Autor Cointelegraph By Arijit Sarkar

Just did it: Nike enters the metaverse game following RTFKT acquisition

Just did it: Nike enters the metaverse game following RTFKT acquisition

Uverejnil používateľ | dec 14, 2021 |

Sportswear manufacturer Nike announced the acquisition of virtual sneakers and collectibles brand RTFKT. Nike becomes the biggest U.S.-based athletic products manufacturer through this partnership to join the metaverse bandwagon. A Cointelegraph report from Nov. 02 highlighted Nike’s submission of requests for patenting the words — namesake, swoosh logo and just do it — for use online and in online virtual worlds.” The filing was accompanied by two new job postings for virtual material designers, signaling the company’s intent to enter the metaverse. However, the new RTFKT acquisition confirms Nike’s interest in delving into the metaverse ecosystem:RTFKT is now a part of the NIKE, Inc. family. ‍ pic.twitter.com/5egNk9d8wA— RTFKT Studios (@RTFKTstudios) December 13, 2021According to Nike, acquiring RTFKT will help the company “deliver next-generation collectibles that merge culture and gaming.” John Donahoe, the president and CEO of Nike believes that the move helps accelerate Nike’s digital transformation efforts:“Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities.”Supporting this vision, RTFKT co-founder Benoit Pagotto said that “we’re excited to grow our brand which was fully formed in the metaverse.”Related: Adidas enters the Metaverse with NFT partnershipsOn the other side of the world, German sportswear manufacturer Adidas announced entering the metaverse after partnering with nonfungible token (NFT) companies, including Bored Ape Yacht Club, gmoney NFT and PUNKS Comic.Today we leap Into The Metaverse with @BoredApeYC, @gmoneyNFT & @punkscomic.It’s time to enter a world of limitless possibilities.https://t.co/LmgtrRn20c pic.twitter.com/40kU8tayrS— adidas Originals (@adidasoriginals) December 2, 2021

As Cointelegraph pointed out, an article on the Adidas mobile app said:“The Metaverse is where anyone can express their most original ideas and be their most authentic selves, in whatever form they might take. And thanks to the blockchain [and NFTs], those pioneers can own a piece of what they create.”Meta, who has also recently rebranded itself from Facebook, welcomed Adidas’ entry as it said “We can’t wait to see Adidas in the metaverse.”

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Binance Singapore withdraws crypto license application

Binance Singapore withdraws crypto license application

Uverejnil používateľ | dec 13, 2021 |

Crypto exchange Binance has withdrawn its license application for pursuing digital payment token (DPT) services in Singapore. Starting today, Binance.sg has stopped onboarding new users and will not allow Singaporeans to deposit cryptocurrencies or fiat on the exchange.By Feb 13, 2022, Binance plans to “wind down” all services that relate to dealing with cryptocurrency tokens. However, the exchange announced to take no responsibility for the users’ assets after the self-determined deadline:“With immediate effect, users must start to make plans to withdraw their crypto and fiat from Binance.sg. Accounts of registered users who have not passed KYC will be suspended.”Binance Singapore users are currently allowed to buy and sell crypto using their existing assets until Jan. 12, 2022. Starting Jan. 13, Binance.sg users will be barred from buying and selling crypto. During this phase:“Users can only withdraw and move their crypto to third-party platforms or crypto wallets; and/or withdraw their SGD. All accounts must be closed by 13 February 2022.”Binance plans to make further arrangements to release users’ assets upon an official request to the company’s customer service.Following the final date, Binance will not allow any Singapore users to close positions or withdraw crypto assets. “The locked crypto assets will be held in an escrow account and your fiat assets will be transferred to your StraitsX Personal Account,” the announcement read.“We recommend that you take action as soon as possible before the deadline for account closure (13 February 2022). Please note that BAS will not be held responsible for any losses that result from your failure to withdraw your assets and close your account by 13 February 2022.”Binance has not yet responded to Cointelegraph’s request for comment.Related: Binance reportedly in talks to launch crypto exchange in IndonesiaDespite the ongoing regulatory scrutiny, Binance continues to explore new jurisdictions for setting up localized crypto exchanges. Binance is reportedly in talks with Indonesia’s richest family, the Hartonos, for launching an exchange service. According to a Bloomberg report, Binance may soon finalize a crypto venture with Hartonos-controlled PT Bank Central Asia (BCA).If approved, the new BCA partnership will allow for the launch of a second crypto venture for Binance in Indonesia. The crypto exchange is also planning to expand to the United Kingdom in the next six to 18 months amid regulatory resistance.

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AscendEX loses $80M following ERC-20, BSC, Polygon hot wallet compromise

AscendEX loses $80M following ERC-20, BSC, Polygon hot wallet compromise

Uverejnil používateľ | dec 12, 2021 |

Crypto trading platform AscendEX suffered a loss of $77.7 million in a hot wallet compromise that allowed hackers to access and transfer tokens hosted over the Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (POLY) blockchains.Soon after realization, AscendEX proactively warned its users about the stolen funds, confirming that the hackers were not able to access the company’s cold wallet reserves.22:00 UTC 12/11, We have detected a number of ERC-20, BSC, and Polygon tokens transferred from our hot wallet. Cold Wallet is NOT affected. Investigation underway. If any user’s funds are affected by the incident, they will be covered completely by AscendEX.— AscendEX (@AscendEX_Global) December 12, 2021According to PeckShield, a blockchain security and data analytics company, around $60 million worth of tokens were transferred over the Ethereum blockchain. Tokens stolen from the Binance Smart Chain and Polygon are worth $9.2 million and $8.5 million respectively, as evidenced by EtherScan data.Estimated loss @AscendEX_Global: $77.7M in total ($60M on @ethereum $9.2M @BinanceChain $8.5M @0xPolygon). Here is the list of the transferred-out assets and their amounts on @ethereum pic.twitter.com/VC4DKOwu4f— PeckShield Inc. (@peckshield) December 12, 2021

Some of the popular tokens stolen in this hack include USD Coin (USDC), Tether (USDT), and Shiba Inu (SHIB). However, AscendEX is yet to officially confirm the exact worth of the tokens taken away by the hackers. The company also announced to help the affected users by covering up their losses due to this attack. Related: Bitmart hacked for $200M following Ethereum, Binance Smart Chain exploitJust last week on Dec. 05, a similar attack on crypto exchange BitMart resulted in a loss of nearly $200 million due to a hot wallet compromise hosted over the Ethereum and Binance Smart Chain blockchains. As reported by Cointelegraph, the hack was a straightforward case of transfer-out, swap, and wash:Transfer of stolen tokens on Bitmart. Source: PeckShieldWhile BitMart CEO Sheldon Xia confirmed the losses over Twitter, he announced a temporary stop on all withdrawals and deposits while further investigations were underway.The deposit and withdrawal function of all tokens will be resumed step by step, along with the recovery progress of security testing and public chain development. No worries, we are marching forward, security will be always the first priority.— Sheldon Xia (@sheldonbitmart) December 8, 2021

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Indian prime minister Modi's hacked Twitter account attempts BTC scam

Indian prime minister Modi's hacked Twitter account attempts BTC scam

Uverejnil používateľ | dec 12, 2021 |

The official Twitter account of Indian Prime Minister Narendra Modi got compromised earlier today, which was then used to share misleading information about the mainstream adoption of Bitcoin (BTC) and redistribution of 500 BTC among the Indian citizens. On Dec. 10, Modi said in a virtual event virtual summit hosted by US President Joe Biden that technologies such as cryptocurrencies should be used to empower democracy and not undermine it:“By working together, democracies can meet the aspirations of our citizens and celebrate the democratic spirit of humanity.”While the long-awaited Lok Sabha Winter Session, a parliamentary meetup intended to discuss the legality of cryptocurrencies in the region, did not conclude the government’s stance on crypto, hackers from unknown origins managed to take control of the prime minister’s account with over 73.4 million followers to declare Bitcoin as a legal tender.Bitcoin scammers declare the cryptocurrency as India’s legal tender. pic.twitter.com/uTe1R7XUWZ— Priya (@supesuonna) December 11, 2021While the hack happened at midnight in India (around 4:00 pm ET), Twitter user Priya was among the many crypto enthusiasts that took notice of the untimely tweet that read:“India has officially adopted Bitcoin as legal tender. The government has officially bought 500 BTC and is distributing them to all residents of the country. The future has come today!”The post also included a link that urged unwary investors to sign up and claim their share of BTC. However, this was the second time Modi’s Twitter account got hacked and was used for crypto scams.Soon after the hack, the unauthorized tweet was deleted and the hack was confirmed by the Prime Minister’s official account.The Twitter handle of PM @narendramodi was very briefly compromised. The matter was escalated to Twitter and the account has been immediately secured.In the brief period that the account was compromised, any Tweet shared must be ignored.— PMO India (@PMOIndia) December 11, 2021

As Cointelegraph reported, hackers were able to breach Modi’s Twitter account back in Sept. 2020. Under the pseudo name ‘John Wick,’ the hackers shared several tweets asking the prime minister’s followers to “donate generously to PM National Relief Fund for Covid-19.”Related: India misinterpreted private crypto ban, says crypto bill creatorThe launch of India’s crypto bill sparked new concerns around the ban of private cryptocurrencies. While the meaning of ‘private’ was yet to be interpreted in the parliamentary meeting, the lack of information sparked panic among investors. Clearing out the speculations around the crypto bill discussions, former Finance Secretary Subhash Garg, who was also the creator of the bill, dismissed the notion of banning “private cryptocurrencies” as a misinterpretation. In an interview with News 18, Garg said:“[The description of the crypto bill] was perhaps a mistake. It is misleading to say that private cryptocurrencies will be banned and to intimate the government about the same.”

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Reelected Miami mayor to take 401k retirement savings partly in Bitcoin

Reelected Miami mayor to take 401k retirement savings partly in Bitcoin

Uverejnil používateľ | dec 11, 2021 |

The long-standing mayor of Miami Francis Suarez has now announced plans to take a part of his 401(k) payout in Bitcoin (BTC) just a month after he started receiving salary in BTC. Soon after becoming the first United States lawmaker to accept a part of his salary in Bitcoin, Suarez wants to dedicate a part of his retirement savings to Bitcoin based on “a personal choice,” he said in an interview with Real Vision:“I just think it is a good asset to be invested in. I think it’s one that’s obviously going to appreciate over time. It’s one that I believe in.”Suarez highlighted that Bitcoin’s success is tightly tied to the confidence in the system, which is inherently an “open-source, un-manipulatable system”. The mayor revealed that he has started receiving salary payments in Bitcoin through the help of a third-party payment processor Strike.The mayor also shared that the city government accepts fee payment in Bitcoin from Miami residents. While the Mayor explores the various options for enabling the Bitcoin payments for retirement savings, Suarez is certain to establish a relevant system by 2022. Thank you Governor DeSantis for following Miami’s lead and welcoming crypto innovation and companies into Florida! Now it’s your chance to take the lead as Governor and take your next paycheck in Bitcoin… @RonDeSantisFL you in? https://t.co/Zppp8DCiMe— Mayor Francis Suarez (@FrancisSuarez) December 9, 2021Related: Miami will hand out free Bitcoin to residents from profits on city coinIn an effort to further drive Miami’s Bitcoin adoption drive, Mayor Suarez announced on Nov. 12 to give Bitcoin yield as a dividend directly to every eligible Miami resident. As Cointelegraph reported, the city of Miami will divide and distribute the BTC yields to residents earned by staking its in-house cryptocurrency, MiamiCoin, which was initially launched by Citycoins to fund municipal projects by generating yield. In a bid to transform the city into a major cryptocurrency hub, Suarez said:“We’re going to create digital wallets for our residents. And we’re going to give them Bitcoin directly from the yield of MiamiCoin.”

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