COIN BUREAU NEWSFLASH! – (25/08/22) Here are some of today’s m | Coin Bureau Insider
COIN BUREAU NEWSFLASH! – (25/08/22)
Here are some of today’s most important headlines:
More Than $100M Worth of NFTs stolen Since 2021: Elliptic Report
Blockchain analytics firm Elliptic has released a new report which sheds light on non-fungible token (NFT) theft, scams and other illegal activity between July 2021 and July 2022.
According to the report, roughly $100.6 million worth of NFTs were stolen during that time period. Out of which, $24 million in NFTs were stolen through scams in May 2022 alone, with July 2022 being the highest month on record for the number of NFTs stolen at 4,600. The report also states that individuals had laundered more than $8 million in illicit funds through NFT platforms since 2017.
https://cointelegraph.com/news/more-than-100m-worth-of-nfts-stolen-since-2021-elliptic
Tether States It Will Not Freeze Sanctioned Tornado Cash Addresses
In a statement released by Tether on Wednesday, the company reiterated its decision not to bar Tornado Cash addresses, highlighting that it has not yet received any instruction from U.S. authorities or law enforcement to do so. The company described the ‘unilateral freezing of secondary market addresses’ without specific instructions as a highly disruptive and reckless move that it does not wish to undertake.
The statement read,
“Even if Tether recognises suspicious activities on such an address, completing a freeze without the verified instruction of law enforcement and other government agencies might interfere with ongoing and sophisticated law enforcement investigations,"
https://www.wsj.com/livecoverage/stock-market-news-today-08-24-2022/card/tether-hasn-t-blocked-accounts-associated-with-sanctioned-crypto-mixer-ypuVNTJdtlVbDPonvvLS
Mars Signs Licensing Deal with Universal Music Group Label to Release NFT-Inspired Candy
According to an announcement, the candy brand Mars has signed a licensing deal with the label 10:22PM of Universal Music Group (UMG) to produce limited-edition M&Ms based on Kingship, a virtual band made up of the Bored Ape Yacht Club and Mutant Ape Yacht Club avatars.
Mars Wrigley Global Vice President Jane Hwang, stated,
"Consumers' expectations for what they want from their favourite brands [have] shifted, and at Mars, we know we need to be more innovative than ever with such a culturally famous brand like M&M's."
As part of the deal, Mars will release just 10,000 total packages of the branded M&M’s chocolate candies, which will feature images of the Bored Apes and Kingship iconography on them.
https://decrypt.co/108142/bored-apes-melt-in-your-mouth-mms-mars-nft-candy
China’s Ant Group Partners with Malaysian Investment Bank Kenanga to Launch ‘SuperApp’
Kenanga Investment Bank Berhad, one of the largest private investment banks in Malaysia, has partnered with China’s tech giant Ant Group to launch a wealth management “SuperApp”.
The "SuperApp" will offer a variety of financial services, including cryptocurrency trading, foreign exchange, digital investment management, and stock trading. According to the terms of the deal, mPaaS, a mobile development platform originating from AliPay App, would be made available to Kenanga by Ant's digital technology division.
Datuk Chay Wai Leong, group managing director at Kenanga, stated,
“With almost 50 years of retail experience serving over half a million customers, we believe the Kenanga Wealth SuperApp will leapfrog our growth to the next level,”
https://www.theblock.co/post/165456/chinas-ant-group-partners-with-malaysian-investment-bank-kenanga-to-launch-superapp
Coinbase Introduces ‘cbETH’ Wrapped Staked ETH Asset Ahead of The Merge
Coinbase is reportedly launching its own liquid staking token, called cbETH, which allows users to use their staked Ether (ETH) while earning rewards on the exchange. The tokens are expected to be available for trading on Aug. 25 “if liquidity conditions are met.” Each cbETH token will represent a claim on the staked ETH as well as the interest accrued until the time of redemption.
