The problem here is not that Rabbit Inc. used to be an NFT company, or that Jesse Lyu was its CEO, or that any of the GAMA team is or was part of making the Rabbit R1. Companies pivot. It happens. When they do so they communicate how they’re doing so to their users, and do so with transparency. The problem is that it appears that GAMA holders, and anyone who took significant interest in GAMA and the things that Lyu promised — a comic, a television show, a Massively Multiplayer Online Role Playing Game, a physical store to educate people on Web3 and NFTs, a rocket ship with a satellite — were left in the lurch. Less than a year before the Rabbit R1 launched, Lyu was discussing integrating AI into a completely different product, and people believed that he was sincerely focused on creating all the things he’d promised to in GAMA and the Gamaverse.
Activity tagged "crypto"
“Crypto researcher Molly White skewered [Chris Dixon’s Read Write Own] with the delight of Pete Wells after downing an Almond Joy cocktail at Guy Fieri’s Flavortown.”
“Dixon tells me that White is ‘a professional anti-crypto person.’ ”
“Chris Dixon’s Campaign to Overhaul Crypto’s Grifty Reputation” (archive) – Bloomberg
I have a new article out today in Businessweek: "The State of Crypto Is Anything But Strong" (gift link).
I think this is the first time any of my writing has earned its own animated illustrations, which I am just delighted about.
Avraham Eisenberg, the person who was just found guilty of exploiting the Mango Markets crypto project, has now been charged with possession of child sexual abuse material.
this is not altogether surprising, given an august 2023 filing in his market manipulation case that disclosed that the FBI had found CSAM while searching a cell phone of his in relation to his crypto theft
interesting, Roger Stone deleted one of his tweets shilling a "MAGA Memecoin" after I pointed out that these tweets likely violate SEC rules
most of his other promo tweets remain, though, and have similar issues
Issue 56 – What are you gonna do, arrest me?
The SEC is asking the judge in the Terra lawsuit to order $4.2 billion in disgorgement, a $420 million penalty against Terraform Labs, and a $100 million penalty against Do Kwon.
They also want Kwon banned from serving as an officer or director of a publicly traded company.
Kwon has opposed any injunction or disgorgement against him, and says that the potential penalties should be somewhere around $250,000–$300,000.