CoinSmart Crypto Recap March 23, 2023

crypto recap

Welcome to the CoinSmart crypto recap. Let’s look at the hottest stories that came up this past week. Here is an overview:

  • Microsoft embraces web3
  • Terra’s Do Kwon arrested

Microsoft Edge testing built-in Ethereum wallet

Microsoft is reportedly developing a built-in Ethereum crypto wallet for its Edge browser, enabling users to send and receive cryptocurrencies and NFTs without additional extensions. Currently, in a limited testing phase, the wallet is a non-custodial solution, giving users complete control over their funds. This experimental feature of the Edge browser was discovered by the pseudonymous software documenter “Albacore.”

Microsoft highlights that it will not have access to users’ passwords or recovery keys during the onboarding process. Instead, testers must generate a password and a 12-word recovery phrase to secure and recover their crypto wallet. Once onboarding is complete, the wallet generates an Ethereum address for receiving funds. The Edge Crypto Wallet supports multiple Ethereum accounts. In addition, users can connect to decentralized apps (dApps) and access a crypto news section.

Telegram integrates crypto payments

Telegram has announced a new feature that will enable its users to send each other the world’s largest stablecoin, tether (USDT). USDT runs on several blockchains, but Telegram has added support for the stablecoin only on Tron for now. With the new integration, Telegram is competing against other social media platforms, such as Twitter, which has already added crypto support in various forms.

Telegram’s tryst with crypto dates back to 2018, when it launched its Telegram Open Network (TON), initially designed to be a proof-of-stake (PoS) blockchain platform with a native token. The launch, however, was not smooth. The app founder and CEO of the app – Pavel Durov – previously said he had to face numerous scammers and fake accounts on Twitter. Subsequently, the project was abandoned by Telegram just two years later after the United States Securities and Exchange Commission (SEC) deemed the initial coin offering illegal, which forced Telegram to step away from the TON project. However, the project has since been kept alive by the TON Foundation. 

Disclaimer: The content of this email is strictly for information purposes only. All of the opinions expressed in this email are not connected to CoinSmart and are not intended to provide you with investment advice. It is important that you do your personal research and/or consult an investment advisor to determine what is right for you.