 Meta is seeking new ways to generate revenue as the company adds cryptocurrency to its financial arm. Meta is exploring the possibility of adding "social tokens" or "reputation tokens" to its social platforms. More: - Facebook and Instagram are becoming less popular among users, and Meta lost more than $220B from its market valuation in February as more people switched to a rival, TikTok.
- CEO Mark Zuckerberg is now seeking new ways to attract users to its social media platform:
- One strategy includes introducing cryptocurrency for the metaverse ecosystem, called "Zuck Bucks" internally at Meta's offices.
- Zuck Bucks are unlikely to become crypto for the metaverse, but the company is looking to add in-app tokens, similar to the ones that Roblox launched in its popular children's game.
- Users will soon start seeing NFTs on Instagram, and users can post and share NFTs on Facebook by mid-May. NFTs may be monetized by "fees or ads."
Arstechnica 
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 Inside the SEC and XRP lawsuit: will the SEC lose? The SEC filed a lawsuit against Ripple Labs, claiming that Ripple was issuing illegal securities; however, some say the case may turn in favor of Ripple Labs. More: - The SEC claims that the XRP cryptocurrency was being issued as an unregistered security.
- Ripple Labs' defense claim states that XRP is not a security but a tool that helps transfer value across borders through Ripple products.
- Current updates on the case appear to favor Ripple's defense.
- More recently, a non-profit organization Empower Oversight claims that there was a conflict of interest concerning Ripple (XRP).
- Empower Oversight says that it can prove that the SEC was selectively enforcing laws for crypto, promoting some cryptocurrencies over others.
Yahoo Finance
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 Miami Mayor Francis Suarez wants the city to become the "future of finance." The city has previously launched the MiamiCoin (MIA) as a new means of revenue stream. More than 25,000 attendees participated in this year's Bitcoin 2022 Conference, where the conference organizers unveiled the Miami Bull. More: - The 3,000-pound statue is intended to be a symbol for Miami Fintech and crypto. The project was created by a group of strategists and artists, including award-winning Furio Tedeschi, who is behind the transformers series.
- "We ended up with this monstrous, massive 3,000-pound bull," said Tedeschi.
- The total cost of the Miami Bull was not disclosed, but the artists said the bill was "well worth it."
- The statue is standing outside the trading labs of Miami Dade College.
- VC funding in the region has grown from $6M to $745M in 2021
Other highlights from Bitcoin Conference In Miami: - Peter Thiel called Warren Buffet "enemy no.1" for crypto and a "sociopathic grandpa from Omaha."
- Putra, a well-known fintech veteran, said crypto might "collapse in the bear market."
- He explained further by saying: "It is a market that is moving sideways. It's having a difficulty getting into a trending direction on the upside, but it's also having a very difficult time getting into a trending direction downwards."
- The magic number for bitcoin is $46,000, he added.
Business Insider
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 Kevin O'Leary, a venture capitalist on Shark Tank, revealed his Web3 and cryptocurrency investment strategy. He believes that cryptocurrency will become the S&P 500's 12th sector within a decade. More: - There are 11 sectors of the S&P 500, and financial experts often advise their clients to put no more than 20% in any one sector and no more than 5% in any stock.
- O'Leary uses the same strategy for this cryptocurrency and Web3 portfolio. He holds 32 positions in the digital asset sector, including Solana, Bitcoin, and Polygon.
- He explained that "no single position takes up more than 5% of the allotted 20%."
- He noted that most should think of Bitcoin, Ethereum, Helium, and Solana as software and not a coin.
- "If you believe there's long-term economic value in software, then you can give it a 5% weighting within your operating mandate. My larger positions are ones I think look like a great economic proposition," he says.
Markets Insider
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Multiple former Bank of America executives have joined Copper, a cryptocurrency trading services startup for the investment industry. The startup has attracted talent from BofA to work on a new unit that will focus on investment opportunities in crypto projects. More: - The new team will focus on infrastructure supporting brokers looking for clients who want to invest in crypto opportunities.
- Michael Roberts, a former managing director at BofA, will lead the team consisting of Adam Groom, Ben Carr, Paul Barham and Ross Budgen.
- The team understands the needs of institutional technology investors. Boris Bohrer-Bilowitzki, chief revenue officer at Copper, said: "I have no doubt that Mike, Adam, Paul, Ben and Ross will fit seamlessly into the team as we push the boundaries of possibility within the Copper ecosystem and continue to develop infrastructure to empower prime brokers with the infrastructure they need."
- The crypto sector is attracting top talent from the finance industry. For example, Roger Barlett, a Goldman Sachs veteran of 16 years, joined Coinbase to lead global financial operations.
Irmagazine
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White Star Capital raised a $120M cryptocurrency fund aimed at metaverse projects. The company's multi-stage technology investment platform will invest $1M to $7M in token and equity investments in 20-25 companies. More: - The firm's digital asset fund focuses on investing in crypto networks and projects that are being built on the blockchain.
- The team at White Star applies both native crypto and traditional VC strategy to fund seed, series A, and token rounds.
- Ubisoft is also participating as an anchor investor.
- The funds will be allocated across crypto networks, decentralized finance, metaverse projects, and gaming companies.
Coin Desk
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
DeFi Saver is your one-stop dashboard for creating, managing and tracking DeFi positions. | |
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