This Monday was a relatively calm day in the crypto markets as crypto investment products have continued to see new inflows and scammers have been attempting to impersonate CoinMarketCap to sell fake CMC tokens.
Inflows into digital asset investment products reached USD 180m last week. The figure marks a decline from a revised number of USD 244m the week before, when inflows reached their highest level since 2021, according to the crypto investment firm CoinShares.
BTC-backed funds saw by far the largest inflows last week with USD 144m being invested. Ethereum (ETH), meanwhile, saw inflows of USD 23m, while Solana (SOL) came in third with inflows for the week of USD 8.2m.
Notably, the report also said that short-bitcoin funds – investment products that will rise in value as bitcoin’s price falls – saw inflows of USD 1m last week. The latest inflows mean that a total of USD 9m is now invested in short-bitcoin funds.
In an attempt to defraud potential users, scammers hacked major crypto market data provider CoinMarketCap's CrypTown social network and published links to a fake token sale.
According to screenshots shared by users, the -owned CoinMarketCap's verified account shared a post teasing the crypto data aggregator's token presale. "Official CoinMarketCap Presale," the post read, before asking users to click on a seemingly fake link to buy "CMC" tokens.
While CoinMarketCap has not directly addressed the incident, the data aggregator did issue a notice, warning users that it would never ask for money, private keys, or any other personal information.
"CoinMarketCap is a data aggregator media service. We are NOT hosting a Pre-Sale for CoinMarketCap Tokens. Beware of scammers impersonating us," CoinMarketCap said.
Sue Ennis is the Vice President of Corporate Development, and Investor Relations at Hut 8 Mining. Sue is a Chartered Investment Manager, emerging technology and innovation champion, advisor, and investor whisperer. Prior to joining Hut 8, Sue worked with both start-ups and scale-ups in the blockchain and cryptocurrency space.
In this conversation, we discuss:
- ESG (Environmental, Social, and Governance) - Investor Relations being an underappreciated role - Public companies with BTC on their balance sheet - Current state of bitcoin mining - Opportunities beyond mining and into web 3 - Hut 8 recent acquisition of the traditional data center space - P2E gaming - Sue running marathons in Greenland and the Middle East - The importance of lobbyists and regulation - and more...
The UK government has today announced moves that they claim" will see stablecoins recognized as a valid form of payment as part of wider plans to make Britain a global hub for cryptoasset technology and investment.
Australian convenience store and gas station giant On The Run (OTR) will soon accept crypto payments at 170 outlets across South Australia and Victoria.
Intel announced it has launched its second-generation bitcoin mining chip, called “Intel Blockscale ASIC.” Each of the chips will have hashrate up to 580 gigahash per second (GH/s) and power efficiency of 26 joules/terahash (J/TH), they added.
China will expand the trial of its sovereign digital currency to a number of Chinese cities including Chongqing, Tianjin, Hangzhou, and Guangzhou.
KuCoin announced the launch of its NFT launch platform called KuCoin IGO, short for Initial Gaming Offering, on April 8, with the first project on it being a card-battle game named Pikaster. Participation details for the first sale should be announced on April 8.
Binance announced that deposits and withdrawals for Axie Infinity (AXS) and Smooth Love Potion (SLP) on the Ronin (RON) network have been resumed, while withdrawals of Wrapped Ether (WETH) on the Ethereum (ETH) network, and the convert function from WETH to ETH remain closed.
Tezos (XTZ) has activated the ninth upgrade to the protocol, codenamed Ithaca 2, which concerns block times, scalability, and network validator requirements. Over the last year, the blockchain has seen an increase in smart contract calls per month going from 100,000 in January 2021 to over 6.2m in January 2022, they added.
Celo Foundation announced the launch of Connect the World, a USD 20m campaign to incentivize the development of Celo on- and off-ramps. They also announced an open-source application programming interface (API) specification for payment providers, called FiatConnect, which should help simplify integrations.
Security services platform ImmuneFi announced that in Q1 2022, the Web3 ecosystem has lost more than USD 1.2bn to hackers, mostly due to Ronin Network which lost over USD 600m, and Wormhole which lost USD 326m. They added that these numbers represent almost a 7.9x growth compared to Q1 2021.
Lending protocol Inverse Finance suffered an exploit, with an attacker netting USD 15.6m worth of stolen cryptoassets, which they said they intend to repay to wallet holders 100%..
Gaming-focused NFT platform Fractal has raised USD 35m in a round co-led by Paradigm and Multicoin Capital.
IBEX Mercado, the company behind El Salvador’s bitcoin (BTC) rollout, announced that it has raised USD 4m in seed funding, with an overall valuation of USD 20m, in a round led by Stillmark.
SeaX Ventures announced the close of its second fund worth USD 60m, with a previous target size of USD 50m.
Kurt Hemecker, previously the chief of staff and head of internal business operations and human resources at stablecoin project Diem Networks, joined the blockchain project Mina Foundation as chief operating officer.
Digital asset investment company KR1 announced that Aeron Buchanan, the Vice President of the Web3 Foundation, has been appointed as a Non-executive Director of the Company.