Pocket News

Welcome to Clutch’s weekly pocket news.


Welcome to Clutch’s weekly Pocket News. 👛 This week’s crypto news includes OpenSea’s plan to bounce Ethereum forks using Proof-of-Work after the merge🙅🏻‍♀️, MicroStrategy’s founder being sued for tax fraud, and Crypto.com adding “Detail-Orientated” to their employee requirements😬. In Clutch news, we updated our login method and were recently involved in a web event, Now I Know My NFTs: Virtual Summit, where we went through the fundamentals of Web3. 🔐 

Clutch Wallet

A non-custodial social wallet offering users an all-encompassing transacting experience underpinned by social, media, education, and seamless web3 integration.

OpenSea bounces Eth forks 🙅🏻‍♀️, Billionaire Michael Saylor is being sued for tax fraud💰, Crypto.com receives default judgment on refund case 👩🏼‍⚖️

OpenSea bounces Eth forks 🙅🏻‍♀️, Billionaire Michael Saylor is being sued for tax fraud💰, Crypto.com receives default judgment on refund case 👩🏼‍⚖️

We recently updated our login process requiring only your email to log in rather than a password. This feature allows you to access your Clutch Wallet by authenticating your account through an email link we send you instead of fishing for a password. Check out this new feature here!

Crypto News

OpenSea plans to ditch Eth forks that don’t support PoS after the merge. Period.

The largest Web3 marketplace for NFTs announced they would focus on supporting NFTs upgraded on the Proof-of-Stake consensus mechanism and avoid NFTs using Proof-of-Work Ethereum forks. Forks are another version of the blockchain with different features than the original blockchain.

MicroStrategy founder Michael Saylor took “No taxation without representation” to heart according to the District of Columbia.

The billionaire entrepreneur allegedly avoided paying more than $25 million in taxes within ten years while living in D.C. He claimed he was residing in a lower-tax area when he was really residing in D.C. The D.C. attorney general tweeted that his office is also suing MicroStrategy for helping Saylor evade taxes. Saylor recently stepped down as CEO but remains on the board.

AUS Supreme Court released default judgment in a case where Crypto.com accidentally refunded a user $7.2 million instead of $68.

A Crypto.com employee mistyped the account number into the refund total in May 2021, but didn’t notice the mistake until seven months later in an audit. The cryptocurrency exchange sued Thilagavathy Gangadory to reclaim their money, but not before she transferred some of the cash to a joint account. The Australian Supreme Court released a default judgment that Gangadory pays back the full amount including interest.

Crypto.com pulls the plug on a $495 Champions League Sponsorship deal.

The crypto exchange scrapped the five-year sponsorship because of regulatory concerns in the United Kingdom, France, and Italy. If the deal had gone through, Crypto.com advertisements would be present for the UEFA Champions League for five years. The exchange is known for sports advertising like the $700 million deal to rename the Los Angelos Staples Center to Crypto.com Arena for 20 years. 

Markets wyd?

Bitcoin (BTC) is down 1.68%, while Ethereum (ETH) is up 5.31% in the last week. Bitcoin finished the week below $20,000. Ethereum hit a high of $1582.78. 

Community Update

Four Tips for Wallet Security on MyBFF

We did a quick one-minute video on how to keep your wallet safe.

Check it out here!

Upcoming Events

Now I Know My NFTs: A Not-So-Scary Guide to Web3 for Creatives

Topic: Cold Wallets: All You Need to Know

Date: Tuesday, August 30

Time: 1 PM ET

Written By

Nargiza Schmidt