🔴 R.I.P. McAfee | This Week in Crypto – Jun 28, 2021

John McAfee reportedly found dead, $3Bn stolen
from an African crypto exchange and salvadorians to receive free Bitcoins. These stories and more
this week in crypto. Hi, I’m Nate Martin
from 99Bitcoins.com, and here’s what’s happened
this week in crypto. John McAfee—the anti-virus mogul and bitcoin bull—has allegedly
committed suicide in prison. McAfee was serving time
in a jail cell in Barcelona, Spain while awaiting extradition
to the United States on tax evasion charges. McAfee was known for making boisterous
bitcoin price predictions, including one where BTC would hit
$1 million by the year 2020.

Nearly $3.6 billion in digital funds
have been wiped from Africrypt, a digital currency exchange in Africa, making it the biggest crypto heist
in history. The company’s founders
are being blamed for the loss, as they reported a hack a few weeks ago and then told its customers not to
report the hack to law enforcement, claiming it would interfere
with their own investigation. El Salvador will give each
of its residents $30 in bitcoin as a means of inspiring usage. In addition, the country is creating
its own digital wallet known as “Chivo,” which is slang for “cool”
in the nation’s language. El Salvador’s president is confident
the move will boost investments and give way to easier remittance payments. U.S. cryptocurrency exchange Coinbase
is entering the Japanese market with a subsidiary registered with
the country’s Financial Services Agency. Coinbase will begin by offering
five major cryptocurrencies with more to follow. The task of complying with Japan’s
strict crypto regulatory regime is not without its payoffs as it is one of the largest regions
for trading in the world.

South African entrepreneur Elon Musk
and Square CEO Jack Dorsey will meet at an event known as
“The B Word” to talk about Bitcoin. The conversation will occur on July 21 and will be one of several special features
of the event that will enable a more informed discussion about the role Bitcoin can serve
for institutions. Stronghold Digital Mining in Pennsylvania has received more than $100 million
in new funding to establish a more environmentally
friendly crypto mining farm. The company has said it will use waste coal
to power its machines. Waste coal has wreaked havoc
on local environments, and the mining efforts should help
with its cleanup while lowering emissions. Disney-owned Marvel Entertainment
announced that it will launch its first official NFTs. The digital collectibles
will take the form of 3D models that can be viewed on a smart device,
in virtual reality, or even augmented reality. NFTs serve as a deed of ownership
and can be authenticated via a blockchain. Auction house Sotheby’s
is selling a 100 carat, pear-shaped diamond and people can bid on the item
with cryptocurrencies like bitcoin.

The diamond—which is valued
at more than $10 million— marks a “truly symbolic moment” in that it will be the first physical item
of that value sold with the inclusion of crypto in the event. That’s what’s happened
this week in crypto, see you next week. If you've enjoyed this video,
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