Author: Kryptonews

In one of the first cases to address the hi-tech new art world of non-fungible tokens (NFTs), a New York jury ruled on Wednesday that an artist violated the trademark rights of the French fashion house Hermès by selling pictures of furry, copycat purses as NFTs.The jury ruled that artist Mason Rothschild’s unauthorized versions of Hermès’s iconic Birkin bags, which the artist covered in fur, featured in an image collection he dubbed “MetaBirkins” and sold for a total of over $1m, were likely to confuse consumers.The jury awarded Hermès $133,000 in damages for trademark infringement, dilution and a violation called…

Dubai-based Indian memecoin creator, Sahil Arora, called memecoin rug pull schemes the most lucrative opportunity in an interview with the New York Post. According to the May 17 article, Arora, who boasts of earning millions of dollars from over 100 memecoin rug pulls, said:“The easiest way to make money is to deploy a meme coin, run it, and then sell as soon as you see [profits].”In rug pulls or pump-and-dump schemes, bad actors create a worthless memecoin, use false or paid endorsements to promote it, and sell it as soon as the price goes up. The creators usually control a…

Retired artist Ed Suman lost over $2 million in cryptocurrency earlier this year after falling victim to a scam involving someone posing as a Coinbase support representative.Suman, 67, spent nearly two decades as a fabricator in the art world, helping build high-profile works such as Jeff Koons’ Balloon Dog sculptures, according to a May 17 report by Bloomberg.After retiring, he turned to cryptocurrency investing, eventually accumulating 17.5 Bitcoin (BTC) and 225 Ether (ETH) — a portfolio that comprised most of his retirement savings.He stored the funds in a Trezor Model One, a hardware wallet commonly used by crypto holders to…

Introduction to Blockchain’s Evolution Blockchain technology has evolved far beyond its origins in cryptocurrency, now influencing industries ranging from finance and supply chain to healthcare and entertainment. As we approach 2025, blockchain adoption is accelerating, driven by institutional acceptance, regulatory clarity, and technological advancements. This article explores the top blockchain trends shaping the future, from decentralized finance (DeFi) improvements to Web3 innovation and enterprise adoption. Decentralized Finance (DeFi) 2.0: Enhanced Security and Scalability DeFi has experienced explosive growth, but challenges like hacks, high gas fees, and complexity have limited mainstream adoption. DeFi 2.0 addresses these issues with: Layer-2 Scaling Solutions…

Godfrey Benjamin Oct 25, 2022 17:00 Apple Says developers can now add NFT functionalities on Apps, but it leaves a wide caveat in its updated guideline American multinational tech giant, Apple Inc, the owner of the App Store, one of the largest application hosting platforms in the world has updated its guidelines to include an accommodation for its hosted apps to integrate Non-Fungible Tokens (NFTs). While this may come as very big news considering the exposure the new allowance will grant to developers and apps to integrate NFTs, Apple’s guidelines come with some…

Jennifer Sanasie is an executive producer and senior anchor at CoinDesk, with over a decade of journalism experience across the U.S., Canada, and South Africa. Beyond media, she has worked closely with Web3 companies on marketing, content, and business strategy.Jennifer holds an MBA from the Rotman School of Management, a Master of Laws in Innovation and Technology from the University of Toronto, a BA in Media Studies from the University of Guelph, and a Journalism Diploma from Humber College.She owns BTC, ETH, SOL, USDC, USDT, G7, and DCNT. She also holds a mix of NFTs, altcoins and memecoins worth under…

Digital asset investment products witnessed a surge in institutional interest last week, raising $882 million in crypto inflows globally. This marks the fourth consecutive week of gains, pushing year-to-date (YTD) inflows to $6.7 billion, just shy of the $7.3 billion peak observed in early February. Four Consecutive Weeks of Crypto Inflows The latest CoinShares report shows the fourth week of consecutive positive flows. In the week before that, crypto inflows hit $2 billion. The week prior, crypto inflows reached $3.4 billion as investors turned to digital assets for their haven status.   Before that, inflows into digital asset investment products were $146 million,…

What Are Smart Contracts? Smart contracts are self-executing agreements with the terms of an arrangement written directly into lines of code. They enable secure, decentralized, and transparent transactions without the need for intermediaries like lawyers or banks. Once a smart contract is deployed on a blockchain, it automates actions based on predefined rules and cannot be altered or tampered with. How Smart Contracts Work Smart contracts function similarly to traditional contracts but are enforced by code instead of legal systems. Here’s a step-by-step breakdown: Agreement Setup – Two parties agree on the conditions of a deal (e.g., payment releases when…

United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said.Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement.Details of companies, trusts and charities transacting on crypto platforms will also need to be reported.Failure to comply or inaccurate reporting may incur penalties…

Clear & Direct is a communication consultancy focused on helping businesses and individuals achieve more effective communication. They offer a range of services aimed at clarifying messaging, streamlining presentations, and ultimately improving overall impact. In a world saturated with information, their core philosophy centers on the power of simplicity and directness. Core Services Offered Clear & Direct provides a suite of services designed to address various communication challenges. These often include: Communication Audits: A thorough assessment of existing communication strategies to identify areas for improvement and opportunities for optimization. This can encompass internal communications, external messaging, marketing materials, and more.…