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The Block CEO Resigns Amid Sam Bankman-Fried Loan Scandal
The Alpha: Michael McCaffrey, the former CEO of the crypto news publisher The Block, resigned today after it came to light that he failed to disclose a series of loans obtained from Alameda Research, the trading arm of Sam Bankman-Fried’s FTX, to restructure and provide capital to the publication in early 2021, according to a…
South Korea Advances Crypto Investor Safeguards With New Bill
In a significant move to bolster investor protection, South Korea’s National Assembly recently approved the Virtual Asset User Protection Act, the country’s first legal framework devoted to digital assets. The legislation, an amalgamation of 19 proposals from lawmakers, is expected to come into effect in one year, according to the Assembly’s official website. The South…
Owls NFTs Are Driving a Resurgence in ASCII Art
Owls NFTs have been on an absolute tear recently. Having dropped on March 3, the 10,000-piece collection of randomly-generated colorful text art owls has already done more than 11,000 ETH ($17 million) in trading volume on the secondary market and currently has a floor price of 0.184 ETH. Little is known about the collection, whose…
A Complete Rundown of the Art Gobblers Allow List Controversy
Art Gobblers is a truly unique NFT project. The collaborative result of Rick and Morty’s Justin Roiland and Web3 investment firm Paradigm, Art Gobblers is made up of 2,000 NFTs that “gobble” art — drawings made by people in the project community that can be minted as 1 of 1 NFTs themselves and displayed in…
$8 Million in Crypto & NFTs Mysteriously Burned
Burn, baby! Burn! This week, an unknown crypto user by the name of “nd4.eth” has garnered attention after “burning” or destroying approximately $8 million worth of cryptocurrency and high-valued blue-chip NFTs – with no explanation – leaving the crypto and NFT communities baffled and deeply curious. Unraveling the Mystery of the Spiritual Ethereum Burn! Mystery…
Louis Vuitton Announces $41,000 ‘Treasure Trunks’ NFTs
Two years after its first NFT foray, Luxury fashion house Louis Vuitton is again turning heads in the world of Web3. On June 6, the brand announced a collection of ‘phygital’ Treasure Trunk NFTs that will give owners access to exclusive future products, experiences, and a community of fellow holders. Priced at €39,000 (over $41,000)…