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NY Attorney General Sues Celsius Co-Founder For Fraud

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According to the Wall Street Journal, Celsius co-founder Alex Mashinsky was sued by New York Attorney General Letitia James. The government official filed a civil lawsuit against Mashinsky, accusing him of “defrauding investors out of billions of dollars.”

Celsius Co-Founder Could Face Time In Prison?

N.Y. Attorney General James believes that the Celsius co-founder and former CEO gave false statements to his customers. Mashinsky allegedly lied about the company’s financial situation and purposely concealed information from his customers.

Consequently, Celsius investors lost millions of dollars while the company took “risky investments” with their funds. In the meantime, Mashinsky advertised the platform as being “safer than a bank.” According to the report and the lawsuit:  Read more...

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Do Kwon Misery Worsens: Investors File $57 Million Lawsuit Vs. Terra Co-Founder

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Do Kwon, now a fugitive wanted by South Korean prosecutors and the Interpol, has a new fire to put out as more than 300 investors from Singapore decided to file a class action lawsuit against the Terra Labs co-founder.

The 357 capitalists from the Asian nation had no choice but to bring the fight to court as they lost $ 57 million. The plaintiffs claim that Do Kwon and his cohorts deceived them by making them believe that the value of the UST stablecoin is, as the word says, “stable” and will always be pegged to the U.S. dollar.  Read more...

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Why Crypto Is ‘The Better Bet’ Compared To Gold, According To Ethereum Co-Founder Vitalik Buterin

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Crypto assets like Bitcoin and Ethereum can no longer be considered as just tenants in the outskirts of the world’s current financial system.

They have already matured in such a way that they are now the driving force behind a digital revolution that is fuelled by enthusiastic investors that recognize their potential not only as store of value but also as source of profit.

It came to a point when some believed that a cryptocurrency like Bitcoin might end up as the go-to option for investors after the COVID-19 pandemic for them to address issues like price instability, extreme risks and economy crippling conflicts such as Russia’s invasion of Ukraine.  Read more...

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Dapper Labs Co-Founder Signs With Hollywood Agency WME

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Agency representation continues to find its way to NFTs, bear market aside. Dapper Labs and CryptoKitties co-founder Mack Flavelle is signing on with premier talent agency WME (also known as Endeavor) according to bubbling reports on Monday. Flavelle is well-respected within the NFT community as a co-creator of the ‘O.G.’ NFT project CryptoKitties in 2017, and joins a growing list of creators in the web3 space signed under the WME umbrella.

It’s the latest in a long spree of agency executives electing to pursue web3 representation to get be potential early movers in the next wave of entertainment. Let’s look at what we know from the early details of Flavelle’s signing.  Read more...

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Do Kwon, Where Are You? Interpol Issues Arrest Warrant For Fugitive Terra Co-Founder

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Now it happens, unsurprisingly: the Interpol is involved and wants a piece of Do Kwon, the disgraced co-founder of the Terra ecosystem which disintegrated drastically in May, multiple news outlets reported Monday.

Last week, the Singapore Police Force issued an arrest warrant for Kwon who, it said that time, was no longer in the country. He is believed to own a house in Singapore.

It seems like the Interpol was just giving Kwon time to show himself up following the ruckus of his whereabouts. Kwon tweeted last week “I am ‘not on the run’ or anything similar.”  Read more...

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Ethereum Co-founder Vitalik Buterin Expects Dogecoin, Zcash To Switch To PoS

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Ethereum Cofounder Vitalik Buterin feels that other blockchains, such as Dogecoin and Zcash should be following the same strategy now that the Ethereum merge has been completed.

Ryan Selkis asked Buterin at the 2022 Messari Mainnet if all networks should shift to proof-of-stake (PoS) method. Buterin responded affirmatively. Zooko Wilcox-O’Hearn, the founder of Zcash, was also in attendance.

Vitalik stated via video chat on Friday at the Messari conference:

“I anticipate that as proof of stake evolves, its credibility will only grow over time.”  Read more...

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How This NFT Project Raised $54 M With Backing From A Reddit Co-Founder

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Popular NFT collection Doodles raised $ 54 million in a recent equity funding, per a report from Forbes. The funding round was led by Reddit co-founder Alexis Ohanian, a long-time Doodles holder, via his venture capital firm Seven Seven Six.

The report claims that the NFT project was supported by other major names in the crypto industry with backing from FTX Ventures, Acrew Capital, and 10T Holdings. Doodles were launched in 2021 as a limited 10,000 items-only collection that has managed to surpass $ 100 million in total value.  Read more...

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Coingecko Co-Founder Shares Thought On Forked Tokens Ahead Of ETH Merge

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The upcoming ETH Merge remains a highly anticipated and hyped event in the crypto space. Also, it has created different reactions and beliefs among institutional participants. The Merge is a transition to a Proof-of-Stake consensus mechanism from Proof-of-Work. Also, the scheduled launch date is on September 15, 2022.

However, as the date for the Merge draws closer, more sentiments are building on its possible hard forks. A group of miners has been threatening to hard fork the Ethereum mainnet after merging it with the Beason Chain.  Read more...

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Dogecoin Co-Founder Rejects $14 Million Offer To Boost Image Of Dogechain

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Billy Markus, one of Dogecoin’s co-founders, can’t be bought with money – even if it’s… say — $ 14 million.

Dogechain, a relatively new digital currency that’s making some noise in the crypto industry, sought the outspoken infotech developer to promote the blockchain project.

Dogechain is designed to bridge the gap between the meme coin and Web3.

A Twitter user with the handle @RepeatAfterVee made Markus’s rejection of the offer public. The user said that Markus, who co-created the first meme coin with Jackson Palmer, declined an offer to tweet about – and perhaps boost – the image of Dogechain.  Read more...

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Nexo Co-Founder Antoni Trenchev Isn’t Worried About Tether (USDT)

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Antoni Trenchev, co-founder and managing partner crypto-backed lending platform Nexo (NEXO), is not worried about the ongoing scandal involving controversial stablecoin Tether (USDT) and Bitfinex. In a recent interview on Bloomberg TV, Trenchev broke down the market response to the news that the New York State Attorney General is suing Bitfinex and Tether parent iFinex. […]
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Quadrigacx Co-Founder Michael Patryn Is Actually Convicted Fraudster Omar Dhanani

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Quadrigacx Co-Founder Michael Patryn Is Actually Convicted Fraudster Named Omar Dhanani

Quadrigacx co-founder Michael Patryn is actually a convicted criminal who went by the name Omar Dhanani, a Bloomberg report alleges. Dhanani has been previously convicted of identity theft linked to bank and credit card fraud and sentenced to 18 months in a U.S. federal prison. He was later deported to Canada.

Also read: Spain’s 2gether Unveils Crypto Debit Card, as Polispay is Forced to Cancel its Mastercard

A Man of Many Faces

While Dhanani, now known as Patryn, refused to comment on the matter, Bloomberg claims to have obtained records that confirm the man’s criminal past and his changing of names twice, in 2003 and 2008. Patryn co-founded troubled Canadian exchange Quadrigacx with the late Gerald Cotten in 2013.  Read more...

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Reddit Co-Founder Says the Bear Market Has Been Healthy for the Crypto Industry

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Alexis Ohanian, the co-founder of Reddit and part-owner of the world’s most valuable esports team Cloud9, believes the prolonged cryptocurrency winter has been a net positive for the space, as it has allowed developers room to grow. In an interview with Yahoo Finance on Thursday, Ohanian gave his current take on the status of the industry, emphasizing that he […]
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Why NEO Co-Founder Erik Zhang Says Ethereum Will Overtake Bitcoin

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NEO appears to be losing ground in the popularity contest, at least lately. In the glory days of 2017, the “Chinese Ethereum” was a top 10 cryptocurrency with unstoppable potential. NEO was touted as being faster, better, and capable of handling way more transactions than other major networks. The hype surrounding the project was palpable.

The post Why NEO Co-Founder Erik Zhang Says Ethereum Will Overtake Bitcoin appeared first on CCN

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Tron Cryptocurrency is ‘Just Garbage’: Stellar, Ripple Co-Founder Jed McCaleb

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According to Stellar, Ripple, Mt. Gox, and e-Donkey co-founder Jed McCaleb, Tron is “just garbage.” McCaleb, who forked away from Ripple to create Stellar due to personal differences with the mission of Ripple’s corporate board at the time, also feels that the crypto market is doing well. He pointed out to Yahoo! Finance that it’s … Continued

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Zurcoin Co-Founder Alleges Most Exchanges Manipulating Cryptocurrency Market

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  Zurcoin co-founder Daniel Mark Harrison has alleged that the majority of crypto exchanges are actively engaged in manipulating digital asset markets, which threatens the long term stability of the market and also fundamentally contradicts cryptocurrency’s principle of decentralisation. In a post published on his Medium page, Harrison stated that exchanges are effectively stealing from

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Reddit Co-Founder: Blockchain Gaming Is Going to Be Big

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Alexis Ohanian, the co-founder of Reddit and part-owner of the world’s most valuable esports team Cloud9, believes that blockchain gaming is going to be big. Ohanian shared this revelation in a tweet on Thursday where he shared a recent thought piece by Peter Kieltyka, the co-founder of Horizon Blockchain Games. This is gonna be big.A New […]
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MLG Co-Founder Mike Sepso Launches Esports Advisory Firm

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The esports industry has been on fire lately, with the 12 highest-value teams now collectively worth around $ 1.7 billion. Add to this the fact that there have been 63 deals worth $ 2.34 billion conducted in 2018 alone, and it comes as no surprise that many established corporations, brands and advertisers are looking for ways to move into […]
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