Daily Crypto #84
MetaMask ups its game, Crypto Sports sponsorship bounces back, Mark Wahlberg to release SBF vs. CZ documentary, Coinbase breathes sigh of relief as judge throws out class-action lawsuit
MetaMask ups its game in the face of mounting competition
MetaMask has announced new features on its wallet extension as competitors challenge the throne of the market leader.
Security challenges exist when users have custody of their assets. Hence, MetaMask has announced new features to enhance the security of users’ funds, considering the frequency of crypto scams and phishing attacks.
MetaMask brings in phishing detection alerts
MetaMask has introduced new features such as phishing detection, showing balance, token price, and incoming transactions. Usage of these features will be optional, providing users the freedom to opt out for any reason.
However, in return for these optional features, users would have to relinquish their privacy, as some features require access to IP addresses.
Crypto Sports sponsorship bounces back as Manchester City players head to the Metaverse
Manchester City players have partnered with crypto exchange OKX for the launch of “an immersive metaverse experience.”
The world’s second largest cryptocurrency exchange by trading volume is partnering with the Premier League club for the release of OKX Collective. According to OKX, the “unique virtual metaverse environment,” is specially designed for football fans to interact with their favorite team. In the shared virtual space, fans will have access to exclusive training content, and other rewards such as non-fungible tokens (NFTs).
In order to promote the launch of the platform, OKX recruited Manchester City players Jack Grealish, Rúben Dias, Ilkay Gündoğan and Alex Greenwood. OKX Collective will also feature unique digital experiences based on these players’ playing style and personal interests. Dias remarked that he looked forward to sharing his match day preparations with fans through the platform. OKX is also the official training kit partner for Manchester City for its 2022/23 season.
Kong vs. Godzilla: Mark Wahlberg to release SBF vs. CZ documentary
Hollywood star Mark Wahlberg’s production company Unrealistic Ideas and Fortune will produce a new documentary giving a 360-degree view of the relationship between disgraced FTX co-founder Sam Bankman-Fried and Binance CEO Changpeng ‘CZ’ Zhao.
According to the Hollywood Reporter, the documentary will showcase the influences of both founders’ upbringings on their journeys to stardom.
Sam Bankman-Fried and CZ’s Public disagreements laid bare
Wahlberg will co-produce the documentary with Unrealistic’s Stephen Levinson, Archie Gips, Fortune’s Alysson Shontell, and Jeff John Roberts.
Changpeng Zhao and several FTX executives have agreed to participate in the production.
Coinbase breathes sigh of relief as judge throws out class-action lawsuit
A U.S. judge has dismissed a proposed class-action lawsuit against Coinbase, providing some relief after recent bad news for the exchange.
Reasons for dismissal
One argument central to allegations is that the company holds title to digital assets on the exchange. However, Engelmayer refuted this, declaring that the terms of Coinbase’s user agreement “flatly contradict” this assertion. Customers also claimed that as an “intermediary,” Coinbase was the “actual seller” of their digital assets, the judge said it had no direct role in the transactions.
Engelmayer also rejected the lawsuit’s position that Coinbase had not actively solicited any investments. Former customers said the exchange promoted the sale of tokens through purported value propositions and “airdrops” of free tokens. However, the judge decided that these were marketing efforts rather than a form of active solicitation.
Engelmayer also said he did not reach a conclusion whether the digital assets are actually securities. However, the judge said he presumed they were in order to fulfill Coinbase’s dismissal request.