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eBay targets crypto amateurs with first-ever NFT collection

Online auction site eBay is explicitly targeting ‘non-crypto-native’ users with its first-ever NFT collection. In a press release issued on Monday, the marketplace says its new collection, created in partnership with OneOf, will make NFTs “more accessible to a new generation of collectors everywhere.” According to eBay’s press release...

Republican politician faces probe over anti-Biden crypto scam

Prominent US politician Madison Cawthorn is being investigated by a House Ethics Committee amid allegations that he helped to pump and dump the anti-Joe Biden Let’s Go Brandon coin (LGB). According to a statement from the House Ethics Committee, Cawthorn “may have improperly promoted a cryptocurrency in which he may have had an undisclosed financial...

Crypto streamer arrested after failed Terra founder confrontation

A Korean cryptocurrency streamer who lost more than $2 million investing in Terra (LUNA) could lose his civil service job after attempting to confront Do Kwon at his home, reports the BBC. In five years, the social media content creator known as Chancers amassed a small fortune through investing in crypto. However, he told the BBC that $2.4...

Phishing scam uses Beeple’s Twitter to steal $400k in crypto and NFTs

Famed digital artist Beeple saw his Twitter account hijacked last weekend with hackers using it to scam $400,000 in crypto and NFTs from the illustrator’s followers and fans. The attack was discovered by a MetaMask security analyst when the artist apparently started promoting a raffle offering NFT artwork created in collaboration with luxury...

Raoul Pal doesn’t want people to be angry after he appeared to hype Terra

Under fire crypto guru and Real Vision CEO Raoul Pal has appealed to investors to be nice to each other, claiming “this is just investments, not a philosophical justice war” — barely six months after telling subscribers that doomed network Terra was “basically risk-free.” Pal made the impassioned plea on Monday in a tweet that also saw him bemoaning...

Biden’s executive order: Incoming crypto reports explained

President Biden’s March 9 executive order requested comprehensive research on digital assets and a potential US central bank digital currency (CBDC) from a host of government agencies. The outcomes of these reports are likely to impact US financial systems — and deadlines are fast approaching. Domestically and abroad, Biden’s administration has...

Sam Bankman-Fried learns crypto donations don’t always win elections

Crypto billionaire Sam Bankman-Fried’s hybrid PAC of choice banked hard on political candidate Carrick Flynn, whose dramatic loss to Andrea Salinas in the Democratic primary for Oregon’s new 6th congressional district illustrates a hard-learned truth in American politics: wealth cannot guarantee political success. Just ask Michael Bloomberg, and then...

The Weekend Shift: Blockchain, Insider Trading, Graffiti

Welcome to the 68th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about. OK, only crypto? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends. Feel free to join...

YCombinator crypto DeFi startup StableGains lost $42M in Anchor Protocol

YCombinator startup StableGains held millions of dollars of customer funds within Anchor Protocol and lost it all without informing its users that their money was almost all in one risky third party product, Anchor. The Anchor Protocol once offered 19-20% APY to depositors before its parent ecosystem, Terra LUNA, lost tens of billions of dollars in...

Terra implosion could shape UK stablecoin regulations

The UK’s financial regulator is turning its attention to stablecoins after the $40 billion collapse of the Terra DeFi network, reports Bloomberg. The Financial Conduct Authority (FCA) is set to begin working with Her Majesty’s Treasury to lay out the UK’s crypto regulation after chancellor Rishi Sunak promised to turn the nation into a crypto...

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