Author: News Polite

Robinhood to launch a Web3 wallet, LimeWire inks deal with Universal and more

Popular trading platform Robinhood is creating a noncustodial crypto wallet that will be compatible with multiple blockchains.

The wallet will be a standalone application with the ability to store nonfungible tokens (NFTs) and connect to NFT marketplaces. A promo video released for the wallet shows a demonstration using Ethereum-based NFTs.

The app is a significant step for the company in providing crypto services. Prior to January 2022, trading crypto on Robinhood was a closed system with users unable to withdraw cryptocurrency.

On Jan. 21, Robinhood opened up crypto withdrawals to 1,000 users, allowing them to send crypto off the platform. That number was later expanded in April to the more than 2 million users on a waitlist.

Currently, the wallet is limited by an identity verification process and only supports seven assets: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ether (ETH), Ethereum Classic (ETC) and Litecoin (LTC).

Limeys

LimeWire, a peer-to-peer (P2P) file-sharing website from the early 2000s whose brand is now owned by an NFT marketplace, has secured a deal with Universal Music Group (UMG) for artists to launch NFT projects.

In a statement, UMG said the deal would allow its artists to offer NFTs featuring content such as audio recordings, bonus tracks, backstage footage, images and other exclusive material to sell to fans or collectors.

Holger Christoph, UMGs senior vice president of digital business for Central Europe of UMGs, said that the company is “fully embracing the exciting Web3 space” and will work to create projects with “real utility.”

The partnership sees the LimeWire brand come full circle, as during its P2P heyday, it was a target for music labels due to users illegally sharing copyrighted content. The original platform was eventually taken down in 2010 after losing a court battle against the Recording Industry Association of America.

In March 2022, the brand made a comeback as an NFT marketplace focused on the music industry. Brothers Paul and Julian Zehetmayr bought the rights to the name so it would return “as a platform for artists, not against them.”

Okay Bears knock-off tops OpenSea, gets delisted

The popular NFT project Okay Bears, the first Solana NFT collection to top the 24-hour rankings on OpenSea, has inspired a knock-off Ethereum-based collection dubbed Not Okay Bears.

Not Okay Bears are flipped images of the 10,000 original versions and briefly surpassed the 24-hour volume of the original collection on OpenSea. DappRadar shows over $3.2 million in volume over the last 24 hours.

The collection was delisted by OpenSea on Tuesday likely due to the platform’s updated policies on collections that imitate others.

More Nifty News:

Linktree, the popular app used across social media to showcase a link directory, has launched support for NFTs through a partnership with OpenSea so that users can showcase an NFT gallery and profile picture and allow for crypto wallets to connect to a user’s Linktree profile.

The Sandbox metaverse has partnered with South Korean entertainment firm Studio Dragon to develop a Korean drama series within the Sandbox metaverse; Studio Dragon will mint new NFTs for the collaboration.



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Elon Musk’s SpaceX Said to Become Most Valuable US Startup, Valuation Rises to $125 Billion

Billionaire Elon Musk’s SpaceX is poised to become the most valuable US startup as its valuation rose to over $125 billion (roughly Rs. 9,68,906 crore) in an ongoing share sale in the secondary market, sources familiar with the matter told Reuters.

The shares, which are marketed at about $72 (roughly Rs. 5,580 crore), jumped in valuation from last October, when SpaceX’s shares were sold at $56 (roughly Rs. 4,340) apiece after a 10-1 split and valued the rocket company at $100 billion (roughly Rs. 7,75,125 crore).

No new shares have been issued in the secondary offering, but the company indicated to investors that they may do so later this year, said one of the sources, who asked not to be identified.

The share sale could value SpaceX at over $125 billion (roughly Rs. 9,68,906 crore), surpassing fintech giant Stripe, which was valued at $115 billion (roughly Rs. 8,91,439 crore) in a secondary sale. It could not be learned how many shares have been made available for sale by the company.

It is common for highly valued private companies to offer shares in the secondary market to introduce liquidity for early investors and employees.

Reuters could not determine if Chief Executive Elon Musk, who owns 44 percent of the SpaceX and signed a $44 billion (roughly Rs. 3,40,923 crore) deal to acquire Twitter, are among the sellers. Musk is also the chief executive of Tesla. SpaceX did not immediately respond to Reuters’ request for comment. The New York Post first reported on the private placement on Monday.

In the capital-intensive business, SpaceX has raised $337.4 million (roughly Rs. 2,615 crore) in December and $1.16 billion (roughly Rs. 8,990 crore) in equity financing last April, according to regulatory filings.

The company competes with former Amazon.com Chief Executive Jeff Bezos’s space venture Blue Origin and billionaire Richard Branson’s Virgin Galactic in the burgeoning constellation of commercial rocket ventures. SpaceX has already launched numerous cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA), including 19 rocket launches this year alone.

© Thomson Reuters 2022

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Erik Spoelstra Praises Jimmy Butler After 41 Point Effort in Game 1 Win

Much of the credit for Miami’s Game 1 over Boston will be given to their second-half effort on defense. But an equal amount of credit is owed to the two-way efforts of Jimmy Butler, who was the lynchpin of Miami’s defensive masterpiece in the final 24 minutes of the game.

Not only did Butler drop 41 points, 27 of which came in the second half, but he also posted nine rebounds, five assists, four steals, and three blocks, including a block on Jayson Tatum when the Duke alum attempted a three-pointer in the left corner. Butler is now the first player in NBA history to put together a 40/9/5/4/3 game in the playoffs, according to Statmuse.

“Jimmy Butler is an elite competitor,” Spoelstra said, per ESPN. “There’s a lot of guys in this League that are playing basketball. He’s competing to win. That’s a totally different thing, and he does that as well as anybody in this League.”

Butler has now become the second player in franchise history to score 40+ points in five games this postseason, the first being Dwyane Wade. Butler has also recorded his fifth career playoff game with 40 points on 60 percent shooting, tied with Charles Barkley for third-most in the last 30 postseasons, followed by Shaquille O’Neal (8) and LeBron James (12) via ESPN Stats and Info.

The only other players to have a 40-5-5-4 playoff game are James, Russell Westbrook, Paul Pierce, Allen Iverson, Michael Jordan, Patrick Ewing, and Larry Bird, according to ESPN Stats and Info. Per Statmuse, Jimmy G. Buckets surpassed James and Wade for most 40/5/5 playoff games in Heat history.

“I don’t do this to score 40 points; I play the way that I play to win,” Butler said following the game. “It just so happened I scored 40, but if I scored 40 and lose, I’m gonna be really ticked off.”

Miami will look to take a 2-0 lead on Thursday’s Game 2 of the Eastern Conference Finals.



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Miami Heat ‘Keep the Game Easy’ in Game 1 Win Over Boston

Jimmy Butler dropped 41 points, and the Miami Heat outscored the Boston Celtics 64-45 in the second half to take Game 1 of the Eastern Conference Finals, 117-108.

Butler’s 41-point effort is his fifth of the postseason. He is the second player in franchise history to record five 40+ point efforts.

Coming out of the break, Boston was up by eight; just three minutes into the third quarter, Miami took a lead they would never surrender after Butler knocked down a put-back layup. The lead-changing layup was a part of a game-changing 22-2 run punctuated by back-to-back-back steals from Max Strus and Butler to take a 10-point.

That double-digit lead eventually grew to 20 points after Tyler Herro hit three free throws a 1:15 into the fourth quarter after getting fouled on a three-point attempt.

“Keep the game easy,” Butler said about what was said in the locker room during halftime. “Simple. We gotta learn how to capitalize off of their mistakes, and we gotta get back. I think that’s what changed in the second half.”

Butler was the catalyst for Miami imposing their will in the second half. The Marquette alum scored 27 points in the second half, along with three assists, three steals, and four rebounds (two on the offensive glass).

When Boston tried to capitalize on a 10-0 run that cut Miami’s lead to nine points with 7:35 seconds left on the clock, Miami continued to impose their will, silencing Boston each time they made it a single-digit game with triples from P.J. Tucker and Strus. Their job on Tatum illustrated Miami’s second-half effort. Miami held the Duke alum to eight points after Tatum scored 21 in the first half, tied for a career-high in the first half.

The defensive intensity on Tatum was highlighted by Butler blocking Tatum on a three-pointer from the left corner pocket. Miami also forced the St. Louis native to turn the ball over seven times.

“Contesting every shot,’ Butler said about Miami’s key to defending Tatum in the second half. “Try not to foul; he’s crafty as hell and just putting multiple bodies in front of him.”

Boston will look to tie the Eastern Conference Finals when they face Miami on Thursday’s Game 6.



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Grimes Auctioning Off Her Met Gala Accessories to Support Ukraine

Elon Musk & Grimes Welcome Baby No. 2

Couture for a cause.

Grimes is doing her part to support the Black, Indigenous and people of color of Ukraine by auctioning off some of her most memorable fashion accessories.

“I’m auctioning stuff from my Met gala look last year to raise money to help get BIPOC families out of Ukraine since they’re having trouble exiting at the border,” she shared in an Instagram post on May 16, adding that the auction on display at Los Angeles’ HVW8 Gallery includes “the works of 50 distinguished artists who aim to support Emergency Response & BIPOC families in and out of Ukraine.”

Explaining that each piece in the auction “offers a unique interpretation of the theme ‘resistance,'” Grimes donated a whimsical pair of earcuffs, designed by Romantic Elf Jewelry, and chrome CHRISHABANA x Dune Harkonnen face mask.

The experimental musician wore the pieces to the 2021 Met Gala back in September, along with a sheer Iris Van Herpen gown, for the event’s “In America: A Lexicon of Fashion” theme. Her look—which was inspired by the 1984 cult classic Dune (and subsequent 2021 remake) based on Frank Herbert’s novel—also included a replica Medieval sword repurposed from an Colt AR-15A3. The weapon, however, is not up for auction, as its “a permanent piece” of the Metropolitan Museum of Art’s collection.



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Erinn Hayes Goes From Can Wait to Can F**k Himself

Erinn Hayes has entered the television multiverse. 

The Childrens Hospital actress has joined the cast of the second season of AMC’s Kevin Can F**k Himself, the network confirms to E! News. On the surface, Hayes jumping onboard the Annie Murphy-starring comedy doesn’t seem like that big of a deal. 

Oh, but this is no ordinary casting news!

Kevin Can F**k Himself is largely speculated to have been inspired by the CBS comedy Kevin Can Wait, which starred Kevin James and ran for two seasons from 2016 to 2018. AMC and the show’s producers have never explicitly connected the dots, but the writing is basically on the wall.

Kevin Can Wait was a traditional sitcom featuring James as a recently-retired police officer on Long Island, whereas Kevin Can F**k Himself is a meta commentary on the traditional sitcom itself, featuring Allison (Murphy) as a woman in an unhappy marriage to her husband named Kevin, all while being reduced to a secondary character in her own story.

Hayes starred on season one of the sitcom before her character Donna was killed off in the season two premiere. Hayes, who played James’ wife on the show, was effectively replaced by James’ King of Queens on-screen wife Leah Remini and the rest was history.

A short history, in fact. Kevin Can Wait was canceled after its second season.

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U.S. Accuses Steve Wynn of Lobbying Trump on Behalf of China

The Justice Department sued the former casino mogul Stephen Wynn on Tuesday, saying he had made repeated requests on behalf of the Chinese government to Donald J. Trump when he was president and seeking to force Mr. Wynn to register as a foreign agent.

In 2017, Mr. Wynn pushed Mr. Trump to deport a Chinese businessman who had sought asylum in the United States, according to the lawsuit. At the time, Mr. Wynn was the finance chairman of the Republican National Committee, a role he had been handpicked for by Mr. Trump.

The suit accuses Mr. Wynn of broaching the topic several times, including at a dinner with Mr. Trump and other administration officials in late June 2017, when he passed along passport photos of the individual to Mr. Trump’s secretary; during unscheduled meetings with Mr. Trump in August of that year; and by phone while aboard a yacht off the coast of Italy. Mr. Trump told Mr. Wynn he would look into the matter, according to the suit.

The Chinese businessman is not named in the suit, but he matches the description of Guo Wengui, a billionaire real estate magnate and an outspoken critic of Chinese government self-dealing who formed an alliance with Stephen K. Bannon, a former White House strategist for Mr. Trump. Mr. Guo fled China in 2014 in anticipation of corruption charges that he said were retaliatory. The effort to have him returned to China was ultimately unsuccessful, according to the lawsuit.

The suit also paints Mr. Wynn as furthering his own interests in Macau, a region of China known for its casinos that was critical for Mr. Wynn’s business. Mr. Wynn resigned as chairman and chief executive of his company, Wynn Resorts, in 2018 after being accused of sexual misconduct. He also stepped down as finance chairman of the R.N.C.

The Justice Department said that it had asked Mr. Wynn to register himself as a foreign agent under the Foreign Agents Registration Act in 2018, 2021 and April of this year, but that he had refused.

“Obviously, I disagreed with the Justice Department, which is why I have not registered,” Mr. Wynn said in a text message to The New York Times on Tuesday. He added that he would leave the matter to his lawyer and would not be making further comments.

The Foreign Agents Registration Act, or FARA, requires people who lobby or provide public relations services for foreign governments to disclose those activities to the Justice Department. The law had gone mostly unenforced for decades, but the department prioritized it during Mr. Trump’s administration.

According to the lawsuit, Sun Lijun, then the Chinese vice minister for public security, first approached three people in May 2017 with a request that the Trump administration cancel the visa of the Chinese businessman. The suit names Elliott B. Broidy, a former R.N.C. finance chairman and a top Trump fund-raiser; Nickie Lum Davis, another Republican fund-raiser; and the rapper Pras Michel. (Mr. Broidy and Ms. Lum Davis both pleaded guilty in 2020 to charges related to their roles in a covert campaign to influence the Trump administration on behalf of Chinese and Malaysian interests. Mr. Trump pardoned Mr. Broidy shortly before leaving office.)

In June 2017, Mr. Broidy passed the request from Mr. Sun to Mr. Wynn, according to the suit, and later, Mr. Sun made the case directly to Mr. Wynn. Mr. Sun had told Mr. Broidy that he wanted Mr. Guo placed on the national no-fly list and to have his application for a new visa denied, the suit stated.

After Mr. Wynn passed along the request during a dinner with Mr. Trump in June 2017, Mr. Broidy told Mr. Wynn that Mr. Sun and China’s leader, Xi Jinping, were thankful for his help. Mr. Wynn also reportedly brought up his business interests in Macau over several phone calls with Mr. Sun.

In a statement, Matthew G. Olsen, an assistant attorney general of the Justice Department’s national security division, said it was “the first affirmative civil lawsuit under FARA in more than three decades.”

“Where a foreign government uses an American as its agent to influence policy decisions in the United States, FARA gives the American people a right to know,” he said.

Maggie Haberman and Kenneth P. Vogel contributed reporting.

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Tarik Cohen ruptured Achilles during Instagram Live training session

Tarik Cohen, Chicago Bears. (Mandatory Credit: Brace Hemmelgarn-USA TODAY Sports)

Former Chicago Bears running back Tarik Cohen suffered a ruptured Achilles during a training session streamed on Instagram Live.

On Tuesday, May 17, former Chicago Bears running back streamed a training session on Instagram Live, as he recovered from a torn ACL. During the workout, Cohen fell and grabbed the back of his leg. Hours later, the diagnosis was confirmed.

According to ESPN senior NFL insider Adam Schefter, an MRI confirmed that Cohen had ruptured his Achilles tendon, meaning the free agent back will be sidelined for potentially the entire upcoming season.

Former Bears RB Tarik Cohen ruptures Achilles during workout

Cohen has not played in an NFL game since Week 3 of the 2020 season when the Bears defeated the Atlanta Falcons 30-26. Cohen suffered a torn ACL that game that caused him to miss the rest of that year and all of the 2021 season with complications in his recovery.

Back in 2017, Cohen entered the NFL as a fourth-round pick out of North Carolina A&T. Perhaps his best season with Chicago came in 2018, where he led the league with 33 punt returns for 411 yards. He also ran for 444 yards and three touchdowns and caught 71 passes for 725 yards and five touchdowns. As a result, he was named a First-Team All-Pro and a Pro Bowler.

Through his four years logged with the Bears, Cohen ran for 1,101 yards and five touchdowns on 264 carries, while catching 209-of-275 targets for 1,575 yards and nine touchdowns. Cohen returned 96 punts for 985 yards and 30 kicks for 628 yards.

It is brutal news for Cohen, as he is now likely to miss the entirety of the upcoming season.



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MLB Player Matt Harvey Suspended After Providing Tyler Skaggs Drugs

The fate of Matt Harvey‘s baseball career for the time being has been revealed.

Harvey—who testified in court in February that he provided the late Angels pitcher Tyler Skaggs with drugs—has received a 60-game suspension without pay that retroactively went into effect on April 29, according to MLB.com.

According to the site, Harvey’s suspension comes as a result of violating the Major League Baseball’s Joint Drug Prevention and Treatment Program.

Harvey—who once played for the Los Angeles Angels and now is contracted with the Baltimore Orioles—was suspended by Major League Baseball after he provided a testimony in the trial of Eric Kay, per ESPN.

Kay, who was formerly the Los Angeles Angels communications director, was brought to trial over the July 2019 death of Skaggs—who was found in his Texas hotel room after having suffocated from his own vomit. Skaggs’ autopsy determined that he had fentanyl, oxycodone and alcohol in his system.

In February, Harvey testified in court that he had used cocaine and oxycodone himself during his career, and also provided Skaggs with oxycodone pills while on the Los Angeles Angels team, per ESPN. Throughout the trial, Harvey and four other Los Angeles Angels alums admitted to receiving opioids from Kay.

After the eight-day trial ensued, a jury found Kay guilty on two felony charges (including providing the drugs that resulted in the death of Skaggs).

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