Crypto Market Overview January 18th | Dex-Trade

Crypto Market Overview January 18th | Dex-Trade

NFL Superstar Rob Gronkowski Is Up to His Neck in a Crypto Scandal

Rob Gronkowski of the Dallas Mavericks has been embroiled in a major lawsuit due to his "bosses" active participation in crypto campaigns. The authors of the class-action lawsuit against the football team and its owner, billionaire Mark Cuban, decided to invite Gronkowski to court as well, since he actively supported the bankrupt company Voyager Digital (VD). In September 2021, Gronkowski became a brand ambassador for VD and his viral endorsement allegedly played a role in attracting customers to invest in the controversial product. The lawsuit alleges that numerous customers were misled by Cuban and others who wrongfully advertised the platform. By the way, in court documents, the plaintiffs' lawyers said they are considering filing personal lawsuits against Gronkowski, Cuban and other defendants associated with Voyager. The appendix to an email attached to their petition alleges that testimony from both Gronkowski and NASCAR driver Landon Cassill, who was also heavily involved in the VD campaign, has been or is pending. Notably, when Gronkowski's agent, Drew Rosenhaus, was approached for comment on the ongoing lawsuit, he refused to say anything. In addition, it is not known at this stage when the prosecutor's office will decide to add Gronkowski as an official defendant. Some crypto influencers feel that Voyager Digital should look into this matter on its own.


SushiSwap's Jared Gray Announces Company's “10x” Market Share Gain

The CEO of decentralized exchange SushiSwap, Jared Gray, just a month after reporting a significant shortfall in the company's treasury, revealed several planned upgrades to the platform, which he claims are designed to “10x” increase its market share in 2023. Gray became the “Head Chef” of SushiSwap last October. At the time, he stated that the company would focus on a set of products to make the brand more sustainable. Thus, according to the recently announced plans, the company’s DEX aggregator should debut as early as the first quarter of 2023, while the launch of the “decentralized incubator” is scheduled until 2024. By the way, a DEX aggregator is a tool that provides users with access to numerous DeFi protocols. It was developed by Gray in “stealth mode” over the course of the past year and is on the entrepreneurial engineer's list of goals to promote company scalability and resilience. By the way, Gray let slip that “many covert projects” are currently in development. Their list also includes the long-awaited NFT placement and trading platform called Shoyu, which is also due to launch in the first quarter along with a permanent DEX platform. In his latest statement, Gray assured: “We took measures to secure our runway for multi-year operations.”


Finnish Communications Minister Pushes DAO into EU

At the World Economic Forum in Davos, Finland's Minister of Communications, Timo Harakka, said that Brussels should consider a law recognizing decentralized autonomous organizations (DAOs) as soon as possible and take measures to spread smart contracts throughout the EU. According to Timo Harakk, this move could prevent the need to change thousands of laws or countries that undermine each other's interests in the race to attract innovative businesses: “There are a lot of new players and actors in the Web3 world… not reflected very well in existing legislation. Take a DAO for instance: Where does legislation stand?” Harakka insists it is necessary to "think multinationally" to avoid "harmful regulatory competition" between the bloc's 27 members and to prevent thousands of different laws governing different types of contracts from being individually changed. This approach is reminiscent of the Crypto Assets Act (MiCA), which aims to create a single standard for every country if passed. Indeed, regulators around the world are trying to classify and control decentralized initiatives such as financial applications that do not have a central creditor. Some are inclined to think that decentralization is a myth, since in practice there is always someone who controls everything. However, the sooner the terms of regulation are adopted, the easier it will be to direct the DAO in a civilized direction.