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Binance Smart Chain’s ‘biggest’ NFT artist is suing Elon Musk’s X Corp after the social media giant suspended his accounts, allegedly ignoring its own policy and costing him his livelihood. Jeremy Ryan, aka ‘NFT Demon,’ filed a lawsuit in California on Wednesday in which he accuses X (formerly Twitter) of unfairly suspending his seven accounts and ‘severely’ damaging his crypto and NFT businesses.  Ryan, who became an NFT artist after surviving brain cancer, says his record of minted art makes him the largest NFT artist on the Binance Smart Chain. His work has attracted support from numerous celebrities including John Cena and Snoop Dogg. However, he argues that being cut off from his accounts means he has “ lost his predominant source of income and livelihood ,” and that he is losing future profits that could be made if he was still active on X promoting his NFT work.      Screenshots taken of NFT Demon’s art, which mostly resemble other NFT projects such as Bored Ape Yacht ...

The world's leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance. The world's leading crypto exchange by trading volume, Binance, has reportedly applied to get registered under the money laundering control act introduced by the Financial Supervisory Commission (FSC) of Taiwan. FSC reportedly informed dozens of domestic crypto service providers that Binance is applying to get registered for anti-money laundering (AML) compliance , according to a report published in local media. The report cited Chen Peiyun, the co-founder of Taiwan’s currency exchange BitShine,  as the source of the information who revealed that the FSC named Binance as one of the exchange prospects that is planning to enter Taiwanese crypto market via AML compliance . Binance has not yet responded to Cointelegraph's request for comment. While the cryptocurrency industry is largely unregulated in Taiwan, the FSC introduced AML guidelines in July...

The AI metaverse company raised $54 million in a Series A round in July. Shara Senderoff and Aaron McDonald, co -founder s of AI and metaverse company Futurverse, have launched a new $50 million venture fund and studio. According to the Aug. 3 announcement, the fund is dubbed "Born Ready" and will invest in emerging technology ventures possessing collaboration potential with either Futurverse or metaverse blockchain The Root Network. The co-founders say Born Ready has already invested in firms such as FCTRY Lab, Power'd Digital, Polemos, and Walker Labs. Senderoff previously founded Raised in Space, a blockchain venture fund that has invested in over 20 crypto startups. Aaron was the co -founder and managing director of NetX Fund, with investments in more than 60 portfolio companies.  The firm says it plans to roll out an accelerator program in the near future. Futureverse previously raised $54 million in a Series A round led by 10T Holdings, including contributions f...

Du said the existing challenges were transitory and that he believes the industry would benefit from collective support. Jun Du, the co-founder of Huobi, has purchased 10 million Curve DAO Tokens (CRV) for $4 million from Curve Finance founder Michael Egorov, who is seeking to decrease his exposed loan position. In an initial tweet on August 1, Du made his intention known to acquire 10 million CRV tokens at the prevailing market rate of $0.40, a value established through various over-the-counter transactions involving Egorov and several members of the crypto community. A Block report states that subsequently, Du confirmed via direct message on Twitter that he successfully completed the purchase and decided to lock up the tokens as veCRV. This lockup provides him with voting rights on the Curve platform in return for keeping the token s inaccessible for a specific duration. Screenshot showing Jun Du's 10 million CRV token transaction.   Source: EtherScan The co-founder took to Tw...

New York Representative Ritchie Torres had an exclusive interview with Cointelegraph to discuss why retail investors are still at risk following the XRP court ruling. On July 13, 2023, United States District Court Judge Analisa Torres ruled that Ripple’s XRP (XRP) token should not be considered a security when sold on retail digital asset exchanges. Stuart Alderoty, chief legal officer at Ripple, told Cointelegraph that last week’s ruling makes it clear that the U.S. Securities and Exchange Commission’s (SEC) theory that a token can be an investment contract and, therefore, a security, no longer has support in the law. He said of the ruling: “That is not only a huge win for Ripple, but it’s a win for all of crypto in the United States. The SEC can no longer tout their record in crypto, which was, up till now, by and large, settlements with players that didn’t have the resources to fight back.” While this may be, New York Representative Ritchie Torres told Cointelegraph that the Ripple...

In an open letter, Cameron Winklevoss slammed DCG's Barry Silbert for allegedly playing the victim card while owing $1.2 billion to Gemini’s 232,000 Earn customers. Crypto exchange Gemini founder and CEO Cameron Winklevoss is again threatening to sue Digital Currency Group and its CEO Barry Silbert over delays in the resolution of Genesis for its Earn customers while slamming the CEOfor allegedly trying to play the victim card. In the July 3 “Open Letter to Barry Silbert,” Winklevoss alleged the DCG enterprise had engaged in “fraudulent behavior” via a “culture of lies and deceit” — which have come at the expense of Gemini’s 232,000 Earn users. Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/ErsYpcEjQD — Cameron Winklevoss (@cameron) July 4, 2023 Among the accusations, Winklevoss’ strongly-worded letter alleges that Silbert intentionally delayed resolution through “abuse” of the mediation process, stating:  "Mediation has given DCG an indefinite forbearance on ...

Decentralized solutions can make academic research more secure and more accessible. Academic institutions house some of the world’s most important data generated from years of research. Yet centralized data storage models are becoming a concern for many universities looking to keep critical information safe and accessible.  Danny O’Brien, a senior fellow at the Filecoin Foundation and Filecoin Foundation for the Decentralized Web (FFDW) — an independent organization that facilitates governance of the Filecoin network and funds development projects — told Cointelegraph that data stored by academic institutions is at risk of vanishing due to centralized storage models. To put this in perspective, a recent Filecoin Foundation survey found that 71% of Americans have lost information and records due to challenges like deleted hyperlinks or locked online accounts. Decentralized storage helps secure and distribute data To combat this, O’Brien explained that a handful of educational institu...

Griffin Gaming Partners and Bitkraft co-lead investors in a $12 million Series A funding round for MetaMask and Game7’s HyperPlay. On June 8, HyperPlay — a Web3-native game launcher — said it closed its Series A funding round after raising $12 million from investors, including co-leaders Griffin Gaming Partners and Bitkraft Ventures.  Other investors include MetaMask’s parent company ConsenSys, Ethereal Ventures, Delphi, Game7, Mirana Ventures and Monoceros Ventures. HyperPlay, which was established in November 2022 by MetaMask and Game7 DAO, says its platform tackles the Web3 gaming interoperability challenge “head-on,” providing interoperability for Web3 gaming, and allowing developers to work without being bound by centralized entities like Apple, Google and Steam. The platform says it aims to enable interoperability across all Web3 games through a wallet overlay on top of games that allows players to carry their MetaMask wallet inside native or browser-based games. HyperPlay’s g...

Volcano Energy said the funds would go toward developing a 241-megawatt power generation park. A public-private partnership in El Salvador pledging to pump $1 billion into creating a Bitcoin (BTC) mining farm has received its first $250 million. This first release of funds kickstarts a 241-megawatt (MW) power generation park in the country’s Metapán region. Volcano Energy, the company behind the site, said the funds would go toward developing the power generation park using solar and wind energy, which will eventually power the Bitcoin mining operation. Volcano Energy chairman Max Keiser took to Twitter on June 7 to announce the news. .@Volcano_Energy receives the first $250M of a $1 billion commitment that kickstarts 241 MW’s of #Bitcoin mining in El Salvador. “We Got The Power” https://t.co/j2wE6UJq0O pic.twitter.com/db3PZvFo4q — Max Keiser, sr. bitcoin advisor pres. Bukele (@maxkeiser) June 7, 2023 Bitcoin mining uses high-power computers hooked up to a global network, usi...

According to the cease and desist order, investors are being given the impression that Elon Musk endorses "TruthGPT Coin". The Texas State Securities Board, including several state regulators, have come together to issue cease-and-desist orders against Horatiu Charlie Caragaceanu and his organizations, The Shark of Wall Street and Hedge4.ai, for promoting two cryptocurrencies named TruthGPT Coin and Elon Musk AI Token. The orders seek to clamp down on what they claim is a fraudulent securities scheme attempting to capitalize on the growing buzz around artificial intelligence (AI). The TruthGPT Coin is being marketed as a crypto currency that utilizes an AI system called Elon Musk AI. The AI model can allegedly examine multiple digital assets, anticipate future crypto currency values, and distinguish lucrative Investments from fraud ulent ones. The parties involved are also promoting TruthGPT Coin as a highly profitable venture, even stating it could increase in worth by a s...

Despite Coinbase shares tumbling amid its legal battle with the U.S. SEC, Cathie Wood is still bullish on the crypto exchange. ARK Invest, the investment management firm founded by legendary investor Cathie Wood, has celebrated International Workers' Day by buying shares of the cryptocurrency exchange Coinbase. On May 1, ARK purchased 129,604 Coinbase (COIN) shares for its ARK Innovation exchange-traded fund (ARKK), according to an investor notification seen by Cointelegraph. The investment company also bought 23,456 COIN Stocks for the ARK Next Generation Internet ETF (ARKW) and 15,809 Coinbase shares for the Fintech Innovation ETF (ARKF). The entire purchase amounted to 168,869 Coinbase stocks, worth around $8.5 million. The acquisition makes up nearly 50% of total Coinbase shares bought by ARK last month. In April, ARK bagged a total of 304,300 COIN shares, worth $17.5 million. Previously, ARK bought 2.4 million COIN shares in March for about $117 million. The latest COIN pu...

The Web3 security firm urges the rogue developer to return 80% of the stolen funds and offers 20% as a white hat bounty. Blockchain security firm CertiK is launching a compensation plan with Ethereum layer-2 scaling platform zkSync Era to cover the $2 million lost during a public sale of Decentralized Exchange Merlin’s MAGE token. In a statement to Cointelegraph on April 26, CertiK reiterated it is investigating the exit scam and has also enlisted the remaining Merlin team to initiate the compensation plan. It said: “Initial investigations indicate that the rogue developers are based in Europe, and CertiK will collaborate with law enforcement authorities to track them down if direct negotiation is unsuccessful.” The Blockchain security company is urging the rogue developer to return 80% of the stolen funds, conceding 20% as a white hat bounty. The firm also pointed out that private key privileges are “committed to assisting impacted users” despite them being outside the scope of a s...

Building communities has become more crucial than ever in today’s rapidly changing art space, especially with the rise of NFTs. The importance of building communities cannot be underestimated in the rapidly changing art world, driven by technology and the explosion of nonfungible tokens (NFTs) in the last two years. An audience is a social media following, but a community is a group of people working toward a common goal. Art market economist and academic Magnus Resch has extensively researched the importance of communities and networks for artists. Resch holds a Ph.D. in economics and has studied at the University of St. Gallen, the London School of Economics and Harvard. In addition to lecturing at Yale, he has produced several publications about the economics of the art world. He has appeared in academic journals and major publications like The Wall Street Journal, The New York Times and Vanity Fair. Resch recently spoke to Cointelegraph about his latest book, How to Create and Sel...

The collaboration is set to allow users to build decentralized autonomous organizations quickly and securely, for less than 50 cents, with no coding required. Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has revealed that its infrastructure is now available on the Polygon network.  The collaboration between Aragon and Polygon Labs will offer users a cost-effective and accessible solution for creating and managing DAOs. The partnership will enable users to now build DAOs quickly, and securely, for as little as 50 cents, with no coding required. A DAO is an organization that is run through rules encoded as computer programs on a blockchain. Unlike traditional organizations, DAOs operate without a central authority or hierarchy and rely on a distributed network of stakeholders to make decisions and govern the organization. Through the partnership, users will be able to leverage Aragon’s “lean codebase” and Polygon's Layer-2 Block...

The successful bid comes a month after 88.6% of LinksDAO token holders voted in favor of putting in a “compelling offer” for the golf course in its governance vote. The decentralized autonomous organization (DAO)-operated golf startup, Links DAO is primed to become the new owner of the Spey Bay Golf Club in Scotland after successfully winning a bid to buy the course initially listed for just over $900,000. After winning the bid, the DAO has entered into an exclusivity agreement with the vendor and will look to formally close the deal in early April. We won the bid. WE'RE BUYING A GOLF COURSE!!! — Links (@LinksDAO) March 16, 2023 In the meantime, it is undergoing its “due diligence” phase before it officially puts pen to paper, according to CEO Jim Daily in a Twitter Spaces held on March 16. While the initial listing was a tick over $900,000, a report from Golf Digest suggested the final sale price is expected to be higher. Links CEO Daily said that they’re not planning on r...

Shareholders have accused the bank of falsely claiming to be “financially strong” just three days before it was seized by the state regulator. On March 14, a class action lawsuit was filed against the recently shut down crypto-friendly, New York-based Signature Bank, and its former chief executive office, Joseph DePaolo, chief financial officer, Stephen Wyremski, and chief operating officer, Eric Howell, for allegedly committing fraud Reuters reported.  Shareholders have accused the bank of falsely claiming to be “financially strong” just three days before it was seized by the state regulator. The lawsuit seeks unspecified damages for shareholders who held stock between March 2 and 12, 2023. The lawsuit was filed in federal court in Brooklyn by shareholders led by Matthew Schaeffer. The plaintiffs claim that Signature Bank hid its susceptibility to a takeover by making false or misleading statements about its health. The purpose of these statements was allegedly to curb fears spar...

The company disclosed that it has approximately $142 million in cash deposits at Signature Bridge Bank, which was set up by the FDIC after the shutdown of Signature Bank. Crypto mining firm Marathon Digital Holdings has assured investors that the firm's cash deposits at Signature Bank are secure and available for use as of Mar. 13. In a statement following the closure of New York’s Signature Bank, Marathon disclosed that it has approximately $142 million in cash deposits at Signature Bridge Bank. The Signature Bridge Bank was set up by the United States Federal Deposit Insurance Corporation (FDIC) to manage customer accounts at the recently shut-down Signature Bank. The bridge bank is aimed at ensuring the flow of funds is not interrupted while the regulator searches for a buyer to acquire the assets of Signature Bank. Marathon Digital Holdings' deposits that were held at Signature Bank, New York, NY are secure and available for use as of Monday, March 13, 2023. Read the full...

Several women suggested that education and grassroots training can be effective tools in promoting diversity within the Web3 ecosystem. Although the Web3 ecosystem is rapidly evolving, the industry still faces many challenges, one of which is its lack of diversity. The underrepresentation of women in the field remains a significant concern, as their involvement is indispensable in addressing some of the critical challenges in the sector. Web3, the next generation of the internet, is an exciting new space creating opportunities for entrepreneurs across various industries. While the field is still somewhat male-dominated, several influential Women entrepreneurs are significantly impacting the Web3 space. — Cointelegraph (@Cointelegraph) March 8, 2023 In a recent interview, several Women in the Web3 industry shared their experiences and insights on the importance of increasing the presence of Women in the field, as well as what can be done to achieve greater diversity . From takin...

Jessy, the name behind Jessy’s Hacker House, helped organize four rental houses in Denver for "genuine scrappy" individuals looking for networking opportunities and more. Thousands of developers, hackers, and crypto and blockchain enthusiasts descended upon Denver, Colorado in the United States for the ETHDenver conference from Feb. 24 to Mar. 5. With accommodation a limited resource in the Colorado capital city, many opted to seek refuge from the crowds and tight quarters at "hacker houses" — where sleep is optional and networking is the goal.  Jessy, the name behind one such house — Jessy’s Hacker House — organized four "hacker houses" that hosted 50 participants from the ETHDenver conference and BUIDLWeek — a series of workshops and events as well as a BUIDLathon allowing teams to compete for prizes and investments. Meeting with Cointelegraph at one of their houses on Feb. 28, Jessy and co-organizer Waylon Jepsen kept busy setting up posters and checki...