NEW YORK—The creator of a marketplace for National Basketball Association Top Shot non-fungible tokens must face a lawsuit claiming that the tokens are securities, a U.S. judge ruled on Wednesday. U.S. District Judge Victor Marrero in Manhattan rejected Dapper Labs Inc.’s bid to dismiss a proposed class action by purchasers of NBA Top Shot Moments,…
US Judge Permits Lawsuit Claiming NBA Top Shot NFTs Are Securities
Crypto’s Comeuppance
July 3, 2022
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Commentary NEW YORK—Bitcoin and associated cryptocurrencies have suffered a precipitous decline from their highs back in November when it was over $60,000. “Bitcoin to the Moon,” a frequent refrain of internet bitcoin advocates less than a year ago, now sounds like the rant of an End of Days prophet traipsing Madison Avenue in a sandwich…
Bill Gates Says Crypto, NFTs ‘Based on Greater Fool Theory,’ Prefers Tangible Assets
Microsoft Corporation co-founder Bill Gates revived his stance on cryptocurrencies or non-fungible tokens (NFTs) on Tuesday, further clarifying prior remarks on why he doesn’t own any form of digital currencies. Speaking at a TechCrunch talk on climate change on June 14, the business magnate described the asset class as 100 percent “based on the greater…
Beeple’s Twitter Hacked, Scammers Net $430,000 in Ethereum and NFTs
Popular digital artist Beeple saw his Twitter Inc account hacked over the weekend, resulting in a phishing incident that netted scammers over $430,000 in stolen Ethereum and NFTs. What Happened MetaMask security analyst Harry Denley first raised the alarm on Sunday, telling users the link in Beeple’s Twitter bio redirected to a phishing website that would automatically…
Crypto Enthusiasts Raising $4 Billion to Buy NFL Team Using Autonomous Organization
February 21, 2022
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A group of cryptocurrency enthusiasts is aiming to raise $4 billion to buy NFL team the Denver Broncos through a Decentralized Autonomous Organization (DAO), or a group of individuals who act without a leader and rely on crypto technologies to track and validate its inner workings. DAOs use smart contracts and are built on blockchain…
Internal Revenue Service Seeing ‘Mountains of Fraud’ in Cryptocurrencies, NFTs: Special Agent
A special agent from the Internal Revenue Service has warned that non-fungible tokens (NFTs) and cryptocurrencies are highly susceptible to fraud and manipulation as they grow in popularity. Speaking at a virtual event held on Tuesday by the USC Gould School of Law, Ryan Korner from the IRS Criminal Investigation’s Los Angeles field, said that both…
Dogecoin Co-Creator Billy Markus on the Negatives of Cryptocurrency, NFTs, and Elon Musk
Dogecoin co-creator Billy Markus recently joined Benzinga’s “Moon or Bust” to share his story of creating Dogecoin, how he’s involved today and what he thinks of Elon Musk. Early Days Markus got into cryptocurrency due to Bitcoin but quickly pivoted to other easier-to-mine coins like Litecoin and Litecoin clones. He said it took a long time to mine a…
Ferrari Partners With Blockchain Company Velas in Multi-Year Deal
Ferrari has signed a multi-year agreement with Velas Network, a Swiss company involved in blockchain technologies and cryptocurrencies, to create digital content for the iconic Italian luxury sports car manufacturer. Based on the deal, Velas Network will be a premium partner of the automaker starting next season. Velas will be the title sponsor of the…
NFT Picked as ‘Word of the Year’ by Collins Dictionary
Collins Dictionary announced Wednesday that “NFT” has been chosen as its Word of the Year in consideration of the fact that NFT’s usage has increased 11,000 percent in 2021, while digital assets like cryptocurrencies keep on gaining mainstream acceptance. “It’s unusual for an abbreviation to experience such a meteoric rise in usage, but the data…
Quentin Tarantino Auctioning Several Uncut Scenes From ‘Pulp Fiction’ as NFTs
November 3, 2021
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Award-winning director Quentin Tarantino will be auctioning several uncut scenes from “Pulp Fiction” as secret non-fungible tokens, or “NFTs,” he announced on Tuesday. The NFTs include original handwritten scripts from the film and exclusive audio commentary from Tarantino himself, and feature “never-before-told secrets,” according to a statement from the Secret Network. “I’m excited to be presenting these…
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