So technically, you are saying that it is just a way to launder money, and crossing money over borders as well is easier? I read some of the articles[1] that I read highlighted that a little bit. Because physical art is just the same. So I'm not at all surprised that people or other enthusiasts like this are saying it like that.
I'm not going to be surprised if it's up for super regulation or something. It's quite easy upon a Google search on how to do it. [2] the article is for educational purposes
References:
[1] - https://kyc360.riskscreen.com/news/are-nfts-being-used-for-money-laundering-yes-they-are-claims-crypto-expert/
[2] - https://medium.com/yardcouch-com/how-to-launder-money-with-nfts-56f1789e5591
Topic: Former head of product for OpenSea indicted after insider trading scandal - page 2. (Read 286 times)
June 01, 2022, 10:18:56 PM
June 01, 2022, 08:49:55 PM
All I ever needed to know about NFTs is they're NON-FUNGIBLE TOKENS! He'hem, so sorry for my outburst. Sort of.
Digital art is great, I love it. Those who appreciate it often purchase prints to hang prominently and enjoy. It's been monetizable for decades. Unless the price you pay for your pretty picture includes reproduction rights, it's nothing but a pretty picture.
Digital art is great, I love it. Those who appreciate it often purchase prints to hang prominently and enjoy. It's been monetizable for decades. Unless the price you pay for your pretty picture includes reproduction rights, it's nothing but a pretty picture.
June 01, 2022, 08:20:51 PM
I am not quite sure where to share this news, however, Opensea marketplace is more on topic in service discussion than altcoin discussion.
In any case, does everyone remember the hype on NFTs when many of them were selling for more than $500,000 per piece? Yes, there were BAYCs and Cryptopunks that were sold for excessive amounts of money. I argued that because of the way the marketplace is created, it was very easily manipulated by one person to wash trade the NFT by himself using 2 different wallets. However, there were people telling me that it was only fud hehehee.
A grand jury has indicted the former head of product at non-fungible token (NFT) platform OpenSea on wire fraud and money laundering charges after an insider trading scandal.
Chastain was previously accused of using secret Ethereum wallets to purchase NFTs based on confidential information that they'd soon be featured on OpenSea's home page. He was allegedly responsible for selecting which NFTs would be featured on the homepage, according to the indictment. From about June 2021 to September 2021, he sold these pieces for two to five times his initial purchase price shortly after the value jumped from a front-page feature, according to the DOJ's indictment.
Read in full https://www.theblockcrypto.com/linked/149685/former-head-of-product-for-opensea-indicted-after-insider-trading-scandal
In any case, does everyone remember the hype on NFTs when many of them were selling for more than $500,000 per piece? Yes, there were BAYCs and Cryptopunks that were sold for excessive amounts of money. I argued that because of the way the marketplace is created, it was very easily manipulated by one person to wash trade the NFT by himself using 2 different wallets. However, there were people telling me that it was only fud hehehee.
A grand jury has indicted the former head of product at non-fungible token (NFT) platform OpenSea on wire fraud and money laundering charges after an insider trading scandal.
Chastain was previously accused of using secret Ethereum wallets to purchase NFTs based on confidential information that they'd soon be featured on OpenSea's home page. He was allegedly responsible for selecting which NFTs would be featured on the homepage, according to the indictment. From about June 2021 to September 2021, he sold these pieces for two to five times his initial purchase price shortly after the value jumped from a front-page feature, according to the DOJ's indictment.
Read in full https://www.theblockcrypto.com/linked/149685/former-head-of-product-for-opensea-indicted-after-insider-trading-scandal
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