A lot happened in crypto this week with the beginning of the week seeing Coinbase sign its biggest federal contract to date with Homeland Security.
This comes at a time when Coinbase is facing some trouble with US authorities and specifically the US Securities and Exchange Commission (SEC) which has been struggling to produce a definition of whether token sales and various lending crypto products breach the country's security laws.
Yet, Homeland Security has been adamant that Coinbase seems best prepared to assist its Immigrations and Customers Enforcement (ICE) division in offering blockchain analytics. At the same time, Coinbase is reportedly looking for a way to establish clearer-cut regulation that benefits the crypto sector. The crypto exchange is supposedly going to pitch its own version of how cryptocurrencies should be regulated to US authorities.
Snoop Dogg reveals himself as NFT connoisseur
NFTs did make another headline this week because of Cozomo De' Medici, the previously anonymous non-fungible token collector who turned to be none other than American rapper Snoop Dogg.
Snoop was apparently getting a little fidgety that his identity would be uncovered and decided to break the news himself, following on a promise Cozomo De' Medici made on Twitter not so long ago, that his “identity would soon be known to all”.
Speaking of NFTs, the other big development this week was the tie-up between Dapper Labs, the company behind NBA Top Shot, and Spain's LaLiga. The partnership will seek to promote Dapper Labs brand to soccer fans, but also create dedicated NFTs that will be available to purchase through a specialized marketplace, similar to NBA Top Shot. The solution will use the well-known Flow blockchain.
Good and bad news for crypto frauds this week
While the world was pretty worried about crypto regulation, hackers managed to get into Bitcoin.org, the open-source site dedicated to its namesake currency, and launched a crypto scam that was quickly caught by community members who warned visitors not to send Bitcoin in the supposed giveaway hosted by the hackers.
Meanwhile, documents leaked on the Dark Web reveal that hackers may have been using a Chainalysis tool to check crypto addresses. A website that was available in the public domain may have been set up by the crypto security firm, knowing that hackers would probably use it and thus helping law enforcement track crypto criminals.