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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 youâre 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 countryâs biggest social & payment app has just become Chinaâs 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 FTXâs liquidity withdrawals. The lenderâs voluntary liquidation plan âincludes full
repayment of all depositsâ, Silvergate said. The Californian bank suffered heavy losses following FTXâs collapse as well as
tougher regulatory scrutiny.
U.S legislators bring back the âKeep Innovation in Americaâ 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. âCan I tell you a secretâ is a 100-piece
âvisual autobiography designed for intimacyâ, where there are hidden secrets for the public to find. "Weâll 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    â
B , INSIGHT OF THE WEEK "
Ethereumâs Shanghai Upgrade Is Coming:Â
What You Need To Know
Ethereumâs upcoming Shanghai upgrade is generating significant attention, but what exactly does it entail for the worldâs
second-largest protocol, and how will it influence your Ledger Live experience?
What is the Shanghai Upgrade?Â
Ethereumâs Shanghai upgrade is a hard fork, set to happen around April 2023, though the official date isnât 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 canât retrieve their rewards.Â
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.Â
⢠Re-stake to sign back up and start earning more rewards.Â
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?Â
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.
Itâs uncertain how long it will take to process withdrawals â 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:Â
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 todayâs NFT landscape, and whatâs in store for the
future. Learn more in our latest episode.Â
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 GarcĂa).Â
DEX or CEX â 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
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