Visa Buys a Crypto Punk: Crypto News Recap, Aug. 23
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Visa Buys a Crypto Punk: Crypto News Recap, Aug. 23

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1 year ago

Today, Visa has made its first public steps into the world of NFTs, while the Poly Network white hat hacker gets creative in his explanation.

Visa Buys a Crypto Punk: Crypto News Recap, Aug. 23

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Visa Buys $150K CryptoPunk, Pitches NFT Consulting 💳

Visa used the purchase of a $150,000, mohawk-sporting CryptoPunk NFT to publicize its role as a consultant to businesses that are interested in using super-hot non-fungible tokens. Along with revenue, brand-building, and customer engagement, Visa suggested data mining NFT wallets to better pitch buyers - even anonymously. Read more here.

“Mr. White Hat” Returns Last of Poly Network’s Hacked $612M 💰

Poly Network thanked the hacker known as “Mr. White Hat” after he returned the last of the $612 million he stole from cross-chain protocol two weeks ago. The hacker signed an Ethereum transaction message “Your Chief Security Advisor.” That’s a job Poly Network offered, along with a $500 million bug bounty, as the stolen crypto was returned. See the news.

Coinbase Promises USDC Reserves Going Back to Cash 💸

Facing criticism, Coinbase President and COO Emilie Choi said the USD Coin stablecoin would return its reserves to 100% cash or cash equivalents in September. A recent audit showed USDC is partially backed other investments, despite the longtime promise of 100% U.S. dollar backing. “Our language could have been clearer here,” Choi said. Get the details here.

Blockchain Has Gone Mainstream, 81% of Finance Execs Say 👏

A new survey from top auditing and consulting firm Deloitte found 81% of financial service industry executives believe blockchain has achieved mainstream adoption. The biggest barriers to crypto adoption are regulatory problems, cybersecurity, and legacy Big FInance, they said. “We’ve seen a significant shift in thinking,” a Deloitte consultant added. Check it out here.
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