Welcome to our recap of the major stories in the crypto world! Here’s what has happened in the past week:
FIFA Partners With Algorand
Ahead of the 2022 FIFA World Cup, Algorand has been announced as their official blockchain platform.
BREAKING: @FIFAcom has announced #Algorand will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more 👉 https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6
— Algorand (@Algorand) May 2, 2022
Cryptocurrencies are becoming a huge part of sports and football, particularly with NFTs and fan tokens.
https://t.co/2FROhSNgw8: What You Need To Know
👇A Thread pic.twitter.com/7BaziECFAl
— Socios.com (@socios) April 19, 2022
As such, it does make sense that FIFA is tapping into this popular trend.
This further signals the adoption of cryptocurrencies by major companies, and it will be exciting to see what’s in store for the sporting industry!
While we currently do not support the Algorand blockchain, you may never know in the future, so do keep an eye out for that! 👀
Rewards On Crypto.com SLASHED
The popular Crypto.com Visa Card has announced major changes to their rewards programme.
💳 https://t.co/vCNztABJoG Visa Cards Update: changes to the CRO Card rewards programme
🗓️ Effective 1 June 2022
✅ No change to card terms until your active 180-day stake expires
✅ No change to 100% reimbursements of popular subscriptions & unlimited airport lounge access pic.twitter.com/LZFHaW46hD
— Crypto.com (@cryptocom) May 1, 2022
Here is a summary of the changes:
- Lower CRO cashback for purchases
- Cap of CRO cashback each month (except for Icy White, Frosted Rose Gold, and Obsidian cards)
- Reduction in CRO staking rewards (for Jade Green, Royal Indigo, Frosted Rose Gold, Icy White, and Obsidian cards)
The staking rewards were initially removed, before the backlash from the community caused Crypto.com to change their decision and reduce the staking rewards instead.
The community has been really vocal with regards to the changes to the card program announced yesterday. We care deeply about the community, we hear you & always listen to you.
As a result, we're revising card staking rates. 🧵
— Kris | Crypto.com (@kris) May 3, 2022
This was the second change in the Crypto.com ecosystem, after they previously reduced their rates on Crypto.com Earn.
Crypto Earn changes effective 1 June 2022:
✅ New tier added to the current tiered rewards structure
✅ Revised rates for flexible-term allocations
Visit our blog for more details 👉 https://t.co/5SluXvtHJM pic.twitter.com/IyS5Vj1MQR
— Crypto.com (@cryptocom) April 29, 2022
Nevertheless, Kris Marszalek, CEO of Crypto.com, mentioned that Crypto.com provides a gateway to the Cronos chain.
A lot of innovation is coming to Cronos, including attractive yields for the community. https://t.co/pFc4Pz9nFR will make it all easily accessible.
Thank you for your feedback and continued support 🙏
— Kris | Crypto.com (@kris) May 3, 2022
With the yields on centralised platforms starting to decrease, there are still many opportunities in the decentralised (DeFi) space.
Krystal supports the Cronos chain, along with 7 other blockchains, to provide you with the best DeFi trading experience!
Seed Phrases Can Be Hacked!
A German IT professional posted this Reddit thread on how predictive text could allow hackers to guess your seed phrase.
If you ever type your seed phrase into your phone, you might want to read this 🚨https://t.co/VQoUB7aZ0B
— CoinMarketCap (@CoinMarketCap) May 2, 2022
If hackers get hold of your phone with predictive text turned on, hackers may be able to guess your seed phrase as long as they know the first word in your 12 or 24-word phrase!
It is extremely important to keep your seed phrase secure, and you can find out the best ways to store your seed phrase in this article we wrote.
To prevent the risk of this happening, you may want to clear the cache on your predictive keyboard after you have entered your seed phrase (on iOS and Android).
What are your thoughts on FIFA adopting blockchain technology? Will you still be using your Crypto.com Visa Card? Do tweet us or send us a message on Telegram to let us know!
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