Welcome to Barmy’s Daily Crypto News – July 21st, 2022
1. Elon Musk’s Tesla Sold 75% Of Bitcoin Holdings
Elon Musk, the CEO of Tesla, provided an explanation for the company’s decision to sell 75% of its Bitcoin holdings, which were valued at $936 million, during today’s earnings call.
“The reason we sold a bunch of our Bitcoin holdings was that we were uncertain when the COVID lockdowns in China would alleviate,” Musk said on the call. “So it was important for us to maximize our cash position, given the uncertainty of COVID lockdowns in China.”
Tesla realized a gain when it converted the majority of its Bitcoin holdings to fiat, the business said on the call. This resulted in a $106 million cost to the P&L (profit and loss) that was tacked onto restructuring costs related to deliberate workforce reductions.
2. Ethereum NFT Whale Lost 100 ETH Due To A Joke
The anonymous collector Franklin, who holds 57 priceless Bored Ape Yacht Club NFTs, registered the ENS name stop-doing-fake-bids-its-honestly-lame-my-guy.eth on Tuesday using a different Ethereum wallet, and today used his primary wallet to place a 100 WETH (Wrapped Ethereum) bid, which is currently worth close to $151,000.
He clarified in tweets that it was a joke to have the ENS Bids Twitter bot send it out, perhaps mimicking the same procedure. Franklin, however, sold the ENS domain to someone else today for just under 1.9 ETH ($2,880), and he tweeted to celebrate making money.
He neglected to remove the bid of 100 ETH from his other wallet, too. The new owner of the famous ENS name accepted the bid and got the 100 ETH within fifteen minutes after the sale. Franklin has his wacky ENS name back, but the whole ordeal has cost him 100 ETH.
3. Premint Returns To Hacking Victims The Restored $500K In Ethereum
Premint, a platform for registering NFTs, had a theft over the weekend in which over 300 NFTs were taken from users’ wallets. Today, Premint declared that it would compensate the victims of the hack.
Premint CEO Brenden Mulligan revealed that the business undertook on-chain investigation this week in conjunction with “a third-party, non-Premint employee” to generate a list of all NFTs stolen during Sunday’s attack during a live-streamed incident update.
Every related crypto wallet on that list will be paid in Ethereum (ETH) over the course of this week in an amount equal to the collection floor price of each stolen NFT as of 10:00 a.m. PST this morning. Mulligan asserted that Premint will pay out a total of of 340 ETH, or slightly over $525,000, to clients who had been victimized.
4. Benzinga CEO Is Among One Of THe Biggest Voyager’s Creditors
According to a recent court document, Jason Raznick, CEO of the media company Benzinga, has been added to the unsecured creditor committee in the Voyager Digital bankruptcy case.
Creditors’ committees in chapter 11 bankruptcy proceedings are typically made up of individuals and businesses with the debtor’s seven highest unsecured claims, in this example, New Jersey-based cryptocurrency brokerage Voyager Digital.
This is important. The committee’s duties include coming up with a plan for the company’s reorganization—without which the matter cannot be resolved—or determining whether the corporation should be dissolved.
5. Final Fantasy NFTs Are Coming To Polkadot
The Final Fantasy property, one of the most popular video game series of all time, will get the NFT treatment in 2023 thanks to a collaboration between Japanese publisher Square Enix and blockchain gaming company Enjin.
However, the NFTs won’t be entirely digital goods. In order to celebrate the 25th anniversary of the original PlayStation game, they are connected to real-world action figures and trading cards based on the popular role-playing game (RPG) Final Fantasy VII.
In the spring of 2023, Square Enix will introduce tangible trading card packs, which will cost $4 every six-card pack. Each one has a code that can be redeemed for a single NFT trading card that Enjin produced on their Efinity platform, which is launched on the Polkadot blockchain.
Stay with us for more crypto news. Comment your thoughts of these news on our social channels below: