Bithumb to block crypto withdrawals to unverified private wallets

Starting on Jan. 27, the South Korean crypto exchange Bithumb will not allow users to withdraw their crypto assets to unverified private wallets. On Jan. 24, the exchange announced that it would be the second of the four major exchanges in the country to ban withdrawals to unverified wallets. Coinone enacted a similar policy late last month and the other major exchanges are Upbit and Korbit. The new policy states that users may only register their own private wallets. In order to perform the registration process, users must undergo an…

Paris Hilton says that the Metaverse will be the ‘future of partying’

The OG influencer Paris Hilton has continued her crusade into the Metaverse, saying that she sees it as the “future of partying, going out, interacting with people, and being social”. On Jan. 25, Hilton appeared as a guest on the ‘Tonight Show’ with Jimmy Fallon, where she spoke about her experiences in the NFT community. Hilton told Falon that she will be dropping her first NFT collection with Super Plastic on the Origin protocol “soon,” but didn’t give any further details regarding a timeframe. Super Plastic is a vinyl toy…

Ethereum Turns Red, What Could Trigger Steady Recovery

Ethereum extended decline below the $2,400 support zone against the US Dollar. ETH price is recovering, but it must clear $2,550 for a steady upward move. Ethereum extended decline below the $2,500 and $2,400 support levels. The price is trading below $2,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,450 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it fails to recover above $2,500 and $2,550. Ethereum Price Keeps Struggling Ethereum…

Green shoots? Institutional crypto funds see first inflows in 5 weeks

After five weeks of constant outflows, institutional investment is finally trickling back into crypto funds with BTC the asset of choice and ETH falling out of favor. In its weekly Digital Asset Fund Flows report published on Jan. 24, crypto investment firm CoinShares observed inflows for some institutional products. It is the first time in five weeks that there has been a net positive inflow as $14.4 million re-entered the space with investors buying the dip. The researchers reported that these inflows came during a period of significant price weakness,…

Bank of America says stablecoin adoption and CBDC is ‘inevitable’

It appears that the U.S. will finally be moving forward to create its own central bank digital currency (CBDC) according to the Bank of America. Bank of America crypto strategists Andrew Moss and Alkesh Shah wrote in a Jan. 24 note that CBDCs “are an inevitable evolution of today’s electronic currencies,” according to a Bloomberg report. The analysts wrote: “We expect stablecoin adoption and use for payments to increase significantly over the next several years as financial institutions explore digital asset custody and trading solutions and as payments companies incorporate…

Bitcoin Starts Recovery, Why $38K Is The Key For Reversal

Bitcoin extended decline below $34,000 against the US Dollar. BTC is recovering, but it must clear $38,000 for a steady upward move. Bitcoin remained in a bearish zone below the $38,000 and $36,500 support levels. The price is now trading near $36,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $35,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major increase if there is a clear move above the…

Doodles NFT Creators on Community and Web3 for HYPETALKS

HYPETALKS returned with another session last Monday evening, centered on the evolving role of art in web3. Hosted on Twitter Spaces, HYPEBEAST Senior News Editor Rosie Perper facilitated a conversation between the founders of the community-driven NFT project Doodles, Evan Keast, Jordan Castro and artist Burnt Toast (Scott Martin), as well as the Doodles’ “web3 philosopher” GERONIMO (Jihan Zencirli) and gallery owner and NFT collector Todd Kramer. Citing Doodles’ success in the NFT space since its launch only a few months ago, Perper kicked off the discussion with the question…

Meta unveils Metaverse AI supercomputer, claims it will be world’s fastest

Facebook’s parent company Meta says that its newly-created artificial intelligence (AI) “Research SuperCluster” (RSC) will “pave the way” towards building the Metaverse. The social media giant said that it believes RSC is already one of the fastest supercomputers in the world and will snag the top spot when it’s fully operational in mid-2022, according to a Jan, 24 blog post unveiling the hardware. “Developing the next generation of advanced AI will require powerful new computers capable of quintillions of operations per second,” wrote the company. “Ultimately, the work done with…

More evidence game devs hate NFTs and crypto

A recent survey revealed that most game developers and their studios have no interest in developing or working with nonfungible tokens (NFTs) or crypto payments. The survey released by the Game Developers Conference on Jan. 21 titled State of the Game Industry 2022 polled 2,700 game developers on their level of interest in NFTs and cryptocurrency. Results were less than favorable for gamers themselves, who have shown great interest in NFTs. A resounding majority of respondents indicated that their studio is ‘not interested’ in cryptocurrency as a payment tool (72%)…