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☕️The Morning Cup: ≈ $570M worth of Binance’s BNB hacked, Fidelity to launch Ethereum Index Fund, Swiss McDonald’s accepts crypto
Good morning, good day, and good evening. Welcome back to The Morning Cup. It’s your weekly recap of the latest in crypto news and your start to the week, no matter where you are. Don’t worry, we’ve selected just what you need to stay up-to-date, so you won’t spend time pouring through the news you don’t need, only the news you care about.
So what happened this week?
BTC and ETH trade flat
Bitcoin (BTC) and Ethereum (ETH) are trading relatively flat amid the chopping trading in the U.S. stock market over the week. BTC is now trading at $19,415 while ETH is now at $1,318 at the time of writing. As for the top 24-hour gainers on Poloniex, they are FUND/USDT, JUT/USDT, XRPBULL/USDT, LINKBULL/USDT and SUN/ USDT.
Nearly $570 million worth of Binance’s BNB hacked
Binance confirmed last Friday that two million of the company’s Binance Coin (BNB) were withdrawn on a cross-chain bridge between Beacon Chain (BEP2) and BNB Smart Chain (BEP20 or BSC). The 200 million sum is worth a total of $562 million at the time of writing. Binance temporarily suspended the BNB Smart Chain network due to “irregular activity”. Binance CEO Changpeng Zhao confirmed the hack, but he had initially tweeted that an estimated $100 million worth of crypto was stolen.
CZ 🔶 Binance on Twitter: "The current impact estimate is around $100m USD equvilent, about a quarter of the last BNB burn. / Twitter"
The current impact estimate is around $100m USD equvilent, about a quarter of the last BNB burn.
Fidelity to launch Ethereum Index Fund for investors with minimum $50K
Fidelity has launched a new crypto-related product, dubbed Fidelity Ethereum Index Fund, to offer customers access to Ether (ETH), the second largest cryptocurrency by market cap, according to a filing form with the U.S. Securities and Exchange Commission (SEC) made public last Tuesday. So far, the fund has already raised $5 million since the first sale began in September and only investors with a minimum investment of $50,000 are authorized to access the fund. As for the nature of the product, it’s unlike an ETF (Exchange-Traded Fund), rather being structured as a “traditional limited partnership” instead which must have at least one general partner (GP) and limited partner (LP) each. Fidelity is one of the largest asset managers in the world and it launched a subsidiary, Fidelity Digital Assets, in 2018 to manage and explore the digital asset management business. The Fidelity Ethereum Index Fund is the second crypto-related product launched by Fidelity Digital Assets following the 2020 launch of the Wise Origin Bitcoin Index Fund I.
McDonald’s accepts crypto in Swiss town, Mastercard launches crypto fraud-proof solution
A McDonald’s in Lugano, a city in Switzerland, started accepting BTC and Tether (USDT) payments last week. Bitcoin Magazine uploaded a one-minute video last Tuesday to firstly show a customer ordering food on McDonald’s digital kiosk, and then the person settled the payment at the regular register with a mobile. From the video, the payment terminal machine was printed with both BTC and USDT logos, which indicated that the shop accepted the cryptocurrencies as an alternative payment method. Meanwhile, credit card service giant Mastercard Inc. launched a new technology solution, named Crypto Secure, to help banks identify crypto exchanges prone to fraud.
Bitcoin Magazine on Twitter: "In partnership with Go Crypto, Plan ₿ Foundation is enabling #bitcoin payments for the city of Lugano, Switzerland, including McDonald's.@Fall_Of_Fiat covers the news:https://t.co/Aox4trZk8V / Twitter"
In partnership with Go Crypto, Plan ₿ Foundation is enabling #bitcoin payments for the city of Lugano, Switzerland, including McDonald's.@Fall_Of_Fiat covers the news:https://t.co/Aox4trZk8V
New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
Futures
Polopedia
You’ve heard a lot about fan tokens by now, so we thought it was a good time to demystify one of the most popular ones, SANTOS! Plus, a brief introduction to SDKs🧐
Crypto Glossary
This week, we are going to explain the term, BUIDL. So, what’s it? BUIDL is the derivative term of HODL, but it’s opposite to HODL since BUIDL is a term to call on crypto enthusiasts to build and contribute to the blockchain and cryptocurrency ecosystem instead of passively holding the cryptocurreinces regardless of the bullish or bearish markets and these people are dubbed as “buidlers”.
What’s happening here at Poloniex?
This is what Poloniex’s week looked like
Highlights for the week
This week was a bit lax, but check below for current campaigns that you can get involved in, and some great moments from this past week on our Twitter!
We also want to take a moment to thank everyone who came out to meet with us at the Kryptonitez in Penang Malaysia! This event was in collaboration with Digital Penang, YGG SEA, Cryptobilis + others.
Campaigns
Our recap of ongoing campaigns that YOU can get involved in!
Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT (10/1–12/31/22)
Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT
SANTOS Listing Giveaway: 2,000 SANTOS and 10,000 USDT up for Grabs! (9/27–10/11)
SANTOS Listing Giveaway: 2,000 SANTOS and 10,000 USDT up for Grabs!
Poloniex Launches Zero-Fee USDD Trading (ONGOING)
Poloniex Launches Zero-Fee USDD Trading
Poloniex Feedback Bounty Program (ONGOING)
Poloniex Exchange on Twitter: "We want to give a big shout-out to our users for making Poloniex better and remind that Feedback Bounty program is in full swing!🎁 Win from $50 to $1000 USDT by leaving your feedback on how we can improve your experience and our service.Participate👉https://t.co/7Z85cMx3BE pic.twitter.com/dh47zMH2Zy / Twitter"
We want to give a big shout-out to our users for making Poloniex better and remind that Feedback Bounty program is in full swing!🎁 Win from $50 to $1000 USDT by leaving your feedback on how we can improve your experience and our service.Participate👉https://t.co/7Z85cMx3BE pic.twitter.com/dh47zMH2Zy
The community megaphone📢
Highlights from the community
Poloniex Exchange on Twitter: "Thank you very much for your kind words and support! We are always focused on providing the best experience possible for our customers.😆 https://t.co/weZxZMv6n4 / Twitter"
Thank you very much for your kind words and support! We are always focused on providing the best experience possible for our customers.😆 https://t.co/weZxZMv6n4
Poloniex Exchange on Twitter: "Thank you very much for your kind words and support! We are always focused on providing the best experience possible for our customers.😆 https://t.co/weZxZMv6n4 / Twitter"
Thank you very much for your kind words and support! We are always focused on providing the best experience possible for our customers.😆 https://t.co/weZxZMv6n4
Poloniex Exchange on Twitter: "How many exchanges do you use? / Twitter"
How many exchanges do you use?
Poloniex Exchange on Twitter: "How often do you check your wallet? #GoWithPoloniex pic.twitter.com/QRZUwA0Wup / Twitter"
How often do you check your wallet? #GoWithPoloniex pic.twitter.com/QRZUwA0Wup
Poloniex Exchange on Twitter: "If you could create a token, how would it look like? / Twitter"
If you could create a token, how would it look like?
And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel-
Is there anything you’d want to see us cover in our newsletter? Make sure to comment on this Medium article! Just want to show your appreciation? Smash that clap button and give a round of applause👏
Thanks for spending some time with us as we went over what’s going on. And wherever you are, from the team here at Poloniex, good morning, good day, and good evening!
☕️The Morning Cup: ≈$570M worth of Binance’s BNB hacked, Fidelity to launch Ethereum Index Fund was originally published in The Poloniex blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.