Crypto Flipsider News Binance Adds Apple Pay; Overview of Ethereum 2022; GROUND falls 97%; CNBC Turkey test; FBI probes 3Commas by DailyCoin

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Crypto Flipsider News Binance Adds Apple Pay; Overview of Ethereum 2022; GROUND falls 97%; CNBC Turkey test; FBI probing 3 commas

To read in the Digest:

Binance Integrates Apple (NASDAQ:) Pay and Google (NASDAQ:) Pay as Crypto Payment Options Foundation Developers Share 2022 Overview and Project Updates Completes First Phase of CBDC Testing FBI Reportedly Investigating 3Commas users’ API keys leaked Binance integrates Apple Pay and Google Pay as crypto payment options

The world’s leading crypto exchange, Binance, announced in its recent Binance Build update that its users can now purchase cryptocurrencies using credit and debit cards through Apple Pay and Google Pay.

The move is an important step in the global adoption of crypto assets and improving the accessibility of digital assets, as Apple Pay alone has 43.9 million users. Google Pay has 25 million according to data from Business.com.

According to the December 29 update, the payment options are only available to UK and EEA (European Economic Area) citizens. In addition, users who wish to access the service must follow the Binance account verification procedure.

Flipsider: Binance explained that the new service is not provided directly by the exchange but through the services of “third-party partners” that Binance works with from time to time. Why You Should Care

The integration will make buying crypto easier for users. It could also boost customer acquisitions of digital assets on Binance.

Ethereum Foundation Developers Share 2022 Roundup and Project Updates

In a December 29 blog post, the Ethereum Foundation summarized its developments to its research team and customers. The developers see the switch to proof-of-stake as an important step towards scaling the network and improving security.

The Ethereum Foundation has revealed that staked ETH withdrawals on the beacon chain are a priority and will be available soon. However, there was no specific timeline for the withdrawal of the 15,766,262 ETH locked in the network.

Ethereum developers Fe Lang note that they are preparing for the first beta launch of Fe – a language for Ethereum virtual machines. The crypto team highlights its work with researchers to build a signature scheme to protect Ethereum against quantum computers.

Building on the merger, other teams have been ramping up work to dramatically improve the scalability and performance of the Ethereum network, with most gearing up for a 2023 launch. Learn more here.

Flipsider: Although Ethereum’s goals include processing 100,000 transactions per second at significantly lower fees, it would take a few more years to achieve that. Why You Should Care

The summary of the update shows how important the merger is in achieving Ethereum’s long-term goals, which can now be made possible.

Solana (SOL) price drops to 97% of its all-time high, comparable to Bust tokens

Solana’s (SOL) close tie to collapsed crypto exchange, FTX, has seen the token go into a free fall since early November. Prior to the FTX implosion, SOL was trading at $38.55 on Nov. 5.

However, following the collapse, SOL fell more than 73% to trade at $8.14 – the first time Solana will be below $10 since February 2021. The recent 41% drop the last week follows the migration of network projects.

The 3 month price chart for Solana (SOL). Source: CoinMarketCap

SOL has lost nearly 97% of its value since peaking at nearly $260 in November 2021 and is down more than 95% since the start of 2022. Solana’s 97% price drop puts it in the same category as broken parts, including (FTT) and (MOON).

The year-to-date price chart for Solana (SOL). Source: CoinMarketCap

Solana’s market capitalization peaked at over $76 billion in November 2021, but is now valued at $3.3 billion. There could be hope for Solana as SOL forms a Doji candlestick on the daily chart, signaling the potential for a 50% uptrend.

daily price chart with Doji candlestick pattern. Source: Trading View

Flipsider: Despite Solana’s challenges, Ethereum founder Vitalik Buterin backed Solana, saying the project has a bright future. Why You Should Care

Solana’s outage may be related to the ownership and dumping of SOL by Alameda Research, ongoing network issues, and the recent migration of projects.

Central Bank of Turkey successfully completes first phase of CBDC tests

The Central Bank of Turkey (CBRT) announced on December 29 that it had completed its “first payment transactions” for its Central Bank Digital Currency (CBDC) network using the Turkish digital lira, which is the initial testing phase before final version.

According to the bank, CBRT will continue small-scale, closed-loop pilot testing with tech players in the first quarter of 2023. Test results will be shared with the public through a “comprehensive evaluation report.”

Upon completion of this phase, the Turkish digital lira will move into advanced testing stages where the mass like some banks and fintech companies can participate in the CBRT pilot tests.

The CBRT first introduced the idea of ​​a digital Turkish lira and has not made any decision on whether to issue it in September 2021 under a research project called “Central Bank Digital Turkish Lira Research and Development and is now exploring the use of distributed ledger technology in payment systems. and their “integration” with instant payment systems.

Flipsider: Turkey aims to boost its currency which lost 29% of its value in 2022, by introducing the digital Turkish Lira. Why You Should Care

Throughout 2023, studies will focus on the technological requirements and the economic and legal framework of the digital Turkish lira.

FBI reportedly investigating leak of 3Commas users’ API keys

Just hours after 3Commas CEO Yuriy Sorokin finally took responsibility for the leak that saw the API keys of 100,000 3Commas users published online, the Federal Investigation Bureau (FBI) is believed to have been implicated.

The FBI is currently investigating the data leak from the Estonia-based crypto trading service, which saw at least 60 users lose over $20 million worth of crypto. At the time, 3Commas denied any involvement, linking the hack to phishing.

Victim group leader Edmundo (Mundy) Pena said they had already contacted the US Secret Service and other law enforcement agencies to figure out how their funds went missing.

Sorokin noted that the company will continue to investigate and work with law enforcement agencies. However, the API database leaker openly stated that an insider sold the 3Commas keys.

Flipsider: Despite reports, Sorokin maintains that “no 3Commas employees have been involved in any way in attacks against API data.” Why You Should Care

While there is no official word from the FBI, an investigation would be needed to figure out how the database and user funds went missing.

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