Coinbase is investing directly in cryptocurrency, Facebook is preparing to launch its digital wallet, and the United States is offering crypto rewards for detecting hackers. This week in crypto, we have these stories and more. Hello, this is Nate Martin from 99Bitcoins.com, and here’s what occurred in crypto this week. Coinbase, a NASDAQ-listed company, has announced plans to add half a billion dollars in cryptocurrency to its financial sheet.
Coinbase CEO Brian Armstrong revealed that the business’s board of directors had approved the crypto spending spree, and that the company also expects to invest 10% of all earnings made in digital assets in the future, with the percentage possibly increasing. Facebook is getting ready to introduce the Novi digital wallet, which will be linked to its Diem blockchain-based payment system. The rollout is now awaiting regulatory approval. According to the project’s head, Novi might play a key part in improving the global payments system, which he claims is too slow and expensive. Binance has made ID verification mandatory for all users, with the change taking effect immediately, just weeks after drastically raising the cap for unconfirmed users.
Users must present their government-issued ID cards and pass facial verification as part of the verification process.
As the regulatory landscape continues to evolve swiftly, Binance acknowledged that these modifications are the result of continual reviews of its products and services. Wells Fargo has filed a private bitcoin fund with US regulators, making it the third mega-bank to provide an indirect cryptocurrency investment vehicle.
Wells Fargo has partnered with NYDIG and FS Investments to create a passive bitcoin fund to the bank’s wealthiest clientele. United Wholesale Mortgage, a mortgage and financing company, has announced that consumers will soon be able to pay for their homes with cryptocurrency. Initially, the company would only accept bitcoin payments, but the CEO mentioned that if things go well, the company may accept payments in Ether and other cryptocurrencies as well.
Alibaba Group, a Chinese multinational technology conglomerate, has launched a non-fungible token (NFT) exchange. Customers will be able to buy and sell NFTs on the Alibaba NFT platform, as well as license and sell intellectual property (IP), which is copyrighted thanks to blockchain technology.
The retail behemoth Walmart has advertised a position for a crypto product lead. The Arkansas-based firm is putting up a blockchain team and is looking for someone to steer it in the right way. The retailer’s action comes only days after Amazon announced its own cryptocurrency lead search. T-Mobile, a mobile phone company, has been hacked. Hackers have gotten access to more than 100 million individuals’ personal information and are now attempting to sell it on the dark web for bitcoin and other cryptocurrencies.
Several T-Mobile users’ social security numbers, birthdates, and even physical addresses are among the data in question. The United States State Department is offering cryptocurrency prizes of up to $10 million to anybody who can help identify harmful hackers. Members of the department believe that multiple hackers have targeted power, transportation, and water networks across the country, and that regulators will reward anyone who can identify and apprehend them.
That concludes this week’s crypto news; see you next week. If you liked this video, please give it a thumbs up and subscribe and click the notification bell so you don’t miss a review, news update, or the most comprehensive information about Bitcoin and cryptocurrencies available anywhere.
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