Category Archives: Cryptocurrency

This article is a writeup of the sixth episode of CRYPTOLAND, Motherboards documentary series about how cryptocurrency is affecting culture, politics, the environment, and our shared future. Watch it on Motherboards YouTube.

Ransomware has become an epidemic on the internet, targeting businesses, government agencies, hospitals, and schools, with hackers attempting to extort victims.

Its a decades old problem, but it has become prevalent in the last few years, when dozens of cybercriminal gangs have started developing their own ransomware, or creating affiliate programs where the ransomware creators share the code with others in exchange for a cut of the proceedings. Initially, hackers targeted individuals, asking for a few hundred dollars in Bitcoin, but now they go after bigger targets, which they can extort for larger amounts, and which cannot afford to remain without access to their computers and servers, such as Colonial Pipeline.

Affton High School in Missouri is just one of around 1,000 U.S. schools hacked last year with ransomware. On Feb. 24, 2021, all the schools systems were affected by a ransomware attack.

On that day, Adam Jasinski, the director of technology for the schools district, woke up to an email from a teacher that contained a screenshot of a ransom note.

I knew something was wrong right away because I can see that the screen I use on the desktop and it was blue, Brian Esselman, a teacher at the school, told Motherboard. It said some very rude things of course and I realized right away that this was a problem.

Jasinski rushed to work, panicking the entire time he was driving, he said.

He then checked the server room, while the superintendent called off the school day.

Every byte on any types of your devices was encrypted. Dont try to use backups because it were encrypted too, the ransom note read. To get all of your data back. Contact us.

Jasinski said he quickly concluded that the hackers had stolen data from the school districts HR department containing social security numbers and other personal data of around 1,000 people.

Luckily, the schools backups were not impacted. So Jasinski did not even have to contact or engage with the hackers at all.

When ransom payments do happen, companies like Chainalysis can track the Bitcoin through the blockchain, identifying the hackers wallets and collaborating with law enforcement in an attempt to recover the funds or identify the hackers themselves.

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How Cryptocurrency Gave Birth to the Ransomware Epidemic - VICE

This 2022 year will be the best for such top 10 long-term cryptocurrency investments.

The year 2021 has been one of a kind for cryptocurrencies for the sole reason that the cryptocurrency market witnessed a roller coaster ride. Some cryptocurrencies made unfathomable gains whereas some busted massively. Taking such volatility into account, what 2022 has in store for these digital currencies is something that all the investors are looking forward to. Here are the top 10 long-term cryptocurrency investments that you should consider in 2022.

Current Price: US$42,275.85

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009. Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamotos own words, to allow online payments to be sent directly from one party to another without going through a financial institution.

Current Price: US$3,178.40

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed Frontier. Ethereums own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime, and fraud.

Current Price: US$1.00

USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. Tether is useful for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies. This creates liquidity for exchange platforms, creates no-cost exit strategies for investors, and adds flexibility and stability to investors portfolios. It is one of the best long-term cryptocurrencies to buy and hold in 2022.

Current Price: US$415.36

Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binances name is to show this new paradigm in global finance Binary Finance, or Binance. Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world.

Current Price: US$0.9998

USD Coin (known by its ticker USDC) is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions. The stablecoin was originally launched on a limited basis in September 2018. Put simply, USD Coins mantra is digital money for the digital age and the stablecoin is designed for a world where cashless transactions are becoming more common.

Current Price: US$110.16

Solana is a highly functional open source project that banks on blockchain technologys permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

Current Price: US$0.7429

XRP is the native cryptocurrency of Ripple, a cryptocurrency payment system created by Ripple Labs Inc. XRP is its digital asset built for global payments, implying that Ripple plans to rival money transfers usually conducted by the banking system. XRP would allow users to send money at a very low cost, attracting the potential interest of retail customers and banks alike. A key value proposition of Ripple is its minuscule transaction costs while offering transaction finality of under five seconds.

Current Price: US$1.01

Cardano was founded back in 2017, and named after the 16th-century Italian polymath Gerolamo Cardano. The native ADA token takes its name from the 19th-century mathematician Ada Lovelace, widely regarded as the worlds first computer programmer. The ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software.

Current Price: US$88.31

Terra is a blockchain payment platform for stablecoins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the Terra platform and is used to mint more Terra stablecoins.

Current Price: US$79.71

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Avalanche launched on mainnet, on September 21, 2020. Since then, the platform has grown to secure over 450+ individual projects, $118M+ of AVAX burned (reducing supply), 1,350+ individual block-producing validators, and over 1.5M+ community members around the globe.

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Top 10 Long-term Cryptocurrency Investments to Consider in 2022 - Analytics Insight

Spring Break goers define cryptocurrency to Fox News for those who don't understand how it works

Spring break goers on Miami Beach gave Fox News their definitions of cryptocurrency, saying its "the future of the financial system."

"Cryptocurrency is like a digital universal currency thats used online," a Canadian resident visiting Miami told Fox News. "Its kind of like stocks. It can go up or down. They fluctuate with the market, I guess, depending on the current trend."

Cryptocurrency, otherwise known as "crypto," is any form of currency that only exists digitally where transactions are secured through cryptography.

Fox News Digital asked young men and women on spring break to explain crypto for those who dont understand how it works.

Kent State University students speak to Fox News about cryptocurrency (Matt Leach/Fox Digital / Fox News)

A student from Kent State University told Fox News Digital crypto is "not real money" and that it is "confusing to a lot of people."

"You can't just go to the store," and spend ten Shiba Inu, he added.

BARSTOOL'S DAVE PORTNOY: BITCOIN, CRYPTO TOO BIG TO FAIL NOW

Theres a difference between "what the mass media wants you to go for and what actual crypto is," a University of Delaware student said. "Its kind of like the difference between the S&P 500 and buying a regular stock in the stock market."

Cryptocurrency is "reverse inflation," another student from the University of Delaware said, adding that it is "taking out the banks," and giving "more money for the people."

University of Delaware student told Fox News crypto is "the future of the financial system." (Matt Leach/Fox Digital / Fox News)

A Canadian resident visiting Miami said he thinks its "OK to have a lot of mystery around" crypto."

I understand the bitcoin and stuff like that, but when you get into the NFTs and all that area I dont really understand that.

"I dont see how a picture of a monkey can sell for half a million dollars," he added.

PETER THIEL: CRYPTO WILL NEVER BE' CONTROLLED BY GOVERNMENT, UNLIKE WOKE COMPANIES'

The students expressed their opinions on the specific currencies offered under crypto.

A Kent State University student told Fox News he invested in Shiba Inu and has "probably gained about a grand from it."

"I started about a year ago. It fluctuates a lot," he said. "Im not really invested in bitcoin. I dont have that much money, so I invest in the really cheap stuff."

"I think that Dogecoin represents the power of the people taking the power from the people that are abusing it," a University of Delaware student told Fox News. "Dogecoin started as a joke, and now it has real financial value based on its demands."

However, another University of Delaware student said he "doesnt really trust things like Doge coin" because its "made up."

"Just this morning I actually made $150 dollars on crypto," he added. "Ethereum is going to the moon right now."

Wisconsin resident on spring break in Miami Beach speaks to Fox News (Matt Leach/Fox Digital / Fox News)

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A Kent State University student said he really likes crypto because it "has a lot of unknowns," which he lives for. "I have about $400 dollars invested into it, but I have over a million shares of it. So if I lose $400 dollars, I lose $400 dollars. Im in college [so] Im really not too worried about it."

A Wisconsin resident visiting Miami told Fox News, "its going to take a long time for [crypto] to become normal, and once it does, everyones going to be using it."

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Spring break goers on Miami Beach say the 'mystery' of cryptocurrency is the 'future of the financial system' - Fox Business

Ethereum's move to a 100% proof-of-stake model has been delayed, buying crypto mining operations more time until the transition.

On Tuesday, ethereum core developer, Tim Beiko, confirmed on Twitter that the much-anticipated Ethereum Merge will be delayed from June to a "few months after" according to the tweet (via CoinDesk).

Ethereum Merge is the fun name the company uses for its network's transition from proof-of-work (PoW) to proof-of-stake (PoS). The reason this is a big deal is that PoW currently involves high energy costs that power enormous crypto mining operations that run night and day, which have also hogged up all the GPU stock in the last few years.

The two largest cryptocurrencies, bitcoin, and ethereum, both currently employ proof-of-work to manage transactions on their respective blockchains.

The final phase of ethereum 2.0 will be powered by proof-of-stake which uses "validators" for selecting blocks on the ethereum blockchain by "staking" ether. As their ether gets used, much like miners in proof-of-work, they get rewarded for taking part. Basically, they have to buy tokens to win blocks in the proof-of-stake model.

The big attraction for PoS is that ethereum claims it's 99% greener than PoW and easier to scale, which would in theory eliminate the need for massive crypto mining operations that have become a pretty big business, especially in rural areas of the US.

Whether the Merge is a good thing for ethereum, only time will tell since proof-of-stake on a larger scale is actually faster and more secure than the traditional mining method, which would be made obsolete, and objectively better for the environment.

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Ethereum won't ditch GPU cryptocurrency mining until much later in the year - PC Gamer

BitBoy Crypto Founder Ben Armstrong shares key takeaways from the Bitcoin 2022 Conference in Miami and what lies ahead for the crypto world.

- Well, speaking of buzz, lots of buzz coming out of Bitcoin '22 in Miami. To break it all down with us and to look ahead at what's next, I'm joined by Ben Armstrong, BitBoy Crypto founder. Good to have you back, Ben. So Ben, in terms of the attendance this year at this big event and what you got out of the experience, how would you describe it?

BEN ARMSTRONG: Well, the attendance was very high. Supposedly, the Miami Beach Convention Center could hold up to 15,000 people. It certainly didn't seem like it was at capacity at all times, but maybe if you factor in how many people were going through the weekend, there might have been upwards of 15,000 people there. The estimate said as many as 30,000 people were going to be coming down to the conference.

It just kind of, like, doing several of these big conferences-- I'll let you know, a lot of people go down for the city, for the afterparties, and they don't even necessarily go to the actual event itself. But I think it was very upgraded over last year. I go back to two conferences ago, to 2019, Bitcoin 2019. Of course, we had the COVID year of 2020 where there wasn't one. And I can tell you, this conference came miles and miles and miles away.

It is the largest crypto conference we have today. And there's definitely a lot of excitement. There were some big announcements. Some a little lackluster. But definitely an event worth attending if you're into Bitcoin or crypto.

- And what were the biggest announcements that stood out for you?

BEN ARMSTRONG: Yeah, so the biggest announcement-- there were really two. One that came out that there are-- of course, last year, El Salvador was announced it was going to be accepting Bitcoin is legal tender. This year, we have the potential of possibly Honduras, we have the potential of a city off of Portugal, possibly, and then Mexico actually considering. We didn't get that really big boom announcement, like there is a giant country accepting Bitcoin as legal tender at this point, but those were maybe some preemptive announcements of some things to come.

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But the big, big, big thing was that, now, NCR, which is the world's biggest point-of-sale system, they were-- I think Bed Bath & Beyond, Walgreens, McDonald's, Ted's Montana Grill, tons of other companies, that they're actually going to be integrating with the Lightning Network so that using your Cash App and a Lightning wallet, which is like a layer to Bitcoin, you'll be able to spend Bitcoin at several different locations you couldn't before. And it's a different network.

It's not the standard card network, which the retailers lose 3% on all of those sales. It's a much, much lower fee-- less than 1%-- that they would be losing. So I think, to me, like, it was a little lackluster because I think you have to get the retail side, the stores themselves, to really push this narrative that, hey, we can give you a discount if you use this network, or something like that. I think we're still dealing with a motivation problem, because it's a couple extra steps to actually spend your Bitcoin-- or you can actually spend US via the Cash App using the Bitcoin Lightning Network as well.

But it's a few extra steps to get people to do it. And I feel like people are going to still offer card because it's easier.

- And it's interesting because, obviously, when Bitcoin first came about, it was considered the currency. But then it's obviously shifted now, and you see more people using it as a long-term investment. So then how now does this point-of-sale use-- how does that perhaps either hurt or help Bitcoin and crypto's growth overall?

BEN ARMSTRONG: This is a great question, and I don't think there's a great answer to it. You know. So you had Michael Saylor, who came on stage with Cathie Wood. And as he left the stage, he said don't ever, ever, ever sell your Bitcoin. And of course, the crowd goes wild, clapping and all this stuff. And then you have Jack Mallers, who comes up and makes this point-of-sale announcement.

This is basically like, hey, here's a new way for you to spend your Bitcoin, which is the equivalent of selling it, and the crowd goes wild. And there's a lot of hero worship in the world of crypto, and I think people ought to think critically. Once again, the only way that this actually helps is from the retail side to motivate customers or users to use another network so they save money.

You're right, Bitcoin, to me, has become digital gold. It's not something that you want to sell. It's an asset you want to accumulate more of. That's why I also think when you come to countries accepting crypto and-- or Bitcoin as legal tender specifically, like, why would we want a third-world country to accept Bitcoin as legal tender, meaning that the people that live in that country that are already living lives in poverty that they're actually spending and appreciating asset. It doesn't really make sense.

I do think it's time for the Bitcoin maximalists to move away from this argument of "let's have it as a currency and everybody is spending it," and let's accept it for what it is at this point, which is an appreciating asset that you want to gain more over time.

- And I want to talk turning points. I mean, we saw with Bitcoin, some people say, look, I mean, obviously, Bitcoin down today. It's currently under $40,000. Some people are saying it's going to hit $30,000. Cathie Wood, as you mentioned there, she's predicting Bitcoin could hit $1 million by 2030. And then, of course, you have the Ethereum merge that everyone has been waiting for.

If you could just quickly give us your expectations, in terms of the biggest turning points for Bitcoin and Ethereum.

BEN ARMSTRONG: Well, for me, the biggest turning point right now is going to be this ETH merge over the summer. So traditionally, what we see is a Bitcoin four-year cycle based on what we call the Bitcoin halving, where the block rewards are cut in half. Basically, the production of Bitcoin is cut in half every four years. This leads to a price surge for about a year and a half, and then a tremendous price drop. Right now, we're right in the thick of where we should be in the middle of a bear market.

But Bitcoin has held. We haven't seen new lows since last summer. So to me, I think the only chance that we break out of this four-year cycle and that we do see Bitcoin hit all-time highs again-- maybe by the end of this year, beginning of next year-- is for Ethereum to finally take its seat at the top of the market and to lead the market. I ultimately believe Ethereum will pass Bitcoin in market cap. I don't even think it's a question.

It's just a matter of when. So with this ETH merge, with inflation of ETH going from, like, 4.3%, dropping 90%, down to 0.4% per year, I think this is a tremendous moment in crypto history, and this is going to be the moment that is going to determine can ETH take its seat and lead the market or will we still be slaves and dependent on Bitcoin to move the market. And if that's the case, then buckle in, the next year might be kind of rough as we lead up into the 2024 halving, which should occur sometime March or April in 2024.

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Bitcoin 2022: Whats next for the cryptocurrency space - Yahoo Finance

Rain, a cryptocurrency exchange that is licensed by the Central Bank of Bahrain, has introduced zero per cent trading fees as digital currencies gain more acceptance among mainstream investors globally.

The zero per cent trading fees will allow users to see the price of the cryptocurrency they want to trade and know there are no further costs, the company said in a statement on Thursday.

We believe introducing zero per cent commission trading is the fastest way to on-board millions of new customers in the Middle East that are newly interested in the crypto industry, AJ Nelson, co-founder of Rain, said. Rain wants to set the tone for the market.

Cryptocurrencies have become a popular mode of investment over the past two years, partly spurred by increased digital adoption during the pandemic. It has also been driven by bored investors with time on their hands during pandemic movement restrictions and extra money to invest after a series of government stimulus packages.

About 33 per cent of UAE residents have invested in cryptocurrencies, a survey by online market research company Toluna found last week. Residents in the Emirates plan to allocate 26 per cent of their investable assets to cryptocurrency, compared with 20 per cent globally, it said.

Last month, Dubai adopted a law to regulate virtual assets, which is aimed at creating an advanced legal framework to protect investors and provide international standards for virtual asset industry governance that will promote responsible business growth in the emirate

The Virtual Asset Regulatory Authority serves as the single custodial entity mandated to licence and govern the burgeoning cryptocurrency sector in Dubai, including all mainland and free zones, but excluding the Dubai International Financial Centre.

Rain was founded in 2017 by Abdullah Almoaiqel, Mr Nelson, Joseph Dallago and Yehia Badawy. Rain Financials subsidiary, Bahrain-based Rain Management, became the first licensed crypto-asset service provider in the Middle East in 2019 by the Central Bank of Bahrain.

The cryptocurrency exchange is not currently licensed by a financial services regulator in the UAE, although it received in-principle approval for financial services permission from the Abu Dhabi Global Markets Financial Services Regulatory Authority in January.

Once Rain satisfies all approval conditions and receives its permit, the company will be able to list a greater number of virtual asset pairs provided it meets the accepted virtual assets criteria set out by the ADGMs regulatory authority.

Earlier this year, the exchange secured $110 million in Series B funding. The round was co-led by San Francisco-based cryptocurrency-focused investment company Paradigm and Silicon Valley venture capital company Kleiner Perkins. US-based Coinbase Ventures, Global Founders Capital, Middle East Venture Partners, Cadenza Ventures, Jimco and CMT Digital also participated in the round.

The company offers its customers a platform to buy and sell cryptocurrencies, as well as custodian services to hold their assets. It also provides educational opportunities for those interested in learning more about the digital tokens.

The simplified fee structure aims to bring a new generation of investors into the Middle East and customers can feel more comfortable placing their first trade, while they build their confidence in the crypto world, Rain said in the statement.

In 2019, the start-up raised $2.5m from BitMex Ventures and Bahraini cryptocurrency fund Blockwater.

The FinTech also raised $6m in January 2021 in a series A round of funding, led by MEVP, with participation from Coinbase Ventures.

Rain has performed more than $1.9bn worth of transactions to date and hosts more than 185,000 active users.

Updated: April 14, 2022, 1:31 PM

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Middle Eastern cryptocurrency exchange Rain waives trading fees - The National

Toronto April 14, 2022 The Bank of Canada, a G7 central bank, and Multiverse Computing, a developer of quantum computing solutions for the financial industry and other sectors, announced completion of a proof-of-concept project using quantum computing to simulate the adoption of cryptocurrency as a method of payment by non-financial firms.

The quantum simulations were designed to help generate examples that illustrate how similar firms may end up adopting different levels of cryptocurrency use.

We are proud to be a trusted partner of the first G7 central bank to explore modelling of complex networks and cryptocurrencies through the use of quantum computing, said Sam Mugel, CTO at Multiverse Computing. The results of the simulation are very intriguing and insightful as stakeholders consider further research in the domain. Thanks to the algorithm we developed together with our partners at the Bank of Canada, we have been able to model a complex system reliably and accurately given the current state of quantum computing capabilities.

Companies may adopt various forms of payments. So, its important to develop a deep understanding of interactions that can take place in payments networks.

Multiverse Computing conducted its innovative work related to applying quantum computing for modelling complex economic interactions in a research project with the Bank of Canada. The project explored quantum computing technology as a way to simulate complex economic behaviour that is otherwise very difficult to simulate using traditional computational techniques.

By implementing this solution using D-Waves annealing quantum computer, the simulation was able to tackle financial networks as large as 8-10 players, with up to 2^90 possible network configurations. Note that classical computing approaches cannot solve large networks of practical relevance as a 15-player network requires as many resources as there are atoms in the universe.

We wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques, said Maryam Haghighi, Director, Data Science at the Bank of Canada. This collaboration helped us learn more about how quantum computing can provide new insights into economic problems by carrying out complex simulations on quantum hardware.

Motivated by the empirical observations about the cooperative nature of adoption of cryptocurrency payments, this theoretical study found that for some industries, these digital assets would share the payments market with traditional bank transfers and cash-like instruments. The market share for each would depend on how the financial institutions respond to the cryptocurrency adoptions, and on the economic costs associated with such trades.

Multiverse Computing is a leading quantum software company that applies quantum and quantum-inspired solutions to tackle complex problems in finance to deliver value today and enable a more resilient and prosperous economy. The companys expertise in quantum control and computational methods as well as finance means it can secure maximum results from current quantum devices. Its flagship product, Singularity, allows financial professionals to leverage quantum computing with common software tools. The company is targeting additional verticals as well, including mobility, energy, the life sciences and industry 4.0.

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World Quantum Day: Bank of Canada in Quantum Simulation of Cryptocurrency POC with Multiverse - insideHPC - insideHPC

RELATED: Who are the worlds richest billionaires aged under 30?

Changpeng Zhao, founder and chief executive of cryptocurrency trading platform Binance, is the worlds richest crypto billionaire with a net worth of $65 billion, according to Forbes 2022 World Billionaires List.

Mr Zhao, also known as CZ, owns an estimated 70 per cent of the worlds largest cryptocurrency exchange, which this week received in-principle approval from Abu Dhabi Global Market to operate as a broker-dealer in virtual assets in the UAE capital.

Last month, Binance also secured a virtual asset licence to operate in Dubai after the emirate outlined clear regulations to govern emerging technology sectors such as cryptocurrencies in an effort to safeguard investors.

The Forbes list, which used stock prices and exchange rates from March 11 to calculate the personal fortunes of the worlds richest people, features a record 19 billionaires who made their money from cryptocurrency and blockchain technology seven more than in 2021.

Its been a wild 12 months for the world of cryptocurrencies, from the Elon Musk-fuelled ascent of Dogecoin, to Web3 innovations and non-fungible tokens [NFTs], to the wild swings in Bitcoin and other crypto tokens, Forbes said.

Amid all the action, theres also no shortage of money to be made in the $2 trillion crypto economy.

Last November, Bitcoin reached an all-time high of $68,000, then crashed in January to settle just above $35,000. Today, the digital token is trading in the $41,280 range.

Last week, Forbes declared Elon Musk, founder and chief executive of electric car maker Tesla, the worlds richest person, with a net worth of $219bn.

However, the Russia-Ukraine crisis, Covid-19 pandemic and volatile stock markets have taken a toll on the combined wealth of the worlds richest people, which slipped 3 per cent to $12.7 trillion over the past year, from a record $13.1tn in 2021.

In total, there are 2,668 billionaires in the world, down from an all-time high of 2,755 last year.

Meanwhile, Sam Bankman-Fried, co-founder and chief executive of global cryptocurrency exchange FTX, was ranked as the second-wealthiest crypto billionaire with a personal fortune of $24bn, followed by Coinbase co-founder Brian Armstrong with a net worth of $6.6bn.

In March, FTX received a virtual asset licence to set up regulated trading and clearing services in Dubai.

Gary Wang, also a co-founder of FTX who was crowned the worlds richest billionaire aged under 30 by Forbes, ranked fourth with a net worth of $5.9bn, while Ripples Chris Larson rounded out the top five with a fortune of $4.3bn.

Newcomers to the list include Nikil Viswanathan and Joseph Lau, co-founders of Web3 infrastructure company Alchemy, each with a net worth of $2.4bn, and Devin Finzer and Alex Atallah, co-founders of NFT marketplace OpenSea, who are worth $2.2bn, Forbes said.

Francoise Bettencourt Meyers, granddaughter of French pharmacist and LOreal founder Eugene Schueller, is the worlds richest woman, at $74.8 billion.

Updated: April 14, 2022, 9:06 AM

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Who are the worlds richest cryptocurrency billionaires? - The National

By Anna Peel

Dogecoin is the cryptocurrency searched for the most in 23 states, the highest of any cryptocurrency.

Bitcoin has the second-highest number of states searching for it the most out of any other cryptocurrency.

Seven states searched for Shiba Inu the most out of any cryptocurrency

New research has revealed the cryptocurrency that each state wants to invest in the most with Dogecoin taking the top spot.

The research conducted by cryptocurrency experts Coin Insider analyzed Google Trends data to establish the cryptocurrency that each state wants to invest in based on searches.

Source: ValueWalk/Coin Insider

The analysis revealed that Dogecoin had the highest number of states wanting to invest in the cryptocoin with a total of twenty-three states, including Illinois, Florida, Hawaii, and New Jersey. The rise in interest can be partially attributed to the endorsement of Elon Musk who stated in 2021 that Tesla would accept Dogecoin as a form of payment.

Bitcoin was the second most popular with ten states searching to invest in Bitcoin more than any other cryptocurrency, including Connecticut, Alaska, Mississippi, and New Hampshire.

A total of eight states want to invest in Ethereum the most, the third-highest number in the research. States seeking to invest in Ethereum the most include Georgia, Louisiana, Virginia and Ohio.

Shiba Inu debuted nineteen months ago and has grown astronomically, rising more than 14,000,000%. This leads it to be seven US states most searched for cryptocurrency to invest in, with states including California, New York, Texas and Nevada.

Lithium was the most popular cryptocurrency in one state Pennsylvania. Cardano was also the most popular cryptocurrency in only one state Colorado.

Commenting on the findings, a spokesperson for Coin Insider said: The rise in cryptocurrencies has been enormous in recent years, with more and more people looking to invest in them.

This study offers incredible insight into where these investments are coming from across the US, with Dogecoin surpassing Bitcoin as the most popular cryptocurrency on the internet. With more than 6,500 cryptocurrencies available globally, it is fascinating to see currencies that may not be the most valuable are still the most sought after.

The study was conducted by Coin Insider, a leading digital media company that provides news, market analysis and investor insights focused on cryptocurrency.

Originally published at ValueWalk.

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Dogecoin Is Officially the Most Popular Cryptocurrency in America - 24/7 Wall St.

Female manager selling cryptocurrencies through mobile phone app. Stock market, investment and ... [+] cryptocurrencies concept

The other week brought a curious outburst from part of the online cryptocurrency industrythose who spend expansive time promoting their holdings as the only choice in an uncertain world and challenging people who have any other view, even when, as with some Ive seen, the doubtful hold extensive expertise in areas of finance.

Heres how Reuters put it: LBRY Inc, a blockchain publishing company accused by the U.S. Securities and Exchange Commission of selling unregistered securities, tweeted on Wednesday that it is done being nice and that it would engage in psychological warfare as it fights the lawsuit.

Thats may be a bit too harsh of a recounting. The people at LBRY do seem convinced that the SEC has been unfair and unreasonably punitive.

And the psychological warfare was supposedly a joke about meeting the SEC sweaty and after eating garlic, although if youre asking your lawyers if you could do it and they said no, was it as much of a joke?

In any case, trying to build a PR campaign to the cheers of those who follow you is a poor way to approach regulators. As journalist and CPA Francine McKenna put it, Swagger is not a strategy. As she notes, it hasnt proven itself for multiple companies to date.

Many people in the crypto industry dont seem to grasp how regulation works, other than seeing it as a blockade to what they want, run by people who are slow to embrace something new out of spite.

They certainly are slow about things because of the nature of regulations. The intent is to ensure predictable behavior that meets a standard in order to achieve a specific result. For the SEC, there are two primary goals. One is to ensure the long-term interests of Main Street investors, otherwise known as retail or consumer investors. These are the people who dont have massive assets, expertise help, and other resources to keep their retirement funds safe.

(And even the supposedly well-prepared can fall flat on their faces. Although not crypto, think of the investment disaster that was Theranos.)

The other main goal (there is a third that addresses enhancing the agencys analytic abilities, but that can sit to the side for now) is to [r]ecognize significant developments and trends in our evolving capital markets and adjust our efforts to ensure we are effectively allocating our resources. The SEC must follow developments in technology to understand how regulation of markets has to change.

On the other side, there are two ways the enthusiasts tend to look at cryptocurrencies. One is as an alternative decentralized financial system. They assume that if things go wrong in a big way with governments and the worlds economya reasonable worry given the Great Recession in 2008cryptocurrencies will allow people to continue buying and selling.

This view isnt realistic because it doesnt consider how interconnected and mutual all finance is. If the worlds ability to support business transactions on all levels catered, the vast interconnected majority that uses more traditional forms of finance would cause so much strife and disruption that decentralized finance wouldnt stand a chance of working, given its reliance on communications systems that are part of the bigger global infrastructure.

Additionally, its not like decentralized finance was never tried before with results that should also cause concern. That was the way of much of the world for hundreds of years. Individuals, banks, and businesses would create their own currencies, causing so many problems that the current regulated reality was the solution. No, they didnt have then the communications and technical advantages available now, but the same human issues of trust, of which currency would stay afloat or not, remain. Relying on cryptocurrency as a form of ordinary transaction means wild volatility that could cause periods where no one could know what the value of their holdings would be from one day, or moment, to the next. Again, in different forms, thats already historical reality.

The other view crypto supporters often take is that this is a true form of value holding and a terrific investment. The first part has to confront the volatility. The latter is where the SEC steps in, and given some things that have happened in cryptocurrencies, the agency cant assume there are companies that could never go awry.

People in one company or another are upset. Understandable, as theyre making bets on the future, putting in significant work, and then finding themselves tripped up by something that, frankly, should have been obvious in risk management planning. It wouldnt be all that surprising if lawyers and financial experts have been trying to tell them.

Getting angry isnt the answer, nor are the expectations of impatience. No big systems change quickly, due in part to vested interests of the people running them, sure, but more importantly, huge mechanisms cant change overnight. It takes years and patience because the new version has to learn to cover all the bases the old one did.

This is the very stuff of Edmund Burkes version of conservatism. Avid rush to change had best recognize the potential that an unsuccessful transition to new form of order might lose the old, never realize the new, and leave chaos in its wake.

Really changing the world in fundamental ways is a process. If you cant recognize that a big shift requires intent and pushing, yes, but also the reality of a process, maybe you shouldnt be leading the charge because you havent yet achieved the perspective of an adult.

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Many Cryptocurrency Players Need To Grow Up - Forbes