Cryptocurrencies: Facebook’s digital wallet for free money

A visual representation of cryptocurrencies.

After a few big industry milestones, the top cryptocurrencies are up for the week.

Bitcoin topped $66,000 on Wednesday, after the first US bitcoin futures exchange-traded fund debuted on the market on Tuesday. Coin Metrics says it’s currently worth roughly $62,728.

On Thursday, Ether surpassed $4,366. It’s presently roughly $4,179.

The six other notable crypto-related events from the past week.

The first bitcoin ETF based on US futures

The ProShares bitcoin ETF debuted on the New York Stock Exchange on Tuesday under the ticker “BITO.”

The bitcoin futures ETF tracks contracts that speculate on the digital asset’s future price rather than the current or “spot” price. As a result, the ETF and bitcoin will not match.

In spite of this, CNBC reported that the ProShares bitcoin futures ETF raked in $550 million on its first day.

Senators ask Novi to be shelved

On Tuesday, Senate Democrats sent a letter to Facebook CEO Mark Zuckerberg urging him to scrap his company’s digital wallet project, Novi.

The letter came after Facebook launched its Novi trial program in the US and Guatemala on Tuesday.

“Facebook cannot be trusted to administer a payment system or digital currency,” the letter stated. “We demand that you stop using Novi pilot immediately and promise not to market Diem.”

Diem is Facebook’s abandoned digital money initiative. Instead of Diem, Facebook will employ a stablecoin called the Paxos Dollar. Money would be sent and received using the Paxos Dollar, with Coinbase as a custody partner.

Worldcoin scans eyeballs for free cryptocurrency

Founded by Silicon Valley tech millionaire Sam Altman, offers to deliver free bitcoin to anyone who verify their accounts with an iris scan.

Worldcoin claims to have sold scanning devices in 12 countries.

To preserve users’ privacy, Worldcoin said that after their iris scanned, the image encrypted and becomes a unique code. Then users get free Worldcoin cryptocurrency.

Worldcoin already has over 100,000 users and is adding 700 every week. By 2023, the startup wants 1 billion users.

1,000,000 on Robinhood’s crypto wallet waitlist

On Thursday, Robinhood CEO Vlad Tenev revealed the trading app’s crypto wallet has over a million subscribers on the queue.

“You may have a wallet and send cryptocurrency to other people,” Tenev explained. “Technological benefits make it kind of worldwide and accessible by default, which makes it really interesting.”

A wallet function that allows investors to trade, send, and receive cryptocurrency introduced last month. The Robinhood app will also allow users to transfer bitcoins.

Mastercard claims its network banks and merchants can soon offer cryptocurrencies services

According to CNBC, Mastercard will soon allow banks and retailers on its payments network to accept cryptocurrencies.

This includes bitcoin wallets and credit/debit cards that allow users to earn or spend bitcoin.

Mastercard has teamed up with Bakkt, a digital asset platform, to offer custodial services to sign-ups.

New central bank digital money in Nigeria

The eNaira, a central bank digital currency, went live on Monday, according to CoinDesk.

The first 500 million eNaira, or $1.21 million minted, according to Nigerian central bank governor Godwin Emefiele.

The eNaira meant to complement, not replace, the actual money.

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