💰 Crypto exchange Gemini raises $400M

Led by Morgan Creek Digital

Hey Waivly Crew! 🌊 Starbucks has opened its first cashierless store in New York City, that uses Amazon’s Just Walk Out technology. Crypto exchange Gemini has raised $400 million in a funding round, bringing its valuation to over $7 billion.

This Waivly edition is brought to you in partnership with Lloyd, the career copilot platform that gives you personalised career coaching advice, and keeps you accountable to your career goals by giving you friendly and expert guidance, helping you achieve them in record time. Try it for free here.


Starbucks is opening a cashierless store in New York City

Starbucks has teamed up with Amazon to use its Just Walk Out tech in a new cashier-less store in NYC.

The new store, located at 59th Street between Park & Lexington Avenues in Manhattan, will integrate Starbucks app’s order ahead feature with Amazon's Just Walk Out technology.

When customers walk into the store, which is opening today, they can enter by using the “In-Store Code" in the Amazon Shopping app, by scanning their credit cards, or just the palm of their hand, if they’re already registered with Amazon One. Employees will be nearby to help any customers who are unfamiliar with the technology.

Over the next year, Starbucks and Amazon plan to open at least two more locations. The second location will also be in Manhattan, in the New York Times Building located at 40th Street and 8th Avenue.


Instagram is shutting down Threads

Met has confirmed that Instagram will be shutting down its standalone messaging service, Threads, by the end of 2021.

Starting November 23rd, the Threads app will now be displaying a notice prompting and redirecting its users to Instagram. Threads is similar to Facebook Messenger which allows users to send and receive Instagram DMs in its own separate messaging interface outside of the main platform.

The service has many features that will soon become available on Instagram once Threads shuts down. The features that are included in the Threads service are that the app automatically sets users' statuses based on what they are doing on their phones.

Meta is shutting down the service because they are in the process of consolidating and revamping many of their messaging platforms. Meta's Facebook Messenger and Instagram DMs will now be supported by cross-platform messaging. They soon will be incorporating WhatsApp in their consolidation and supporting cross-platform messaging. Another reason for the shutdown is that not many people are using the service, roughly about 200,000 users are utilizing the app for messaging.

Christine Pai, an Instagram spokesperson, explained to The Verge that with the shutdown of Threads, Instagram will now be focusing its efforts on "enhancing how users contest with their close friends on Instagram."


The Waves

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Crypto Special

Gemini crypto exchange raises $400 million in funding round

Cryptocurrency exchange Gemini has raised $400 million in a growth equity funding round valuing it at $7.1 billion.

Gemini is a cryptocurrency exchange and custodian that allows customers to buy, sell, and earn crypto. The $400 million investment values the New York parent company, Gemini Space Station, LLC, at $7.1 billion.

The round was led by Morgan Creek Digital with participation from decentralized finance venture firm ParaFi Capital, the Commonwealth Bank of Australia, and other investors. The brothers are expected to retain 75% ownership in the company and have a new combined net worth of $10.5 billion.

Back in college, the Winklevoss brothers and Mark Zuckerberg were friends until they sued Zuckerberg, claiming he stole their ConnectU idea to create Facebook. Now, over 17 years later, they might be competing against Meta to create the metaverse.

“There’s a centralized path, like Facebook or Fortnight, that is one step away from being a metaverse, and that’s totally fine. But there is another path, which is the decentralized Metaverse, and that’s the Metaverse where we believe there’s a greater choice, independence, and opportunity, and there is a technology that protects the rights and dignity of individuals,” Cameron Winklevoss said.

Canadian teenager arrested for stealing $46 million in cryptocurrency

A teenager has been arrested in Canada for allegedly stealing CAD $46 million ($36.5 million), Hamilton police announced earlier this week.

The victim got his cryptocurrency stolen via a SIM swap attack, a method that allows scammers to hijack accounts by manipulating cellular network employees to duplicate phone numbers so that they can acquire the two-factor authentication requests and gain access to their victim’s account.

Originally, the teenager was arrested for a theft exceeding $5,000. Hamilton Police is calling the theft the “biggest cryptocurrency theft reported from one person”.

Det. Constable Kirkpatrick commented on the rise of cybercrime recently, saying, “Educating our society with the dos and don’ts, like making sure you have multifactor authentication with your social media and e-mail and financial accounts is very important. And making sure you’re using different passwords for all your different accounts,” he said. “Make sure that if one place is breached and your password gets out there, not all of your accounts are compromised as a result of that. The education piece around cyber crime in its initial state is very important.”


Own and secure your crypto

If you’re into cryptocurrency and own crypto assets, you need a secure place to store your coins and tokens. You probably already know that you shouldn’t store your crypto on an exchange due to potential hacks, not being solely in control of your crypto’s private keys, and for other reasons, and so a hardware wallet is the way to go and the best option to protect your private keys, therefore, you should make the move to a Ledger wallet.

Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.

The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.


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