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Hey Waivly Crew! 🌊 Biden has signed an executive order to support the research and development of a “U.S. Central Bank Digital Currency,” or CBDC. Cake DeFi has launched a $100M venture arm to fund Web3 startups.

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Biden issues executive order to explore digital dollar

Yesterday, U.S. President Joe Biden signed an executive order to explore establishing a Central Bank Digital Currency (CBDC), also known as a "digital dollar."

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Announced in a White House statement, the U.S government may adopt a digital dollar if there is enough national interest. This will require the Treasury Department, the Commerce Department, and other key agencies to create reports on the future of cryptocurrencies in the U.S.

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The order also supports the Federal Reserve's efforts to continue its research, development, and assessment for a U.S CBDC, as well as study the technological infrastructure needed for its development.

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Back in January, the Federal Reserve first released a report exploring the possibility of launching a digital dollar, which, unlike cryptocurrency, would be fully backed up and owned by the central bank.

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The U.S wouldn’t be the first to launch a CBDC, as so far, nine countries have fully launched a digital currency, Nigeria being the latest to launch its e-Naira. 87 countries are also exploring a CBDC, a big raise from the 35 countries in May 2020.

Adobe’s Behance adds support for Polygon

Adobe’s creative social network Behance is adding support for NFTs minted on Polygon, giving creators a more eco-friendly alternative to showcase their work than Ethereum.

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Announced in a blog post, creators can simply connect their wallet to their Behance account to display all NFTs they created on their profile, thanks to Alchemy's suite of products, including the NFT API.

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“By combining Polygon’s low-cost and composable network with Behance’s new NFT functionality, creators can take a holistic journey from design to showcase, all the way to the potential sale of the NFT,” said Sandeep Nailwal, co-founder of Polygon. “Allowing users to embrace this technology in an efficient and environmentally-conscious way stands to greatly augment the creator economy.”

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This comes just a day after Adobe announced that Binance now allows users to showcase their Solana NFTs on the platform, a preferred blockchain over Ethereum for its lower transaction fees and subsequent energy expenditure. 

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At Max 2021, Adobe rolled out tools to solve problems creatives often experience in the NFT space, such as Content Credentials, a feature that will allow creators to link their Adobe ID with their crypto wallet to allow buyers to check that the wallet listing an NFT is the same one that minted it.

The Waves

🏀 Lebron James plans for the metaverse

🎵 Limewire to relaunch as an NFT marketplace

🏦 Senator Lummis prepares bill to integrate crypto into US financial system

👀 Bitbull Capital CEO shares 2023 Bitcoin prediction

Hustle Special

5 quotes to help you stay positive

We all have bad days, weeks, months, or even years, but it’s important to still try to think positive. Here are five quotes that may help you look on the bright side.

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A goal is not always meant to be reached, it often serves simply as something to aim at.” – Bruce Lee.

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“Choosing to be positive and having a grateful attitude is going to determine how you’re going to live your life.” – Joel Osteen.

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“Courage isn’t having the strength to go on – it is going on when you don’t have strength.” – Napoléon Bonaparte.

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“When the sun is shining I can do anything; no mountain is too high, no trouble too difficult to overcome.” – Wilma Rudolph.

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”If you are positive, you’ll see opportunities instead of obstacles.” - Widad Akrawi.

Cake DeFi launches $100M venture arm

Singapore-based decentralized finance (DeFi) services firm Cake DeFi has launched a $100 million venture arm to invest in Web3.

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The new venture arm, Cake DeFi Ventures (CDV), will be focused on investing in tech startups across Web3, the metaverse, the NFT space, gaming, esports, and fintech spaces. CDV aims to invest in projects that will complement Cake DeFi’s core business and services, which include liquidity mining, staking, and lending of cryptocurrencies.

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In a press release, Co-founder and CTO of Cake DeFi, U-Zyn Chua. shared the reason for this. “As an extension of our multiple blockchains support and having built up an R&D arm with cryptography, deep tech capability, and specialization, investing in companies that bring synergies to Cake DeFi’s core business will allow us to enhance our Web 3 offerings.”

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Cake DeFi, which currently manages over $1 billion in customers' assets, saw its user base skyrocket in 2021 to over 400,000 users and paid $230 million in rewards to customers during the year.

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.

Share The Wave

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