This week [In] Crypto: War Rages On, Rise Of CryptoPunks, Serial Scammers Exposed

Did you miss anything about the crypto industry from March 7-13? We’ve got you covered with the most important news and cutting-edge details. From the war in Ukraine to the decree of the American president passing by the denunciation of Jake Paul.

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The Crypto Seeker

A YouTuber called Coffeezilla exposes online influencer fraud and recently caught Jake Paul in the act. He linked the boxer and social media celebrity to a series of crypto and non-fungible token (NFT) scam schemes.

According to Coffeezilla, Paul earned around $2.2 million from projects like Sacred Devils, Yummy, Milf, and STICKDIX. Although everything is transparent with blockchains, according to Coffeezilla, “it’s very easy to set up anonymous cryptographic identities whenever you want to do something fishy.”

Ukrainian conflict

It has been three weeks since the war in Ukraine started and many companies are trying, among other things, to comply with international sanctions. Additionally, Satoshi Labs has stopped exporting its notorious cold crypto wallets to Russia.

Major world economies fear that Russians could use cryptocurrencies to evade sanctions, as major money transfer services including PayPal and SWIFT have ceased to operate in Russia.

Coinbase, however, claims that crypto can ensure compliance with sanctions. The company has already blocked 25,000 Russian wallets. The company said,

“By transacting through shell companies, incorporating into known tax havens, and taking advantage of opaque ownership structures, bad actors continue to use fiat currency to hide the movement of funds.”

google invasion russia ukraine

More crypto donations

People around the world have responded to the ongoing war in Ukraine, with more than 120,000 donating a total of $63.8 million for humanitarian and military purposes, according to Elliptic.

One of the most famous NFT collection called Bored Apes Yacht Club (BAYC) has also contributed to Ukraine by donating $1 million worth of Ethereum (ETH).

In addition, three Ukrainian news companies have created an NFT collection of digital keys that allow people to read the latest articles on Ukrainska Pravda, Novoye Vremya and the NGO Hromadske. Outlets are trying to raise almost $1 million by selling each “NFT Key” for $99.99 from a pack of 10,000 digital collectibles.

At the time of writing, only 33 “NFT Keys” have been sold since the start of the project. The funds, according to the media, will help continue media operations in Ukraine.

Ukraine. Crypto,

From Larva Labs to Yuga Labs

BAYC and Mutant Ape Yacht Club (MAYC) creator Yuga Labs recently acquired CryptoPunks and Meebits from Larva Labs. Yuga Labs now owns the intellectual property rights for all four digital art collections while Larva Labs will keep some Punks and Meebs with another collection called Autoglyphs.

“While we will work to bring additional utility to the CryptoPunks and Meebits Collections, we intend to do so as thoughtful stewards. We are in no rush here. We will listen to the community before deciding what to do next,” Yuga Labs announced.

After the acquisition of Yuga Labs, the trading volume of CryptoPunks nevertheless increased. The floor price of a CryptoPunk NFT rose to around $195,000 with a 1000% increase in trading volume.

Similarly, the starting price of a collectible from Meebits also increased to $14,500 with a 529% increase in trading volume.

Bored Ape Yacht Club Creator Acquires CryptoPunks and Meebits Collections - beincrypto.com

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This week [In] Crypto: War Rages On, Rise Of CryptoPunks, Serial Scammers Exposed


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