SEC Starts to Battle Unruly Crypto Hedge Funds 1869

This week, on the same day, two United States regulating bodies — the Financial Industry Regulatory Authority (FINRA) and its ruling organization the Securities and Exchange Commission (SEC) — reported filing objections against non-compliant crypto players who made some false statements regarding their businesses.

While the SEC barely needs any introduction for those who follow the crypto industry, FINRA might seem unfamiliar. FINRA is a private, non-federal agency, although it is overseen by the SEC. It regulates one specific part of the securities industry in the U.S.: brokerage firms doing business with the public.

What makes the news particularly interesting is that both agencies seemingly extended their purviews, as FINRA targeted a questionable crypto security and the SEC turned its attention to funds managing virtual currencies. And as the icing on the cake, a New York federal judge ruled that U.S. securities laws were applicable for dealing with crypto fraud allegations — all on the same day, Sept. 11.

FINRA has filed a complaint against a Massachusetts resident Timothy Tilton Ayre. The watchdog charged him with securities fraud and the illegal distribution of an unregistered cryptocurrency called HempCoin (HMP) (not to be confused with the company of the same name that trades THC tokens).

Here’s brief background: In April 2016, Ayre started advertising HMP as “the first minable coin backed by marketable securities” and a security backed by common stock, arguing that every 10 coins represented one share of his public company Rocky Mountain Ayre Inc. (RMTN).

Ayre’s HempCoins premiered on exchanges C-Cex and Yobit. More than than 81 million HMP coins were mined in late 2017 and traded on the aforementioned platforms. Currently, HMP is not listed at any exchange and its market cap totals a modest $104,463, according to CoinMarketCap. Ayre’s cryptocurrency has also seemingly erased all of its social media presence, while its former website reroutes to some unrelated content.

Thus, in the recent complaint, FINRA states that Ayre’s claims were “fraudulent, positive statements about RMTN’s business and finances.” As Ayre never attempted to register the coin, FINRA chose to charge the RMTN president with the unlawful distribution of an unregistered security.

In the press release, FINRA reminded that anyone named in its complaint can file a response and request a hearing. If the agency confirms there were violations, Ayre might face a fine, censure, suspension or be barred from the securities industry altogether.

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Magic Eden Launches Open Creator Protocol to Enforce Royalties for New Solana NFT Collections 1422

Today, Magic Eden (“The Company”), the leading cross-chain NFT platform, launched the Open Creator Protocol in response to recent royalty enforcement changes in the NFT landscape. The Open Creator Protocol (OCP) is an open source tool built on top of Solana’s SPL managed-token standard. Creators launching new collections who opt in to using the protocol will be able to protect their royalties and enjoy additional features including dynamic royalties and customizable token transferability.

“The Solana community has been waiting for solutions to NFT royalties,” Jack Lu, CEO and Co-Founder of Magic Eden commented. “We have been in active conversations with multiple ecosystem partners to identify solutions for creators in a timely manner. Our intention with Open Creator Protocol is to immediately support royalties for creators launching new collections, while continuing to coordinate with ecosystem partners for more solutions.”

The Open Creator Protocol, which will impact creators launching new collections, will be available starting December 2. Magic Eden will enforce royalties on all collections who adopt the protocol and allow creators to ban marketplaces that have not enforced royalties on their collection. For new collections that don’t adopt OCP, royalties will remain optional on Magic Eden. At the same time, Magic Eden will also welcome the inclusion of other future royalty enforcement protocols that emerge and gain market adoption.

Open Creator Protocol includes additional features beyond royalty enforcement, including dynamic royalties and customizable token transferability. The dynamic royalties feature will specify a relationship between an NFT’s sale price and royalty amount via a linear price curve, potentially reducing the nominal value of royalties for buyers who pay a higher price for the NFT. Customizable transferability can include many use cases, such as the collection’s tokens remaining untradable before mint closes, or limitations on tradability by time, total number of trades, or metadata text. This can create fun ways for creators to gamify the rules of their own collection’s trading behavior. Magic Eden is also unveiling bulk transfers on the platform so collectors can move their NFTs freely for collections using the Open Creator Protocol.

Upon launch, Magic Eden will be hosting “Magic Mint”, a free mint for users to pilot the Open Creator Protocol and its many features, including protected royalties, dynamic royalties, and customized transferability. The mint will supply a couple thousand gift boxes, some of which will contain prizes including a free MacBook Air laptop, whitelist access to the Tomorrowland’s December mint (The Symbol of Love and Unity), access to Genopet’s game, and free NFTs from Degen Trash Panda and Liberty Square. The collection will have enforced royalties per the Open Creator Protocol.

About Magic Eden

Magic Eden is the leading cross-chain NFT platform driving the next billion users to Web3. Led by former crypto, tech, and hospitality leaders, Magic Eden is building a user-friendly platform powered by market-leading minting and trading solutions. Magic Eden brings dynamic cultural moments onto the blockchain, empowering users across thousands of digital communities to create, discover and collect unique NFTs. For more information, please visit  www.magiceden.io.

KEY3․id Launches Bored Ape Domain ․bayc, the First Digital Identity Bound to Blue Chip NFTs 2140

Today at 20:00 (UTC+8) KEY3.id, a distributed, open, and extensible naming system launched the first Blue Chip NFT bound decentralized identifier (DID) .bayc. Bored Ape (BAYC) NFT holders now claim the corresponding numbered DID, e.g. 0000.bayc, for free at KEY3.id. The .bayc DID is bound one-to-one to the BAYC NFT, and there are only 10,000 DIDs available to claim.

According to the KEY3.id, the .bayc DID is the first ABT (Asset Bound Token) tied to a Blue Chip NFT and is only available to BAYC NFT holders and is not transferable. KEY3.id ‘s CEO Kory Pak tweeted that .bayc may usher in a new stage of “Asset as your DID”.

The launch of .bayc immediately generated mass buzz and followers in the BAYC community, including some of Web3’s most famous influencers. Game Space CEO Michael Cameron minted 6669.bayc and changed his Twitter name into “Michael Cameron 6669.bayc”; former Huobi Global CEO 0xLivio minted 2883. bayc, and also changed his Twitter name accordingly.

Michael Cameron said: “.bayc combines the uniqueness of short digit domains and the numeric features of Bored Ape and only BAYC NFT holders can claim it, which can effectively reflect the assets of DID holders. .bayc is expected soon to become the most sought-after DID , and may even drive up the price of BAYC NFT, especially favorable to the ones who possess great numbers. “

Several BAYC NFT holders said that the most valuable aspect of .bayc is the Asset Bound Token feature. It ensures its reliability, follows the NFT and cannot be traded separately, and once the NFT has been transferred or traded, its corresponding DID will also be destroyed.

KEY3.id CEO Kory Pak continued that KEY3.id will soon partner up with dozens of Wallets, DeFi, GameFi, SocialFi, dApps and other projects, including Bitkeep Wallet and KuCoin Wallet to collaborate on the use of .bayc such as replacing the long public address into easy to read and memorable DID that can be linked to your wallet to send and receive funds,transfer tokens or NFTs, use as an ID, social networking, GameFi and other Web3 scenarios.

In addition to .bayc, KEY3.id will soon support the DIDs of 20 other Blue Chip NFT binding domain names such as .punk, .doodle and .mfer etc. According to its official website, a community voting campaign will be opened in early December and the NFT project with the highest number of votes that week will be available to mint for its corresponding domain name.

About KEY3.id

The KEY3.id is a distributed, open, and extensible naming system based on the Ethereum blockchain. .did is the 1st DID launched by KEY3.id, aimed to provide users’ free with decentralized identity in Web3 with the features of Free to claim, Free to renew, Free forever. KEY3.id also supports the DIDs of 20 other Blue Chip NFT binding domain names such as .punk, .doodle and .mfer etc.

Twitter: https://bit.ly/tuiwly
Discord: https://bit.ly/ggwly
Medium: https://bit.ly/zhongwly
Website: https://KEY3.id

WeSendit 3.0: The Web3 data storage revolution from Switzerland 2503

Swiss data transfer company is “the first gateway to the world of decentralized networks.” Its new platform, WeSendit 3.0, supported by the new WeSendit token (WSI), will harness the power of the blockchain and offer users the “safest, easiest and most reliable data transfer ever.” Here is everything you need to know about a project that has been gaining momentum recently.

Who is WeSendit?

With more than 3.5 million users from 150 countries and over 10 years of experience, WeSendit is an established player in the world of file transfer and storage. The company is based in Zug, the “Swiss Crypto Valley.” Clients include global players such as Meta (Facebook), Nike, Disney, DreamWorks and Red Bull.

Since its foundation, 2.85 billion data records have been processed through the company’s platform. WeSendit has learned what users expect from a first-class file transfer and storage service. The company is now using this knowledge to develop WeSendit 3.0 and make the seminal leap into the world of Web3.

The founder and CEO and his team have been working on blockchain-related projects for years. Herbst has formed a talented international group of experienced crypto experts, developers, economists and marketing specialists.

Which solution does WeSendit offer its users?

The company is rooted in the traditional Swiss values of privacy, reliability and stability and seeks to translate these values into the new world of Web3.

With the importance of data transfer growing year after year, WeSendit believes that it is time for a solution that is not just for experts, but for the general public. Its goal is to become the world’s first and user-friendliest gateway to the world of decentralized file transfer and storage solutions.

How does WeSendit plan to achieve its goals?

As a Web3 aggregator, WeSendit will provide interfaces that show on-chain data and allow users to interact with smart contracts from multiple platforms, such as Sia, Filecoin, Storj or Skynet.

The data transfer pioneers can also count on the support of Crypto Valley Switzerland and the Swiss Chamber of Commerce.

Two elements build the core of WeSendit’s move into Web3: WeSendit 3.0 and the WSI token.

WeSendit 3.0 — The platform

Core elements of WeSendit 3.0 include:

  • Data security: Through state-of-the-art encryption;
  • Geo-redundant storage: Data storage across the world;
  • Privacy protection: Anonymous data checks through a blockchain consortium network and no third-party access;
  • Simple data management: Easier overview, management and collaboration with others;
  • Backup and restore: No more single points of failure.

Further highlights include:

  • Pay as you go: Users only use and pay for the services they really need;
  • Branding channel: Companies can present their data transfer and storage in their own corporate design;
  • File management: Easier management and archiving of files;
  • Paid downloads: Users can offer paid downloads and sell their products;
  • Ads manager: Easily reach potential customers with customized ads on WeSendit.

WeSendit 3.0 will follow a hybrid approach with a modular infrastructure. The various features will form a unified interface based on dynamic technical building blocks that are perfectly suited for rapid scaling.

WSI — The WeSendit token

The WeSendit utility token (WSI) is based on the BNB Smart Chain (BEP-20). It is the central element of WeSendit 3.0 and offers a variety of functions and benefits:

  • Use of digital products and services within the WeSendit 3.0 ecosystem;
  • Lower and simplified fee structures in comparison to traditional mechanisms;
  • Activity rewards for using the new services;
  • Referral program incentives for users;
  • Generate passive income through staking;
  • Trade and swap with other crypto assets.

What makes WeSendit’s solution so promising?

WeSendit’s ambitious Web3 project comes at a time in which data transfer and storage are becoming more important than ever.

The German statistical company Statista expects global file-sharing storage consumption to grow from 175,000 to 700,000 terabytes within just a few years. Storage consumption per user is also expected to grow significantly.

The company will position itself as a combined managed file transfer and sharing/application specialist in decentralized data processing solutions.

WeSendit 3.0 will fill a gap in the market at a time in which more and more organizations are willing to implement alternative data storage solutions. These factors, in combination with WeSendit’s potential for rapid scaling, could enable the company to secure a disproportionate market share in the near future.

Outlook: What’s next for WeSendit?

WeSendit is dedicated to developing a solution that will help users benefit from the full potential of decentralized networks. While its developers are working on the groundbreaking features of the new platform, the team is preparing for a public listing on PancakeSwap on Dec. 1, 2022, at 8 pm CET.

Visit wesendit.io for more information on the project.

Plug and Play to Launch Crypto and Digital Assets Innovation Platform with Visa, AllianceBlock, The INX Digital Company, IGT, and Franklin Templeton 2662

Global innovation platform, Plug and Play, together with founding partners Visa, AllianceBlock, The INX Digital Company, IGT, and Franklin Templeton, has announced the launch of their new Crypto and Digital Assets program in Silicon Valley. The program aims to connect international startups with the founding partners to pilot the startups’ technologies and drive the future of Crypto and Digital Assets as world-class leaders.

“Plug and Play is excited to partner with Visa, AllianceBlock, The INX Digital Company, IGT, and Franklin Templeton to launch our new program and multiply our reach and impact in the crypto space. We look forward to accelerating enterprise-level adoption and bridging the gap between Web2 and Web3,” said Maximillian Jungreis, Head of Crypto and Digital Assets at Plug and Play.

“At Visa, we believe partnerships can unlock a deeper understanding of the emerging use cases in the payments ecosystem,” said Dan Roesbery, Vice President, Global Fintech Partnerships at Visa. “We’re excited to partner with Plug and Play to innovate with fintech and crypto platforms at all stages of the startup lifecycle on new money movement experiences.”

Headquartered in Sunnyvale, Calif., Plug and Play connects startups and leading corporations worldwide through industry-specific accelerator programs. The founding partners of the Crypto and Digital Assets program will access a global network of startups developing new digital technologies and innovative tools. In addition to our partners’ specific interests, Plug and Play’s new Crypto and Digital Assets vertical will have four broader focus areas:

  • Stablecoin Adoption: Stablecoins — cryptocurrencies pegged to an underlying financial asset — have emerged as a leading crypto use-case by providing global access to the world’s strongest fiat currencies. Businesses adopting stablecoins get all the benefits of crypto without the volatility: lower fees, secure transactions, and instant cross-border payments.
  • Decentralized Finance: By making units of value — stocks, bonds, real estate, currencies, etc. — interoperable, programmable, and composable on blockchains, capital markets will become more efficient and accessible to everyone on the planet.
  • Crypto Economics: Tokens create opportunities for innovation in capital formation and human coordination that extend beyond the digital world and into the physical. Crypto-economic systems are enhancing access to core commodities like file storage and decentralized wireless — and the business benefits are significant.
  • Enterprise Blockchain: Enterprise blockchains are networks designed for large companies and organizations. They retain the core benefits of blockchains, such as efficiency and immutability, but tweak the underlying permissions to help businesses with data safety, faster transactions, and better supply chain management.

“AllianceBlock is excited about our partnership with Plug and Play Crypto and Digital Assets. Our ecosystem benefits from their broad network of innovative startups, industry pioneers, and thought leaders, as well as the value that we will provide to the Plug and Play ecosystem as experts in the decentralized space and the infrastructure for builders and developers to build on top of. We share the vision of a participatory economy, one that is fair, transparent, sustainable, and inclusive, and together we are working tirelessly to make that a reality.”

Blockchain technology and crypto economics will transform how we do business on the internet and across multiple industries. At Plug and Play Crypto and Digital Assets, we will accelerate enterprise-level adoption and bridge the gap between Web2 and Web3.

“As we continue our mission to increase access to the wealth of opportunities in the digital economy for both companies and investors, we are thrilled to be a founding member of Plug and Play’s Crypto and Digital Assets program in Silicon Valley. Not only will this unique partnership offer deeper connections on the West Coast and Silicon Valley, but it will also allow us to put our leadership and expertise to work as we advise companies on the benefits of participating in the rapidly growing ecosystem of blockchain, tokenization, and cryptocurrency,” said Douglas Borthwick, Chief Business Officer at INX. “Together with Visa, AllianceBlock, IGT, and Franklin Templeton, we look forward to working with a variety of companies – from startups to established names – about the digital future and how they can leverage opportunities now to garner long-term growth.”

“We believe venture capital is the optimal strategy to invest in the development and growth of Web3 businesses. In our view, the Crypto and Digital Assets team at Plug and Play continues to innovate and identify some of the most exciting Blockchain opportunities in the world,” said Kevin Farrelly, VP/Director of Digital Asset Management.

“As a global leader in gaming, IGT is excited to partner with Plug and Play to accelerate our innovation through a compelling collaborative environment of established industry leaders and technology startups from various sectors,” said Fabio Celadon, IGT Executive Vice President of Strategy & Corporate Development. “IGT stands at the forefront of cashless gaming technology, and working with Plug and Play can further advance our capacities and development potential in the payments space.”

About Plug and Play

Plug and Play is the leading innovation platform connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we’re present in 50+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries. We’ve invested in hundreds of successful companies, including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/

Swaps Updates Take Payment Processing and UX to Badass Level 3251

Swaps is pleased to announce that we have updated our platform. As a crypto and fiat payment processing company, we prioritize providing our partners with the best crypto on-ramp, off-ramp, and checkout services. Our new update includes better UI and UX, 31 blockchains and 1000 tokens available, new payment methods, quick API integration, and many more features.

Since 2019, Swaps has been committed to helping businesses to access Web3 by providing crypto on-ramp solutions, allowing them to offer Bitcoin, Ethereum, Tether and other coins. Now this update brings new, more exciting features.

We’ve just finished integrating Stripe and TrueLayer, the world’s top-rank payment and open banking providers. We added American Express, Google Pay, instant bank payments and many more payment methods to existing Visa, Mastercard and Apple Pay options. These are available for our partners to bring quicker and more seamless payments to their customers—a few moments for each transaction.

Swaps payment processing service also allows e-commerce companies to accept crypto as a payment method, which opens the doors to more customers, giving the crypto-friendly community an opportunity to buy goods and services with digital coins.

Backed by leading security, compliance and fraud prevention partners, Swaps is now open for KYC sharing, which was one of the top requests to the company for a long time. This gives our partners more confidence and easier onboarding for users.

Swaps CEO, Georgios Kalmpazidis, stated. “One of our company’s main priorities is fighting against chargeback and fraud and making our merchants’ lives easier. We make this battle even more efficient with the new update.”

In this recent upgrade, we also improved the partner dashboard, making accessing and monitoring customer data and transactions quick and transparent. We also introduced the Swaps business wallet for partners and flexible payout options, including cryptocurrency and bank transfers.

Our versatile and single API integration makes this entire ecosystem and features available for any online business to scale up and utilize the power of digital assets. We handle AML/KYC verification, anti-fraud, payment methods, and liquidity, and we allow operating globally in more than 180 countries.

Swaps is a fully compliant and regulated European crypto company. We combine industry-leading security with a blazingly fast and incredibly easy-to-use platform to bring buying and selling crypto to everyone, beginner or expert, company or individual.

Find Satoshi Lab, Creators Behind STEPN, Launch NFT Marketplace and Launchpad, MOOAR 3925

Find Satoshi Lab (“FSL”), a Web3 gaming and development studio founded in 2021 with a mission to bridge Web2 to Web3, today announced the launch of the MOOAR, a multi-chain NFT marketplace. This is the third project to launch within the Find Satoshi Lab ecosystem after STEPN, a lifestyle fitness app, and DOOAR, a decentralized exchange (DEX).

FSL is launching MOOAR to empower traders and creators through a unique membership model with zero platform fees and no optional royalties. The marketplace will enable community members to create and launch their own collections on MOOAR’s launchpad, which is run like a community-driven hackathon. MOOAR is a pivotal step to ensure the delivery of FSL’s goals and vision through a community-centric solution – a marketplace to host transactions that ultimately support the growth and development of FSL.

The creation of a marketplace establishes FSL’s ecosystem as self-sustaining where STEPN, DOOAR, and MOOAR work in collaboration to actively support each other without the need for members to pay additional service fees outside of the initial platform membership fees. FSL is also now able to fully empower the community of creators, enabling them to bring the highest quality content to MOOAR through its launchpad, while also respecting rights to royalty fees. MOOAR also brings additional utility to the ecosystem’s native GMT token as token holders can use it for voting privileges under MOOAR’s launchpad. The self-sustaining design benefits all members of the FSL ecosystem and ensures that they have access to a best-in-class experience.

Yawn Rong, Co-Founder of Find Satoshi Lab, commented on the news, “Find Satoshi Lab is excited to expand our ecosystem by leveraging MOOAR and introducing externalities, thus adding more utility to GMT. With the creation of the MOOAR marketplace, FSL is now a fully self-sustaining ecosystem, removing the need for the community to use external platforms, simplifying the experience, and better supporting the community. FSL believes that creators deserve royalties, which we have decided to utilize royalties for MOOAR. We feel the zero service fee is only sustainable through a membership model, and for FSL and the greater industry to sustain itself, we must value our creators. We are looking forward to further our mission to educate and introduce millions of new Web2 users to Web3 and the world of NFTs, inspire a healthy lifestyle by gamifying exercise, and combat climate change.”

In August of 2021, Find Satoshi Lab launched its first project, STEPN, a Web3 lifestyle app that incentivises users to exercise by offering token rewards, which quickly became the textbook example of an effective tokenised gaming model. To further develop the ecosystem, FSL launched DOOAR, a multi-chain decentralised exchange (DEX), in June 2022. Adding a DEX into the ecosystem offered the community a native, multi-chain, non-custodial platform to facilitate trading. Now, with the addition of MOOAR, FSL unites all parts of its users’ journey–from purchasing a Sneaker NFT on STEPN, to creating and trading unique NFT collections on MOOAR, as well as swapping tokens via DOOAR. FSL is constantly building to better support its dedicated community and is set to further announce several developments in the coming months.

About Find Satoshi Lab

Founded in 2021, Find Satoshi Lab (FSL) is a gaming and development studio connecting players to Web3. FSL’s mission is to educate and introduce individuals to Web3, while encouraging healthy living, and combating climate change. FSL brands include STEPN, MOOAR, and DOOAR.

For additional information on Find Satoshi Lab, visit: http://findsatoshilab.com/

About MOOAR

MOOAR is an integral part of the Find Satoshi Lab (FSL) ecosystem that provides both a primary and secondary marketplace for NFT transactions, protecting the ecosystem from unwanted third-party transaction fees. Profits from MOOAR remain within the FSL ecosystem and are leveraged to facilitate its growth and development. MOOAR is currently available on Solana and Ethereum.

For additional information on MOOAR, visit: http://mooar.com/