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Bricks Buster Burns 119M Shiba Inu Coin

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Mobile game app, Bricks Buster has completed its very first Shiba Inu burn by sending 119,490,000 SHIB to a dead wallet on the 15th of November, 2021. This put the total burnt Shiba Inu coin at 410,298,914,531,867, representing 41 percent of the initial supply of 1,000,000,000,000,000 Shiba Inu coin.

According to Bricks Buster’s mobile game developer, Travis Johnson, his team had projected burning over $20,000 worth of SHIB. However, the ad revenue generated with the Bricks Buster game was $5,010.

Travis said, “at the beginning of November, we were on track to burn over $20,000. Maybe people were unsure if the burns were actually happening and didn’t want to devote time to this game”. He believes that the transparency in the details of the burned Shiba Inu coin will clarify all doubts and reveal the legitimacy of the Bricks Buster mobile game SHIB burn process.

Travis also acknowledge the support of the ShibArmy, he said, “The ShibArmy really goes all out when it supports something, my personal interactions with members of the army have been overwhelmingly positive as well, [with them] asking how they can support me. All they have ever asked in return is for me to show proof, which I respect.”

He further affirmed that the plan was to burn 100 percent of the revenue generated through the mobile game app, and this could last through 2022.

Travis calls for more support from the ShibaArmy, he said: “if we had 100% support by the 1.1 million holders of SHIB, and each holder played one level a day on Bricks Buster, we could be burning $60,000 per day, I’m talking with a few SHIB influencers about how to implement that challenge in the community.”

Bricks Buster has scheduled the next Shiba burn to mid-January 2022. At the time of writing SHIB is sitting on the 13th spot of the digital assets by market capitalization and trading at $0.00003195.

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Bitcoin

Bitcoin Trades Above $24,000 Against Dollar as US Inflation Slows Down

The flagship cryptocurrency was accompanied by a number of altcoins in the new rally, leading to an all-round green across the crypto markets

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bitcoin to Nigerian Naira - Investors King

Bitcoin (BTC) trades above $24,000 on Thursday as inflation in the world’s largest economy, the United States slows down.

As expected, the flagship cryptocurrency was accompanied by a number of altcoins in the new rally, leading to an all-round green across the crypto markets. 

According to the Chairman of the US Federal Reserve, Jerome Powell, inflation in the United States has relatively slowed down but remains elevated. The Fed, therefore hiked the interest rate by 25 basis points (0.25). 

“Inflation has eased somewhat but remains elevated…we can now say, I think for the first time, the deflationary process has started.” Powell said during a press conference after a two days meeting of the Fed. 

Before the announcement, Bitcoin had met a strong resistance around $23,800. The news saw bitcoin trade at $24,255 according to Coinmarketcap. This is the first time BTC will tip above the $24,000 mark in 2023.

Riding on the news, a number of Altcoins including Ethereum (ETH), Binance Coin (BNB) MATIC and SAND also rose alongside Bitcoin, leading to the crypto market cap increasing by more than $40 billion shortly after the news. 

While the second most capitalised cryptocurrency, Ethereum (ETH) traded at $1,696 on Thursday, recording a single-digit gain of 8%, other altcoins such as Matic and SAND recorded a double-digit gain within a few hours after the news. Data from the Binance platform reveals. 

Furthermore, Investors King gathered that a significant number of crypto enthusiasts welcome the recent development, stating that it is a confirmation that cryptocurrency could perform well in 2023. 

Meanwhile, a well-known crypto analyst, PlanB holds the opinion that Bitcoin could be on its way to a triple top cycle which might see BTC trade above $65,000 in 2023. 

Similarly, the rising number of retail and institutional investors scooping Bitcoin and other high-cap digital currencies could help to ignite the next rally. 

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Coinbase Add Extra Layer Security to Protect Users From Scam

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One of the leading Cryptocurrency Exchange Platforms, Coinbase disclosed that it has enhanced its security measures by adding extra layers of security features. The US-based crypto platform noted that such measures will protect its users from crypto-related scams. 

From Airdrop scams to pump-and-dump schemes, Crypto-related fraud has been on the rise in recent times. Such scams have continued to go unabated because of the decentralized nature of cryptocurrency and the vulnerability of the industry. 

In February 2022, cryptocurrency exchange platform Wormhole lost $320 million after a cyber attack while thousands of Americans lost more than $1 billion to crypto fraud in 2021. A report by the Federal Trade Commission revealed. 

Speaking on the new feature, Coinbase noted that the enhanced security layer will protect its users from malicious airdrops and dangerous websites which are assessed through DApp as well as hiding fees. The enhanced security will also protect Coinbase users from phishing attacks. 

“To give you more peace of mind as you conduct swaps, mint NFTs, and transact in web3, Coinbase Wallet now shows you an estimate of how your token and NFT balances will change during a transaction before you hit confirm”. The crypto platform noted in a blog statement sent to users. 

Investors King understands that Coinbase has been improving its security after hackers drained customers’ accounts in 2021. 

A number of Coinbase users across the United States complained that their money suddenly vanished from their accounts without their knowledge. 

Coinbase thereafter introduced several security measures which include 2 Factor Authentication (2FA). This means, aside from username and password, Coinbase users will need to provide a unique verification code sent to their phones. 

Other security measures adopted by the crypto platform include Google Authenticator and Security Prompt which delivers push notifications to users’ phone anytime there is an attempt to access their wallet from a mobile device different from theirs.

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UK Government Set to Regulate Cryptocurrency; Says Treasury Minister

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Cryptocurrency - Investors King

The UK Government has announced that it will regulate cryptocurrency to manage the numerous risks associated with the industry. This announcement is coming after the Treasury Minister estimated that up to 10% of UK adults now own some form of crypto. 

According to the minister, the measures which will be captured in the regulation are aimed to “mitigate the most significant risks” of crypto technologies, while “harnessing their advantages”. 

In 2022, the UK Prime Minister, Rishi Sunak, who was then Treasury Minister, said he wanted to make the UK “a global hub for crypto-asset technology.

The regulation proposal which was unveiled today was designed to address exigencies issues that might accompany cryptocurrency such as the collapse of FTX Exchange which hurt many cryptocurrency traders. 

Investors King learnt that the regulation plans to oversee the entire crypto industry in the United Kingdom, with proposals on stronger rules for trading brokerage, crypto lending, and new token issues among others. 

Meanwhile, the news of the potential regulation is perceived differently among the crypto community in the United Kingdom. While some welcomed the development as a step to corporate acceptance, others viewed it as a systematic crackdown on the crypto industry. 

It would be recalled that the United Kingdom had ab initio maintained a mixed policy on cryptocurrency due to the high rate of fraud associated with it. 

The UK government also created a dedicated crime unit for the crypto sector to track cryptocurrency-related fraud while the government also launched a massive crackdown on ‘misleading’ cryptocurrency ads. 

In 2021, crypto ads flooded London’s underground rail network and buses amid the growing interest in bitcoin and other digital currencies.

However, with the potential introduction of the proposed regulation, the UK crypto industry will function alongside the traditional financial market. It will also enjoy more clarity, confidence and consumer protection. 

It is believed that the regulation which will put cryptocurrency under the mainstream financial market will usher in a number of investors from the traditional market. Thereby, leading to more capital inflow. 

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