Weekend Updates — 12.02.2022
We’re helping you catch the best stories in cryptocurrency over the past week so you can stay well informed.
4 billion dollar Bitcoin hack makes TikTok girl Heather Morgan an Internet sensation
TLDR: More than 100,000 Bitcoin, one of the biggest crypto hacks in the world, hackers, and money untraceable for nearly 6 years… Sounds like a major heist, doesn’t it? Now, the Rapper Razzlekhan and her husband face charges of money laundering and defrauding the US, which amounts to 20 years and 5 years of imprisonment if found guilty.
📰 Full article (It’s pretty entertaining): https://www.dailyo.in/business/bitfinex-bitcoin-hack-recovery-heather-morgan-razzlekhan/story/1/35365.html
EU Weighs Potential Metaverse Regulation
TLDR: The European Union (EU) is analyzing the metaverse and the potential actions needed for regulatory control, Executive Vice President of the European Commission Margrethe Vestager said.
📰 Full article: https://www.coindesk.com/policy/2022/02/08/eu-weighs-potential-metaverse-regulation-report/
GameFi Faces Regulatory Headwinds in Major Asian Markets
TLDR: Mainstream crypto gaming has already had the challenge of lukewarm consumer interest, the industry faces an even greater challenge in some of the most important markets in Asia: a strict regulatory framework. Usually, with crypto, there’s an element of regulatory fog. For the regulator, Axie is no different from Seatalk as you can go to an exchange and easily exchange your tokens earned in the game into cash. Megan Huang, a research fellow at International Cyber Law at Korea University and a director at Delio, said the Korean Game Rating and Administration Committee has already blocked the distribution of play-to-earn games.
📰 Full article: https://www.coindesk.com/policy/2022/02/01/gamefi-faces-regulatory-headwinds-in-major-asian-markets/
Why is Polygon the next big thing in the crypto world?
TLDR: Polygon MATIC is a scalability platform that enables Ethereum-supported blockchains to communicate with one another. With the Layer-2 solution, Polygon does not require its own primary blockchain to function; instead, it operates on top of Ethereum’s network.
📰 Full article: https://economictimes.indiatimes.com/markets/cryptocurrency/why-is-polygon-the-next-big-thing-in-the-crypto-world/articleshow/89454382.cms
To Understand Bitcoin, We Need to Understand What Money Is
TLDR: The better the money is at holding its value, the more it incentivizes people to delay consumption and instead dedicate resources for production in the future, leading to capital accumulation and improvement of living standards,” economist Saifedean Ammous wrote in his book “The Bitcoin Standard.”
📰 Full article: https://www.coindesk.com/tech/2022/02/10/to-understand-bitcoin-we-need-to-understand-what-money-is/
The Bitcoin Mining Network — Energy and Carbon Impact
In the grand scheme of things, the carbon emissions emitted by electricity providers supplying the Bitcoin mining network are inconsequential. At 0.08 % of global CO2 emissions, removing the entire mining network from global demand — and thereby depriving hundreds of millions of people of their only hope for a fair and accessible form of money — would not amount to anything more than a rounding error.
Download the report here: https://pd.coinshares.com/l/882933/2022-01-25/52bz1/882933/1643724699zWkQqOwT/COINSHARES_BITCOIN_MINING_JAN22.pdf
