Tag: Crypto

Kim Kardashian’s Crypto Instagram Ad Censured For Possibly Misguiding Decisions



Image via Kathy Hutchins / Shutterstock.com

On Monday, the chairman of the UK’s Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR), Charles Randell, warned against potential cryptocurrency “investment fraud and scams” that may have come in the form of… Kim Kardashian?

His speech at the Cambridge International Symposium on economic crime included a discussion on risks associated with “token regulation” and “rules which protect people from investment fraud and scams.”

Kardashian’s Instagram story was called out in particular, which was posted to over 200 million followers in June. Describing it as a financial promotion with probably “the single biggest audience reach in history,” he highlighted the risks associated with the advertisement.

Although Instagram’s guidelines dictate that she needed to disclose the story posts were a paid advertisement, they didn’t state she needed to make the audience aware of the currency.

Ethereum Max, not to be confused with the popular and established Ethereum, was still a speculative token created a month ago by “unknown developers.”

He clarified that it didn’t mean the token was definitely a scam, but cites his wariness on how influencers are “routinely paid by scammers to help them pump and dump new tokens on the back of pure speculation.”

It’s a dangerous game to play, especially when the 250 million potential people reached by that ad doesn’t signify 250 million people who are well-versed in investing in crypto.

The “hype” created by a celebrity endorsement also may evoke “a powerful fear of missing out” from consumers who don’t buy into the currency, scam or not. Some of these coins turn out to be totally non-existent.

Randell warns that people who buy the “speculative tokens” may not be aware that they haven’t already been regulated. Additionally, the unregulated activity might then bleed into previously authorized business.

In these two cases, he states, regulators should retain power to “reduce the potential harm to consumers from purely speculative tokens, not least to ensure that trust in the overall technology isn’t destroyed by bad actors in this space.”

[via
Bitcoin.com, image via Kathy Hutchins / Shutterstock.com] http://www.designtaxi.com/news/415625/Kim-Kardashian-s-Crypto-Instagram-Ad-Censured-For-Possibly-Misguiding-Decisions/

First Bitcoin Ad Produced By A National Government Recognizes It As Legal Tender

[Click here to view the video in this article]



Video screenshot via Gobierno de El Salvador

In just a week’s time, Bitcoin will become legal currency in El Salvador, a global first. Plus, it has plans to mine cryptocurrency using power from its volcanoes.

Now, to promote the cryptocurrency to the masses, the country has released the first-ever Bitcoin advertisement produced by a national government.

According to Finbold, the commercial assures citizens that it’s not compulsory to use Bitcoin, but they can choose to receive or spend money either in dollars or the cryptocurrency.

As per a translation done by Reddit user u/felipebrunet, the advertisement said, “Starting in September, Bitcoin will be legal currency in El Salvador, along with the USD… You will have the option to pay and charge with Bitcoin or with USD.”

Additionally, citizens will be able to access the government’s wallet app to make transactions in Bitcoin or US dollars without incurring any fees. Upon downloading the wallet, they will also be entitled to a gift of US$30.

With cryptocurrency gaining steam among financial investors worldwide, it probably won’t be long before another country joins El Salvador in making Bitcoin legal tender. But, for now, enjoy the world’s first national Bitcoin advertisement below.

[via Finbold, cover image via Gobierno de El Salvador] http://www.designtaxi.com/news/415538/First-Bitcoin-Ad-Produced-By-A-National-Government-Recognizes-It-As-Legal-Tender/

Coinbase Users Left High And Dry After Hackers Drain Entire Accounts


Image via ID 183384995 © Dušan Zidar | Dreamstime.com

Coinbase, the United States’ largest cryptocurrency exchange, has come under fire for leaving users to fend for themselves after hackers drained their funds.

The Vidovics, a family in Safety Harbor, Florida, had turned to Coinbase as a way to cash in on the cryptocurrency boom. However, in late April this year, they received a series of security alerts and password change notifications for their account. Horrifyingly, before they could even reset their login credentials, hackers had drained them of the US$168,000 in holdings.

Following the incident, the Vidovics tried to get in touch with Coinbase’s customer service representatives, but couldn’t get anyone on the phone. According to CNBC, interviews with Coinbase users around the country and reviews of thousands of complaints have revealed that the Vidovics weren’t the only ones who experienced the ordeal.

Many said their holdings had suddenly vanished from their account, with them unable to get in touch with the exchange’s customer service. They were left with no money, and no help.

“I looked into Coinbase, and it seemed like it was one that everybody used and trusted,” said Tanja Vidovic.

She had good reason to do so, seeing as the company went public in April with a market cap of US$65 billion. According to CNBC, it boasts 68 million users, with more than 2,100 full-time employees in its offices. Why then, could none of the users with hacked accounts get in touch with representatives?

Since 2016, users have filed more than 11,000 complaints with the Federal Trade Commission and Consumer Financial Protection Bureau (CFPB) against Coinbase.

Ben, a user in Virginia, had the same thing happen to him when US$35,000 disappeared from his Coinbase account in March. He sent an email to the company, asking for help to retrieve the money. However, in response, Coinbase said Ben’s computer had been hacked, and there was nothing the company could do to help him.

“I really am baffled. It just seems to me that Coinbase did absolutely zero research and just said, ‘Hey, yeah, sorry,’” he said.

Ben then filed a complaint with the CFPB, who referred him to a response from Coinbase’s Regulatory Response Team. In the email, he was notified that transactions on blockchain couldn’t be reversed, and the exchange’s policy didn’t cover theft from individual accounts.

“There is no credible or supportable evidence that the compromise of your login credentials was the fault of Coinbase. As a result, Coinbase is unable to reimburse you for your alleged losses,” the email read.

Eventually, after more complaints, Ben received US$200 credit from the company.

Recently, following a review of the complaints made against Coinbase, the Better Business Bureau determined it had a “pattern of complaints from customers who state they are locked out of their accounts, even after providing required information or updates.”

The bureau sent a letter to Coinbase to address the complaints, though it has “not heard a response from this business, about the situation [or] pattern of complaints for the last three years.”

Although some users were fortunate enough to get a response from the company, most of the victims took to social media to seek help. With so many years of complaints building up, it’s strange that a public-listed firm hasn’t cleared the air with its users just yet.

[via CNBC, cover image via ID 183384995 © Dušan Zidar | Dreamstime.com] http://www.designtaxi.com/news/415451/Coinbase-Users-Left-High-And-Dry-After-Hackers-Drain-Entire-Accounts/

PayPal To Bring Its Crypto Buying, Selling, & Holding Services To UK Users

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Image via PayPal

PayPal has just announced that it is launching its cryptocurrency service in the UK, allowing users to buy, hold, and sell digital currencies. After first launching in the US last year, the UK marks the first country that the service is expanding into.

There are four types of cryptocurrencies available—Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Customers can view real-time prices via the PayPal mobile or desktop app, as well as access educational content regarding crypto as a whole.

Integrating the option to use its pre-existing app makes crypto more accessible to everyone, as it has always been seen as a more specialized offering to a market of users who are already proficient in it.

“Having that on a platform like ours makes a really good entry point,” says Jose Fernandez da Ponte, General Manager of Blockchain, Crypto and Digital Currencies at PayPal.

“The pandemic has accelerated digital change and innovation across all aspects of our lives,” da Ponte states. The “digitization of money and greater consumer adoption of digital financial services” is cited as one of them in the news release.

He also tells CNBC that the service has been doing “really well” in the US, and that the company expects that it will also find success in the UK. The crypto offering comes as a result of a partnership with Paxos Trust Company, a US-based digital currency company.

The minimum amount required to purchase crypto starts from as little as £1 (US$1.36), and the option can be accessed through the app.

The service starts rolling out this week and will be available to all eligible customers in the coming weeks. It will feature #Bitcoin, #Ethereum, #BitcoinCash and #Litecoin directly within the PayPal digital wallet. Details here: https://t.co/zdvT4AwXit

— PayPal UK (@PayPalUK) August 23, 2021

[via CNBC, image via PayPal] http://www.designtaxi.com/news/415386/PayPal-To-Bring-Its-Crypto-Buying-Selling-Holding-Services-To-UK-Users/

Dogecoin Owners Can Now Buy Tesla Cars With The Currency—But Indirectly



Image via Tesla and photo ID 110232751 © Jiri Hera | Dreamstime.com

Tesla used to accept payments for its electric vehicles (EVs) in Bitcoin, but later stopped this due to environment concerns, citing the use of fossil fuels and its detrimental impacts as the reason in a statement on Twitter.

However, founder and CEO Elon Musk has expressed interest in accepting cryptocurrency again. In particular, Dogecoin, a meme-based currency that Musk is a fan of. He has declared it to be “pretty cool” and “might be [his favorite] cryptocurrency.”

Dogecoin might be my fav cryptocurrency. It’s pretty cool.

— Elon Musk (@elonmusk) April 2, 2019

But it won’t be a direct transaction; a third-party company called Bots Inc will offer merchants Bitcoin payments for their EVs, having consolidated with Mark Cuban and Musk himself. Cuban’s claim that Dogecoin is the strongest cryptocurrency was backed up by Musk.

The EVs bought via the company will be pre-owned, but used Tesla EVs still fetch a pretty penny. According to Bots Inc’s press release, a Model 3 can sell for up to US$53,000. Due to the ongoing chip shortage and production delays, used cars aren’t expected to fall in value anytime soon.

Bots Inc will allow merchants to buy cars using other currencies besides Dogecoin, though it doesn’t state exactly which. Nevertheless, this makes it one of the first ever publicly traded companies to accept Dogecoin as payment, and it surely won’t be the last.

Dogecoin is the people’s crypto

— Elon Musk (@elonmusk) February 4, 2021

[via Bitcoinist, image via Tesla and photo ID 110232751 © Jiri Hera | Dreamstime.com] http://www.designtaxi.com/news/415322/Dogecoin-Owners-Can-Now-Buy-Tesla-Cars-With-The-Currency-But-Indirectly/

Inaugural ‘Dogepalooza’ Dogecoin Festival Is Coming This Year, Is It Much Wow?


Image via Dogepalooza

If you’ve heard a lot about Dogecoin this year, you aren’t the only one. From Axe making it into a body spray, to Elon Musk launching it as the “first meme in space” and Oscar Mayer successfully selling 10-pack ‘Hotdoge’ wieners for US$15,001, it’s been everywhere. Now, Dogecoin is set to become an even bigger part of pop culture with the inaugural ‘Dogepalooza’ festival.

The event has been described as “an authentic, community-driven” one. Its first installation will take place at the Constellation Field in Sugar Land, Texas, on October 9, with the organizers planning to expand it to “multiple cities and countries around the globe.”

While the full lineup has yet to be released, iconic soul singer Dionee Warwick has been announced as one of the festival’s first headliners. According to NME, her son, Damon Elliott, will also appear with a performance, alongside acts by DJ Nomad and pianist Chloe Flower.

Tickets to Dogepalooza are already on sale, with general admission costing US$125 and VIP passes going for US$300. The tickets can be purchased using—of course—Dogecoin, but organizers do mention that “all currencies are encouraged and welcome” at the event.

For more information, head to the festival’s site here.

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A post shared by Dogepalooza (@dogepalooza)

[via NME, cover image via Dogepalooza] http://www.designtaxi.com/news/415258/Inaugural-Dogepalooza-Dogecoin-Festival-Is-Coming-This-Year-Is-It-Much-Wow/

PokémonGO But Crypto? New Game Lets Those Who Gotta Catch ’Em All Score Dogecoin

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Image via DogemonGO

A new crypto-based augmented reality (AR) game has popped up on the App Store, borrowing a rather familiar concept, name, and even characters to a certain other popular AR title.

DogemonGO is a mobile game which leverages the resounding success similarly AR-based mobile game PokémonGO and meme-rooted cryptocurrency Dogecoin have had. It’s still a very new game with a small following, but the developers have shared some interesting tidbits from it on the game’s Twitter page and website.

‘Dogemons’ are representative of individual currencies, such as a dog named Floki, representing Dogecoin, a lion named Bion for Binance, and Etherfant the elephant for Ethereum.

There’s also a suspiciously familiar one named Cake, who bears almost the same silhouette to a classic, instantly recognizable Pokémon, Eevee. While the others are all reminiscent somewhat of different Pokémon, this one is probably the most noticeable.

🥁Dogemon Reveal Time👉

It's the Master of Decentralised Exchanges on #BSC 😎; Say Hello! to Cake 🎂

Cake, of course represents @PancakeSwap, and will be the latest Dogemon joining DogemonGo!

Catch & Earn #DOGO & #DOGE🐶 pic.twitter.com/UVROcAgpLx

— DogemonGO (@DogemonGoApp) August 4, 2021

Players are able to use the AR map to catch Dogemons, and find crypto while they “prey” on other Dogemon. There is the opportunity to earn Dogecoin by playing, which can be withdrawn into an external wallet and even Soulja Boy appears to be having a great time with it.

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A post shared by Soulja Boy (Big Draco) (@souljaboy)

Besides being a “fun paradise” for players, the game is also positioning itself as an “advertising paradise.” Users who own projects, tokens, coins, or even more conventional real-life spaces such as restaurants and stores can integrate them into the DogemonGO world, presumably within the AR map.

The Only Game to earn Double the $DOGE – Play for Free & Hold $DOGO !!

Hold #DOGO & Earn Real #Dogecoin!

💰Market Cap – From $15,000 (Fair launch) 👉 $1.8 Million in less than 48 Hrs!

APK- https://t.co/TERJFBqDPx

Coming soon to iOS & Android Stores

📱 https://t.co/2wJGoaFNsi pic.twitter.com/3uD4O6Hz9z

— DogemonGO (@DogemonGoApp) August 4, 2021

The game is available to download on iOS devices and an Android version is currently being developed, although users are welcome to download the APK file from the website before an official version goes up on the Play Store.

Given Nintendo’s strict policies when it comes to its property, it’ll be curious to watch further developments of this game.

In the meantime, you can keep yourself entertained with the trailer below.

🚀 START NOW AND CATCH YOUR FIRST DOGEMON!

Start catching Dogemons today & If you’re a great trainer, you can find Crypto Currency as prey among other Dogemons.

The Dogemons are waiting for you!

🌀https://t.co/yRE6hjp0Gl
📲 https://t.co/2wJGoaFNsi pic.twitter.com/4TqYj2YAKv

— DogemonGO (@DogemonGoApp) July 9, 2021

[via Bitcoin.com, image via DogemonGO] http://www.designtaxi.com/news/415222/Pok-monGO-But-Crypto-New-Game-Lets-Those-Who-Gotta-Catch-Em-All-Score-Dogecoin/

Hacker Who Stole Over $600M From Crypto Platform Is Actually Returning The Money


Image via ID 154978003 © Ovydyborets | Dreamstime.com

Earlier this week, decentralized finance (DeFi) platform Poly Network took to social media with an open letter pleading hackers to return US$611 million worth of cryptocurrency, which had been stolen in the largest DeFi heist to date.

Out of the total, US$237 million were Ethereum tokens, US$253 million were Binance tokens, and US$85 million were from the Polygon.

The letter, which the network published via Twitter, offered the hacker a way out, having said the anonymous individual “should talk to us to work out a solution.”

Following the attack, the CTO of Tether managed to freeze US$33 million of the stolen cryptocurrency. Blockchain security firm SlowMist also offered its help to Poly Network, and claimed it knew the email and IP address of the hacker.

Now, in a surprising twist of events, it seems the threat might’ve worked, with the hacker returning US$4.7 million at first. According to TechSpot, the money came with a private note, which read: “It would have been a billion [dollar] hack if I had moved remaining s**tcoins! Did I just save the project? Not so interested in money; now considering returning some tokens or just leaving them here.”

Just minutes after the first transaction, the hacker created a token, aptly named “the hacker is ready to surrender,” and sent it to a Polygon address. It retrieved approximately US$1 million for the Polygon network, before doing the same with three other cryptocurrencies.

In total, the hacker retrieved everything stolen from the Binance smart chain, leaving the remaining Ethereum and Polygon Network tokens in limbo. Will the anonymous criminal eventually return the whole US$600 million? Keep a lookout as this incredible saga unfolds.

[via TechSpot, cover image via ID 154978003 © Ovydyborets | Dreamstime.com] http://www.designtaxi.com/news/415202/Hacker-Who-Stole-Over-600M-From-Crypto-Platform-Is-Actually-Returning-The-Money/

Crypto Platform Gets Robbed, Pens Open Letter Asking Hacker To Return $600M


Image via ID 183384995 © Dušan Zidar | Dreamstime.com

A decentralized finance (DeFi) platform, Poly Network, penned an open letter on social media pleading hackers to return approximately US$600 million worth of cryptocurrency, which the firm said had been stolen.

The platform said the theft had consisted of wrapped bitcoin and wrapped ether, among other cryptocurrencies, making this the largest-ever heist in cryptocurrency history.

“Dear Hacker, We are the Poly Network team,” started the letter, which was published on Twitter. “The amount of money you hacked is the biggest one in defi history. Law enforcement in any country will regard this as a major economic crime and you will be pursued. It is unwise for you to do any further transactions. The money you stole are from tens of thousands of crypto community members, hence the people. You should talk to us to work out a solution.”

According to Mashable, the Poly Network allows different blockchains to communicate with one another, which is why the hack was able to take place across three different platforms: Binance Chain, Ethereum, and Polygon.

Expectedly, this massive hack has called into question the security of the DeFi space. Poly Network said after a preliminary investigation, the cause of the vulnerability was “between contract cells, [the] exploit was not caused by the single keeper as rumored.”

Many players in cryptocurrency responded following the incident, locking down some of the stolen funds. The CTO of Tether, another cryptocurrency, said he froze nearly US$33 million worth of Tether after learning about the hack.

Poly Network has yet to respond about the hack or if the hacker did get in touch or return the cryptocurrency. Chances are, the users who were hacked will never see their coins again, with this heist sparking a new wave of skepticism towards DeFi in general.

pic.twitter.com/Yzw4oDenjC

— Poly Network (@PolyNetwork2) August 10, 2021

[via Mashable, cover image via ID 183384995 © Dušan Zidar | Dreamstime.com] http://www.designtaxi.com/news/415192/Crypto-Platform-Gets-Robbed-Pens-Open-Letter-Asking-Hacker-To-Return-600M/

Oscar Mayer Sold A ‘Hot Doge Wieners’ 10-Pack For $15,001 On eBay


Image via Oscar Mayer

Doge, it seems, is the new Supreme logo. Slap that side-glancing shiba inu on anything, or have Elon Musk mention the name in a positive light, and you’ve got a bestseller. So, to appease the public’s insatiable appetite, hot dog producer Oscar Mayer branched out to add a new type of hot dog, Doge, to its offerings.

Last Thursday, the Kraft Heinz-owned company listed ‘Hot Doge Wieners’ on eBay, with only one of the 10-pack going up for sale. “Very meat. So wiener. Much taste,” its description reads. And there to sell the sausages, of course, was the internet’s favorite shiba inu.

WE’RE BACK and this time with 💰even more💰 much wow. This limited-edition pack of Hot Doge Wieners now comes with the cash value of 🚀20,000 DOGECOINS🚀 Only one pack exists though, so bid it to get it at https://t.co/LBOo9Nz2tH (Proceeds ➡️ @FeedingAmerica ) pic.twitter.com/FsGOtMGlC4

— Oscar Mayer (@oscarmayer) August 5, 2021

The main draw, though, was the cash equivalent for 20,000 DOGE that Oscar Mayer had promised to include with the package for its only buyer in the world.

The pack went up with a starting bid of US$0.99, but closed on August 8 with a final sale price of US$15,001.

Oscar Mayer says all proceeds made from this one-off sale will be donated to US hunger relief nonprofit Feeding America.

WE DID IT! The #DogeArmy sent our Hot Doge Wieners 🚀TO THE MOON🚀 and raised 🤯$15,001.00🤯 for @FeedingAmerica – The auction is officially closed so we’ll send this meaty prize out to the winner for them to 💎HODL💎 forever. Thank you all and remember: #DoOnlyGoodEveryday pic.twitter.com/Yw3AVi9MLd

— Oscar Mayer (@oscarmayer) August 8, 2021

[via Bitcoin.com, images via Oscar Mayer] http://www.designtaxi.com/news/415149/Oscar-Mayer-Sold-A-Hot-Doge-Wieners-10-Pack-For-15-001-On-eBay/

Meet the Wolf of Wall Street, Online in April

#PRSNTS

PRSNTS offer Corporate Business Events for Global Entrepreneurs for the Networking, Technology & Sports Hospitality Sectors.

After 10 years of experience as MD of a global networking & events company, Paul Smolinski uses his years of experience and vast network of high level global entrepreneurs and speakers to provide global world class speaker events.

After working with the likes Sir Richard Branson, Lord Sugar, Grant Cardone, Michelle Mone, Hilary Devey, Les Brown, Dr John Demartini, Brian Tracy, Sharon Lechter, Kevin Green, Jairek Robbins, Tom Zigglar, Kevin Harrington from Shark Tank, many Apprentice winners & Dragon’s Den stars, Paul has a number of high profile Events lined up for 2021 including this Wolf of Wall Street online event in April 2021, featuring Jordan Belfort.

Event Details – Meet Wolf of Wall Street, Jordan Belfort on Thursday 22nd of April 2021 from 7pm to 9pm (UK time)!

Click here for more info – https://thewolfofwallstreet.prsnts.co.uk

The Headline Sponsor for this event is Lanelay Hall Hotel & Spa

Other Events

PRSNTS have previously done Rugby, Football and Rugby Hospitality events including Rugby away trips, Corporate Rugby Hospitality Six Nations Events & Six Nations Launch events, as well as Corporate Football Hospitality Events and Corporate Golf Events, all featuring Sports Stats and Sporting Celebrities etc. And we will be providing more of these sports hospitality events as well as Premier League Football Hospitality events from 2021 onwards.

International Business Trips

PRSNTS also provide sports away trips, as well as exclusive annual meet Richard Branson, Necker Island trips and cruises etc.

If you are interested in known more please see the Wolf of Wall Street event details via the link or feel free to contact Paul Smolinski on 07920772707 or email: paulsmolinski68@gmail.com.

Business and Sports News from Mike Armstrong – See http://mikearmstrong.me