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Krystal Newsflash (6th Jan 2023)

●   2 min

Welcome to our first recap of the major stories for 2023! Here’s what has happened over the past week: 

SBF pleads NOT guilty 🙅‍♂️

At the start of the New Year, SBF did not plead guilty to any of the 8 criminal charges he was charged with.

This comes after the collapse of FTX, and when his colleagues, Caroline Ellison and Gary Wang, both pleaded guilty to multiple charges.

Upbit eyes sports crypto sector 👀

Despite the decrease in sports sponsorships by crypto companies, South Korea crypto exchange Upbit seems to be taking an interest in this sector.

The exchange has signed a sponsorship agreement with the Italian football club Napoli,

And they have listed 7 new fan tokens as part of the Chiliz ecosystem.

The sports sector has been seen as a huge opportunity for crypto adoption, particularly as there are many fans that are loyal to their teams.

It is interesting that Upbit has decided to go ahead with the Napoli sponsorship, especially since its Q3 profits dropped by 73%.

Indonesia plans to launch new crypto exchange 🚀

After clamping down on crypto payments in 2021, Indonesia is looking to set up a crypto exchange in the country.

Indonesia is shifting oversight of cryptocurrencies to the Financial Services Authority (FSA) as crypto is being recognised as an “investment and financial instrument”.

This comes at a time when the trading volumes on centralised exchanges are now the lowest in 2 years.

If you are still holding funds on a centralised exchange, and are looking for a safer way to store your funds, why download the Krystal wallet?

We support 10 EVM-compatible networks (including Ethereum, Polygon, BSC) and Solana, providing you with a true multi-chain experience.

Crypto COO falls for phishing scam 🤦‍♂️

The COO of RTFKT, a NFT platform owned by Nike, had his NFTs drained from his wallet.

Based on Nikhil Gopalani’s description, it seems that someone could have done a phishing attack which resulted in the hacker gaining access to his wallet’s private keys.

We highly recommend that you store your seed phrases and private keys offline, and not on any cloud services where they may be stored online.

You can find out more about keeping your wallet secure in our article here.

Avalanche 🤝 Shopify

You are now able to create, mint and sell Avalanche NFTs directly on the Shopify platform.

Minimal technical knowledge’ is required by merchants to sell NFTs. 

What’s more, buyers of these NFTs do not need an existing crypto wallet to purchase them, which makes the process of buying and selling NFTs so much easier.

As more Web2 companies are embracing Web3 technology, this could help even more users dabble in the blockchain without much of a hassle.

🔍 Navigate the DeFi Space NOW with Krystal!

Start your journey NOW on Desktop, iOS or Android

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