Teererai Mukonavanhu
I'm a crypto, blockchain, and tech writer. I spend my time researching and writing about cryptocurrency, NFT, AI, and new technology.
Articles by Teererai Mukonavanhu
1 year ago
1 min read
In February, Mark Cuban, the owner of the Dallas Mavericks, is scheduled to be deposed in connection with a proposed class-action lawsuit that claims that he promoted a Ponzi scheme through Voyager Digital, a crypto lender that has now gone bankrupt. The deposition will take place on February 2 in Dallas, Texas. Additionally, two Dallas Mavericks employees will be deposed before February 23, while three plaintiffs behind the suit will be deposed before the end of the month. The lawsuit alleges that Cuban misled investors about Voyager’s services, claiming that it was cheaper and offered commission-free trading when it was
1 year ago
1 min read
Swyftx, an Australian cryptocurrency exchange, has announced it will end its Earn program due to the uncertain regulatory environment for crypto assets in the country. However, the exchange may reintroduce the program if regulations are simplified. The Australian Securities and Investments Commission has been monitoring local crypto product providers and has taken legal action against several firms for allegedly selling products without proper authorization. The Australian government is also working on plans to regulate the cryptocurrency industry and is expected to release a consultation document in early 2023. All remaining Earn balances will be restored to users’ trade wallets on
1 year ago
1 min read
Shiba Inu is a cryptocurrency that was created in August 2020 as a decentralized alternative to the popular cryptocurrency Dogecoin. It is based on the Ethereum blockchain and uses the ERC-20 token standard. The name “Shiba Inu” comes from a breed of Japanese dog and was chosen because the developers of the cryptocurrency wanted to create a fun and lighthearted alternative to other cryptocurrencies. The Shiba Inu logo is a stylized image of a Shiba Inu dog’s face. Shiba Inu’s main selling point is its decentralized nature, which means that it is not controlled by any central authority or organization.
1 year ago
1 min read
OpenSea NFT marketplace has implemented Arbitrum Nova, a Layer 2 blockchain designed to provide low-cost data availability. Through this integration, OpenSea customers will now have an economical way to purchase and sell digital collectibles compared to transactions on Ethereum. This integration follows OpenSea’s implementation of Arbitrum, another scaling network developed by Offchain Labs, in September of 2022. All collections on the Arbitrum Nova blockchain will be organized with the other Arbitrum collections on the OpenSea website. OpenSea may not be the first NFT marketplace to use Nova, which is also utilized by smaller competitors like Trove by TreasureDAO, Babylons, and
1 year ago
1 min read
A significant drop in trading volume has been observed at Huobi Global, which has gone from around $1.6 billion to $1.23 billion in the past day. This is due to rumors about the exchange’s financial issues and internal conflicts. The Huobi Token and TRON tokens have also witnessed a decrease in value. Ethereum has experienced a 7-day net flow of -$34.9 million. The HT token makes up a majority of the Huobi portfolio, which is currently valued at $908 million, while the portfolio balance for Ethereum is $2.1 billion and the balance across all chains is $2.9 billion. Justin Sun,
1 year ago
1 min read
The developer of a knock-off NFT collection called Mutant Ape Planet has been arrested in New York and charged with defrauding investors of $2.9 million in a “rug pull scheme.” The developer, French national Aurelien Michel, is accused of making false representations about the collection and using the funds for personal gain. Michel allegedly admitted to the community via social media that he had perpetrated a rug pull, saying “we never intended to rug but the community went way too toxic.” The collection, which is a knock-off of the popular Mutant Ape Yacht Club NFT collection, has had 567 Ether
1 year ago
1 min read
Blockchain gaming studio Illuvium will release an alpha version of its third game, Illuvium: Zero, tomorrow. The game, which will be available to the roughly 6,500 holders of Illuvium’s land nonfungible tokens (NFTs) on mobile and PC, is a building game in which players can develop and manage their “digital industrial complex.” In the game, land NFT holders can earn money by extracting fuel and selling it on the game’s marketplace. Illuvium’s two other games, Monster battler Illuvium: Arena and open world Illuvium: Overworld, are both in the beta testing phase. The company plans to open access to all three
1 year ago
1 min read
Avraham Eisenberg, the Mango Markets exploiter, has been ordered to be detained by the United States District Court for the District of Puerto Rico. This decision was made after a detention hearing, during which it was determined that Eisenberg must be held in custody pending trial because the government has proven that no conditions or combination of conditions of release would assure Eisenberg’s appearance as required. The potential length of Eisenberg’s incarceration if convicted and his strong ties outside of the United States were also cited as reasons for the decision. Eisenberg was arrested on December 28 for market manipulation
1 year ago
1 min read
LG Electronics has partnered with Oorbit, a cloud-based technology platform, and Pixelynx, a company building an integrated music, gaming, and Web3 ecosystem, to bring the metaverse to TVs. The partnership will allow users to access virtual worlds, concerts, and AI-generated multiplayer games through their LG TVs, making it easier for consumers to interact in the metaverse. The collaboration aims to scale Oorbit’s proprietary technology, which connects virtual worlds and makes it easy for developers and brands to bring their experiences into the metaverse, for millions of LG TV customers. LG Electronics updated its business development goals in March 2022 to
1 year ago
1 min read
Ukraine’s Bureau of Economic Security (BEB) has revealed an illegal cryptocurrency exchange operating in the country, with ties to an international money-laundering scheme using cryptocurrency. The exchange, which illegally exchanged fiat and cryptocurrency and allowed customers to purchase cryptoassets, was used to “transfer funds illegally” between Ukraine and the EU and to “launder the proceeds of crime” and “hide” the exchange’s operations “from financial regulators.” The exchange had “hundreds of individuals” as customers, in addition to “large companies,” and was discovered through cooperation with EU counterparts. The BEB, which was established in 2022 to shut down illegal cryptocurrency organizations, particularly
1 year ago
1 min read
An anonymous DeFi user had $3.4 million in GMX tokens stolen in a phishing attack. The native token of decentralized trading protocol GMX was then sold on the open market. A moderator in the GMX Telegram group confirmed the attack, stating that it had no connection to any issues on the GMX platform. The attacker began taking funds from the victim’s wallet at 7pm UTC on Jan 3, according to on-chain data. Security analysts estimate that the attacker sent out GMX worth around $3.4 million to another address, swapping it for ether, which was then transferred to an address believed
1 year ago
1 min read
Bonk is a cryptocurrency that has seen significant growth in recent days, with its price surging over 1622% since trading began on December 29, 2022. The popularity of Bonk, which is themed after the Shiba Inu dog breed and built on the Solana blockchain, has led to a 200% increase in its trading volume over the past day, reaching over $22 million. Bonk has also achieved a market capitalization of over $84 million. The creators of Bonk have airdropped 50% of the token’s supply to the Solana community, with a portion of that going to Solana non-fungible token (NFT) collections
