According to reports on Oct. 28, the crypto exchange Binance intends to create a team to work on crypto and blockchain solutions for Twitter, following the acquisition of the social media company by tech billionaire Elon Musk. The development came hours after Binance's founder and CEO, Changpeng Zhao, or CZ, confirmed that the company had backed Musk with $500 million in financing, making the crypto exchange the fourth-biggest contributor to the takeover amid 19 investors that provided $7 billion to Tesla's founder. On Twitter, CZ confirmed that the money was wired earlier this week and clarified that the transaction was …

Some two billion WhatsApp users were left without service on Oct. 25 as the biggest messaging application worldwide went offline. Meta, the owner of Facebook and WhatsApp, is yet to clarify what led to the outage. Users took to social media platforms like Twitter to share hilarious memes about the outage, with many flocking to alternative social media platforms to find out if they were alone in their lack of service. A similar situation took place in October 2021, with Facebook, Instagram and WhatsApp going down for more than 24 hours due to a “server configuration change.” WhatsApp is down. …

Twitter co-founder and former CEO Jack Dorsey have lifted the curtain on the latest iteration of its social protocol and a new Bluesky Social app — as part of its decentralized answer to Twitter. The Oct. 18 announcement comes nearly three years since the initiative was announced by Dorsey in December 2019, with the aim that social media users should have control over their data and be able to move it from platform to platform without permission. The new protocol has been renamed from “ADX” to “Authenticated Transfer Protocol” — or AT Protocol — and is described as a “protocol …

The future of how we socialize online is being defined as we speak, and it’s far too important to leave things to the likes of Meta and other mega social companies. Just a surface-level look at Meta’s history is enough to understand its tendency to severely miss the mark. Some companies like to use Web3 principles to right the wrongs of Web2. And as a poster child for large, centralized organizations, Meta offers us some of the most useful examples of those wrongs. Let’s touch on three times that Meta fell short of building the future of online social experiences. …

While some anticipate that more people will naturally get into crypto due to inflation, the reality is far from some community members’ expectations. A discussion in the r/cryptocurrency subreddit highlighted this topic and explored why higher inflation is not pushing more people into the crypto space. According to a Reddit user, events like the United States Federal Reserve printing more money and the government spending more and more funds have led them to the conclusion to get into crypto as one of its functions is to hedge against inflation. The Redditor posted that they expected more people to do the …

The crypto world is going through a transformative chapter that is bound to revolutionize how the internet works and how online communities interact, and social tokens are at the heart of the latest inflective developments. Their rise comes at a time when transactional frameworks, such as Web3, are gaining popularity, especially among crypto enthusiasts. Social tokens support the democratization of social networks by enabling brands, influencers and businesses to create and monetize their own online communities using blockchain technology. Daniel Nagy, vice president of Swarm — a decentralized data storage and dispensation firm — spoke to Cointelegraph regarding the new …

The innovation and, as a result, the booming popularity of social media started at the beginning of the century with the concept of the online social graph. This specific data structure draws a line between social networks’ users and the people, places and things with which they interact. However, time has shown that the major social media platforms have several disadvantages related to centralization. The flagships of the change are likely to be sprouts of current Web3 projects. What is Lens Protocol? Lens Protocol is a blockchain-based open-source social graph created to reshape the future of social media concepts in …

Barring another change of heart and certain conditions to be met, Elon Musk’s acquisition of Twitter looks set to go ahead, prompting the question of whether some or all of the changes he initially hinted for the platform will become a reality. The platform is a popular communication and news tool for crypto enthusiasts, users and investors, not to mention crypto scammers, with the social media platform seeing roughly 120,000 tweets per day about #Bitcoin alone, according to BitInfoCharts. Looking back at Musk’s initial commentary when he proposed a buyout of Twitter could shed some light on what changes he …

The Securities and Exchange Commission announced on Oct. 3 that Kim Kardashian settled an allegation that she promoted “a crypto asset security offered and sold by EthereumMax without disclosing the payment [of $250,000] she received for the promotion.” While she cooperated and closed the case with $1.26 million in penalties, the charge highlights the liability that “influencers” increasingly face as a result of an activist SEC that has failed to establish regulatory clarity. Pushing influencers to leave the United States Addressing the agency’s action against Kardashian, Jacob Robinson, a legal scholar and host of the Law and Code podcast, noted …

In July 2021, TikTok hit three billion downloads. The social network boasts more than one billion active monthly users. And, in the United States, TikTok is now more popular with Generation Z than Instagram. Over the last six months, Bitcoin (BTC) has seen a drop of more than 70% from its all-time high north of $69,000 in 2021. Market volatility is to be expected. But, if decentralized finance (DeFi) is looking to have a future, it needs to be embraced by more people. The aforementioned volatility (as well as the cynicism of cryptocurrency in general) puts many investors off. Fortunately, …

So, is blockchain ready to take on the Metaverse journey? In essence, the ideal metaverse must be on blockchain rails, which mandates inclusive incentives centered around creators and users while still offering immersive and seamless virtual experiences. The Metaverse is not just about the experiential elements; it is also about the economic aspects. The financial incentives must be centered around the real value creators. Those who create content, and regularly interact and transact on the platform are the ones who are creating value. While the economic model possibilities are exciting, and several hopeful glimpses of these possibilities have emerged, there …

Avalanche-based lending protocol Nereus Finance has been the victim of a crafty hack that saw a user net $371,000 worth of USD Coin (USDC) using a smart contract exploit. Blockchain cybersecurity firm CertiK was one of the first to detect the exploit on Sept. 6, indicating that the attack impacted liquidity pools on Nereus relating to decentralized exchange Trader Joe and automated market maker Curve Finance. CertiK also suggested that underlying protocols themselves were impacted, however, Curve Finance responded via Twitter on Sept. 7, stating “maybe you meant ‘assets impacted,’ not ‘protocols impacted’. Only @nereusfinance and its assets seem impacted.” …