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Miami Heat’s Jimmy Butler seeks dismissal from Binance promo class suit

Lawyers for the basketball star claim he did not mention any alleged securities but instead warned of celebrities promoting crypto investments.

Professional basketball player Jimmy Butler has asked to be dismissed from a class-action lawsuit targeting celebrities involved in the alleged promotion of unregistered securities by Binance, saying tweets he appeared in did not promote the named securities.

In a July 24 filing, Butler’s lawyers argued three tweets he appeared in promoting Binance between Feb. 2 and Feb. 13 of 2022 did not mention allegedl unregistered securities and thus could not have helped to promote them.

They asserted Butler’s tweets did not recommend any investment and instead warned of celebrity crypto endorsements, urging potential Binance customers to do their own research on crypto investments.

Butler was named in the March class-action lawsuit alongside Binance, its CEO, Changpeng “CZ” Zhao, and YouTubers Graham Stephan and Ben Armstrong, who is known as BitBoy Crypto.

Binance engaged Butler — an All-Star player for the National Basketball Assocation's Miami Heat — in 2022 to promote the exchange in the lead-up to that year’s Super Bowl.

He first appeared in a video promoting a free nonfungible token (NFT) collection from Binance on Feb. 2, 2022. Butler subsequently tweeted another two videos that month, on Feb. 7 and Feb. 13.

In the video posted by Binance, Butler says “you’re going to hear some of the biggest names telling you to get into crypto but they don’t know you or your finances.”

“Binance and I are here to tell you, trust yourself and, of course, do your own research,” he added.

Related: Binance cuts back on employee benefits, citing ‘decline in profit’: Report

In Butler’s first tweet for the exchange, he said those who used the hashtag “#CryptoCelebAlert” during the Super Bowl could win one of 2,222 NFTs. In another of Butler’s videos, he urged followers to trust themselves and do their own research into crypto.

A June 27 amended complaint said Butler’s statements were deceptive as they appeared alongside the promotion of the free Binance NFTs and its exchange platform.

Zhao, Binance and Armstrong have similarly filed motions to dismiss the suit. On June 15, the class action dismissed finance YouTuber Stephan from the suit.

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Bitcoin completes its fourth halving, block rewards now stand at 3.125 BTC

NBA Hall of Famer Shaq Served in FTX Investor Suit

NBA Hall of Famer Shaq Served in FTX Investor SuitA law firm representing FTX investors has served former NBA star Shaquille O’Neal in a class-action case against celebrities who endorsed the failed crypto exchange. The lawsuit accuses Shaq, along with other public figures and the platform’s founder, of defrauding people who put money into FTX. Shaquille Served Legal Notice in FTX Lawsuit Outside His […]

Bitcoin completes its fourth halving, block rewards now stand at 3.125 BTC

NFT Steez and Victor Solomon chat about building in Web3 and the Metaverse

This week NFT Steez spoke to award winning artist Victor Solomon about basketball, the Metaverse, Web3 and his unique NFT collection.

On Dec. 2, NFT Steez hosts Alyssa Expósito and Ray Salmond chatted with Victor Solomon to discuss his journey into bridging his in-real-life artwork into NFTs and how he cultivates the community and culture that surrounds it. 

Solomon's work centers around basketball, not just the object, but the sport itself. For Solomon, the inspiration for his work comes from his early childhood of wanting to play hockey, a sport that was not accessible for him, and his eventual discovery of basketball which he discovered to be more accommodating.

Solomon said:

"Basketball was such an inspirational platform for me since there's no barrier to entry."

Solomon says that the open nature of basketball is an "incredible parallel for everything that's happening in Web3" and throughout the episode he explains the symbiotic relationship he has experienced in building out VesselVerse, the basketball of the Metaverse.

Bridging the gap between real life and digital spaces

When asked about the liberating elements of creating and iterating in Web3, Solomon drew attention to the "invigorating" nature of being able to create things that cannot exist in real life, like a "planet inside a hollow basketball," but also the process of taking the physical elements into digital renderings and composites. 

For Solomon, building a collection and a community to rally around it was second nature. His extensive experience in the traditional art world gave him the same insight and structure on how he releases digital collectibles.

Drawing inspiration from other NFT projects like Nouns, Solomon's digital collection, VesselVerse operates similarly to his real life pieces, except one "vessel," or basketball is auctioned off every hour.

Contrary to physical installations or show pieces in a gallery, Solomon noted that creating within Web3 offers participants and collectors a broader and larger say in the direction of the work rather than a one-off experience.

Related: Comic-Con guru explains why storytelling is the key component for successful NFT projects

Unlocking collaboration within a community

When it comes to Web3 and the Metaverse, a core tenet in a successful project or ecosystem is the community surrounding it and building alongside it. Solomon described how "exciting it is to be able to work shoulder to shoulder alongside a growing community," where diverse collectors enable an "open forum to constantly visit, discuss and consider the direction of the project."

Rather than shying away from opening up considerations to the community, Solomon embraces the more decentralized aspects of building and unlocking community in Web3. Solomon said:

"What attracts me as a founder is unlocking that opportunity for everyone to be able to have a voice."

For Solomon, the juxtaposition of Web2 and Web3 has highlighted what he considers a "massive unlock." As he describes, the collaborative nature and "community spirit" has not been something he has been able to experience in his physical work and is "energizing."

The biggest challenge Solomon currently faces is re-educating a segment of the ecosystem that may have had bad experiences in the crypto and NFT market. Nonetheless, Solomon suggests that the adversity is worth enduring since the promise of Web3 is much bigger than any particular negative experience.

To hear more from the conversation, tune in and listen to the full episode of NFT Steez and make sure to mark your calendar for the next episode on Dec. 16 at 12 pm ET.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Bitcoin completes its fourth halving, block rewards now stand at 3.125 BTC

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Bitcoin completes its fourth halving, block rewards now stand at 3.125 BTC

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The post Crypto Exchange FTX Inks International Rights Deal With NBA’s Golden State Warriors appeared first on The Daily Hodl.

Bitcoin completes its fourth halving, block rewards now stand at 3.125 BTC

Michael Jordan and Son Reveal First Tech Venture, Heir Platform to Feature NFTs and Leverage Solana

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Bitcoin completes its fourth halving, block rewards now stand at 3.125 BTC

NYDIG partners with Houston Rockets basketball franchise, plans to pay team in BTC

The deal seems to be part of a larger move for Rockets owner Tilman Fertitta, who is also the chairman and CEO of a restaurant group that recently launched a Bitcoin rewards program.

The New York Digital Investment Group will be paying the National Basketball Association’s Houston Rockets franchise in Bitcoin as part of a partnership aimed at promoting crypto education and adoption.

In a Nov. 16 announcement, the Houston Rockets said the New York Digital Investment Group, or NYDIG, would become the team’s official Bitcoin (BTC) services partner and platform. As part of the partnership, NYDIG is planning to name some of the Rockets’ premium seating at the Toyota Center in Houston the ‘Bitcoin Suites.’

The deal with the NYDIG seems to be part of a larger strategy for Rockets owner Tilman Fertitta, who is also chairman and CEO of Landry’s Restaurant Group. Last week, the company announced it would be introducing a BTC rewards program for its restaurants and is already rolling out BTC payment options.

Through Landry’s and other ventures, Fertitta, worth an estimated $6.3 billion, also owns a few hotels and five casino resorts across the United States. There have been no reports of BTC or other cryptocurrencies being accepted at these venues at the time of publication. However, in June, Fertitta said his holding company planned to start validating blocks on the Akash Network.

Related: Dallas Mavericks fan wins $100K in Bitcoin at NBA shootout event

This year the crypto space has seen many major basketball franchises in the U.S. partner with companies dealing with digital assets and blockchain technology. In October, Voyager Digital inked a deal with the Dallas Mavericks in an aim to make crypto more accessible through fan engagement. Coinbase also recently signed a multiyear sponsorship contract with the NBA to be its exclusive crypto platform partner.

Bitcoin completes its fourth halving, block rewards now stand at 3.125 BTC

Voyager Digital will be crypto brokerage partner for Dallas Mavericks

Under owner Mark Cuban, the basketball franchise was one of the first in the NBA to accept crypto payments for tickets and merchandise.

Crypto trading platform Voyager Digital has inked a deal with the Dallas Mavericks basketball team aiming to make crypto more accessible through fan engagement and other educational programs.

In an Oct. 27 announcement, Voyager Digital said it would become the Mavs first cryptocurrency brokerage and international partner in a five-year deal. The 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.

"This partnership gives us the opportunity to educate people all over the world on ways to use crypto in their everyday lives,” said Voyager Digital co-founder and CEO Steve Ehrlich. “We want to help people learn alternate ways to grow their wealth to achieve true financial freedom and build intergenerational wealth through crypto. We found a great partner to do this with in the Mavs and their owner, Mark Cuban, who is already deeply involved in the space."

Under owner Mark Cuban, the basketball franchise was one of the first in the NBA to accept crypto payments for tickets and merchandise. The Mavs first started accepting Bitcoin (BTC) in 2019, and this year — perhaps due to Cuban being a major Dogecoin (DOGE) proponent — expanded to include the meme-based token.

Related: Coinbase announces multiyear partnership with NBA and WNBA

Many crypto companies and platforms have formed partnerships with sports organizations across the globe as the space expands and seemingly becomes more profitable as a sponsor. Crypto derivatives exchange FTX announced it had become the official sponsor of Major League Baseball in June and previously struck a deal to name the Miami Heat’s home stadium the FTX Arena until 2040.

The announcement comes following the Mavs kicking off the 2021–2022 season on Oct. 6.

Bitcoin completes its fourth halving, block rewards now stand at 3.125 BTC