🙌 Meta dives into the NFT space
Developing an NFT marketplace
⠀
⠀
Hey Waivly Crew! 🌊 Meta is exploring plans to let users create, showcase, and sell NFTs on Facebook and Instagram. Crypto.com has lost over $34 million in a hack that affected 483 accounts.
⠀
Want more from us at Waivly? Join Waivly+, the premium Waivly membership with exclusive content, resources, giveaways, events, and so much more, all blended together into one super low-cost and quick to join subscription 🎉 Head over to our website and hit “Subscribe” to get onboard!
Meta is exploring plans to make, showcase, and sell NFTs
Meta is reportedly working on plans to allow users to buy, sell and display NFTs on Facebook and Instagram.
⠀
Teams at Facebook and Instagram are currently working on features that will allow users to display their NFTs on their social media profiles, as well as developing a prototype to help users create NFTs, according to Financial Times.
⠀
Two people at Meta have reported that the company is also considering launching a marketplace for users to buy and sell NFTs as a way to cash in on the extremely popular NFT space.
⠀
While it’s still too early to say any of these plans will happen for certain, they would make perfect sense. Meta first teased plans to introduce NFTs back in October, when its head of metaverse products, Vishal Shah, said that its metaverse will provide people with opportunities to create and sell NFT-based products.
Twitter launches NFT profile picture verification
After months of testing, Twitter has released an official verification feature for NFT profile pictures.
⠀
Once you link your Ethereum wallet to your Twitter account, you'll be able to pick your favourite NFT that you own to use as your profile picture, which will then be clearly distinguishable in a new hexagon border instead of the standard circle.
While you can only display Ethereum-based NFTs at the moment, a representative for Twitter confirmed that this is only the “first iteration” of a feature that will possibly support other blockchains.
⠀
Twitter is supporting several crypto wallets, including Argent, Coinbase Wallet, Ledger Live, MetaMask, Rainbow, and Trust Wallet.
⠀
Until the feature is fully developed, NFT verification is only available for users with Twitter Blue, the company’s $2.99-a-month subscription service.
The Waves
🚀 $LOOKS crosses a $1 billion market cap
👀Thailand’s Bitkub plans crypto expansion in SE Asia
🏭 Intel is spending $20 billion to build a chip-making facility in Ohio
😂 Elon Musk chides Twitter for NFT-Linked Profile Pictures
Crypto Special
Russia’s central bank seeks to ban crypto trading and mining
On Thursday, Russia’s central bank proposed banning the use and mining of cryptocurrencies on Russian territory.
⠀
During an online press conference with Elizaveta Danilova, the director of the Bank of Russia's Financial Stability Department, a report titled "Cryptocurrencies: trends, risks, measures" was presented.
⠀
“Potential financial stability risks associated with cryptocurrencies are much higher for emerging markets, including in Russia,” the report said. “This is due to the traditionally higher propensity for saving in foreign currency and an insufficient level of financial literacy.”
⠀
Russia has argued for years against cryptocurrencies, saying they are used in money laundering or to finance terrorism. The bank proposed preventing financial institutions from carrying out any operations with cryptocurrencies along with introducing ways to block transactions aimed at buying or selling cryptocurrencies for fiat.
⠀
While Russia is set to ban all use of cryptocurrencies, the country is still home to a thriving mining industry. Last year Russia became the world’s third-biggest crypto-miner, according to Cambridge University data.
⠀
Crypto liquidations pass $700M
Bitcoin (BTC) remained lower on Friday after a bout of overnight volatility sent the biggest cryptocurrency to a six-month low.
⠀
Data from TradingView showed BTC/USD reversing at $38,250 after losing over $4,000 in hours.
⠀
Hovering around $39,000 at the time of writing, traders were reeling from the sudden drop, which came just as BTC had hit multi-day highs, passing $43,000.
⠀
Liquidations across all trading venues were, therefore, predictably significant. For Bitcoin and altcoins combined, 24-hour position unravelling totalled $725 million, with BTC positions accounting for $292 million.
⠀
Crypto.com reveals that over $30 million were stolen by hackers
The crypto exchange app, Crypto.com has recently revealed early Thursday morning they lost over $34 million in Bitcoin and Ethereum after they were hacked on January 17th.
⠀
The stealing of $34 million worth of crypto was stolen due to the crypto exchange platform being hacked on Monday, 17 January 2022 at 12:46 AM. The company’s risk monitor system detected unauthorised withdrawals on many users’ accounts without being approved by the platform’s two factor-authentication control being inputted by the account’s user. The unauthorised activity prompted multiple Crypto.com teams to assess and investigate the suspicious activities. During its investigation, the company suspended all withdrawals on its platforms.
⠀
As a result of the hack, Crypto.com changed the architecture of its two-factor authentication system as well as revoked all existing 2FA tokens. The change in the system has caused all users to switch over to the platform’s new two-factor authentication system.
⠀
According to a blog post from Crypto.com, the total value of crypto withdrawn amounted to 4,836.26 ETH ($15.3M), 443.93 BTC ($18.7M), and approximately $66,200 in other currencies. The company has disclosed that about 483 Crypto.com users had their accounts compromised by the hack and have offered affected users full reimbursement for their losses.
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.
⠀
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.
Share The Wave
That wraps up today's newsletter. Thank you for reading through, and we hope you liked today's content. Know someone else who would enjoy this newsletter just as much as you do? Send them to our website, and get them onboard the Waivly Crew and involved in The Wave. Get more from us on Twitter, Instagram, and LinkedIn.
⠀
Want more from us at Waivly? Join Waivly+, the premium Waivly membership with exclusive content, resources, giveaways, events, and so much more, all blended together into one super low-cost and quick to join subscription 🎉 Head over to our website and hit “Subscribe” to get onboard!
⠀
*Waivly+ is a premium Waivly membership. Join at anytime by clicking “Subscribe” on the Waivly website, and cancel anytime by heading to your account on Waivly.
*Waivly is an official affiliate of Ledger. See our Ledger Affiliate notice here.
Create your profile
Only paid subscribers can comment on this post
Check your email
For your security, we need to re-authenticate you.
Click the link we sent to , or click here to sign in.