Tag: Community

FTX Africa ambassadors face violent threats from community 

Brand ambassadors for FTX Africa are now facing life-threatening situations and public backlash following the platform’s financial collapse. Brand representatives for the bankrupt FTX Africa are encountering life-endangering challenges, with several reporting serious threats against them. The representatives were initially tasked with increasing the user base for FTX Africa, receiving a share of the user trading fees along with performance-based monthly incentives. FTX Africa’s official Telegram group once boasted a membership exceeding 10,000. Pius Okedinachi, who formerly oversaw educational efforts at FTX Africa, recounted his experience to CryptoX, noting that…

Elon Musk says posts busted by Community Notes won’t earn revenue share

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Posts corrected by X’s community-driven fact-checking feature will be “ineligible for revenue share,” to stem the flow of misinformation and sensationalism, says Elon Musk. In an Oct. 29 X post, the executive chairman said misleading or inaccurate posts “corrected” by Community Notes — manned by X’s crowdsourced fact-checkers will not be eligible for revenue share. Musk said the change would “maximize the incentive for accuracy over sensationalism” and claimed any attempted weaponization of the feature would be “immediately obvious” as the data is open source. Making a slight change to…

Ripple CLO and XRP community back SEC commissioner’s LBRY lawsuit dissent

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Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple Labs, and the XRP community have expressed their support on the X app (formerly Twitter) for Securities Exchange Commission(SEC) Commissioner Hester Peirce’s stance against the perceived “injustice” in the LBRY lawsuit. Alderoty showed gratitude toward Commissioner Peirce and suggested that when ongoing injustices occur in non-fraud cases, especially when consumers are still awaiting resolution for actual fraud cases, it might be necessary to disregard standard protocols and raise concerns more vocally and promptly, potentially even by submitting an amicus brief to…

Community reacts to SEC dropping XRP case and LBRY shutdown

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Ripple’s new win in the legal battle against the United States securities regulators has been marred for crypto enthusiasts by news of the blockchain platform LBRY shutting down operations, which has triggered the community to react. The U.S. Securities and Exchange Commission (SEC) announced its intention to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen on Oct. 19. The event marked a significant legal win for Ripple in the civil case filed by the SEC in late 2020. On the same day, LBRY, a major…

Google And MultiversX Join Hands, How The Big Tech Giant Will Support The Community

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In the next three days, our team at NewsBTC will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 and focused on the Metaverse, one of the hottest trends in crypto. On day two of the event, the MultiversX team, spearheaded by Beniamin Mincu, announced a partnership with big tech giant Google. The partners will work on driving adoption and “accelerating” the expansion of Web3 and the MultiversX ecosystem. MultiversX’s native token EGLD trends to the…

Anoma Foundation Backs Namada’s Community Builders Program

The Anoma Foundation is demonstrating its commitment to the cause of digital privacy by incentivizing and rewarding contributions to the Namada Community Builders Program. In an exciting development for the blockchain community, Switzerland-based blockchain non-profit Anoma Foundation has announced its support for Namada, a multichain privacy protocol, by launching a Community Builders Program. Namada’s Community Builders Program The Community Builders Program launched by Namada is a significant step toward its goal of achieving privacy and security in public blockchains. This program is centered on engaging the broader blockchain community in…

Reddit to Discontinue Blockchain-Based Community Points Program

In a bid to prioritize scalable reward programs, Reddit is terminating its blockchain-based Community Points program, a decision that has garnered significant attention in recent days, according to Techcrunch. The system, conceived to incentivize positive engagement among users, will cease operation by early November 2021. Program Overview Launched in 2020, Community Points were awarded to users who actively contributed to certain subreddits, thereby encouraging enriched content and dialogue. The points, essentially Ethereum tokens, were stored in Reddit’s Vault, a designated cryptocurrency wallet. Once rewarded, these points were immutable, neither Reddit…

Reddit to Shut Down Its Blockchain-Based Community Points System

Starting from early November, Community Points will no longer be available. It means that beta participants will no longer see their points in their Vaults, and will no longer earn points in their communities. American social news aggregation, content rating, and discussion platform Reddit has announced its decision to discontinue Community Points – a blockchain-based reward system. The company explained its decision by scalability challenges and regulatory concerns. Starting from early November, Community Points will no longer be available. It means that beta participants will no longer see their points in…

Reddit to wind down blockchain-based rewards service ‘Community Points’

Reddit has said it will soon shutter its long-running, blockchain-based rewards service “Community Points,” citing scalability concerns.  In an official Oct. 17 announcement in the r/cryptocurrency subreddit, a Reddit team member said while the platform saw “some future opportunities for Community Points, there was no path to scale it broadly across the platform.” The Community Points service, including the special memberships feature, will be wound down on Nov. 8. “At that point, you’ll also no longer see Points in your Reddit Vault nor earn any more Points in your communities,”…