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This Week in Crypto – Coinbase mistakenly transfers woman $10.5 million

@EQUITYMATES|1 September, 2022

While we don’t have a strong view on crypto here at Equity Mates, we are fascinated to watch the story unfold. Read on for some of the most interesting Tweets, articles and memes from the past week below. 


Prices of Top Cryptocurrencies


Tweets & Charts of the week


Articles & Videos

Less than a month after debuting its digital wallet integration, Meta will allow select creators and NFT collectors to post their digital property on both Facebook and Instagram. Meta first revealed its plans to expand into the NFT space in May 2022. The technology company said that it will use public blockchain data to verify which collectables owners and creators hold. 

Like lots of us, this 47-year-old former primary schoolteacher got into cryptocurrencies in a big way during the coronavirus pandemic, ploughing his life savings into a portfolio that was ballooning in value and that he believed would enable him to get on the property ladder. But it didn’t turn out as planned.

A Melbourne woman was accidentally transferred $10.5 million instead of a $100 return. She used the money to buy a mansion. Now she has to pay it back…

Trading volume on the most popular NFT marketplace, OpenSea, is down 99% in just under four months. On May 1, OpenSea processed a record $2.7 billion in NFT transactions, but on Sunday the marketplace recorded just $9.34 million worth.

Ethereum, the second largest cryptocurrency, will complete a plan to lower its carbon emissions by more than 99% in the next month, the foundation that controls the platform has confirmed. This article provides an update on ‘the merge’.

$US2 trillion ($2.9 trillion) has been wiped off the value of the global crypto market, and many bitcoin dabblers have been badly burnt. But PayPal remains deeply committed to crypto. The payment giant intends to improve consumer education, is considering how to allow ‘stablecoins’ to be used for payments on its network, and sees the real play in the divisive space as improving financial infrastructure.

The China Energy Administration (CEA) is set to investigate the use of blockchain-based power trading platforms to promote energy trade between self-contained power generation units and state and national networks.

Levan Kvirkvelia, the founder of Jigger, an anti-bot protection software, has released a report asserting that 40% of the player base of web3 games are bots. The study found evidence of 20,000 bots across over 60 web3 games.


In Focus: Vitalik Buterin

He’s the Russian-Canadian co-creator of Ethereum and is a regular feature in our meme section and articles in this email. But who actually is Vitalik Buterin? This article explains how he came to be the Ethereum co-founder and what he wants to achieve.

[Read the article here]

This week Trace & Craig are joined by co-host Dave Haslop from the Australian Crypto Con. They discuss the World First Token Mapping exercise which will bring more regulation to the Aussie crypto scene. Talk about the BendDao NFT Insolvency crisis which might flood the market with some cheap Board apes. AND Dave offers up some free tickets to the Gold Coast Crypto Con event next month! 

[Listen to the episode here]


Some of our favourite content


This is an excerpt from our Crypto Newsletter email. Once a week, for those investing in crypto or interested in learning more about this corner of the market, we’re featuring some of the most interesting content we’ve come across in this weekly email. No spam, we guarantee.

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The world of cryptocurrencies is a fascinating part of the investing universe these days. Questions abound about the future of the currencies themselves – Bitcoin, Ethereum etc. – and the use cases of the underlying blockchain technology. For those investing in crypto or interested in learning more about this corner of the market, we’re featuring some of the most interesting content we’ve come across in this weekly email.