Right this moment in crypto, musical artist Drake mentions BTC in new tune, Robinhood’s plan to tokenize shares on its new chain may divert liquidity from NYSE and different main exchanges, and a Coinbase govt speculates over the slight risk that the current motion of $8.6 billion price of Bitcoin was the results of a hack.
Drake drops Bitcoin reference in new tune
Musical artist Drake talked about Bitcoin (BTC) in his newest tune “What Did I Miss?” The tune was launched on Saturday and is already drawing consideration from Bitcoiners on social media.
Drake beforehand guess $1 million in BTC on the end result of the 2022 Tremendous Bowl; the championship sport of the American contact sport. The particular verse from the tune goes:
“I have a look at this shit like a BTC, could possibly be down this week, then I am up subsequent week. I do not give a fuck if you happen to love me. I do not give a fuck if you happen to like me. Askin’ me ‘How did it really feel?’ Cannot say it did not shock me.”
Popular culture references to Bitcoin point out that the digital asset is steadily shifting from a distinct segment phenomenon into the mainstream.
Robinhood’s 24/7 tokenization push threatens NYSE revenues: Galaxy Digital
Robinhood’s plan to tokenize shares on its new Ethereum-compatible blockchain may shift buying and selling quantity away from conventional exchanges just like the NYSE, undermining their core revenues from buying and selling charges and market information, in accordance with Galaxy Digital.
On the EthCC convention this week, Robinhood CEO Vlad Tenev detailed plans for “Robinhood Chain,” an Ethereum-compatible layer-2 on Arbitrum Orbit. The blockchain will let customers commerce tokenized derivatives of shares immediately onchain, transferring asset buying and selling outdoors conventional change hours.
In a Friday report, Galaxy Digital stated that Robinhood’s tokenization transfer removes belongings from conventional market channels and brings them onchain, immediately difficult the concentrated liquidity and exercise that give main TradFi exchanges just like the NYSE their edge.
“This immediately challenges the deep focus of liquidity and exercise that provides main TradFi exchanges (e.g., NYSE) their aggressive benefit,” Galaxy Digital wrote.
‘Small risk’ $8.6B Bitcoin switch was a hack: Coinbase exec
Conor Grogan, Coinbase’s head of product, says there’s a slight likelihood the $8.6 billion price of Bitcoin moved on Thursday — from eight wallets that had held the Bitcoin for over 14 years — was attributable to a hack, and if that’s the case, it could possibly be the biggest theft ever.
“If true (once more, I’m speculating on straws right here), this might be by far the biggest heist in human historical past,” Grogan stated in an X submit on Friday, after elevating the slim likelihood that the $8.6 billion price of Bitcoin moved from eight separate wallets was the work of dangerous actors.
“There’s a small risk that the $8B in BTC that not too long ago wakened had been hacked or compromised personal keys,” Grogan stated, stating a suspicious Bitcoin Money transaction made earlier than the numerous transfers on Thursday involving 10,000 Bitcoin at a time.
