๐Ÿš€ What does the future hold for crypto?๐Ÿ”ฎ

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    ๐Ÿš€ What does the future hold for crypto?๐Ÿ”ฎ

    All about the midweek madness, Geckos!

     

    We all know that crypto hacks and digital heists are issues that confront the crypto industry on a daily basis, don't we?

     

    We just didn't expect to hear that the United Nations is claiming North Korea to be behind a $281 million exchange hack that was then appropriated to fund its nukes.

     

    It is speculated that this heist is referring to the September 2020 KuCoin hack where Chainanalysis estimated their loss to be approximately $275 million back then.

     

    The UN also notes that North Korea has generated roughly $2 billion in total through increasingly sophisticated cyberattacks targeting banks and crypto exchanges since 2019.

     

    In today's news, trading volume in ETH futures exceeds $30 million, DeFi's Curve Finance branches out to Polkadot (DOT), and the big boys are now part of the game.

     

    Read on!

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    Ethereum's Bright Future

     

    The ETH futures contracts that were recently launched by the Chicago Merchantile Exchange (CME) have just seen more than $30 million in trading volume on the first day on the market.

     

    On the first day of trading, around $20 million in open interest was generated, which represents the number of contracts available for trade.

     

    ETH futures on CME marks a major milestone as institutional investors and risk-averse corporations are now granted exposure to the native asset of the largest decentralized development platform in crypto.

     

    Decrypt

    Curving into Polkadot

     

    Directly addressing the high fees that are incurred when swapping assets on Ethereum, Curve's AMM, Equilibrium is building out a cross-chain version of Curve Finance on Polkadot.

     

    With Equilibrium building the product on Polkadot, users may finally get peace of mind regarding the typically high fees that come with cross-chain transactions.

     

    It is indeed exciting to see how Curve and Polkadot may unlock some big cross-chain functionality.

     

    CoinDesk

    The Big Boys Are Now Indirectly Exposed to Bitcoin

     

    As Tesla's shareholders, both JP Morgan and Goldman Sachs are now indirectly exposed to Bitcoin (BTC) after Tesla takes a big bite of Bitcoin.

     

    Goldman owns 1.14% of Tesla's stock while JP Morgan has disclosed that they own 0.92% of the company's shares in 2020.

     

    Both companies have been critical of cryptocurrencies in the past with JP Morgan's CEO Jamie Dimon once calling Bitcoin ' a fraud ' and Goldman stated that Bitcoin was 'not an asset class'.

     
    Decrypt

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    Consensus

    Consensus is what allows a distributed system (like the blockchain) to function as a decentralized peer-to-peer system without the need to refer to a central authority figure for all participants to agree on what is the correct data. Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added to the blockchain.

     

    Learn about other Crypto terms here

    Read more on CoinGecko

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