UKISS Web3 round-up of the biggest headlines in cryptocurrency, NFTs, blockchain, and the metaverse.

Web3 round-up: US seizes $3.6 billion worth of Bitcoins, crypto investments skyrocket in Singapore

  • US seizes $3.6 billion worth of Bitcoins 

  • Crypto investments soar in Singapore

  • NFTs come to OnlyFans 

  • BBC cancels show on crypto-millionaire

You’re reading this week’s round-up of the hottest news in crypto, blockchain, and non-fungible tokens (NFTs). Let’s start!

$3.6 billion worth of BTC 

This week, the US announced that it seized $3.6 billion worth of Bitcoins linked to the Bitfinex exchange hack in 2016. In connection to the case, authorities arrested a couple accused of trying to launder the funds, which reportedly went to one of their accounts during the security breach. Named Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, the latter was a peculiar figure who posts business advice and cringe rap videos on social media. More than 2,000 unauthorised transactions happened during the incident. 

Crypto investments surge in Singapore

Major auditing firm KPMG released fintech insights this week. One noted how the value of crypto and blockchain investments had jumped more than ten times in Singapore. Related investments shot up to $1.48 billion, up from $110 million in 2020. The rise in such investments was partly due to the local government’s efforts to stimulate the capital market, KPMG said. Despite pending regulations targeting speculative digital assets, the firm foresees the investment trend to continue. 

NFTs come to OnlyFans 

OnlyFans users can add verified NFTs as profile pictures on the subscription-based platform. Known for its adult content, OnlyFans grew popular during the pandemic as content creators sought new ways to make money amid lockdowns. The platform joins other social media sites like Twitter and Reddit to incorporate digital tokens within their respective online communities. 

BBC cancels show on dubious trader

UK broadcaster BBC cancelled a documentary about a self-made crypto millionaire following claims that the man, named Hanad Hassan, was a scammer. The documentary portrays Hanad as a cryptocurrency trader with a charitable cause – except that the charity in question involved a now-defunct digital token known as Orfanu.

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