Author: Jeremy Ryan

Some countries worldwide suffered bigger financial losses to cryptocurrency scams despite a massive bear market in 2022.Losses from crypto scams in Hong Kong amounted to 1.7 billion Hong Kong dollars ($216.6 million) last year — surging 106% from a year before — according to local police.The number of crypto-related scams reported in Hong Kong in 2022 equaled 2,336 cases, surging 67% from 1,397 cases recorded by police in 2021, the South China Morning Post (SCMP) reported.Hong Kong scams involving crypto accounted for more than 50% of the 3.2 billion HK$ ($407 million) stolen from city residents in technology crimes, according to…

On March 6, Yuga Labs kicked off its Bitcoin-based inscription project, TwelveFold, in an auction lasting 24 hours. Once the dust had settled, the company had raised approximately $16.5 million from 288 successful bidders.According to an announcement made through the company’s official Twitter account, the successful bidders will receive their inscriptions within one week. In addition, those that did not succeed with their bids will receive their BTC back in 24 hours. However, this process wasn’t without controversy, with some observers critiquing the process Yuga chose for this sale.The TwelveFold auction has ended. Congratulations to the top 288 bidders –…

The United States Securities Exchange Commission won’t be allowed to fine executives involved in Voyager Digital should it end up issuing bankruptcy tokens to help repay impacted customers, bankruptcy judge Michael Wiles has said.The comments from Wiles came on March 6, the third day of hearings regarding a plan by Voyager to issue a repayment token and sell $1 billion of assets to Binance.US. The SEC earlier argued that the repayment token would constitute an unregistered security offering, while Binance.US is operating an unregulated securities exchange. In a supplemental objection statement, it also objected to a legal protection which stated…

Cryptocurrency firms operating multiple entities in different countries should be overseen by one consolidated “home” regulator to stop them from playing “games” aimed at skirting regulators, the acting head of the United States banking regulator has opined.Michael Hsu, the acting head of the Comptroller of the Currency (OCC), made the comments in prepared remarks for the March 6 Institute of International Bankers conference in Washington, D.C.The OCC is a bureau within the Treasury Department that regulates U.S. banks and aims to ensure the safety of the country’s banking system. It has the power to permit or deny banks from engaging…

NFT A pair of former executives from League of Legends maker Riot Games have raised $55 million in Series A funding for a new game studio called The Believer Company. But despite being backed by firms that are prominent in the Web3 world, Believer is saying “no fucking thanks” to NFTs. The Series A round was led by Lightspeed Ventures and supported by Andreessen Horowitz, both major investors in Web3 startups. The all-star funding round was further bolstered by Riot Games itself, along with former Disney CEO Michael Eisner’s Tornante Company and gaming/esports-centric VC fund Bitkraft Ventures. In today’s announcement,…

ImmutableX has announced a partnership with Mineloader, one of the leading Web2 game development studios. Together, they aim to bring forth the much anticipated Web3 RPG game, Guild of Guardians.Mineloader doesn’t require an introduction to gaming fans, as it’s the studio behind some top AAA titles such as Final Fantasy VII Remake and The Division 2. Additionally, it’s the name behind the highly rated The Last of Us Part 1, an action-adventure title. Over the past 20 years, the studio has collaborated with top names in the gaming world to develop awesome Web2 games. These include Ubisoft, EA Sports, Square…

The leading photography digital platform Getty Images will drop its first vintage photography NFT collection with Candy Digital! Together with the digital collectible platform, the two aim to bring high-quality moments featuring the top ’70s icons to the metaverse. From David Bowie to Rolling Stones, AC/DC, and John Lennon, these impressive digital assets launch on March 21st, so let’s gain insight! Candy Digital’s latest official partner, Getty Images, drops an NFT collection of its rarest photos from the 1970s. The ’70s Music & Culture Collection: How Can You Mint an NFT? This season, Getty Images and Candy Digital will bring…

Blockchain Blockchain technology has changed the way we think about currency and finance. Yet, its potential goes beyond just digital currency. Blockchain could transform a wide range of industries and applications, including digital identity verification. In this article, we will explore the innovative efforts of two blockchain platforms, Cardano and TRON, in creating identity solutions. The Significance of Digital Identity in the Blockchain Space Verifiable identity is a vital component of applications that may benefit from blockchain technology. Blockchain-based identity has the potential to offer increased security, privacy, and efficiency in various industries, including banking, supply chain management, and voting.…

The Biden Administration is “aware of the situation” at Silvergate and will continue to monitor reports on the troubled bank as it unfolds, according to a White House spokesperson.Speaking at a press briefing on March 6, Press Secretary Karine Jean-Pierre said the White House hasnoted that Silvergate marked another major crypto firm to “experience significant issues” in recent months but declined to go into further specifics on the firm. “In recent weeks, banking regulators have released guidelines on how banks should protect themselves from risks associated with crypto,” she said, adding that: “This is a president that has repeatedly called…

Blockchain Mysten Labs, the initial developer of the Sui layer 1 blockchain, signed a memorandum of understanding with Alibaba Cloud, an arm of Chinese tech conglomerate Alibaba Group (BABA), which has a $235 billion market cap. Alibaba Cloud will provide archival node services and secure cloud infrastructure for validators for Sui’s testnet to help create more user-friendly experiences – widely seen as a key factor in attracting more Web2 people into the Web3 space. The two companies will also collaborate on developing sustainable Web3 ecosystems and explore potential opportunities in the e-commerce and payment sectors. “We are excited to work…