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Bitcoin maxis have branded Coinbase an ‘enemy of Bitcoin’ and accused it of ‘cultural misappropriation’ after the crypto exchange decided to sell pizza with USDC on Bitcoin Pizza Day. On May 22, Coinbase set up a pizza truck selling slices for $1 worth of USDC. Coinbase said it was “celebrating how far crypto has come since 2010 in helping to create a cheaper, faster system.” However, some crypto enthusiasts weren’t impressed by the USDC pricing. Users on X (formerly Twitter) claimed the crypto exchange should be ‘ashamed,’ questioned why the truck wouldn’t accept bitcoin, and said Coinbase is behaving like a ‘bad actor.’ BREAKING NEWS Bitcoin Maxis are attempting to destroy the Coinbase pizza truck. pic.twitter.com/XQGshtGTIe — rasmr (@rasmr_eth) May 22, 2024 One attendee filmed themselves next to the Coinbase truck claiming, “The Bitcoin pizza guys are trying to beef with Coinbase .” One man can then be seen walking by with a sign that reads “ It’s Bitcoin ...

Nathaniel Chastain will reportedly have until Nov. 2 to surrender himself following his conviction for wire fraud and money laundering related to insider trading on OpenSea. A federal judge has sentenced former nonfungible token (NFT) marketplace OpenSea product manager Nathaniel Chastain to 3 months in prison for wire fraud and money laundering related to insider trading on the platform. In an Aug. 22 announcement from the United States Department of Justice, U.S. Attorney Damian Williams said Chastain had been sentenced to 3 months in prison, 3 months of home confinement, and 3 years of supervised release in addition to being ordered to pay a $50,000 fine and forfeit ill-gotten Ether (ETH) from the NFT trades. Inner City Press reported he would be required to surrender himself on Nov. 2, with Chastain's lawyers planning to appeal the decision and request bail. “Respect for the law and general deterrence militate for punishment,” reportedly said the judge at sentencing. “But [Cha...

NFTs were introduced to the world to help solve the illegal use of intellectual property and protect artists — the very thing Yuga Labs has been accused of doing. The iconic wolf skull logo of Bored Ape Yacht Club (BAYC), Yuga Labs’ premier nonfungible token (NFT) collection, was allegedly illegally trademarked without proper licenses. The image was originally released by a company specializing in drawing tutorials for children and beginners. NFTs were introduced to the world to help solve the illegal use of intellectual properties and protect Artists — the very problem Yuga Labs has been accused of doing. Crypto Twitter member and NFT artist @Jdotcolombo came across a post from April 5, 2021, in which Easy Drawing Guides advertised “an easy step-by-step drawing tutorial” for a wolf skull . Website showing time stamp of the art's release. Source: EasyDrawingGuides.com The art displayed by the company closely resembled BAYC’s official logo, which initially raised suspicion of wron...