Tuesday, September 7, 2021

Today in crypto: Steph Curry becomes a Crypto global ambassador; Howard University cancels classes due to ransomware attack; Coinbase went down again as prices collapsed

Mercury News:

“I’m excited to partner with a company that demystifies the crypto space and eliminates the intimidation factor for first-time users,” Curry said in a press release. “FTX is likeminded when it comes to giving back to the community in meaningful ways and I can’t wait to see what we can achieve together.”

Techcrunch:

In order to enable its IT team to fully assess the impact of the ransomware attack, Howard University has canceled Tuesday’s classes, opening its campus to essential employees only. Campus Wi-Fi will also be down

LAT:

This week, El Salvador will become the first country to accept bitcoin as legal tender, a controversial move pushed by the young, headstrong and exceptionally popular president, Nayib Bukele.

But the rollout of cryptocurrency has been upstaged by a more urgent concern: a series of withering attacks by Bukele and his ruling party on El Salvador’s three-decade-old democracy.

...

Bukele . . . has been hailed as a visionary by bitcoin backers around the world

Fast Company:

On Tuesday after Labor Day, a number of factors coalesced to bring about a staggering drop in the cryptocurrency market, eradicating more than $400 billion of its total value in a matter of hours. Tokens across the board were down midday, with bitcoin shedding over 8%, ethereum over 10%, and Dogecoin over 15% in the past 24 hours.

But to many investors’ agony, in the midst of the massive dip—and the inevitable panic sell-off that came with it—popular crypto-trading platform Coinbase was down as well. Users on social media reported being unable to access the platform’s exchange services, instead receiving alerts of canceled transactions. Other users were unable to log in at all, due to “connection issues” or unspecified server errors.