The R Roundup: Coinbase Claims Number #1 Downloaded App — Issue #12
Recently this week Coinbase overtook TikTok as the top free downloaded app in the US. Despite crypto still being a new market, this could be one of the biggest indicators that mainstream adoption is growing at an exceptional rate.
Coinbase being one of the top exchanges in the crypto space, it’s not a surprise that they are the go-to exchange for retail investors however, from a wider angle being the top downloaded app also increases your reach to a new audience who may gain an interest in the digital asset market.
Another DeFi Hack?⚠️
It was reported this week that Cream Finance was on the end of an exploitive attack.
Cream Finance made the following statement 🍦;
A total of around $130 millions USD worth of tokens were exploited which eventually resulted in Cream Finance pausing the lending markets on Ethereum.
The Cream team have successfully been able to identify the vulnerabilities and the areas of exploitation and they have managed to patch them. The harsh reality of any market is that there is always the possibility of hacks especially within crypto. Cream have recently claimed that the reported tokens which were stolen have been placed in a Uniswap V3 liquidity pool (CRETH2).
Trade with caution as there is always the possibility for hacks and exploitive attacks.
FTX Makes Super Bowl Crypto 🏈
Each year millions gather round to watch one of the most popular annual sporting events in the world, the Super Bowl. With charismatic athletes and high-profile entertainment, the Super Bowl is always an eventful evening.
The crypto currency exchange FTX has recently announced the purchase of a Super Bowl advertisement slot.
The CEO of FTX Sam Alameda was recently interviewed by CoinDesk where he disclosed his plans for FTX.
Alameda said the following “ We actually wanted to buy the Super Bowl itself but they don’t yet accept cryptocurrency. So we’re settling for buying ad time.”
This is a further indication to the magnitude in which FTX has grown and intensifies the whole drive for adoption as The Super Bowl is viewed by over 90 million people.
For more information on the details of the Super Bowl AD — https://www.coindesk.com/business/2021/10/26/ftx-to-run-ad-during-super-bowl-as-it-delves-further-into-sports-sponsorships/
As a reminder this is not a trading signal, it is an opinion and each trader/investor should know and understand the risks attached with trading. At no point should this be regarded as financial advice.
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