Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining cryptocurrency exchange Cryptocurrency Investment Cryptocurrency news

Nearly 100 Customers Sue Coinbase Over Its Wallet App

Coinbase is in trouble after nearly 100 customers filed lawsuits against the Western Hemisphere’s largest digital currency trading platform.

Customers Are Angry at Coinbase

These customers accuse Coinbase of turning a blind eye to a scam that ended up costing them over $21 million in digital currency funds. The problem stems from the Coinbase Wallet, which last fall, when downloaded, directed users to fraudulent or fake websites that allowed scammers and hackers to take control of their accounts and transfer their digital assets to Coinbase wallets.

To date, due to the terms and conditions applied by Coinbase, none of the lawsuits in question have resulted in defendants or plaintiffs going to court. Instead, everything is handled through an arbitration process. This ensures that details remain out of the media and that lawsuits take place privately between the company and those affected. Legal disputes are heard by a neutral decision maker who then decides which party deserves a decision in their favor.

In the arbitration process, customers allege that Coinbase was well aware of what was happening with its wallet application and that executives did nothing to address it or minimize the damage. They made several attempts to alert Coinbase bosses to what was going on, but little was done to acknowledge their concerns or the money they had lost. Now these people are taking stronger means to get their money back and get justice for themselves.

To say it was a difficult year for Coinbase would be an understatement. 2022 has been affected by digital currency based issues for everyone, although Coinbase has arguably been affected more than others. What was initially supposed to be a year of massive hiring and taking headcount to new levels turned into a time when not only were all hiring plans put on hold, but the exchange subsequently announced that it would lay off around 18% of its team. to deal with the cryptocurrency windfall the space was experiencing.

The company has had a tough year.

Furthermore, the company has seen its shares crash and burn in recent weeks due to how tied it is to bitcoin, the world’s largest and most popular cryptocurrency by market capitalization. The asset has lost over 70% of its value in the past 12 months, and with bitcoin losing so much in such a short period, the digital exchange is seeing similar results.

When the company first went public in April 2021, shares were priced above $300, even though those same shares have since dropped into the $50 range. Coinbase is also the subject of a new SEC investigation.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining cryptocurrency exchange Cryptocurrency Investment Cryptocurrency news

Relai customers can now buy BTC through Checkout.com

Relai, a Swiss bitcoin app, teams up with Checkout.com to enable all its customers to buy mainstream digital currency tokens such as bitcoin and Ethereum.

Relai and Checkout.com… A perfect couple?

The move is slated to improve cryptocurrency adoption and give the space a stronger level of legitimacy. Checkout.com is a global payment provider that works with businesses around the world to ensure their customers can purchase goods and services using multiple payment options, no matter where they are located.

Furthermore, Relai is now the only bitcoin-focused company to offer instant transactions through the personal wallets of any customer using its services. Julian Liniger, CEO and co-founder of Relai, explained in a recent statement:

At a time when it's increasingly important for people to be in control of their money, we're excited to announce our partnership with Checkout.com. This is an exciting time for the entire Relai team, and it means we've finally achieved our ambition to create the world's easiest bitcoin app. People can now buy bitcoins instantly and 24/7 with direct delivery to their self-controlled wallet. This is a world first."

Esteban Sadurni, Director of Cryptocurrencies and Digital Assets at Checkout.com, also mentioned:

 We are technical at heart and have supported the cryptocurrency industry for several years. That's why we're excited to partner with Relai to support their mission to make Bitcoin easier, simpler, safer and more accessible for everyone who uses our payment technology.

Membership is not as focused on allowing customers to purchase items and services with digital currencies. Instead, Relai is taking on a form more akin to a cryptocurrency exchange, as it will allow customers to purchase assets like bitcoin with a variety of payment methods, including Mastercard and Visa cards, along with Apple Pay through Checkout.com.

All transactions will take place in real-time, so customers won’t have to wait days or even minutes to see their assets placed in their connected wallets, and transfers will take place in a matter of seconds. Another decisive factor is that trading is available to users 24 hours a day, seven days a week, and there are no interruptions in service hours.

Cryptocurrencies can guarantee financial independence

Relai has long sought to give its customers full and complete control over their money, which is why it’s turning to cryptocurrency for the long haul. Through the world of traditional finance and standard banking, we are often subject to prying eyes, third parties and intermediaries who have a say in what can and cannot be done with the money.

Ultimately, this removes autonomy and customers are often subject to the decisions of outside observers before they can transact or engage in monetary activity. Through cryptocurrencies, transactions can at least remain semi-private, with all assets owned directly and wholly by the investors who own them.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining cryptocurrency exchange Cryptocurrency Investment Cryptocurrency news Investment News

AIBC European Summit kicks off with full featured agenda

In November, the AIBC European Summit returns to awaken Malta from its autumn stupor. By prioritizing quality over quantity, extra care has been taken to ensure delegates get the most for their investment; from top-notch networking opportunities to KOL-led keynotes and panels for maximized visibility for all startups. Read the highlights not to

I want to miss AIBC Summit Malta Week 2022.

Schedule

A lot of effort went into putting together the event agenda. It was calibrated to be as strategic and fluid as possible.

Day 1 will begin with the VNTR Capital Breakfast, where delegates will have the opportunity to network and

discuss the latest technology trends with active Venture Capital investors, business angels and HNWIs. The day’s conference is scheduled to start early and is packed with important information on recent 2022/2023 bull and bear market trends. The best VCs will take over from 10:40 am to cover the best market and investment strategies. The AIBC Startup Pitch will follow immediately, ensuring maximum VC visibility for emerging entrepreneurs.

The lectures will take place in two stages over the two days and have been structured to cover a wide range of

topics at any time. From Crypto and Blockchain technologies to GameFi and Web3 education, delegates will benefit from keynotes and panels featuring the brightest minds in the industry.

The launch of AIBC Europe

More than keynotes and panels, the AIBC Summit is about envisioning and building an exciting future for innovative technology. The SiGMA Group is all about honoring the vision, courage and determination required to elevate any company from a localized idea to a global phenomenon. It does this by providing startups with a stage to showcase their exciting ideas, ensuring maximum visibility from high-priority investors.

We put out the call and over 100 startups responded, now ready to take advantage of a highly coveted spot at the AIBC Summit! The best start-ups will also compete on stage in front of a panel of judges, hand-picked to ensure the highest quality and diversity of backgrounds and experiences.

The judging panel comprises Scott Stornetta, Marianna Tavella, Efrem Borg, Johan Zammit, David Orban and Saeed Aldarmaki, bringing together decades of experience in Cryptocurrencies, Blockchain, BizDev and regulation. Our key launch competitors include Arena Games, Farcana, Encore Fans and Nanit Robot, covering SocialFi, GameFi, EdTech, Robotics, Crypto, Blockchain and Web3 infrastructure innovation.

Launch of AIBC Startup | AIBC United Arab Emirates 2022

Join us: 14th to 18th November for Malta Week

One of the first European countries to regulate the gaming industry, Malta is a global business hub. The island is an obvious choice for AIBC’s presence in Europe and a solid base for the future of the sector. With a wealth of perspectives for investors and entrepreneurs looking to shape the future of this multibillion-dollar business, Malta Week will bring together industry giants across gaming affiliates, operators and providers.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining cryptocurrency exchange Cryptocurrency news

Has the FTX Exchange finally reopened withdrawals for clients?

According to on-chain data provider Nansen, the indebted FTX has finally reopened withdrawals for its clients. According to the data, one user was able to withdraw $2.6 million worth of ETH, while another was able to withdraw $1.3 million worth of USDC from the exchange.

Strangely, the data also shows that a user deposited $21,000 on the exchange to try to arbitrage odd prices on FTX and withdraw to some other niche asset.

Hearing rumors FTX reopened withdrawals and it seems to be true: one address got just over $2 million

Follow him here: https://t.co/YnE8gJPyvo pic.twitter.com/lp1Arag5vk

— Andrew T (@Blockanalia) November 10, 2022

FTX stopped withdrawals earlier this week due to liquidity issues with its sister company Alameda Research. Rival exchange Binance stepped in and signed a non-binding letter of intent to buy FTX only to pull out of the transaction 24 hours later.

FTX CEO Sam Bankman-Fried said in a tweet on Thursday:

“We spent the week doing everything possible to increase liquidity”
Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining Investment News Metaverse

Flipkart, the Indian commerce giant, will allow customers to buy items in the metaverse

Flipkart, the Walmart-backed Indian e-commerce giant, has launched a pilot program to let its customers experience shopping in a metaverse environment. The company announced the launch of its own metaverse, called Flipverse, in which different brands will be able to offer their own shopping experiences.

Flipkart to Launch Flipverse: A Shopping Metaverse

Flipkart, one of the largest e-commerce companies based in India, has announced that it will test its own shopping experience in the metaverse. Called Flipverse, this metaverse will allow customers to experience shopping as if they were physically present in an online store through their smartphone.

According to the company, the experience wants to bring gamification and loyalty points to the shopping experience, allowing customers to accumulate supercoins and digital collectibles from different brands that are already accredited to be part of this pilot program.

To create the new platform, Flipkart partnered with eDAO, a company incubated by Polygon, to prepare the metaverse experience for launch this month. The company has already signed up several key partners, including Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, VIP, Ajmal Perfumes, and Himalaya, who will be able to offer their own custom booths and experiences in the Flipkart metaverse.

A Flipkart executive stated:

The idea is to get millions of users to experience Flipverse and open the door to the future of shopping. Fifteen years ago, we were the first Indian company to launch Web 2.0-based commerce. And I feel that today we are the first company to launch Web 3.0 commerce.

Retail and the metaverse

While metaverse retail experiences have been fairly limited so far, with video from 2017 resurfacing this year showing an example of how shopping would be done in a hypothetical Walmart-themed metaverse, Flipkart and Polygon believe there is a great opportunity in the future for that. type of virtual shopping experience.

Sandeep Narwal, co-founder of Polygon, stated:

While we're just beginning to scratch the surface of what's possible in the metaverse, we see e-commerce as one of the defining use cases. Combining top brands with Flipkart's eCommerce expertise in a virtual environment revolutionizes online retail as we know it.

Walmart, which owns 72% of Flipkart, already made its first metaverse move into the Roblox universe in September, launching two experiences called “Walmart Land” and “Walmart’s Universe of Play.”