Krystal Newsflash (6th May 2022)

By Krystal DeFi | Krystal DeFi | 7 May 2022


Welcome to our recap of the major stories in the crypto world! Here’s what has happened in the past week:

FIFA Partners With Algorand

Ahead of the 2022 FIFA World Cup, Algorand has been announced as their official blockchain platform.

Cryptocurrencies are becoming a huge part of sports and football, particularly with NFTs and fan tokens.

As such, it does make sense that FIFA is tapping into this popular trend.

This further signals the adoption of cryptocurrencies by major companies, and it will be exciting to see what’s in store for the sporting industry!

While we currently do not support the Algorand blockchain, you may never know in the future, so do keep an eye out for that! 👀

Rewards On Crypto.com SLASHED

The popular Crypto.com Visa Card has announced major changes to its rewards programme.

Here is a summary of the changes:

  • Lower CRO cashback for purchases
  • Cap of CRO cashback each month (except for Icy White, Frosted Rose Gold, and Obsidian cards)
  • Reduction in CRO staking rewards (for Jade Green, Royal Indigo, Frosted Rose Gold, Icy White, and Obsidian cards)

The staking rewards were initially removed, before the backlash from the community caused Crypto.com to change its decision and reduce the staking rewards instead.

This was the second change in the Crypto.com ecosystem, after they previously reduced their rates on Crypto.com Earn.

Nevertheless, Kris Marszalek, CEO of Crypto.com, mentioned that Crypto.com provides a gateway to the Cronos chain.

With the yields on centralised platforms starting to decrease, there are still many opportunities in the decentralised (DeFi) space.

Krystal supports the Cronos chain, along with 7 other blockchains, to provide you with the best DeFi trading experience!

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Seed Phrases Can Be Hacked!

A German IT professional posted this Reddit thread on how predictive text could allow hackers to guess your seed phrase.

If hackers get hold of your phone with predictive text turned on, hackers may be able to guess your seed phrase as long as they know the first word in your 12 or 24-word phrase!

It is extremely important to keep your seed phrase secure, and you can find out the best ways to store your seed phrase in this article we wrote.

To prevent the risk of this happening, you may want to clear the cache on your predictive keyboard after you have entered your seed phrase (on iOS and Android).

What are your thoughts on FIFA adopting blockchain technology? Will you still be using your Crypto.com Visa Card? Do tweet us or send us a message on Telegram to let us know!

Navigate the DeFi Space now with Krystal!

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Krystal DeFi
Krystal DeFi

Krystal is a non-custodial multi-chain platform to easily access popular DeFi services and manage NFTs. Swap, earn passive income, manage your portfolio & benefit from our rewards programme. Now supporting services on 8 blockchains.


Krystal DeFi
Krystal DeFi

Krystal is a non-custodial multi-chain platform to easily access popular DeFi services and manage NFTs. Swap, earn passive income, manage your portfolio & benefit from our rewards programme. Now supporting services on Ethereum, BSC, Polygon, Avalanche, Fantom, Cronos, Arbitrum and Aurora.

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