TL;DR Breakdown Pepe grapples with unauthorized access to its main Telegram channel. A key social media account associated with PEPE, known as LordKekLol on platform X, has also been compromised. Contrary to the hacking claims, the current owner of the compromised accounts suggests that the PEPE team is going through internal disagreements. Description Recently, the memetic cryptocurrency, Pepe (PEPE), has faced challenges on multiple fronts. The contributors of this eccentric digital currency have reported unauthorized access to their primary Telegram channel, urging the community to label it as a scam. Meanwhile, a prominent PEPE-associated account on X, previously known as Twitter, has also fallen into the hands of … Read more Recently, the memetic cryptocurrency, Pepe (PEPE), has faced challenges on multiple fronts. The contributors of this eccentric digital currency have reported unauthorized access to their primary Telegram channel, urging the community to label it as a scam. Meanwhile, a prominent PEPE-associated account on X, previously known as Twitter, has also fallen into the hands of alleged scammers. Amidst these challenges, the coin’s value has declined, and there’s a noticeable…

TL;DR Breakdown Glass protocol co-founders have announced a staggering halt to the development of the NFT platform. Co-founders blame the harsh conditions in the industry. Description The cryptocurrency market has been a rollercoaster ride, and its effects have reverberated through various sectors within the crypto space. One such area is Non-Fungible Tokens (NFTs), where Glass Protocol, a venture-backed startup, recently faced the harsh realities of the bear market. Co-founders Sam Sends and Varun Iyer made a significant announcement on X (formerly … Read more The cryptocurrency market has been a rollercoaster ride, and its effects have reverberated through various sectors within the crypto space. One such area is Non-Fungible Tokens (NFTs), where Glass Protocol, a venture-backed startup, recently faced the harsh realities of the bear market. Co-founders Sam Sends and Varun Iyer made a significant announcement on X (formerly Twitter) that they would be discontinuing the active development of Glass Protocol due to insufficient demand for digital, tradeable video NFTs. Glass protocol blames insufficient demand for video NFTs Glass Protocol, a startup with a brief but impactful two-and-a-half-year journey, aimed…

TL;DR Breakdown Binance NFT announces a halt to The Sandbox NFT Staking Program, effective September 26, 2023. Staking of LAND NFTs on the Polygon Network will be suspended, with an automatic unstaking process set to begin on September 27, 2023. Binance NFT is ending its support for the Polygon Network, requiring users to complete all withdrawals by December 31, 2023. Description Binance NFT has announced changes that will reshape its platform’s offerings. Effective September 26, 2023, at 06:00 (UTC), the platform will terminate The Sandbox NFT Staking Program. This decision is part of a broader strategy to refine the Binance NFT Marketplace’s product offerings. The staking of LAND NFTs, currently hosted on the Polygon Network, will … Read more Binance NFT has announced changes that will reshape its platform’s offerings. Effective September 26, 2023, at 06:00 (UTC), the platform will terminate The Sandbox NFT Staking Program. This decision is part of a broader strategy to refine the Binance NFT Marketplace’s product offerings. The staking of LAND NFTs, currently hosted on the Polygon Network, will be suspended from the aforementioned date….

TL;DR Breakdown Indonesia’s central bank, Bank Indonesia, has established a National Task Force to expand the use of local currencies in transactions with partner countries, aiming to reduce reliance on the U.S. dollar. The task force involves multiple Indonesian government bodies and has already seen cooperation agreements for local currency transactions signed with countries like Singapore and South Korea, in addition to existing partnerships with Malaysia, Thailand, Japan, and China. The initiative aligns with broader global trends, including efforts by the BRICS nations and the ASEAN community to encourage using national currencies in international trade and financial transactions. Description Indonesia has intensified its efforts to minimize reliance on the U.S. dollar by establishing a National Task Force. The initiative aims to broaden the use of local currencies in transactions with partner countries. The announcement was made during the recent ASEAN Summit in Jakarta, marking a significant milestone in Indonesia’s financial strategy. The task force … Read more Indonesia has intensified its efforts to minimize reliance on the U.S. dollar by establishing a National Task Force. The initiative aims to broaden…

TL;DR Breakdown The recent crypto scam involving Grayscale has brought the light on the dangers of the Blue check mark on X formerly Twitter. The most recent crypto scam on X is the purported $25 million giveaway from a Grayscale verified page. Due to the ongoing menace x may lose credibility in giving accurate information because anyone can get a blue check, confusing vulnerable and unsuspecting users. The real Grayscale account has a gold mark reserved for corporations; users on X need to identify these changes to avoid getting fooled by the scammers.  Description Grayscale is presently under a scam threat. In recent times, the influence of social media on financial markets has never been more palpable. One central figure in this evolving landscape is Elon Musk, CEO of Tesla and SpaceX, among other ventures.  Users rely on Twitter (X) for accurate news and updates from verified pages. However, … Read more Grayscale is presently under a scam threat. In recent times, the influence of social media on financial markets has never been more palpable. One central figure in this…

TL;DR Breakdown The Blockchain Association advocates for fair tax legislation for digital assets. They urge for equal treatment between crypto and non-crypto assets in taxation. The association opposes Biden administration’s proposed 30% tax on electricity for crypto miners. Description It’s evident that the era of digital assets isn’t on the horizon; it’s right here, challenging our traditional financial systems and urging our lawmakers to adapt. But as they scurry to understand and legislate this elusive technology, industry players like the Blockchain Association are stepping up with their insights. They’re not just lobbying; they’re pointing … Read more It’s evident that the era of digital assets isn’t on the horizon; it’s right here, challenging our traditional financial systems and urging our lawmakers to adapt. But as they scurry to understand and legislate this elusive technology, industry players like the Blockchain Association are stepping up with their insights. They’re not just lobbying; they’re pointing out the disparities, inconsistencies, and ambiguities that could throttle the growth of an industry in its infancy. Addressing the Disparities Between Crypto and Traditional Assets The Blockchain Association…

TL;DR Breakdown Ripple acquires Fortress Trust, strengthening its U.S. market presence. Fortress Trust provides key regulatory and technological infrastructure for blockchain organizations. Acquisition adds to Ripple’s 30+ U.S. licenses, including the New York BitLicense. Description While the global financial industry remains in flux, Ripple has been strategically positioning itself for a greater slice of the American financial pie. Their most recent move? The acquisition of Fortress Trust. This is not just any acquisition; it’s a power move, indicating Ripple’s unwavering ambition to expand its dominance in the U.S. markets. Contents … Read more While the global financial industry remains in flux, Ripple has been strategically positioning itself for a greater slice of the American financial pie. Their most recent move? The acquisition of Fortress Trust. This is not just any acquisition; it’s a power move, indicating Ripple’s unwavering ambition to expand its dominance in the U.S. markets. Contents hide 1 Fortifying Its Regulatory Framework 2 Deepening Existing Ties 3 Beyond Fortress: A Ripple Effect in the Crypto World 4 Expanding Horizons with Fortress Fortifying Its Regulatory Framework The acquisition of…

TL;DR Breakdown Popular tech YouTuber Marques Brownlee, known as MKBHD, gave a critical review of Solana Mobile’s Saga, a specialized crypto phone, citing its limited appeal and average specifications. Despite unique crypto-centric features like the Solana Mobile Stack (SMS) and Seed Vault, MKBHD argued that the phone’s high initial price tag and subsequent reduction do not justify its overall value. Description Solana Mobile’s Saga, a specialized crypto phone, received a less-than-stellar review from popular tech YouTuber Marques Brownlee, known as MKBHD. Despite its high build quality and unique crypto-centric features, the phone’s limited appeal and average specifications have raised questions about its value proposition in the competitive smartphone market. The Saga was developed in collaboration with … Read more Solana Mobile’s Saga, a specialized crypto phone, received a less-than-stellar review from popular tech YouTuber Marques Brownlee, known as MKBHD. Despite its high build quality and unique crypto-centric features, the phone’s limited appeal and average specifications have raised questions about its value proposition in the competitive smartphone market. The Saga was developed in collaboration with OSOM, a company with experience in…

TL;DR Breakdown Glass, a crypto startup that sought to monetize NFT videos, falls victim to the ongoing bear market The startup intended to create a platform where the creators would directly relate with their fans, which is not the case on Instagram, YouTube, and TikTok. Glass founders tie the reason for closure in that the market demand for NFT videos is not enough to sustain the growth of Glass  Description A venture-backed crypto startup, Glass, is currently falling into the ongoing bear market. The startup, which sought to monetize NFT videos, has announced through its founders, Varun Iyer, and Sam Sands, that it would move away as the market can no longer sustain its growth. With the onset of a bear market that left even … Read more A venture-backed crypto startup, Glass, is currently falling into the ongoing bear market. The startup, which sought to monetize NFT videos, has announced through its founders, Varun Iyer, and Sam Sands, that it would move away as the market can no longer sustain its growth. With the onset of a bear market…

TL;DR Breakdown The FDIC acknowledges oversight failures in the near-collapse of First Republic Bank. First Republic’s unchecked rapid growth, reliance on uninsured deposits, and inability to handle interest rate risks were evident vulnerabilities. Despite these red flags, FDIC gave the bank top ratings for liquidity risk management in 2021. Description The financial landscape faced another jolt this year when First Republic Bank teetered on the brink of collapse. But as fingers are pointed and accountability sought, the Federal Deposit Insurance Corporation (FDIC) admits its role in the debacle. A Missed Beat in Regulation California’s gem, First Republic, once the epitome of banking prowess, spiraled into … Read more The financial landscape faced another jolt this year when First Republic Bank teetered on the brink of collapse. But as fingers are pointed and accountability sought, the Federal Deposit Insurance Corporation (FDIC) admits its role in the debacle. A Missed Beat in Regulation California’s gem, First Republic, once the epitome of banking prowess, spiraled into chaos, culminating in its near-demise this year. The root cause? A lack of confidence in the market…