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Reddit announces the launch of Collectible Avatars

Reddit recently announced the launch of a new blockchain backed avatar system. Though no official date was publicized, the company suggested that the avatars will be available to the general public in the next few weeks. Reddit is providing first look early access to a limited number of people who join the r/CollectibleAvatars community.

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Reddit recently announced the launch of a new blockchain backed avatar system. Though no official date was publicized, the company suggested that the avatars will be available to the general public in the next few weeks. Reddit is providing first look early access to a limited number of people who join the r/CollectibleAvatars community.

Collectible Avatars are a set of limited-edition artwork created by independent artists who are also users of the Reddit website. The new avatars can be purchased with local currencies, however the announcement stated the artwork is stored on the Polygon blockchain. In addition, management of the Collectible Avatars is handled through Vault, Reddit’s blockchain-powered wallet that functions on Ethereum compatible chains.

The new collection will be available where Reddit users normally build their avatars on the website. Once a Collectible Avatar has been purchased, it can be used as an avatar on Reddit. Owners of the Collectible Avatars will be eligible to receive unique benefits and Collectible Avatar creators will receive a percentage of future secondary sales.

Reddit said that the avatars aren’t proper NFTs, and cryptocurrencies aren’t part of the process of buying or selling them for now, but indicated that, Blockchain-backed Collectible Avatars are one of the early steps they are taking to test out the potential benefits of this concept on Reddit.

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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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