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Binance, the world’s largest cryptocurrency exchange by trading volumes, is making a strategic investment in the 104-year old magazine Forbes to improve consumer understanding of cryptocurrencies and blockchain.

Forbes and Magnum Opus Acquisition Limited, a publicly-traded special purpose acquisition company (S**C), officially announced Thursday securing a $200 million strategic investment from Binance.

“Media is an essential element to build widespread consumer understanding and education,” Binance CEO CZ said.

According to Forbes CEO Mike Federle, the investment from Binance will help the firm get t“experience, network and resources of the world’s leading crypto exchange and one of the world’s most successful blockchain innovators.”

“Forbes is committed to demystifying the complexities and providing helpful information about blockchain technologies and all emerging digital assets,” he noted.

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Kpop NFTs: Binance and YG partnership will prioritize sustainability

A new partnership between global crypto exchange Binance and South Korean entertainment company YG will see the two companies strive for a more sustainable framework for future NFTs collaborations.

YG manages a number of notable Kpop stars including BLACKPINK, BIG BANG, and WINNER. The Feb. 8 announcement stated the Memorandum of Understanding (MoU) will reportedly give Binance access to develop digital assets based on the IP (intellectual property) associated with these artists.

Global Head of Binance NFT Helen Hai said the platform will be working “closely with YG to create an eco-friendly ecosystem for NFTs.” She added that the company believes “that it is important to promote the use of sustainable blockchain platforms.”

YG CEO Bo Kyung Hwang shared the sentiment, adding that the companies hope to “steadily build an innovative and eco-friendly NFT ecosystem.”

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American Express: Crypto Rewards Possible; Card Still Unlikely

During a recent Yahoo! (NASDAQ:AABA) Finance interview this Tuesday, American Express CEO Stephen Squeri shared his thoughts on the company’s future with cryptocurrency.

" We have watched government-based digital currencies very, very carefully. We are exploring other ways to potentially redeem your membership and rewards points, but I don’t think you are going to see an American Express card linked to cryptocurrency anytime soon."

The American Express CEO has been known to be cautious about his approach towards cryptocurrency. In an interview in October 2021, he expressed his rejection of the idea of cryptocurrency being a real currency. Squeri pointed at Bitcoin’s volatility from the fact that its value lowered by 50% in only two months.

Moreover, Squeri stated that the two payment methods are just fundamentally different. He claimed the values that occur within a credit card don’t lend themselves well to cryptocurrency.

Despite this, he mentioned that the company is closely watching government-based digital currencies and that the Amex card has been involved with stablecoins.

Meanwhile, American Express competitors Visa (NYSE:V) and Mastercard (NYSE:MA) have already engaged in crypto-related partnerships.

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YouTube will explore NFT features for creators

YouTube is exploring features for its video creators to capitalize on non-fungible tokens, its chief executive officer said on Tuesday, becoming the latest tech company to tap into a digital collectibles craze that has exploded in the past year.

"We're always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube,"

wrote YouTube CEO Susan Wojcicki in a letter on the company's 2022 priorities.

NFTs are a type of digital asset which exist on the record-keeping technology blockchain. They have seen a surge in popularity over the last year, with people buying artwork and video highlights from sports games as NFTs.

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Spellfire to Gain New Level of Visibility With Huobi Primelist on Jan. 27th

Spellfire, the first to introduce touchable NFT cards, announces it will be listed on Huobi Primelist this January 27, 2022. In addition to the listing, Spellfire revealed that its SPELLFIRE token will launch on two launchpads — Doamaker and GameFi on 25th and 26th January, respectively.

This means the coming days will be filled with arrays of activities for the Collectible Card Game (CCG) players and the Spellfire camp. Spellfire asserts that gaining a Primelist ensures it keeps building on its reputation while obtaining a new level of visibility.

According to Spellfire’s team, listing on Huobi will provide its community with a seamless way to access the SPELLFIRE token. Eventually, it will open a new opportunity for them to harness potential players and investors.

This announcement comes just after the funding rounds were announced to be completed. The project has so far raised $3.8 million and is backed by industry heavyweights such as DAO Maker and Shima Capital.

As per reports, the game is one of the first on the market to feature touchable NFT cards. More so, each NFT comes in both a physical and digital form, is completely upgradeable, and collectible.

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White House Wants to Flex on Crypto Next Month with Executive Order!

Bloomberg reported that members of the Biden White House are working on a sweeping executive order regarding cryptocurrencies that contains roles and responsibilities for a large section of the executive branch of government.

Thus far, Congress, the Treasury Department, the Federal Reserve, the Securities and Exchange Commision, as well as the Presidential Working Group have all been haphazard in their policy approach – or lack thereof – regarding cryptocurrencies.

It’s reported that the president’s executive order will require virtually all federal agencies to assess the challenges, opportunities, and threats that the crypto asset class presents. It’s also expected that the agencies will have to present an outline or framework report in the second half of this year, as to how they can most effectively address those dynamics posed by crypto within their respective areas of oversight and responsibility.

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The NFT trend isn’t going anywhere, and it might soon become a big part of social media platforms. Meta has set goals for entering the $40 billion NFT industry. The tech giant plans to help users create and sell digital collectibles and allow to display NFTs on Facebook (FB: NASDAQ) and Instagram accounts.

The teams from Meta are working on features that will enable users to show off NFTs on their social media profiles, as well as allow users to mint and own NFTs, using the company’s Novi wallet.

Financial Times reported that Meta’s move to embrace NFTs came from Mark Zuckerberg’s comment that “NFTs could one day be wielded to support a market for digital goods in its planned metaverse.”

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Opera announces beta of its new Web3-focused ‘Crypto Browser’

The beta browser offers a built-in non-custodial wallet, available now to Windows, Mac and Android users.

Opera, the Norway-based company behind the popular internet browser, has released the beta version of its new Crypto Browser Project. This crypto browser aims to facilitate the user experience of browsing decentralized applications (DApp), games and metaverse platforms by offering direct access to Web3 services for Windows, Mac and Android users.

The current Opera browser boasts a no-login VPN and native ad and tracker blocker that help to make it secure. According to a release shared with Cointelegraph, the new crypto browser will maintain these security features while integrating direct access to decentralized exchanges, (NFT) and gaming DApps, as well as Telegram and Twitter support.

Jorgen Arnesen, EVP mobile at Opera, stated that the main goal of the project is to help crypto and Web3 become more mainstream:

“Opera’s Crypto Browser Project promises a simpler, faster, more private Web3 experience for users. It simplifies Web3 user experience that is often bewildering for mainstream users. Opera believes Web3 has to be easy to use for the decentralized web to reach its full potential.”

A built-in non-custodial wallet will support Ethereum in beta and, thanks to recent partnerships, will soon extend to Polygon, Solana, Nervos Network, Celo and naming systems, such as Unstoppable Domains, Handshake and Ethereum Name Service. Opera’s integration with Polygon is expected to go live in the first quarter of 2022.

The wallet supports both fungible ERC-20 standards as well as nonfungible ERC-721 standards, with ERC-1155 coming in Q1 2022. Users will also be able to purchase crypto via a built-in fiat-to-crypto on-ramp, complete crypto-to-crypto swaps and even access a built-in NFT gallery.

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Walmart Inc. is preparing to create its own cryptocurrency and collection of non-fungible tokens, filings with the U.S. Patent and Trademark Office show, setting the stage for meeting its customers in the emerging metaverse.

The retailer sought several new trademarks in December that show it intends to make and sell virtual goods such as electronics, decor, toys, sporting goods and personal-care products.

The applications, which were first reported by CNBC, represent a significant step for the retail giant as it studies how to participate in the metaverse, a virtual world that blends aspects of digital technologies.

The applications were among a flurry the company filed on Dec. 30, including three under “Walmart Connect” — the name of the company’s existing digital advertising venture — for a financial exchange for virtual currency and advertising. Applications also were filed for “Verse to Store,” “Verse to Curb” and “Verse to Home” for shopping services. It’s also seeking trademarks to apply the Walmart name and “fireworks” logo to heath-care services and education in virtual and augmented reality.

“Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” the company responded in an emailed statement.

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Visa: One in Four Businesses Surveyed Plan to Accept Cryptocurrency Payments This Year

Payments giant Visa has conducted a survey of small businesses and found that almost a quarter of those who responded plan to accept cryptocurrency payments this year. “I think more people are feeling more confident with crypto,” said a Visa executive.

Small Businesses in 9 Countries Plan to Accept Cryptocurrency This Year

Visa published a study on digital payments Wednesday. It was conducted by Wakefield Research in December 2021 and included a survey of 2,250 small business owners with 100 employees or fewer in Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, United Arab Emirates, and the U.S.

Visa described that a path forward for small and micro businesses (SMBs) in 2022 includes “Going long on digital payments – even crypto.” The payments giant detailed:

"Of those surveyed, 24% said they plan to accept digital currencies such as the cryptocurrency bitcoin."

The company elaborated: “An overwhelming 82% of SMBs surveyed said they plan to accept some form of digital option in 2022 and 73% see accepting new forms of payments as fundamental to their business growth.”

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Rising inflation rates make scarce assets like Bitcoins (BTCs) increasingly attractive. Bitcoin is not only the oldest, most decentralized, and best-known cryptocurrency - a distinctive feature compared to other cryptocurrencies is its limited supply of 21 million BTCs. Against the backdrop of Bitcoin's institutional adoption and the greater demand that comes with it, it is very much within the realm of possibility that the BTC price will rise to more than $100,000 USD this year.

But the overall crypto asset market will also grow. Since the beginning of 2021, the USD prices of the largest 20 cryptocurrencies listed on CoinMarketCap by market cap have increased by triple digits. It is noticeable that many native cryptocurrencies from alternative Layer-1 blockchain protocols (Alt-L1s), which are traded as potential Ethereum killers (such as Solana, Binance Smart Chain, Cardano, Polkadot, Avalanche), are among the top 20.

Of course, investments in the crypto asset market are riskier than traditional investment opportunities, partly due to higher price volatility. Nevertheless, it is fair to contrast the price performance of cryptocurrencies with those of well-known market indices. For example, the MSCI World Index is only 17% higher than it was at the beginning of 2021, and the gold price trend is currently negative. Also, the increasing number of wallet addresses, for example, measured by monthly active users of the MetaMask wallet (10 million active monthly users currently), indicate that demand for crypto investment opportunities will continue: DeFi offers double-digit interest rates through liquidity provision, lending, and staking, whereas banks in developed countries quite often offer less than 2% on savings.

Authors: Prof. Dr. Philipp Sandner, Jong-Chan Chung, Frankfurt School Blockchain Center
Source: Forbes

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Billionaire Investor Bill Miller Now Has 50% of His Personal Wealth in Bitcoin. Why?

Miller said he personally started buying bitcoin at around $200 in 2014 after hearing a talk by Wences Casares, known as the “Patient Zero” of bitcoin for introducing it to Silicon Valley circles, at the annual Sun Valley media and tech conference.

He bought some more bitcoin over time, but then didn’t buy it for years, until last year when the price hit new highs and then started to fall sharply, and he thought it was a good time to buy the dip. Miller started buying again at $30,000, down from its high of just under $69,000, reasoning that there were a lot more people using it, not to mention that venture capitalists and others were investing in it.

Miller noted that a part of his personal bitcoin investments was in companies tied closely to its price, such as bitcoin miner Stronghold Digital (SDIG) and software company MicroStrategy (MSTR), which holds billions of dollars’ worth of bitcoin on its balance sheet.

Miller said he thinks bitcoin is best thought of as “digital gold” with a strictly limited supply and that he’s only recently allowed himself to be called a “bitcoin bull” rather than just a “bitcoin observer” because he feels that it’s now developed into a game-changing technology.

Miller say, “I think the average investor should ask himself or herself, what do you have in your portfolio that has that kind of track record – number one, is very, very under-penetrated; can provide a service of insurance against financial catastrophe that no one else can provide and can go up 10 times or 50 times?

The answer is: nothing.”

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Bitcoin topped $42,500 on Sunday after reaching its lowest mark since late September the day before; ether reaches over $3,200.

Bitcoin pushed past the $42,000 level over the weekend, after last week’s broad market bloodbath, which sent the No. 1 cryptocurrency by market capitalization spiraling toward $40,000 from about $48,000. At the time of publication, ether and most of the altcoins in CoinDesk’s top 20 by market capitalization were up, although still way down over the past week.

Bitcoin and most other cryptocurrencies fell last week amid the Federal Reserve’s release of minutes from its December meeting. The Fed signaled that it would tighten monetary policy faster than was once expected.

The leading cryptocurrency fell to as low as $40,505.3 on Coinbase on Saturday, its lowest level since Sept. 21, before it rebounded above $42,000, data from TradingView and Coinbase show.

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Global investment bank JPMorgan has published a report on the future outlook of crypto markets, including Ethereum’s upgrades, decentralized finance (defi), and non-fungible tokens (NFTs). The bank sees “the cryptocurrency markets as increasingly relevant to financial services,” its analyst described.

JPMorgan analyst Kenneth Worthington published a report on the 2022 outlook for crypto markets Friday and below are the summary of the report 🔽

📍 The applications from crypto have only just begun. Web3.0, greater use of NFTs tokenization are in the line-of-sight for 2022.

JPMorgan sees “the tokenization and fractionalization as holding particularly large promise as transactions speeds in crypto become more competitive with trad-fi networks,” the analyst continued.

📍 Defi was a bit of a flop in 2021, but still has strong potential in 2022 and beyond.

The analyst explained that the development of crypto technology will continue, driven by the scaling of Layer-1 and the introduction and growth of Layer-2. He added that Ethereum’s Merge and Layer 2.0 introduction will speed up transactions and could significantly cut energy consumption.

📍 The use cases for crypto markets will continue to grow and new projects and tokens with more and different use cases will surface.

JPMorgan analysts noted that with these projects attached to tokens and Coinbase being a leading exchange to buy and sell tokens, “we see Coinbase as a leading direct beneficiary of crypto market growth.”

Worthington additionally said that if 2021 was the year of non-fungible tokens, then 2022 may be the year of the “blockchain bridge (driving greater interoperability of various chains) or the year of financial tokenization.”

The JPMorgan analyst opined:

"As such, we see the cryptocurrency markets as increasingly relevant to financial services."

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