🧹 Binance takes action to clean up its NFT marketplace

🧹 Binance takes action to clean up its NFT marketplace 💀 Kevin Rose loses hundreds of ETH worth of NFTs after falling victim to scam ⚖️  US senator seeks to make BTC legal tender

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🧹 Binance takes action to clean up its NFT marketplace 

💀 Kevin Rose loses hundreds of ETH worth of NFTs after falling victim to scam 

⚖️  US senator seeks to make BTC legal tender

Binance takes action to clean up its NFT marketplace

Binance is tightening the rules regarding NFT listings on their platform. After February 2nd, 2023, all NFTs that were listed before October 2nd, 2022 and had less volume than $1,000 in a period from November 1st, 2022 to January 31st, 2023 will be delisted. In addition, NFT artists can only mint up to five digital collectibles per day starting January 21st, 2023.

Binance will also start requiring KYC from the sellers and at least two followers. In other words, Binance is taking out the NFT trash that was plaguing its platform. Binance also said that its due diligence team will periodically check NFTs and make sure they meet the new standards.

The NFTs from the delisted projects are still going to stay in the users wallets, though, so you can still save them as a reminder of the good old days.

In any case, it's good that Binance is taking steps to make sure that the projects on their platform meet certain standards. It won't keep the users 100% safe but at least they won't be distracted by low quality trash.

Kevin Rose loses hundreds of ETH worth of NFTs after falling victim to scam

CEO and the co-founder of PROOF NFT Collective (a community of NFT creators behind a couple of successful NFT launches), Kevin Rose, just realized the hard way how valuable the NFTs he owned were.

He tweeted that his wallet had been hacked after buying NFTs from a project called Chromie Squiggles. 25 Squiggles, along with “a few other NFTs” he had been holding were gone. While the floor price of a single Squiggle on OpenSea's secondary marketplace is around 13 ETH some NFTs have sold for up to 945 ETH, so the actual value of the stolen NFTs can only be speculated.

Kevin was most likely scammed into signing a contract that created a bundled private listing, which was then exploited by hackers to steal his NFTs.

In response to Kevin's tweet, the NFT community came out in droves with advice on safe handling of tokens and how to spot malicious contracts. The lesson here is clear: no matter how much you know about NFTs and the blockchain, it's always important to be extra cautious.

US senator seeks to make BTC legal tender

One of the US senators for Arizona, Wendy Rogers, is taking the bull by the horns and proposing a bill to include Bitcoin (BTC) in the list of accepted legal tenders.

If the bill passes, Arizona would be the very first state to accept Bitcoin as a legal currency. That would change the crypto space forever and would be an insane win for crypto in general. Of course, it's very unlikely to happen because the US constitution restricts states from creating their own legal tender. But if it does happen, people of Arizona will be able to buy and sell goods and services, pay taxes, and make payments with BTC.

The senator had already proposed a bill to make Bitcoin legal tender in 2022. This new bill is even more ambitious, amending the definition of legal tender to include BTC in existing laws.

Here's hope that this one doesn't get killed in congress. But as they say, "all dreams are valid".