You can read the digest here

• Forbes is buying Binance for $200 Million.

• In 2021, ransomware payments made in cryptocurrency were worth more than $600 millions.

• TVL has processed 30 million transactions. TVL’s total revenue is $157 million.

• OnlyFans releases NFT Profile Pictures, YouTube integrates NFTs

Forbes acquires Binance’s $200 Million Share in Binance

Binance, the world’s largest cryptocurrency exchange by trade volume, has announced a $200 million strategic investment into Forbes, the 104 year old American magazine and digital publisher.

The investment comes as part of Forbes’ intention to merge with Magnum Opus, a publicly traded special purpose acquisition company, in the first quarter of 2022. Forbes confirmed the news:

“The transactions with Magnum Opus and Binance are expected to help Forbes maximize its brand and enterprise values and use its proprietary technology stack and analytics to convert readers into long-term, engaged customers of the platform.”

Forbes also revealed that Binance would help it to develop its Web 3.0 strategy and digital assets. According to Mike Federle, CEO of Forbes, Binance can provide the American magazine with the experience, network, and resources to continue “providing helpful information about blockchain technologies and all emerging digital assets.”

Flipsider:

• Henri Arslanian (PwC cryptocurrency leader) has voiced concern about the Binance-Forbes partnership. SuggestionsIt is possible that conflicts of interest exist.

What You Need to Care About

This news clearly shows how big the crypto industry has grown and the increasing impact it is having on the real world.

In 2021, Ransomware payments in cryptocurrencies surpassed $600 million

Cyber-attacks have made projects in crypto industries persistent targets because of their capacity and regular holding of large amounts. Chainalysis, an blockchain data firm, claims that ransomware payments for cryptocurrency have reached $602 million by 2021.

Chainalysis reported that more than 140 ransomware variants are responsible for extracting $602,000,000. The average ransomware payment was $118,000 and this is a new record.

According to the report Conti was the most active ransomware strain in 2021. It siphoned over $200 million by 2021. Darkside was next, siphoning more than $100 millions.

Chainalysis says that it is possible for the number to be much higher due to victims of ransomware attack under reporting. This report highlights the fact that it first reported on ransomware payments in 2020 at $350m, which was then adjusted to $692m.

Flipsider:

• The recovery of crypto assets that have been laundered has seen a rise in recent years, including those from the Recovered $3.6 billion byThe U.S. Department of Justice.

What You Need to Care About

Although cryptocurrency appears to be a perfect target for ransomware, blockchains allow funds to still be tracked due the transparency offered by blockchains. To reduce ransomware exposure, you should avoid clicking on unverified links.

Cardano Facilitates 30,000,000 Transactions. TVL Hits $157 million

Cardano had an amazing week, starting with the launch MELD and ending with completion of the Daedalus upgrade. Data from Google’s studio has revealed that the network, frequently touted as an killer, has now processed 30.4 million transactions.

Cardano boasts over 200,000 active daily addresses making it the largest active network in the sector. Cardano’s increased activity follows a surge in the number of decentralized applications being launched on the Cardano blockchain following the Daedalus upgrade.

Although the initial slow deployment of smart contracts was criticized, the total valued locked (TVL, in Cardano’s Cardano blockchain, has exceeded $157million, which makes it the 30th most important DeFi chain. The Cardano network currently has five dApps.

Cardano Total Value Source: DefiLlama

SundaeSwap, a decentralized exchange with $96.2 millions at the time, is the largest dApp. A non-custodial financial protocol called MELD has $49.32 million of TVL. Over the last 30 days, Cardano’s TVL has risen by 87%, more than any chain ranked above it. Cardano’s TVL has risen by 87% in the last 30 days, a sign that things are to come.

Flipsider:

• Gert Van Lagen is an acclaimed crypto analyst and uses the Elliott Wave. arguedCardano’s current value is undervalued and it could soar from $1.16 now to $5 by May 2022.

Care is a must

Cardano continues to improve its network performance. It has also increased its use case, though slowly. This is in an effort to surpass all expectations and become the Ethereum Killer.

OnlyFans Releases NFT Profile Pictures. YouTube To Integrate NFTs

OnlyFans (NYSE:) has followed the lead of Twitter (NYSE). The online subscription site for creators that specializes in adult content offers a new feature that lets users set non-fungible tokens (NFTs), as profile photos.

In its current iteration, OnlyFans only supports NFTs minted on the Ethereum blockchain, however, according to Amrapali Gan, CEO of OnlyFans, “this feature is the first step in exploring the role that NFTs can play on our platform.”

YouTube, a popular video streaming site is looking to add NFT capability to its platform to increase creator profits. YouTube is striving to make NFTs less dangerous for creators of content.

YouTube stated that they are working to harness non-fungible tokens so that fraud is reduced in the fast growing market for digital art. The Google subsidiary (NASDAQ:) also stated that NFTs will be used to provide a better social viewing experience to gamers who are interested in gaming content.

Flipsider:

• Although they are currently in the crypto industry spotlight, NFTs represent only 1% of the $2 trillion crypto ecosystem, with the profile-picture “genre” of NFTs generating the most revenue within the niche.

What You Need to Care About

While NFTs were initially renowned for their ability to generate quick and often outrageous profits, many projects now attach utility and uses cases to NFT products.

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