• Peter McCormack slams Worldcoin, saying ‘Bitcoin is world coin’
• Binance to halt Bitcoin spot trading with Australian Dollar
• DCG shutters TradeBlock institutional trading platform
Peter McCormack Slams Worldcoin
Peter McCormack, the host of the ‘What Bitcoin Did’ podcast, has publicly criticized Worldcoin in a tweet, inferring that the project is redundant as “Bitcoin is world coin.” He also used unflattering descriptors such as “sh*tcoin,” “VC dystopian rug pull,” and “exit liquidity” to express his disdain for the project.
Worldcoin’s Controversial Vision
Worldcoin first emerged in 2021 with a controversial vision of scanning people’s eyes in exchange for cryptocurrency. The company proposed a global participation model where people would collectively benefit from a growing decentralized digital economy. To facilitate this process, they planned to incentivize new users by using biometric safeguards such as Orb-iris scanning technology.
Criticism from the Crypto Community
The idea was met with criticism from many members of the crypto community who labeled it Orwellian and suspicious due to its attempts at mass adoption. Furthermore, Peter McCormack used several negative descriptors to describe Worldcoin – further solidifying its dubious reputation.
Binance Halts Trading with Australian Dollar
In other news, Binance will be suspending all spot trading between Bitcoin and the Australian dollar on June 4th. This follows an announcement made last month which stated that Binance users in Australia must convert their fiat money into cryptocurrencies before being able to trade on the exchange. Users have until June 4th to comply or risk losing access to their accounts permanently.
DCG Shuts Down TradeBlock
Digital Currency Group (DCG) has announced that it will be shutting down its institutional trading platform TradeBlock effective immediately due to low demand. The company cited increasing competition from larger industry players such as Coinbase and Fidelity Digital Assets as one of the reasons behind its decision to close shop
