How Coinbase is Offering Fee-Free Crypto 👀

Would you directly deposit your paycheck into an exchange? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ [CoinMarketCap Earn]( Market Activity Total Market Cap $1.87T (-3.26%) 24 Hour Volume $92.99B (-4.04%) Notable Movers[(XEC) $0.0002783]( (+20.57%) Notable Movers (DeFi)[(FTM) $1.26]( (+4.79%) Bitcoin Dominance 42.32%[(-0.03%)]( Bitcoin Price[(BTC) $42,088.48 (-3.14%)]( Ethereum Price[(ETH) $2,929.69 (-4.70%)]( Cardano[(ADA) $2,13 (-3.34%)]( 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]( Would You Pay $23.7 Million to Send $100,000 on the Blockchain? No. And nobody should. But because of the way that Ethereum gas fees work — you can pay a higher gas fee to make sure that your transaction goes through faster — what appears to be a huge fat finger typo has led to this exact situation. Yesterday, a wallet that belonged to crypto exchange Bitfinex really did pay $23.7 million (at the time) in transaction fees in order to send a mere $100,000 in Tether. If you don’t believe me, believe [Etherscan](. In this particular fat finger gas fee incident, most of the money was actually [returned]( back to the wallet (for a much more reasonable gas fee of about $33) — but another gas fees disaster in the past didn’t have as happy an ending for the sender. More than a year ago, several small Ethereum transactions by the same sender had the wild sum of $5 million in gas fees. In this case, the sender never came forward, the money was not returned, and for an apparent lack of a better idea, the mining pools that facilitated the transactions decided to distribute the oversized fees back to the miners. In last year’s case, Ethereum co-founder Vitalik Buterin had noted that an upcoming Ethereum Improvement Proposal (EIP-1559 specifically) would help avoid this typo-problem in the future by removing the need for users to set their own gas fees. EIP-1559 was activated already back in August, and the latest fat finger gas fee did use the new EIP-1559 type of transaction — so what gives? DeversiFi (the Bitfinex-connected platform that actually processed the $23.7 million transaction) somewhat ironically promotes itself as giving users access to DeFi protocols "without paying gas fees" — looking forward to their promised "post mortem" in the coming days. But even without their most likely highly technical explanation for how such a bumble could have occurred, my advice for today is straightforward — always double-check your gas fees! SPONSORED AD ArtVerse NFT Marketplace. Pre-sale Starts Sep 27 on Bitrue! ArtVerse is an advanced NFT market for art creation. Join the token sale on Bitrue & share 15,000,000,000 AVT rewards. [Start Earning Now!]( ArtVerse is an advanced NFT market for art creation. Join the token sale on Bitrue & share 15,000,000,000 AVT rewards. [Start Earning Now!]( 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 ]( Coinbase: Direct Deposit Paychecks For Fee-Free Crypto 💸 Coinbase says it is going to allow customers to deposit their paychecks directly into their accounts. From here, they can then snap up crypto without paying fees. The exchange also plans to sign up companies that want to offer their employees the ability to get paid in crypto. Rewards on Coinbase's Visa card are also being expanded. [Here's the latest.]( El Salvador Chivo Stats Revealed 🚀 According to data shared by President Nayib Bukele, El Salvador's adoption of Bitcoin is going from strength to strength. A dashboard suggests that 2.25 million people have now downloaded the official Chivo wallet. The figures also indicate that the system is processing an average of 65,437 transactions per second. [Crunch the numbers here.]( ETH Developer Pleads Guilty over North Korea Trip 🇰🇵 Virgil Griffith has pleaded guilty to violating U.S. sanctions by giving a talk on crypto and blockchain at a 2019 conference in Pyongyang. Griffith claimed he discussed basics, but the FBI said he specifically discussed ways to get around sanctions. The plea carries a potential 20-year sentence. [Read more here.]( FTX Abandoning Hong Kong For Bahamas 🇧🇸 While not directly related to the current crackdown in mainland China, FTX has announced plans to move from Hong Kong to The Bahamas. CEO Sam Bankman-Fried said a friendly government and "comprehensive" legal framework was behind the move, but Hong Kong is following the mainland’s crypto hostility. [Learn more here.]( Thanks for reading! Have a great day — more news tomorrow! 👋 [Read More]( [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