🦎🚀 Been hearing rumors👂

Thursday, February 9, 2023

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Operator of Coin Cloud digital currency ATM in the United States and Brazil, Cash Cloud, has filed for Chapter 11 Bankruptcy.

Bankruptcy filings reveal that the company has liabilities between $100 million and $500 million, owing to between 5,000 and 10,000 creditors — with the biggest creditor being bankrupt lender Genesis with an unsecured claim of $108 million.

Coin Cloud was ranked second worldwide by ATM count before its bankruptcy, operating over 4,800 machines claiming to support over 40 currencies.

In today's news, Def Jam breaks into Web3, interests in Bitcoin NFTs skyrockets and Coinbase CEO stands behind crypto staking for retail.

Read on!

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Not only did the Philippines top the list with the highest total search score for 'Bondee' and related terms, it has outranked all countries by over 5 times. 🇵🇭👀

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Def Jam Enters The Studio

Reputable hip-hop music label Def Jam Recordings enters Web3, aiming towards curating a musical act around NFT avatars.

The label announced a collaboration with Solana-based project Catalina Whale Mixer to create a virtual band called 'The Whales', with avatars being based on the NFT project and the tunes' inspiration coming from both traditional and Web3 avenues.

The collaboration follows a similar venture Kingship, a virtual band put together using bluechip NFT collection Bored Ape Yacht Club avatars.

Decrypt

Coinbase CEO Backs Staking

Co-founder and CEO of American cryptocurrency exchange Coinbase, Brian Armstrong, expresses his stance against banning crypto staking for retail investors and outlining the clear benefits that staking brings.

His tweet arose in the midst of rumors that the U.S. Securities and Exchange Commission is moving to put a stop to retail staking.

The executive reinforced calls for regulation in the space while maintaining space for innovation to prosper.

Cointelegraph

Bitcoin NFTs Are In!

Crypto derivatives firm BitMEX's research arm published a post indicating interest in Bitcoin NFTs skyrocketing following the launch of NFT project Ordinals.

The research reveals that over 13,000 Ordinal NFTs have been minted just a few weeks after its launch on December 14, 2022.

The impressive reception for the collection's debut followed controversy during its announcement, splitting the community around BItcoin's use cases.

CoinDesk

Bitcoin and Ethereum are the two giants in the crypto space, with a combined dominance of >50%. Read on to find out more about their respective roles in the crypto space.

Check it out here .