NFTs are coming to Instagram, says Mark Zuckerberg

Mark Zuckerberg, CEO of Meta, confirmed that non-fungible tokens (NFTs) will be coming to Instagram in the “near-term”. Many have predicted that users will be able to mint new NFTs on Instagram and share those already in their collection. Zuckerberg said he hopes one day that users will be able to mint the clothes of their digital avatars as NFTs. However, he admitted there is still a lot of work to do before that can happen. 

Crypto prices today: Bitcoin rises 3%, ETH up 4.7%

Bitcoin is currently trading at $39,501, a 2.99% increase over the previous day. Ethereum is up 4.7% over the last 24 hours to $2,641.5. Solana rose 4% to $82.42, while Cardano is trading higher by 1.4% at $0.8005. Polkadot (DOT) jumped 5.2% to $18.1. The global crypto market cap stands at $1.76 trillion, a 2.82% increase over the previous day.

American Express files trademark applications for Metaverse and NFT logos

American Express has filed seven trademark applications linked to virtual services and its iconic Centurion logo. The company is joining financial peers JP Morgan, Visa, and Mastercard in exploring Web3 applications of its intellectual property (IP). American Express may develop its footprint in the metaverse, a future vision of the Internet that could be more immersive by using virtual reality (VR) and augmented reality (AR) headsets. 

Afghans turn to crypto amid US sanctions

Since the Taliban’s takeover, Afghanistan’s economy has collapsed due to US sanctions, failing banks, and the drying up of foreign aid. However, crypto has come to the rescue of Afghans. Many are now using Binance’s P2P crypto exchange. It allows them to buy and sell their coins directly with other users on the platform. In 2021, data firm Chainalysis gave Afghanistan a rank of 20 out of the 154 countries it evaluated in terms of its crypto adoption.

DeFi lending protocol Agave’s AGVE crashes ~25% amid exploit investigation

AGVE, the token of lending protocol Agave, has fallen over 25% after the company said it is looking into an exploit. Hundred Finance, a multi-chain lending protocol on the Gnosis chain, was also attacked. According to blockchain security researcher Mudit Gupta, the attack vector in both cases was a “re-entrancy attack” (similar to Trojan Horses).

Governments see crypto as an ‘evolving threat’: Edward Snowden

Governments see crypto as an “evolving threat,” according to whistleblower Edward Snowden. Speaking at Camp Ethereal 2022, he discussed how global governments are threatened by crypto disrupting the regulatory status quo. The United States has routinely raised alarm bells about the use of crypto in undermining national security.