February 10: Crypto Summary
Super weird sale of Melania Trump's NFT. U.S government holds $4.6 billion worth of Bitcoin 🤯
gm to everyone beating inflation with magic internet money.
wagmi
Markets
Here are today’s market moves:
Here's what you need to know:
Melania Trump's NFT was sold for $170,000 to....herself
The address #1 that minted the NFT sent 473,657.64 USDC to an intermediary address #2. The intermediary address swaps some of that USDC for 1,816.08 SOL. Then Address #2 sends 1800 SOL to address #3.
Then address #3 makes a bid and wins the NFT for 1800 SOL. That 1800 SOL goes to address #1 (the one that minted the NFT). Then address #1 sends the 1800 to the intermediary Address #2. The intermediary address swaps the 1800 SOL to USDC.
Confused? Me too. The Vice elaborates about it here.
We assume most initial NFT sales are made by the original owners to boost up the price, but probably done in a less detectable way. The folks who sold the Trump’s NFT weren’t that good at it.
U.S government holds $4.6 billion worth of Bitcoin
The US government’s holdings are more than twice that of both Ukraine, with $2.01 billion, and Tesla, with $1.86 billion. It’s right behind MicroStrategy in BTC holdings!
This is news to us! 🤯
As of February 2022, the government owns $4.6 billion in BTC holdings that were obtained through confiscation. The amount of cryptocurrency seized by the US government in 2021 alone surpassed $1 billion,
Crypto.com is now official title partner of the Formula 1 Miami Grand Prix
A new nine year deal has been signed that will see Crypto.com become an integral part of the newest Formula 1® event on the calendar, with its brand incorporated into the official event title and logo, in addition to exposure across the Miami International Autodrome.
This is HUGE. I mean seriously huge. This and the Super Bowl crypto ads are going to create massive awareness about crypto.
BlackRock plans to offer crypto trading to its clients
The New York-based company, which manages over $10 trillion in assets for institutions, plans to enter the cryptocurrency space with “client support trading and then with their own credit facility,” as reported by insiders.
The company will allow clients to use crypto assets as collateral for loans. This would allow clients to borrow money through BlackRock's integrated investment management platform, Aladdin, and invest in cryptocurrency more easily than before.
Did you hear?
11 years ago today, the price of BitCoin was just $1. Wish I was smarter when I first heard of it in 2015 😭
By the end of this year, Apple will enable crypto payments with ‘Tap to Pay’.
Ethereum overtakes Mastercard and Walmart to become 24th largest global asset.
Crypto lingo of the day
PoS:
Not piece of shit. In crypto, it’s a protocal. Proof of Stake uses digital coins for the right to validate new block transactions. Polkadot is one of many PoS protocol based cryptos.
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