Twitter CEO Elon Musk on Wednesday delighted fans of the counterculture non-fungible token (NFT) collection Miladys, when he shared a meme containing the instantly recognizable image of one of the avatar NFTs overlaid with the words, “There is no meme, I love you.” Source
On May 10, nonfungible token (NFT) financialization protocol ParaSpace published several alleged irregularities tying its CEO, founder and chief technology officer Yubo Ruan to the mismanagement of funds equaling 2,909 Ether (ETH) recovered through a white hat interception that occurred on March 18. Ruan denied any wrongdoing, writing: “Manufacturing claims with the intent to take over and force me to step down as CEO. This is highly problematic and the legal team has taken action.“ Dear ParaSpace Community, TL;DR: There have been no malicious acts from the team. All funds…
Epic Games CEO Tim Sweeney is just as optimistic about the Metaverse as ever, after poking fun at a recent suggestion that online virtual worlds are “dead.” The now-billionaire video game entrepreneur — creator of the Unreal Engine and Fortnite — took to Twitter on May 9 to mock a newly published article from Business Insider titled “RIP Metaverse, we hardly knew ye.” The metaverse is dead! Let’s organize an online wake so that we 600,000,000 monthly active users in Fortnite, Minecraft, Roblox, PUBG Mobile, Sandbox, and VRChat can mourn…
The acquisition of Credit Suisse by the bigger bank has been viewed using different lenses by industry observers. Swiss multinational investment banking firm UBS Group AG (SWX: UBSG) has announced that Ulrich Koerner, the CEO of Credit Suisse, will be joining the executive board of the new joint entity. The update comes a few weeks after an emergency purchase of Credit Suisse by UBS was facilitated by regulators. UBS confirmed the announcement according to a news release, emphasizing that Koerner will be in charge of maintaining Credit Suisse’s operational continuity…
Meanwhile, the defunct FTX continues to pursue various options to recover customer funds. Former FTX CEO Sam Bankman-Fried has on Monday filed an ex parte motion before a Federal Court. The motion, as filed through the office, seeks to dismiss 10 out of 13 US charges against the former CEO. The remaining charges include conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering. Interestingly, the former CEO previously pled ‘Not guilty” to all the allegations laid against him. According to Bankman-Fried’s attorneys, the…
Ripple CEO Brad Garlinghouse has revealed that his company is spending $200 million defending itself against the SEC in its lawsuit over xrp. The executive expects a decision on the lawsuit in three to six months. “If we win the lawsuit, it’ll be clear what xrp is, but the rest of the industry is still going to be unclear. And the whole crypto industry needs regulatory clarity in the U.S. to really thrive,” said the Ripple boss. Ripple’s CEO Shares New Info on SEC Lawsuit Over XRP The CEO of…
Ripple is opening an office in the heart of Dubai International Financial Centre (DIFC) and acquiring Swell Global 2023. Ripple, one of the most popular cryptocurrency firms, has announced its expansion in other countries. The company is all set to expand to Dubai, according to Chief Executive Officer Brad Garlinghouse. Garlinghouse also disclosed the development at the Dubai Fintech Summit that is happening today and talked passionately about the customer base in the Middle East. According to him, the regulatory operations have made the country a good choice for setting…
Garlinghouse expects the Judge to issue a summary ruling on the SEC vs Ripple case before the end of this year. The SEC vs Ripple Labs lawsuit is slated to be one of the largest legal fights for blockchain and cryptocurrency development in the United States for the next decades. Already, hundreds of projects on Ethereum using the ERC-20 standard, and other Layer One blockchains that undertook initial coin offerings (ICO) in the United States are eagerly waiting for the final ruling by Manhattan District Judge Analisa Torres. From the…
Coinbase CEO Brian Armstrong says the firm is confident it can pull through the current anti-crypto regulatory crackdown that is stirring uncertainty across the industry. During Coinbase’s first quarter earnings call, Armstrong says the exchange remains completely committed to making things work at home in the US. Coinbase recently received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) warning of a potential coming enforcement action against the company for alleged violation of securities laws. “So let me be clear, we’re 100% committed to the U.S. I founded…
The SEC served Coinbase with a Wells Notice in March to signal an upcoming enforcement action against the exchange. The CEO of top American cryptocurrency exchange Coinbase Brian Armstrong has hinted that the exchange will not bow to pressure from the US Securities and Exchange Commission (SEC). Armstrong, who has been openly critical of SEC and its chair Gary Gensler, made more accusations on Monday. In a bare-it-all interview with CNBC on Monday, Armstrong suggested that Gensler leads some form of personal campaign against crypto. He says: “There’s kind of…