Autor Cointelegraph By Ezra Reguerra

Meet the Snoop Dogg impersonator who walked around NFT.NYC

Meet the Snoop Dogg impersonator who walked around NFT.NYC

Uverejnil používateľ | jún 22, 2022 |

A man impersonating the hip-hop icon Snopp Dogg went around NFT.NYC to fire things up at the nonfungible token (NFT) event. While the intention was to bring fun to the event, there were some mixed reactions from the online community. In a tweet, Kevin Collier shared his encounter with the fake Snoop Dogg at the NFT event at Times Square. According to Collier, the guy who dressed up as the well-known rapper was not really Snoop Dogg, but rather an impersonator that was hired to “drum up excitement.” Collier added that the experience “feels like a metaphor,” hinting at the copyright issues surrounding NFTs. Twitter user Regiscake shared a photo of the fake Snoop Dogg with his VIP nametag saying Doop Snogg: Holy shit that name tag tho https://t.co/s4e3TOJQCK pic.twitter.com/3sHo1hqgBY— amosmelli (@regiscake) June 21, 2022While Doop Snogg was there to bring up the excitement in the event, not everyone was happy about it. Redditor synthpop criticized the move, pointing out that NFTs have fake art, fake hyp and a fake Snoop. “Everything is on brand so far,” they wrote. Reddit user az_is also wasn’t impressed by the fake Snoop Dogg. Expressing their dissatisfaction, the Redditor pointed out that NFTs, a technology that was created to protect authenticity are currently “being marketed with a fake version of a person.” Related: Snoop Dogg may be the face of Web3 and NFTs, but what does that mean for the industry?In April, the legendary rapper has also been noted as a strategic investor in a funding round of the on and off-ramp provider MoonPay along with “industry VIPs” like Justin Beiber, Bruce Willis and Ashton Kutcher. Following this, MoonPay has also recently partnered with Snoop Dogg’s Death Row Records to launch an NFT marketplace: #NFT platform MoonPay has partnered with Universal Pictures, Fox Corporation and Snoop Dogg’s Death Row Records. Together, the parties will launch the HyperMint #NFT marketplace. — Alt Crypto Gems (@AltCryptoGems) June 21, 2022

Back in March, the real Snoop Dogg and Billy Ray Cyrus released a single titled “A Hard Working Man.” Along with the single, metaverse company Animal Concerts backed the release with a 50,000-piece NFT drop. 

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Solana whale moves $25M of USDC debt from Solend to Mango Markets

Solana whale moves $25M of USDC debt from Solend to Mango Markets

Uverejnil používateľ | jún 22, 2022 |

The Solana (SOL) whale that was subjected to the potential takeover by a recent Solend governance vote has gotten in touch with the lending protocol and moved $25 million worth of USD Coin (USDC) debt to Mango Markets. In a tweet, Solend shared that the whale has acted on the team’s suggestion to move their position across various lending protocols. The act reduces the utilization of USDC within Solend, allowing its users to withdraw their assets once more. USDC utilization has dropped from 100% to 98% meaning users can withdraw again pic.twitter.com/RRCkIbHv51— Solend (we’re hiring!) (@solendprotocol) June 21, 2022While the move seems like a band-aid solution to a bigger liquidation problem, the Solend team highlighted that they are working with the whale and the Mango team to create a more long-term solution to the underlying problem. Apart from this, the lending protocol has also passed another governance vote that will significantly lower the account borrow limit that’s currently at $120 million USD to $50 million. Debt above the new limit set will be subject to liquidation no matter what their collateral value is.The protocol has also reduced the amount that can be liquidated within one transaction by lowering its maximum liquidation close factor to 1%. It also lowered the liquidation penalty for Solana from 5% to 2%. Both reductions are temporary and may change once the whale situation has been dealt with.Related: Solana NFT marketplace Magic Eden closes $130M Series B round at $1.6B valuationOn June 19, the Solend lending platform received criticisms for its SLND1 governance vote that aims to take over the whale’s wallet to mitigate risks. The vote closed with a 97% approval rating. However, it received many criticisms as the move goes against the principles of decentralization. Because of the negative feedback caused by the initial move, the lending platform decided to hold a second governance vote to invalidate SLND1. The second proposal was approved, gathering 1,480,264 votes in favor of disregarding the wallet takeover plan.

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Japanese film studio announces the production of a series based on crypto

Japanese film studio announces the production of a series based on crypto

Uverejnil používateľ | jún 21, 2022 |

Noma, a Japanese film studio, has announced that it is producing three feature films that are based on the world of cryptocurrencies. The first film, titled The Rhetoric Star, is already in production and will be released in 2024. In an announcement sent to Cointelegraph on Tuesday, Taichi Ito, the founder of Noma and a producer of the series, said that the trilogy aims to impart knowledge about the crypto industry through creative storytelling. Additionally, Ito proudly shared that their team is working with Bitcoin (BTC) experts and the award-winning sound designer Sefi Carmel. He also expressed confidence that The Rhetoric Star will “change the way” audiences learn about crypto. The film series is also produced by Mai Fujimoto, the CEO of Tokyo-based blockchain firm Gracone, and Ryo Nakatsuji, an executive at Japanese publisher CoinPost. Meanwhile, Japanese animator Haruna Gohzu, who has worked in popular anime like Pokémon, Fairy Tail and Demon Slayer will be taking the lead in the films’ animations. Sefi Carmel, who is designing the sounds for the films, mentioned that the team wants to create a series that relays insights from the world’s crypto experts to the masses in a “creative and accessible” way. He said that he’s honored to join the team and excited as the world steers towards “a virtual future dependent on blockchain, cryptocurrency, NFTs and the like.”Related: Japanese business giant Nomura to explore crypto and NFTs with new unitBack in February, blockchain gaming firm Animoca brands launched a subsidiary based in Japan to turn Japanese content into nonfungible tokens (NFTs). These include content from anime like Dragon Ball and My Hero Academia. Apart from anime, the firm will also explore content from games, art and sports. In April, Japan’s largest social messaging application, Line, launched an NFT marketplace in partnership with Japanese entertainment company Yoshimoto Kogyo. The social platform noted that it will offer up to 40,000 NFTs to its userbase.

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Celsius warns community about fake accounts, pauses Twitter spaces and AMAs

Celsius warns community about fake accounts, pauses Twitter spaces and AMAs

Uverejnil používateľ | jún 21, 2022 |

A week after it started its withdrawal freeze, crypto lending platform Celsius Network warned the community of a rise in fake social media accounts claiming to be affiliated with the company. In a blog post, the lending firm urged the community to be more vigilant as there’s an increase in accounts that are “falsely purporting to be associated with Celsius.” In the same post, the firm announced that it will pause some of its communication channels namely its Twitter Spaces and ask-me-anything (AMA) sessions to focus on its ongoing liquidity and operations issues. Additionally, the firm has highlighted that it’s working and communicating with regulators about the withdrawals, swap and transfer pauses, and is trying to find a solution. However, the firm did not mention any updates on when its users can resume withdrawals of their funds. Meanwhile, the Gamestop-style short squeeze movement for CEL on Twitter with the hashtag #CELShortSqueeze has trended in the Business and Finance category. Twitter users have been posting their CEL buys to show their support for the project. Bought some CEL at 0.40, SELL set to 20$ Lets get those shorting whales liquidated, shall we — Zodiac (@Zodiacpl) June 19, 2022Twitter user TheTwitOnline expressed their hopes that Celsius CEO Alex Mashinsky could notice how the community is supporting the project, in hopes that its team will work to give CEL further value and utility. Related: Crypto lending platform Babel Finance reaches counterparty debt agreementOn Monday, Simon Dixon, co-founder of the online investment platform BnkToTheFuture proposed a solution to the Celsius debacle. According to Dixon, the approach that Bitfinex used to deal with its infamous hack had been working and urged Celsius to do something similar. Sam Bankman-Fried, the CEO of FTX exchange, denied rumors that principal trading firm Alameda Research played a hand in the current Celsius crisis. On the other hand, Bankman-Fried has noted that Alameda is working to prevent further damage within the crypto sector because of Celsius’ issues.

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South Korean prosecutors ban Terra employees from exiting the country: report

South Korean prosecutors ban Terra employees from exiting the country: report

Uverejnil používateľ | jún 20, 2022 |

Terra (LUNA) employees are reportedly unable to leave South Korea as the country’s prosecutors imposed a departure ban on key developers of the project.Korean media outlet JTBC reported on Monday that an investigation team from Seoul Southern District Prosecutor’s Office has imposed a travel ban on key team members of Terraform Labs. The prosecutors imposed the ban to eliminate the possibility that key officials within the company may go abroad to avoid any further investigation. The report also highlighted that Terra CEO Do Kwon, who is a key figure in the investigation, is currently staying in Singapore, which is outside of the country. Because of this, the report highlighted that the prosecution may take measures like making Kwon’s passport invalid, before being able to launch a more comprehensive investigation on Kwon. In a tweet, Terra developer Daniel Hong shared that even former Terra employees have received an exit ban from the government. According to Hong, none of the employees were notified to avoid any possibility of destruction of evidence as the investigation continues. stop asking me why i couldn’t make it to NYC frens, this is why: the Korean government imposed an exit ban for all ex-@terra_money employees today pic.twitter.com/5Jds99ZNwQ— Daniel Hong (@unifiedh) June 20, 2022Hong also expressed disappointment with the ban. According to Hong, the ban shows that the employees are being treated as a criminal and is unacceptable. The developer noted that employees who might’ve been willing to cooperate may have changed their minds because of the ban. Related: Appeals court rules Do Kwon, Terraform Labs must heed SEC subpoena served in SeptemberIn May, a famous financial crimes investigation unit dubbed the “Grim Reapers of Yeouido” has been revived by the South Korean government to investigate the collapse of Terra. The team will consist of various regulators and will focus on prosecuting fraud and illegal trading schemes. Meanwhile, the exchanges in Korea have formed a new system that would ensure regulatory compliance and make united decisions to prevent another situation like what happened with Terra. The emergency system will be activated within 24 hours in the event that a case similar to the Terra fiasco appears.

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