Professional American footballer Tom Brady is reportedly changing the direction of his NFT-focused firm Autograph, which is now eschewing NFTs.
Here are some developments in the crypto world over the past few days.
Professional American footballer Tom Brady is reportedly changing the direction of his NFT-focused firm Autograph, which is now eschewing NFTs.
On July 6, The New York Times, citing people familiar with the company, reported that Autograph바카라™s marketing has 바카라śquietly바카라ť eliminated crypto jargons, like NFT, and switched focus away from marketing them in favour of aiding stars to foster fan loyalty.
Brady co-founded the business in 2021 to assist celebrities in selling NFTs. In January 2022, he secured a $170 million in a Series B funding round and set up NFT agreements with ESPN, PGA Tour, and other organisations. According to a source, cited in the report, Autograph바카라™s revenue allegedly plummeted in 2022.
BarnBridge DAO Halts Work On DeFi ProtocolÂ
Some DAO members joked about the situation while others believed there may be an ulterior motive at play after BarnBridge halted its work on DeFi protocol.
BarnBridge has reportedly instructed its members to halt 바카라śall work바카라ť on the project in response to a rumoured investigation by the US Securities and Exchange Commission (SEC).
A lawyer representing the decentralised autonomous organisation, Douglas Park, informed users of the development in a post to the platform's Discord channel on July 6.
바카라śI am letting you know that the Securities and Exchange Commission is investigating BarnBridge DAO and individuals associated with the DAO,바카라ť Park said.
Co-founder Tyler Ward confirmed Park's message was true on BarnBridge's Discord. Â
It is alleged that Park and Ward failed to address the SEC바카라™s probe into BarnBridge DAO. The investigation is reportedly 바카라śongoing바카라ť and 바카라śnon-public바카라ť.
Multichain MPC Bridge Sees Over $100M Outflows, Sparking Fears Of Exploit
Some multichain contracts on Ethereum saw withdrawals of more than half of their deposits, sparking fear that an exploit is underway. Such fears are normally triggered by abnormal big outflows from multichain contracts. It was reported that on July 6, observers discovered withdrawals worth $5 million from Moonriver, $666,000 from Dogechain, and about $102 million from Fantom bridge on Ethereum.
Additionally, the Ethereum contract for the Dogechain Bridge saw a withdrawal of $666,000, or over 86 per cent of its deposits. Also, only over $700,000 worth of USDC and Tether (USDT) were left in the Multichain Moonriver bridge contracts on Ethereum after withdrawals totalling $5,872,661.