Many tech companies are expanding their reach into the web3 market, integrating blockchain and web3 technologies into their products and services. In the latest development, South Korean internet giant Naver is launching its first digital asset wallet, Naver Pay Wallet, for the Korean market. It is partnering with Chiliz, a blockchain provider for sports and […]
The crypto founder who didn’t save Puerto Rico after all
In Puerto Rico, tax breaks enacted in 2012 aimed to juice the economy by encouraging mainland U.S. citizens to do business and live on the island, where they could apply to pay nothing in capital gains taxes. But the tech — and primarily crypto — entrepreneurs who showed up in droves to shield their wealth […]
SEC charges crypto firm NovaTech with fraud
The U.S. Securities and Exchange Commission (SEC) is suing a crypto startup, NovaTech, for allegedly fraudulently raising more than $ 650 million from over 200,000 investors, many in the Haitian-American community. The SEC frames NovaTech, founded in 2019 by husband-and-wife duo Cynthia and Eddy Petion, as a multi-level marketing (MLM) scheme — one that lured […]
Terraform Labs co-founder and crypto fugitive, Do Kwon, set for extradition to South Korea
The Appellate Court of Montenegro ruled on Thursday that Terraform Labs co-founder, Do Kwon, should be returned to his home country, South Korea. The ruling confirmed an earlier decision in April from the High Court of Podgorica which rejected a request to extradite the crypto fugitive to the U.S. The extradition date for Kwon to […]
The SEC has charged an a16z and Sequoia-backed crypto startup founder with fraud
The founder of once-hyped crypto startup BitClout is facing trouble. On Tuesday, the SEC charged BitClout founder Nader Al-Naji with fraud and unregistered offering of securities, claiming he used a pseudonymous identity to avoid regulatory scrutiny while he raised over $ 257 million in cryptocurrency. BitClout, a decentralized social media platform, raised from a who’s-who […]