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CFTC pays whistleblowers $16M this year for mostly crypto tips

Two of the CFTC’s crypto tipsters scored $15 million alone which brought successful enforcement cases for the regulator.

The United States commodities regulator has paid $16 million this year to whistleblowers who gave information leading to successful enforcement actions with a majority of the tips involving crypto.

In an Oct. 31 statement, Commodity Futures Trading Commission (CFTC) commissioner Christy Goldsmith Romero said most of the tips received this year involved crypto which she claimed was “an area that continues to have pervasive fraud and other illegality.”

Two whistleblowers received $15 million alone for their information which led the CFTC to successful enforcement cases in September — however, the regulator didn’t delve into the nature of those cases in its statement at the time.

Romero said whistleblowers are vital to mitigate commodities fraud and that the CFTC wouldn’t be able to “fully protect” customers and markets without them:

“Whistleblowers help identify fraud and other illegality, interpret key evidence, and save considerable Commission resources and time. The faster we can stop fraud, the more we can protect customers from harm.”

Romero acknowledged the efforts of CFTC’s Office of Customer Education and Outreach which teaches people to spot, avoid and report cryptocurrency fraud.

“With the rise of crypto, more retail customers have come under the CFTC’s jurisdiction,” Romero said.

Related: CFTC issues $54M default judgment against trader in crypto fraud scheme

The CFTC has doled out almost $350 million since the program started in 2014. It’s led to over $3 billion in enforcement sanctions ordered in cases tipped off by whistleblowers.

The CFTC won a record $3.4 billion penalty payment in a Bitcoin-related fraud case in April and won its case against Digitex CEO Adam Todd in July who was ordered to pay $16 million in penalties.

In April, Romero iterated that managing the risks associated with cryptocurrency would be crucial to upholding market integrity, national security and financial stability.

She’s advocated integrating stronger identity verification measures saying it would minimize illicit finance in the cryptocurrency market.

Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Inaugural GAM3 Awards to honor the best web3 games of 2022

Following the announcement, a representative confirmed that the venture capital firm Bitkraft would also be joining as a partner and member of the jury.

The inaugural edition of the GAM3 Awards — a new web3 gaming awards event hosted by Polkastarter Gaming — is set to take place on December 15, according to an announcement provided to Cointelegraph on Nov. 14.

The awards ceremony intends to recognize this year’s best web3 games, highlight the developers behind them, and showcase blockchain as a net plus to the gaming industry. In the announcement, the GAM3 Awards said it hopes to celebrate the future generation of web3 gaming builders by inviting game studios to nominate & recognize their own employees, developers, and professionals across specializations, who represent the future of web3 gaming.

The event is set to be simultaneously broadcast across Polkastarter Gaming’s Twitch, YouTube, and Twitter channels, and will feature a jury comprising over 30 gaming and web3 thought leaders, ecosystems partners, and media outlets. Winners of the first GAM3 Awards will receive a portion of the $300,000 worth of prizes from sponsors such as Immutable X, Blockchain Game Alliance, Machinations, Naavik, and Ultra.

The event is set to bring together industry leaders, ecosystems, and media outlets to reward the top game developers and content creators within the web3 gaming ecosystem. Speaking with Cointelegraph, a representative confirmed that the venture capital firm Bitkraft would also be joining as a partner and member of the jury.

Judges will weigh each game based on multiple criteria including core loop, graphics, accessibility, replayability factor, fun elements, and overall playing experience. Winners will be awarded based on categories such as: Action Game, Mobile Game, Adventure Game, Casual Game, RPG, Shooter Game, Graphics, Strategy Game, Card Game, etc.

Related: Crypto gaming needs to be fun to be successful - money doesn’t matter

Despite the continuing bear market, web3 and blockchain-based games appear to be growing in popularity and doing quite well. According to the analytical service DappRadar, blockchain games and metaverse projects raised $1.3 billion in the third quarter of the year. The company's research revealed that “gaming activity accounted for almost half of all blockchain activity tracked by DappRadar across 50 networks, with 912,000 daily Unique Active Wallets (UAW) interacting with games’ smart contracts in September.”

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

That’s ‘Sir’ Crypto Dad: French order knights former CFTC chair Chris Giancarlo

The first of his name, king of the punks and the first regulators, protector of the seven tokens, the keeper of the great CBDC, the breaker of blockchains and father of crypto.

The French government has given former United States Commodity Futures Trading Commission chair Chris Giancarlo, also known as "Crypto Dad," the equivalent of a knighthood.

In a Tuesday tweet from Giancarlo, the former CFTC head said France’s National Order of Merit awarded him a Chevalier — the equivalent of a knighthood — in a ceremony at the French ambassador's residence in Washington D.C. Those attending included current and former CFTC commissioners Rostin Behnam, Brian Quintenz, Christy Goldsmith Romero, Kristin Johnson, Caroline Pham, as well as Hester Peirce of the Securities and Exchange Commission.

The order announced Giancarlo’s appointment in May. Phillippe Etienne, France's ambassador to the United States, said the award was due, in part, to the former CFTC chair’s “understanding of financial markets and the potentials of crypto finance.”

“[This award] recognizes the creation of well-regulated crypto trading markets and strengthening of overseas regulatory ties with the help of many fine public servants during my time of government service,” said Giancarlo at the time.

Giancarlo worked as the chair of the CFTC for five years before leaving in April 2019. During his time with the government agency, he oversaw the launch of regulated Bitcoin (BTC) futures and was alleged to have had a “do no harm” approach to blockchain regulation, earning him the nickname Crypto Dad.

Since leaving the CFTC, Giancarlo has gone on to join blockchain investment firm CoinFund as a strategic adviser, the board of directors for blockchain startup Digital Asset, and briefly, the board of crypto lending firm BlockFi. He currently works as a senior counsel at the law firm Willkie Farr & Gallagher.

Related: Emmanuel Macron on crypto: 'I don't believe in a self-regulated financial sector'

Other individuals who have previously been knighted by their respective governments have joined the crypto space in various ways. Sir Richard Starkey, also known as Beatles member Ringo Starr, launched his own line of nonfungible tokens on June 13. Star Trek star William Shatner, who tokenized a series of trading cards in 2020, was inducted into the Order of Canada in 2019 — though many have said the honor is not equivalent to a knighthood.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Binance becomes official crypto exchange partner of 64th Grammy Awards

Taking place on April 3, the 64th Grammy Awards ceremony will also feature exclusive NFTs via the OneOf marketplace, issued on Tezos.

The Recording Academy, a major music recording company famous for its annual music awards Grammy Awards, has inked a partnership with Binance, the world’s largest crypto exchange by trading volumes.

According to a joint announcement on Thursday, Binance became the first-ever official crypto exchange partner of the 64th Annual Grammy Awards and Grammy Week events to bring various Web3 technology solutions and experiences to the organization's events and projects.

The partnership was announced just a few days before the 64th Grammy Awards ceremony, which will take place on April 3 at the MGM Grand Garden Arena in Las Vegas.

Recording Academy co-president Panos Panay specified that the agreement envisions the development of new monetization avenues for the Recording Academy and the creation of new experiences for music fans.

“As the leading player in the crypto and blockchain space and with its community-focused approach, Binance is the perfect partner for the GRAMMYs and for our mission to empower music people around the world,” Panay added.

According to Binance co-founder Yi He, the new partnership will enable the Recording Academy to meet changing demands of its community by providing fresh new experiences based on blockchain and “all the great things Web3 technology can bring to entertainment.”

A spokesperson for Binance declined to tell Cointelegraph this time whether the partnership would involve using a cryptocurrency, noting that the parties are planning to disclose more details at a later date. “We are currently discussing and exploring a number of possibilities,” the representative said.

The partnership with Binance is not the Recording Academy’s first foray into the intersection of music and blockchain. The Recording Academy made a major move into the industry in November 2021, entering a partnership with OneOf, a nonfungible token (NFT) marketplace backed by record producer Quincy Jones. The exclusive partnership aims to issue digital collectible NFT drops on the Tezos blockchain to commemorate the 64th, 65th, and 66th Grammy Awards.

Related: Nifty News: Snoop Dogg and Gary V have $95M in NFTs, Dolly Parton’s Dollyverse and more…

On the other hand, this is the first time that Binance partnered with a music organization, a spokesperson for Binance told Cointelegraph. The cryptocurrency exchange has still been working actively with artists and musicians through its Binance NFT marketplace launched last year.

The partnership further reinforces Binance’s commitment to work with mainstream companies to boost cryptocurrency adoption.

In early March, Binance CEO Changpeng Zhao announced that the exchange was planning to identify and invest in one or two targets in every economic sector and try to bring them into crypto. The cryptocurrency giant previously invested $200 million in Forbes magazine on its mission to improve consumer understanding of cryptocurrencies and blockchain.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Crypto.com will air campaign in support of Ukraine during Academy Awards

The platform will match many donations in crypto, fiat and nonfungible token purchases toward humanitarian help for Ukraine through March 31.

Cryptocurrency exchange Crypto.com plans to use its ad time during the 94th Academy Awards on Sunday to air a TV spot regarding the humanitarian crisis in Ukraine.

In a Wednesday announcement, Crypto.com CEO Kris Marszalek said the exchange had partnered with the International Committee of the Red Cross, or ICRC, to launch a campaign aimed at helping those suffering under war-torn conditions in Ukraine. The CEO did not specify what the campaign would entail, but the platform already allows donations in crypto, fiat and nonfungible token purchases to the humanitarian network Red Cross Red Crescent. The exchange will match up to $1 million in donations until March 31.

“The humanitarian crisis caused by the conflict in Ukraine continues to escalate, and I believe it’s our responsibility to support those in need,” said Marszalek. “Throughout this tragedy, the entire cryptocurrency community has come together to show the world who we are, our values and the importance of what we’re building."

According to the ICRC, more than 3.6 million people have fled Ukraine as of March 24, which marked a month since Russian military forces invaded the country. Reports out of Ukraine suggest millions of people are facing food and water shortages, lack of medical care due to many hospitals being damaged or destroyed, and displacement after being forced to leave the eastern parts of the country.

Many private businesses are facilitating donations of digital assets including Bitcoin (BTC) and Ether (ETH) towards helping Ukrainians. In addition to Ukraine’s government accepting crypto donations directly through wallet addresses provided by the Ministry of Digital Transformation, the legislative body partnered with exchanges FTX and Kuna and staking platform Everstake to launch a donation website on March 14. Cointelegraph reported that as of March 9, many charities, relief organizations and government wallets had received roughly $108 million in crypto toward helping Ukraine.

Related: Every Bitcoin helps: Crypto-fueled relief aid for Ukraine

In addition to its efforts for Ukraine, Crypto.com announced on Tuesday it would be an official sponsor of the 2022 FIFA World Cup in Qatar scheduled to begin in November. The exchange has made a major marketing push in the last year, partnering with many sports organizations, including the Australia Football League, Formula 1 and the Ultimate Fighting Championship.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

The Recording Academy and OneOf announce Grammy Awards partnership

The Grammy awards will be accompanied by exclusive NFT drops for the foreseeable future.

The Recording Academy and OneOf, a green NFT marketplace backed by legendary record producer Quincy Jones, announced an exclusive partnership centered around the next three years of Grammy Awards in an unsigned statement on the Grammy.com website.

Details on specific NFT collections will be released in January, but will celebrate both the awards themselves and nominees / recipients. Some of the money from the sale of the assets will go towards funding the Recording Academy scholarship fund. OneOf, built on the Tezos blockchain, is specifically designed with musicians and listeners in mind. Recording Academy co-president Panos A Panay said:

"As an Academy, we are always looking for ways to help artists discover new forms of creative expression, while also creating new ways of income generation and ways for fans to interact with the artists that they love. OneOf shares that vision, and we are proud to work with a sustainable NFT company."

OneOf co-founders Adam Fell, Joshua James and Lin Dai echoed their own excitement at the announcement saying:

"If used to their full potential, NFTs will empower the music industry in a way few other technologies ever have. It is our great honor to work with this prestigious organization to help shepherd this bright future to the industry."

OneOf launched in August. The platform has hosted previous token drops from Doja Cat, the Game, iHeartRadio Music Festival, and Alesso. Whitney Houston, TLC and G-Eazy have inked deals for future drops with the company as well. The startup raised $63 Million prior to launching.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Dallas Mavericks fan wins $100k in Bitcoin at NBA shootout event

Isaiah Stone won $100,000 worth of Bitcoin in a Voyager Digital-sponsored NBA shootout event.

A Dallas Mavericks fan won $100,000 in Bitcoin (BTC) after making a series of shots in a National Basketball Association (NBA) shootout event sponsored by crypto brokerage firm Voyager Digital. 

Isaiah Stone, the winner of the basketball shootout, completed all stages of the challenge that included a free throw, a three-pointer and a half-court field goal. According to the Dallas Mavericks, the Voyager-sponsored prize money was the largest on-court promotion for the team.

On Wednesday, Voyager Digital entered into a five-year partnership deal with Mark Cuban’s Dallas Mavericks to increase crypto exposure among NBA fans through various fan engagement promotions.

As Cointelegraph reported, the crypto trading platform will also have naming rights over the franchise’s Mavs Gaming Hub in Dallas, a venue for the Mavs NBA 2K League team. According to Cuban:

“Our partnership with Voyager will allow Mavs and NBA fans to learn more about Voyager and how they can earn more from Voyagers' platform than from traditional financial applications.”

In addition, the NBA franchise's rewards program allows fans to buy merchandise and win rewards in cryptocurrencies including Bitcoin, Ethereum (ETH) and Dogecoin (DOGE).

Related: Coinbase announces multiyear partnership with NBA and WNBA

On Oct. 19, prominent crypto exchange Coinbase signed a multi-year partnership with five NBA leagues — the NBA, Women’s National Basketball Association (WNBA), NBA G League, NBA 2K League and USA Basketball — as an official partner to improve fan interaction.

Coinbase chief marketing officer Kate Rouch said that “as part of the partnership, we will create interactive experiences to engage with the NBA and WNBA’s incredible community and athletes around the world.”

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

NFT for the win: Grandmaster Magnus Carlsen chases a nonfungible trophy

Ten finalists including Magnus Carlsen and Wesley So will compete for the Champion’s Trophy NFT, while a replica will be made available for auction.

An international chess tournament, Meltwater Champions Chess Tour (MCCT), has announced to mint nonfungible token (NFT) trophies and collectibles for preserving the game‘s most defining moments for infinity. 

The winner of the MCCT will be awarded an NFT trophy, marking the mainstream crypto involvement from the international chess community. The tournament’s finals will see participation from grandmaster Magnus Carlsen and other nine professional chess players including Wesley So.

According to the official statement, Chess Champs will mint two editions of the Champion’s Trophy NFT, allowing fans to obtain a replica of the trophy through an online auction. Moreover, the company will also release a series of NFT collectibles attributed to “the moves, the moments and the players” on the chess tour.

Carlsen’s interest in crypto can be traced back to a recent chess tournament hosted by FTX crypto exchange, where the World Champion won 0.6 Bitcoin (BTC) along with the $60,000 prize in cash.

In addition to awards, the chess community is exploring blockchain use cases to prevent cheating in online tournaments amid the COVID-19 restrictions. Running parallel to the postponement of the 2020 Chess Candidates Tournament in Ekaterinburg, Russia, World Chess has previously explored the possibility of moving matches online via blockchain technology.

Related: Sports-themed NFTs spark gold rush as projects raise $930M in a week

A Cointelegraph report from September shows that tokenized sport collectibles projects have collectively raised almost $1 billion in funding within a week.

Dapper Labs, the firm offering tokenized basketball collectibles NBA Top Shot, announced a $250 million funding round in addition to revealing a 30x growth in 2021.

Following suit, Sorare, an NFT trading cards marketplace raised $680 million in funding led by Japanese fintech giant SoftBank. With a revised valuation of $4.3 billion, Sorare plans to expand its portfolio of football player NFTs by increasing partnerships with football leagues and associations.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Celsius wins ‘best cryptocurrency wallet’ award by FinTech Breakthrough

The FinTech Breakthrough Awards recognize innovators in the emerging field of financial technology. Four awards were handed out in the cryptocurrency category.

Celsius Network, a digital asset lending platform, has been awarded “best cryptocurrency wallet” at the fifth-annual FinTech Breakthrough Awards — a yearly event that recognizes emerging companies at the intersection of finance and technology. 

James Johnson, managing director of FinTech Breakthrough, described Celsius as being on a “worthy mission” to provide people with “better opportunities to gain financial freedom.” He continued:

“We are thrilled to recognize Celsius for their success and momentum in this mission, serving as a true example of breakthrough technology in the FinTech space. We extend our sincere congratulations to the entire Celsius team for winning 'Best Cryptocurrency Wallet' for 2021.”

FinTech Breakthrough also recognized MoonPay for “best cryptocurrency purchasing site,” Bitstamp for “best cryptocurrency exchange” and IPC as “best cryptocurrency info source.”

The other award categories included leadership, consumer lending, business lending, wealth management, personal finance, payments, investments, consumer banking, and financial research and data. The 2021 event attracted more than 3,850 nominations worldwide. Crypto's inclusion alongside these traditional categories is a testament to how quickly the market has matured.

Celsius Network is coming off a stellar 2020, with deposits, revenue and users growing dramatically. As of February, the borrowing and lending platform had paid out $250 million in cryptocurrency rewards to depositors. The platform has reportedly amassed more than 500,000 users and manages over $10 billion worth of digital assets.

Celsius’ native CEL token is ranked 76th by market capitalization, with a total value of nearly $4.2 billion. The token is presently valued at $6.00, having gained 5.8% on the day.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin