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Crypto Flipsider News – July 15th – Cardano, DogeCoin Founder, Ransomware Task Force, Bybit and ShapeShift, Dolce & Gabbana NFT

  • Cardano Becomes the Most Staked Digital Currency
  • DogeCoin Founder Blames Crypto Space for Being Capitalistic
  • White House to Set its Ransomware Task Force
  • Crypto Trading Platforms: Bybit expands, ShapeShift closes 
  • Dolce & Gabbana Goes to NFT Space

Cardano Becomes the Most Staked Digital Currency

Cardano (ADA) became the leading currency by staked value, reported staking data platform Staking Rewards. According to their data, the total value currently staked on Cardano is $29.73 billion. The network provides 6.63% of staking rewards.

The other digital cryptos from the Staking Rewards’ Top-10, are Ethereum, Solana, Polkadot, Algorand, DAI, BSC, USDC, Terra and Cosmos. Polkadot offers the biggest  rewards (13.28%).

Flipsider:

  • It’s good to hear that someone is making nice profits from their rewards. At the same time, Cardano Foundation has just partnered with Save Children of Rwanda NGO, which enables direct ADA donations to the organization, so… You’ve got the idea 😉

DOGE Co-founder Called Crypto “Hyper-Capitalistic Technology”

Jackson Palmer, the co-founder of the famous DogeCoin (DOGE) shook up the crypto community with a series of anti-cryptocurrency tweets.

Answering the question of whether he’ll ever return to digital currencies, Palmer named cryptos “an inherently right-wing, hyper-capitalistic technology”. He noted that the crypto industry is controlled by a powerful cartel of wealthy figures. The crypto space is slowly evolving into a centralized financial system that it once aimed to replace, Palmer said.

He also added that cryptos serve to enlarge the wealth of their proponents, who exploit the lack of regulation, artificially enforce scarcity and avoid taxes.

Flipsider:

  • Nothing comes without a price in this world. If you want a mass adoption of cryptos, be ready for all the dirty side effects as well. 

White House to Set Its Own Ransomware Task Force

The U.S. presidential administration is preparing to launch a “cross-government task force to combat ransomware attacks”. As reported by Politico, the new task force will take part in the field of cyber defense and will take a proactive approach against ransomware operators. It will also contribute to halting ransom payments through cryptocurrency platforms.

The move comes after a series of large-scale Russia-linked cyber ransomware attacks that caused chaos in the United States earlier this year.

Flipsider:

  • United we stand, divided we fall? Congratulations must go to the multiple governmental bodies for joining forces to fight cybercriminals. The U.S. alone won’t be enough in the field. Since some ransomware groups might be related to their governments, international cooperation is also very much needed in this Cyber World War.

Everlasting Big Brand Story: Now Even D&G Has an NFT

One of the most famous fashion brands, Dolce and Gabbana, partnered with luxury marketplace UNXD in order to create a line of NFTs together. The marketplace is digital and powered by the Polygon Network. The collection will be called Collezione Genesi, or the “Genesis Collection”. The collection will be shown in Venice, on Alta Moda, Alta Sartoria, and Alta Gioielleria labels.

Flipsider:

  • It seems we are experiencing a new bandwagon measuring up to the one filled with boomers. This time, the hype train is accepting volunteering brands creating their own NFTs. Unfortunately, the bigger they come, the harder they fall.

Exchanges Updates: ShapeShift and Bybit

ShapeShift is switching its business model to a decentralized autonomous organization (DAO). This means that holders of its FOX token will be controlling the crypto trading pioneer now. As a result,  ShapeShift have airdropped $98 million in crypto to DeFi investors across multiple blockchains. The company will not have any employees.

Bybit is expanding its offerings. The new introduced type of contract is derivatives. These have been available to users since 6:00 UTC of July the 15th. The first trading pairs are BTC-USDT, ETH-USDT, XRP-USDT, and EOS-USDT. More are coming shortly, according to the official email newsletter.

Flipsider:

  • Change is the only constant. However, it is difficult to ignore the impact ShapeShift’s choice to move towards decentralization must have had on its (soon to be) former employees. 

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