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The suit claims that the artist's "deliberate effort" to devalue Bored Ape Yacht Club NFTs is "no mere monkey business."NFTs, or non-fungible tokens, are unique blockchain tokens that prove ownership over digital or physical assets, such as pieces of artwork or items in video games.

Ripps, referred to in the suit as "a self-proclaimed 'conceptual artist,'" is the creator of RR/BAYC, an  NFT collection that features identical BAYC images he did not purchase. Ripps first began minting his RR/BAYC NFTs on May 13 on Foundation, and after Yuga sent him an initial DMCA takedown claim, it quickly rescinded the claim when Ripps fought it. OpenSea, the largest NFT marketplace, has since removed Ripps's collection because of "a claim of intellectual property infringement," but not before it saw nearly $3.5 million in total volume traded.more info

The alleged removal is a bit strange considering Bored and Hungry only opened its doors back in April.The Los Angeles Times reported Friday that recently opened NFT-themed burger joint Bored & Hungry no longer accepts cryptocurrency as a form of payment for its food.

When questioned, one Bored & Hungry employee told the Los Angeles Times “Not today — I don’t know.” The individual didn’t give any indication of when the decision was made to cut crypto from the menu of payment options, nor did they know if crypto payments would be making a return.more

"It is now time for Congress to begin the process of considering and ultimately passing authorizing legislation for the issuance of a U.S. CBDC," said Representative Jim Himes. Connecticut House of Representatives member Jim Himes has released a proposal aiming to start a dialogue on the United States potentially launching a central bank digital currency, or CBDC.

In a white paper released on Wednesday, Himes urged Congress to begin exploring the rollout of a digital dollar issued by the Federal Reserve to prevent the government from falling behind in innovations in financial technology. According to the U.S. lawmaker, a CBDC “should not be thought of as replacing legacy payment systems and currencies but as an additional alternative for consumers and businesses.”

The white paper laid out a proposal in which a CBDC could present concerns over transparency, security and privacy when compared with fiat currency. Himes added that any regulatory framework on CBDCs enacted by Congress should include “strong user identification processes that require intermediaries to certify the identity of wallet holders,” with the Federal Reserve and “participating commercial entities” establishing guidance.more

Dogecoin helped get people through the door, and NFTs can serve a similar aim, said Christine Brown, now COO and co-founder of NFT startup Floor. When meme cryptocurrency Dogecoin skyrocketed in price early last year, vaulting from less than a penny to a high above $0.73, crypto and stock trading app was one of the biggest beneficiaries—DOGE alone represented 34% of Robinhood’s crypto revenue in Q1 2021.

But the Dogecoin boom eventually went bust, with the long-running coin now down 92% from its peak price set in May 2021. And Robinhood, which had warned of the risks associated with such a volatile asset, took some flak for being a key destination for trading the jokey, dog-themed crypto.more

The bill will now go back to the country’s National Assembly for debate. But President Cortizo last month said he wanted guarantees that the law would comply with global anti-money laundering standards—hinting he wouldn’t sign it immediately.

“I have to be very careful if the law has clauses related to money laundering activities,” he said in a May 19 interview with Bloomberg.

The bill wants to let Panamanians buy everyday goods with cryptocurrency. Digital assets like Bitcoin, Ethereum, XRP, Litecoin and Stellar, would be a valid form of payment “for any legal civil or commercial operation,” including the payment of taxes, fees, and duties to the government. more

The collection’s CEO left after just three months and its average price is down 96% from its all-time high—despite signing with Hollywood mega-agency CAA. There are often hype cycles based on community interest and memes on social media, such as the Goblintown NFTs, which cost a minimum of 7.85 ETH ($14,600) two weeks ago despite an OpenSea description that is nothing more than gibberish and a community obsessed with urine and gargling into their mics (yes, really). Since then, the floor price has plunged to 3.15 ETH ($3,900), a sign the feces and urine NFT frenzy was short-lived.

Cool Cats were not safe from the fecal matter trend either. The ill poop it Ethereum NFT collection, created May 31, took shots at Cool Cats for “going to shit,” so to speak. The project created an NFT of a Cool Cat embedded in a literal pile of shit, with phrases like “Blue chip? More like 2 blue cat” and “I thought doodle was meant to be the last pussy collection.more information