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Crypto Weekly

A quiet week in crypto this past week, With most projects in the red. However there does seem to be a slight recovery in BTC as I write this article.

Could this be the start of a reversal in the charts? Only time will tell.

This week we only have one pick of the week project due to the reserved nature of the market. Patronus was finally able to launch after initial issues with their launch on Pinksale. Launching during such a bear market is never easy nor advisable, however developer “Loco” pushed on with DX sale and although it was slow out of the gates to reach the modest softcap of just 35 BNB, from there it shot to the 70 BNB hardcap in minutes and launched the following day. Since launch Loco has booked some prominent AMA sessions and introduced the projects own swap on the website with plans to integrate into Ecommerce also. For those of you that are Harry Potter fans, the upcoming NFT launch will certainly be up your street. Check them out. They are also now fully verified on Fuddoxx. Marketcap:$117,903 TG: t.me/PatronusCoin.

Crypto Weekly

NEW VERIFIED PROJECTS:

CMCC officially joined the family of Fuddoxx verified projects this week and we very much look forward to working closer with Nathan and the team in the coming months.

ZAIN’S RUG OF THE WEEK:

This week being so quiet within the BSC space has meant that Zain is working on a new rug project for next weeks issue. Investigations are ongoing as we write but all will be revealed in next weeks issue.

LATEST NEWS

Fuddoxx are very proud to announce the launch of our very own staking platform on Monday 7th of February 2022.

The staking platform will initially include pools for both Fuddoxx and DDF holders and will grow exponentially over the following 2 weeks. With several projects poised to add in their own staking pools the platform will offer both a brilliant staking options for our verified projects as well as another string to the Fuddoxx bow.

The staking platform will enable holders to stake their tokens and receive a great APY as well as their normal contract reflections.

Fuddoxx has also reached a new ATH this week just teetering on the $200k mark, This is purely organic growth and building a solid foundation for future developments.

LATEST SCAMS

In next week's edition of the Fuddoxx Insider, we are going to blow apart a big name influencer that most of you will have heard of or used in the past. Whilst we would love to warn you this week of exactly who this is we are currently collecting all of our screen shots and evidence together to be able to provide everything required to show just how unethical and callus this individual is.

Have A Bullish Week and Fill Those Bags!!

Crypto Weekly

Facebook Expects to Lose $10 Billion this Year Due to Metaverse Investments

On Facebook, the metaverse will take center stage.

ƒ As a result of Facebook Reality Labs investments, Facebook expects to cut overall operating profits by about $10 billion this year. ƒ Facebook Reality Labs will focus on

Facebook's metaverse ambitions. ƒ CEO Mark Zuckerberg said the metaverse will be the successor to the mobile internet.

At least $10 billion will be poured into Facebook's Reality Labs project, which is working on the company's metaverse ambitions.

In the company's earnings release on Monday, CEO David Wehner noted that Facebook's investment in Facebook Reality Labs will reduce the company's overall operating profit by approximately $10 billion in 2021. We expect to increase our investments over the next few years as part of our commitment to bring this long-term vision to life. Metaverses are shared virtual spaces that people can access through the internet using virtual reality and augmented reality devices.

Mark Zuckerberg has pushed the buzzword into the mainstream. The company went so far as to change its name to reflect its focus on the concept. However, it acknowledged that the idea wouldn't pay off right away. Zuckerberg told analysts, according to Reuters, "This investment will not be profitable for us anytime soon. But we believe that the metaverse will eventually replace mobile devices."

Facebook Reality Labs will also publish its financial results as a separate unit. In its earnings release, Facebook warned of "significant uncertainty" in the next quarter due to "continued headwinds from Apple's iOS 14 changes, as well as macroeconomic and COVID-related factors."

App developers had to ask users' permission before tracking them before Apple introduced privacy changes earlier this year, a move that has impacted advertisers. Facebook's revenue increased to $29.01 billion in the third quarter from $21.47 billion a year earlier, falling short of expectations of $29.57 billion. In the same week that Facebook released its earnings, over a dozen news outlets published articles based on documents leaked by Francis Haugen, putting intense scrutiny on the social media giant. Documents known as the Facebook Papers revealed some controversial practices at the company, including how it ranks countries into different tiers to moderate the content. 

Crypto Weekly

9

Could the U.S. dollar go fully digital? The Federal Reserve releases a report on potential competitors to cryptocurrency

According to a report released by the Federal Reserve last week, the possibility of creating an entirely digital dollar could serve as a more stable alternative to other digital forms of money such as cryptocurrencies. In the United States, the currency would be called "central bank digital currencies" (CBDCs).

In the modern world, digital wallets and systems are used for many modern transactions. Over 97% of money in circulation comes from online transactions, according to an October 2021 article in Harvard Business Review.

A commercial bank ledger is typically used for storing digital money (or, in the case of cryptocurrencies, a public ledger). Conversely, a CBDC would be a Federal Reserve liability, owned and backed by the Fed. The Fed currently only backs physical cash. A digital dollar could streamline cross-border payments and reinforce the dollar's status as an international currency, according to the Federal Reserve. As an alternative to digital money created by private banks, the Federal Reserve claims digital currencies can also provide access to safe central bank money backed by the federal government.

The digital dollar could limit consumers' access to banks' money by reducing deposits into bank accounts. In its report, the Fed cautions that this could have detrimental effects on banks and the broader financial system. According to Time, "The benefits of CBDCs to international competitiveness and financial inclusion are theoretical, difficult to measure, and may be elusive," said the American Bankers Association at a congressional hearing on digital currencies. Furthermore, "the negative consequences could affect monetary policy, financial stability, financial intermediation, the payments system, and the customers and communities that banks serve."

A federal government will have access to consumer data, so a balance will have to be struck between protecting personal privacy and preventing crime.

The storage of data on government infrastructure may also make it vulnerable to foreign cyberattacks. As of yet, no policy decisions have been made regarding the development of a digital dollar, and the report is intended to aid in the understanding and feasibility of CBDCs, according to the Fed. 