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Vitalik Buterin, Coinbase, 21co, MetaMask, and other Market News

Vitalik Buterin, Coinbase, 21co, MetaMask, and other Market News

Vitalik Buterin, the co-founder of Ethereum, has successfully recovered his T-Mobile account after it was hacked by an unknown attacker. Buterin said he did not realize that his phone number was linked to several important services, including his email and crypto wallets. He thanked T-Mobile for their prompt assistance and urged other users to secure their accounts with strong passwords and two-factor authentication.

He also advised users to avoid using SMS-based verification, which can be easily compromised by SIM swapping attacks. Buterin said he was lucky that the hacker did not access any of his sensitive data or funds, and that he learned a valuable lesson from this incident.

Coinbase, the leading cryptocurrency exchange platform, announced that it will seek to influence the global regulation of digital assets through its participation in the G20 summit in Brazil next year. The company said that it will work with other stakeholders to promote a “global consensus” on the rules and standards for crypto innovation, while respecting the sovereignty and diversity of each country. Coinbase also stated that it will advocate for a balanced and inclusive approach that fosters innovation, protects consumers and investors, and supports financial inclusion and economic growth.

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21co, a blockchain platform that aims to provide decentralized financial services, has announced the launch of wrapped versions of several popular cryptocurrencies, including bitcoin, XRP, ether, and Litecoin. Wrapped tokens are digital assets that are pegged to the value of another token and can be used on different blockchains. For example, wrapped bitcoin (WBTC) is an ERC-20 token that represents one bitcoin on the Ethereum network. By using wrapped tokens, users can access the benefits of both blockchains, such as faster transactions, lower fees, and more functionality.

The wrapped tokens launched by 21co are based on the Binance Smart Chain (BSC), a blockchain that is compatible with Ethereum but offers higher scalability and lower costs. Users can deposit their original tokens on 21co’s platform and receive the corresponding wrapped tokens on BSC. They can then use these tokens to participate in various decentralized applications (dApps) and protocols on BSC, such as lending, borrowing, trading, and staking. Users can also redeem their wrapped tokens for the original tokens at any time.

MetaMask, the popular browser extension and mobile app that allows users to interact with Ethereum-based applications, is expanding its functionality beyond the Ethereum Virtual Machine (EVM) ecosystem. The team behind MetaMask announced the launch of Snaps, a new plugin system that enables developers to create custom extensions for MetaMask that can support any blockchain, layer 2 solution, or decentralized protocol. Snaps are designed to be easy to install, secure, and composable, allowing users to customize their MetaMask experience and access a wider range of decentralized applications.

Snaps also aim to reduce the friction and complexity of using different blockchains and protocols, by providing a unified interface and a consistent user experience. With Snaps, MetaMask hopes to become a universal wallet and gateway to the decentralized web, not just for Ethereum, but for any blockchain or protocol that developers and users want to use.

Alex Mashinsky, the former chief executive officer of Celsius, has filed a motion to dismiss the lawsuit brought by the Federal Trade Commission (FTC) against him and his company. The FTC alleges that Celsius engaged in deceptive and unfair practices by promising high returns on crypto deposits without disclosing the risks and fees involved.

Mashinsky argues that the FTC has failed to show any evidence of consumer harm or injury, and that Celsius complied with all applicable laws and regulations. He also claims that the FTC is overstepping its authority and trying to stifle innovation in the crypto industry.

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