CryptoSlate Wrapped Daily: Warner Music partners with OpenSea, Druckenmiller sees ‘big role’ for cryptocurrency as central bank trust evaporates CryptoSlate Wrapped Daily: Warner Music partners with OpenSea, Druckenmiller sees ‘big role’ for cryptocurrency as central bank trust evaporates
Crypto influencer Lark Davis allegedly made over $1M from dumping crypto projects, Ethernity up 174% ahead of Ethernal Labs HQ unveil, and much more in this edition of CryptoSlate Wrapped Daily.
3 min read
Updated: Sep. 30, 2022 at 2:43 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The biggest news in the cryptosphere for Sept. 29 includes investor Stanley Druckenmiller saying cryptocurrency has a big role to play as trust in central banks declines, ZachXBT alleging that crypto influencer Lark Davis profited over $1 million from dumping low-cap crypto projects and Warner Music teaming up with OpenSea to allow artists extend their fanbase in Web3 through NFTs.
CryptoSlate Top Stories
Druckenmiller sees ‘big role’ for cryptocurrency as central bank trust evaporates
Following the Bank of England’s £65 billion bond purchase to salvage the U.K. pension schemes, investor Stanley Druckenmiller told CBNC that the public could turn to cryptocurrency as trust in the banking system declines.
“I could see cryptocurrency having a big role in a Renaissance because people just aren’t going to trust the central banks.
Ooki DAO moves to raise funds to defend against CFTC lawsuit
In response to the CFTC’s complaint against Ooki DAO, community members have unanimously agreed to plans of raising funds to defend the DAO.
Ooki DAO is looking to withdraw some funds from its treasury, submit a Gitcoin grant request for fundraising, and sell NFTs to support its legal defense.
ZachXBT alleges crypto influencer Lark Davis made over $1M dumping crypto projects
On-chain investigator ZachXBT outlined eight instances where Lark Davis allegedly promoted low-cap projects only to dump the tokens on his followers.
10/ On November 9, 2021 Lark Tweeted out he doubled his position in BMI.
While it is entirely possible he has an alt wallet from his main wallet it is clear he did not double his position from his main wallet.
(unfortunately can’t ask him since he blocked me months ago) pic.twitter.com/aTivN16rgd
— ZachXBT (@zachxbt) September 29, 2022
According to the investigation, Lark made over $1 million from promoting low-cap projects between February and November 2021.
Warner Music partners with OpenSea to give artists access to new Drops feature
Warner Music Group has inked a partnership with OpenSea to allow WMG artists to extend their fanbase in Web3 through NFTs.
The selected artists will receive access to “drops product” which will allow them to have personalized landing pages on OpenSea and host their limited-edition projects.
Ethernity up 174% ahead of anticipated announcement at Decentraland meetup
Ethernity chain stood as the outlier in a declining market in the last 24 hours, after its ERN token posted a gain of over 174%.
ERN’s price spike could be linked to anticipations forerunning the unveiling of the Ethernal Labs HQ in the Decentraland metaverse on Sept. 29.
SEC charges Hydrogen for profiting over $2M from market manipulation
Market-making firm Hydrogen is in a legal battle with the SEC for allegedly colluding with South African-based Moonwalker to manipulate the price of its unregistered Hydro token.
The accused is said to have intentionally inflated the trading volume of Hydro, only to cash out over $2 million from investors’ funds.
Crypto’s utility driving adoption in Sub-saharan Africa – Chainalysis
Out of the $100.6 billion worth of crypto transactions recorded in Sub-saharan Africa between July 2021 and June 2022, 80% of the transactions were retail transfers of less than $1000.
Despite having the lowest transfer volume among countries analyzed by Chainalysis, Sub-saharan Africa still has the highest number of small retail payments and use of P2P exchanges.
Sweden’s central bank tests CBDC for retail and international remittance payments
Sweden’s central bank has collaborated with the Bank of International Settlement (BIS), to test its CBDC “e-krona” for cross-border payments across Israel and Norway.
The central banks of Israel and Norway will connect their CBDC system to Sweden’s e-krona platform for the “Project Icebreaker” experiment.
Facebook, Instagram open NFT feature to all US-based users
Meta has finally opened its NFT feature to all US-based users. Creators and collectors can connect their digital wallets to share their NFT collections across Facebook and Instagram.
Cross-posting or sharing of the NFT collections will not attract any fees to the user.
News from around the Cryptoverse
Wells Fargo rates Coinbase as underweight
Wells Fargo has assigned an underweight stock recommendation to Coinbase Global (COIN) shares, CNBC reported.
Analysts at the leading bank predict that the COIN shares will drop below $57 as pressure from the crypto winter and increased competition among crypto exchanges continues.
Amule protocol goes live on Mainnet
Solana-based risk protection protocol Amulet announced the launch of its mainnet today.
The protocol is designed to provide advanced yield protection for digital assets via the Protocol Controlled Reserves (PCR).
Crypto Market
In the last 24 hours, Bitcoin declined by 2.38% to trade at $19,474, while Ethereum declined by -1.17% and is currently trading at $1,333.
Biggest Gainers (24h)
- XRP (XRP): +13.89%
- Orbs (ORBS): +12.6%
- GensoKishi Metaverse (MV): +9.33%
Biggest Losers (24h)
- Reef (REEF): -8.66%
- Wemix (WEMIX): -6.02%
- Bitgert (BRISE): -5.68%
Mentioned in this article
Author 
Christian Nwobodo
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,361.05
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Ethernity Chain
$2.22829
Ethernity Chain is a community-oriented platform that produces limited edition authenticated NFTs and trading cards created by your favorite artists and endorsed by notable figures.
Meta
Meta (formerly known as Facebook, Inc.) is an American online social media and social networking service company based in Menlo Park, California.
Chainalysis
Chainalysis builds trust in blockchains between people, businesses and governments.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.