As we speak in crypto, musical artist Drake mentions BTC in new track, Robinhood’s plan to tokenize shares on its new chain might divert liquidity from NYSE and different main exchanges, and a Coinbase government speculates over the slight risk that the latest motion of $8.6 billion value of Bitcoin was the results of a hack.
Drake drops Bitcoin reference in new track
Musical artist Drake talked about Bitcoin (BTC) in his newest track “What Did I Miss?” The track was launched on Saturday and is already drawing consideration from Bitcoiners on social media.
Drake beforehand guess $1 million in BTC on the result of the 2022 Tremendous Bowl; the championship recreation of the American contact sport. The precise verse from the track goes:
“I have a look at this shit like a BTC, may very well be down this week, then I am up subsequent week. I do not give a fuck in the event you love me. I do not give a fuck in the event you 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 step by step 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 might 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 keeping 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 straight onchain, shifting asset buying and selling outdoors conventional alternate hours.
In a Friday report, Galaxy Digital stated that Robinhood’s tokenization transfer removes belongings from conventional market channels and brings them onchain, straight difficult the concentrated liquidity and exercise that give main TradFi exchanges just like the NYSE their edge.
“This straight 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 probability the $8.6 billion value of Bitcoin moved on Thursday — from eight wallets that had held the Bitcoin for over 14 years — was attributable to a hack, and in that case, it may very well be the biggest theft ever.
“If true (once more, I’m speculating on straws right here), this could be by far the biggest heist in human historical past,” Grogan stated in an X put up on Friday, after elevating the slim probability that the $8.6 billion value of Bitcoin moved from eight separate wallets was the work of unhealthy actors.
“There’s a small risk that the $8B in BTC that lately awakened have been hacked or compromised personal keys,” Grogan stated, mentioning a suspicious Bitcoin Money transaction made earlier than the numerous transfers on Thursday involving 10,000 Bitcoin at a time.
