DOJ: Rug Pull on Notice
65 | Rug Pull 🍋 Morning Squeeze, 🌏 Web3 News, 🎧 A Conversation With.
DOJ charges 2 in NFT “Rug Pull”
NFT Corner 🍋 : Crayzillas on Morning Squeeze
Web3 News + Key Takeaways
Coming next Week: A Conversation With Toby Lasso
Volume 65 showcases a major step towards Rug Pulls, Crayzillas on Morning Squeeze, and A Conversation With.
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DOJ
NFTs have taken the collective breath away globally over the past year for many. From the wild appreciation in “jpeg” pictures of animals to daily headlines of large established brands getting into the market. One of the notable trends unfortunately has been the trend of the “Rug Pull”. We noted what a Rug Pull was back in volume 58 but here is a reminder:
The Rug Pull artist(s) was just put on notice as the DOJ unveiled charges against the creators of the project “Frosties”.
Per the DOJ, two individuals committed fraud by allegedly taking the money raised during the NFT sale and moving on rather than continuing to develop the project. When arrested, the defendants were preparing to launch a new NFT project anticipated to raise more than $1 million dollars. This case is among the first of its kind relating to NFTs.
Overall, this is a big moment in the evolving area of digital art and blockchain technology. It directly puts potential bad actors on notice going forward. It immediately makes you wonder who/what is next. Like it or not, some form of industry regulation is eminent. This is the type of regulation most in the space would likely be ok with.
NFT Corner
Every weekday morning at 9AM PDT/12PM EDT we record a new global episode live on Twitter Spaces. Connecting people from across the world in real time, each Morning Squeeze is uniquely built around community. It showcases active participation while highlighting the best of the Little Lemon Friends everyday.
A highlight from the last week includes an incredible 3 hour conversation with the founders of Crayzillas. An NFT project bringing to market the concept of the first NFTs that you color in and embrace your inner artist!
If you missed one of the best Morning Squeeze episodes yet, you can listen here:
Tune in to find out what a global decentralized audio conversation around utility and community building in the digital space sounds like. Active participation is allowing us day by day to create and evolve the web3 space together. 🍋
🟣 Crypto.com picked as an official FIFA World Cup sponsor
Key Takeaway: “Signs with Crypto.com will be displayed across soccer fields as millions tune in to the FIFA World Cup.” (source: The Block)
🟣 Bridgewater “world-leading hedge fund” plans crypto fund investment for 1st time
Key Takeaway: "Crypto markets are now large enough to allow for positions in sizes relevant to institutional investors." (source: Markets Insider)
🟣 Cool Cats NFT collection signs with CAA
Key Takeaway: “People’s perception of Cool Cats solely exists in the NFT capacity right now, but that’s really just our launching platform for the brand as a whole, so we intend to take it in just about every avenue that we possibly can.” (source: Hollywood Reporter)
A Conversation With 🎙 on iTunes & Spotify!
The last 10 episodes have included an incredible range of individuals making major moves in Web3. We’d like to thank these amazing guests and thousands of listeners who have participated during our AMA sessions between episodes 11-20.
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