Crypto Market Overview June 2nd | Dex-Trade
Ex-OpenSea Employee Arrested for Insider Trading
US police yesterday detained former OpenSea NFT platform product designer Nathaniel Chastain on charges of selling 45 tokens through insider trading. This is the first such case in the crypto industry. According to prosecutors, which the investigation confirms, Chastain bought NFTs at the release price, waited for a while, and then put the tokens up for sale at a time when demand for them skyrocketed, which allowed him to receive high profits from copyright digital works. One of the tokens the prosecution is looking at was the "Spectrum of Ramenfication" NFT, which Chastain was able to sell for more than four times what the release indicated. And the main suspicion was caused by the fact that NFT was registered only on the eve of the sale in the evening, and was sold the next morning. Authorities now claim that Chastain had full access to information about exactly which NFTs would be listed on the platform and when exactly. This gave him an idea of what art to buy in a particular time period in order to make the most profit in the shortest amount of time. Now Chastain is accused of wire fraud and money laundering. If the injured party can argue their accusations, the former OpenSea employee faces 20 years in prison.
U.S. Energy Company to Mine Crypto on Oman's Gas Resources
Denver-based energy operator Crusoe Energy, which converts fuel energy into computing power for mining cryptocurrencies, will use gas released from mining in Oman as a resource for crypto mining. Bloomberg reports. At the moment, Oman allocates 21% of all produced gas for export, some of which simply burns during production. However, the country's authorities intend to completely eliminate the "flaring" of the natural resource by 2030, and Crusoe Energy can at least partially help in the implementation of this plan. The company intends to locate an office in the country's capital, Muscat, and use its installations to capture gas waste at well sites. Representatives of Crusoe Energy have already held a seminar with the largest energy producers in Oman, such as OQ SAOC and Petroleum Development Oman. The CEO of the American company, Chase Lochmiller, announced the launch of the first pilot project by the end of this year. According to the UN Economic and Social Commission in Western Asia, Oman flares about 10% of its produced gas. How effective its use for mining will be is still a mystery.
ParallelChain Tests the First Multi-Biometric Crypto Wallet
ParallelChain Lab invites iOS beta testers to sign up for an early test version of native ParallelWallet, which uses multi-biometric user authentication to improve the security of funds. ParallelWallet includes a multi-biometric user authentication system based on three main criteria: face anti-spoofing, voice/speech, and handprint recognition technology. The developers claim that this is the world's first security system for crypto owners, which completely eliminates the need to use passwords. The release states that users can also use different combinations of bio-keys for different actions. For example 3 authentication criteria for logging in and 2 for sending confirmation of transactions. At the same time, ParallelChain Lab claims that it will not have access to any biometric data of users and will not even be able to manage them, since this information is stored in an unreadable format in their personal ParallelChain blockchain. Looking forward to their collaboration with Meta...