Daily Crypto News | June 24th, 2022

1. Lengendary Footballer Christiano Ronaldo Is Partnering With Binance

A number of world-class athletes are heading to crypto, and one of the most famous ones to ever live, Christiano Ronaldo, is now among them. He has signed a long-term marketing contract with the world’s biggest crypto exchange Binance. Many Ronaldo NFT collections will be created as part of the deal, and will only be released on Binance NFT marketplace.

The first Ronaldo NFTs are going to come out during this year, and the GOAT of football seems to be excited about it. “My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be a part of,” said Ronaldo.

2. CoinFLEX – Another Crypto Exchange To Suspend User’s Activities

After the doing of Celcius and Babel Finance within the previous week, a few more crypto exchanges have joined them in limiting user’s withdrawal, including CoinFLEX. Crypto derivatives exchange CoinFLEX announced earlier today about its official suspension on all withdrawing activities, which was caused by issues with a counterparty.

“Due to extreme market conditions last week & continued uncertainty involving a counterparty, today we are announcing that we are pausing all withdrawals,” wrote CEO Mark Lamb, adding that withdrawals will operate back to normal once the situation gets better. No specific date was promised.

3. Tech Giants Such As Meta Said To Create Metaverse

Earlier this week, 35 technology firms, consisting of some world’s giants such as Meta (the mother company of Facebook), Microsoft, and Sony announced their intention to create an organization called the “Metaverse Standards Forum”.

The Forum claimed that its goal is to help build a stronger bond between companies and thereby build an interoperational metaverse that will be the future of internet. All 35 companies have signed a pledge to work together. However, big names in crypto remain skeptical, as the idea proposed by these companies go against the idea of a decentralized world, as they represent the board of shareholders behind it.

4. Aave Founder Seeks To Build A Decentralized Social Media Through Web3

Aave CEO and founder Stani Kulechov is hoping to develop its decentralized social platform, following the vision of the future that he has. Kulechov believes that the birth of cryptocurrencies was able to rewrite a lot of perceptions on finance, and so can Web3. Web3 signifies an upcoming, or possibly ongoing, evolution in the way people use social media.

“As we have ownership of financial protocols and communities and creators, what if we actually can have ownership on our own presence in social media — our profiles, our social identities?” a question proposed by Stani Kulechov. He also added that Aave’s Lens Protocol brought his firm a step closer to the full expansion into Web3.

5. Stepn Is Down By 97% Despite Its 3 Million Users

Stepn, a fitness app that requires a purchase of an NFT to use, has stacked up an impressive number of 3 million users within 6 months. When asked about the app, Stepn CMO Shiti Maghani called it “Strava meets Pokemon Go”, and described how the app went viral on Twitter among Web3 enthusiasts in April.

“Just stepping back, looking at the macro-environment, it took the airplane industry 68 years to get to 50 million users. And it took Twitter about two years, and then Pokemon Go some months. Web3 overall is squeezing that space of compounding growth, because we give everything back to the users,” said Maghani with amazement.

Unfortunately, because of the bear market and the crash of Terra, Stepn’s GST dropped drastically, from $9 in April to $0.18. The money spent to acquire an NFT (which costs SOL to buy) is now hardly regained through the stacking of the devalued GST.

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