Posts Bydailybusinessnews, Author at - Page 2 of 13130
The Twitter-Alex Jones saga continues. “We’ll enforce [our rules]” if Jones breaks them, Twitter CEO Jack Dorsey promised last week amid backlash on why the conspiracy theorist accused of hate speech is still afforded a platform on Dorsey’s site, and it appears Twitter has followed through. The Verge reports Jones’…
Illinois’ attorney general has announced a lawsuit accusing Trump Tower in Chicago of violating federal environmental laws through its use of the Chicago River in a move the Trump Organization claims is “motivated by politics.” Per NBC News and the AP , the 92-story residential building and hotel pulls almost 20…
Playboy is reportedly suing a Canadian cryptocurrency firm for allegedly failing to integrate a “wallet that would support a range of cryptocurrencies across the company’s online media, digital and casual gaming businesses.” Playboy.tv was supposed to be the first of the company’s platforms to feature the new crypto wallet and payment options.
Playboy Sues Canadian Crypto Company
Playboy Enterprises Inc., the parent company of the Playboy magazine empire founded by Hugh Hefner, is suing a cryptocurrency firm listed on the Canadian Securities Exchange (CSE) “on allegations of fraud and breach of contract,” the LA Times reported Monday.
In the lawsuit filed in Los Angeles, Playboy claims that Global Blockchain Technologies (CSE: BLOC) “failed to live up to an agreement to integrate blockchain technology into Playboy’s online media channels,” the publication elaborated. The Beverly Hills-based company is seeking unspecified compensatory and punitive damages.
Global Blockchain Technologies, on the other hand, dismissed the suit as a “normal dispute” between two firms, calling the fraud allegation “frivolous.” In a statement to the news outlet, the Vancouver-based company wrote, “Global believes it has a strong defense to the action and will be vigorously defending same.”
Playboy’s Crypto Integration Plan
The two companies made an agreement in March, according to the lawsuit. At that time, Playboy announced:
The company is developing an online payment wallet that will support a number of cryptocurrencies across the company’s online media, digital and casual gaming businesses.
“Playboy.tv will be the first of the company’s media platforms to feature the new digital wallet,” the company wrote, adding that it “will enable the online platform to accept vice industry token (VIT), among other leading cryptocurrency tokens, for access to the brand’s exclusive content.” The crypto wallet is expected to be “available before the end of the year,” Playboy confirmed at the time. Playboy.tv currently advertises over 80 TV shows and over 2,000 episodes.
Launched in April, VIT aims to be a payment medium for the adult, gambling, and cannabis industries. Its market cap quickly rose to a high of $ 7 million after launch but has been falling steadily to just above $ 1 million today, with each token currently worth two-thirds of a penny at the time of this writing.
Global Blockchain Technologies made a separate announcement in May that it was “building a cryptocurrency wallet for Playboy that can hold VIT” to be integrated into “the Playboy.tv web media portal.” The company also confirmed at the time that “the integration of VIT into Playboy.tv and the wallet is set to be launched before the end of 2018.”
However, in the lawsuit filed, the LA Times reported:
Playboy said GBT [Global Blockchain Technologies] hasn’t made good on the deal and also failed to pay the $ 4 million it promised as part of the agreement.
What do you think of Playboy suing Global Blockchain Technologies? Do you think Playboy will find another way to integrate crypto? Let us know in the comments section below.
Images courtesy of Shutterstock, Global Blockchain Technologies, and Playboy.
Need to calculate your bitcoin holdings? Check our tools section.
The post Playboy Sues Wallet Developer for Failing to Integrate Crypto Across Its Platforms appeared first on Bitcoin News.
She had vowed to keep fighting for a House seat in Florida, but Melissa Howard says she’s now out. “I have come to the realization that the right thing to do for my community is to withdraw from the race,” she texted the Sarasota Herald-Tribune on Tuesday. Howard, 46, had…
A bull ran amok through the streets of Oklahoma City on Monday before eventually collapsing and dying, police said.
A man who died when he flew a plane into his own house after he had been arrested for assaulting his wife had full access to his employer’s plane because he had earned the firm’s trust, the president of Utah engineering company VanCon Inc. said Tuesday. Duane Youd, 47, was…
In today’s edition of Bitcoin in Brief we cover stories about the stoners’ magazine High Times which dropped cryptocurrencies from its IPO, Binance launching its own academy, an institutional investors program by Kucoin and the Cash App expanding its crypto buying service across America.
Stoners Drop Crypto From IPO
The popular cannabis culture publication High Times recently announced that it is holding an initial public offering (IPO) and that it will be the first regulated A+ stock willing to accept cryptocurrencies such as BTC and ETH. However, according to a filing with the Securities and Exchange Commission (SEC) that was just an honest mistake. The announcement was “distributed in error as the Company will not be accepting bitcoin as payment for shares. As provided in the Company’s subscription agreement related to the offering, the Company will only be accepting check, credit card, ACH or wire transfer as payment for subscription to shares,” High Times now claims. While it would have been fair to assume another company might have gotten cold feet due to the current bear market, or that it was somehow intimidated by the regulators behind the scenes, in this case it is indeed possible that whoever wrote that original announcement was just stoned out of their mind at the time.
Binance Launches Academy
Popular cryptocurrency exchange Binance has announced it is launching a brand new educational resource portal in an open beta. Binance Academy is defined as an open access learning hub supported by the venue’s team. “Our aim is to provide a one-stop-shop for blockchain and crypto learning resources, open to anyone and for the benefit of all,” they explain. Current topics include Blockchain, Coins & Tokens, Binance, Security, and Trading, and many more are said to be in the pipeline. Binance says it will be adding more and more learning resources to the Academy week after week, the plans for this are said to be ready but they also look to adapt based on community feedback and submissions.
Kucoin Institutional Investor Program
Kucoin, the Singapore-based cryptocurrency exchange, has recently announced a new program meant to encourage institutional investors to participate more actively in trading activities. The Institutional Investor Program is designed for those that participate in quantitative trading, high-frequency trading, etc. All institutions that successfully qualify for the program will receive significant trading fee discounts of 20% to 80%.
The exchange also recently responded to media reports that its central office in Hong Kong is empty. The team explained that: “In fact, KuCoin’s public address in Hong Kong is merely a mailing address of one of KuCoin’s many subsidiary companies. KuCoin Headquarters is in Singapore. KuCoin has always been a global firm, with over 300 employees and four major offices in China, the Philippines, Singapore, and Thailand.”
Cash App Expands Crypto Service Across America
Cash App, the BTC buying and selling service by the payment processing firm Square, has announced on social media that the feature is now available for American users in all fifty states. Back in November, 2017 this functionality was only available to select individuals for experimentation. But by February there were only four states left where residents were not able to access the crypto service on Square’s Cash App due to harsher cryptocurrency regulations, which included Hawaii, New York, Wyoming, and Georgia.
Square Inc (NYSE:SQ), has recently reported its Q2 2018 financial results, revealing that $ 37 million of crypto sales revenue helped the company accelerate its growth during the period.
What do you think about today’s news tidbits? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.
The post The Daily: Stoners Drop Crypto From IPO, Binance Launches Academy appeared first on Bitcoin News.
Venezuela’s attorney general said Tuesday that two high-ranking military officers have been detained in the investigation into an alleged drone attack against President Nicolas Maduro.
CNN.com – RSS Channel – Regions – Americas
The man who showed up at Demi Lovato’s home and allegedly smoked drugs with her hours before her OD is no stranger to the law — cops nabbed him in a huge bust one month before he connected with the singer. Brandon Johnson was arrested back in March…
U.S. stocks rallied Tuesday as banks, retailers and smaller companies jumped. That helped the market recover most of its losses from the previous two days.
The Turkish lira steadied as officials from Turkey and the United States said the countries are in talks to ease diplomatic tensions, which…