Coinbase Contract with Govt Sparks Anger 😡

Not everyone is a fan of Coinbase working with the government. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $1.91T (-9.21%) 24 Hour Volume $120.46B (+43.78%) Notable Movers[(GRV) $59.76]( (+216.30%) Notable Movers (DeFi)[(VAI) $0,9002]( (+5.02%) Bitcoin Dominance 42.85%[(+0.60%)]( Bitcoin Price[(BTC) $43,489.26 (-8.27%)]( Ethereum Price[(ETH) $3,019.89 (-9.95%)]( Cardano[(ADA) $2,09 (-10.19%)]( Yet Another DeFi Hack Today, you might be waking up to news of yet another DeFi hack (or you might be falling asleep to it, who knows what time zone you all are in). This time, $12 million in wrapped Bitcoin (227 Bitcoin, to be exact) was taken from DeFi platform pNetwork. I hadn’t heard of pNetwork before, but at least 17,000 CoinMarketCap accounts had their [PNT]( token on their watchlists (not the token that was stolen, but still an indicator). Of course, over the day, PNT is down more than 21%, while PBTC (the stolen token) is down over 31% (and this wrapped BTC is only on 1,000 watchlists). While this may not have been the most popular, up-and-coming DeFi protocol out there, it’s obviously still a shame when black hat hackers take advantage of bugs in DeFi code — it’s also a shame that some projects are being built quickly and without the proper due diligence. This isn’t a jab at pNetwork — who have identified the bug and proposed a fix for review — but a snarky comment on the speed at which the DeFi space grows, with teams sometimes throwing the review process out the window to get the protocol up and running as soon as possible. There are growing pains in any new industry, but the problem in DeFi is that people are ready to throw so much money into new protocols that mistakes have greater consequences. I guess what I’m really saying is — never put in more than you are willing to lose, and always (always) do your own research. SPONSORED AD The Most Popular Way to Trade Crypto Low fees, 80+ trading pairs. Trusted by millions of users across 200 countries. Trade with the fastest matching engine in crypto. [Trade Crypto]( Low fees, 80+ trading pairs. Trusted by millions of users across 200 countries. Trade with the fastest matching engine in crypto. [Trade Crypto]( Today’s Top Stories 🌟 Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ]( Bitcoin Wipes Out Weekend Gains 💸 On Saturday, Bitcoin hit highs of $48,791.78. But as a new week begins, such prices already seem like a distant memory. The world's biggest cryptocurrency suffered a sharp sell-off heading into Monday — falling below $44,000 at one point. As a result, it looks like any return above $50,000 is going to be far from easy for bulls to achieve. [Here's the latest.]( El Salvador Buys the Dip 💰 As prices plunged, El Salvador President Nayib Bukele announced the country was snapping up an additional 150 BTC, taking the country's total crypto stash to 700 BTC. Offering "presidential advice" on Twitter, he wrote: "They can never beat you if you buy the dips." In a swipe at critics, Bukele has also changed his social media bio to "Dictator of El Salvador." [Read more.]( Coinbase Signs $1.36M Govt Contract 👀 Coinbase has signed a $1.36 million deal to provide blockchain analytics software to the U.S. federal government — its biggest such contract yet. The agreement has led to fierce criticism among some members of the crypto world. One wrote on Twitter: "Strange that they would risk so much reputationally for such a relatively small sum." [Check out our full story.]( Full Ban on Stablecoins 'Would Be Sad' 😞 FTX CEO Sam Bankman-Fried has said an outright ban on stablecoins in the U.S. would be "sad" — and affect the usability of crypto platforms. Speaking to Bloomberg, he also admitted that Solana’s high-profile outage last week was "frustrating." It comes as Washington weighs up its options when it comes to cracking down on stablecoins. [What could happen.]( Thanks for reading! Have a great day — more news tomorrow! 👋 [Read More]( We Aren’t Just Daily News. Take A Look At Some Of Our Other Products: Bitcoin Price Prediction Predict the Bitcoin Price on the "End-of-Month" and Win USDT [Predict Bitcoin Price]( Bitcoin Price Prediction Predict the Bitcoin Price on the "End-of-Month" and Win USDT [Predict Bitcoin Price]( [Go to CoinMarketCap]( [App Store]( [Google Play]( [Facebook]( [Twitter]( [Instagram]( [Telegram]( © 2021 CoinMarketCap [Update Settings]( | [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States