Yahoo Launches Metaverse Events, BitBoy Sues Celsius, Circle Launches Euro Stablecoin 

Written by Lindi Miti

June 17, 2022

Yahoo Launches Metaverse Events

Yahoo, a U.S.-based internet company, has partnered with Decentraland to create metaverse events for Hong Kong residents. The company will launch an NFT exhibition called The Abyss of Kwun Tong. The initiative is to aid Hong Kong citizens under lockdown due to Covid-19 restrictions. 

On the 9th of June, the Hong Kong government issued a new mandate requiring citizens to produce a negative Covid 19 test before entering public spaces. “We hope to use the Metaverse to connect people regardless of time and physical location,” said Leung Ching-Hsuan, the creative producer of the project. 

 Yahoo believes that the Metaverse is an attractive alternative for Hong Kong residents looking to engage in social activities while pandemic restrictions remain in force. The Yahoo metaverse will allow Hong Kong citizens to “retain humanity using technology.”

Bitboy Sues Celsius

Ben Armstrong, the famous cryptocurrency Youtuber Bitboy, is issuing a class-action lawsuit against Celsius and its CEO Alex Mashinsky. “If banks are evil, Alex Mashinsky is the devil incarnate,” tweeted Bitboy. Bitboy has over 1.45 million subscribers on his Youtube channel. 

Celsius, a cryptocurrency lending platform, halted deposits and withdrawals on their platform at the beginning of the week. Mashinsky broke his silence on Twitter and said that the company was working non-stop and that the community’s support and patience meant the world. However, the tweet did not reassure investors about their funds. 

Armstrong received a legal email from Celsius asking him to delete his tweets. “Here they come trying to silence me. I will not be deleting tweets. I did not dox this employee. His bio literally said worked at @CelsiusNetwork on a public account,” he wrote in a tweet.

Circle Launches Euro Stablecoin 

Circle, a peer-to-peer payments company, announced the launch of a new stablecoin backed by the Euro, called Euro Coin. The company is responsible for one of the most reputable stablecoins, the USDC. Euro Coin will use the same full-reserve model as USD Coin and launch on the 30th of June. 

Euro Coin will initially use the Ethereum Network. It will expand to other blockchains over time. Businesses can mint Euro Coin straight from the source by depositing euros into their Circle Account using Silvergate’s Euro SEN network.

Written by Lindi Miti © Crypto University 2022

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