Coinbase invests directly in cryptocurrency, Facebook’s digital wallet is ready to launch and offers US crypto rewards for catching hackers. These stories and more are coming this week in Cryptocurrency.
Nasdaq-listed Coinbase has revealed plans to add half a billion dollars in crypto to its balance sheet. CEO Brian Armstrong announced that the company’s board of directors has approved the crypto spending spree, adding that Coinbase also plans to invest 10% of all profits generated in digital assets going forward which could increase in the future.
Facebook is ready to launch a digital Novi wallet linked to its blockchain-based Diem payment system. The launch is now awaiting necessary regulatory approvals. According to the project leader, Novi could play a fundamental role in reforming the global payments system which he said is, among other things, too slow and too expensive.
Binance has made identity verification mandatory for all users immediately, just weeks after dramatically increasing the cap on unverified users. Verification includes users who present government-issued ID cards and pass a face verification. Binance revealed that these changes are the result of continuous reviews of its products and services as the regulatory environment continues to evolve rapidly.
Banking giant Wells Fargo has registered a private bitcoin fund with US regulators, becoming the latest mega bank with an indirect crypto investment vehicle. NYDIG and FS Investments are teaming up with Wells Fargo to offer a passive bitcoin fund that will be available to the bank’s wealthier clients.
Mortgage and lending company United Wholesale Mortgage has announced that customers will soon be able to make their home payments in cryptocurrency. Initially, the company was set to only allow bitcoin payments, although the CEO has hinted that if all goes well, the company will also say yes to payments made with ether and various other altcoins.
Chinese multinational technology giant Alibaba Group has launched a marketplace for non-fungible tokens (NFT). The Alibaba NFT platform will provide customers with the ability to buy and sell NFTs, and will also allow people to license and sell intellectual property (IP), as it is copyrighted by blockchain technology.
Retail giant Walmart has posted a business opportunity to search for a leading crypto client. The Arkansas-based company is building its blockchain team and needs someone to lead it in a digital direction. The retailer’s move comes days after rival Amazon announced its own search for a potential cryptocurrency customer.
Cell phone provider T-Mobile has been hacked. Hackers gained access to the private data of more than 100 million users and are now looking to sell that data on the dark web for bitcoin and other cryptocurrencies. The information in question includes Social Security numbers, dates of birth, and even the physical addresses of many T-Mobile customers.
The US State Department is offering crypto rewards of up to $10 million to individuals who can help identify malicious hackers. Members of the department allege that numerous hackers have targeted power, transportation, and water systems across the country, and that regulators will pay large sums for any information leading to their identification and capture.
This is what happened this week in cryptocurrency, see you next week.