Disney NFTs, Fnality funding, $2.1B of crypto at risk, and the XRP ETF hoax

A cyber security firm has found a Vulnerability in Old crypto wallets that Puts $2.1 billion of crypto at Risk good morning you're listening to The rise and crypto podcast by coin Telegraph with me Robert bags steering You through the crypto Cosmos with daily Dispatches from the digital Frontier if You want to stay ahead of the curbing Crypto make sure you click that follow Button grab yourself a coffee let's get Into It Okay let's start with a quick rundown of What we're covering today Disney is set To launch an nft platform with daa Labs Crypto.com has been granted a toy crypto License Goldman Sachs LED an enormous Funding round for finality a cyber Security team claims $2.1 billion of Crypto in Old wallets is at risk and a Ripple ETF hoax caused a brief spike in Price but will it affect the sec's ETF Approvals going forward okay so we have To start with Disney here Disney is one Of the most recognizable brands on the Planet and their formation of a Metaverse division was Flagship news for Those wanting to prove the legitimacy of Web 3 unfortunately in March of this Year that 50 person strong division was Torched as part of a plan to cut Disney's operating expenses by $5.5 Billion and lay off 7,000 staff well

Don't count Disney out of web 3 quite Yet as they are back with a vengeance Z Sun wrote yesterday today that Disney is To launch its own nft platform in Collaboration with Dappa Labs yesterday Dappa labs and Disney announced the Collaborative platform Disney Pinnacle That will allow fans to acquire digital Collectibles from the likes of Pixar Star Wars and I suspect many other of Their enormous IPS Disney Pinnacle will Be launching later this year on the Apple app store Google Play store and on The web it is built on the layer one Blockchain flow which dppa Labs also Created Flo is just the master of Partnering with big names Disney will be Joining the likes of the NBA NFL UFC Ticket Master Mattel and so on this Feels like major news in the nft world So I spoke to Zan about the story to get His thoughts yeah so I think we're Witnessing the next stage of the nft Evolution where nfts uh go from these Basic jpeg images minted on a blockchain To these vibrant web three communities Uh where nft holders can have for Example exclusive perks and these Communities themselves are sustained by Web two companies or projects that are Looking to Market their own brand so uh It's a very interesting time to be Invested in Nfts this really highlights how large a

Role nfts or digital Collectibles if you Want to dodge the vitrio are going to Play even in a crypto winter with the Nft bubble long since popped and SS Everywhere the biggest and most powerful Brands on Earth are continuing to Harness the Technology okay next up let's take a Look at crypto.com being granted a to Buy crypto license the US has proven a Difficult place to build a crypto Business which many countries around the World saw as an opportunity the Middle East in general has looked to welcome Crypto organizations with Saudi Arabia In particular making a lot of moves with Web 3 gaming Investments the United Arab Emirates has not shied away from this Opportunity either in fact Dubai has Become something of a crypto hub in the Past few years attracting some big Players in the space and hosting large Crypto and web 3 events now the crypto Exchange crypto.com has had its de buy Entity granted a virtual assets service Provider license by City Regulators Pending operational approval in the Press release crypto.com said that once Approved its local business with the Catchy name of cro Dax Middle East fze Can offer retail and institutional Investors exchange broker dealer and Lending and borrowing services CEO Chris Marlec said that crypto.com looks

Forward to working with Regulators to Contribute to Dubai's crypto industry And said the city is a leading Market When designing effective regulation Although there is some slow progress in Making the US less difficult to build Crypto businesses in the paths of least Resistance mostly reside in other Countries at present and the UAE is Definitely one to watch binance Dubai's General manager Alex Chad said that Unlike the US Dubai and the United Arab Emirates have provided a clear Regulatory framework for crypto firms to Follow this is really the heart of the Matter isn't it and this is where Countries like the US and the UK have Been severely lacking nobody wants to Build businesses on unstable Foundations okay now let's look at Finality the blockchainbased wholesale Payments firm that has now raised $158 million since 2019 Helen Parts Reported yesterday that Goldman Sachs Had led a $95 million raise for finality And it had a small guest Board of big Names throwing their money at this Funding round these include Barkley's Banko Sant andere in Lloyd's banking Group NASDAQ Ventures UBS and so on the Funds raised this time around will be Used to set up a round the-clock Global Liquidity management Network for new Digital payment models in wholesale

Financial markets and emerging tokenized Asset markets yeah I'm not sure I Understood most of that either what Finality is building can be used in a Number of ways but to me the best Description of its importance came from The Goldman Sachs head of digital assets Matthew mcder he said that the use cases Include instantaneous crossborder Cross-currency payments collateral Mobility and security transactions this Is why there's such a fuss about Finality they're utilizing blockchain to Remove friction from wholesale payments And transactions one way they're doing This is through building digital Versions of major currencies this Approach is sometimes called tokenized Cash and it could genuinely Revolution Uiz International payments which let's Be honest can be a Mess okay the next story is for the Crypto old God if you got into crypto Between 2011 and 2015 firstly Congratulations the chances are you saw Some gains people can only dream of few Things have ever been rewarded more Handsomely than getting into crypto Early however getting in early comes With its own difficulties including a Lack of infrastructure now a storm might Be thundering towards those early adoped Is Rand storm to be precise Ezra regera Reported yesterday that the cyber

Security company uncer has released Information on a serious security Vulnerability that affects crypto Wallets that were generated using web Browsers between 2011 and 2015 they have Estimated that $2.1 billion of crypto is At risk the team un ciphered were Working on a project to retrieve some Lost Bitcoin in a wallet created during These dates and while they were Presumably successful in that they Uncovered an issue with generated by Bitcoin JS but this doesn't only affect Bitcoin either the company highlighted Dogecoin Litecoin and zcash too the Advice here is straightforward and if You fall into that 2011 to 2015 category Or you know anyone who might heed their Advice they wrote If you are an Individual who has generated a self- Custody wallet using a web browser Before 2016 you should consider moving Your funds to a more recently created Wallet generated by trusted Software and finally we have yesterday's Ripple chaos black rocks Bitcoin ETF Filing is every other thought for many Crypto folk particularly as we near the Sec's first deadline for a decision However some good oldfashioned fake news Caused a brief spike in Ripple's price And some worry it puts the Bitcoin ETF Filing in Jeopardy yesterday Braden Lindrea covered the hoax xrp ETF filing

That brought about a brief but not small Spike in price the fake filing was Created by someone posing as black Rock's manager director Daniel schweer And after xrp pumped 12.3% in just 30 minutes it was Confirmed as a hoax and the price Tumbled back down again the bigger Question here is if it will affect black Rock's very real ETF application so why Could this be the case well the SEC has Previously criticized Bitcoin for being A market that can be manipulated there's No doubt that this sort of hoax and Market reaction adds Credence to that Bloomberg's ETF analyst Eric balinas Told coin Telegraph there's no doubt it Is a bad look that arguably validates The fraud and manipulation that SEC used As grounds for past denial however he Also said that he doubts any of this Will impact the situation with spot Bitcoin ETFs a partner at the law firm Piper Alderman and chair of blockchain Australia Michael Bina echoed the Sentiment stating it's unlikely an Isolated rumor such as this would Provide a legal basis for delaying ETF Applications already being considered Particularly where they are already Subject to deadlines as much as as that Seems like the logical reaction the SEC Has rejected spot Bitcoin ETF filings in The past over acts of Market

Manipulation and this sorts of thing is Certainly not a positive the fake xrp Filing has been referred to the Delaware Department of Justice so as balcon ass Puts it someone out there is crapping Their pants as we speak and rightly So okay that's it for today consider Yourself informed thank you for Listening to the rise and crypto podcast By coin Telegraph if you're enjoying These daily updates please make sure you Let us know by following subscribing or Leaving a review have a great day let's Do this again [Music] Tomorrow