming Bitcoin, and this trend can be expected to continue for the remainder of 2021.”
Nigel Green, CEO of DeVere Group
“Everything revolves around DeFi. […] It’s the Treasury Department trying to find a way to get jurisdiction over DeFi […] and also extend its warrantless oversight over a peer-to-peer financial system. “
Jake Tchervinsky, General Counsel at Compound
“Frankly, as one of the first pilots, we have on the table the issue of payment of salaries to employees of the Ministry of Digital Transformation in electronic hryvnia.”
Mykhailo Fedorov, Deputy Prime Minister of Ukraine
“It’s important to remember that when we look at the business, the long-term arc of digital asset adoption in crypto matters far more than the businesses we build. “
Mike Novogratz, founder and CEO of Galaxy Digital
Prediction of the week
Ethereum’s ‘liquidity crunch’ could see new ETH high before Bitcoin – Analyst
Bitcoin, the crypto industry’s largest asset by market cap, and Ethereum (ETH), the second largest asset, have both seen notable price recoveries in recent weeks. While BTC has yet to be surpassed as the top dog in the crypto industry, ETH could hit its own all-time high of nearly $ 4,400 before BTC hits its all-time high of nearly $ 4,400. $ 65,000, according to the thoughts of CryptoQuant CEO Ki Young Ju.
“The $ ETH could hit an all-time high before the $ BTC in the long run,” Ju tweeted on Wednesday. “The current $ ETH price is closer to the ATH compared to the $ BTC. Higher demand, lower supply. The sell-side liquidity crisis of $ ETH intensifies further, while the $ BTC foreign exchange reserve stopped its downward trend in May. ”
Friday, BTC has fluctuated above the $ 48,000 mark, and ETH were trading above $ 3,200 – which, however, are both still well below their record highs.
FUD of the week
JPMorgan Chase reportedly closed bank accounts for mining company Bitcoin
On August 19, US banking giant JPMorgan Chase reportedly blocked all account activity of mining company Bitcoin Compass Mining.
Whit Gibbs, CEO of Compass Mining, took to Twitter to share the news:
“Shout at @Chase for shutting down @compass_mining accounts for doing our part to replace the old guard with self-sovereign, forward-looking hard-money supporters.” Get behind #Bitcoin or get out of our way. “
It’s unclear if the tantrum will be enough to convince JPMorgan Chase to change his mind, and it’s also unclear how shutting down banking services to a Bitcoin mining company represents an attack on BTC in any way. .
On the contrary, the banking giant increased its exposure to Bitcoin and the crypto industry in 2021.
$ 80 Million Hacked Cash Exchange
Liquid, a Japanese crypto exchange, suffered a hack of over $ 80 million this week, which made the platform less… liquid.
Cointelegraph reported on the news quickly after the exchange announced the attack, which compromised digital assets including BTC, Tron (TRX), Ripple (XRP) and ether.
The exchange explained that only its hot wallets were affected and added that its assets were being moved to a cold warehouse for security purposes.
The platform has since provided an update and revealed that the hack totaled $ 91.35 million. The company urged users not to deposit any crypto assets into liquid wallets until further notice.
T-Mobile investigates possible data breach on 100 million customers
Speaking of hacking, US telecommunications giant T-Mobile was investigating an alleged massive data breach earlier this week that may have compromised the information of more than 100 million users.
According to Vice’s Motherboard, T-Mobile is investigating a potential data breach claimed by an author who posted details on an underground forum. A report on Sunday said the hacker claims to have obtained data on more than 100 million customers from T-Mobile servers.
Unlike the Poly Network hacker, who siphoned off $ 600 million value of digital assets because “cross-chain hacking is hot”, the T-Mobile hacker seems to display entrepreneurial instincts, as they were asking for 6 BTC – worth around $ 280,000 at current prices – in exchange for some of the data.
Best Cointelegraph Features
Shanghai special: fallout from crypto crackdown and what happens next
Owning Bitcoin is not prohibited, but many fear for the future of regulation in China. Here’s where we are and where we might be heading.
Poly Network hack exposes DeFi loopholes, but community comes to the rescue
Hacker DeFi’s original intentions remain unclear, but they refused to accept a $ 500,000 bounty after returning all funds.
The Perfect Storm: DeFi hacks will drive the crypto industry forward
There is a silver lining in DeFi hacks as new technologies develop to protect the industry: “DeFi will be much more secure in 12 months. “