Over 2 million adults in UK now hold crypto, FCA survey finds

A new study by the United Kingdom’s Financial Conduct Authority has indicated a significant increase in cryptocurrency ownership in the country. On Thursday, the FCA published the results of a consumer survey which found that 2.3 million adults in the U.K. now hold crypto assets, up from 1.9 million last year. Alongside the increasing number of crypto investors, the study also identified a surge in ownership volumes, with median holdings rising to 300 British pounds ($420) from 260 pounds ($370) in 2020. The rising popularity of holding cryptocurrency comes in line with…

Alchemix patches ‘Reverse Rug’ exploit, address $6.5 million shortfall

It’s as miraculous as Aladdin taking off on a magic carpet: in a possible first, some of the users of a decentralized finance protocol were the ones to benefit today from an exploit, turning the concept of a ‘rugpull’ on its head.  A colloquialism for when liquidity is drained from a project (often an unscrupulous founder or developer draining the funds themselves), depositors and DeFi users are most often the ones holding bad debt and/or worthless tokens — left to hope for compensation plans that can take months or even…

MicroStrategy Sells $500 Million Notes To Buy Bitcoin

MicroStrategy has successfully sold off $500 million worth of notes (“the notes”) which it announced it was selling on June 8th in a press conference, to buy Bitcoin. The notes were sold to qualified institutional buyers in a private offering in reliance to Rule 144A under the Securities Act of 1933. They were all sold to persons outside of the United States in accordance with Regulation S under the Securities Act. At the time of offering, MicroStrategy estimated that the net proceeds from the sale of the notes and related…

Korean Solana expansion gets $20 million boost

Solana-related news has surfed a number of headlines in recent months. The blockchain now appears headed for major strides in Korea, with significant funding for its surrounding ecosystem.  “As one of the largest crypto markets globally, Korea has an extraordinarily high adoption rate of cryptocurrencies,” a representative from Korean firm ROK Capital told Cointelegraph. “By expanding the Solana ecosystem in Korea, we hope to grow the awareness and adoption of decentralized applications on the Solana ecosystem as well as encourage and incubate local teams to build on Solana.” A new…

Norton360 antivirus tool will allow its 13 million customers to mine Ethereum

Cybersecurity firm, NortonLifeLock, has launched Norton Crypto, a tool allowing consumers to “safely” mine cryptocurrency through its Norton 360 product. From June 3, select 360 users will be invited to join Norton’s early adopter program for Ethereum mining. Norton also plans to open up the mining service to all of its nearly 13 million 360 customers in the coming months. Norton emphasized that its service allows users to mine without requiring they switch off their antivirus software. Speaking to CNN Business, Norton noted it plans to support mining of other…

Bonsai bonanza as Zenft studio sells out $2 million NFT drop in one hour

While the short-term market outlook for many NFT projects look uncertain and multiple new releases struggle to gain traction, one gardening-themed drop may have set some records by selling 8,888 NFTs in just under an hour. Nonfungible token studio Zenft released a line of 8,888 unique bonzai NFT plants that quickly sold out last night, with the studio selling each digital tree for .08 ETH or roughly $220 at the time of publication. The bonsais have AR/VR functionality, and their 3-D design is a step up from previous pixelated, 2-D…

Funding surpasses $2 million for this charity DAO

Opportunities for cryptocurrency usage have risen over the years as digital assets have become more well known. One operation, called Endaoment, is aiming to put charitable giving in the hands of the people and recently secured over $2 million to further its endeavor.  “Endaoment facilitates tax-deductible giving of cryptocurrencies via its Donor-Advised Funds, a kind of charitable financial account, where donors give assets to charity, and later recommend distributions to non-profit organizations,” said a Wednesday public statement provided to Cointelegraph. “Endaoment also offers Community Funds, a pooled giving opportunity where…

Privacy blockchain Dusk establishes $5 million grant program

The crypto space has grown significantly in recent years, with various projects harnessing different blockchains for their solutions. Dusk Network, a blockchain focused on privacy, now offers projects the opportunity to apply for funding for Dusk-related endeavors.  “The Dusk Grants Program seeks to engage (independent) projects, developers, researchers, academics, or community organizers that want to accelerate the growth and accessibility of the Dusk Network blockchain platform,” Dusk said in a public statement on Tuesday. “The program is open to anyone and everyone, though applications need to be relevant to Dusk…

Sotheby’s moves $10 million CryptoPunk to solo auction event

One ultra-rare CryptoPunk is set for some extra stage time at a hotly anticipated upcoming auction.  In a Tweet today, luxury auction house Sotheby’s announced that the sale of CryptoPunk #7530, also known as “Covid Alien”, will be offered during a “special, standalone” auction. The Punk was previously announced as part of the “Natively Digital” event, which highlights the history of NFTs and cryptoart with a selection of pieces that include what many consider to be the first-ever NFT, Kevin McCoy’s “Quantum,” an animation minted in 2014 on the Namecoin…

EY invests $100 million to expand blockchain product suite, launches DeFi contract simulator

“Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications. On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications. “The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY…