Plus, is MicroStrategy's enthusiasm for Bitcoin cooling off after a 40% slump from all-time highs?
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Crypto.com has confirmed that 483 users suffered unauthorized withdrawals from their accounts after a hot wallet hack this week. A total of 4,836 ETH was taken during the incident — alongside 443.93 BTC and $66,200 in other assets. In cash terms, more than $33 million in funds was stolen, meaning the incident was far bigger than previously thought. Crypto.com has stressed that no customers have experienced a loss of funds — with most unauthorized withdrawals prevented.
Got an NFT avatar? You might soon be able to proudly display it as your profile picture on Facebook and Instagram. That's according to the Financial Times, which says the parent company of both social networks — Meta — is working on plans that would allow users to create and sell non-fungible tokens. The tech giant has engaged in discussions on whether to build a marketplace where NFTs could be traded, something that could prove calamitous for OpenSea, the current industry leader.
Cryptocurrencies are set to become a bigger part of Google Pay, according to reports. Bloomberg writes that the tech giant wants to entice users by making the most out of partnerships established with the likes of Coinbase and BitPay. As part of these collaborations, Google Pay users can store their crypto assets on digital cards, which can then be converted into fiat whenever a purchase is made. Arnold Goldberg, a former PayPal executive, is going to be running Google's payments division.
Michael Saylor has once again doubled down on his Bitcoin bet — vowing that MicroStrategy will never sell its vast cryptocurrency reserves. BTC is currently down 40% from an all-time high set back in November, but in an interview with Bloomberg, Saylor insisted that the digital asset still holds vast advantages over the dollar. When asked whether there is any temptation to offload the 124,391 BTC that MicroStrategy currently owns, he said: "Never. No. We’re not sellers."