Chipotle Fans Can Now Pay With Crypto, Solana Suffers Fifth Outage in 2022
This week in crypto: Chipotle taps into Flexa to accept crypto, Shiba Inu creator Ryoshi steps down, OpenSea ex-employee charged with NFT insider trading, and more.
Shiba Inu (SHIB) founder Ryoshi deletes all Tweets and blog posts
Shiba Inu’s pseudonymous creator Ryoshi has stepped down from the community after abruptly deleting his Twitter and Medium accounts on May 30.
While this came as a shock to many in the crypto community, Ryoshi once hinted at the possibility of this happening in a Shiba Inu blog: “I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards frens.” [1]
The news hasn't negatively impacted the memecoin's price despite an overall 86% drop since its all-time high in October 2021. [2]
Chipotle accepts cryptocurrency in U.S. stores
Craving a burrito or bowl? Chipotle fans will be happy to know that they can now pay for their food with crypto in nearly 3000 restaurants nationwide. This feature is made possible through Flexa, a digital payments platform that accepts around 98 cryptocurrencies. Customers can pay by downloading the Gemini or SPEDN app and tapping it in-store. [3]
Former OpenSea employee charged with first ever case of NFT insider trading
On June 1, the U.S. Department of Justice announced criminal charges against a former OpenSea employee for wire fraud and money laundering related to NFT insider trading.
Nathaniel Chastain, a former product manager at OpenSea, was responsible for selecting NFTs to be featured on OpenSea’s homepage. Between June 2021 and September 2021, he secretly bought dozens of NFTs before they were featured and sold them at profits of two to five times his initial purchase price. [4]
Though this is the first case of digital asset insider trading, it may not be the last, and could raise more questions around regulations and NFT trading policies.
Solana suffers its fifth outage this year
On June 1, Solana experienced a four-hour network outage because of a bug in durable nonce transactions – a type of transaction for offline use-cases. To fix the outage, the network was restarted with this feature disabled. This is Solana’s fifth outage of the year and SOL prices are down 14% in a fall below $40. [5]
Sources
2. Shiba Inu Founder Deletes Social Media Posts, Steps Down From Community
3. Chipotle Will Now Accept Cryptocurrency in US Stores
4. Former Employee Of NFT Marketplace Charged In First Ever Digital Asset Insider Trading Scheme
5. Reliably Unreliable: Solana Price Dives After Latest Network Outage
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