The R Roundup: Logan Pauls Criminal NFT Network? — Issue #70
When famous people get their hands on crypto, it often results, in the same way, every time. With a track record for his said affiliation to several crypto promotions, Logan Paul makes the headlines for crypto once again.
Through documentary-style videos, journalist Coffeezilla claimed Logan Paul was involved in numerous illicit activities regarding his NFT project “Crypto Zoo”. Coffeezilla added that there was no original code; instead, they stole a code from FlokiShibX, resulting in investors losing millions.
Logan Paul responded to these claims through a video of his own titled “My Response To Coffeezilla’s Scam Allegations”, which was later deleted from his channel. Paul claimed to have “unknowingly” hired multiple criminals and conmen who were tasked with the responsibility of developing Crypto Zoo.
Binance X ANC Pharmacy 👨⚕️🇺🇦
Binance started the year with a partnership that asserts its intentions with crypto and highlights blockchain's ability to make life easier for the average person.
One of the most prominent pharmaceutical merchants in Ukraine recently partnered with Binance to accept Binance Pay for their services. This initiative will allow Ukrainians to utilise Binance Pay at 1,100 pharmacies in 138 cities throughout Ukraine.
The partnership details claim that users will be able to use Binance Pay from January 3rd, an extension of Binance’s exchange that allows users to pay for items without converting their crypto to fiat.
Crypto Staff Cut Mania💇
The crypto winter looks to continue into the new year as several firms and projects decide to lay off numerous staff members to refine their balance sheets.
The latest to make the difficult decision is crypto lending firm Genesis. On Thursday, they announced that they would be cutting down their workforce, which resulted in 145 employees being fired, accounting for 30% of their staff.
Interim CEO Derar Islim said they need time to find a solution for the number of ongoing issues.
“As we continue to navigate unprecedented industry challenges, Genesis has made the difficult decision to reduce our headcount globally. These measures are part of our ongoing efforts to move our business forward. We sincerely appreciate the hard work of our talented and dedicated team as we continue to work to identify the best outcome for Genesis’s business, clients, and employees for the long term,” Spokesperson, Genesis
Coinbase Faces $50m Fine🤑🚫
Whilst they have been tipped to be one of the top exchanges in 2023, Coinbase has faced recent scrutiny from The New York regulators regarding their allowance of customers opening accounts without stringent due diligence checks.
To affirm their scrutiny, New York regulators fined Coinbase $50m on the grounds of “violation of the anti-money laundering laws”. As part of the settlement, Coinbase is expected to invest another $50m in its compliance program to prevent illicit actors from opening a Coinbase account.
“We found failures that really warranted putting in place an independent monitor rather than wait for a settlement,” Adrienne A. Harris, New York State’s Superintendent
Keep Your Eyes Out For The Phantom👻
2023 is the year to expand and grow. For The R Roundup, that will continue. News is at the forefront of this industry, and the deliverance of news is the raptured backbone of this industry. DeFi? NFTs? Bad Debts? Exploits?
We will answer all your questions soon, but…Keep Your Eyes Out For The Phantom👻
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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