Greetings Munchers. We're back with our weekly crypto news updates.

Munch Newsletter:

Hello Munchers! 🍩

Here’s what we’ve got lined up for you today:

• Hot News
• Market insights
• Personality of the Day
• Crypto Tweets
• Learning Corner

🔥Hot news

Assets worth $5 million seized in India involving a fraud ICO.

• Indian Enforcement Directorate (ED) has seized assets worth $5 Million from a scam that has duped investors out of $162 million involving a nonexistent cryptocurrency called Morris coin.
• After a first information report (FIR) was registered by the Kerala Police under the Indian Penal Code The ED started the investigation. Multiple other FIRs were subsequently registered by police in other districts.
• The ED explained that the main culprit Nishad K. and his team held “promotional events in the presence of celebrities” and used “flashy websites” to attract investors. The police said that over 900 investors were duped out of 1,200 crore rupees. Read More​

The Gap debuts their NFT line

• Last month, Adidas made a big entry into NFTs and the Metaverse, and now clothing giant The Gap is jumping on the NFT trend with its own line of NFT collectibles.
• The Gap, a clothing company, is introducing Tezos-based NFT collectibles.
• Gap Threads NFTs are debuting this week, with select customers getting an exclusive physical hoodie. Read More

‘EthereumMAX’ scam pulled Kim Kardashian and some other celebrities in troubled waters

• A class-action lawsuit was filed against the creators of the scam token EthereumMAX and the celebrities like Kim Kardashian, Floyd Mayweather and others for endorsing it.
• The lawsuit states that Mayweather and basketball star Paul Pierce promoted the EthereumMAX token in May 2021 due to which the token’s value jumped to whopping 632%.
• Kardashian promoted the coin in June on Instagram, just a day before the coin’s value fell through the floor. Read More​

📈Market insights

Visa and ConsenSys have teamed up together

• Visa and ConsenSys have partnered together to assist CBDC networks in connecting with traditional financial institutions.
• Customers will be able to use their CBDC-linked Visa card or digital wallet wherever Visa is accepted.
• The CBDC Payments Module from Visa was designed to link CBDCs to current payment networks. Read More​

Polygon is saddled-up for a major upgrade with London hardfork or EIP-1559

• Ethereum’s Layer 2 scalability solution Polygon will activate the London hardfork or EIP-1559 on January 18, once block 23,850,000 is validated.
• The 150 million BEP2 MATIC provided as liquidity on the Binance Smart Chain (BSC) will be swapped for ERC-20.
• The burning mechanism will remove the MATIC tokens from circulation offering better fee visibility to its users. Read More​

The parent company of Brazil’s largest cryptocurrency exchange expands into Europe

• As part of its goal to expand across Europe, 2TM, the parent company for Mercado Bitcoin, has agreed to acquire CriptoLoja, Portugal’s first licensed crypto exchange.
• The acquisition is still awaiting permission from Portugal’s Central Bank.
• The amount of the deal and the exact stake purchased were not disclosed by 2TM. Read More​

👨🏻‍💼 Personality of the day:

Roshni Aslam

• Roshni is the Co-founder of GoSats which is a bitcoin stacking app that lets users earn bitcoin cashbacks when they shop with the partnered merchants.
• She started foraying in the Crypto world from early 2017, gained experience in crypto tokenomics as an analyst and later founded GoSats with her brother Roshan.
• Recently, Roshni talked about her crypto journey and GoSats vision on our YouTube channel. You can watch the interview here.

📱 Crypto Tweets

📖 Learning Corner:

What is the difference between Traditional Organizations and DAOs?

Traditional Organizations -

• The majority of the time, it is hierarchical.
• The activities are private and limited to the general public.
• Requires human involvement, which is susceptible to manipulation.
• Companies are not always transparent and not always global.

Decentralized Autonomous Organization (DAO) -

• It is totally democratized.
• All the activities are entirely open to the public.
• The services are handled automatically and decentralized.
• DAOs are transparent and global.

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Disclaimer: Our content is purely educational and informative, please do not take it as investment advice. Always do your own research before investing!