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Argentina’s fan token sinks after World Cup loss

Argentina’s shock 2-1 loss to Saudi Arabia in the opening match of the FIFA World Cup has driven down the price of the Argentine Football Association Fan Token, in line with the hopes of the nation’s die-hard soccer fans. 

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Argentina’s shock 2-1 loss to Saudi Arabia in the opening match of the FIFA World Cup has driven down the price of the Argentine Football Association Fan Token, in line with the hopes of the nation’s die-hard soccer fans. 

With the ARG token priced at $7.21 at kick-off, the poor performance by the Lionel Messi-led soccer team saw the token’s price fall 31% to $4.96 by the end of the match before rising to $5.22 at the time of writing, according to data.

By contrast, the floor price of  The Saudis,a Saudi Arabian-themed nonfungible token collection unrelated to the soccer team, skyrocketed 52.6% from 0.196 Ether to 0.3 ETH over the same time before cooling off to a price of 0.225 ETH, around $250.

The collection’s sales volume also spiked 990% over the last 24 hours, closing in on 24.5 ETH as per OpenSea data.

Despite the built-up hype for the FIFA World Cup, which officially kicked off on Nov. 20, cryptocurrency research firm Delphi Digital noted that the fan engagement platform Socios’ native token Chiliz (CHZ), in addition to other soccer-based tokens representing participating nations, has also cooled off considerably over the last few days.

Many of the soccer–based tokens run on Socios, which has partnerships with some of the largest soccer clubs in the world, including Barcelona F.C., Paris Saint-Germain F.C., and Manchester City F.C.

The tokens are also impacted by factors other than the on-field success of soccer teams, such as the regular ebbs and flows of crypto markets and breaking news events. 

An example is the recent FTX collapse sending the price of CHZ falling by nearly 40% since the reports of the exchange’s liquidity issues and proceeding bankruptcy.

In May, smart contract platform Algorand became the first official blockchain-based sponsor for the FIFA World Cup, which is set to wrap up on Dec. 18.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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