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Hey Waivly Crew! 🌊 Yesterday after-hours, Coinbase reported first-quarter results that missed analysts’ revenue estimates. After 21 years, Apple has announced it is discontinuing its revolutionary music player, the iPod Touch.

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Coinbase reports net loss of $430 million for Q1 2022

Crypto exchange Coinbase has released its earnings for the first quarter of 2022, and it’s safe to say the results missed analyst estimates.

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The company disclosed that it generated $1.17 billion in revenue, a lot less than the $2.5 billion recorded in Q4 2021 and far below analysts' Q1 predictions of $1.5 billion.

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Coinbase also reported a quarterly net loss of $430 million during 2022's first quarter, compared with a profit of $840 million in the fourth quarter. Additionally, Coinbase totalled 9.2 million transacting users, missing analyst estimates of 9.9 million.

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“We believe these market conditions are not permanent, and we remain focused on the long-term,” the company wrote in a positive letter to shareholders following its earnings release. It also stated it plans to focus on opportunities crypto offers beyond trading:

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“While we continue to invest and enhance our core investment platform, the application era of crypto is upon us, led by NFDs and decentralized finance, and we are increasingly focusing our efforts on these market opportunities.”

Flow launches $725M fund to support blockchain development

Flow, the NFT and crypto game focused blockchain, is launching a $725 million ecosystem fund to attract new developers.

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The ecosystem fund saw participation from a range of venture firms, including Andreessen Horowitz, Coinfund, Digital Currency Group (DCG), Coatue Ventures, Dapper Ventures, Fabric Ventures, Spartan Group, and Union Square Ventures.

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According to a press release from the network’s creator, Dapper Labs, the fund will go towards boosting gaming, infrastructure, decentralized finance, content, and creators in the Flow ecosystem.

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"We are thrilled to see such a strong vote of confidence in the Flow ecosystem from some of the world's leading investors in web3 through their commitment to this fund," said Roham Gharegozlou, CEO of Dapper Labs.

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Since launching back in 2019, Flow has become the blockchain of choice for nearly 300 Web3 projects, including marketplaces, games, wallets, and, most notably, sports platforms. NBA Top Shot is currently the top earner on Flow, with over $1.4 billion in primary and second sales recorded.

The Waves

👨‍🚀 NASA partners with Epic Games to create Martian Metaverse

📜 UK announces new cryptocurrency laws

💰 El Salvador buys 500 Bitcoin

👀 Qualcomm CEO is bullish on metaverse tech

Tech Special

Elon Musk’s Twitter plans align with EU’s new social-media laws

Elon Musk confidently shared he’s "exactly aligned" with strict new European Union rules on policing harmful content on social media platforms.

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Musk, who is in the process of buying Twitter for $44 billion, met with EU Commissioner Thierry Breton at Tesla Gigafactory in Austin, Texas, to discuss the Digital Services Act, a new law imposing higher content moderation standards on social media platforms.

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In a video posted by Breton on Twitter, the commissioner says to Musk: "I was happy to explain to you the DSA, our new regulation in Europe, and I think now you understand very well."

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“I think it’s exactly aligned” with the future goals for Twitter, Musk replied. “It’s been a great discussion, and I really think I agree with everything you said, really. I think we’re very much of the same mind, and I think anything that my companies can do that would be beneficial to Europe, we want to do that.”

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Musk made comments on the meeting in a tweet: “Great meeting! We are very much on the same page.”

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Despite supporting Europe's new legal requirements, Musk plans to further enable free speech on Twitter by easing its enforcement of content moderation policies. As part of his promise, Musk will reverse the permanent ban on former U.S. President Donald Trump, citing the move was “morally bad” and “foolish in the extreme.”

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Apple discontinues the iPod Touch

Apple has recently announced that it will be discontinuing the production of the iPod Touch. The company said in a blog post released on Tuesday that they will be selling the current iPod Touch while supplies last.

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The portable music player has been around for about 20 years, with its discontinuation marking an end of an era for Apple. Despite the production of the iPod Touches will be discontinued, their spirit will live on through Apple’s new devices such as the iPhone, iPad, and even their HomePod Mini.

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The discontinuation of the iPod Touch does not come as a surprise since most people are no longer interested in carrying around a secondary device that provides the service that their smartphones are capable of providing now. Many smartphones now have the capability of playing, discovering, sharing, and listening to music.

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The very first iPod was released in 2001, and in the following years, Apple released various models, including the iPod Nano and Shuffle. While the iPod Touch was first launched in 2007. The iPod has redefined how individuals discover, listen to, and share music.

Own and secure your crypto with Ledger

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.

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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.

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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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