A small tool to view real-world ActivityPub objects as JSON! Enter a URL
or username from Mastodon or a similar service below, and we'll send a
request with
the right
Accept
header
to the server to view the underlying object.
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"content": "SUINAMIPAD<br /><a href=\"https://www.minds.com/search?f=top&t=all&q=SUINAMIPAD\" title=\"#SUINAMIPAD\" class=\"u-url hashtag\" target=\"_blank\">#SUINAMIPAD</a><br /><br />The best launch pad on <a href=\"https://www.minds.com/search?f=top&t=all&q=SUI\" title=\"#SUI\" class=\"u-url hashtag\" target=\"_blank\">#SUI</a>. Tools include, SUINAMI LAUNCH, SUINAMI LOCK, SUINAMI KYC & Audit, and MORE. All XP you earn on Crew3=$SUNAMI tokens that you can claim at launch",
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"published": "2023-04-04T22:03:01+00:00",
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"content": "SUINAMIPAD\n#SUINAMIPAD\n\nThe best launch pad on #SUI. Tools include, SUINAMI LAUNCH, SUINAMI LOCK, SUINAMI KYC & Audit, and MORE. All XP you earn on Crew3=$SUNAMI tokens that you can claim at launch",
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"content": "Police in Kazakhstan Arrest Gang Forcing IT Specialists to Run Crypto Farms<br /><br /><br /><br />Law enforcement in Kazakhstan detained members of a crime group suspected of forcing IT experts into operating underground facilities for cryptocurrency mining with threats and blackmail. The racketeers allegedly made up to half a million U.S. dollars a month from their business.<br /><br />Kazakhstan Busts Illegal Crypto Mining Organization, Detains Dozens<br /><br />Authorities in Kazakhstan have arrested a group of “criminally oriented individuals” and former convicts who pressured people savvy in information and crypto technology to run illegal installations for cryptocurrency production. Many of the apprehended 23 people had a background in debt-collecting and extortion, the country’s Interior Ministry said in a statement this week.<br /><br />The gang was making estimated profits in the range of $300,000 to 500,000 each month as a result of their unauthorized crypto mining activities, the department further revealed. During searches, police found a number of weapons, including pistols, ammunition and a Kalashnikov assault rifle. One of the gang members turned out to be an army serviceman.<br /><br />Investigators were able to establish that the undertaking was quite sophisticated, an indication that the group was not working entirely on its own, the news outlet Eurasianet noted in a report. Over the past few months, it has emerged that major mining operations in Kazakhstan were linked to high-ranking officials and powerful businessmen, added the online portal which covers developments in the region.<br /><br /><br /><br />Kazakhstan became a crypto mining hotspot after China cracked down on the industry in May, last year. Mining companies were attracted by its low electricity rates but their influx caused an increasing energy deficit. The government in Nur-Sultan responded by taking steps to reduce the consumption in the sector by cutting power supply to licensed mining enterprises on a number of occasions, increasing a tax levy, and going after illegal miners.<br /><br />This spring, the Financial Monitoring Agency discovered and shut down more than 100 underground mining farms. Commenting on the offensive, the agency remarked that among their operators were firms affiliated with Bolat Nazarbayev, brother of Kazakhstan’s ex-president, Nursultan Nazarbayev, and Alexander Klebanov who heads the Central Asian Electricity Corporation.<br /><br />Some of the other closed down facilities were linked to Kairat Sharipbayev, who is the former chairman of the national gas distribution company Qazaqgaz and is believed to be married to Nazarbayev’s eldest daughter, Dariga. Yerlan Nigmatulin, brother of the former speaker of the lower house of parliament, is also suspected of having profited from unauthorized mining, the report details.<br /><br />",
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"published": "2022-08-07T13:18:01+00:00",
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"content": "Police in Kazakhstan Arrest Gang Forcing IT Specialists to Run Crypto Farms\n\n\n\nLaw enforcement in Kazakhstan detained members of a crime group suspected of forcing IT experts into operating underground facilities for cryptocurrency mining with threats and blackmail. The racketeers allegedly made up to half a million U.S. dollars a month from their business.\n\nKazakhstan Busts Illegal Crypto Mining Organization, Detains Dozens\n\nAuthorities in Kazakhstan have arrested a group of “criminally oriented individuals” and former convicts who pressured people savvy in information and crypto technology to run illegal installations for cryptocurrency production. Many of the apprehended 23 people had a background in debt-collecting and extortion, the country’s Interior Ministry said in a statement this week.\n\nThe gang was making estimated profits in the range of $300,000 to 500,000 each month as a result of their unauthorized crypto mining activities, the department further revealed. During searches, police found a number of weapons, including pistols, ammunition and a Kalashnikov assault rifle. One of the gang members turned out to be an army serviceman.\n\nInvestigators were able to establish that the undertaking was quite sophisticated, an indication that the group was not working entirely on its own, the news outlet Eurasianet noted in a report. Over the past few months, it has emerged that major mining operations in Kazakhstan were linked to high-ranking officials and powerful businessmen, added the online portal which covers developments in the region.\n\n\n\nKazakhstan became a crypto mining hotspot after China cracked down on the industry in May, last year. Mining companies were attracted by its low electricity rates but their influx caused an increasing energy deficit. The government in Nur-Sultan responded by taking steps to reduce the consumption in the sector by cutting power supply to licensed mining enterprises on a number of occasions, increasing a tax levy, and going after illegal miners.\n\nThis spring, the Financial Monitoring Agency discovered and shut down more than 100 underground mining farms. Commenting on the offensive, the agency remarked that among their operators were firms affiliated with Bolat Nazarbayev, brother of Kazakhstan’s ex-president, Nursultan Nazarbayev, and Alexander Klebanov who heads the Central Asian Electricity Corporation.\n\nSome of the other closed down facilities were linked to Kairat Sharipbayev, who is the former chairman of the national gas distribution company Qazaqgaz and is believed to be married to Nazarbayev’s eldest daughter, Dariga. Yerlan Nigmatulin, brother of the former speaker of the lower house of parliament, is also suspected of having profited from unauthorized mining, the report details.\n\n",
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"content": "US Senators Introduce Bill to Give CFTC Exclusive Jurisdiction Over Digital Commodities Spot Market<br /><br /><br /><br />U.S. senators have introduced the “Digital Commodities Consumer Protection Act of 2022” to empower the Commodity Futures Trading Commission (CFTC) “with exclusive jurisdiction over the digital commodities spot market.”<br /><br />Digital Commodities Consumer Protection Act<br /><br />U.S. Senators Debbie Stabenow (D-MI), John Boozman (R-AR), Cory Booker (D-NJ), and John Thune (R-SD) introduced Wednesday the “Digital Commodities Consumer Protection Act of 2022.”<br /><br />The bipartisan bill aims to give the Commodity Futures Trading Commission (CFTC) “new tools and authorities to regulate digital commodities,” according to the announcement of the bill by the U.S. Senate Committee on Agriculture, Nutrition, and Forestry.<br /><br />Senator Stabenow commented:<br /><br />One in five Americans have used or traded digital assets — but these markets lack the transparency and accountability that they expect from our financial system. Too often, this puts Americans’ hard-earned money at risk.<br /><br />“That’s why we are closing regulatory gaps and requiring that these markets operate under straightforward rules that protect customers and keep our financial system safe,” she added.<br /><br />The overview of the legislation published by the committee states that the bill “closes regulatory gaps by requiring all digital commodity platforms — including trading facilities, brokers, dealers, and custodians — to register with the CFTC.” It also “authorizes the CFTC to impose user fees on digital commodity platforms to fully fund its oversight of the digital commodity market.” In addition, the bill “recognizes that other financial agencies have a role in regulating digital assets that are not commodities, but function more like securities or forms of payment.”<br /><br /><br /><br />Senator Boozman noted:<br /><br />Our bill will empower the CFTC with exclusive jurisdiction over the digital commodities spot market, which will lead to more safeguards for consumers, market integrity and innovation in the digital commodities space.<br /><br />“This legislation would provide the CFTC with the necessary visibility into the marketplace to respond to emerging risks and protect consumers, while also providing regulatory certainty to digital commodity platforms,” Senator Thune clarified.<br /><br />",
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"published": "2022-08-05T07:02:56+00:00",
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"content": "US Senators Introduce Bill to Give CFTC Exclusive Jurisdiction Over Digital Commodities Spot Market\n\n\n\nU.S. senators have introduced the “Digital Commodities Consumer Protection Act of 2022” to empower the Commodity Futures Trading Commission (CFTC) “with exclusive jurisdiction over the digital commodities spot market.”\n\nDigital Commodities Consumer Protection Act\n\nU.S. Senators Debbie Stabenow (D-MI), John Boozman (R-AR), Cory Booker (D-NJ), and John Thune (R-SD) introduced Wednesday the “Digital Commodities Consumer Protection Act of 2022.”\n\nThe bipartisan bill aims to give the Commodity Futures Trading Commission (CFTC) “new tools and authorities to regulate digital commodities,” according to the announcement of the bill by the U.S. Senate Committee on Agriculture, Nutrition, and Forestry.\n\nSenator Stabenow commented:\n\nOne in five Americans have used or traded digital assets — but these markets lack the transparency and accountability that they expect from our financial system. Too often, this puts Americans’ hard-earned money at risk.\n\n“That’s why we are closing regulatory gaps and requiring that these markets operate under straightforward rules that protect customers and keep our financial system safe,” she added.\n\nThe overview of the legislation published by the committee states that the bill “closes regulatory gaps by requiring all digital commodity platforms — including trading facilities, brokers, dealers, and custodians — to register with the CFTC.” It also “authorizes the CFTC to impose user fees on digital commodity platforms to fully fund its oversight of the digital commodity market.” In addition, the bill “recognizes that other financial agencies have a role in regulating digital assets that are not commodities, but function more like securities or forms of payment.”\n\n\n\nSenator Boozman noted:\n\nOur bill will empower the CFTC with exclusive jurisdiction over the digital commodities spot market, which will lead to more safeguards for consumers, market integrity and innovation in the digital commodities space.\n\n“This legislation would provide the CFTC with the necessary visibility into the marketplace to respond to emerging risks and protect consumers, while also providing regulatory certainty to digital commodity platforms,” Senator Thune clarified.\n\n",
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"content": "Coinbase Partners With World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies<br /><br /><br /><br />On August 4, the head of Coinbase Institutional, Brett Tejpaul, and the vice president of institutional product, Greg Tusar, announced that Coinbase has been selected by the financial giant Blackrock to provide the firm’s Aladdin platform access to cryptocurrencies.<br /><br />Blackrock Chooses Coinbase to Connect Aladdin Clients to Crypto<br /><br />Coinbase’s institutional arm will help the world’s largest asset manager, Blackrock (NYSE: BLK), provide Aladdin’s institutional clients with access to digital currencies. The company noted that Blackrock chose Coinbase due to the firm’s “scale, experience, and integrated product offering.” The publicly traded company Coinbase (Nasdaq: COIN) has a long history in the crypto space since it was founded in 2012 by Brian Armstrong and Fred Ehrsam.<br /><br /><br /><br />The New York-based multinational investment management corporation Blackrock is one of the largest financial institutions worldwide. Blackrock deals with roughly $10 trillion in assets under management (AUM) recorded in 2021. Coinbase considers the partnership with Blackrock and Aladdin a “milestone” for the crypto asset company. The Aladdin platform stands for the Asset, Liability, Debt, and Derivative Investment Network and it’s an investment management and trading platform designed specifically for Blackrock’s institutional clients.<br /><br />“Blackrock and Coinbase will continue to progress the platform integration and will roll out functionality in phases to interested clients,” Tejpaul and Tusar wrote on Thursday. In mid-June, Rick Rieder, chief investment officer (CIO) of global fixed income at Blackrock, explained that cryptocurrencies like bitcoin (BTC) are durable assets. In April, Blackrock launched a blockchain exchange-traded fund and Blackrock was named “a primary asset manager of USDC cash reserves” the same month.<br /><br /><br /><br />Blackrock Exec: ‘Institutional Clients Are Increasingly Interested in Gaining Exposure to Digital Asset Markets’<br /><br />Joseph Chalom, the global head of strategic ecosystem partnerships at Blackrock, remarked that Blackrock’s clientele has been gravitating toward digital currencies. “Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets,” Chalom said on Thursday. The Blackrock executive added:<br /><br />This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes.<br /><br />Following the Coinbase and Blackrock partnership announcement, COIN shares increased more than 16% higher during the morning trading sessions on Thursday (EST). However, COIN is down 72.46% in value from the stock’s all-time price high. Moreover, at the end of June, Goldman Sachs downgraded COIN to a sell rating.<br /><br />The news follows the alleged U.S. Securities and Exchange Commission (SEC) probe reported on July 25, and the company’s recent European expansion. In mid-June, Coinbase also revealed it had to cut back 18% of the firm’s workforce to “ensure [Coinbase stays] healthy during this economic downturn,” according to the company’s co-founder and CEO Brian Armstrong.<br /><br />",
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"published": "2022-08-04T22:18:44+00:00",
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"content": "Coinbase Partners With World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies\n\n\n\nOn August 4, the head of Coinbase Institutional, Brett Tejpaul, and the vice president of institutional product, Greg Tusar, announced that Coinbase has been selected by the financial giant Blackrock to provide the firm’s Aladdin platform access to cryptocurrencies.\n\nBlackrock Chooses Coinbase to Connect Aladdin Clients to Crypto\n\nCoinbase’s institutional arm will help the world’s largest asset manager, Blackrock (NYSE: BLK), provide Aladdin’s institutional clients with access to digital currencies. The company noted that Blackrock chose Coinbase due to the firm’s “scale, experience, and integrated product offering.” The publicly traded company Coinbase (Nasdaq: COIN) has a long history in the crypto space since it was founded in 2012 by Brian Armstrong and Fred Ehrsam.\n\n\n\nThe New York-based multinational investment management corporation Blackrock is one of the largest financial institutions worldwide. Blackrock deals with roughly $10 trillion in assets under management (AUM) recorded in 2021. Coinbase considers the partnership with Blackrock and Aladdin a “milestone” for the crypto asset company. The Aladdin platform stands for the Asset, Liability, Debt, and Derivative Investment Network and it’s an investment management and trading platform designed specifically for Blackrock’s institutional clients.\n\n“Blackrock and Coinbase will continue to progress the platform integration and will roll out functionality in phases to interested clients,” Tejpaul and Tusar wrote on Thursday. In mid-June, Rick Rieder, chief investment officer (CIO) of global fixed income at Blackrock, explained that cryptocurrencies like bitcoin (BTC) are durable assets. In April, Blackrock launched a blockchain exchange-traded fund and Blackrock was named “a primary asset manager of USDC cash reserves” the same month.\n\n\n\nBlackrock Exec: ‘Institutional Clients Are Increasingly Interested in Gaining Exposure to Digital Asset Markets’\n\nJoseph Chalom, the global head of strategic ecosystem partnerships at Blackrock, remarked that Blackrock’s clientele has been gravitating toward digital currencies. “Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets,” Chalom said on Thursday. The Blackrock executive added:\n\nThis connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes.\n\nFollowing the Coinbase and Blackrock partnership announcement, COIN shares increased more than 16% higher during the morning trading sessions on Thursday (EST). However, COIN is down 72.46% in value from the stock’s all-time price high. Moreover, at the end of June, Goldman Sachs downgraded COIN to a sell rating.\n\nThe news follows the alleged U.S. Securities and Exchange Commission (SEC) probe reported on July 25, and the company’s recent European expansion. In mid-June, Coinbase also revealed it had to cut back 18% of the firm’s workforce to “ensure [Coinbase stays] healthy during this economic downturn,” according to the company’s co-founder and CEO Brian Armstrong.\n\n",
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"content": "ENS Domain Registrations Skyrocketed Last Month, Total Names Created Nears 2 Million<br /><br /><br /><br />The number of Ethereum Name Service (ENS) domains is nearing the two million mark as 1,888,209 ENS names have been etched into the Ethereum blockchain to date. The project recently detailed that July saw the largest monthly rise in revenue scoring 5,400 ether worth roughly $2.48 million during the course of the month.<br /><br />ENS Registrations Spiked Last Month with 378K Names Etched Into the Ethereum Blockchain<br /><br />ENS names are nearing the two million mark this week as registrations have steadily risen during the few months. Data from Dune Analytics indicates that after 67,095 ENS registrations in February, the following month the number kicked up to 85,272 ENS registrations.<br /><br />May saw a significant spike reaching 365,652 registrations or 328% higher than the month prior. The month of June saw a much lower count of ENS registrations as statistics show 122,327 names were registered that month. July, however, was an entirely different story as 378,804 ENS registrations were logged during the 31 days.<br /><br />On the first of the month, 1.86 million names have been recorded on the Ethereum blockchain and today, 1,888,209 ENS names are etched into the chain. The official ENS Twitter account tweeted about July’s milestones and noted that the project saw $6.8 million in protocol revenue that will all be directed to the project’s DAO.<br /><br />Total ENS names created as of August 3, 2022, according to Dune Analytics’ metrics.<br /><br />The protocol saw 5,400 ETH in revenue the “highest” month ever, according to the official Twitter account. ENS domain names are similar to the Internet’s Domain Name Service (DNS), but the project’s architecture adds an extensible naming system built on top of the Ethereum blockchain. Like DNS, Ethereum Name Service uses dot-separated hierarchical names (domains) and owners can leverage subdomains as well.<br /><br />ENS names can also act as an Ethereum address and other cryptocurrency addresses, but instead of a long string of alphanumeric characters, it can be a machine-readable name like bob.eth. There are other blockchain projects that operate name services on alternative chains like Bonfida’s Solana Name Service and Terra once had a popular name service platform called TNS before the Terra blockchain project imploded.<br /><br />",
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"published": "2022-08-04T06:26:53+00:00",
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"content": "ENS Domain Registrations Skyrocketed Last Month, Total Names Created Nears 2 Million\n\n\n\nThe number of Ethereum Name Service (ENS) domains is nearing the two million mark as 1,888,209 ENS names have been etched into the Ethereum blockchain to date. The project recently detailed that July saw the largest monthly rise in revenue scoring 5,400 ether worth roughly $2.48 million during the course of the month.\n\nENS Registrations Spiked Last Month with 378K Names Etched Into the Ethereum Blockchain\n\nENS names are nearing the two million mark this week as registrations have steadily risen during the few months. Data from Dune Analytics indicates that after 67,095 ENS registrations in February, the following month the number kicked up to 85,272 ENS registrations.\n\nMay saw a significant spike reaching 365,652 registrations or 328% higher than the month prior. The month of June saw a much lower count of ENS registrations as statistics show 122,327 names were registered that month. July, however, was an entirely different story as 378,804 ENS registrations were logged during the 31 days.\n\nOn the first of the month, 1.86 million names have been recorded on the Ethereum blockchain and today, 1,888,209 ENS names are etched into the chain. The official ENS Twitter account tweeted about July’s milestones and noted that the project saw $6.8 million in protocol revenue that will all be directed to the project’s DAO.\n\nTotal ENS names created as of August 3, 2022, according to Dune Analytics’ metrics.\n\nThe protocol saw 5,400 ETH in revenue the “highest” month ever, according to the official Twitter account. ENS domain names are similar to the Internet’s Domain Name Service (DNS), but the project’s architecture adds an extensible naming system built on top of the Ethereum blockchain. Like DNS, Ethereum Name Service uses dot-separated hierarchical names (domains) and owners can leverage subdomains as well.\n\nENS names can also act as an Ethereum address and other cryptocurrency addresses, but instead of a long string of alphanumeric characters, it can be a machine-readable name like bob.eth. There are other blockchain projects that operate name services on alternative chains like Bonfida’s Solana Name Service and Terra once had a popular name service platform called TNS before the Terra blockchain project imploded.\n\n",
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"content": "Europe’s Securities Regulator ESMA Seeks to Obtain Crypto Transaction Data<br /><br /><br /><br />The European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in regards to crypto-related transactions. The agency is now looking to hire suppliers of trading data, as monitoring major participants in the market falls under its responsibilities.<br /><br />ESMA Launches Public Procurement for Providers of Crypto Trading Data<br /><br />The securities watchdog of the European Union, ESMA, is preparing to increase scrutiny on transactions involving cryptocurrencies, a public tender has indicated. On Tuesday, the authority launched a procurement procedure for suppliers of trading data on crypto transactions including spot trades and derivatives, Reuters reported.<br /><br />The move comes after EU institutions agreed on a draft proposal to comprehensively regulate the digital asset space known as the Markets in Crypto Assets (MiCA) package. While under the legislation smaller companies will be licensed by national regulators, ESMA will be in charge of monitoring larger players in the “Wild West” sector, as some officials have described it. In a notice, the regulator detailed:<br /><br />The coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape.<br /><br /><br /><br />The report further notes that regulatory bodies around the world use transaction data to identify market abuses, find out who is on each side of a transaction, and look for risky build-ups of positions which could undermine the markets.<br /><br />ESMA’s announcement emphasized the data should be available daily. The watchdog also wants to have access to order books where it will be able to see spreads and liquidity across exchanges and trading pairs, in both fiat and cryptocurrency. The contract for these services should not be worth more than €100,000 ($101,000).<br /><br />The MiCA legislation designates the European Securities and Markets Authority as a leading cryptocurrency watchdog in the 27-strong bloc of nations with certain powers greater than those of national regulators. ESMA will also have the responsibility to determine the scope of the law regarding various crypto assets.<br /><br />",
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"published": "2022-08-03T18:35:28+00:00",
"source": {
"content": "Europe’s Securities Regulator ESMA Seeks to Obtain Crypto Transaction Data\n\n\n\nThe European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in regards to crypto-related transactions. The agency is now looking to hire suppliers of trading data, as monitoring major participants in the market falls under its responsibilities.\n\nESMA Launches Public Procurement for Providers of Crypto Trading Data\n\nThe securities watchdog of the European Union, ESMA, is preparing to increase scrutiny on transactions involving cryptocurrencies, a public tender has indicated. On Tuesday, the authority launched a procurement procedure for suppliers of trading data on crypto transactions including spot trades and derivatives, Reuters reported.\n\nThe move comes after EU institutions agreed on a draft proposal to comprehensively regulate the digital asset space known as the Markets in Crypto Assets (MiCA) package. While under the legislation smaller companies will be licensed by national regulators, ESMA will be in charge of monitoring larger players in the “Wild West” sector, as some officials have described it. In a notice, the regulator detailed:\n\nThe coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape.\n\n\n\nThe report further notes that regulatory bodies around the world use transaction data to identify market abuses, find out who is on each side of a transaction, and look for risky build-ups of positions which could undermine the markets.\n\nESMA’s announcement emphasized the data should be available daily. The watchdog also wants to have access to order books where it will be able to see spreads and liquidity across exchanges and trading pairs, in both fiat and cryptocurrency. The contract for these services should not be worth more than €100,000 ($101,000).\n\nThe MiCA legislation designates the European Securities and Markets Authority as a leading cryptocurrency watchdog in the 27-strong bloc of nations with certain powers greater than those of national regulators. ESMA will also have the responsibility to determine the scope of the law regarding various crypto assets.\n\n",
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"content": "Robinhood Crypto Fined $30 Million by New York Regulator for 'Significant Failures' in Multiple Areas<br /><br /><br /><br />The New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.”<br /><br />Robinhood Crypto Settles With the DFS<br /><br />The New York State Department of Financial Services (DFS) announced Tuesday that Robinhood Crypto LLC (RHC) will pay a $30 million penalty to New York State for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.”<br /><br />The failures resulted in violations of the department’s Virtual Currency Regulation, Money Transmitter Regulation, Transaction Monitoring Regulation, and Cybersecurity Regulation, the DFS detailed.<br /><br />Superintendent of Financial Services Adrienne A. Harris commented:<br /><br />As its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance — a failure that resulted in significant violations of the Department’s anti-money laundering and cybersecurity regulations.<br /><br />“All of these deficiencies resulted from what the Department found were significant shortcomings in the management and oversight of RHC’s compliance programs, including a failure to foster and maintain an adequate culture of compliance,” the announcement continues.<br /><br />Besides the $30 million penalty, Robinhood Crypto will be required to retain an independent consultant that will perform a comprehensive evaluation of its compliance with the DFS regulations.<br /><br /><br /><br />The New York State regulator approved Robinhood Crypto’s applications for a virtual currency license and a money transmission license in January 2019, stating at the time:<br /><br />DFS has authorized Robinhood Crypto to offer services for buying, selling, and storing seven virtual currencies, including bitcoin, ether, bitcoin cash, and litecoin.<br /><br />Robinhood offers commission-free crypto investing. The platform currently supports the buying, selling, and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), chainlink (LINK), compound (COMP), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), polygon (MATIC), shiba inu (SHIB), solana (SOL), and uniswap (UNI).<br /><br />",
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"content": "Robinhood Crypto Fined $30 Million by New York Regulator for 'Significant Failures' in Multiple Areas\n\n\n\nThe New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.”\n\nRobinhood Crypto Settles With the DFS\n\nThe New York State Department of Financial Services (DFS) announced Tuesday that Robinhood Crypto LLC (RHC) will pay a $30 million penalty to New York State for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.”\n\nThe failures resulted in violations of the department’s Virtual Currency Regulation, Money Transmitter Regulation, Transaction Monitoring Regulation, and Cybersecurity Regulation, the DFS detailed.\n\nSuperintendent of Financial Services Adrienne A. Harris commented:\n\nAs its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance — a failure that resulted in significant violations of the Department’s anti-money laundering and cybersecurity regulations.\n\n“All of these deficiencies resulted from what the Department found were significant shortcomings in the management and oversight of RHC’s compliance programs, including a failure to foster and maintain an adequate culture of compliance,” the announcement continues.\n\nBesides the $30 million penalty, Robinhood Crypto will be required to retain an independent consultant that will perform a comprehensive evaluation of its compliance with the DFS regulations.\n\n\n\nThe New York State regulator approved Robinhood Crypto’s applications for a virtual currency license and a money transmission license in January 2019, stating at the time:\n\nDFS has authorized Robinhood Crypto to offer services for buying, selling, and storing seven virtual currencies, including bitcoin, ether, bitcoin cash, and litecoin.\n\nRobinhood offers commission-free crypto investing. The platform currently supports the buying, selling, and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), chainlink (LINK), compound (COMP), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), polygon (MATIC), shiba inu (SHIB), solana (SOL), and uniswap (UNI).\n\n",
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"content": "<br /><br />Pakistani Politician Imran Khan's Instagram Account Used to Promote Crypto Giveaway Scam<br /><br /><br /><br />Imran Khan, a former prime minister of Pakistan and current chairman of one of the largest political parties in the country, has confirmed that his Instagram account was compromised and hackers used it to promote a cryptocurrency giveaway scam.<br /><br />Imran Khan’s Instagram Account Hacked, Used to Promote Crypto Scam<br /><br />Imran Khan, a former Pakistani prime minister and current chairman of the Pakistan Tehreek-e-Insaf (PTI), one of the largest political parties in the country, reportedly confirmed that his Instagram account was hacked Monday.<br /><br />He told Dawn publication that his account was soon recovered with the help of Meta, owner of Facebook and Instagram. He explained that he himself monitors the account, which has 7.4 million followers, noting that the hackers posted a cryptocurrency link and a screenshot of a tweet from Tesla CEO Elon Musk to the account.<br /><br />The cryptocurrency link posted on the politician’s account leads to a crypto giveaway site featuring Musk and his company Spacex. Scammers claim to be giving away bitcoin (BTC), ether (ETH), dogecoin (DOGE), and litecoin (LTC).<br /><br /><br /><br />Cryptocurrency giveaway scams are very common on popular social media platforms, including Youtube and Twitter. Many of them feature famous people and companies, such as Musk, Tesla, Spacex, Apple, Tim cook, Steve Wozniak, Warren Buffett, and Bill Gates. They sometimes feature executives of crypto companies, including Coinbase CEO Brian Armstrong.<br /><br />In July 2020, Wozniak sued Youtube and Google for promoting bitcoin giveaway scams using his image and name. However, he subsequently lost the lawsuit. “Youtube and its parent, Google LLC, are protected by the federal law that shields internet platforms from responsibility for content posted by users,” the judge on the case ruled.<br /><br />In July, the British Army‘s official Youtube and Twitter accounts were compromised and hackers similarly used them to promote their crypto giveaway scams.<br /><br />In an effort to fight scams, several crypto firms, including Binance and Circle, launched a crypto scam reporting platform in May to allow “anyone in the crypto economy to warn others about scams, hacks, or other fraudulent activity as they encounter it.”<br /><br />",
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"content": "\n\nPakistani Politician Imran Khan's Instagram Account Used to Promote Crypto Giveaway Scam\n\n\n\nImran Khan, a former prime minister of Pakistan and current chairman of one of the largest political parties in the country, has confirmed that his Instagram account was compromised and hackers used it to promote a cryptocurrency giveaway scam.\n\nImran Khan’s Instagram Account Hacked, Used to Promote Crypto Scam\n\nImran Khan, a former Pakistani prime minister and current chairman of the Pakistan Tehreek-e-Insaf (PTI), one of the largest political parties in the country, reportedly confirmed that his Instagram account was hacked Monday.\n\nHe told Dawn publication that his account was soon recovered with the help of Meta, owner of Facebook and Instagram. He explained that he himself monitors the account, which has 7.4 million followers, noting that the hackers posted a cryptocurrency link and a screenshot of a tweet from Tesla CEO Elon Musk to the account.\n\nThe cryptocurrency link posted on the politician’s account leads to a crypto giveaway site featuring Musk and his company Spacex. Scammers claim to be giving away bitcoin (BTC), ether (ETH), dogecoin (DOGE), and litecoin (LTC).\n\n\n\nCryptocurrency giveaway scams are very common on popular social media platforms, including Youtube and Twitter. Many of them feature famous people and companies, such as Musk, Tesla, Spacex, Apple, Tim cook, Steve Wozniak, Warren Buffett, and Bill Gates. They sometimes feature executives of crypto companies, including Coinbase CEO Brian Armstrong.\n\nIn July 2020, Wozniak sued Youtube and Google for promoting bitcoin giveaway scams using his image and name. However, he subsequently lost the lawsuit. “Youtube and its parent, Google LLC, are protected by the federal law that shields internet platforms from responsibility for content posted by users,” the judge on the case ruled.\n\nIn July, the British Army‘s official Youtube and Twitter accounts were compromised and hackers similarly used them to promote their crypto giveaway scams.\n\nIn an effort to fight scams, several crypto firms, including Binance and Circle, launched a crypto scam reporting platform in May to allow “anyone in the crypto economy to warn others about scams, hacks, or other fraudulent activity as they encounter it.”\n\n",
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"content": "Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700<br /><br /><br /><br />New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that.<br /><br />Authorities in Israel Go After Cash Purchases, Introduce Lower Limits<br /><br />Payments of large sums of money in cash and bank checks will be further restricted in Israel by amendments set to take effect on Aug. 1. Tax officials want to further reduce the circulation of cash in the country, thus hoping to curb illegal activities such as the laundering of illicit funds and tax non-compliance, the Jerusalem Post reported.<br /><br />Under the new legislation, companies will be required to use non-cash methods for any transaction exceeding 6,000 shekels ($1,700), a notable decrease from the previous ceiling of 11,000 shekels ($3,200). The cash limit for private individuals who are not registered as business owners will be 15,000 shekels (close to $4,400).<br /><br />Reducing the use of cash is the main purpose of the law, according to Tamar Bracha, tasked with executing the rules on behalf of the Israel Tax Authority. Quoted by the Media Line news outlet, the official elaborated:<br /><br />The goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out.<br /><br />However, an attorney representing clients in an appeal against the law filed in 2018, when it was first adopted, insists that the main problem is that the legislation is not efficient. Uri Goldman referred to data showing that since the law’s initial introduction, the amount of cash has actually increased. Pointing to another of its downsides, the legal expert further explained:<br /><br />When the bill passed there were over a million citizens without bank accounts in Israel. The law would prevent them from conducting any business and would, practically, turn 10% of the population into criminals.<br /><br />An exemption for trading with Palestinians from the West Bank and charities active in the ultra-Orthodox communities has also sparked controversy. Deals with large amounts of cash will be allowed in these cases, provided they are thoroughly reported to the tax administration. Goldman thinks this is unfair to the rest of the society.<br /><br /><br /><br />Finance Ministry Also Wants to Limit Private Cash Holdings<br /><br />In its original draft, first proposed in 2015, the law also featured a provision limiting the private holding of large sums of cash to 50,000 shekels ($14,500). Although it was dropped at the time, Israel’s Ministry of Finance now plans to reintroduce it and let the parliament decide whether to adopt it after the upcoming elections.<br /><br />Uri Goldman also believes that the authorities should at least allow people to declare their cash and deposit it to a bank account. That idea was suggested during preliminary discussions on the legislation as well, but never approved. Otherwise, cash will remain in circulation even if not used like before, he noted.<br /><br />Meanwhile, the Bank of Israel has been exploring the option to issue a digital shekel, another form of the national fiat which is supposed to have cash-like features. The majority of the respondents in public consultations carried out by the monetary authority have been supportive of the plan, the results published in May revealed.<br /><br />",
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"content": "Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700\n\n\n\nNew legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that.\n\nAuthorities in Israel Go After Cash Purchases, Introduce Lower Limits\n\nPayments of large sums of money in cash and bank checks will be further restricted in Israel by amendments set to take effect on Aug. 1. Tax officials want to further reduce the circulation of cash in the country, thus hoping to curb illegal activities such as the laundering of illicit funds and tax non-compliance, the Jerusalem Post reported.\n\nUnder the new legislation, companies will be required to use non-cash methods for any transaction exceeding 6,000 shekels ($1,700), a notable decrease from the previous ceiling of 11,000 shekels ($3,200). The cash limit for private individuals who are not registered as business owners will be 15,000 shekels (close to $4,400).\n\nReducing the use of cash is the main purpose of the law, according to Tamar Bracha, tasked with executing the rules on behalf of the Israel Tax Authority. Quoted by the Media Line news outlet, the official elaborated:\n\nThe goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out.\n\nHowever, an attorney representing clients in an appeal against the law filed in 2018, when it was first adopted, insists that the main problem is that the legislation is not efficient. Uri Goldman referred to data showing that since the law’s initial introduction, the amount of cash has actually increased. Pointing to another of its downsides, the legal expert further explained:\n\nWhen the bill passed there were over a million citizens without bank accounts in Israel. The law would prevent them from conducting any business and would, practically, turn 10% of the population into criminals.\n\nAn exemption for trading with Palestinians from the West Bank and charities active in the ultra-Orthodox communities has also sparked controversy. Deals with large amounts of cash will be allowed in these cases, provided they are thoroughly reported to the tax administration. Goldman thinks this is unfair to the rest of the society.\n\n\n\nFinance Ministry Also Wants to Limit Private Cash Holdings\n\nIn its original draft, first proposed in 2015, the law also featured a provision limiting the private holding of large sums of cash to 50,000 shekels ($14,500). Although it was dropped at the time, Israel’s Ministry of Finance now plans to reintroduce it and let the parliament decide whether to adopt it after the upcoming elections.\n\nUri Goldman also believes that the authorities should at least allow people to declare their cash and deposit it to a bank account. That idea was suggested during preliminary discussions on the legislation as well, but never approved. Otherwise, cash will remain in circulation even if not used like before, he noted.\n\nMeanwhile, the Bank of Israel has been exploring the option to issue a digital shekel, another form of the national fiat which is supposed to have cash-like features. The majority of the respondents in public consultations carried out by the monetary authority have been supportive of the plan, the results published in May revealed.\n\n",
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"content": "Binance to Sell NFT Tickets for Major Italian Soccer Club Lazio<br /><br /><br /><br />Crypto exchange Binance will be offering NFT tickets for the games of one of Italy’s leading soccer teams, Lazio, during the upcoming season in the Italian Serie A championship. Supporters of Lazio will be able to use the tokens to also take advantage of various discounts.<br /><br />Lazio Fans to Buy NFT Tickets From Cryptocurrency Exchange Binance<br /><br />Binance, the world’s leading crypto trading platform, announced it’s launching sales of NFT tickets for the matches of the Italian football club S.S. Lazio during the 2022/23 season. Buyers will use the non-fungible tokens (NFTs) to visit the legendary Stadio Olimpico, Rome’s largest sports facility, and watch the home games of their favorite team.<br /><br />Besides access to the stadium, the ticket owners will be able to benefit from many discounts, including 10% on any product sold in the Lazio store and 20% on the tickets for the club’s matches in Europa League, the annual competition organized by the Union of European Football Associations (UEFA).<br /><br />Besides the discounts, supporters who purchase the digital tickets will also have the opportunity to win fan tokens and gain access to a number of exclusive events. To buy a ticket, Lazio supporters will have to open an account with Binance and go to the Binance Fan Token Platform.<br /><br /><br /><br />The digital asset exchange argued that the NFT tickets will help solve some well-known issues with the traditional ticket distribution system. For example, the non-fungible tokens allow to avoid double ticketing, when a single seat at the stadium is sold twice, and prevent forgery of tickets and problems related to loss or damage.<br /><br />Binance is Lazio’s main shirt sponsor. The €30-million ($30.5 million) sponsorship deal was announced last fall. The two sides reached an agreement for an initial period of two years with the option to extend it for a third year.<br /><br />The NFT-ticketing initiative comes after in June Binance entered into an exclusive, multi-year NFT partnership with Portuguese soccer superstar Cristiano Ronaldo. The famous footballer plans to release several NFT collections to provide followers with an opportunity to “own an iconic piece of sports history.”<br /><br />",
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"published": "2022-07-30T06:39:24+00:00",
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"content": "Binance to Sell NFT Tickets for Major Italian Soccer Club Lazio\n\n\n\nCrypto exchange Binance will be offering NFT tickets for the games of one of Italy’s leading soccer teams, Lazio, during the upcoming season in the Italian Serie A championship. Supporters of Lazio will be able to use the tokens to also take advantage of various discounts.\n\nLazio Fans to Buy NFT Tickets From Cryptocurrency Exchange Binance\n\nBinance, the world’s leading crypto trading platform, announced it’s launching sales of NFT tickets for the matches of the Italian football club S.S. Lazio during the 2022/23 season. Buyers will use the non-fungible tokens (NFTs) to visit the legendary Stadio Olimpico, Rome’s largest sports facility, and watch the home games of their favorite team.\n\nBesides access to the stadium, the ticket owners will be able to benefit from many discounts, including 10% on any product sold in the Lazio store and 20% on the tickets for the club’s matches in Europa League, the annual competition organized by the Union of European Football Associations (UEFA).\n\nBesides the discounts, supporters who purchase the digital tickets will also have the opportunity to win fan tokens and gain access to a number of exclusive events. To buy a ticket, Lazio supporters will have to open an account with Binance and go to the Binance Fan Token Platform.\n\n\n\nThe digital asset exchange argued that the NFT tickets will help solve some well-known issues with the traditional ticket distribution system. For example, the non-fungible tokens allow to avoid double ticketing, when a single seat at the stadium is sold twice, and prevent forgery of tickets and problems related to loss or damage.\n\nBinance is Lazio’s main shirt sponsor. The €30-million ($30.5 million) sponsorship deal was announced last fall. The two sides reached an agreement for an initial period of two years with the option to extend it for a third year.\n\nThe NFT-ticketing initiative comes after in June Binance entered into an exclusive, multi-year NFT partnership with Portuguese soccer superstar Cristiano Ronaldo. The famous footballer plans to release several NFT collections to provide followers with an opportunity to “own an iconic piece of sports history.”\n\n",
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"content": "Ripple's Counsel Urges US Lawmakers to Urgently Pass 'Sensible' Crypto Legislation Amid SEC Lawsuit Over XRP<br /><br /><br /><br />Ripple’s general counsel has urged U.S. lawmakers to pass “sensible crypto legislation” amid a Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation,” he opined.<br /><br />Ripple’s Counsel Calls for ‘Sensible’ Crypto Regulation<br /><br />Stuart Alderoty, general counsel for Ripple, stressed the importance of sensible cryptocurrency legislation in an opinion piece published Wednesday.<br /><br />Referencing a House Financial Services Subcommittee hearing on Investor Protection where Congressman Brad Sherman (D-CA) pushed the SEC to go after major cryptocurrency exchanges that traded XRP, Alderoty emphasized:<br /><br />Sherman’s off-base remarks underscore the urgent need for sensible crypto legislation from Washington.<br /><br />The SEC sued Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen in December 2020, alleging that the XRP sale was an unregistered securities offering. Ripple disagreed with the SEC and has since been fighting a legal battle with the securities regulator. Recently, Garlinghouse discussed possible outcomes of the lawsuit.<br /><br />Alderoty quoted Rep. Sherman stating that “the fact remains” that “XRP … clearly is a security.” However, the Ripple counsel argued that “the real fact” is:<br /><br />The filing of a lawsuit determines nothing.<br /><br />Noting that the lawmaker is a Harvard-trained lawyer, Alderoty alleged: “He knows that the SEC can’t determine XRP to be a security. He knows that no country in the world has determined XRP to be a security. He knows the issue needs to be decided in the court.” Whether XRP is a security or not has yet to be determined, the Ripple counsel explained, adding that “when it is made, it will be made by the court.”<br /><br /><br /><br />Alderoty has been criticizing the SEC for its approach to regulating the crypto industry, particularly how the securities watchdog handles the lawsuit against Ripple and its executives over the sale of XRP.<br /><br />He tweeted Wednesday:<br /><br />Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation.<br /><br />",
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"content": "Ripple's Counsel Urges US Lawmakers to Urgently Pass 'Sensible' Crypto Legislation Amid SEC Lawsuit Over XRP\n\n\n\nRipple’s general counsel has urged U.S. lawmakers to pass “sensible crypto legislation” amid a Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation,” he opined.\n\nRipple’s Counsel Calls for ‘Sensible’ Crypto Regulation\n\nStuart Alderoty, general counsel for Ripple, stressed the importance of sensible cryptocurrency legislation in an opinion piece published Wednesday.\n\nReferencing a House Financial Services Subcommittee hearing on Investor Protection where Congressman Brad Sherman (D-CA) pushed the SEC to go after major cryptocurrency exchanges that traded XRP, Alderoty emphasized:\n\nSherman’s off-base remarks underscore the urgent need for sensible crypto legislation from Washington.\n\nThe SEC sued Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen in December 2020, alleging that the XRP sale was an unregistered securities offering. Ripple disagreed with the SEC and has since been fighting a legal battle with the securities regulator. Recently, Garlinghouse discussed possible outcomes of the lawsuit.\n\nAlderoty quoted Rep. Sherman stating that “the fact remains” that “XRP … clearly is a security.” However, the Ripple counsel argued that “the real fact” is:\n\nThe filing of a lawsuit determines nothing.\n\nNoting that the lawmaker is a Harvard-trained lawyer, Alderoty alleged: “He knows that the SEC can’t determine XRP to be a security. He knows that no country in the world has determined XRP to be a security. He knows the issue needs to be decided in the court.” Whether XRP is a security or not has yet to be determined, the Ripple counsel explained, adding that “when it is made, it will be made by the court.”\n\n\n\nAlderoty has been criticizing the SEC for its approach to regulating the crypto industry, particularly how the securities watchdog handles the lawsuit against Ripple and its executives over the sale of XRP.\n\nHe tweeted Wednesday:\n\nRather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation.\n\n",
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"content": "Meta's Metaverse Is Still Not Profitable: Reality Labs Unit Registers $2.8 Billion Losses During Q2<br /><br /><br /><br />Meta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion, mainly due to research and development costs associated with metaverse and VR products.<br /><br />Meta’s Metaverse Push Is Making It Lose Funds<br /><br />Meta, one of the first companies that announced a pivot from social media to the metaverse, is battling to make its new focus profitable. In its most recent earnings call, which reports on the economic performance of the company during Q2, the company announced that its metaverse division, the Reality Labs unit, had lost more than $2.8 billion dollars in the mentioned period, even when it manages to register more than $400 million in sales.<br /><br />Reality Labs is in charge of the metaverse strategy of the company, including the development of virtual reality and augmented reality products and the research needed to build them. The monetization of Meta’s metaverse initiatives is still a work in progress, with its flagship VR app, Horizon Worlds, opening its monetization options to users, with the company keeping up to 50% of each sale.<br /><br /><br /><br />Negative Predictions<br /><br />Meta’s outlook for Q3 2022 is also negative. The company blamed this prediction on the:<br /><br />continuation of the weak advertising demand environment we experienced throughout the second quarter, which we believe is being driven by broader macroeconomic uncertainty.<br /><br />Mark Zuckerberg, CEO of Meta, also hinted at the possibility of layoffs during the next year, stating that “this is a period that demands more intensity and I expect us to get more done with fewer resources.” The company reported having increased its workforce by 32% since last year, with its headcount reaching 83,553.<br /><br />In July, Zuckerberg made remarks on slowing the hiring strategy of the company and raising performance standards for current Meta employees.<br /><br />On the metaverse side, the company also projected that Reality Labs would continue losing money in the next quarter. However, Zuckerberg has referred to this metaverse pivot as a long-term group of investments, as he believes that the metaverse will scale in time to house billions of users who all will be making transactions in the metaverse, with each one of these transactions being monetized by the company.<br /><br />",
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"content": "Meta's Metaverse Is Still Not Profitable: Reality Labs Unit Registers $2.8 Billion Losses During Q2\n\n\n\nMeta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion, mainly due to research and development costs associated with metaverse and VR products.\n\nMeta’s Metaverse Push Is Making It Lose Funds\n\nMeta, one of the first companies that announced a pivot from social media to the metaverse, is battling to make its new focus profitable. In its most recent earnings call, which reports on the economic performance of the company during Q2, the company announced that its metaverse division, the Reality Labs unit, had lost more than $2.8 billion dollars in the mentioned period, even when it manages to register more than $400 million in sales.\n\nReality Labs is in charge of the metaverse strategy of the company, including the development of virtual reality and augmented reality products and the research needed to build them. The monetization of Meta’s metaverse initiatives is still a work in progress, with its flagship VR app, Horizon Worlds, opening its monetization options to users, with the company keeping up to 50% of each sale.\n\n\n\nNegative Predictions\n\nMeta’s outlook for Q3 2022 is also negative. The company blamed this prediction on the:\n\ncontinuation of the weak advertising demand environment we experienced throughout the second quarter, which we believe is being driven by broader macroeconomic uncertainty.\n\nMark Zuckerberg, CEO of Meta, also hinted at the possibility of layoffs during the next year, stating that “this is a period that demands more intensity and I expect us to get more done with fewer resources.” The company reported having increased its workforce by 32% since last year, with its headcount reaching 83,553.\n\nIn July, Zuckerberg made remarks on slowing the hiring strategy of the company and raising performance standards for current Meta employees.\n\nOn the metaverse side, the company also projected that Reality Labs would continue losing money in the next quarter. However, Zuckerberg has referred to this metaverse pivot as a long-term group of investments, as he believes that the metaverse will scale in time to house billions of users who all will be making transactions in the metaverse, with each one of these transactions being monetized by the company.\n\n",
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"content": "The Web 3․0 Winter Is Coming: Bucking the Trend With Karmaverse Zombie<br /><br /><br /><br />SPONSORED<br /><br />A crypto winter has come. With BitCoin (BTC) falling over 70% from its all time high along with Ethereum, and a steady drumbeat of news involving crypto-related funds, companies, and projects collapsing, it is clear that the last round of cryptomania has come to a close. Even juggernauts of GameFi such as Axie Infinity (and its AXS coin) have seen prices tumble; without an endless flow of new money, only those with sustainable business models will survive.<br /><br /> <br /><br />Against the Current: Karmaverse Zombie<br /><br />In this kind of bear market, GameFi faces unprecedented headwinds and negative sentiment, but there are also new projects full of opportunities. However, Yield Guild Games SEA (YGG SEA) has moved thousands of players from Axie Infinity to Karmaverse Zombie, with other leading guilds including Path DAO, Ola GG, and Avacado also showing their confidence in the future of the project by establishing themselves and investing their time and effort.<br /><br /><br /><br />Investment Backing for Stability<br /><br />Karmaverse Zombie is the first blockchain game in the Karmaverse, and the first step into a larger ecosystem that will allow its tokens and NFTs to be used across a variety of games. This means its potential extends far beyond the current downturn, and is part of a long-term vision shared by investors including A&T Capital, Polygon Studios, OKX, and others. This backing provides stability and demonstrates the commitment to the game and the larger metaverse it will be a part of by its many stakeholders.<br /><br /><br /><br />Over 10K New Players Every Month<br /><br />This design decision has helped Karmaverse Zombie to rapidly grow its userbase, despite the overall bear market for GameFi. Currently, there are over 50,000 active players, with a 30 day retention rate of 94% and a 60 day retention rate of 86%. This demonstrates the power of the PAE model for retaining players and creating a sustainable growth model, and has allowed Karmaverse Zombie to continually expand its userbase.<br /><br />Top 3 Most Active Game on Polygon<br /><br />Based on DappRadar’s data, Karmaverse Zombie is already ranked 3rd by number of users on the Polygon Chain. As the crypto winter freezes out fair-weather projects, the resilience and strength of those built on sound foundations will prove itself.<br /><br />※Karmaverse’s current user count on Polygon (Source: DappRadar)<br /><br />Stable Growth in Token Value<br /><br />With a growing base of active players, the price for Karmaverse Zombie’s primary tokens of Knots and Serum has been steadily growing over time. This growth is based on real player engagement, and showcases that the value of the tokens is grounded not in wild speculation amid hopes of quick, short-term returns, but is a reflection of actual players enjoying the game and investing their time and money and getting value in return. The steady rate of return provided by the game’s tokens, especially Knots, demonstrates how the PAE mindset provides growth and a high RoI even during a bear market.<br /><br />※Karmaverse Zombie’s Knot price vs BTC (Source: CoinMarketCap)<br /><br />Putting Players and Gameplay First<br /><br />While the Karmaverse will eventually span across multiple genres of games, Karmaverse Zombie has the distinction of being the world’s first Play and Earn (PAE) game. While Play 2 Earn (P2E) games have been the focus, PAE shifts the focus to gameplay and fun, allowing players to earn as a natural extension of engaging gameplay, rather than the gameplay simply being a chore to execute in order to receive the payoff. PAE games are games first and foremost, with the growth in their value being a result of being playable and retaining players rather than raw speculation.<br /><br />The team behind Karmaverse Zombie has extensive experience in creating games with longevity, having created the successful mobile strategy games Kings of Avalon and Guns of Glory. Karmaverse Zombie combines the casual gameplay of match-3 and the social, player-driven experience of strategy games into a single quality game that both casual and hardcore players can enjoy. If players would play a game even without token and NFT rewards, allowing them to earn money as they play is a positive innovation in the gaming and crypto industry that creates sustainable growth.<br /><br />※Screenshot showing the positive reception among players<br /><br />With broadly appealing gameplay and a solid economic model, Karmaverse Zombie is a game designed to last, with an exceptionally long lifecycle designed to reward both early adopters as well as welcome new players. No matter when a player begins their journey, as long as they have a few basic NFT resources, they will have the opportunity to earn NFTs and tokens, enjoying good rates of return. Unlike many P2E games based on rewarding only those who get in on the ground level at the expense of latecomers, Karmaverse Zombie is a PAE game that wants to reward all players and ensure everyone who joins has a chance to earn, ensuring the game can grow long into the future.<br /><br />New Ways to Play in an Expanding Ecosystem<br /><br />In the four months since Karmaverse Zombie went live, new events and features have been continually added to the game, improving the player experience, balance, and new ways to earn rewards through engaging gameplay. For example, in additional to regular seasons and ladders, new monthly challenges, tournaments, and double rewards for incubating new fighters have been added, allowing players to both play more and earn more.<br /><br />This is only the beginning. New games will be continuously added to the Karmaverse, with some tokens being transferable across games. In addition, veteran players can receive special NFTs including Karmaverse Avatars that can be used across the platform, which may confer special bonuses in different games.<br /><br />Over the long term, the crypto market may go through more boom and bust cycles. The only way to ensure long-term viability is through creating products that truly meet the needs and wants to players. When players want to play and encourage their friends to do so, the game and its players will be able to enjoy a healthy ecosystem powered by themselves, not by investors seeking a quick buck in the latest craze. The Karmaverse’s long-term vision is of a game ecosystem powered by players for players, with everyone able to contribute, playing, enjoying- and earning.<br /><br /> <br /><br />",
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"content": "The Web 3․0 Winter Is Coming: Bucking the Trend With Karmaverse Zombie\n\n\n\nSPONSORED\n\nA crypto winter has come. With BitCoin (BTC) falling over 70% from its all time high along with Ethereum, and a steady drumbeat of news involving crypto-related funds, companies, and projects collapsing, it is clear that the last round of cryptomania has come to a close. Even juggernauts of GameFi such as Axie Infinity (and its AXS coin) have seen prices tumble; without an endless flow of new money, only those with sustainable business models will survive.\n\n \n\nAgainst the Current: Karmaverse Zombie\n\nIn this kind of bear market, GameFi faces unprecedented headwinds and negative sentiment, but there are also new projects full of opportunities. However, Yield Guild Games SEA (YGG SEA) has moved thousands of players from Axie Infinity to Karmaverse Zombie, with other leading guilds including Path DAO, Ola GG, and Avacado also showing their confidence in the future of the project by establishing themselves and investing their time and effort.\n\n\n\nInvestment Backing for Stability\n\nKarmaverse Zombie is the first blockchain game in the Karmaverse, and the first step into a larger ecosystem that will allow its tokens and NFTs to be used across a variety of games. This means its potential extends far beyond the current downturn, and is part of a long-term vision shared by investors including A&T Capital, Polygon Studios, OKX, and others. This backing provides stability and demonstrates the commitment to the game and the larger metaverse it will be a part of by its many stakeholders.\n\n\n\nOver 10K New Players Every Month\n\nThis design decision has helped Karmaverse Zombie to rapidly grow its userbase, despite the overall bear market for GameFi. Currently, there are over 50,000 active players, with a 30 day retention rate of 94% and a 60 day retention rate of 86%. This demonstrates the power of the PAE model for retaining players and creating a sustainable growth model, and has allowed Karmaverse Zombie to continually expand its userbase.\n\nTop 3 Most Active Game on Polygon\n\nBased on DappRadar’s data, Karmaverse Zombie is already ranked 3rd by number of users on the Polygon Chain. As the crypto winter freezes out fair-weather projects, the resilience and strength of those built on sound foundations will prove itself.\n\n※Karmaverse’s current user count on Polygon (Source: DappRadar)\n\nStable Growth in Token Value\n\nWith a growing base of active players, the price for Karmaverse Zombie’s primary tokens of Knots and Serum has been steadily growing over time. This growth is based on real player engagement, and showcases that the value of the tokens is grounded not in wild speculation amid hopes of quick, short-term returns, but is a reflection of actual players enjoying the game and investing their time and money and getting value in return. The steady rate of return provided by the game’s tokens, especially Knots, demonstrates how the PAE mindset provides growth and a high RoI even during a bear market.\n\n※Karmaverse Zombie’s Knot price vs BTC (Source: CoinMarketCap)\n\nPutting Players and Gameplay First\n\nWhile the Karmaverse will eventually span across multiple genres of games, Karmaverse Zombie has the distinction of being the world’s first Play and Earn (PAE) game. While Play 2 Earn (P2E) games have been the focus, PAE shifts the focus to gameplay and fun, allowing players to earn as a natural extension of engaging gameplay, rather than the gameplay simply being a chore to execute in order to receive the payoff. PAE games are games first and foremost, with the growth in their value being a result of being playable and retaining players rather than raw speculation.\n\nThe team behind Karmaverse Zombie has extensive experience in creating games with longevity, having created the successful mobile strategy games Kings of Avalon and Guns of Glory. Karmaverse Zombie combines the casual gameplay of match-3 and the social, player-driven experience of strategy games into a single quality game that both casual and hardcore players can enjoy. If players would play a game even without token and NFT rewards, allowing them to earn money as they play is a positive innovation in the gaming and crypto industry that creates sustainable growth.\n\n※Screenshot showing the positive reception among players\n\nWith broadly appealing gameplay and a solid economic model, Karmaverse Zombie is a game designed to last, with an exceptionally long lifecycle designed to reward both early adopters as well as welcome new players. No matter when a player begins their journey, as long as they have a few basic NFT resources, they will have the opportunity to earn NFTs and tokens, enjoying good rates of return. Unlike many P2E games based on rewarding only those who get in on the ground level at the expense of latecomers, Karmaverse Zombie is a PAE game that wants to reward all players and ensure everyone who joins has a chance to earn, ensuring the game can grow long into the future.\n\nNew Ways to Play in an Expanding Ecosystem\n\nIn the four months since Karmaverse Zombie went live, new events and features have been continually added to the game, improving the player experience, balance, and new ways to earn rewards through engaging gameplay. For example, in additional to regular seasons and ladders, new monthly challenges, tournaments, and double rewards for incubating new fighters have been added, allowing players to both play more and earn more.\n\nThis is only the beginning. New games will be continuously added to the Karmaverse, with some tokens being transferable across games. In addition, veteran players can receive special NFTs including Karmaverse Avatars that can be used across the platform, which may confer special bonuses in different games.\n\nOver the long term, the crypto market may go through more boom and bust cycles. The only way to ensure long-term viability is through creating products that truly meet the needs and wants to players. When players want to play and encourage their friends to do so, the game and its players will be able to enjoy a healthy ecosystem powered by themselves, not by investors seeking a quick buck in the latest craze. The Karmaverse’s long-term vision is of a game ecosystem powered by players for players, with everyone able to contribute, playing, enjoying- and earning.\n\n \n\n",
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