“The defendants ran a scam to drive up the price of digital artwork through false promises about developing a videogame,” U.S. Attorney Damian Williams said in a statement. “They allegedly took investor funds, never developed the game, and pocketed the proceeds. Digital art may be new, but old rules still apply: making false promises for money is illegal.” Source
Valentin Pletnev couldn’t use his ticket for a Mar-a-Lago Trump gala, so prominent crypto figure Ryan Selkis went instead. Neither expected the U.S. policy whirlwind that followed, but even as Pletnev upgrades his DeFi platform to promote ‘Yield for All,’ it still won’t be available in the country. Source
Since the launch of Ordinal inscriptions, Bitcoin-based non-fungible tokens (NFTs) have proliferated, with the blockchain documenting $3.82 billion in NFT sales across more than 3 million transactions. Bitcoin has now ascended to the fourth-largest blockchain by total NFT sales. From Counterparty to Ordinal: Bitcoin NFTs Hit $3.82 Billion in Sales In the first week of […] Original
The non-fungible token (NFT) market experienced another sluggish week, with overall sales dipping by 7.5% over seven days, reaching $121.4 million on June 1. Top blockchains by sales volume Over the last seven days, Ethereum (ETH) has stayed in first place as the leading blockchain for NFT transactions after overtaking Bitcoin (BTC) last week. According to data from CryptoSlam, the blockchain maintained its dominance with total sales of $37.43 million, despite an 11.24% decrease from the previous week. Bitcoin, the second most active blockchain for non-fungible token sales, raked in…
Penguiana, the distinctive penguin-themed meme coin on the Solana blockchain, continues to captivate the crypto community, achieving a new milestone by doubling its market cap to over $2.5 million according to Dexscreener. This surge in valuation underscores the strong investor confidence and community enthusiasm surrounding the project, especially with the impending launch of the GUIANA […] Source CryptoX Portal
A risk assessment conducted by the U.S. Treasury Department found that non-fungible tokens (NFTs) and related platforms are highly susceptible to use in fraud and scams. The risk assessment also warns that criminals can exploit NFTs to launder illicit proceeds or “obfuscate the source of funds.” NFTs Likely to be Used in Fraud and Scams […] Source CryptoX Portal
The Untold Story Behind Beeple's Historic NFT Sale: 'Token Supremacy' Excerpt Source
Youtuber and Internet investigator Coffeezilla has called out Artificial Intelligence (AI) company Rabbit for allegedly being built on a $6 million non-fungible token (NFT) scam. The company is accused of being responsible for the GAMA NFT Project “fraud” as part of a history of lies. Related Reading Down The NFT Fraud Rabbit Hole Stephen Findeisen, better known as Coffeezilla, published a YouTube video calling out Rabbit Inc. for being built on the remains of an alleged NFT fraud from 2021. The internet investigator revealed that the company is seemingly trying…
Over the last seven days, the non-fungible token (NFT) market saw sales reach $145 million, reflecting a decline of over 9% from the previous week. This downturn continues a trend of falling sales over recent weeks, with four out of the top five blockchains by sales volume seeing decreases during this period. Last week, as reported by crypto.news, sales of digital collectibles dropped by more than 11%, and this week, they fell by another 9.68%, totaling $145.01 million, per data from CryptoSlam. Bitcoin leading the pack As seen in previous…
Between May 10 and May 17, non-fungible token (NFT) sales totaled $150.56 million, marking an 8.97% decline from the previous week’s figures. NFT sales have consistently decreased on a weekly basis, as four out of the top five blockchains by sales volume experienced reductions during this period. NFT Market Sees Consistent Decline In February, from […] Source CryptoX Portal