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Hey Waivly Crew! 🌊 According to an internal post, Meta is aiming for “deep compatibility” with blockchain technology in 2022. Wyoming Senator Cynthia Lummis is planning to introduce a new crypto bill next year.
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Meta aims for ‘deep compatibility’ with blockchain
Meta, Facebook’s parent company, is aiming for “deep compatibility” with blockchain technology, according to an internal post.
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In the note to employees, which was obtained by The New York Times, Andrew Bosworth, Meta’s upcoming chief technology officer, explored Meta’s plans of exploring decentralized autonomous organizations (DAOs) and NFT-related business avenues.
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Bosworth urged caution but noted that blockchain technologies could have “profound impacts on our industry over the next decade,” adding that Meta should aim to adopt the technology before its competitors.
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“My overall guidance is to target a deep compatibility with the blockchain,” he wrote. “There aren’t many places where I expect us to depend on it exclusively yet, but if we see an opportunity to work jointly with entrepreneurs in the web3 space I expect it will be worth the effort.”
PwC Hong Kong purchases LAND in The Sandbox
![The Sandbox on Twitter: "An unidentified object is approaching The Sandbox metaverse at lightning speed! It seems to be heading towards one of the biggest ESTATE of the Sandbox. What could it](https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F2df26872-ccdd-4b1c-ba4b-d9189bf42410_1200x675.jpeg "The Sandbox on Twitter: "An unidentified object is approaching The Sandbox metaverse at lightning speed! It seems to be heading towards one of the biggest ESTATE of the Sandbox. What could it")
Yesterday PwC Hong Kong, an international subsidiary of PricewaterhouseCoopers (PwC) organization, announced its first step into the metaverse.
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PwC Hong Kong has acquired LAND in the popular virtual world The Sandbox for an undisclosed amount, which it will use to construct a Web 3.0 advisory hub to facilitate a new generation of professional services, including accounting and taxation.
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This is no surprise as PWC’s Hong Kong branch has been a big supporter of blockchain technology and crypto assets for years. In November 2017, the office started accepting payments in Bitcoin.
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William Gee, a partner at PWC Hong Kong commented on the LAND acquisition. “The metaverse offers new possibilities for organisations to create value through innovative business models, as well as introducing new ways to engage with their customers and communities.”
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“We will leverage our expertise to advise clients who wish to embrace the metaverse on the full range of challenges presented by this emerging global digital phenomenon,” he added.
The Waves
👀 Blockchain is set to disrupt every industry
💰 Monkey Kingdom loses $1.3M in a security breach
🚗 US investigates claim Tesla owners can play video games while driving
📺 LG made some wild curved OLED concepts for CES 2022
Crypto Special
Senator Lummis to propose new Bitcoin bill
Pro-Bitcoin Wyoming Senator Cynthia Lummis is planning to introduce a detailed bill on Bitcoin and crypto in 2022.
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The proposed bill will aim to provide regulatory clarity on stablecoins, guide regulators as to which cryptos belong to different asset classes, and offer consumer protections.
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Along with this, the senator reportedly proposed establishing an organization under the joint jurisdiction of the Commodity Futures Trading Commission and the Securities and Exchange Commission to oversee the crypto market.
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On Twitter, Lummis asked U.S. voters to reach out to their senators to support the bill, saying she was looking for bipartisan cosponsors.
Bitcoin Magazine @BitcoinMagazine
BREAKING – US Senator Cynthia Lummis to propose new bill for #Bitcoin next year 🇺🇸 https://t.co/oYkTl3luenLummis has not hidden her support for Bitcoin in the past, as in October, she bought around $50,000 to $100,000 worth of Bitcoin, according to a Periodic Transaction Report.
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Crypto scammers steal $7.7 billion from investors in 2021
With crypto assets skyrocketing in popularity in 2021, so has crypto scams. Over $7.7 billion worth of cryptocurrency was stolen from victims worldwide in 2021.
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According to a report from blockchain data firm Chainalysis, scams were the largest form of cryptocurrency-based crime by transaction this year, with an 81% rise in scams compared to 2020.
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"That represents a rise of 81% compared to 2020, a year in which scamming activity dropped significantly compared to 2019, in large part due to the absence of any large-scale Ponzi schemes. That changed in 2021 with Finiko, a Ponzi scheme primarily targeting Russian speakers throughout Eastern Europe, netting more than $1.1 billion from victims," the report noted.
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The biggest change compared to 2020 for crypto scams was rug pulls. In 2021 rug pulls accounted for over $2.8 billion stolen from victims, which is 37% of all cryptocurrency scam revenue in 2021, while last year, it was only 1%.
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.
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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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