Crypto Insider

2023-02-07 21:00:39 Logan Paul Faces ‘Rug Pull’ Class-Action Lawsuit Over CryptoZoo NFTs

Famed internet personality Logan Paul and NFT project CryptoZoo have been accused of engaging in a “rug pull” in a new class-action lawsuit. Announced in September 2021, CryptoZoo was marketed as an NFT-based game and billed as “an autonomous ecosystem”.

A filing made in the District Court of the Western District of Texas alleged that the defendants “executed a ‘rug pull’,” promoting CryptoZoo’s products using Paul’s online following “to consumers unfamiliar with digital currency products, leading to tens of thousands of people” purchasing these.  NFT line, promising certain benefits to consumers, but then the developers abandon the project and fail to deliver the promised benefits, while fraudulently retaining the buyers’ funds. Открыть/Комментировать

2023-02-07 14:00:46 a16z “Dominates” The Vote To Install Uniswap On BNB Chain With 15 Million UNIs

A Uniswap community poll to validate and select a cross-chain solution for this exchange on BNB Chain initially favored Wormhole. However, the final outcome will be quite uncertain and stated that a16z uses 15 million UNIs to “dominate” the vote. Because a16z was unable to gather enough votes to support LayerZero at the Temperature Check stage, he made a fresh move in the official Uniswap voting. According to statistics from the on-chain voting platform Tally, a16z voted “opposed” to the request to implement Uniswap V3 on BNB Chain. This quantity of votes accounts for 15 million UNI tokens (the most votes currently cast), and the balance swiftly becomes skewed. Invest in the project in line with the decentralized governance criteria of Uniswap. Открыть/Комментировать

2023-02-06 21:00:43 Meta is shutting down the Metaverse platform it recently bought

Meta is shutting down Crayta on March 3, 2023, after purchasing the DIY gaming platform less than two years ago, and user content will not be archived. Unit 2 Games recently broke the bad news to the Crayta community that the game-building platform will be shutting down next month. With so much time and effort invested, players expressed sadness in response to the Twitter announcement. If you’ve invested time in the platform, you need to make screen recordings of your favorite games and worlds to preserve those memories and share them with others. It’s sad to see creative effort wasted and that is always a risk with world-building games. Meta purchased Unit 2 in 2021 and game development never stopped. Открыть/Комментировать

2023-02-06 14:00:49 Wormhole Wins Vote to Be Uniswap’s Designated Bridge to BNB Chain

Wormhole, the crypto bridge platform, won a community vote on Tuesday to become the official governance bridge for Uniswap – the largest decentralized exchange platform by trading volume – when its version 3 platform arrives on Binance’s BNB Chain. The win grants Wormhole valuable new turf in an ongoing battle between bridge platforms – vital pieces of crypto infrastructure that allow users to pass assets and other data between blockchains. The Wormhole bridge will eventually be used to give Uniswap v3 users on BNB Chain the ability to participate in the Uniswap DAO’s Ethereum-based governance process. The Uniswap DAO, which allows holders of Uniswap’s UNI token to vote on major strategy decisions, voted 62% in favor of Wormhole. LayerZero, a leading Wormhole competitor, came in second with 37%. Открыть/Комментировать

2023-02-05 21:00:36 ChatGPT has reached 100M monthly active users in just 2 months after launch – the fastest growing consumer app in history.

By UBS's count, TikTok took nine months to reach 100 million MAUs, while Instagram took 30 months to hit the same benchmark. Открыть/Комментировать

2023-02-05 14:00:40 Ethereum-Based Decentralized Exchange Token Explodes 50% As Project Releases Yearly Report

An Ethereum (ETH)-based decentralized exchange (DEX) token has shot up 50% in just a few days after the project released a new annual report. The dYdX (DYDX) Foundation released its “inaugural ecosystem annual report” on Monday, which outlined the decentralized finance (DeFi) DEX’s development in 2022. In 2022, DeFi proved its resilience and demonstrated clear advantages over CeFi [centralized finance]. Market activity and sentiment highlighted the benefits of trustless technology, self-custody, and decentralization, including an opportunity for unparalleled transparency and fairness. We believe that these principles are key to the dYdX protocol’s success in the future.” The exchange’s native token, DYDX, was trading around $2.23 on Monday and has since skyrocketed to $3.36 at time of writing, a more than 50% increase. The 91st-ranked crypto asset by market cap is also up a whopping 180% in the past month. Открыть/Комментировать

2023-01-14 21:00:07 New York's attorney general has sued Celsius Network founder Alex Mashinsky for defrauding investors of billions of dollars by concealing the failing health of his now-bankrupt crypto lending platform. Открыть/Комментировать

2023-01-14 14:00:08 Game of Thrones finally dropped their highly anticipated NFT launch, and it sold out in just 7 hours after its release on Nifty's NFT marketplace.

Many on Twitter are now complaining over the quality of the collection's art, especially when compared to the quality of the show's art direction and visuals. Открыть/Комментировать

2023-01-13 21:00:07 NFT Inspect, a popular research tool used to measure the value of NFTs, announced via a tweet that it is closing its services on January 17.

The news comes as sales and trading volumes of NFT plummet. Data reveals that NFTs fell 77% to $1.7 billion in the Q3 of last year from Q2. An 84% decrease in resell profit was recorded during this period. Открыть/Комментировать

2023-01-13 14:00:06 Position Exchange Announces Launch of Decentralized Perpetual Trading Protocol

After a long period of unremitting efforts, Position Exchange is overwhelmingly honoured to announce that our Decentralized Perpetual Trading Protocol (DPTP) 2.0 - a 100% decentralized futures trading platform, has been officially released. On July 28, 2021, Position Exchange introduced itself to the world for the first time. A journey has gone by full of up-and-down events. Despite the crypto market volatility, the team has kept an optimistic outlook and, side by side built Position Exchange to become the ultimate crypto platform for all DeFi users. At the moment, Position Exchange has gained almost 720 thousand POSI holders, over $6.2 million Total Value Locked and numerous new features to be introduced. Открыть/Комментировать