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🛍️ Will Amazon Make NFTs Mainstream? 🏦 Silvergate Bank Shuts Down Amid FTX Withdrawals

Ledger sent this email to their subscribers on March 10, 2023.

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logo Need to choose the right device for your needs? Or a backup device? Select the one that best meets your expectations. Compare our devices    → B IN THE KNOW Amazon to release NFTs tied to real-world assets. The world's largest retailer is set to introduce its own NFT marketplace and to offer its customers the prospect of owning digital collectibles tied to physical goods. Sources suggest Amazon may establish a private blockchain for this purpose. A significant step towards NFTs going mainstream? What does the upgrade mean for Ledger users? If you’re a Ledger Live user staking with Lido or Kiln, you will soon have the freedom to stake and unstake your Ethereum assets at will. Note that you will not be able to unstake and withdraw your staking rewards in Ledger Live the same day of the Shanghai upgrade. WeChat adds CBDC as payment method. The country’s biggest social & payment app has just become China’s second company to integrate the digital yuan, following Alipay's adoption last December. The digital currency has already witnessed a surge in transactions on Chinese e-commerce platforms during the 2023 Lunar New Year shopping season. Silvergate, a crypto bank, shuts down amid FTX’s liquidity withdrawals. The lender’s voluntary liquidation plan “includes full repayment of all deposits”, Silvergate said. The Californian bank suffered heavy losses following FTX’s collapse as well as tougher regulatory scrutiny. U.S legislators bring back the ”Keep Innovation in America” Act to avoid crypto exodus. The legislative Act, initially introduced in March 2021, has been reintroduced due to an ongoing regulatory crackdown on cryptocurrency, raising concerns that Web3 talents may be driven overseas. An AI crypto artist to be exhibited at Le Louvre, set to debut in Paris later this month. “Can I tell you a secret” is a 100-piece “visual autobiography designed for intimacy”, where there are hidden secrets for the public to find. "We’ll bring AI art to mainstream culture together," she tweeted about the partnership. . o IN NUMBERS L $341 million The total value of assets locked TVL on Cardano in its native token ADA, reached an all-time high on Tuesday. So far, Cardanos value locked has doubled this year, thanks to the release of its proprietary stablecoin, Djed. $1,406.78 Ethereum's current price, down by 10% in the past 24 hours after Silvergate Bank, a crypto bank, ceased its operations and moved to voluntary liquidation, and after Fed Chair Jerome Powell cautioned that the Fed might further increase interest rates. Check Latest Prices    → B , INSIGHT OF THE WEEK " Ethereum’s Shanghai Upgrade Is Coming:  What You Need To Know Ethereum’s upcoming Shanghai upgrade is generating significant attention, but what exactly does it entail for the world’s second-largest protocol, and how will it influence your Ledger Live experience? What is the Shanghai Upgrade?  Ethereum’s Shanghai upgrade is a hard fork, set to happen around April 2023, though the official date isn’t settled yet. This software upgrade will implement EIP-4895, allowing validators to withdraw their staked ETH. So far, the staked coins remain blocked on the protocol, meaning that users can’t retrieve their rewards.  After the upgrade, validators will be able to: • Unlock and withdraw their staking rewards. • Unstake ETH and gain access to their entire balance. • Earn rewards that will be distributed automatically.  • Re-stake to sign back up and start earning more rewards.  The Shanghai upgrade will also include three other improvement proposals that tackle high gas fees, slow transaction processing time, and the overall performance of the network. What does it mean for Ledger Live users?  Staking with Lido through Ledger Live: Ledger Live users staking with Lido will have the freedom to stake and unstake at will. stETH holders will be able to unstake their stETH and in return receive ETH at a 1:1 ratio. Withdrawals will be handled through a Request and Claim process: • Request: A user locks stETH as a withdrawal request. • Fulfillment: The protocol sources ETH to fulfill the withdrawal request, locks the ETH, burns the locked stETH, and marks the withdrawal request as claimable. • Claim: The user claims their ETH. It’s uncertain how long it will take to process withdrawals – expect a couple of hours in the best case and less than a week for most requests. However, in some cases, it may be significantly longer. Staking with Kiln through Ledger Live: Ledger Live users staking with Kiln will be able to withdraw their ETH by following these steps:  1. Unlock and connect their Ledger device to the Ledger Live app. 2. Navigate to the Discover section. 3. Select Kiln. 4. Go to the Rewards tab and select the validator(s). 5. Click Unstake. 6. Review and verify the transaction using their Ledger device. Once the validator goes through the exit and withdrawal queues, you can go back to the Rewards tab, click the Withdraw button, and claim your ETH. To learn more, read our latest article. BB IMPORTANT READING - This week On The Ledger podcast, Ian Rogers talks with Derek Edwards about today’s NFT landscape, and what’s in store for the future. Learn more in our latest episode.  If you want to learn more about staking for businesses, watch our latest panel with experts from eToro (Yovel Surkiss), Deloitte (Marie-Line Ricard), Figment (Eva Lawrence), and Ledger Enterprise (Nathalie Large-Odier and Lila García).  DEX or CEX – which one do you need? Here, we help explain how they work, what are their main pros and cons and, most importantly, how they handle your assets. B IMAGES OF THE WEEK ' A Mix Of AI & NFTs Art by Claire Silver Find your perfect Ledger wallet Compare our devices    →
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