CNET: What is an NFT? Everything to know about the expensive digital tokens taking over cryptocurrency

CNET: What is an NFT? Everything to know about the expensive digital tokens taking over cryptocurrency. “Nonfungible tokens, or NFTs, are a new kind of collectible that could — or could not — earn you big bucks. NFTs began in 2017 and became the new craze faster than any other cryptocurrency you may have heard of. But you can’t keep NFTs in your dresser drawer, like Pokemon cards, a comic book or paintings. They’re entirely digital and are tied to almost anything — a video highlight, a meme or even a tweet. If this doesn’t make much sense to you, well you’re not alone.”

Ubergizmo: Hacker That Stole $600 Million In Cryptocurrency Has Returned All Of It

Ubergizmo: Hacker That Stole $600 Million In Cryptocurrency Has Returned All Of It. “As some of you might have heard, about $600 million worth of cryptocurrency was stolen from the Poly Network not too long ago. However, in an interesting twist, the hacker who stole it returned half of it. Some speculated that it was due to the difficulty of unloading stolen crypto, while the hacker claimed that it was always their intention to return it. That being said, an update from Poly Network has revealed that the full amount that was stolen has since been returned to them.”

New York Times: Facebook says it wants a ‘fair shot’ in the crypto payments sphere.

New York Times: Facebook says it wants a ‘fair shot’ in the crypto payments sphere.. Doesn’t Facebook just buy its fair shots? “Facebook’s mission is to ‘bring the world closer together.’ Increasingly, that’s about not just connecting friends and family to share messages, but also serving as a platform for people’s financial lives.”

Gizmodo: This Crowdsourced Ransomware Payment Tracker Shows How Much Cybercriminals Have Heisted

Gizmodo: This Crowdsourced Ransomware Payment Tracker Shows How Much Cybercriminals Have Heisted. “The way it works is Ransomwhere keeps a running tally of ransoms paid out to cybercriminals in the bitcoin cryptocurrency. This is largely made possible because of the transparent nature of bitcoin: All transactions involving the cryptocurrency are recorded on the blockchain, a decentralized database that acts as a public ledger, thus allowing anyone to track any transactions specifically associated with ransomware groups.”

Counterpunch: Turning Memes into Money in El Salvador

Counterpunch: Turning Memes into Money in El Salvador. “On June 5, President Nayib Bukele announced his plans to make El Salvador the world’s first country to accept Bitcoin, a popular digital cryptocurrency, as a form of legal tender. The nation’s legislative assembly, under the majority control of Bukele’s New Ideas party, passed the bill just three days later. Under the new legislation, Bitcoin must be accepted as payment by all private firms and by the nation’s tax authorities. The move puts El Salvador into uncharted territory, posing serious risks that likely outweigh any potential benefits.”

Nikkei Asia: Does China plan an even tougher cryptocurrency crackdown?

Nikkei Asia: Does China plan an even tougher cryptocurrency crackdown?. “The three industry organizations — the National Internet Finance Association of China, the China Banking Association and the Payment & Clearing Association of China — said a number of actions involving cryptocurrency trading are unlawful…. The joint statement also informed investors of risks associated with cryptocurrency transactions, including fictitious assets, business failures and speculation.”

Motherboard: People’s Expensive NFTs Keep Vanishing. This Is Why

Motherboard: People’s Expensive NFTs Keep Vanishing. This Is Why. “Last month, Tom Kuennen, a property manager from Ontario, coughed up $500 worth of cryptocurrency for a JPEG of an Elon Musk-themed ‘Moon Ticket’ from DarpaLabs, an anonymous digital art collective. He purchased it through the marketplace OpenSea, one of the largest vendors of so-called non-fungible tokens, or NFTs, in the hopes of reselling it for a profit. ‘It’s like a casino,’ he said in an interview. ‘If it goes up 100 times you resell it, if it doesn’t, well, you don’t tell anyone.’ He never got the chance to find out.”

Coingeek: Token-based social media BitClout raising lots of money—and eyebrows

Coingeek: Token-based social media BitClout raising lots of money—and eyebrows. “A new digital currency project has recently hit the market, launching out of private beta on March 24. Known as BitClout, it has managed to raise hundreds of millions in funding from some of the most prominent venture capital firms. However, it’s also raising eyebrows, and now, faces a cease and desist order.”

Washington Post: What is an NFT, and how did an artist called Beeple sell one for $69 million at Christie’s?

Washington Post: What is an NFT, and how did an artist called Beeple sell one for $69 million at Christie’s?. “Using the same principles behind cryptocurrencies such as bitcoin, NFTs allow people to claim ownership over specific digital files, be they songs, videos or static images. Beeple, whose real name is Mike Winkelmann, is the latest beneficiary of a rush into NFTs that’s a side effect of the fast-growing interest in digital currencies and the technology behind them.”

Opelika-Auburn News: Two Auburn teens figure out how to convert unused computing power into charitable donations

Opelika-Auburn News: Two Auburn teens figure out how to convert unused computing power into charitable donations. “John Stanwick, a senior at Auburn High School, and Camp Steiner, an Auburn High alumnus who graduated last year, are doing their part to help save the environment with the help of Charitas.co, a nonprofit company and computer program they created that uses cryptocurrency to fund nonprofits around the world.”