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Bitget Announces New Partnership with Football Legend Lionel Messi

by Blockchain NewsOctober 23, 2022

Bitget, one of the world’s fastest-growing cryptocurrency exchanges platforms for trading crypto derivatives has announced a collaboration with Argentina football star and winner of seven Ballon d’Or Awards, Lionel Andres Messi in a news article.

Through this collaboration, Bitget will provide Messi supporters with a special chance to learn more about Web 3.0 and the possibilities of trading cryptocurrencies on the exchange. Additionally, it is agreed upon that the collaboration will enable both sides to dedicate themselves to more significant initiatives that go beyond cryptocurrencies and football.

“I wanted to express my gratitude to Bitget for inspiring me to get involved in the cryptocurrency community. I have faith that both parties will launch worthwhile initiatives and provide web 3 to sports enthusiasts “Says Leo Messi.

“The partnerships we choose to attempt to portray the richness and diversity of our platform community. They let cryptocurrency traders into the field, and we let sports fans into Web 3”, says Bitget’s managing director, Gracy Chen.

Bitget is a leading cryptocurrency exchange that was founded in 2018. With over 55,000 professional traders and nearly 1.1 million followers, One-Click Copy Trade, Bitget’s main social trading tool, demonstrates the company’s substantial work and success in the social trading of cryptocurrencies.

While many cryptocurrency platforms are battling the uncertainty brought on by the recent collapse of the digital currency ecosystem. Bitget asserted that it is in a good position to increase its workforce by 100% before the end of the year.

Lionel Messi’s partnership is not the first to be occurring in the digital space. In related news, Usain Bolt, an 11-time world champion and eight-time Olympic gold winner, has partnered with Step App to elevate fitness and exercise through the use of Web3 and the metaverse.

In 2020, Italian soccer giant, Juventus Football Club enters into a licensing agreement with Sorare, a blockchain-based fantasy football company. As part of the partnership, Juventus will provide extremely rare digital collector cards of some of the team’s most famous superstars, including five-time Ballon d’Or winner Christiano Ronaldo while Sorare will provide digital cards that are created on the Ethereum technology.

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Gavin Wood Steps Down as CEO of Parity Tech While Retaining the Chief Architect Position

by Blockchain NewsOctober 23, 2022

Gavin Wood, founder of Polkadot and Chief Executive Officer (CEO) of Parity technologies has officially resigned as CEO of Parity.

According to news reports from Parity, Wood will continue to be a major stakeholder and chief architect but will give up his role as CEO. The next CEO will be Parity co-founder Bjorn Wagner.

Wood’s decision to step down as the CEO comes from his need to find eternal happiness and also have enough time for the things he enjoys doing such as coding, designing, creating ideas, and working on Polkadot token (DOT) so as to deliver value toward fulfilling the company’s mission.

“My retained efforts will be geared toward ensuring that Polkadot and Web3 become available to a large amount of the population,” says Wood, adding that he believes the first step in doing this will be to assist the community in creating a number of intriguing chain-integrated social primitives, which are essential for the company to create a truly Web3 platform.

Parity technologies is a key provider of blockchain technology built to disrupt centralized online services and provide institutional innovation.

This was made available with the creation of Parity Ethereum, a prominent Ethereum Client. Currently, Parity is concentrating on Substrate, a blockchain foundation that is industry standard. It has made use of it to create Polkadot, a decentralized web blockchain meta-protocol that connects and secures global crypto-economies.

Through the Polkadot Relay Chain, the Polkadot Protocol can link public and private chains, permissionless networks, oracles, and emerging technologies. This enables these separate blockchains to share data and transactions in an untrustworthy manner.

Many Polkadot users do not seem to be bothered by the news. A Twitter user @Qinwen_Wang says “anything Gavin does or chooses, we support.”

The news of Wood’s resignation as the CEO of Parity comes after Alex Mashinsky recently tendered his resignation as CEO of the troubled crypto loan company Celsius Network.

Peng Zhong, CEO of Ignite, the organization that created the Cosmos blockchain ecosystem also announced his departure from the company earlier in July.

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Tagged : GAVIN WOOD / Industry Expert / PARITY TECHNOLOGIES / Polkadot

US Judge Rejects Motion to Dismiss Fraud Case Made by Former OpenSea Employee

by Blockchain NewsOctober 23, 2022

Nathaniel Chastain, former Head of Product at OpenSea has been denied the motion to dismiss the wire fraud case leveled against him by a Southern District Court in New York as reported by The Block.

In a memorandum and order published in the week, District Judge Jesse Furman expressed his formal disagreement, denying the motion to dismiss the indictment, stating that the argument “is without substance.”

Chastain was indicted in May by a grand jury for allegedly misappropriating OpenSea’s business information under count one charge as regards which Non-Fungible Tokens (NFT) are going to be featured thus using the information to buy NFTs before they are featured on the company’s homepage.

The indictment claims that Chastain engaged in “insider trading” of NFTs from approximately June 2021 until approximately September 2021. More precisely, Chastain is accused of stealing from OpenSea, his employer, by using the company’s trade secrets.

Chastain’s Attorney stated in his filing to dismiss the case that NFTs are neither commodities nor securities and therefore Insider trading cannot arise in any way or circumstance if there is no connection to the financial markets.

He also highlighted that the necessary bitcoin movements from one personal digital wallet to another personal digital wallet do not and cannot be claimed by the government to constitute a “financial transaction” under the money laundering legislation. The indictment must therefore be dismissed due to the reasons stated above.

OpenSea in the Face of On-going Challenges

OpenSea has continued to thrive and develop its processes in spite of challenges that are being faced in the digital ecosystem.

In August, OpenSea, the largest marketplace in the world for trading NFT goods, made public its new rules dictating how stolen digital artwork and other types of theft are handled on its platform.

Opensea has recently introduced new functionality in its platform that allows users to bulk list and buy up to 30 products at once from the same chain in a cart before paying for them all in one transaction in a recent report.

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Tagged : Legal / NFT / NFT THEFT / Opensea / Policy

BAC Strategists Say Bitcoin’s Shifting Correlations May Indicate That It Is Regaining Popularity

by Blockchain NewsOctober 23, 2022

The current shift in the position of Bitcoin in relation to other digital assets has made it possible for the Bank of America Corp (BoA) to believe it is becoming a safe space in the blockchain industry yet again after experiencing a downfall over the past months.

BoA digital strategists Alkesh Shah and Andrew Moss observed that bitcoin and gold now have a 40-day correlation of about 0.50, up from a correlation of nearly zero in mid-August. Despite being higher, at 0.69 and 0.72 respectively, the correlations between the S&P 500 and the Nasdaq 100 have leveled out and are now below previous highs. They further hinted that this could be a good sign that bitcoin may soon accelerate.

The analysts further stated that “as economic uncertainty persists and a market bottom yet to be seen, investors may consider Bitcoin as a relatively safe haven due to a decelerating positive correlation with SPX/QQQ and a quickly rising correlation with XAU.”

El Salvador Lags Behind as Spain Overtakes to Become Third Largest Crypto ATM Hub

by Blockchain NewsOctober 23, 2022

With a total of 215 crypto ATMs hosted in Spain, the country has now outpaced El Salvador, which is home to 212 crypto ATMs, down to the fourth position, following Spain’s third position.

According to data from CoinATMRadar, the European country of Spain is home to 0.6% of the global crypto ATM installations, making it home to the third most extensive network of Bitcoin and cryptocurrency ATMs after the United States and Canada.

Crypto ATM distribution by continents and countries. Source: CoinATMRadar

In addition, the data also proves that Spain is the highest contributor to crypto ATMs in Europe, which represents 14.65% of total installations in the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs), and Romania (135 ATMs).

Crypto ATM installation growth in Spain. Source: CoinATMRadar

Spain installed 43 crypto ATMs in 2020 and recently shared its intent to install an additional 100 ATMs by the end of the year, which will total the number of crypto ATMs the country hosts to 300 once completed.

Greece has the sixth spot in cryptocurrency ATMs, and with the invasion of tourists in the country, Bitcoin ATM operator BCash shared insights on the usage statistics in the country.

BCash managing director and co-founder Dimitrios Tsangalidis unveiled that regardless of the installation of crypto ATMs in tourist hotspots, most usage comes from the main city area.

Tsangalidis added that a combination of crypto winter and tourist seasons has brought about a slowdown in regular traffic in crypto ATM usage.

Although not all countries in the globe have installations of crypto ATMs at the moment, however, it’s worth noting that crypto ATMs play a significant role in crypto adoption. As time passes by, we might begin to see more countries begin to host them.

Last year, the meme-based cryptocurrency, Dogecoin was made accessible at 1,800 ATMs across the United States. Individuals could purchase directly from Coinflip ATMs in 45 of the 50 US states.

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Tagged : Bitcoin / CRYPTOCURRENCY ATM / Data / Industry / News / Report

Scammers Put Gate.io users at Risk as Exchange’s Twitter Account Gets Hacked

by Blockchain NewsOctober 23, 2022

Gate.io hacked Twitter account appears to be promoting a fake giveaway of 500,000 USDT, putting users at risk of losing funds.

A hacker from unknown origin has taken over crypto exchange Gate.io’s Twitter account, putting the exchange users of over 1 million at risk of wallet drainage to the ongoing fraudulent 500,000 USDT giveaway.

The hacker replaced the website URL in the exchange’s Twitter account from the initial Gate.io to a fake one, gate.com (https://xn--gte-ipa.com/), impersonating the exchange.

The fake website was seen promoting a phony giveaway of 500,000 USDT, asking users to connect their wallets (such as MetaMask) to claim the rewards. Once a user bulges and connects their wallet to the scammer’s fake website, the hacker gains access to the existing funds in their wallet and eventually drains their assets.

PeckShield, a notable Blockchain investigator, also confirmed this hack and warned users about the fake website.

Notably, Gate.io has now recovered its Twitter account, as it appears the original website is now back on the company’s page.

Hacking major Twitter accounts in the industry to scam fans or users is not a new thing. Last year, Blockchain.News reported that Graham Ivan Clark, the teenage hacker who took over popular Twitter accounts in 2020 and used them to scam users out of Bitcoin, was found guilty in a Florida court.

Clark hacked into verified Twitter accounts belonging to prominent figures like US President Joe Biden, former President Barack Obama, Amazon founder Jeff Bezos, Tesla CEO Elon Musk, Uber, socialite Kim Kardashian, and other personalities. He was then able to tweet out messages asking for followers to send Bitcoin.

While hacks like this could continue to surface, the United States Federal Bureau of Investigation (FBI) has recently warned that individuals should verify the validity of any investment opportunity and be on the lookout for misspelled URLs as well as domain names impersonating financial institutions, especially cryptocurrency exchanges.

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Tagged : Cryptocurrency Exchange / Cybercrime / Gate.Io / Hack / SCAM