Activity

Posted:

there have been a LOT of letters coming in from Celsius creditors who are having issues receiving reimbursements from the bankruptcy case

Hello, Sir/Madam. My Name is [redacted]. I had many coins in my Celsius account, and at the time of bankruptcy, the value was more than $26,000. Celsius announced weeks ago that they would send emails to all coin holders. I haven't received an email from them, even though I sent multiple emails. I haven't received a reply or a reply with a link to the most common questions and answers. The money I saved with hard life to invest for my child's future, now even I can't get a fraction back. Please help me and thousands like me to receive our money back. Thank you very much Sincerely, 
Subject: Urgent Distribution Code Errors in Celsius Bankruptcy Case Dear Chief Judge Martin Glenn, I am writing to bring to your attention a critical issue regarding getting an error in the distribution codes provided by Stretto in the ongoing Celsius bankruptcy case. I received the BTC and ETH claim codes for my distribution on February 12th, 2024. I tried to claim the Crypto on PayPal and immediately got an error. The next day I got an email from Stretto that my claim codes cannot be used on PayPal and Venmo. I created multiple support tickets but have got a standard response that is available on the Celsius FAQ. A timely resolution is essential for my financial well-being and I respectfully request your urgent attention to rectify the distribution code issue. Thank you for your attention and understanding.
Dear Judge Martin Glenn, I am writing to you from Australia deeply concerned with the rollout of distribution in Celsius Networks Chapter 11. To this date, I have not received any distribution from this long and painful process and as such it is starting to impact my mental health. What is deeply concerning is that there is no help or assistance when contacting Stretto, Celsius Network or Coinbase. I have complied with the process, my account information matches, and I have waited patiently. That patience is now wearing thin, and I have nobody else to contact for help. I thank you for your fair ruling and hard work during this case, if there is anything you can do in your power to aid this process or hold the distributors accountable that would be much appreciated. 
Your Honor, I have not received my distributions yet. I was informed I had an issue with my Coinbase account. I went back to Coinbase, changed my home address to Hungary, since I relocated from Canada during the bankruptcy process. Still nothing from either Streto or Celsius. I am a dual Canadian and Hungarian citizen. I would not like to receive dollars, especially a US check, since I will have a hard time even depositing it now that I live in Hungary permanently. Please help me moving forward. I have four children, I am the sole bread winner , real inflation is raging in Hungary and I could really use my funds after having waited for almost two years.

over forty letters were filed yesterday, and more are coming in each day

Posted:

Justice James Mellor:

Dr. Wright is not the author of the Bitcoin White Paper.

Second, Dr. Wright is not the person who adopted or operated under the pseudonym "Satoshi Nakamoto" in the period 2008 to 2011.

Third, Dr. Wright is not the person who created the Bitcoin System.

And, fourth, he is not the author of the initial versions of the Bitcoin software.

Full written judgment still to come.

(via CoinDesk)

Posted:

Yuga Labs has asked the court to sanction Ryder Ripps for destroying private keys to wallets containing RR/BAYC NFTs, despite knowing he would likely be subject to an injunction requiring him to transfer or burn the NFTs.

Ripps claims he did this in order to "permanently ensure that [he] did not inadvertently engage in any activity on any cryptocurrency wallet that could be interpreted as violating the Court's earlier October 25, 2023 injunction."

Yuga's not buying that at all:

Mr. Ripps’ actions only further harm Yuga Labs by frustrating the purpose of the Court’s injunction. To be clear, simply deleting private keys only means that Mr. Ripps can no longer access the infringing NFTs in his wallets—he still owns the NFTs, and they are still associated with him. The effect of Mr. Ripps’ actions is to leave the infringing RR/BAYC NFTs forever in his wallets, which undermines Yuga Labs’ ability to “regain control over the instrumentalities of commerce that bear its BAYC Marks and allow Yuga to protect its brand and prevent future harm.” Dkt. 431 at 21-22. To add insult to injury, certain of those infringing RR/BAYC NFTs are now forever held in a wallet publicly known as ryder-ripps.eth and held alongside a genuine Yuga Labs NFT, further damaging Yuga Labs’ brand. 3. Mr. Ripps Lacks a Good-Faith Excuse for His Actions It is not credible that Mr. Ripps would delete his private keys to inadvertently avoid violating the order when he continued to use at least one of the wallets for 45 days after the Court’s order. Mr. Ripps signed seven transactions involving a wallet containing RR/BAYC NFTs after October 25, 2023—including swapping $23,000 in cryptocurrencies, purchasing a Yuga Labs Mutant Ape Yacht Club NFT, and withdrawing his remaining cryptocurrency to an exchange on December 9, 2023.7 Mr. Ripps’ technological sophistication undermines any contention that this was the only viable path to compliance or to prevent violation of the Court’s orders.8  A cryptocurrency/NFT wallet must be deliberately used, because wallet transactions must be deliberately signed with a private key. There is no plausible 

They've also asked the court to sanction both Ripps and his co-defendant Jeremy Cahen for not transferring $120,000 within two weeks, as stipulated. Counsel for Ripps and Cahen say the two are unable to pay, and that Yuga needs to obtain a writ of execution to enforce the judgment.

Yuga doesn't seem to buy that Ripps and Cahen can't afford the $120K, claiming that since the court order they've seen Cahen withdraw $30,000 from a crypto wallet he owns to an exchange, and drop $11,200 on an NFT.

A CryptoPunk NFT showing a pixel art head with a goatee, stringy black hair, and sunglasses smoking a pipe
Posted:

Kickstarter's bizarre blockchain announcement in December 2021 makes so much more sense now that we know Andreessen Horowitz secretly promised them $100 million to pivot to a blockchain-based product built on the also-a16z-backed Celo blockchain.

At the time, I wondered why COO Sean Leow was so insistent on the move despite being apparently very confused about the whole concept.

Kickstarter's COO, Sean Leow, did an interview with The Beat to discuss the announcement. He seemed to be a little bit confused on the whole concept throughout, and seemed to believe that "open source" is some sort of competing idea to blockchains. At one point he stated, "We believe that that data can be structured in a way through a blockchain where it ... can move in a much more efficient and effective way between services ... in a way that open source doesn't allow". Later in the interview he spoke about governance, saying, "our understanding is that [governance] is done more effectively with blockchain then with open-source."
February 2022 Web3 is Going Just Great entry

I suspect Tom McKay  , then writing at Gizmodo, didn't know how right he was:

How this will actually work, [begin highlight] beyond Kickstarter being able to yell “blockchain” like a spell to summon investors [end highlight] or maybe getting a cut of every project that runs on the resulting protocol, is unclear. A white paper explaining how the
Posted:

crypto folks out there like "is this anything?" while searching around for the next narrative to draw in new bagholders

Cointelegraph headline: "Majority of social media posts about the metaverse show positive sentiment". Subtitle: "A review of 86,565 social media posts related to metaverse technology showed only 14% negative sentiment."