Global crypto exchange Binance has launched a crypto card that allows refugees from Ukraine to make crypto transactions and receive funds through the Binance Visa Card.
Binance announced that it’s working with several entities, including European banking-as-a-service platform Contis and nonprofit organizations Rotary and Palianytsia, providing refugees affected by the Ukrainian conflict a way to send and receive funds and make purchases within the European Economic Area (EEA).
Apart from access to crypto transactions, recipients of the card who are verified by their local non-profit organizations will receive financial support from Binance in the form of Binance USD (BUSD). These users will get 75 BUSD per month for three months, the donation amount recommended by the United Nations High Commissioner for Refugees (UNHCR).
Helen Hai, Head of Binance Charity, told Cointelegraph that because the card is not a "commercial product," its main objective is to provide a functional payment instrument to receive and spend donations. Hai explained that this is an important way that the world can see how crypto can play a role in society.
“The whole world is able to observe the important role which cryptocurrency plays, and how it transforms our reality. It is cryptocurrency that plays a key role in raising vital funds and providing much-needed humanitarian assistance to Ukraine.”
Hai also noted that this is a good example of how crypto can be used not only as a means of transaction but also as a means of payment. Hai believes that crypto is a tool that has "no boundaries, restrictions, does not require documents and other complex and lengthy bureaucratic procedures, and is capable of producing results here and now."
Bitcoin (BTC) mining companies are further adopting green energy as the global Bitcoin mining industry increased its sustainable energy mix by approximately 59% year over year.
The Bitcoin Mining Council (BMC) is group of 44 Bitcoin mining companies claiming to represent 50% of the global Bitcoin network, or 100.9 exahash (EH). It released a new report on Monday April 25 with the findings. The group is also fronted by Bitcoin proponent and MicroStrategy CEO Michael Saylor.
The latest survey of BMC member companies questioned how much electricity their companies consumed, what percentage of that electricity is generated by hydro, wind, solar, nuclear or geothermal sources, and what the hash rate of their operations were.
The BMC estimates the global mining industry’s sustainable electricity mix for the top crypto is now 58.4% which is a fall of 0.1% from last quarter. Perhaps more importantly, it's significant growth from the 36.8% renewables estimated in Q1 2021.
Its worth noting however that the BMC only formed in June 2021, so it is not exactly clear how it formulated the 36.8% worth of renewables estimated in Q1 2021.
Data for the new report, which was self-reported from BMC members, showed they were utilizing electricity with a 64.6% sustainable power mix. The figures for global Bitcoin mining was estimated from the data from BMC members.
As told by Bored Ape Yacht Club (BAYC) developers on Monday, hackers breached the popular nonfungible token (NFT) collection’s official Instagram page and shared links to a fake airdrop with the project’s followers.
Crypto enthusiasts who connected their MetaMask wallets to the scam website were subsequently drained of their Ape NFTs. It appears that the attack was planned to coincide with the one-year anniversary of the launch of the BAYC collection, thus increasing the “perceived credibility” of the phishing link.
Unconfirmed reports on social media indicate that approximately 100 NFTs were stolen during the phishing attack. Based on data from CoinGecko, the floor price of each BAYC NFT is around 139 Ether (ETH), or $400,726. Thus, if the reports are authentic, more than $40 million worth of assets have been lost in the attack. However, the numbers may only represent the lower end of the estimate, as it is based on the floor price.
At the time of publication, it is unclear how hackers gained access to BAYC’s official Instagram account. While social media users point out the importance of two-factor authentication as an effective deterrent against unauthorized log-ins, others say that such methods are not entirely foolproof and can be, in fact, compromised via a SIM-card swap.
BAYC has grown to become an all-time favorite NFT collection in the crypto realm, generating more than $1 billion in sales in 2021. The collection’s supply is fixed at 10,000 NFTs. More than 38,748 ETH worth of Apes were traded on OpenSea in the past 30 days.
This Daily Dose was brought to you by Cointelegraph.