Community

The USA monetary regulators seem to be quite controversial on cryptocurrency. While some watchdogs remain cautious, if not hostile, others tend to relieve their stance.

YouTube seems to proceed with its Crypto Purge as another blockchain and cryptocurrency channel was blocked for 3 days citing “promotion of illegal activity”. On the other hand, the platform often allows cryptocurrency scams, demonstrating that its security policy has a breach.

Global tech bulls have been partnering with cryptoasset platforms to offer the community with the fringe use cases of DLT. Now, Stellar has also jumped onto the bandwagon as Samsung included the coin in its crypto wallet.

As the community was astounded by the bold hack of prominent Twitter accounts, it revealed the general vulnerability of centralised social media, where all information is kept at one place. It would not be possible to break a decentralized platform that easily.

After PayPal’s letter to the EU Commission was revealed, many news outlets started speculating that the company confirmed their plans on cryptocurrency implementation. However, the letter has no details on any cryptocurrency-related activity except for research, which only proves the company’s interest in cryptocurrency.

While many community members complain that YouTube is demonstrating hostility to cryptocurrency-related projects, scammers using the platform to trick people prove such measures are somewhat reasonable.

As innovative technologies like blockchain and cryptocurrency gain popularity, they draw the attention of global celebrities from various fields. Now, a rapper Jay Z and a movie star Will Smith invested in a startup aimed at helping Ethereum developers.

The Ouhai police in Wenzhou, China, arrested 10 people belonging to a criminal gang running the Huobi Global Moving Brick Arbitrage HT Chinese Group Community scam project in Telegram. During the arrest, the police confiscated a luxury villa, cars, flagship smartphones, computers, as well as cryptocurrency totalling to over 100 million yuan.

In a call with investors on May 27, Goldman Sachs, the New York-based multinational investment bank and financial services company maligned Bitcoin and cryptocurrencies, saying they are “not assets.” This statement attracted negative reactions from the crypto community.