If You Smile ... 😄
If You Smile ... 😄
ICOs with smiling members raise 95% more money. Two Bitcoin mining stocks to watch out. NYC wants $3 Billion from DCG. Can you beat Twitter by copying it? $640k for white hat hackers in 1 year.
Hello, y'all. Do not forget to smile. Always.
This is The Token Dispatch 🙌 you can hit us on telegram 🤟
Can facial expressions influence investor decisions?
A professor of finance from the Hanken School of Economics in Finland recently published preprint research indicating that initial coin offerings (ICOs) tend to make more money when the people offering them appear to have more “trustworthy” faces.
Sinh Thoi Mai authored the paper “The Value of a Smile”
“The results show a positive correlation between facial trustworthiness and investment, with the average capital raised differing by approximately $2.91 million (95%) between the top and bottom quintiles of ICOs ranked by trustworthiness. Notably, this perceived trustworthiness is unrelated to post-ICO performance.”
How the study was conducted: The study used a sample of 5,826 ICOs and found that those with higher-rated facial trustworthiness scores raised up to 95% more money.
This effect was stronger when there was less information available about the ICO. The researchers believe that this is because investors are more likely to use facial expressions as a decision-making tool when they have less technical knowledge.
Arthur Hayes thinks crypto fundraising is broken …
… and he has a solution, his essay on the dynamics - Points Guard.
TLDR
ICOs and yield farming are flawed. Points programs are a better alternative.
Points programs would reward users for participating in a protocol, but wouldn’t immediately give them tokens.
This would avoid regulatory hurdles and give projects more control over their token supply.
Even though points programs could be abused, successful Web3 projects will adopt points programs before generating tokens.
Bitcoin Mining Stocks to Soar? 📈
Riot Platforms (RIOT) and CleanSpark (CLSK) are well-positioned to benefit from the upcoming Bitcoin halving, according to Bernstein analysts.
Read: What is Bitcoin Halving?🌛🌜
Bitcoin Price on the Rise: Bitcoin price reached $47,000, its highest point in a month. Positive ETF flows are also providing a tailwind for Bitcoin.
Analyst Recommendation: Analyst at Bernstein recommends buying Riot Platforms (RIOT) and CleanSpark (CLSK) to gain exposure to Bitcoin before April's halving.
Reasoning: The analyst believes that Bitcoin price will continue to rise after the halving, which is when the reward miners earn for their efforts is slashed in half.
In the Numbers 🔢
$3 billion
The amount DCG has been sued by New York Attorney General for allegedly defrauding Investors.
Where’s ETF?🚨
The Bitcoin spot ETF saw a net inflow of US$541 million on February 9, and has achieved net inflows for eleven consecutive trading days. Grayscale ETF GBTC had a single-day net outflow of US$51.81 million, setting a record low for Grayscale GBTC’s single-day net outflow👇
Block that Quote 🎙️
Dan Romero, co-founder Farcaster
“I don't think anything is working as a Twitter alternative.”
Romero believes that other platforms have failed because they try to copy Twitter instead of innovating.
Farcaster's key innovation is a feature called Frames, which allows users to embed interactive applications within their posts.
This has attracted a large number of developers to the platform.
Farcaster is still in its early stages, but it has the potential to become a major social media player.
Crypto Hackers and Bug Bounties 🌐
In the past year, some of the biggest payouts include $83,000 from Magic Eden and $75,750 from MetaMask.
How white hat hackers help crypto? Ethical hackers exploit vulnerabilities before malicious actors can. This is where bug bounties come in.
What are bug bounties? Programs offered by companies that reward hackers for finding and reporting security vulnerabilities in their software or systems.
Why are bug bounties important? Vital tool for companies to improve the security of their products. Patch holes before they are exploited by criminals.
Are bug bounties always disclosed publicly? No, not always. Some companies choose to keep the details of the vulnerabilities private.
The Surfer 🏄
The Hong Kong SFC is warning investors about a fraudulent crypto exchange impersonating MEXC.
The UN is investigating North Korean cyberattacks on crypto firms, alleging $3 billion stolen over 6 years to fund DPRK's WMD development.
The NEAR Foundation is applying for a .near top-level domain, aiming to bridge Web3 and Web2.
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