Archive | January 2023

$700 Million Seized in SBF’s Robinhood Case: Crypto Saga Continues

• In November 2020, the FTX exchange filed for bankruptcy, leading to the arrest of Sam Bankman-Fried in the Bahamas and the seizure of his assets.
• In January 2023, federal prosecutors seized almost $700 million in assets and cash connected to SBF, primarily Robinhood shares.
• SBF has denied any misappropriation of customer assets, though the government believes that he purchased Robinhood shares with customer funds.

In November 2020, the crypto industry was shaken up as the FTX exchange filed for bankruptcy. This led to the arrest of Sam Bankman-Fried (SBF) in the Bahamas and the seizure of his assets by the federal prosecutors. Since then, other exchanges associated with FTX and funds on the platforms have gone down, including Alameda Research and BlockFi. After his release on a $250 million bond, SBF’s assets were seized, and his property taken by the federal prosecutors. He has also lost several professional ties as no firms or individuals want to be associated with him and his ongoing saga.

In the third week of January 2023, this saga took a new turn as federal prosecutors seized almost $700 million in assets and cash connected to SBF, primarily Robinhood shares. According to the federal prosecutor, SBF purchased Robinhood shares with customer funds. SBF had previously announced in May 2022 that he had made a purchase, a 7.6% stake, in Robinhood, which he said was an attractive investment. The seized accounts were in Silvergate Bank, under FTX Digital Markets, the Bahamian subsidiary of the exchange, with over $6 million.

The move by the government was the first concrete action taken to hold SBF accountable for the billions that went down with the exchange. However, SBF has denied any misappropriation of customer assets. This is a multi-party battle between BlockFi representatives, SBF himself, Caribbean litigants, and the FTX bankruptcy leadership. It remains to be seen if the government will be able to prove beyond reasonable doubt that SBF had misused customer funds. Until then, the saga continues.

This entry was posted on 29. January 2023, in Allgemein.

Coinbase CPO Surojit Chatterjee Cashes Out $105 Million Before Leaving

• Coinbase CPO Surojit Chatterjee will have made about $105 million from stock sales by the time he leaves office on Feb. 3, 2023.
• Estimates made by compensation experts and checked by two executive compensation experts suggest that Chatterjee has made about $115 million since he joined the crypto exchange from Google in February 2020.
• According to his SEC filings, Chatterjee sold his options in 65 different transactions, mostly in 2021, which netted him about $102 million in cash gains.

Coinbase chief product officer Surojit Chatterjee is set to leave the company on Feb. 3, 2023, but not before he has cashed out a whopping $105 million in stock sales. Estimates made by compensation experts DL News, counterchecked by two executive compensation experts, suggest that Chatterjee has made about $115 million since he joined the crypto exchange from Google in February 2020.

When Coinbase went public, Chatterjee’s stake in the company was reportedly worth about $180.8 million. He was also expected to receive share options over the next five years that, based on Coinbase’s stock price at the time, would’ve been worth $465.5 million in total. Additionally, the crypto exchange had reportedly implemented a requirement for its executives to trade their stock options on a regular basis.

Chatterjee has been taking advantage of the high stock price of Coinbase, selling his options in 65 different transactions, mostly in 2021. This has resulted in him earning a staggering $102 million in cash gains. Despite the huge windfall, Coinbase has continued to lay off employees, with Chatterjee himself acknowledging the “painful” process.

All told, Surojit Chatterjee is set to leave Coinbase with $105 million in stock sales. It remains to be seen if he will jump back into the crypto space, or take some time off to enjoy the fruits of his labor.

This entry was posted on 26. January 2023, in Allgemein.

Revolutionizing the Cannabis Industry: BudBlockz Brings Secure and Transparent Access to Cannabis Products

• BudBlockz is a crypto project running on the Ethereum blockchain that seeks to enhance operations in the cannabis markets.
• It has established the first-of-its-kind decentralized e-commerce platform that will bring together cannabis consumers and producers, powered by its utility token, BLUNT.
• BudBlockz is also creating an NFT platform to provide users with access to an array of high-quality cannabis products, securely and transparently.

BudBlockz is a revolutionary crypto project that seeks to revolutionize the cannabis industry. Running on the Ethereum blockchain, BudBlockz is designed to enhance operations in the cannabis markets, providing users with a secure and decentralized platform to buy and sell cannabis-related products.

At the heart of the project is the BudBlockz utility token, BLUNT. The total number of BLUNT that will enter circulation is limited to 420m, and these tokens will be used to facilitate transactions at dispensaries, farms, factories, and other cannabis-related businesses. This ensures that users can buy and sell cannabis products securely and transparently, enabling them to access high-quality products from around the world.

In addition to its utility token, BudBlockz is also creating an NFT platform. This platform will provide users with access to an array of high-quality cannabis products, securely and transparently. The platform will also enable users to trade cannabis-related products and assets in a safe and secure manner.

The vision of BudBlockz is to onboard over one billion users to web3 by 2025. With its groundbreaking technology and innovative solutions, BudBlockz is well on its way to achieving this goal. By providing users with a secure and transparent platform to access cannabis products, BudBlockz is revolutionizing the cannabis industry and giving users the ability to buy and sell products securely and easily.

This entry was posted on 21. January 2023, in Allgemein.

. Josh Sell Joins N3twork Studios as COO to Supercharge Blockchain Game Development

• N3twork Studios, a blockchain game developer and publisher, has appointed former Tinder Chief Product Officer Josh Sell as its new Chief Operating Officer.
• Sell will assist N3twork Studios President Matt Richetti in managing the studio’s daily operations and play a role in the development of Legendary: Heroes Unchained and Triumph.
• Previously, Sell supervised a slew of Tinder releases throughout his tenure, probably most notably the explore Tab, which brought a whole new approach for singles all around the globe to discover matches.

N3twork Studios, a blockchain game developer and publisher, has recently announced the addition of Josh Sell as its new Chief Operating Officer. Sell, the former Chief Product Officer of Tinder, will be assisting N3twork Studios President Matt Richetti in managing the studio’s daily operations and play a role in the development of Legendary: Heroes Unchained and Triumph.

Josh Sell has a wealth of experience in the tech industry and was instrumental in a number of Tinder releases throughout his tenure, most notably the explore Tab, which brought a whole new approach for singles all around the globe to discover matches. Prior to joining N3twork Studios, Sell co-founded the cutting-edge Web3 gaming firm Midnight, where he helped to develop the business’ interoperability strategy.

Upon accepting his new position, Sell commented: “There is a tremendous chance for success here. Before joining, I tried the product(s) and fell in love with them.”

N3twork Studios is made up of more than 80 professionals who have worked on some of the highest-grossing free-to-play games from EA, Kabam, Zynga, Glu, Disney, and others. The studio is currently focused on the development of Legendary, a Web3 RPG that will offer players the chance to earn rewards through playing and trading in-game assets. The studio is also working on Triumph, a Web3 game that will allow players to compete with each other in a series of tournaments and earn real-world rewards.

With Sell now onboard, N3twork Studios is set to accelerate their production of these games, offering players the chance to experience something truly unique and revolutionary. Sell’s appointment is just the latest in a string of exciting personnel changes that the studio has made, signalling their commitment to creating innovative and immersive experiences. We can’t wait to see what N3twork Studios has in store for us in the near future.

This entry was posted on 13. January 2023, in Allgemein.

Unlock New Power Sources in Skill-Based Dookey Dash NFT Game

• Yuga Labs, the design studio behind Bored Ape Yacht Club (BAYC), is introducing a new skill-based NFT minting and game.
• The multi-stage drop will begin on Jan. 17 with a free mint branded “Sewer Passes,” which will be given to active members of the Bored Ape Yacht Club and the Mutant Ape Yacht Club.
• Participants need these tokens to take part in the new, skill-based game Dookey Dash, which will be available on Jan. 18.

The NFT ecosystem is set to expand with the introduction of Yuga Labs’ new skill-based NFT minting and game. Founded by the minds behind Bored Ape Yacht Club (BAYC), the multi-stage drop will begin on Jan. 17 with a free mint branded “Sewer Passes”. These tokens will be given to active members of both the Bored Ape Yacht Club and the Mutant Ape Yacht Club with the sole purpose of taking part in the new, skill-based game Dookey Dash.

The game is designed to test the players’ skill and knowledge, with the challenge to get a score higher than 0. The Sewer Pass holders that successfully manage to do this will be rewarded with a new power source. The conclusion of this peculiar process will become clear on Feb. 15, when play on Dookey Dash is finally put to a stop.

BAYC announced that they will be releasing more information about the upcoming drops and the new power sources through their social media accounts, including an explainer video. This is an exciting opportunity for NFT enthusiasts to participate in something new and potentially lucrative. With the release date for Dookey Dash getting closer, it is important for players to make sure they have their Sewer Passes ready and to keep an eye out for new information from BAYC.

This entry was posted on 13. January 2023, in Allgemein.

Ensuring Bitcoin ATM Security

The utility of cryptocurrencies has increased after the launch of Bitcoin ATMs. Bitcoin ATMs make it simpler for customers to buy and trade bitcoin, increasing its use by the general public. However, there are more security dangers associated with this enhanced accessibility. As a result, it’s critical to guarantee the security of Bitcoin ATMs. The many methods for guaranteeing Bitcoin ATM security will be discussed in this article, along with some of the security issues they may pose.

Advantages of Utilizing a Bitcoin ATM

Users can benefit from bitcoin ATMs in a number of ways. One benefit is that they make it simpler to buy and trade cryptocurrencies. They frequently charge lesser transaction costs than other ways of converting money as well. At Wealth Matrix take security very seriously and provide customers with a safe platform to buy, sell, and exchange cryptocurrencies. Because of this, they are a desirable alternative for anyone searching for a less expensive way to acquire and sell bitcoin.

Protocols for Securing Bitcoin ATMs

To safeguard consumers’ money, Bitcoin ATMs often include a number of security mechanisms. Two-factor authentication, which necessitates the user to input both a physical and a digital security code in order to access their funds, is one of the most popular. In order to secure customer data, many Bitcoin ATMs also use encryption technologies. As a result, even if the machine is compromised, the data will remain safe.

Developing a Secure Bitcoin ATM Network

Building a secure network for Bitcoin ATMs is crucial for ensuring their security. This entails installing firewalls and other security tools to shield the devices from outside dangers. The software of the devices should also be updated often in order to keep up to speed on any potential security flaws.

Defending against threats to bitcoin ATMs

It is crucial to take precautions against possible attacks in addition to creating a secure network. To do this, monitoring systems must be installed to look for any unusual behavior. Furthermore, it is crucial to make sure that all Bitcoin ATMs are updated with the most recent security fixes.

Risks to Security from Bitcoin ATMs

Bitcoin ATMs still have certain inherent hazards despite the security precautions that may be implemented. For instance, if users do not employ secure authentication mechanisms, they may be susceptible to fraud. Additionally, if the system is compromised, users run the danger of having their money stolen.

Securing Bitcoin ATMs better

Artificial intelligence (AI) technology implementation is one method for enhancing the security of Bitcoin ATMs. Fraud may be avoided by using AI to identify suspicious behaviour. AI may also be employed to keep an eye on the network for any possible risks.

Keeping a Secure Record of ATM Transactions Using Bitcoin

Maintaining a secure log of all transactions is crucial for ensuring the security of Bitcoin ATM transactions. The transaction’s time and date, the sum of money transferred, and the user’s identification should all be included in this log. The prevention of fraud and other security threats can be aided by maintaining a safe log of Bitcoin ATM transactions.

Protocols for Authenticating Users of Bitcoin ATMs

Implementing authentication mechanisms is crucial for ensuring the security of Bitcoin ATM users. In addition to other techniques like biometrics or ID verification, this can also involve two-factor authentication. Users may be certain that their funds are secure by putting these mechanisms into place.

Conclusion

Users have an easier time buying and selling cryptocurrencies thanks to bitcoin ATMs. To preserve user cash, it is crucial to make sure that they are secure. Users may be certain that their transactions are safe by putting the different security mechanisms covered in this article into practice.