Facebook's Failed 'Diem' Stablecoin Now Officially Over

Facebook had dreams of launching its own cryptocurrency called Diem (formerly Libra) but the company has called it quits (link to original PR piece here, commentary from The Verge below).

The sale of Diem’s assets marks the end of an effort that, in retrospect, was doomed from the start. Facebook, which now goes by Meta, created the apps that would have been the main way people used the token. So even though Facebook formed the Libra Association to govern the token with other companies, people were immediately fearful that Libra would make the controversial tech giant even more powerful. Plus, members of the Libra Association started to drop out, just months after the group had been announced.

An NFT on OpenSea Can Steal Your IP Address

An NFT found on the OpenSea marketplace can steal visitors’ IP addresses, according to a repot from Motherboard.

Of course, websites often collect and store visitors’ IP addresses in virtue of how the sites function. OpenSea itself likely collects the IP addresses of visitors, like plenty of other sites, apps, or services. But here, an outside third party—the NFT seller—is able to gather information themselves on the people viewing the NFT, potentially without them knowing.

A Crypto Wallet Crack Recovered $2 Million in Tokens

The Verge had a fascinating story out yesterday about a crypto wallet crack that helped two friends get their tokens back. It’s a long-ish read but not overly technical.

Reich gave up and wrote off the money in his mind. He was willing to take the loss — until the price started to rise again. From a low of around $12,000, the value of their tokens started to skyrocket. By the end of 2020, it would be worth more than $400,000, rising briefly to over $3 million. It would be hard to get into the wallet without the PIN — but it wasn’t impossible. And with potentially millions on the line, Reich and his friend vowed to find a way inside.

Coinbase Creates Center to Help With Crypto Taxes

Worried about crypto taxes? Coinbase has created a tax center on its platform to help.

Customers will see all of their taxable activity in one place to determine if they owe taxes, and how much. If they’ve taken more advanced steps like sending or receiving crypto from Coinbase Pro or external wallets, they can receive free tax reports for up to 3,000 transactions from our crypto tax partner CoinTracker. The most complicated time of the year just became more clear.

Twitter NFT Profile Photos Roll Out to iOS Subscribers

Twitter NFT profile photos are rolling out to members of the Twitter Blue subscription in the U.S., Canada, Australia, and New Zealand.

At launch, Coinbase Wallet, Rainbow, MetaMask, Ledger Live, Argent, and Trust Wallet are supported. After authenticating, you’ll select the NFT you want to showcase. Twitter says that, currently, JPEG and PNG NFTs minted on the Ethereum (ERC-721 or ERC-1155 tokens) can be used as NFT Profile Pictures.

'Cash App' From Block Now Supports Bitcoin Lightning Network

Block, formerly known as Square, has added support for Bitcoin’s Lightning Network upgrade. This lets users send bitcoin to anyone around the world within seconds.

The Lightning integration is made possible by the Lightning Development Kit created by Spiral, which is funded by Block. Cash App customers will also be able to send bitcoin to any compatible wallet that accepts Lightning Network payments, without being charged fees.

What is Web3? Explaining the Technology Stack in This New Ecosystem

A recent report from Coinbase examines the web3 stack, or the various protocols and blockchain technologies that make up the ecosystem.

Where a third party like Facebook owns your identity and data in Web2, your identity in Web3 can move fluidly between platforms without your data being captured and monetized by service providers. While Web2 apps are centrally controlled, tokens in Web3 grant users the right to help govern the services they use, representing a form of ownership in the platforms themselves.

Coinbase Plans Four Weeks of Employee Relaxation in 2022

This year Coinbase plans to give employees four weeks of recharge time after the intensity of the crypto boom in 2021.

We know this approach wouldn’t work for every company, and we also know Coinbase isn’t for everyone. But if you want to work at the cutting edge of crypto and tech — and if you’re excited about pushing your skills to the limit while knowing you’ll have regular opportunities to recharge — there’s no better place to be.