Insider Trading Appeals, Blockchain Solutions, and Law Enforcement in the Metaverse: This Week's Highlights
Summary:
The newsletter explores a former OpenSea employee's appeal against insider trading conviction, views of Polygon's co-founder on the Ethereum inscription spam issue, and Interpol's report on metaverse benefiting law enforcement. Donald Trump boosts NFT sales by offering free Ordinals. The surge in inscription production led to network crashes, and the metaverse could enhance police skills. The Bulletin also covers Trump’s NFT collection promotion and the record high in the Pudgy Penguins NFT price.
This week's bulletin delves into a former OpenSea worker's appeal against his insider trading conviction, the Polygon co-founder's stance on the Ethereum Virtual Machine (EVM) inscription spam problem, and the insight gained from an Interpol report about the beneficial use of metaverse for law enforcement units. Also, explore this week's Nifty News, with Donald Trump enhancing NFT sales by providing free Ordinals.
Convicted for wire fraud and money laundering in relation to insider trading, ex-OpenSea member Nathan Chastain is attempting to overturn his verdict. He and his legal team have submitted an appeal to the United States Court of Appeals arguing that his insider trading gains were not from "protected property," suggesting the information had no commercial worth and that not all confidential information is considered property.
The rise in inscription producers moving from Bitcoin to EVM-compatible platforms has caused a surge in inscription transactions, ultimately leading to network crashes as they strain under the increased load. This overwhelmed the Arbitrum network, taking it offline for over an hour on Dec. 15, 2023. Polygon co-founder Brendan Farmer, during his interview with Cointelegraph, suggested parallelized EVMs could provide a remedy by swiftly processing unrelated transactions and heightening blockchain throughput.
According to a report issued by Interpol's metaverse division, the metaverse could render help in multiple ways to law enforcement agencies, such as plying immersive police training. Virtual training simulations could offer a vivid representation of crime scenes, formulating strategies, and information dissemination, which could have a positive effect on frontline police skills.
On the Nifty News front, an attempt to enliven the sales of the contentious Mugshot Edition of Trump’s NFT collection has been made by offering Bitcoin Ordinals trading cards to consumers buying 100 or more NFTs. Also, the Pudgy Penguins NFT set has seen a record high on Jan. 17, with a base price of 19.05 Ether (ETH) equal to $47,000.
Don't miss COINTELEGRAPH's NFT STEEZ Podcast, and keep yourself updated with this rapidly changing space by joining us again next Wednesday for more information.
Published At
1/24/2024 11:00:00 PM
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