Day: January 18, 2022

UK launches crackdown on ‘misleading’ cryptocurrency ads

boss

The crypto ecosystem has expanded significantly in recent years. While institutions such as the IMF are starting to embrace its innovation, they are also calling for investors to exercise caution. Jakub Porzycki | NurPhoto via Getty Images LONDON — The U.K. government says it will bring cryptocurrency ads under tighter scrutiny and crack down on “misleading” claims that may cause investors to lose money. Finance Minister Rishi Sunak plans to bring the ads under the same rules for financial promotions, according to proposals announced Tuesday. The government will introduce legislation…

Australian Regulator Warns Against Investing Retirement Funds in ‘High Risk’ Crypto-Assets – Regulation Bitcoin News

boss

An Australian regulator has warned residents seeking to self-manage their retirement funds to be wary of investing in crypto-asset investments that promise high returns in a short space of time. The regulator reiterates in the warning that crypto-assets are a high-risk and speculative investment. Scammer Tactics The Australian financial services regulator, the Australian Securities and Investments Commission (ASIC), has warned residents that self-manage their superannuation funds to be wary of scammers that are using the lure of quick and high returns offered by crypto assets to defraud unsuspecting victims. The…

NFT-focused Animoca Brands valued at $5B following $358M raise

boss

Hong Kong-based software and venture firm Animoca Brands has secured $358.8 million in capital investments to fuel new acquisitions in the nonfungible token (NFT), gaming and metaverse sectors, further cementing crypto’s biggest trends in 2022.  The funding round was led by Liberty City Ventures and had participation from some of blockchain’s biggest venture funds, including 10T Holdings, Gemini Frontier Fund, ParaFi Capital, Provident, Sequoia China, and Winklevoss Capital, among several others. Animoca said the capital injection will go towards financing strategic acquisitions and investments, product development, and license acquisition for…

Animoca Brands Valuation More Than Doubles to $5.5B in Three Months

Animoca Brands, an investor in non-fungible token (NFT) and metaverse projects, raised almost $360 million at a valuation of $5.5 billion. The funding round represents a doubling in Animoca’s value in less than three months. The venture capital firm raised $65 million at a $2.2 billion valuation in October last year. Liberty City Ventures led the round, which included contributions from Winklevoss Capital, Soros Fund Management and 10T Holdings. Animoca plans to use the funds to fuel acquisitions and investments, product development and licenses for popular intellectual properties, according to…

UK Treasury wants to remove blockchain reference from crypto definition

boss

The United Kingdom is actively looking to regulate the crypto market and has proposed many new policies to bring various crypto markets under the rule of law. However, among the various newly proposed suggestions, what turned many heads is the request to remove blockchain and Distributed Ledger Technology (DLT) references from the definition of crypto assets. BRITAIN SETS OUT PLANS FOR REGULATING CRYPTO ASSETS, PROPOSES TO REMOVE REFERENCE TO BLOCKCHAIN FROM THE DEFINITION OF CRYPTO ASSETS — *Walter Bloomberg (@DeItaone) January 18, 2022 A new crypto report titled “Cryptoasset promotions: Consultation…

The World’s First Virtual Mars NFTs Are Selling Rapidly

boss

Mars4 is a multi-tiered project that combines NFTs, Crypto and an immersive survival game together that will provide a window to a virtual Mars and a broader range of investment opportunities via the world’s first revenue-generating NFT. The sale of Mars4 NFTs raised over $250K in a day and saw land plots sell swiftly via the Epoch System. Epochs: Tiered Crypto Returns Mars4 NFTs represent geographically-exact plots of land across the face of Mars, created with data from NASA and other space agencies, to be fully realized in modern 3D…

Multichain asks users to revoke approvals amid ‘critical vulnerability’

boss

Cross-chain router protocol Multichain (formerly Anyswap) urges users to revoke approvals for six tokens to avoid loss due to a “critical vulnerability” that is currently being exploited by malicious individuals. Users who approved WETH, PERI, OMT, WBNB, MATIC and AVAX on the Multichain platform are now at risk, experts warn. To avoid loss, the Multichain team advises users to cancel all of the approvals given to the specified tokens so that they can protect their crypto assets. Multichain also published a step-by-step tutorial on how users can easily revoke approvals. In…

Multichain Says $1.4M in Ether Siphoned From Users Who Failed to Update Approvals

Multichain users who didn’t update their approvals as instructed yesterday have been exploited and have lost 445 wrapped ether ($1.4 million), the project tweeted on Tuesday. On Monday, Multichain instructed its users to remove approvals for six tokens and said otherwise their assets would be exposed to a security vulnerability. The tokens in question were WETH, PERI, OMT, WBNB, MATIC and AVAX. Decentralized finance security firm Dedaub first found the flaw, which Multichain said it had fixed. Later on Tuesday, crypto security firm PeckShield revealed the wallet address where the…