January 23, 2024

Crypto Weekly Digest #41: Latest Web3 Innovations, Market Shifts & Legal Updates!

Welcome to another edition of Crypto Weekly Digest! ย ๐ŸŒ

As the digital currency world continues to evolve at a breakneck pace, we're here to keep you in the loop with the latest and greatest from the cryptosphere.

This week, we've got a mix of security scares, legal dramas, and some smart moves in the market. So, buckle up for a rollercoaster ride through the world of crypto!

๐ŸŒ Hitachi & Hedera: Pioneering Sustainable Solutions in the Web3 World ๐Ÿš€

In a game-changing partnership, Hitachi America Ltd. has joined the Hedera Council, making waves in the world of decentralized technology! ๐ŸŒŸ This collaboration is set to turbocharge innovations in sustainability and supply chain solutions, harnessing the power of Hedera's Distributed Ledger Technology (DLT). ๐Ÿค

Hitachi, renowned for its expertise in industrial solutions, is diving into creating proof-of-concepts for end-to-end supply chain and sustainability solutions, slated to kick off within the next year. ๐Ÿญ๐Ÿ’ก This marks a significant stride in advancing real-world applications of Web3 technology as Hitachi leverages its vast experience in electronics, healthcare, energy, and IoT.

The Hedera Council, a consortium of diverse global organizations, is all about innovation and decentralizing the Hedera network. ๐ŸŒ Each member, including big names like IBM, Google, and now Hitachi, shares equal say in Hedera's direction, contributing to a robust and sustainable enterprise-grade public network.

This partnership isn't just a techy affair; it's a commitment to transparency and accountability in today's complex systems, especially in supply chains. ๐Ÿ”„ With Hitachi's history of pioneering technology across various sectors, this collaboration is set to bring groundbreaking advancements and transformative solutions to the forefront of the Web3 era. ๐Ÿ’ซ

source: here



Stablecoin Saga: Tether's Temporary Tumble! ๐Ÿ“‰๐Ÿ’ฅ

Last week, Tether briefly lost its peg, stirring up the crypto world. ๐ŸŒ The incident didn't last long, but it definitely has not gone unnoticed. ๐Ÿšจ This blip in the stablecoin's stability has people buzzing about the future of these digital dollars. ๐Ÿค” The 'Stablecoin Wars' are heating up, and it's anyone's guess how they'll unfold! ๐Ÿ’น๐Ÿ”


TrueUSD Takes a Tumble: TUSD's Tiny Trip Off-Peg! ๐Ÿ’ธ๐Ÿ“‰

Chainlink recently highlighted that TrueUSD (TUSD) briefly lost its peg to the US dollar, dipping to $0.985. ๐Ÿ“Š๐Ÿ‘€ This unexpected move might be tied to TUSD's absence in Binance's latest Launchpool, causing a stir in the crypto community. ๐Ÿค”๐Ÿ’ป Adding to the intrigue, Binance reported a significant net outflow of $56.69 million in TUSD's large orders over the past 24 hours. ๐ŸŒช๏ธ๐Ÿ’ฐ This incident adds another twist to the ongoing saga of stablecoin stability, keeping the crypto world on its toes! ๐ŸŒ๐Ÿง


source: here


Solana's Smartphone Saga: More Bang for Your Buck with Bonk! ๐Ÿ“ฑ๐Ÿ’ฅ

Get ready because Solana Mobile is back with a second-gen crypto smartphone, and it's a game changer! ๐ŸŒŸ After their first $1,000 model made waves last year, they're now rolling out a more affordable version. It's got all the cool features like a built-in crypto wallet, custom Android software, and a dApp store, but with a twist in hardware and a friendlier price tag. ๐Ÿ’ฐ๐Ÿ”„

Here's the juicy bit: their original Saga phone got a massive boost in sales thanks to the BONK token. ๐Ÿถ๐Ÿš€ Believe it or not, at one point, the returns from this token were higher than the phone's cost itself! This clever move helped skyrocket the Saga's desirability, with prices on eBay hitting a whopping $3,200! ๐Ÿ“ˆ๐Ÿ’ธAlthough not the first crypto smartphone in the game - Samsung has already brought a crypto-ready device to the market back in 2020 - Solana's choice to combine sales with the token has hit the jackpot.๐ŸŽฐ๐Ÿ’ฐ

With the world of crypto and mobile tech merging faster than ever, Solana's move to introduce a second, more affordable smartphone could really stir things up. ๐Ÿ“ฒ๐Ÿ”ฅ It's not just a phone; it's a gateway to the crypto universe, made more accessible to everyone. Solana is definitely making a statement in the tech-meets-crypto space! ๐ŸŒ

source: here

Mercedes-Benz Goes NFT: Drive into the Digital Future! ๐Ÿš—๐Ÿ’ป๐ŸŽจ

Mercedes-Benz is revving up the luxury car game with a futuristic twist: introducing the MBUX Collectibles in-car NFT gallery! ๐ŸŒŸ This cool new feature, showcased at CES 2024, is part of their popular Mercedes-Benz User Experience (MBUX) dashboard, merging classic luxury with the buzzing world of NFTs. ๐ŸŽ‰๐ŸŒ

Hereโ€™s the scoop: With just a few taps on the dashboard, Mercedes drivers can browse and display digital collectibles related to the brand. Imagine cruising around with your favorite digital art on display! ๐Ÿ–ผ๏ธ๐Ÿš™ This move isnโ€™t just about flashy tech; it's Mercedes-Benz stamping its mark as a pro-Web3 brand, tuning into the younger, tech-savvy crowd. ๐Ÿ“ฒ๐Ÿ‘ฅ

Remember Mercedes-Benz's NXT Icon collection? Those 18,860 NFTs sold out in hours last year. And now, they, along with their first โ€˜Maschinโ€™ NFT collection, can be part of your rideโ€™s digital decor! ๐ŸŒ๐Ÿ”ฅ This isn't just about adding a cool factor; it's about redefining what luxury in a car can be in this digital age. Mercedes-Benz is driving full speed into the future, combining high-end vehicles with cutting-edge digital innovation. ๐ŸŽ๏ธโœจ

source: here

Forbes Dives into Web3: Unlocking a New Era of Digital Interaction! ๐Ÿ’ผ๐Ÿ”๐ŸŒ

Forbes is making a bold move into the Web3 world with its latest collaboration with Magic, a blockchain-based tech platform. ๐Ÿค They're launching the Forbes Connect Wallet, a digital wallet that lets users store, manage, and transfer cryptocurrencies right from their Forbes account. ๐Ÿ’ฐ๐Ÿ“ฑ

This isn't just about holding crypto; it's a gateway to exclusive content and rewards. ๐ŸŒŸ Forbes readers can now unlock premium articles, in-depth blockchain analyses, and expert interviews using crypto from their Forbes Connect Wallet. ๐Ÿ“–๐Ÿ”‘

But wait, there's more! Content creators on Forbes aren't left out. They get to monetize their work in crypto, opening up a whole new revenue stream. Plus, Forbes is exploring blockchain for copyright protection, giving creators more control over their work. ๐Ÿ› ๏ธ๐ŸŽจ

And to top it off, Forbes is adding a fun twist with gamification. Readers can earn crypto rewards for engaging with content - think sharing articles or participating in surveys. ๐ŸŽฎ๐Ÿ† This move is not just innovative; it's shaping the future of how we interact with content and technology. Forbes is leading the charge, blending traditional media with the exciting possibilities of Web3. ๐Ÿš€๐Ÿ“š

source: here

Starbucks Korea Stirs Up Web3 with NFTs: A Sip of Digital Innovation! โ˜•๐ŸŒ๐ŸŽจ

Starbucks Korea is taking a big leap into the world of Web3 with their unique 'STARBUCKS STARโ˜…LIGHT' NFT project. This isn't just about digital art; it's about promoting eco-friendly habits among coffee lovers. ๐ŸŒฑ๐Ÿ“ฑ

Customers can earn different tiers of NFTs โ€“ BASIC, CREATIVE, and ARTIST โ€“ by using their own cups for orders and collecting Eco Stamps. ๐Ÿฅค๐ŸŒŸ It's a blend of sustainability and tech, where your eco-friendly choices turn into cool digital collectibles, created in collaboration with artists like DADAZ. ๐ŸŽจ๐Ÿ”—

This project is more than just a marketing stunt. It's a call to action for a greener lifestyle, rewarding customers for making eco-conscious choices. Plus, it marks Starbucks' commitment to digital innovation and sustainability in Asia. ๐Ÿƒ๐Ÿ’ป

So, next time you're at Starbucks Korea, think of how your coffee can add a splash of digital art to your life while helping the planet. It's a whole new way to experience your favorite brew! ๐Ÿš€๐ŸŒ

source: here

HashKey Group Hits Big in Hong Kong: $100 Million Raise Rockets to Unicorn Status! ๐Ÿš€๐Ÿ’ผ๐Ÿฆ„

HashKey Group, a digital asset financial services powerhouse in Asia, has just smashed a major milestone by raising nearly $100 million in a Series A financing round. ๐Ÿค‘ This whopping investment rockets their valuation to a staggering $1.2 billion, officially crowning them a "unicorn" in the industry. ๐ŸŒŸ๐Ÿฆ„

This funding frenzy was led by some major players, including OKX Ventures, the investment arm of crypto exchange OKX. ๐Ÿฆ๐Ÿ’ฐ HashKey's not just sitting on this cash; they're planning to turbocharge their Web3 ecosystem, ramp up product diversification in Hong Kong, and spur global growth. ๐ŸŒโœจ

Their approach? Focusing on compliance and security - a strategy which has already proven to pay off. HashKey Exchange, their licensed virtual asset exchange app in Hong Kong, saw over 155,000 registered users and a daily trading volume of a cool $630 million. ๐Ÿ“ฑ๐Ÿ’น

This move isn't just a win for HashKey; it's a massive nod to the potential of blockchain and crypto in the Asia-Pacific market. Despite recent crypto downturns, this shows there's still huge investor appetite and confidence in the future of digital assets. ๐Ÿ“ˆ๐Ÿ”ฎ

source: here, ย here


McLaren and OKX Speed into the Future: A High-Octane Web3 Partnership! ๐ŸŽ๏ธ๐Ÿ’จ๐ŸŒ

McLaren Racing is shifting gears in the crypto world, doubling down on its partnership with cryptocurrency exchange OKX for the 2024 F1 season. ๐Ÿš€๐Ÿ”ฅ OKXโ€™s logo will blaze on the side pods of McLarenโ€™s F1 car livery, making it a high-speed billboard for crypto in 20 out of the 24 races. ๐Ÿ๐Ÿ–Œ๏ธ

This deal isn't just about slapping a logo on a fast car; it's about synergy and visibility. OKX and McLaren are creating a 'Stealth Mode' design inspired by their collaboration at the Singapore and Japan Grand Prix in 2023. Think of it as art meets adrenaline! ๐ŸŽจ๐Ÿ’ฅ

But there's more than just racing glory here. This partnership is a testament to the growing bond between the exhilarating world of F1 and the dynamic realm of crypto. OKX is tapping into McLarenโ€™s fan base with exclusive events, like the OKX Race Club, which drew over 7,000 attendees in Singapore! ๐ŸŒ๐ŸŽ‰

And for the crypto-curious? The partnership's already sparking interest, with 3,000 OKX Web3 wallets created during a single event. It's a blend of sports, tech, and finance, fueling a new era of fandom. McLaren and OKX are not just racing; they're pioneering a Web3 legacy on the F1 tracks! ๐Ÿ†๐Ÿ’ป

source: here


Bitfinex Dodges a Digital Bullet: The XRP Exploit Attempt! ๐Ÿ›ก๏ธ๐Ÿ’ป๐Ÿšซ

Hold onto your crypto hats! Bitfinex, a major crypto exchange, recently dodged a cunning cyber attack. ๐Ÿ•ต๏ธโ€โ™‚๏ธ๐Ÿ’ฅ An attacker tried to exploit XRP's partial payments feature to hoodwink the exchange, but here's the kicker - they totally flopped. ๐Ÿšซ๐Ÿ”’

Whale Alert, the blockchain watchdog, initially flagged a mind-boggling $15 billion XRP transaction. That's a hefty 25.6 billion XRP, nearly half of XRP's circulating supply, supposedly moving to Bitfinex. ๐Ÿ‹๐Ÿ’ฐ But plot twist: it was all part of this failed exploit attempt.

Hereโ€™s the techy bit: the attacker hoped Bitfinex hadnโ€™t tweaked its system to handle partial payments properly. They wanted to send a tiny amount but make it look like a gigantic one, tricking Bitfinex into crediting them the difference. ๐Ÿค‘๐Ÿ’ธ But Bitfinex wasn't fooled - they had their 'delivered_amount' data field in check.

And Bitfinex wasnโ€™t the only target. The attacker also tried to pull a fast one on Binance with a whopping 58.9 billion XRP transfer. Spoiler alert: they failed there too. ๐Ÿฆ๐Ÿšจ It's a high-stakes game of digital cat and mouse, and this time, the exchanges won. ๐ŸŽ‰๐Ÿ”

source: here


Trezor's Troubles: A Security Slip-Up Exposes User Info! ๐Ÿšจ๐Ÿ”’๐Ÿ’ป

Trezor, the popular hardware wallet brand, found itself in a bit of a pickle on January 17, 2024. They've hit a cybersecurity snag, with an unauthorized intruder gaining access to their system. ๐Ÿ˜ฑ๐Ÿ•ต๏ธโ€โ™‚๏ธ

This wasn't just a random break-in. The culprit got their hands on the names and email addresses of customers who had chatted with Trezor Support since December 2021. That's a whopping 66,000 users caught in this digital dragnet! ๐Ÿ“ง๐Ÿ”“

While no financial info or sensitive wallet data were compromised, it's still a wake-up call for Trezor and its users. It's a reminder of the ever-looming threats in the digital world, especially when it comes to crypto. ๐Ÿ›ก๏ธ๐Ÿ’ฌ

For now, Trezor is on high alert, investigating the breach and urging users to stay sharp against potential phishing attacks. It's a rough spot for a brand built on security, but a crucial lesson in the relentless pursuit of digital safety. ๐Ÿ•ต๏ธโ€โ™€๏ธ๐Ÿ”๐Ÿ’ผ

source: here


Ronaldo's Binance Battle: A Legal Kick-off in Crypto Land! โšฝ๏ธ๐Ÿ›๏ธ๐Ÿ’ผ

Cristiano Ronaldo's partnership with Binance has landed him in hot legal waters. A group of Binance users have filed a class-action lawsuit against the soccer superstar, accusing him of misleading them through his promotion of the crypto exchange. ๐Ÿค”โš–๏ธ

The plaintiffs, feeling duped by Ronaldo's endorsement, are pulling out all stops to serve him. They're using creative methods like emails, social media, and even a dedicated website to deliver their legal notice, as Ronaldo's current address remains elusive. ๐Ÿ“ง๐Ÿ’ป

This lawsuit stems from claims that Binance clients suffered losses because of Ronaldo's promotion, particularly his NFT collections linked to the platform. The suit points fingers at a failure to disclose payments for crypto endorsements, as warned by the U.S. SEC. ๐Ÿšจ๐Ÿ“‰

It's a clash of football fame and the volatile world of crypto, highlighting the risks of celebrity endorsements in this high-stakes digital arena. Ronaldo's case is more than a legal tussle; it's a cautionary tale in the rapidly evolving landscape of crypto marketing. ๐ŸŒŸ

source: here ย 


And that wraps up this week's Crypto Weekly Digest!

From Trezor's tight scrape to Ronaldo's courtroom hustle, and Bitfinex's savvy against an XRP exploit, it's been a week full of surprises and lessons.


As always, stay vigilant, stay informed, and we'll be back next week with more crypto insights and updates. Keep your wallets secure and your investments savvy! ๐ŸŒ๐Ÿš€


January 23, 2024