Daily Crypto Report

"Facebook's Diem Pivots " May 14, 2021

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Today’s blockchain and cryptocurrency news

Brought to you by ungrocery.com

Bitcoin is down .5% at $50,625

Ethereum is up slightly at $3,999
and Binance Coin is down slightly at 606.

Dogecoin up 29%

Polygon up 24%
Ethereum classic, up 21%

Facebook’s Libra project pivots to Diem, pivots back to the US, and pivots to a USD stablecoin.

The IRS warns that the agency can seize people’s crypto assets to settle unpaid taxes.

DeFi protocol xToken exploited for $24.5M.

The Colonial Pipeline paid the $5M crypto ransom soon after the attack.

Links:

  • IRS Seizing Crypto Assets to Pay Off Tax Debts, Official Says
  • Colonial Pipeline Paid Hackers Nearly $5 Million in Ransom - Bloomberg
  • Attacker uses flash loans in $24.5 million exploit of DeFi protocol xToken
  • xToken on Twitter: "Our initial report on today's exploit. More details in the coming days. https://t.co/ZadHCUTqEK" / Twitter
  • Diem Announces Partnership with Silvergate and Strategic Shift to the United States

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