Welcome to Barmy’s Daily Crypto News – December 15th, 2022
1. Using PayPal to buy and transfer Ethereum is made possible via MetaMask
Users of MetaMask may now buy and send Ether using the digital payment service PayPal thanks to a partnership between PayPal and the parent firm of MetaMask, ConsenSys.
The service will initially only be available to a limited number of American PayPal users, given the US is one of MetaMask’s main user markets, according to the announcement made on December 14.
By just entering into their mobile MetaMask app, customers will be able to buy and transfer ETH from PayPal to MetaMask without any issues. They will then be redirected to their PayPal account to finish their transactions.
PayPal is one of a growing number of traditional payment providers incorporating cryptocurrency into their offerings and aiming to make it simple for customers to engage with the crypto ecosystem.
2. 5.7 million emails of Gemini exchange were leaked
On or before December 13 there seems to have been a data breach at a third-party vendor connected to Gemini. Hackers had access to 5,701,649 lines of data, including partial phone numbers and email addresses, belonging to Gemini consumers, according to papers obtained by Cointelegraph.
Names, addresses, and other sensitive personal data such as Know Your Customer data were not contained in the database that was leaked. The number of clients affected is probably less than the total number of rows of data because some emails were duplicated in the document.
Even minor security vulnerabilities in the Web3 sector might have major repercussions. One such event involves Trezor, a maker of cryptocurrency hardware wallets, and happened in April of this year. By hacking a third-party newsletter provider, hackers were able to obtain the email addresses of Trezor users. They then used this information to target customers in phishing scams, which resulted in losses.
In the course of the day, once concerns over the data leak were revealed, the Gemini exchange also momentarily went offline. At the time of publication, the exchange was fully operational.
3. The survey: the most metaverse-ready country
Whether or not customers are ready, the metaverse and digital reality experiences are rushing toward them. However, from a technology perspective, there are some regions of the world that are more prepared to accept a digital future.
The number of blockchain financial start-ups, broadband package costs, fixed broadband speeds, and the cost of high technology exports were all factors considered in a recent study by internet and telephone service researcher Uswitch to identify which nations are best suited to embrace the metaverse.
The Netherlands is at the top of the list because it has the best infrastructure to support such technologies. The Netherlands has one of the highest average fixed broadband speeds in the study, at 106.51 Mbps. Additionally, the nation exported high-tech goods worth almost $6,000 per person last year.
The Netherlands are followed by Switzerland, Malta, Lithuania, and France. It is well known that all of the nations in the top five spaces have expressed interest in the developing Web3 area. Particularly for a long time, Malta was a centre for blockchain technology.
4. For a $100 million stock manipulation conspiracy, the SEC is suing Atlas Trading
Eight people connected to Atlas Trading, a Discord-based community, were named in a complaint by the United States Securities Exchange Commission (SEC). Co-founders of the forum, podcasters, and YouTubers who are connected to them are accused of manipulating stock.
By taking significant positions in certain securities, advocating those stocks to their followers, and then selling their shares when demand increased as a result of their “deceptive marketing,” bloggers allegedly profited at least $100 million, according to the SEC. As examples of dishonest stock promotion, Alzamend Neuro, Torchlight Energy Resources, and ABVC firms were given. There was no mention of bitcoins or other digital assets in the case.
On the list of defendants are Atlas Trading co-founder Edward Constantin aka MrZackMorris, Perry Matlock, the “CEO” of the same forum, Pennies: Going in Raw podcast hosts Mitchell Hennessey and Daniel Knight, Thomas Cooperman and Gary Deel, the creators of the YouTube channel Goblin Gang, John Rybarcyzk, the creator of the Sapphire Trading forum, and Twitter influencer Stefan Hrvatin aka LadeBackk.
The lawsuit classifies Constantin, Matlock, Cooperman, Deel, Hennessey, Hrvatin, and Rybarcyzk as “principal defendants,” while Knight is accused of “aiding and abetting” those individuals. The Commission is asking for a court order that would prevent defense attorneys from engaging in any of the actions listed in the complaint, which could essentially include giving stock trading advice.
5. Jack Dorsey promotes a decentralized alternative to Twitter
Making a platform resistant to corporate or governmental control is a solution to Twitter’s censorship problems, according to former Twitter CEO Jack Dorsey.
The former CEO of the social media platform, Jack Dorsey, has advocated for a “free and open protocol” for social media in light of the internal inquiry conducted by Elon Musk that revealed censorship-related problems on Twitter.
The former CEO of Twitter claims that this entails making it resistant to corporate or governmental control, granting the exclusive authority to delete content to the author, and instituting moderation through algorithmic decision.
In addition, Dorsey provided updates on Bluesky Social, a decentralized social media initiative that was launched in 2019, on October 18. With the platform, there won’t be a business dictating what is published. Instead, a marketplace of businesses will choose what to “convey to their audiences.”
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