Cardano to Get First USD-Backed Stablecoin by 2023, With New Privacy Blockchain and Token

Cardano will finally have its own fiat-backed stablecoin after one of its founding entities, EMURGO, announced that the USDA stablecoin will launch on the proof-of-stake network in the first quarter of 2023. The US Dollar will fully back the stablecoin to ensure that it provides long-term price stability

Cardano NFTs touted as next gold rush after ‘Ford Edwards’ sells for $65,000

The “Ford Edwards” belongs to The Ape Society Collection, recently launched by anonymous developers Cardman, Congo, and Matasa. The holder’s husband posted a video of the sale going through, including his reaction when a bug prevented confirmation of the sale. After discovering the issue, a representative from jpg. store said engineers will “squash the bug.”

Inspired by Ethereum’s Bored Ape Yacht Club, The Ape Society also intends to develop a community via holder access to “unique benefits, events, and more,” including rights in the community-run Decentralized Autonomous Organization (DAO). The Class trait is integral to the collection’s background story, which details a fictional tale set “long ago” in a world of “unrefined, barbaric apes.” In this chaotic world, an ape who called himself Giambuono de’ Medici wanted unity and cooperation between apes.

Fake Cardano Wallet Phishing for New Bait on App Store

Crypto-focused phishing attacks have made their way to Apple’s App Store. 

Scams related to crypto wallets are on the rise, and users report a phishing application for mobile devices masquerading as Nami Cardano wallet designed to steal seed phrases and funds.

The fake wallet was found on Apple’s App Store and is still available for download. If a user enters the seed phrase, the app steals the data and sends it to app developers, thereby giving direct access to ADA held on the actual browser-based Nami wallet.

  • For the uninitiated, Nami is a legitimate non-custodial browser extension wallet for the Cardano blockchain.
  • The platform had earlier pinned a tweet clarifying that they do not have a Telegram channel or a web wallet.

“Beware of scams! Nami does not have a telegram channel nor do we have a web wallet. We do ONLY have a chrome extension. Also all support messages here on Twitter are scams and fakes. @NamiWallet is the only official account.”

Cardano (ADA) Leap-Frogs XRP to Become Sixth Largest Crypto by Market Cap

Cardano (ADA) flips XRP to become the seventh-most valuable cryptocurrency by market capitalization. The price of ADA soared 5.4% in 24 hours, about a week after Cardano founder Charles Hoskinson announced that the Vasil hard fork would take place on Sep. 22, 2022. Speaking on a live stream on Aug. 26, 2022, Hoskinson said the release date would depend on the readiness of exchanges. However, in the past, exchanges followed through expediently after a hard fork announcement. Approximately 80% of the exchanges holding ADA liquidity are ready for the upgrade. The top ten decentralized apps by total value locked have already upgraded to version 1.35.3 of the Cardano Vasil code, which is the latest version.Web3GrandPappa

Muse’s Will Of The People becomes first UK number one album with NFT technology

Muse has made history with their ninth LP Will Of The People, marking the UK’s first number 1 album to incorporate NFT technology. It is the first full-length record containing NFT (non-fungible token) elements to make the top spot, and the first new format to be added to the official albums chart since it began counting streaming data in 2015. A fairly recent craze from the cryptocurrency world, NFTs are unique digital assets that exist on a blockchain and cannot be replicated. For clarification, if something is fungible, it is interchangeable with another good or asset – non-fungible means it is not.#Web3GrandPappa #MimeXMime

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Thodex crypto exchange’s CEO arrested for allegedly defrauding investors of $2.7 billion

The founder of Turkish cryptocurrency exchange Thodex Fatih Özer has been arrested in Albania following his 2021 disappearance with funds belonging to roughly 400,000 users. Following the arrest, extradition procedures have been initiated by the Interpol Department of the General Directorate of Security, Turkey’s Interior Ministry said in a statement published on August 30.

Özer is accused of disappearing with about $2.7 billion in user funds back in April 2021, when Thodex was considered one of the largest crypto trading platforms in the country. The exit scam was initiated at a period when Bitcoin (BTC) and the general crypto market were experiencing a bull run. Notably, before Özer’s disappearance, the exchange had halted the ability of customers to withdraw their funds with the platform offering no concrete information.#web3grandpappa

Most Acala Services Still Offline Twelve Days After Attack

Acala is still attempting to restore operations more than a week after suffering an exploit that collapsed its stablecoin. The project said today that “many of the services have been paused… including XCM transfer out.” This means that cross-chain transfers between Acala and other Polkadot parachains are not currently available.

Various other services are also non-functional. Users cannot transfer most tokens, use bridge services, mint the aUSD stablecoin, perform token swaps, use instant unstaking, or engage with the protocol’s various earn features. Only three services are operating normally. The first active service concerns basic on-chain transactions that involve the project’s native ACA token. The other two operational services concern staking: both liquid DOT staking and normal unbound period unstaking are operating as normal.

Hoskinson shuts down talk of ‘hush-hush culture’ over stalled Vasil upgrade

Hoskinson spoke out after developer Adam Dean publicly said the Vasil testnet is “catastrophically broken.” Meanwhile, Sebastien Guillemot shed light on his company culture experience and said Cardano devs are muzzled when talking about development roadblocks.#Web3GrandPappa #togrp7 #mimeXmime

Mark Cuban: Dogecoin (DOGE) Has More Applications Than Cardano (ADA) #TOGRP7

Billionaire investor Mark Cuban believes that while the opportunity for Cardano as a smart contract platform may be greater, Dogecoin still has more potential applications for the time being. At press time, Cardano had a market cap of $17.8 billion, while DOGE had $9.2 billion, according to CoinMarketCap data. Blockchain-based cryptocurrency projects are still a business, Cuban said, no matter how they are positioned or how high their market cap is. After assessing the number of transactions on the Cardano blockchain, Cuban said he failed to see any great impact from the cryptocurrency.#TOGRP7