NFL quarterback Trevor Lawrence, along with popular YouTube influencers Kevin Paffrath and Tom Nash, have reached a settlement in a lawsuit related to their endorsements of the now-defunct FTX cryptocurrency exchange. According to Bloomberg’s report on September 16, the terms of the settlement have not been disclosed. This development marks the first resolution among more than a dozen celebrities and firms accused of assisting Sam Bankman-Fried, the Founder of FTX, in alleged investor deception. He is set to face a criminal trial in Manhattan next month. Other high-profile individuals, including…
Month: September 2023
Billionaire Mark Cuban Loses $870K in Fresh Crypto Scam
Luckily, Cuban was quickly alerted and managed to move over $2.5 million worth of other crypto he had on Polygon to a Coinbase exchange address. It turned out to be a huge mistake for tech billionaire Mark Cuban when he decided to revisit crypto this past weekend. Having been inactive for several months, the Dallas Maverick owner thought it a good idea to look up his holdings, only to fall victim to a crypto scam. According to blockchain data, he lost around $870,000 worth of tokens to the attack after…
Klaviyo Increases IPO Target to $557M as It Prepares for NYSE Listing
Klaviyo has followed in the footsteps of Instacart and has raised its funding target for the upcoming listing, along with share price range. Marketing and data automation company Klaviyo Inc has reportedly boosted its initial public offering (IPO) target to $557 million. This boost now puts Klaviyo’s market valuation at about $8.7 billion. Last week, Coinspeaker reported that Klaviyo had a target of $518 million from the upcoming IPO and planned to sell 11.5 million shares for between $25 and $27. A filing with the United States Securities and Exchange Commission (SEC) revealed…
PUBG developer Krafton teases metaverse video game Overdare
Krafton’s Roblox-like video game is said to rely on generative artificial intelligence and be based on the game engine Unreal Engine 5. South Korea’s game developer Krafton, best known for its global mega-hit PlayerUnknown’s Battlegrounds (PUBG), is set to compete with Roblox with its new product, according to The Korea Economic Daily (KED), a business daily newspaper. As per the report, the new video game, Overdare (formerly Project Migaloo), is being developed with Naver Z, a metaverse unit of Naver Corp, a South Korean internet conglomerate. Overdare, a mobile-based user-generated…
Malta’s MFSA Seeks to Change Its Crypto Rulebook to Align With EU’s MiCA
MiCA, which takes effect in 2024, represents the world’s first comprehensive crypto regulation in a major jurisdiction, allowing service providers to operate across the bloc with a single license. As an EU member, Malta wants to align its crypto rules with MiCA and “ensure a smooth transition for Virtual Financial Assets (‘VFA’) Service Providers” in the country, the regulator said in its consultation. Source
Was The SEC In Bed With Ethereum? ETH Gate Explained
Conspiracy theory or one of the biggest scandals in crypto? The term “ETH Gate” has been on the lips of every XRP supporter in recent months and, increasingly, the broader cryptocurrency community. At the heart of this issue is the US Securities and Exchange Commission’s (SEC) decision to classify Ethereum (ETH) as a non-security, contrasting sharply with its ongoing legal action against Ripple and the XRP token.What is ETH Gate “ETH Gate” refers to a theory alleging that the Ethereum Foundation and ConsenSys have fostered close relationships with key individuals…
Chinese Venture Capital Firms Record Slower Growth in H1 2023
The second quarter of 2023 marked the fourth consecutive quarter of declines in deal value, highlighting the prolonged nature of the downturn. The Chinese startup ecosystem, once a hotbed for innovation and home to tech giants like ByteDance and Didi Chuxing Technology Co Ltd, has recorded a slower growth rate in the first half of 2023. A recent report from PitchBook revealed that Venture Capital companies in China invested $26.7 billion in 3,072 transactions over this time. While these data appear great at first look, a closer examination reveals a…
Tether Co-Founder William Quigley Sizes Up PayPal’s Stablecoin Ambitions
The payments world is blanketed by financial intermediaries, each extracting a toll for their services. Creating a stablecoin involves PayPal buying a basket of currencies and holding these yen, euros, rupees, won and so on in banks across the world. Once PayPal tokenizes the currency backed by those bank deposits, it has a private, multicurrency money supply that exists outside the global banking system and is free of any third-party toll collectors, Quigley explained. Source
Three Chinese AI Firms Launch IPOs in Hong Kong, Targeting $280M
These IPOs align with the broader trend of Chinese companies seeking public listings in Hong Kong, driven by regulatory scrutiny and market dynamics. Three prominent mainland China-based companies, led by Beijing Fourth Paradigm, a cutting-edge artificial intelligence (AI) software firm, have debuted on the Hong Kong Stock Exchange with initial public offerings (IPOs). Collectively, the companies plan to raise up to $280 million through the IPOs. Fourth Paradigm completed the necessary procedures for its IPO on the Hong Kong Stock Exchange back in July and received the official green light…
NFL Quarterback Trevor Lawrence Settles Lawsuit with FTX
NFL quarterback Trevor Lawrence has reached a settlement in a lawsuit involving FTX. This follows a trend of celebrities settling similar cases involving FTX promotions, including YouTubers Kevin Paffrath and Tom Nash. As Sam Bankman-Fried readies himself for a trial defense in Manhattan next month, court documents reveal that three celebrity promoters associated with his unsuccessful FTX cryptocurrency exchange have chosen to reach a settlement in the case. The lawsuit relates to the sponsorship deals struck by the trio before the crypto exchange FTX went bankrupt the last year. NFL…