- Flamingo Casino Club, which served fraudulent NFTs to its users, was asked to cease operations by five states in the United States.
- Cryptocurrency exchange Talos has become a unicorn with $1.25 billion after raising $105 million, it said Tuesday.
- Bitcoin Miner HIVE Blockchain Institutes Equity Consolidation, Aims To Increase Institutional Visibility
- IOSCO Predicts Crypto Sector Could Gain Regulators Within Next Year
- Chile Will Think More Before Issuing Digital Peso, Central Bank Says
Virtual Casinos Parade Metaverse-Linked NFTs, Asked To Stop Operating In Five States
New Jersey, Kentucky, Wisconsin, Alabama, and Texas allege that Flamingo Casino Club is committing fraud by offering NFTs linked to Metaverse Casino.In practice, each state regulator issued Wednesday’s emergency order requires platforms to stop offering fraudulent and violating NFTs.
the flamingo casino “Unauthorized solicitation of NFT Use influencers to drive sales on your platform. The platform appears to have staged a clever scam offering potential his NFT holders poker his tournaments, virtual concerts and tennis courts as part of holder perks. The virtual platform has lured investors with promises of plans to build virtual entertainment venues and casinos in the sandbox metaverse.
Regulators have also determined that Flamingo Casino Club was established in Russia in March 2022. The platform also has no “specific” physical address, and the phone number listed is unused, ideally hiding its location.
To get its face value legitimacy, this virtual casino forged a partnership with a long-running real-life casino, the Flamingo Las Vegas Hotel and Casino.The casino club is also at fault “deception and deception”For spreading the story about MarketWatch’s relationship with Yahoo.
KuCoin, Chainalysis and Talos complete funding
Crypto Trading Company Talos announced On May 10, it announced it had raised $105 million in a Series B funding round, propelling the platform to unicorn status at a valuation of $1.25 billion. Prominent individuals who have been part of the investment community include BNY Mellon, Wells Fargo Strategic Capital and Voyager Digital in a round led by General Atlantic.
In addition to the new numbers, early investors in the company, including Andreessen Horowitz, Fidelity Investments and PayPal Ventures, also expanded their partnerships through participation in this round. Talos says it will use the accumulated funds to continue its European and APAC expansion strategy.
Johnny Lyu’s KuCoin Crypto Exchange clearly The same day, it raised $150 million in a pre-series B round led by Jump Crypto, the cryptocurrency arm of Jump Capital. Other investors such as Matrix Partners, Circle Ventures and IDG Capital have also pushed the exchange’s valuation to his $10 billion.
On Thursday, blockchain analytics platform Chainalysis Said After raising $170 million, the valuation reached $8.6 billion. Singaporean capital markets firm GIC led the Series F, with participation from Accel, Dragoneer, Blackstone and BNY Mellon. Chainalysis aims to increase global reach and enhance product innovation.
Bitcoin Miner HIVE Blockchain Announces 5:1 Reverse Stock Split
Last Tuesday, cryptocurrency mining company HIVE Blockchain announced Plans to increase the desirability of the platform for institutional investors. The cryptocurrency miner said it intends to complete the common stock consolidation effective May 20.
The combination will reduce HIVE’s common stock outstanding from the current 411,209,923 shares to an additional 82,241,984 shares.Canada-Based Bitcoin Miner Hopes This Move Adds “shareholder value. ” The platform’s CEO, Frank Holmes, said at the moment it’s difficult for shareholders to get HIVE to compete with industry peers due to an overflow of outstanding shares.
Holmes explained that HIVE is suffering from the effects of a low stock price, even though its fundamentals, such as market capitalization and debt ratio, outperform its industry peers. He added that HIVE has impressive fundamentals compared to tech stocks, and that the share price boost from mergers will make miners even more attractive.
He said organizational visibility is a key advantage achieved by the coming changes. HIVE stock is expected to grow beyond the sub-$5 price that most institutional investors don’t participate in.
Cryptocurrencies could become a global regulator within the next year, according to Hong Kong SFC CEO
The crypto regulatory scene is expected to change in the future due to the evolution of crypto and blockchain technology. Ashley Adler, chairman of the International Organization of Securities Commissions (IOSCO) and CEO of the Hong Kong Securities and Futures Commission, has suggested that a joint crypto regulator could come sometime next year.
adler is busy At a virtual conference hosted by the Official Monetary and Financial Institutions Forum (OMFIF). He said the rise of cryptocurrencies is now a major area of focus alongside climate change and the COVID-19 pandemic. He further said that digital assets are coming into the limelight as their relationship with traditional finance increases.
A Hong Kong SFC executive explained that the crypto sector is fraught with dangers such as: “Lack of cybersecurity, operational resilience and transparency.”This requires a globally coordinated regulatory effort.
The IOSCO chair said his proposed solution to the current uncertainties would create a natural fit for climate finance mechanisms, such as those under the G20’s giant economic groups.
Chile delays CBDC plans, plans to conduct deeper analysis
Chile said last September it would do so this year decision On the strategy to roll out the Central Bank Digital Currency (CBDC), the digital peso.However, as the newly released reportthe Central Bank of Chile has refrained from issuing government-controlled digital tokens and has decided that more analysis needs to be done to concretely establish the benefits and risks.
Wednesday’s report explained that there is currently not enough information to support a final decision.The bank will hold a series of informative sessions, including seminars and presentations.
The central bank nevertheless acknowledged that a CBDC could enhance its capabilities. “A Competitive, Innovative and Integrated Payment System”Protect user information in an appropriate and resilient manner. It added that issuing a CBDC could help solve the potential problem of large-scale use of cryptocurrency payments as cryptocurrencies grow.
Bank Governor Rosanna Costa said that for Chile to adopt a CBDC, online and offline payments must be possible and traceable transactions must be easy. Speaking at an event hosted by the Bank for International Settlements (BIS), Costa noted that the technology that facilitates this is still not very efficient.
Weekly Report Post: Flamingo Casino Club Shuts Down, Talos Becomes Unicorn, HIVE Blockchain Consolidates Equity And More Home Of Altcoins: All About Crypto, Bitcoin And Altcoins | First To Appeared. Cointext.com.