Twitter to Integrate Cryptocurrency Wallet as Musk Looks to Expand Revenue Generation – Investors King Ltd

Social media giant Twitter is reportedly working on a cryptocurrency wallet that could support crypto deposits and withdrawals.
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Social media giant Twitter is reportedly working on a cryptocurrency wallet that could support crypto deposits and withdrawals.
Reports reveal that the project is already under development as the team on it is already working on a prototype.
According to blogger and software engineer, Jane Manchun Wong, who disclosed the news on Twitter, the crypto wallet will enable users to deposit and withdraw their funds without them having to rely on third-party services. Although, the company has not made an official announcement about this.
However, this is not the first time Twitter is delving into the crypto space. In September 2021, the social media platform permitted users to add their Bitcoin wallet address to their profile before it expanded in 2022 by also including an Ethereum address making it easy for people to make crypto payments.
In January 2022, the platform further deepened its crypto offering by introducing a new feature that allowed users to show off their NFTs, or non-fungible tokens. The company rolled out NFT Profile Pictures to its Blue subscribers on iOS by way of Twitter Blue’s early access Labs feature.
For its blue subscribers to access this feature, all they needed to do was simply go to their profile to change their profile photo where they were presented with a new option to choose an NFT, which they later get to connect with their crypto wallet.
With Elon Musk’s decision to purchase the platform, a billionaire who over the years has backed the evolution of cryptocurrency through his support for Dogecoin, a joke coin that metamorphous into a real project, few experts are now predicting that the Tesla CEO will likely incorporate into Twitter the option of making purchases and other payments in digital currencies like bitcoin, Ripple’s XRP, and Solana.
The Tesla boss has previously suggested that Twitter Blue subscriptions could be paid in his favorite meme coin, Dogecoin.

South African Regulator Reveals Over 4,000 Citizens Lost $6 Million in Crypto Fraud

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South African regulator, the National Consumer Commission (NCC) recently disclosed that it has unraveled a pyramid scheme known as ‘Obelisk’ which is a famous crypto mining company that defrauded over 4,000 citizens about $6 million.
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South African regulator, the National Consumer Commission (NCC) recently disclosed that it has unraveled a pyramid scheme known as ‘Obelisk’ which is a famous crypto mining company that defrauded over 4,000 citizens about $6 million.
Obelisk is a company that was established by a part of the team that worked on the Siacoin cryptocurrency. The main goal of the Obelisk developers is to build a community where ASIC mining is a preferable way of gaining coins.
After a series of complaints by investors, the NCC disclosed that it had to swing into action by investigating the activities of the company. Noting that most of its victims were gotten from different social media platforms.
Investors on the platform disclosed that they were charged between $18.75 and $24,000 per mining equipment on the platform which the NCC described as an outrageous amount. As if that was not enough, they were also asked to pay a certain initial fee at the point of registration which was undisclosed.
Also, for investors to be able to withdraw their funds, again they are mandated to pay another fee to upgrade their mining equipment.
In all of this, South African Regulator NCC disclosed that the company paid a smaller portion of the investor’s returns on their first investments to convince them to invest higher fees which is a gimmick synonymous with pyramid schemes to lure more investors.
However, problems began when investors discovered that the withdrawal button on their profiles had been suddenly deactivated making it impossible for them to withdraw their earnings.
In a bid to inquire about the issue, they were blocked and removed from the community groups they were added to. Also, the NCC disclosed that WhatsApp groups that investors were added to were estimated to be more than 20.
Investment in the crypto market has been growing across the globe which has also led to an increase in crypto scams and theft, as it was reported that over $10 billion was lost globally in 2021.

Kucoin has entered into a strategic partnership with polygon a blockchain scalability platform, to provide users with the best experience.
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Cryptocurrency exchange Platform, Kucoin has entered into a strategic partnership with polygon, a blockchain scalability platform, to provide users with the best experience.
Kucoin disclosed that it chose the Polygon ecosystem as the basis for its KuCoin Wallet because the blockchain platform offers the ability to reduce transaction fees and increase transaction processing speed which will enhance users’ experience.
It further revealed that polygon’s attractiveness to the newest and most advanced developers potentially enables the Kucoin wallet to integrate them into its infrastructure.
Investors King understands that KuCoin Wallet’s integration of one of the most advanced and booming blockchains into its operation may be the wallet team’s desire to gain its share of the hot wallet market. By working to improve its product with the help of such powerful partners, KuCoin hopes to increase its wallet’s user base.
Speaking on Kucoin’s partnership with Polygon, the head of Kucoinwallet Jeff Haul said “We are excited to work with Polygon, which has been dedicated to building a thriving ecosystem and continuously expanding its technical capabilities.
“With its scalability, speed, and low network fees, we attempt to provide the best experience for our users. Also, Polygon PoS has emerged as a hub for some of the most important Web3 projects.
“With Polygon as one of our partners, we can integrate more innovative Web3 features in the future to make users explore the Web3 world in a comprehensive way.”
Launched in 2017, with its headquarters in Seychelles, since its operations, Kucoin has grown to become one of the largest global exchanges by trade volume, which currently has over 10 million users and a presence in more than 200 countries.
The user-friendly platform offers users with low trading and withdrawal fees, coupled with a vast selection of altcoins and 24/7 customer support.
It uses many security measures, including micro-withdrawal wallets, industry-level multilayer encryption, dynamic multifactor authentication, and dedicated internal risk control departments which oversee day-to-day data operations according to strict security standards.

Luno Expeditions has revealed its plan to invest in Africa’s fintech and Crypto startups
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Global early-stage investor that supports Fintech and Crypto founders on their journeys to build the next generation of financial services, Luno Expeditions has revealed its plan to invest in Africa’s fintech and Crypto startups.
Founded in 2021 by Jocelyn Cheng, Luno Expeditions which is the investment arm of Luno, a cryptocurrency exchange platform, seeks to fund between 200-300 startups each year and diversify beyond crypto into the broader fintech space.
The firm primarily invests in fintech and crypto startups across the pre-seed and seed stages, although its parent company has traditionally focused on cryptocurrency. 
It has so far invested in some startups such as Stitch, Traction Apps, Busha, Cauri Money, Knabu, etc. It was also part of the investors that invested in Nigerian fintech startup Anchor when the startup announced its close of a $1 million pre-seed round.
Luno Expeditions has disclosed that it has its interest fixated on Africa’s startup ecosystem as the firm is betting on crypto and fintech companies in Africa, which is part of its strategy to tap into the growing adoption of cryptocurrency and fintechs in the region.
Having worked with startups in Africa and startups in more developed markets like the United States and Europe, Luno Expeditions founder Cheng disclosed that startups in Africa tend to have more traction than their European or American counterparts at the earlier stages and have more reasonable valuations which have tickled the interest of the company to invest in the African region.
There is no disputing the fact that the Crypto and Fintech ecosystem in Africa is growing at an exponential rate. Cryptocurrencies are gaining ground across Africa and have become popular in the region which has seen it gain widespread adoption.
Small retail payments in Sub-Saharan Africa are powering exceptional crypto adoption and usage, with the region conducting the world’s highest proportion (80%) of crypto retail payments of less than $1,000.
Also, African Fintechs on the other hand is emerging as a hotbed for investment, with an average deal size growing and the proportion of fintech funding in Africa increasing over the previous years, which has continued to bring jobs and growth to African economies.





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