In today’s bitcoin and cryptocurrency news, discover that in 2023, Google will let select customers pay for cloud services with cryptocurrency. Google will partner with Coinbase to implement this update. Meanwhile, consumers say they were duped into downloading a malicious Solana Phantom update via email that promised them greater protection. Lastly, the overall value of the cryptocurrency market increased by $3.27 billion due to net inflows. The market capitalization of the sector as of press time was $923.89 billion, up 0.50% from the previous trading day.
Some Google Cloud Customers Can Pay With Cryptocurrency
Original Source: Google to Let Some Customers Pay for Cloud Services With Cryptocurrency
Google revealed at its Cloud Next conference on Tuesday that it will start accepting cryptocurrencies for cloud services in 2023. Google will update with Coinbase, a cryptocurrency exchange platform. In the partnership, Coinbase will employ Google Cloud’s computer capacity to scale blockchain records. Coinbase will use Google’s machine learning to inform customers about crypto developments. The platform will progressively switch from Amazon Web Services to Google Cloud after several years.
Google will use Coinbase Commerce to trade and store cryptocurrencies, letting Cloud customers pay in certain tokens. Google will employ Coinbase Prime (their premium offline crypto storage) for secure custody and reporting in the future. Behind the scenes, Coinbase takes a percentage of each crypto transaction. Neither Google nor Coinbase said which cryptocurrencies will be accepted, although Coinbase Commerce helps businesses accept and convert Bitcoin, Dogecoin, Ethereum, USD Coin, and Tether USD.
As for who can pay in crypto next year, that’s unknown. In an interview with CNBC, Google Cloud VP and platform head Amit Zavery claimed the service “will accept cryptocurrency payments from a handful of Web3 clients who want to pay with bitcoin.” Whether this “handful” is chosen randomly or based on internal criteria is unknown.
Google has recently made various steps to invest in crypto. Research firm Blockdata found that Google’s parent company Alphabet funded the most in blockchain firms between September 2021 and June 2022. On its own, this is dull. Tech businesses like Samsung, PayPal, and Microsoft followed closely, likely to improve their own products. As Google has decided, it’s handy to use a digital wallet to pay for digital services.
The most popular cryptocurrency, Bitcoin, is down 59% for the year, hurting the blockchain. Not only are cryptocurrencies not immune to the budgetary difficulties afflicting the rest of the world, they’re still mostly speculative, leaving them subject to macroeconomic pressures, said a Cornell University economics professor. Combine that with Ethereum’s recent conversion to the less environmentally damaging proof-of-stake and you have a volatile system on your hands. Despite this, Google is all-in. This is a brave move; let’s see if it pays off.
Hackers Fake Solana Phantom Updates to Steal Cryptocurrency
Original Source: To steal cryptocurrency, hackers create phoney Solana Phantom updates
Consumers say scammers emailed them a new Solana Phantom security update.
According to a recent source, the scam began two weeks ago when Phantom users received “PHANTOMUPDATE.COM” or “UPDATEPHANTOM.COM” NFTs. They were told to open an attachment or visit a website to download and install a security update.
Airdropped NFTs were abused by criminal actors to install password-stealing malware, which they used to steal money from wallets.
A batch file called “Phantom Update 2022-10-08.bat” was downloaded when a victim chose one of the two options. Users were routed to windll32.exe after accepting the terms. However, VirusTotal alleges that feature is password-stealing malware that steals cookies, history, and passwords from browsers.
People with this ransomware should conduct an antivirus scan and then transfer their assets from their old Phantom wallet to a new one. They must also change passwords on all cryptocurrency websites.
The hackers wanted to access bitcoin wallets using passwords to steal digital assets.
The best solution may be to use a fresh password for each website to prevent credential breaches between databases.
Phantom Wallet Turned Into Unicorn
Despite the fraud, Phantom, a Solana, California-based bitcoin wallet, had a prosperous year in 2022. Eight months ago, Andreessen Horowitz (a16z) and Paradigm spearheaded a $109 million funding attempt to boost its market valuation to $1.2 billion.
The Phantom team is excited to work with these great partners and have their support as we make Web3 more broadly available. The increasing adoption of NFTs and DeFi has shown the importance of crypto wallets in providing a secure, pleasurable, and straightforward user experience, the project said at the time. Users can now transact with cryptocurrencies and NFTs on any Android smartphone thanks to Solana’s mobile app. Phantom had the app on iOS.
Dogecoin, Ethereum Rise as Market Recovers
Original Source: CryptoSlate Daily wMarket Update – Oct 11: Dogecoin, Ethereum up as market posts slight recovery
The whole cryptocurrency market cap experienced net inflows of $3.27 billion. As of press time, the industry’s market cap was $923.89billion, up 0.5% over the last 24 hours.
Bitcoin’s market cap rose 0.45% over the reporting period to $367 billion from $366.19 billion. Ethereum’s market cap increased 1.43% to $159.16 billion from $157.19 billion.
Some of the top 10 cryptocurrencies saw slight gains in the last 24 hours. Dogecoin led the comeback with a 2.18% gain; Ethereum is second with 1.40%. Polygon led the decliners, falling 1.26%.
Tether’s (USDT) market cap over the last 24 hours was $68.41 billion. BinanceUSD (BUSD) market cap remained flat at $21.6 billion. The USD Coin (USDC) market cap dipped to $45.95 billion.
Bitcoin Bitcoin rose 0.43 percent in 24 hours to $19,133 as of press time. Its market dominance was 39.73% over the reporting period.
BTC mostly traded sideways in the last 24 hours. The flagship digital asset peaked at $19,241 and bottomed at $18,925.
Ethereum
Ethereum’s price gained 1.35 percent in 24 hours to $1,296 as of press time. Its market dominance rose to 17.23% from 17.08%.
ETH’s performance mirrored that of BTC, as it traded sideways. The second-largest crypto asset by market cap peaked at $1,298 and bottomed at $1,272.
Top 5 Gainers
Terra LUNA is the day’s largest gainer, up 25.33% in the last 24 hours to $3.04 as of press time. The new Terra blockchain’s value grew owing to community activities. Its market cap was $386.78million.
Huobi Token HT gained 23.83% over the reporting period to $6.51 as of press time. Its positive performance was boosted by the recent takeover of its parent company, Huobi Global. Its market cap was $1 billion.
Hedera HBAR is up 8.43% in the last 24 hours to $0.06231 at press time. The crypto project is up over 8% in seven days. Its market cap was $1.45 billion.
Convex Finance CVX gained 3.2% in the last 24 hours to trade at $5.72 at press time. The DeFi protocol’s value is up 6.88% in 30 days. Its market cap was $387.42 million.
Casper CSPR rose 2.8% in the past 24 hours to $0.035 at press time. Its market cap was $367.62 million.
Top 5 Losers Terra USD
USTC is the day’s biggest loser, down 10.21% in the last 24 hours to $0.048 as of press time. The failed algorithmic stablecoin has lost its gains from earlier in the week. Its market cap was $433.08 million.
ApeCoin APE plunged 8.7% to $4.70 as of press time. The digital asset has fallen since news of the SEC’s investigation into its parent company emerged. Its market cap was $1.45 billion.
Stellar XLM fell 5.66% over the past 24 hours to $0.1163 at press time. XLM is down 2.7% over the past week. Its market cap was $2.98 billion.
Klaytn KLAY fell 3.42% in the past 24 hours to $0.1722 at press time. The user-friendly blockchain native token’s market cap was $530.53 million.
Uniswap UNI lost 2.96% of its value in the last 24 hours to $6.156 at press time. The token lost 7.48% over the last 30 days. Its market cap was $4.69 billion.
Summary of today’s Bitcoin and Cryptocurrency news
To put it simply, you have a somewhat unstable system on your hands when you add in outliers like Ethereum’s recent switch to the less environmentally damaging proof-of-stake (a move that has sent the coin’s price down 65%). Still, Google seems to be fully committed. It’s risky, but we should try it out and see whether it works.
Meanwhile, this spring, the Solana-based wallet released a mobile version, allowing users to transact with cryptocurrencies and NFTs on any Android-powered smartphone. For iOS, Phantom had already launched the service. Cybercriminals fabricate fake bitcoin transactions in order to steal the real thing. Phantom Solana latest developments
Lastly, the overall value of the cryptocurrency market increased by $3.27 billion due to net inflows. The market capitalization of the sector as of press time was $923.89 billion, up 0.50% from the previous trading day. Over the period under review, Bitcoin’s market cap increased by 0.45%, from $366.19 Billion to $367 Billion. The value of Ethereum rose from $157.19 billion to $159.16 billion, a gain of 1.43%.
