Coinbase Reaches $100 Million Settlement With New York Regulators

Coinbase, Logan Paul grift, SBF

The World of Coinbase

[DB] Coinbase Reaches $100 Million Settlement With New York Regulators: NYT

Turns out Coinbase just paid $50 million to New York Regulators as a fine and vows to spend $50 million to improve compliance. This is because Coinbase allowed someone to open an account with minimal KYC and funnel $150 million from a stolen bank account to crypto.

This is crazy that it didn’t raise red flags in their systems. I have heard of people getting their coinbase account locked for way less money like mid 6 fig and asked for pretty much every KYC you can think of.

Apparently the person who funnelled $150 million of stolen money just submitted an online request form to raise their withdrawal limit by 50 times and then it was approved. Coinbase was only aware of it 6 days after the person funnelled the money out because the company whose $150 million was stolen asked Coinbase what’s up. ‘Sophisticated’ frauds at it again. How will we ever stop this.

The World of Influencer NFTs

Logan Paul is under attack by Coffeezilla after he exposed his cryptozoo grift. I didn’t really like Coffeezilla because he tends to have some really bad takes like thinking USDT is going fall and fear mongering about it but then he started bringing more light to the FTX fraud and now focusing on Logan Paul’s NFT project. I haven’t watched his videos because each episode is 30 minutes long but Logan Paul has been involved in many NFT projects over the past 2 years. From his photography project to cryptozoo to the fractionalised NFT site to his Pokémon card thing and more. I am assuming he is just like other celebrities and influencers who took advantage of their dumb audiences by pump and dumping their NFTs to profit off of. If they never worked on the project again, that’s called a soft rug which means that it’s a shitty thing to do but it’s not illegal.

This project would have just ended up as one of those NFT projects by Logan Paul but thanks to the good work by Coffeezilla and using his audience, he was able to bring light to this issue and put it in the spotlight which I am sure Logan doesn’t like.

There is no reason in the world why you would need to buy a Logan Paul NFT project or any project endorsed by celebrities. Often times they are paid by the NFT project to just be an ambassador and get paid millions for promoting their shitcoin. If you really want to buy an NFT, at least buy something that is popular amongst NFT people instead of celebrities.

TLDR: Influencer NFT scams. get reputation rekt Logan. gud guy coffeezilla.

The World of FTX

Just thought this picture was funny also trial in October 2023 so can’t wait to hear news about SBF constantly in 2023.