Plus — could a crash in the crypto markets one day destabilize global economies? A top official at the Bank of England thinks this is a real threat.
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1M Join Coinbase NFT Waitlist 🔥
If OpenSea wasn't already having sleepless nights over Coinbase NFT, they will be now. The exchange has revealed that more than one million people have joined the waitlist for its new platform — all in a single day. By comparison, OpenSea had 442,841 users over the past month. Is the world's biggest NFT marketplace now in jeopardy? Here's our latest story.
Fancy a SpongeBob SquarePants NFT? 🧽
ViacomCBS has entered into a multi-year deal to develop digital collectibles that span its entire portfolio. The company owns brands including CBS, Nickelodeon, Comedy Central and MTV — and series including SpongeBob SquarePants and Star Trek. Its fan-focused platform aims to launch in the spring of next year. Find out about its new partnership.
Couple Who Lost $700,000 Attack Coinbase 😡
A couple have revealed how they lost their life savings after their Coinbase account was targeted in a phishing attack. They watched helplessly as 21 Bitcoin was drained from their accounts. Speaking to CNBC, they attacked the exchange's customer service — and said a new phone line designed to offer support hasn't helped them get their crypto back. Read more.
'Massive Collapse' in Crypto Prices 'Plausible' 😬
A senior Bank of England official said crypto prices could suffer a "massive collapse" — and one day, a downfall could destabilize the world's biggest economies. Sir Jon Cunliffe pointed to how the market cap of all cryptocurrencies stands at $2.3 trillion. The subprime mortgage market, which triggered the 2007 financial crisis, was worth just $1.2 trillion. What he said.
Romance Scams Get More Sophisticated 💔
A cybersecurity firm has warned fraudsters are using new techniques to scam dating app users. Some criminals are inviting people to download bogus crypto trading apps so they can take part in an "unbeatable" investment, but never end up seeing their funds again. Sophos says an estimated $1.4 million has been lost in the U.S. and Europe. How it works.
BlockFi Card Users Are Big Spenders 💳
BlockFi has released new data about its Bitcoin rewards credit card. The figures show that the typical user is set to spend more than $30,000 this year — 450% more than the average of $5,000 spent on normal Visa, Mastercard and AmEx cards. Growth projections indicate $2 billion will be spent on BlockFi's cards in the first year of operation. Check out the numbers.
Bollywood Stars Back Crypto Exchanges 🇮🇳
Diwali is just around the corner in India — and the festival often sees people make big investments in things like gold and diamonds. But now, crypto exchanges have enlisted top Bollywood stars to encourage Indian consumers to consider Bitcoin instead — including Ranveer Singh and Amitabh Bachchan. Why the Reserve Bank of India isn't happy.