Coffeezilla, a YouTuber and crypto investigator, revealed that American mixed martial artist Dillon Danis promoted a fake NFT project without disclosing that he received $1,000 for the advertisement. We just tricked Dillon Danis into promoting a fake NFT project. We paid him $1,000 to post, he didn't disclose it was an #AD, and posted copy that literally spells out S.C.A.M. pic.twitter.com/SVo2SCoN9q — Coffeezilla (@coffeebreak_YT) February 3, 2023 In the promotion, Danis tweeted out a digital image along with a website URL, which according to Coffeezilla, “literally spells out S.C.A.M.” A further investigation from Cointelegraph shows that the website URL was …

The memecoin phenomenon didn’t prove as effective in the last month's start of year crypto market rally, as the gains of the top cryptocurrencies in this category barely outperformed Bitcoin. The monthly gain of BTC stood at 44.5%, while the top two meme-based coins DOGE and SHIB gained 27% and 40.7%, respectively. Doge needs a market moving catalyst Dogecoin is losing its popularity as its most prominent supporter Elon Musk is reportedly developing an independent Twitter Coin instead of integrating his favorite cryptocurrency with the social media platform owned by the entrepreneur. For the greater part of 2022, DOGE/USD performed …

The South African grocery retailer Pick n Pay is expanding its Bitcoin (BTC) coverage to all 1,628 stores across the country following a three-month pilot testing phase in 39 locations. As part of its nationwide rollout, store customers will be able to pay for items using cryptocurrency via smartphone apps or by scanning a QR code and accepting the South African rand's conversion rate at the time of payment. Good news, everyone! CryptoQR is now active at all Pick-n-Pay stores across South Africa, including PnP express and clothing shops! You can also buy Airtime and Electricity, Plane and Bus tickets, …

Twitter chief Elon Musk has reportedly instructed his developers to build the platform’s payments system in such a way that crypto functionality can be added in the future. According to a Jan. 30 Financial Times report, two people familiar with Twitter’s plans said the payments feature will support fiat currencies to start but be built to accommodate cryptocurrencies should the opportunity arise. Twitter has long teased bringing payments to the social media platform — forming part of Musk’s stated plan to make Twitter an “everything app.” Buying Twitter is an accelerant to creating X, the everything app — Elon Musk …

A bill introduced to the New York State Assembly on Jan. 26 would allow state agencies to accept cryptocurrency as a form of payment for fines, civil penalties, taxes, fees, and other payments charged by the state. JUST IN: A New York Senate has introduced a bill to allow #Crypto as a form of payment — Interpret Crypto (@interpretcrypto) January 27, 2023 New York State Assembly Bill A523 was introduced by Democratic Assemblymember Clyde Vanel, who is often seen as a crypto-friendly politician. It allows state agencies to enter into “agreements with persons to provide the acceptance, by offices of …

Texan Republican Senator Ted Cruz is pushing the United States Congress to adopt cryptocurrency within its halls using an incentive both sides might agree on — food. Cruz introduced a concurrent resolution dated Jan. 25 that would only allow vending machine and food service contractors that accept crypto as a payment option within the U.S. Capitol. If adopted, the Architect of the Capitol, the Secretary of the Senate and the Chief Administrative Officer of the House of Representatives would be required to find the crypto-accepting food and vending firms. At the time of writing the text of the resolution was …

Internet payment processor Stripe is reportedly eyeing a public offering and has set a 12-month timeline to explore the possibility. Stripe has hired Goldman Sachs and JPMorgan Chase to advise on the feasibility and timing of a public-market debut, according to a Jan. 26 report by The Wall Street Journal. A source with knowledge of the matter told the Journal that Stripe's executives will either take the company public or allow employees to sell shares in a private transaction. The Journal also reported that Stripe’s management is unlikely to pursue a traditional initial public offering because the company doesn’t need …

The chief executive of credit card giant Visa remains confident that blockchain-powered solutions can be integrated into its services and offerings to power the next generation of payments. Speaking on a call at Visa’s annual stockholder meeting on Jan. 24, outgoing CEO Al Kelly — who will officially step down on Feb. 1 — briefly shared the firm’s plans for Central Bank Digital Currencies (CBDCs) and private stablecoins. According to a Jan. 24 report from San Francisco Business Times, Kelly said: “It’s very early days, but we continue to believe that stablecoins and Central Bank Digital Currencies have the potential …

Satoshi Nakamoto, the creator of Bitcoin (BTC), originally envisioned cryptocurrency as a form of payment between two people. This is a key reason why blockchain, the underlying technology of the crypto ecosystem, found its best use cases within the payments sector. Blockchain-based payment solutions, widely known as crypto payments, allow for a truly global financial network. Cryptocurrencies are detached from geographical restrictions, allowing for seamless transactions between different regions across the globe. The robust technology and potentially minimal fees introduced with cryptocurrency make this type of payment an ideal fit for transaction-heavy digital sectors such as online shopping or e-commerce. …

Telecom giants have been ruling the communications sector for ages. However, as Web3 solutions infiltrate the mainstream, a new type of app is aiming to disrupt that industry. Created by Emeldi, a leading software provider in the telecom space, the EMG super-app has set out to bring connectivity and access to mobile services to underserved populations around the globe. To learn the latest updates about EMG and its mission, tune in to the Cointelegraph AMA with Emeldi. Get the inside scoop from Emeldi Group CEO Dusan Bystriansky, CEO & Founder Mark Bystriansky, and CBO & Co-Founder Igor Zavadovsky, on January …

A Hong Kong-based blockchain company has launched a digital payments system aimed at bridging the gap between stablecoins and Central Bank Digital Currencies (CBDCs). Red Date Technology, the blockchain infrastructure firm which is also leading one of China’s blockchain efforts, launched the Universal Digital Payment Network (UDPN) on Jan. 19 during the World Economic Forum (WEF) 2023 meeting in Davos, Switzerland. According to its whitepaper, the UDPN is a distributed ledger technology (DLT) platform that would serve a similar purpose to what the SWIFT network does for banks, but for stablecoins and CBDCs. Tech engineering company GFT Technologies and the …

Customers are suing Compass Mining for over $2 million, alleging fraud, after the company cut ties with Russian hosting company Bit River and failed to return customers’ Bitcoin machines, citing a non-applicable United States sanction as the reason. According to a court document filed on Jan. 17, Compass Mining issued a notice in April 2022 that it has terminated its “relationships and dealings with Bit River” due to the sanctions imposed by Executive Order 14024. It is alleged that Compass “did not offer” to return or even retrieve the assets that its customers entrusted the company with to host at …