Tag Archives: AA News

The leading athletic apparel company – Nike – has surpassed many prominent names with its NFT sales this year. According to the latest stats, Dolce & Gabbana, Tiffany, Gucci, and Adidas are reaping millions from NFTs, but it’s Nike that tops the chart. Dune Analytics researcher Noah Levine’s data showed the above businesses leading the NFT wave. Nike’s NFT-related projects have generated over $185 million in revenue, placing itself as the biggest earning brand. The iconic...

CNBC Mad Money host Jim Cramer’s name has become almost synonymous with finance television. But that hasn’t stopped him from giving some regrettable investment advice over the course of years. Despite being a prominent personality in the finance world for decades, his deeply ill-fated predictions have attracted significant ire from the community. On a lighter note, another well-known trader is now inverse trading against him. Crypto trader AIgod is the one behind the cheeky...

Hodlonaut’s request to be put to be placed under judicial management with the Singapore High Court was agreed upon, but the judicial managers – Samtrade Custodian Limited and S.A.M Fintech Pte Ltd – disagreed with the lender’s proposed candidate. By avoiding the forced liquidation of assets, the company had earlier said that undergoing judicial management would provide it with the best chance of recovery instead of filing for suspension. According to the latest announcement,...

Coinbase is being sued by one of its users for failing to keep its customers’ accounts accessible in periods of high market volatility. Acting on behalf of all Coinbase wallet and account holders, plaintiff George Kattula alleges that the exchange “does not properly employ standard practices to keep consumers’ accounts secure”. Unkept Promises at Coinbase? According to the plaintiff’s filing, Coinbase “improperly and unreasonably locks out its consumers from accessing their...

An attacker trying to steal funds from Rainbow Bridge on Saturday was stopped within 31 seconds, losing 5 ETH in the process. Alex Shevchenko – CEO of Aurora Labs – broke down how the protocol mounted its automated defense, without needing an immediate response from the security team.  Another Successful Bridge Defense In a Twitter thread on Monday, Shevchenko said that someone attempted to send a fabricated NEAR block to the Rainbow Bridge smart contract.  Rainbow Bridge is...

SudoRare – a decentralized non-fungible token (NFT) marketplace – is reportedly the latest crypto project that had rug-pulled its customers. The project, established earlier today, shut down its operations six hours after launch after it was rug-pulled for 519 ETH (around $850,000 going by current prices). The blockchain security company – PeckShield – indicated that the wrongdoers behind the protocol have already sent the drained funds to three different wallets, each...

The American investment management company – Invesco – reportedly launched a Metaverse fund, which will invest in large, medium, and small-cap firms that have stretched their operations to the virtual reality. Last year, the investment giant filed documents to launch two crypto-based ETFs in the USA. Several months later, though, it blamed the US SEC for its unfriendly stance on such products and abandoned its plans. Hopping on the Metaverse Bandwagon According to a coverage...

The Ministry of Strategy and Finance of the South Korean government has said that virtual asset airdrops are subject to gift tax as per existing tax laws. Gift tax has to be paid when free virtual assets with economic value are paid out, media reports said. Gift Tax on Airdrops Recently, the South Korean finance ministry was asked by a tax law interpretation inquiry to provide its interpretation of whether an airdrop is subject to gift tax or not. In its response, the...

BendDAO – a lending protocol for non-fungible tokens (NFTs) – is the latest project to have been hit with an insolvency crisis. The five-month-old platform has reportedly run out of ETH over the weekend. According to the researcher, NFTStatistics.eth, BendDAO is just left with 12.5 WETH in the contract. The lenders of BendDAO have landed in a sketchy situation. Its co-founder said they have come up with a proposal to improve the protocol, hoping to make out of the crisis....

Crypto security companies are raking in a fortune despite the bear market that has bloodied firms across the rest of the industry. Zeth Couceiro – founder of crypto recruitment company Plexus Resource Solutions – recently told Bloomberg that salaries for experienced blockchain auditors can run as high as $400,000 per year.  Overwhelming Demand for Auditors According to Couceiro, the typical blockchain auditor currently gets paid about 20% more than Solidity-focused...