By Casper Sorensen, Vice President, Customer Experience
The following is the latest update in our series of blog posts describing our commitment to continuously improving our customer experience.
In past blog posts we highlighted our ongoing journey to create more value for customers with our support experience. In 2021, we invested in providing improved support experiences by increasing our staffing, accelerating our response times, as well as adding dozens of educational resources to our help pages so customers can get the most accurate information on our products and services.
In our pursuit to provide customers with the most trusted customer service experience in crypto we are excited to highlight new live support options for our customers.
In Q4 we began offering localized phone support for retail customers in the US, UK, Ireland, Germany, and Japan. Whether the question is simple or complex, our trained professionals are ready to help. These new phone support options expand on the Coinbase One support which launched in October 2021 and is available to customers in the United States 24/7 from a dedicated team, and the fastest answer times in crypto.
In December 2021, we began providing US retail customers with live messaging via our new Help Center platform. Live messaging offers customers the flexibility to connect with us when the time is right and continue the conversation seamlessly if they have to step away. Our team of customer service experts are available via messaging 24/7 with the speed our customers expect.
The journey continues in 2022, we will provide more localized phone and messaging options for our customers globally as well as bring further enhancements to our in-app support experience for iOS and Android.
We remain deeply focused on providing our customers with intuitive support technology and appreciate patience as we continue to grow. We look forward to continuous enhancements so please stay tuned to this blog for updates on the status of our journey.
Coinbase Expands Live Customer Support was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
cryptocurrency exchange
Cryptocurrency Exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world. Read this Term led by Sam Bankman-Fried, announced a launch of a new venture capital business unit called FTX Ventures. According to the Wall Street Journal media outlets, the exchange has pumped $2 billion fund into the new capital unit to focus on investing in crypto-industry startups. The allocation makes the FTX Ventures’ fund as one of the largest venture capitals in the crypto industry. FTX exchange disclosed that the $2 billion venture fund will be led by Amy Wu, a former General Partner at $10 billion venture capital firm Lightspeed.
As per FTX exchange, the FTX Ventures will majorly focus on
blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term and cryptocurrency investments. Wu talked about the development and stated that the fund will make strategic concentrated bets into companies in the crypto market, from Latin America, Africa, and beyond. She said that FTX Ventures is especially excited about consumer and social web3 as well as Web3 gaming applications. She further mentioned that the venture firm also targets layer-1 and layer-2 blockchain platforms, blockchain infrastructure, cross-chain protocols, crypto-fueled and NFT-powered video games, and wallet payment applications.
“It’s not necessarily tied to the strategy of FTX. The objective is more to accelerate the adoption of blockchain technology. We want to be known for the value add that we bring, leveraging the resources, the expertise and the global network of FTX,” Wu elaborated.
Why Crypto Startups Are Attracting Venture Capital Money
The development by FTX cryptocurrency exchange to have launched its FTX Ventures’ fund comes at a time when the crypto and blockchain space sees a lot of interest from venture capital companies. Such interests translated into a significant amount of investments made in the space during the year 2021. Startups in the crypto and blockchain sector have become winners in the category of record-breaking fundraising. Venture capitalists bet big in cryptocurrency in the previous year, investing more cash than ever into emerging companies in the sector. Startups in the blockchain and crypto space were powered by a record $33 billion in ventral capital funding last year. That can be compared with the year 2020, which saw venture funding of about $3.1 billion.
In 2021, about 43% of crypto funding went into firms involved in lending, investing, exchange services, and trading of cryptocurrencies. Meanwhile, 17% was channeled towards startups in Metaverse (a network of 3D virtual worlds), Web3 (a decentralized online ecosystem based on the blockchain), DAOs (decentralized autonomous organizations), and FTs (non-fungible tokens). Other categories that also attracted significant venture capital interest include decentralized finance, infrastructure, and custody.
Crypto startups have become so profitable that they have begun attracting growth-stage capital. In the previous year, major crypto funds such as Hivemind, a16z, and Paradigm managed to raise billions of dollars to bet in crypto and blockchain startups.
On January 14, FTX, a popular Bahamian-based
cryptocurrency exchange
Cryptocurrency Exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world. Read this Term led by Sam Bankman-Fried, announced a launch of a new venture capital business unit called FTX Ventures. According to the Wall Street Journal media outlets, the exchange has pumped $2 billion fund into the new capital unit to focus on investing in crypto-industry startups. The allocation makes the FTX Ventures’ fund as one of the largest venture capitals in the crypto industry. FTX exchange disclosed that the $2 billion venture fund will be led by Amy Wu, a former General Partner at $10 billion venture capital firm Lightspeed.
As per FTX exchange, the FTX Ventures will majorly focus on
blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term and cryptocurrency investments. Wu talked about the development and stated that the fund will make strategic concentrated bets into companies in the crypto market, from Latin America, Africa, and beyond. She said that FTX Ventures is especially excited about consumer and social web3 as well as Web3 gaming applications. She further mentioned that the venture firm also targets layer-1 and layer-2 blockchain platforms, blockchain infrastructure, cross-chain protocols, crypto-fueled and NFT-powered video games, and wallet payment applications.
“It’s not necessarily tied to the strategy of FTX. The objective is more to accelerate the adoption of blockchain technology. We want to be known for the value add that we bring, leveraging the resources, the expertise and the global network of FTX,” Wu elaborated.
Why Crypto Startups Are Attracting Venture Capital Money
The development by FTX cryptocurrency exchange to have launched its FTX Ventures’ fund comes at a time when the crypto and blockchain space sees a lot of interest from venture capital companies. Such interests translated into a significant amount of investments made in the space during the year 2021. Startups in the crypto and blockchain sector have become winners in the category of record-breaking fundraising. Venture capitalists bet big in cryptocurrency in the previous year, investing more cash than ever into emerging companies in the sector. Startups in the blockchain and crypto space were powered by a record $33 billion in ventral capital funding last year. That can be compared with the year 2020, which saw venture funding of about $3.1 billion.
In 2021, about 43% of crypto funding went into firms involved in lending, investing, exchange services, and trading of cryptocurrencies. Meanwhile, 17% was channeled towards startups in Metaverse (a network of 3D virtual worlds), Web3 (a decentralized online ecosystem based on the blockchain), DAOs (decentralized autonomous organizations), and FTs (non-fungible tokens). Other categories that also attracted significant venture capital interest include decentralized finance, infrastructure, and custody.
Crypto startups have become so profitable that they have begun attracting growth-stage capital. In the previous year, major crypto funds such as Hivemind, a16z, and Paradigm managed to raise billions of dollars to bet in crypto and blockchain startups.
Coinbase Voices is a collection of employee stories that highlight the expertise of our Coinbase team and share their journeys to crypto. In this post, Carolina Verdelho, Senior Recruiting Manager, discusses her experience as an international recruiter and how she’s using it to help shape the future of Coinbase.
Tell us about your journey to becoming a Sr. Recruiting Manager. What does your job entail?
I’ve been in Recruiting for more than 15 years now, and have always worked with tech companies. I started my career in Brazil, working in traditional tech like Dell and Oracle, hiring people across all of Latin America in technical, sales and business positions.
My first language is Portuguese, but because I had exposure to other countries from the start, I also learned to speak Spanish and English. I didn’t expect to get into Recruiting at first — in fact, it was my last choice of careers. Now, don’t even think about taking me away from it! It’s what I love.
What made you want to work at Coinbase?
I had worked for almost nine years at Facebook when I decided I needed something new. One day, I was talking with a friend and shared that I wanted to do something different, but didn’t know what that was. He pointed out that when I joined Dell, the company was going to Retail, and when I joined Oracle, it was launching software as a service. When I joined Facebook, no one knew what social media would turn out to be. I joined at a pivotal time in those companies’ journeys. He said, “I think you should do that again.” He works for a blockchain company and suggested that I try the crypto environment. I wasn’t sure, but I started doing some homework and changed my status to Open on LinkedIn. To my surprise, someone from Coinbase reached out to me, along with five other crypto companies. I thought, maybe my friend is right — maybe it is for me. From there, I started talking to people at Coinbase and learning more about what the company had to offer.
Candidates often ask me during interviews: Why did you decide to leave Facebook and join Coinbase? I find myself giving the same answer that I gave when I joined Facebook nine years ago. At that time, it was a company of 4,000 global employees. I remember the VP of Engineering asked me why I wanted to join, and what I thought the company would be in five years. I told her, “I don’t know what this company is going to be in the next five years — and that’s exactly why I want to join. I want to help build it.” It’s the same for Coinbase — I don’t know where we’ll be in five years, but I want to help us get there.
What project are you working on over the next 60 days?
My role has changed quite a bit since I joined Coinbase in May of this year. I wear three different hats: I manage a Recruiting team hiring engineering managers in the United States; I’m helping to stand up recruiting efforts in Latin America, including Brazil and others; and, I’m doing the same for EMEA, in the UK, Ireland, Israel and more.
Internationally, we are starting everything from scratch — hiring recruiters, finding agencies who will help us, and establishing a system for how to hire in each country. We’re in hyper-growth mode, and it’s an exciting time to be here — especially on the Recruiting team.
What’s it like working for a remote-first company? What advice would you give to someone considering it?
I was at Facebook when the pandemic hit and everyone went remote, and was later offered the opportunity to work from home full-time. When I was looking to join another company, that was one of the mandatory requirements for me.
Remote work allows me to balance managing a family — a husband, kids and a dog — while also working and being as available as I can be. It doesn’t make sense for me to commute 30–40 minutes in the car when I could be doing something productive, like supporting my team or finding a solution to a problem. Working remotely is the best use of my time.
I also love that we have a lot of tools that help us interact with each other. We use Slack and Google Meet to connect, so I don’t miss out on meeting people. I think I know people better now in this virtual environment than I did face-to-face. I get to know more about them and really talk to them instead of just seeing each other in passing.
The one piece of advice I would give to people is to set boundaries. I make sure I have a dedicated workspace where I can be 100% focused on what I’m doing. When I’m there, my brain recognizes that I’m working. Then, when I’m done and it’s time to be with my family, I can close the door and detach from work.
Finally, just because I can be at the computer at any time doesn’t mean I’m available at any time. If you don’t set boundaries upfront, things will be difficult. Use your ‘me’ time to be with your family, take care of yourself, exercise, read a book, go for a walk — get fresh air. It’s important to set aside time in your day to recharge, then hit the ground running when it’s time to work.
What’s it like onboarding remotely?
I really had a hard time the first two days at Coinbase — it was difficult for me to understand what was going on. I told my husband, “What have I done?” He reminded me that I was at a company for nine years and things would be different now. In the days following, people were very open to supporting me, explaining things, and helping me understand why we do things the way we do here.
I think onboarding remotely is a bit of a challenge because you’re essentially opening a different computer in the same place you were working the day before, for a different company. After a few days, I started to catch on — I think giving time to acclimate to the culture and providing access to resources makes a huge difference. I had an amazing buddy who helped me onboard and was always available and checking on me. That was a total game-changer.
What do you value most about Coinbase’s culture? What do you think sets it apart?
I took a leadership course a few years back, where the teacher said that we should hire people not only by their skills or experience, but by their values, and that the values of the person should match the values of the company. Before I interviewed with Coinbase, I read the values and asked myself if I could work and operate following them. The answer is a huge yes.
There’s a cultural value here that’s very important to me: Act Like an Owner. It might be because I’m driving a lot of things for international expansion, but I strongly believe that I shouldn’t expect or wait around for others to take care of something for me. I should own it and ensure its successful completion.
I think what sets Coinbase apart for me is the winning combination of a solid business foundation, a very strong leadership team, and the excitement of hyper-growth. You don’t find this often. Being able to join this company and put your fingerprint on this growth and say, “Hey, I was the one who did this, who moved this needle or helped jumpstart that initiative,” that’s such a rare and exciting opportunity. Coinbase also gives people the responsibility and accountability to push the company forward — everyone feels like they’re a part of something bigger than themselves, and that’s something that I love.
Tell us something about you that we wouldn’t know from your LinkedIn profile.
Something not many people know is that my first job was working at the video rental store, Blockbuster. I was watching a documentary about the company a few weeks ago and thinking back on all that I learned in that experience: How to listen to people, how to approach people that I don’t know, how to offer my help and manage expectations. I learned a lot from that experience, and I’m very thankful.
I can also say that I learned a lot from my recruiting experience there. I walked away thinking, how can I do better for people? How can I be respectful of their time and feelings? Maybe being a part of that process helped shape the Recruiting professional I am today.
One of the fastest-growing crypto exchanges in Australia, BTC Markets recently announced a partnership with Ajla Tomljanovic, a prominent tennis player in the country. According to the latest female tennis player rankings, Ajla currently stands at 45th position worldwide. In Australia, Ajla holds the second position.
BTC Markets is the only female-led digital exchange in Australia. Due to the rising interest of retail and institutional Australian clients in digital currencies, BTC Markets experienced a strong surge in demand for its crypto trading products during 2021.
“We’re excited to announce our sponsorship of rising tennis star and 2021 Wimbledon Quarter-Finalist, Ajla Tomljanović. Crypto moves fast on our exchange, just like Ajla on the court, & she encapsulates the promise and potential of Australia,” BTC Markets highlighted in a recent announcement.
In addition, the tennis star expressed her happiness on the latest collaboration and mentioned that the clients of BTC Markets will have an opportunity to meet her in person. “I’m really excited to be partnering with BTC Markets, Australia’s largest crypto exchange. To celebrate, we’re giving away some prizes including the chance to meet me in person,” Ajla said.
Crypto in Australia
Crypto adoption in Australia is on the rise. In November last year, Perth Heat, one of the most successful baseball teams in Australia, announced that the club has decided to pay its players in Bitcoin. Furthermore, Perth Heat is holding BTC on its balance sheet. The Commonwealth Bank of Australia is planning to expand its presence in the global crypto market.
“We are so proud to support the next wave of Australian talent with Ajla,” said the Chief Executive of BTC Markets, Caroline Bowler. “Cryptocurrency on BTC Markets is fast-moving, just like Ajla on the tennis court. We know our clients will be proud to cheer her on this summer.”
One of the fastest-growing crypto exchanges in Australia, BTC Markets recently announced a partnership with Ajla Tomljanovic, a prominent tennis player in the country. According to the latest female tennis player rankings, Ajla currently stands at 45th position worldwide. In Australia, Ajla holds the second position.
BTC Markets is the only female-led digital exchange in Australia. Due to the rising interest of retail and institutional Australian clients in digital currencies, BTC Markets experienced a strong surge in demand for its crypto trading products during 2021.
“We’re excited to announce our sponsorship of rising tennis star and 2021 Wimbledon Quarter-Finalist, Ajla Tomljanović. Crypto moves fast on our exchange, just like Ajla on the court, & she encapsulates the promise and potential of Australia,” BTC Markets highlighted in a recent announcement.
In addition, the tennis star expressed her happiness on the latest collaboration and mentioned that the clients of BTC Markets will have an opportunity to meet her in person. “I’m really excited to be partnering with BTC Markets, Australia’s largest crypto exchange. To celebrate, we’re giving away some prizes including the chance to meet me in person,” Ajla said.
Crypto in Australia
Crypto adoption in Australia is on the rise. In November last year, Perth Heat, one of the most successful baseball teams in Australia, announced that the club has decided to pay its players in Bitcoin. Furthermore, Perth Heat is holding BTC on its balance sheet. The Commonwealth Bank of Australia is planning to expand its presence in the global crypto market.
“We are so proud to support the next wave of Australian talent with Ajla,” said the Chief Executive of BTC Markets, Caroline Bowler. “Cryptocurrency on BTC Markets is fast-moving, just like Ajla on the tennis court. We know our clients will be proud to cheer her on this summer.”
Fees.wtf is a simple service that shows Ether (ETH) users their lifetime spend on Ethereum blockchain transactions by measuring gas. You plug in your wallet address on their website and they tell me how much gas you spent.
The project released their token, WTF, in an airdrop Friday at midnight. Essentially, users would be able to claim WTF tokens as well as a “Rekt” NFT for 0.01 ETH. The Rekt NFT grants lifetime access to the pro version of fees.wtf.
According to their Discord announcement, the initial launch would offer 100 million of WTF and the “circulating supply will be the main attraction in the tokenomics.” However, it didn’t quite go to plan.
Following a series of frantic trading behavior between bots in the opening hours of the airdrop, one bot ran off with a reported 58 ETH, or $180,000. On Etherscan, 58 ETH was drained from the wrapped ETH (WETH) to the WTF liquidity pool.
Social media channels were quick to respond because many airdrop participants lamented losing thousands of dollars in ETH. The WTF team chimed in two hours after the airdrop to calm their ranks:
“Immediately on launch there was only a tiny bit of liquidity and there were ape bots that were chucking in 100s of ETH into a pool with an ETH or two of liquidity. They also had high slippage and ended up being sandwiched by the other bots which essentially drained all their ETH.”
Basically, within five minutes of the token launch, poor liquidity pool management from the WTF devs left the liquidity pool exposed. As there was low liquidity, bots were able to manipulate the price of WTF to then sell for WETH.
The bots would battle it out till one winner would take home the pot. In effect, the bot stole from users who provided liquidity to the pool, trying to claim their WTF tokens and Rekt NFT. The victor managed to send an “ultra-fast transaction at 3,000 Gwei”, making a 6x return on their initial investment.
The WTF team sent out another Discord update two hours after the airdrop, stating that “The core contracts are all fine, this was a war on Uniswap.” The team added, “We hope no one was affected by it.” However, as has become a common occurrence in airdrops of late, lots of users lost a lot of money.
The price graph of the token since launch paints a thousand words. The initial spike shows the bot activity, swiftly followed by a 10x loss in value.
The official WTF Discord group is brimming with users sharing stories of losing money. Some are “shaking” with rage while death threats and lawsuit claims are rife.
One Etherscan transaction points to one user losing 42 ETH, or $135,000, for 0.000044170848308398 WTF, effectively $0.01.
As daylight dawns on the project, some Twitter users have called out the project as a Ponzi scheme. The referral element to the project is spurious. Referrers of the WTF project claim a 50% on fees “to make wtf go viral,” while the WTF team earns 4% from each transfer. In total, the WTF team claimed almost half a million in token transfer fees in a little over 8 hours.
Twitter user Lefteris Karapetsas didn’t mince his words:
Summing up.
WTF “team” made an app any dev can do in 1 hour Slapped a token + ponzinomics on it Anons aped without thinking and lost ETH in gas and claim fees Team has so far made 116 ETH + 6,168,806 WTF. Roughly around $855,665 and this is getting bigger by the second
— Lefteris Karapetsas | Hiring for @rotkiapp (@LefterisJP) January 14, 2022
The WTF project states merely that the supply of tokens is “deflationary”, and that 40 million WTF tokens will go to their treasury. There is not a great deal of detail regarding the token distribution. Meows.ETH concluded their Twitter thread with a zen approach to the controversial project launch:
“If you were fortunate enough to claim a big amount of $WTF and cash it out for a profit, be happy. Unless you’re attempting to bot the initial liquidity, don’t FOMO into buying a newly launched altcoin with high slippage.”
Allbridge, a cross-chain bridge that lets users transfer assets between different blockchain networks, today announced $2 million in funding led by Race Capital. Allbridge offers a simple way to bridge tokenized assets between Ethereum Virtual Machine (EVM) and non-EVM compatible blockchains.
In the seven months since launch, Allbridge has bridged over $4.8B in assets, making it the largest cross-chain asset bridge supporting Solana, Fantom, Avalanche, Celo, Polygon, Ethereum, BSC, Terra, and more.
Founded by Andriy Velykyy and Yuriy Savchenko, who have worked together since 2016 on many different crypto payments integrations and non-custodial multi-chain crypto wallets, Allbridge aims to connect all kinds of layer-1 and layer-2 networks to bring more interoperability to DeFi.
Not only does Allbridge enable users to interact with and transfer assets between EVM-based blockchains like Ethereum, Polygon, and BSC, it also bridges non-EVM compatible blockchains like Solana and Terra.
“We want to be the go-to platform that bridges every popular blockchain and digital asset on the market, enabling billions of token transfers on a daily basis. We’re also working on APIs that will enable developers to build dApps on top of Allbridge. Cross-chain swaps built on Allbridge are the easiest way to exchange any asset between any networks, enabling new functionality like cross-chain lending where users can leverage collateral on one chain in order to receive an asset on another chain.” – Andriy Velykyy, Co-Founder of Allbridge
Allbridge enables users to select the network they want to provide the liquidity to with just a couple of clicks–whenever and wherever they want.
By Trent Fuenmayor, Program Manager, Coinbase Giving
In August, we made a call for applications through our Crypto Community Fund focused on blockchain developers who contribute directly to a blockchain codebase, or researchers producing white papers. Today, we’re excited to announce the Fund’s second batch of developer grants to 6 recipients: AMIS Technologies, Josie, Escanor Liones, WeFuzz Research, and two developers funded through a partnership with Brink.
All candidates demonstrated a consistent history of contributing to blockchains, as well as innovative ideas, and provided the Fund’s advisory board with a clear, actionable outline of the projects they intend to work on. They will both be funded to work on their projects for all of 2022, with their grants funded in BTC or USD based on the recipient’s preference.
AMIS Technologies (github, blog) will be providing various digital signature protocols based on multi-party computation (abbrev. MPC) in the blockchain including ECDSA, Schnorr Signature, Bls Signature, and Bip32( i.e. Hierarchical deterministic wallet). The audited Library will continue to open to developers. They believe that MPC will be an alternative option for private key management.
Josie (github, twitter) will be working on the unit, functional, and fuzz testing in Bitcoin Core by focusing on improving test coverage and refactoring for performance and clarity. He will also be supporting three researchers on a project centered around analyzing bitcoin transactions, specifically on fees and privacy when used as a means of payment. Last but not least, he will be performing code review and testing PRs in Bitcoin Core.
Escanor Liones (github, twiter) will be designing and implementing a sequence of blockchains to promote the study, advancement and improvement of mathematics, cryptography and digital security. The present grant will fund one of those blockchains. His previous published work focused on Information-Theoretical Private Information Retrieval (IT-PIR) in the form of a practical Postgres C/C++ Extension using Quantum Resistant Lattice-based Cryptography; see the open sourced implementation here. A paper will be published with the details about the design in early summer; and, a blog or a paper towards the end of the year speaking to the implementation and the experience of designing, building and deploying a blockchain.
WeFuzz (github, twitter, website, discord) plans to build a, fully decentralized, crowdsourced security audit and bug bounty platform: a set of smart contracts that allow developers and companies to get their smart contracts, blockchains, web3 applications etc., audited by the decentralized auditors’ and hackers’ community and makes it easy for everyone to secure their assets. WEFUZZ (Chaitanya and Ranjeet) aims to become the *Hacker DAO*.
Brink (website) is a 501c3 that exists to strengthen the Bitcoin protocol and network through fundamental research and development, and to support the Bitcoin developer community through funding, education, and mentoring. They support and mentor new contributors to open source Bitcoin development through their fellowship program, and support the work of established Bitcoin protocol engineers through their grants program. Coinbase has funded two Bitcoin core developers through their partnership with Brink.
The Crypto Community Fund grantees will provide periodic updates about their work through public blog posts. The Fund will also be placing an additional call for developer grants later this year, and encourages future applicants to subscribe to updates here.
Announcing our second developer grant winners was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
An all-party committee of the United Kingdom’s House of Lords warned about the concerns of financial instability from the proposed launch of a central bank digital currency (CBDC). It warned that the launch of such a digital currency might cause a run on the banks in economic downturns.
The Economic Affairs Committee admitted some of the advantages of a CBDC. But, it found no convincing case for launching a digital version of the pound sterling, highlighting that it could pose ‘significant risks’ to the country.
“We took evidence from a variety of witnesses and none of them were able to give us a compelling reason for why the UK needed a central bank digital currency,” Lord Forsyth of Drumlean, the Chair of the Committee, said.
“The concept seems to present a lot of risk for very little reward. We concluded that the idea was a solution in search of a problem.”
Possibility of a CBDC Launch
The British central bank already joined a consortium of other top global counterparts to study and research the feasibility of launching a digital alternative of fiat currency.
The UK government’s ambition to bring such a CBDC became more prominent when Chancellor Rishi Sunak formed a joined task force of the HM Treasury and the Bank of England to better explore the possibilities of a CBDC. He even unofficially termed the digital currency, Britcoin.
The latest feedback from the parliamentary committee questions the privacy and state surveillance with such a digital fiat. In addition, it is concerned with security risks, considering both attacks on individual accounts and the underlying CBDC blockchain.
Meanwhile, the upper chamber of the House of Commons started to look into the prospect of the launch of a CBDC.
“The introduction of a UK central bank digital currency would have far-reaching consequences for households, businesses and the monetary system. We found the potential benefits of a digital pound, as set out by the Bank of England, to be overstated or achievable through less risky alternatives,” Lord Forsyth added.
An all-party committee of the United Kingdom’s House of Lords warned about the concerns of financial instability from the proposed launch of a central bank digital currency (CBDC). It warned that the launch of such a digital currency might cause a run on the banks in economic downturns.
The Economic Affairs Committee admitted some of the advantages of a CBDC. But, it found no convincing case for launching a digital version of the pound sterling, highlighting that it could pose ‘significant risks’ to the country.
“We took evidence from a variety of witnesses and none of them were able to give us a compelling reason for why the UK needed a central bank digital currency,” Lord Forsyth of Drumlean, the Chair of the Committee, said.
“The concept seems to present a lot of risk for very little reward. We concluded that the idea was a solution in search of a problem.”
Possibility of a CBDC Launch
The British central bank already joined a consortium of other top global counterparts to study and research the feasibility of launching a digital alternative of fiat currency.
The UK government’s ambition to bring such a CBDC became more prominent when Chancellor Rishi Sunak formed a joined task force of the HM Treasury and the Bank of England to better explore the possibilities of a CBDC. He even unofficially termed the digital currency, Britcoin.
The latest feedback from the parliamentary committee questions the privacy and state surveillance with such a digital fiat. In addition, it is concerned with security risks, considering both attacks on individual accounts and the underlying CBDC blockchain.
Meanwhile, the upper chamber of the House of Commons started to look into the prospect of the launch of a CBDC.
“The introduction of a UK central bank digital currency would have far-reaching consequences for households, businesses and the monetary system. We found the potential benefits of a digital pound, as set out by the Bank of England, to be overstated or achievable through less risky alternatives,” Lord Forsyth added.
Paris, France, January 13th, 2022 — Archethic, the world’s fastest and most secure blockchain network, has launched the Archethic Lab web portal, featuring a series of tools that make it easier for users and developers to join the project’s growing ecosystem.
The website contains links to Archethic’s testnet and mainnet beta, regular video tech updates, as well as all the tools and documentation a newcomer will need to get started.
“We’re embracing the spirit ofcommunity-led scalable initiatives with an open invitation to developers looking for an exciting blockchain project to get involved with from an early stage,” said Sebastien Dupont, Chairman, Archethic Foundation. “This initiative is led by Web3 builders for Web3 builders. With Archethic’s highly scalable blockchain being perfectly primed for real-world use in high-traffic use-cases such as content publication (or website hosting), mailing solutions, we’re very excited to watch this project evolve as crypto and blockchain are finally being adopted into the mainstream.”
Test how to safely store $UCO in the Archethic Mobile Wallet
One of the tools that will be of use for anybody interested in supporting the project (not just developers) is the Archethic Mobile Wallet. The wallet supports transactions of Archethic’s $UCO tokens and is also compatible with NFT transfers on the Archethic testnet.
A GitHub page is available with APKs for downloading a mobile wallet on Android devices. The page also includes a repo for developers to build their own wallets and a beta version of a web app wallet.
The wallet is highly secure, with no funds being lost should the wallet be deleted from a device. A 24-word mnemonic recovery password is all that’s needed to re-access the wallet on any compatible device. Users must make sure to keep their recovery password safely recorded in an offline or analog format for the highest security.
Build a one-page website (any website), explore the network and more
The other three tools are aimed at developers looking to get started building on the Archethic blockchain. In all cases, complete documentation has been provided — usually in both written and video form — to make it easy to learn the ropes.
AEWeb is a tool that helps web developers deploy websites on the blockchain. Boasting a decentralized security layer that is on par with aviation security standards, Archethic is a top choice for deploying a website that is as secure as can be from hacking and all other possible security failures.
A lot of websites get created globally every day where 99% of them are very small, and medium-sized websites, its maintenance, security risks & costs are very high.
AEWeb provides a single solution to all these problems within a fraction of the total cost.
Plus it’s simple to use and saves a lot of time and is secure.
Beacon Chains
The Beacon Explorer is a blockchain explorer that makes it possible to examine the “beacon chains” used to coordinate and synchronize the Archethic network. Archethic uses a unique consensus protocol called ARCH that runs multiple grouped beacon chains in parallel, with each chain being composed of blocks containing a single validated transaction each. The ARCH consensus protocol is what allows Archethic to operate so blazingly fast, capable of processing up to 1 million transactions per second.
Testnet Faucet
Lastly, developers looking to build DApps that interface with UCO will need a way to test their projects. The Archethic testnet comes equipped with a UCO faucet that supplies 100 UCO at a time, strictly for testing purposes. This allows developers to build projects without burning their own funds to validate code. Being a naturally eco-friendly blockchain, Archethic is also cost-efficient, and the UCO faucet is yet another step toward saving resources of all kinds.
The Archethic mainnet beta launched in June of 2021 after four years of research and development aimed at solving limitations and challenges faced by other blockchains. The project aims to disrupt mainstream industries such as retail and finance, giving interested developers ample opportunity to build innovative new technologies with the potential to make a real impact.
About Archethic Public Blockchain
Archethic is a highly scalable, tamper-proof Blockchain with scalability greater than 1 Million TPS, and a validation time of fewer than 5 seconds. The blockchain has the capacity to handle up to 90% maliciousness, 3.6 billion times less energy consumption than Bitcoin, and 0.1% of the transaction fees.
The platform aims to replace and improve all current applications with a comprehensive and open ecosystem, allowing people to move from the trust imposed by centralized to decentralized systems while keeping identity and privacy under the control of the user.
With Archethic, you can access your identity but no one owns it. The security and threat issues that centralized systems pose helped us realize that self-sovereign identity is needed now more than ever. An Open Source autonomous & Decentralized network in the hands of the world population created by the people, for the people.
Ethereum gained pace above the $3,250 zone against the US Dollar. ETH price is correcting gains from $3,400, but dips might be limited in the near term.
Ethereum started a strong increase above the $3,250 resistance zone.
The price is trading above $3,250 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $3,300 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to rise if there is a clear break above the $3,380 resistance zone.
Ethereum Price Gains Momentum
Ethereum started a strong increase above the $3,250 resistance zone. ETH even broke the $3,300 resistance zone and the 100 hourly simple moving average to move further into a positive zone.
The bulls even pumped the price above the $3,350 level. Ether price spiked above the $3,400 level and a new weekly high is formed near $3,412. It is now correcting gains and trading below $3,360. There was a break below the 23.6% Fib retracement level of the recent upward move from the $3,206 swing low to $3,412 high.
Ether price is now trading above $3,250 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $3,300 on the hourly chart of ETH/USD. On the upside, an immediate resistance is near the $3,380 level.
Source: ETHUSD on TradingView.com
A clear move above the $3,380 level might start another increase in the near term. The next major resistance is near the $3,420 level, above which ether price could test $3,500. Any more gains could send the price towards the $3,550 level in the near term.
Dips Limited in ETH?
If ethereum fails to start a fresh increase above the $3,380 level, it could start a downside correction. An initial support on the downside is near the $3,320 level. The first key support is now forming near the $3,300 level.
It is near the 50% Fib retracement level of the recent upward move from the $3,206 swing low to $3,412 high. A downside break below the $3,300 level push the price towards the trend line support. Any more losses could lead the price towards $3,200.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is above the 50 level.
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