welcome back everybody to altacoin daily we have a lot to talk about today there's a lot going on in
cryptocurrency if you haven't already make sure you check out our interview with Mark Cuban and
the series of Clips we've released around it this is a great interview Mark Cuban provides a lot of
insight on cardano ethereum the cryptocurrency market as a whole and make sure you subscribe
because we'll be releasing other big interviews in the coming months let's get into the recent
news smash the like button of course the top story of the day is that the United States
of America is Waging War on privacy and privacy in cryptocurrency crypto mixing service tornado
cash has been blacklisted by U.S treasury the department barred use by U.S persons as a matter
of National Security because North Korean hackers allegedly used the mixer to launder stolen crypto
funds so let's not mince more words here they are Banning Americans the treasury Department is
Banning Americans from using decentralized crypto mixing service tornado cash this is a developing
story as more information comes out about this we will be reporting this to you this is what we
know thus far the U.S treasury Department today sanctioned tornado cash and ethereum coin mixing
tool in a Monday announcement so just hours ago they added this to its specialty designated
nationalists list Banning American citizens from using the tool or transacting with these addresses
if you're unfamiliar tornado cash is an app that lets users make private transactions on the
ethereum network it does this by pooling together cryptocurrency deposited by many users and mixing
them for transactions so they're more obscured the treasury Department's announcement listed a
number of ether addresses linked to the tornado cash community in including addresses where
people could donate funds so you're not allowed to do that according to Nason researcher Andrew
Thurman the list of banned addresses even include one belonging to get coin and ethereum-based
funding platform for open source projects why would they ban that that doesn't make sense
the treasury Department said that it took these measures because criminals had used tornado cash
to launder money quote today the U.S department of the Treasury Office of foreign assets control ofac
sanctioned virtual currency mixer tornado cash which has been used to launder more than seven
billion worth of virtual currencies since its Creation in 2019. the announcement added that
Lazarus group a North Korean state-sponsored hacking group used tornado cash to launder
over 96 million after it hacked Harmony bridge in June it also said the criminals used tornado cash
to launder 7.8 million stolen in last week's Nomad Bridge hack take a look at this chart tornado cash
monthly eth deposits since the very beginning of 2020. as you can see people using tornado cash for
privacy has only gone up it's only had increased users and increased money on this platform and
the fact that the government is shutting this down saying this is for our protection but doing this
blanket ban it's just this doesn't sit right with me I don't think that this is the way that the U.S
should go with their regulations the policy should be more nuanced than this and to take
away our privacy claiming it's for our protection like this I don't agree with let me know what you
think in the comments below let's take a look at some other stories because it's important
to realize that the us is going this way or that way I mean I think that the US what they've been
doing the past couple years is positive for crypto they could be doing a lot more but it's important
to realize that unlike the.com bubble of the 90s which was primarily a U.S thing confined
to accredited investors cryptocurrency is a global thing it is a cultural phenomenon around the world
kids in Bangladesh are buying coins and crypto is moving up and to the right when you look at
it on a global level I'm not talking about price even I'm talking about adoption check out some of
these next stories crypto.com expands into South Korea via two new acquisitions seeing the future
in crypto markets crypto.com recently unveiled an acquisition plan for expanding to South Korea as
many industry players look to recover from Hefty losses crypto.com is turning to greener pastures
in South Korea on Monday the singapore-based crypto platform announced the acquisition of these
two companies a payment provider and a digital asset exchange respectively according to Bloomberg
this means that crypto.com has also secured a deal with the economic financial transaction
act an act that creates quote Foundation for the sound development of the electronic financial
industry end quote as well as the right to act as a virtual asset service provider and
this is something they're getting their ducks in order to provide crypto services not just this
year or next year but for the next decade right now while it's unclear if these approvals and
Acquisitions will require further regulation it is a step forward bringing more official approval
and security to the industry and to South Korean users but wait there's more speaking
about cryptocurrency adoption around the world the number of cryptocurrency ATMs installed worldwide
basically is a hair away from 40 000 worldwide and to understand why this is a big deal you have to
understand where we came from were you around in 2017 when there are less than a thousand
this week the number of cryptocurrency automated teller machines ATMs operating
worldwide has surpassed the 39 000 Mark since January 2017 when the count was approaching 1
000 machines the number of crypto ATMs has grown by almost four thousand percent since then crypto
ATM numbers saw exponential growth during the last 23 months since September 1st 2020 when there were
less than 10K machines worldwide and obviously the takeaway is that crypto is just blowing up
and it is becoming ubiquitous in the world this is the chart of crypto ATMs since 2014 actually and
you can see 2017 less than a thousand and this is us today and these are the top coins supported on
ATM machines Bitcoin of course Litecoin ethereum Doge B cash Z cash tether Dash Monero Ripple and
lightning Bitcoin interesting to note hey this is what I like to see hey this is what I like
to see Bitcoin and ethereum look set to break out I agree with this do you agree with this Bitcoin
and ethereum appear to be gaining traction after a bullish start to the week so why are we saying
this Bitcoin has gained over 1 000 in market value early Monday meanwhile ethereum saw its
price jump above 1800 so these are little pumps which I think are pretty meaningful we're getting
this base level here and I think the technicals and fundamentals now point to further gains on
the horizon listen everybody has become so accustomed to down only that they're trying
to fade this little pump we've seen well I don't think this is the beginning of a new full-blown
bull run a return to 28 000 Plus for Bitcoin is programmed I'll be surprised if we don't see 3K
eat pre-merge as well I would Bitcoin lightning Network as in Bitcoin layer 2 all-time highs as
far as capacity Bitcoin lightning network capacity just hit an all-time high Coca-Cola has partnered
with eth sidechain layer 2 polygon to launch a generative nft collection Coca-Cola doing this
it's it's pretty cool big chain link news Big Chain Link news now chain link the marketing
team I guess or the integration Partnerships team seemingly have been quiet for the past few
months but they have something big coming up if you're a chain link holder you need to know about
this chain link staking a new chapter in the link economy first of all what is chain link chain link
is a decentralized known Network that provides data and information from off-chain sources to
blockchain Smart contracts via oracles when a smart contract needs to Source external data
such as bitcoin's price and USD it can request it from chain Link's Oracle Network when a contract
makes a request eligible oracles provide answers and then a chain link aggregation contract takes
all the data from the oracles and reconciles it for an accurate result oracles are then
rewarded with link tokens for their effort so this is chain link I think we knew that staking
is coming up what do we need to know here to shore up the security of chain Link's Oracle
Network its developers plan to implement a staking system similar to those found in proof of stake
blockchains after staking is implemented nodes will have to lock up link tokens as collateral
which can be taxed or slashed if a node misreports data the link tokens slashed from
dishonest validators will then be redistributed to honest validators that's a pretty good incentive
I'd say and overall the updates could make chain link more secure more decentralized
and potentially sparking renewed interest in the project to get those rewards make sure you
check out our interview with Mark Cuban the full interview or the clips and subscribe because over
the next few months we will be releasing more great interviews with notable people on Cuban's
level and of course the Daily News and opinion content in general see you tomorrow friends