Many DeFi projects allow whales owning a diversity of governance tokens to dominate their voting process. A Dutch soccer club has partnered with a cryptocurrency trading platform that will pay them in Bitcoin.
In the city of Frisco, in Texas, United States, two siblings make money for mining cryptocurrencies in the garage of their house. According to the Dallas News, Aanya Thakur and her brother Ishaan, aged 9 and 14, earn USD 32,000 a month for mining Ethereum.
At first, they made about USD 100 from a lemonade stand in front of their house.
The idea of mining cryptocurrencies came from their father, who told them about it in February. As the price of those assets rose, the Frisco duo decided to make money for mining Ethereum.
Ishaan told the Dallas News that they wanted to invest in cryptocurrencies but did not have the money to buy Bitcoin. For that reason, they bought the mining equipment instead.
In March, they began mining with an old gaming computer, making USD 1,000 in the first month. In July, they earned more than USD 32,000 with this activity.
The siblings revealed that they use the proceeds to purchase more mining equipment for their company. Since Bitcoin was too competitive, they chose to mine Ethereum.
Vitalik Believes Decentralized Token-Based Governance Hurts DeFi
Ethereum co-founder Vitalik Buterin has dived deep into decentralized token-based governance. That suggests that current voting mechanisms are flawed and could be holding back the potential of the decentralized finance (DeFi) sector.
Buterin stated that the crypto community needs to move beyond currently existing coin voting.
Most DeFi projects update their protocols, issue rewards, and execute other facets of governance elections. The distribution of votes among token holders depends on the size of their shares.
However, many projects have received criticism as whales owning many governance tokens dominate their voting process. That allows them to vote in support of personal interests.
PSV Eindhoven Football Club Will Accept New Bitcoin Sponsorship Agreement
The soccer ecosystem has intensified adoption as more clubs include cryptocurrencies in their core operations.
Top-tier Dutch soccer club PSV Eindhoven partnered with a local cryptocurrency trading platform. It will pay the club an undisclosed amount of Bitcoin (BTC) in a new sponsorship deal.
Anycoin Direct stated that it would remain an official partner of PSV Eindhoven for the next two seasons. The aim of that is to increase the awareness of cryptocurrencies in Europe.
Britney Spears Invested in Bitcoin to Hide Her Purchases from Her Father
American singer Britney Spears invested in Bitcoin in 2014, according to recently published reports. She said that she had done it to hide part of her business activities from her relatives.
The hosts of the Toxic podcast, Tess Barker and Barbara Gray, have been investigating the events surrounding the case the singer is facing. That is because she is demanding to regain her own legal custody and take away her father’s rights.
The documents Barker and Gray reviewed revealed that Britney used Bitcoin to make purchases without her father knowing. She was afraid that her legal representative would retaliate against her.
By Alexander Salazar
