News

Meta CEO and founder, Mark Zuckerberg, has confirmed that Instagram would integrate an NFT feature for creators. Zuckerberg also intimated that Facebook could soon get a similar upgrade. On Twitter, it is not unusual to see a hexagonal-shaped profile picture. In January 2022, Twitter enabled its users to display their NFTs, although this only applies to those on the premium version – Twitter Blue. In a similar fashion, Instagram is set to allow creators and owners curate their pages and…

Defi Yield Protocol (DYP) has launched a staking pool for its “Cats and Watches Society” (CAWS) NFT collection. The yield farming aggregator will reportedly provide up to 50% APR to CAWS stakers, denominated in ETH. Earning Yield on NFTs? NFT staking differs from cryptocurrency staking through the so-called “proof of stake” consensus mechanism. Rather than securing a network, “staking” an NFT is simply locking up one’s holdings with a platform to earn rewards. The 50% APR rewarded to CAWS stakers…

CULT DAO is one of the projects pushing for a faster decentralization of the financial world. To reach its goal, the blockchain-based DAO has announced the upcoming release of a Revolt 2 Earn token. While the concept is fascinating itself, the fact that it attracted the attention of hacktivist group Anonymous is even more intriguing. Does Anonymous Support Decentralization? In recent years, Anonymous has often proven its support for a more decentralized world where individuals would be free from society’s…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,580 trillion. Bitcoin is down by roughly 9.5% after a disappointing week. Ethereum lost almost 9% of its value over the past seven days. XRP decreased by nearly 4% this past week. The altcoins are trading in the red with almost no exceptions. The DeFi sector added over $4 billion from the Total Value…

A report from the Bank of International Settlements indicates that nearly every nation is exploring the possible issuance of CBDCs. As the report reads, more than half of the planet is already developing central bank digital currencies (CBDCs), or running concrete experiments. Covid-19 is reported as an added reason for CBDC development, given their potential role in stabilizing advanced economies. Right now, pandemic supply chain issues and monetary stimulus have led to record inflation in both the European Union and…

Last month, Fidelity announced that it would begin allowing customers to include Bitcoin in their 401(k) retirement accounts. However, as with most things crypto-related, US Senator Elizabeth Warren is highly skeptical of the idea. Questioning Fidelity The senator issued a letter to Fidelity CEO Abigail Johnson on Wednesday, questioning the “appropriateness” of her company’s decision. Warren claimed that cryptocurrencies pose risks of “fraud, theft and loss,” citing the Department of Labor’s warning to 401(k) fiduciaries. The labor department’s warning was…

Earlier today, a hacker gained access to NFT marketplace OpenSea's discord server, exploiting its channel for a phishing scam. This is the second time that the platform has fallen victim to this form of attack this year. Hacker Promotes Fake Collab Between Youtube and OpenSea According to reports and screenshots from participants in the server, the attacker took over one of OpenSea's bots. They then uploaded a string of posts sharing news of a collaboration between YouTube and the NFT…

Binance – the world’s largest cryptocurrency exchange – is among a list of major equity investors backing Elon Musk’s Twitter bid. The company supported the tech mogul with $500 million, alongside an additional $1 billion from other crypto-supportive firms. Binance Backs Elon Binance’s backing was revealed in an updated Schedule 13D filing with the Securities and Exchange Commission (SEC) on Wednesday. It lists 19 different parties that contributed a total of around $7.1 billion to the Tesla CEO. Elon Musk…

Gucci is looking to woo affluent crypto investors after announcing plans to start accepting digital currencies for payment. A report revealed this bullish news yesterday, noting that the fashion house intends to start accepting crypto this month. However, the crypto payment option will be available in select US stores. According to the report, Gucci will initially roll out crypto payments in five stores in the US. These are Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design…