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Robinhood Discusses Crypto Wallet Launch and Listing Strategy as Petition to List Shiba Inu Exceeds 526K Signers

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The chief operating officer (COO) of Robinhood Crypto has provided an update on the company’s upcoming cryptocurrency wallet launch. The executive also discussed Robinhood’s listing strategy in response to the question of whether the platform will list shiba inu (SHIB) cryptocurrency.

Robinhood Crypto’s COO Discusses Listing Strategy as Petition to List SHIB Gains More Supporters

Christine Brown, Robinhood Crypto’s COO and VP of Product Operations, talked about her company’s crypto strategy at a conference Tuesday held by Yahoo Finance and Decrypt. She also provided an update on Robinhood’s upcoming crypto wallet launch.

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Replying to a question about whether Robinhood will list shiba inu (SHIB) and what the considerations are for adding the meme cryptocurrency, the Robinhood Crypto COO noted: “When it comes to our strategy of what we are going to list, the first thing is that we’re not going to talk about it. So I’m not going to break that news here, unfortunately.” She elaborated:

But I also think our strategy is a little bit different than a lot of other players out there who are just racing the list as many assets as possible right now.

“We think that the short-term gain that we might get is not worth the long-term trade-off for our users,” she clarified. “We want to make sure we are working and assessing everything from a regulatory perspective very well. And we are a safety-first company so that’s how we’re going to play it.”

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Many shiba inu crypto supporters have been asking Robinhood, “When SHIB?” A petition on Change.org urging the trading platform to list the meme crypto has received more than 526K signatures at the time of writing.

Commenting on the prospect of Robinhood listing SHIB in particular, Brown opined:

One of my favorite things is seeing the community around these coins really engage with us, really let us know what they want.

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Crypto Wallet Launch, Q3 Earnings, and Crypto Investing Strategy

Brown also shared some news about the upcoming crypto wallet launch Robinhood recently announced. Robinhood’s crypto wallet will allow its users to move supported cryptocurrencies in and out of their brokerage accounts. Noting that it has been “a few weeks” since the announcement, the COO revealed: “We are currently at a waitlist of 1.6 million users who are waiting for this product.”

She detailed: “We are actively in our alpha so we do have users we are onboarding who are actually getting access to this product today, right now. But we are moving slowly, precisely because we are a safety-first company. We want to build features that have the right security in mind with our users and what they’re going to be doing.”

The COO shared some details of what the company is working on behind the scenes for the wallet over the last few months. “Things that we’re doing, we’re building MFA [multifactor authentication] in-app, so we know … you’re actually initiating a transfer. We’re adding checks on transactions to kind of see what wallet they’re going to, make sure that they’re safe or low risk. And that’s one of the reasons why it’s going to take us a little bit longer to roll this out.” Nonetheless, Brown confirmed:

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We are still on track for a Q1 general availability, late Q1.

Robinhood recently reported its third-quarter earnings results showing transaction-based revenue from cryptocurrency trading of $51 million compared to $233 million in the second quarter. About 40% of its cryptocurrency transaction-based revenue was attributable to transactions in dogecoin (DOGE).

While the platform’s crypto transaction-based revenue fell in Q3, Brown pointed out that “Year-over-year, we are still up 800%,” emphasizing, “The retail market is cyclical so we are going to see up, we are going to see down, we should be ready for that.”

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She also commented on the opinions of some crypto skeptics claiming that crypto investing is either “crazy or stupid.” Brown noted:

57% of Americans, the majority of Americans, have a long-term outlook on crypto. It’s not people that are just getting in and gambling and wanting to see a quick pop.

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Will Newegg Accept Shiba Inu? Mysterious Tweet Reignites Rumors

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Shiba Inu hodlers are trying to wrap their heads around a mysterious tweet posted by the token’s official Twitter account

The Shiba Inu community has been bewildered by the #friendshib hashtag posted by the official Twitter account of the meme cryptocurrency.

It is accompanied by the egg emoji, which might be hinting at a potential partnership with electronics retail giant Newegg, according to some SHIB hodlers.  

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The same tweet was posted by lead developer Shytoshi Kusama, fueling anticipation within the community. Both tweets have generated more than 9,000 likes at the time of writing along with thousands of replies.  

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As reported by U.Today, Newegg tagged both accounts last Saturday, prompting rumors about possibly adding SHIB as a payment option.      

The official account of the Shiba Inu token posted a 16-second teaser that shows a set of lightbulbs gradually lighting up on Thursday. The community started speculating that this could be related to a potential partnership.

Notably, the video clip also displayed a logo that seemingly combines “W” and “V.”

On Thursday, Kusama tweeted that he would publish a Medium blog post about Shiba Inu Games and announce a consultant who would work with the game studio. 

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Some have suggested that it could be William Volk, former vice president of American video game publisher Activision, based on his initials. The fact that Kusama follows him on Twitter made the rumor more plausible. 

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Shiba Inu Community Puzzled by Mysterious Twitter Hashtag. Is New #Friendshib on the Horizon?

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Shiba Inu hodlers are trying to wrap their heads around a mysterious tweet posted by the token’s official Twitter account

The Shiba Inu community has been bewildered by the #friendshib hashtag posted by the official Twitter account of the meme cryptocurrency.

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The hashtag in question was also posted by lead developer Shytoshi Kusama, fueling anticipation within the community. Both tweets have generated more than 5,000 likes at the time of writing. 

As reported by U.Today, the official account of the Shiba Inu token posted a 16-second teaser that shows a set of lightbulbs gradually lighting up. The community started speculating that this could be related to a potential partnership.

Notably, the video clip also displayed a logo that seemingly combines “W” and “V.”

On Thursday, Kusama tweeted that he would publish a Medium blog post about Shiba Inu Games and announce a consultant who would work with the game studio. 

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Some have speculated that it could be William Volk, former vice president of American video game publisher Activision, based on his initials. The fact that Kusama follows him on Twitter made the rumor more plausible. 

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Tech Savvy Crooks Are Stealing Millions in Bitcoin, Ethereum and Shiba Inu Through YouTube Live: Report

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Scammers are using compromised YouTube accounts to steal millions of dollars in crypto from unsuspecting viewers, according to a new report.

The cybersecurity firm Tenable says digital thieves are employing a savvy blend of fake celebrity endorsements and trending cryptocurrencies to reap illicit gains through fake giveaway events.

Analyst Satnam Narang says the scammers are utilizing YouTube Live to create supposed live streams that in actuality broadcast pre-recorded, ripped-off and manipulated content.

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“To promote the fake cryptocurrency giveaways on YouTube, scammers follow a very basic templated approach… Each video contains a section that features an unrelated interview involving notable [crypto] figures…

The videos contain a section that features the URL for the so-called event or giveaway. This section is not clickable, which means the user has to manually type in the URL to reach it.”

Once the viewer visits the scammers’ website, they are asked to send funds to a crypto address and told they will later receive double their money or more in return.

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The crooks are stealing popular crypto assets including Bitcoin (BTC), Ethereum (ETH) and popular memecoin Shiba Inu (SHIB).

Narang says that in a recent month-long survey of YouTube Live scams, he counted at least $8.9 million in fraudulent activity.

The report goes on to explain how familiar faces are ideal to use as bait when luring in victims.

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“Scammers recognize that users place a lot of trust in influential voices. Combined with the plethora of existing interview footage featuring many of these notable figures, scammers have developed a formula that adds legitimacy to their efforts and has continued to work for years.”

The report notes that an important aspect of running a successful scam is to take over an existing YouTube account that already has a large subscriber base. This leverage provides an air of legitimacy and increases the likelihood that a significant number of people will encounter the video.

The presentations are designed to be slick and professional, such as this fake Elon Musk/SHIB promotion.

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Source: Tenable

Tenable notes that after Musk’s appearance on popular late-night comedy show Saturday Night Live back in May, hackers made off with over $10 million via fake crypto giveaways.

In response to the proliferation of fraud on its platforms, Google’s Threat Analysis Group recently posted a wide-ranging report called “Phishing campaign targets YouTube creators with cookie theft malware.”

The section about crypto fraud states,

“A large number of hijacked channels were rebranded for cryptocurrency scam live-streaming. On account-trading markets, hijacked channels ranged from $3 USD to $4,000 USD depending on the number of subscribers.”

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