COIN BUREAU NEWSFLASH! – (04/10/22) Here are some of today’s m | Coin Bureau Insider
COIN BUREAU NEWSFLASH! – (04/10/22)
Here are some of today’s most important headlines:
Kim Kardashian to Pay SEC $1.26 Million to Settle EthereumMax Charge
Reality TV star Kim Kardashian has reportedly agreed to pay $1.26 million in penalties to the U.S. Securities and Exchange Commission (SEC) for her involvement in the promotion of a cryptocurrency scheme called EthereumMax (EMAX).
The SEC had filed a case against Kardashian for failing to disclose that she was paid to promote the EthereumMax crypto scheme. She had reportedly received a payment of $250,000 for publishing a post to her Instagram account about EMAX tokens, which included a link to the EtheruemMax website, with instructions on how to buy EMAX.
SEC Chairman Gary Gensler tweeted,
“This case is a reminder that, when celebrities/influencers endorse investment opportunities, including crypto-asset securities, it doesn’t mean those investment products are right for all investors [….] You have to disclose not only that you’re getting paid, but the amount, nature of it. This was really to protect the investing public when someone is touting a stock, whether that is a celebrity, an influencer or the like.”
https://www.wsj.com/articles/kim-kardashian-paying-1-26-million-to-settle-sec-investigation-into-role-in-crypto-deal-11664798793
Wall Street-Backed Bitcoin Firm NYDIG Replaces CEO, President
According to an announcement from Bitcoin investment firm NYDIG, company executives Tejas Shah and Nate Conrad are being promoted to replace current CEO Robert Gutmann and President Yan Zhao respectively.
Shah and Conrad are both former employees of Goldman Sachs Group Inc. and most recently served as NYDIG's global heads of institutional finance and payments, respectively. According to the company, they will now concentrate on expanding the operations that cater to North American miners and payment partners.
https://www.bloomberg.com/news/articles/2022-10-03/wall-street-backed-bitcoin-firm-nydig-replaces-ceo-president
Binance Signs MoU with Kazakhstan and Plans Regional Hub
Crypto exchange giant Binance has reportedly signed a memorandum of understanding (MoU) with Kazakhstan’s Financial Monitoring Agency to formalise their shared interest in developing the digital asset market in the country.
The MoU expresses a commitment to working together to promote the circulation of digital assets and data while reducing its use in illegal trading. The developments in Kazakhstan are a part of Binance's larger international law enforcement training program to connect national and international financial agencies in the fight against cyber and financial crimes globally.
https://www.theblock.co/post/174399/binance-signs-agreement-with-kazakhstan-and-plans-regional-hub
Ethereum Subreddit Sparks Discussion on Staking Difficulty
According to this report, an Ethereum subreddit has sparked discussions on the complexity of staking operations on Ethereum.
Some members of the community complained of the staking process being too difficult, with one user stating that it took them an entire weekend just to get things up and running. They added that it was not suitable for “regular people” and for those with “unforgiving” schedules.
They stated,
“The Ethereum community likes to sugarcoat usability but it’s healthier to just admit: this is not for everyone yet.”
However, another user quickly pointed out that things will likely become more user-friendly as time goes on. They also argued that staking is not intended to be an easy thing that everyone can do.
They stated,
“People keep treating staking as getting free cash when it isn’t. You are effectively being paid to do a job and this takes a certain amount of knowledge and effort.”
https://cointelegraph.com/news/ether-staking-is-too-difficult-community-members-claim
NFT Artist Beeple Warns Discord Members of Wallet Drainer Exploit
