Bitcoin News and Finance: What You Need to Know

Cryptocurrency exchange Binance has warned investors of a “massive phishing scam via SMS.” The scammers sent SMS messages to crypto users informing them of a withdrawal request from an unknown IP address they may want to cancel. Massive Phishing Scam Targeting Crypto Investors Binance CEO Changpeng Zhao (CZ) tweeted Friday: There is a massive phishing scam via SMS with a link to cancel withdrawals. It leads to a phishing website to harvest your credential as in the screenshot below. According to the Binance boss, scammers sent SMS messages to cryptocurrency investors stating that a withdrawal has been requested from an unknown IP address. The message then asks investors to click a link to cancel the withdrawal request. However, the link leads to a phishing website that will attempt to steal credentials from investors. The Binance CEO further advised that users should always go directly to the Binance website via a bookmark or type the URL into the browser. He stressed: Never

PRESS RELEASE. The world of e-commerce is rapidly transitioning to that of social commerce, where demand for products is driven by videos and posts from social media. Both brands and their consumers can benefit from advertising products through social media, with stronger sales and valuable insights into product use cases, which further encourage online shopping. Video commerce already accounts for 10% of Chinese e-commerce – a trend that is already making its way to the West. That’s why we are thrilled to be hosting the seed sale of Meloot ($LADA) on the KICK.IO launchpad . Meloot is the first decentralized e-commerce platform on the Cardano blockchain, powered by its native utility token $LADA. You can think of Meloot as Amazon driven by TikTok, where e-commerce capabilities are utilised in synergy with video-based shopping, and Meloot algorithm connects people to the brands they like through an interactive medium. Meloot offers a platform for the sale and purchase of physical

Nike has filed a lawsuit against an online reseller using unauthorized Nike shoe images in non-fungible tokens (NFTs). “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks,” Nike alleges. Nike Sues Online Retailer Over NFT Sales Sneaker giant Nike filed a lawsuit against online reseller Stockx in New York federal court last week for selling non-fungible tokens (NFTs) using unauthorized images of Nike shoes. Detroit-based Stockx, valued at more than $3.8 billion last year, began selling NFTs last month, Nike detailed, adding that the reseller has sold over 500 unauthorized Nike-branded NFTs. The sneaker giant further noted that Stockx told buyers they would be able to redeem the tokens for physical versions of the shoes “in the near future.” Nike claims that by minting “Vault” NFTs based mostly on popular Nike sneakers, Stockx is infringing upon and diluting its trademarks. Acc

U.S. Senator Ted Cruz has declared his bitcoin purchase worth up to $50,000. “I’m also particularly proud that my home state, Texas, is becoming an oasis for the blockchain community, for bitcoin miners, for innovators and entrepreneurs in the crypto world,” said the senator. Senator Ted Cruz Declares Bitcoin Purchase U.S. Senator Ted Cruz has bought the bitcoin dip. A Periodic Transaction Report filed on Friday shows that the senator from Texas personally bought bitcoin worth between $15,001 and $50,000 on Jan 25. On the date of the transaction, the price of bitcoin was hovering around $37,000 based on data from Bitcoin.com Markets. At the time of writing, the price of bitcoin is $41,708. BTC is up 10.5% over the past seven days but down 4.2% over the last 30 days. The senator from Texas has long been a vocal bitcoin proponent. In June last year, he said that people are flocking to BTC because the U.S. is on the verge of an inflation crisis. In November last year, he introd

Google has shared some details of its web3 and blockchain strategies. “As a company, we are looking at how we might contribute to the ecosystem and add value,” said Sundar Pichai, the CEO of Google and its parent company, Alphabet Inc. Google’s Web3 and Blockchain Strategies The CEO of Alphabet Inc. and its subsidiary Google, Sundar Pichai, shared some information on the group’s blockchain strategy during the company’s Q4 earnings call last week. Pichai was asked about his view on web3 and Alphabet’s approach to the industry. “Anytime there is innovation, I find it exciting,” the Google CEO began, elaborating: On web3, we are definitely looking at blockchain, and such an interesting and powerful technology with broad applications, so much broader, again, than any one application. “As a company, we are looking at how we might contribute to the ecosystem and add value,” he continued, adding: Just one example, our Cloud team is looking at how they can support our customers’ need

The U.S. treasury department has warned that non-fungible tokens (NFTs) may present new illicit finance risks. According to industry estimates, the NFT market could reach $35 billion in 2022 and more than $80 billion by 2025. NFTs May Present Illicit Finance Risks The U.S. Department of the Treasury announced Friday the release of a “study on illicit finance in the high-value art market.” The study was mandated by Congress in the Anti-Money Laundering Act of 2020. “This study examined art market participants and sectors of the high-value art market that may present money laundering and terrorist financing risks to the U.S. financial system,” the Treasury wrote, adding: The emerging digital art market, such as the use of non-fungible tokens (NFTs), may present new risks, depending on the structure and market incentives. In order to combat the risks, the study recommends several options, including updating training for law and customs enforcement, enhancing private sector informa

The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have indicated. The executive power in Moscow favors regulation over the prohibition of cryptocurrencies and related activities. Government Inclined to Legalize Rather Than Ban Cryptocurrency in Russia The Russian government, which is hosting the ongoing debate on the future of decentralized digital money in Russia, is going to produce alternative scenarios for crypto regulation by Feb. 11. The Russian business daily Kommersant broke the news, quoting documents from a meeting held at the White House in Moscow last week. The fate of cryptocurrencies in the country is likely to be decided by the outcome of a clash between two opposing views. While the Central Bank of Russia proposes a blanket ban on crypto-related activities such as issuance, exchange, and mining, the Ministry of Finance pushes for lega