COIN BUREAU NEWSFLASH! – (10/05/23) Here are some of today’s m | Coin Bureau Insider
COIN BUREAU NEWSFLASH! – (10/05/23)
Here are some of today’s most important headlines:
NFT Collection Pudgy Penguins Raises $9 Million
Ethereum-based NFT collection Pudgy Penguins has reportedly raised $9 million in a seed funding round. The round was led by early-stage investment firm 1kx and saw participation from Big Brain Holdings, Kronos Research, Old Fashion Research, CRIT Ventures, and the founders of LayerZero Labs.
Notably, the funding round comes over a year after the previous founders were voted out for allegedly draining treasury funds and failing to meet community goals. The brand, now owned by serial entrepreneur Luca Schnetzler, will reportedly use the raised funds to scale its intellectual property and team.
https://decrypt.co/139470/pudgy-penguins-bucked-nft-crash-now-raised-9-million
Microsoft, Goldman Sachs, Others Partner in New Blockchain Network
Fintech firm ‘Digital Asset’ is reportedly launching a privacy-enabled blockchain in collaboration with several other partners including BNP Paribas, Cboe Global Markets, Paxos, Microsoft, Goldman Sachs, and Deloitte.
The blockchain, reportedly called the ‘Canton Network’, is built on Digital Asset’s smart contract language Daml and is expected to create an interoperable system where “assets, data, and cash” can synchronise across linked applications.
Cathy Clay, executive vice president of Cboe Global Market, stated,
“The tokenisation of real-world assets may offer an unprecedented opportunity to create new market infrastructure and drive efficiency in the trading of products across the globe.”
https://cointelegraph.com/news/microsoft-goldman-sachs-others-partner-in-new-blockchain-network
Marathon Teams Up with Abu Dhabi's Zero Two for Middle East's First Large-Scale Liquid Cooled Bitcoin Mining
Bitcoin miner Marathon Digital has reportedly formed a joint venture (JV) with Abu Dhabi's sovereign wealth fund-backed digital assets infrastructure firm Zero Two to create the region’s first large-scale immersion bitcoin mining operation.
The new project, named the “Abu Dhabi Global Markets JV Entity”, will first develop two mining sites with a combined mining power capacity of 250 megawatts (MW) in Mina Zayed and Masdar City of the United Arab Emirates. The sites will reportedly be powered by excess energy from Abu Dhabi’s power grid, increasing its base load and sustainability. According to reports, the necessary mining equipment and infrastructure have already been ordered and construction is currently underway.
https://www.coindesk.com/business/2023/05/09/marathon-digital-in-jv-for-immersion-cooling-bitcoin-mining-in-abu-dhabi
Ex-Coinbase Manager Gets 2 Years for Insider Trading
Ishan Wahi, the former Coinbase manager accused of insider trading, has reportedly been convicted and sentenced to two years in federal prison. US District Judge Loretta Preska pointed to “a massive abuse of Mr. Wahi’s employer’s trust” stating that it “was not just a one-time event” when handing him sentence on Tuesday in Manhattan. Wahi’s prison term is to be followed by two years of supervised release and a possible deportation to India.
https://www.bloomberg.com/news/articles/2023-05-09/ex-coinbase-manager-ishan-wahi-gets-2-years-for-insider-trading
Shaq Cries Foul: FTX Court Papers 'Tossed' At Car Mean He Was Never Served, Calls For Dismissal
In a May 8 court filing, NBA star Shaquille O’Neal’s lawyers asked the court to quash and dismiss the claims against Mr. O’Neal on the grounds that the two process servers inadequately delivered legal documents. Specifically, the lawyers claim two process servers “tossed” papers for a legal complaint in front of O’Neal’s moving car and that O’Neal did not stop to pick up the papers but left them in the road.
The filing reads,
“This purported ‘service’ is inadequate under Rule 4 of the Federal Rules of Civil Procedure and Georgia law. It should be quashed, and the claims against Mr. O’Neal dismissed.”
https://www.theblock.co/post/229987/shaquille-never-served-ftx-lawsuit
