Day: January 3, 2023

Car Manufacturer Maruti Suzuki Launches Metaverse Showroom Experience in India – Metaverse Bitcoin News

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Maruti Suzuki, one of the biggest car manufacturers in India, has announced that it is taking its customer retail experience to the metaverse. The company announced on Jan. 1, it would launch a VR (virtual reality) network for its Arena showroom series, allowing its users to experience the Maruti Suzuki Cars online or via authorized dealers. Maruti Suzuki to Prepare Metaverse Showrooms Car companies are beginning to take advantage of virtual reality and the metaverse to allow customers to have a different approach to their products. Maruti Suzuki, one of…

2022 Crypto Attacks Were Least in December, With $62M Lost in Heists, Certik Says

The year, overall, saw over $3.7 billion lost to various attacks, hacks and scams – making 2022 the worst year in the market’s history so far. Attackers gained over $3.2 billion in 2021. But 2022 was off to an even rockier start with a $325 million exploit of popular cross-chain service Wormhole, which was followed by a $625 million attack on Axie Infinity’s Ronin bridge, and then a $200 million exploit of the Nomad bridge. Source

SushiSwap Head Chef Suggests Cooking Up New Token Model

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On December 7, Jared Grey, the CEO and “Head Chef” of SushiSwap, suggested that the DEX is burning through cash like there is no tomorrow. According to the forum post made by Grey, the DEX has, more or less, a year and a half in headroom which resulted in the exchange enacting a 100% allocation from fees on its staking token xSUSHI.  This 100% allocation, however, is temporary until the DEX’s situation improves or new tokenomics are enacted. Will this proposal be the answer to SushiSwap’s urgent situation?  New Year,…

Su Zhu gets called out by the community as he fires off accusations against DCG

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As liquidity issues surround the Digital Currency Group (DCG), Three Arrows Capital (3AC) founder Su Zhu made a Twitter thread containing allegations against DCG and FTX. However, the founder immediately got called out by the crypto community for blaming others and not taking accountability.  In the thread, Zhu alleged that DCG had a role in the collapse of LUNA, now called Terra Classic (LUNC). Zhu claimed that the venture capital firm conspired with the FTX exchange to attack LUNC and made a profit by doing so. The 3AC founder also…

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Bithumb former chair Lee Jung-Hoon acquitted in the first instance

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Lee Jung-hoon, the former chair of the South Korean cryptocurrency exchange Bithumb, was found not guilty on Jan. 3 by the 34th Division of the Criminal Agreement of the Seoul Central District Court. Jung-Hoon was on trial under accusations of violating the Act on the Aggravated Punishment Of Specific Economic Crimes due to fraud. The case has been ongoing since October 2018, when the former chairman allegedly defrauded 100 billion won ($70 million) during negotiations for the acquisition of Bithumb from Kim Byung-gun, chairman of the cosmetic surgery company BK…

Bahamas regulator denies asking crypto exchange FTX to mint new tokens

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The Securities Commission of The Bahamas (SCB) has denied FTX debtors’ claims and expresses concern that the investigation has been ‘impeded.’ According to a statement released on Jan.3, The Securities Commission of The Bahamas (SCB) has had to correct material misstatements made by John J. Ray III, the representative of the United States-based FTX debtors, in press and court filings. The document stated that the Chapter 11 Debtors had “publicly challenged” the Commissions calculations of digital assets transferred to digital wallets under the Commission’s control in Nov. 2022. It argued…

Demand for Arbitration Filed Against Genesis Global Capital, DCG — Firm Accused of ‘Ochestrating a Sham Transaction’ – Bitcoin News

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Three Gemini Earn users have accused Genesis Global Capital of breaching a contract and have subsequently filed a demand for class arbitration with the American Arbitration Association. In addition, the three users assert that all transactions “constituted unregistered sales of securities” and therefore must be rescinded. ‘A Sham Transaction’ A demand for class arbitration in a case that pits three Gemini Earn users against Genesis Global Capital (GGC), its parent the Digital Currency Group (DCG), and Genesis Global Trading has been filed with the American Arbitration Association (AAA). According to…