Crypto Market Overview October 12th | Dex-Trade
"Wolves from Wall Street" Are Ready to Invest in Crypto: an Inside from Anthony Pompliano
Notorious bitcoin bull, Anthony Pompliano, told his YouTube audience that, according to his several anonymous sources, major Wall Street investors and major financial institutions intend to invest heavily in cryptocurrencies with an eye to the future: “Regardless of what happens to price in the short term, one thing is for certain. The big financial institutions, they’re here. They’re building teams internally, and they are going all-in on Bitcoin and crypto. That might not actually help the price in the short term. But that tells me over a long period of time, this industry is not going anywhere.” Pompliano is a co-founder and partner in the digital assets arm of Morgan Creek Capital, an investment firm, and an outspoken supporter of crypto. According to his estimates, the flow of investments in the digital asset market from financial institutions can increase significantly as soon as transparent regulatory conditions appear. He spoke about this in a recent interview with the CEO of the fintech company LMAX Group, David Mercer. However, specifics are not enough yet, as Pompliano just hinted that he could name the six largest banks in the world, which, if and when they get the green light from the regulatory environment, will be able to deploy investment companies in all cryptocurrency markets within a month. Even if they can't...
$10 Million in NFT Paintings Are Burning Live: Damien Hirst 'Turned on the Heat'
Britain's richest artist, Damien Hirst, decided to stage a memorable performance as part of his NFT project called "The Currency" and set fire to his own digital works, which are estimated to be worth around $10 million in total. The burning took place live from the artist's London gallery on October 11 at 12:30 pm local time. Hundreds of physical pieces of art from The Currency went to waste, because that's how Hirst decided to make sure that from now on his work would only exist in NFT form. The goal of the project was a social experiment that was supposed to show the real value of digital art in comparison with classical, material art. All collectors who purchased one of the NFTs at a minimum price of $2,000 were given one year to decide whether they wish to keep the NFT or trade it for a physical painting. The time for making a decision expired in July this year. As a result, 5,149 paintings were to be delivered to their owners as physical works of art, while 4,851 paintings remained digital only. Asked how he feels about burning a work of art, Hirst said: “It feels good, better than I expected."
Ultimatum from Mango Markets Hacker: Money Must Go to Pay Debts
The hacker who exploited $100 million in MSOL, SOL and MNGO yesterday from decentralized finance (DeFi) lending protocol Mango Markets (MM) issued an ultimatum that he would return the stolen funds provided that MM repaid bad debt using USDC that they have. This is the debt of big whale Solana, which Mango Markets and rival lending platform Solana Solend pooled funds to repay. The amount of debt is $207 million and it is distributed among several lending platforms. The reason for the formation of debt was the collapse of the market that occurred after the whale took 88% of the available USDC on Solana. Lending platforms decided to join forces to close the debt due to fears that if the SOL token falls another 20%, the whale's positions will be liquidated and this will cause a massive sell-off that will negatively affect the Solana ecosystem. The hacker's ultimatum also includes a promise to Mango that they will not open criminal proceedings, investigate the embezzlement, or freeze his funds. How will this affect the reputation of the native MNGO protocol token? Well, over the past day, its value has fallen by 38%. Investors don't seem to have much confidence in a service that can be hacked with impunity...