Blur Airdrop Date + RIP Genesis

GM Readers!📪 It's BitDegree Insider, and it's time so see what's up in the web3 land.

⭐️Today's selection:

• 🚀Blur Launch + Airdrop
• 🏁FTX To Be Relaunched?
• 🪦Genesis Declares Bankruptcy
• 👌Selected Meme of The Day
• 📰Bite-Sized News

BLUR AIRDROP DATE

You know what. It's time to extract some value. 

Scandals, bankruptcies, charges, and arrests... That's not what we're here for. You can even forget that there's good stuff like...

Airdrops.

Therefore, may we ask for attention, all readers!

We have exciting news to share - $BLUR, the highly anticipated token launch, will take place on February 14th.

So the day is confirmed. A new NFT marketplace is about to move in into the web3 apartment.

This means that the NFT marketplace war is only about to really begin. Here's what we mean:

Yuga Labs, the makers of Bored Apes, recently minted a fresh new collection. It's called the Sewer Pass. And they made an aggressive move with it.

Yuga Labs made it clear that they're all after the royalty fees.

And they openly stated that they're not gonna be selling this collection on NFT platforms where royalty-free sales are available.

They simply prescribed such a restriction in the collection's smart-contract. And here's why this is an aggressive move.

By doing so they automatically prevented this collection from being sold on such marketplaces as Blur, SudoSwap, LooksRare, and NFTX. 

Such strict limitations allowed the company to net over $1M in gross profit.

This is rather worrying. Because such moves only amplify the already-existing monopoly over the market. And who holds this monopoly? OpenSea, of course.

Well, let's Open our eyes, and Sea what the future will bring us. Maybe it will get Blurry... (ehmmm...sorry for this, but not really actually).

TL;DR: On February 14th things will get interesting, since the promising NFT marketplace BLUR will launch their token. It will increase the already tense competition among NFT platforms.

NOT A DAY WITHOUT FTX

These days... You hear more about FTX and SBF than the sound of your loved ones' voices. Ugh.

But these names are the main characters of the current season, and there are updates. Always.

The new head of FTX John Ray III said he was exploring the possibility of restarting the bankrupt exchange.

According to him, a special working group on the issue is already formed.

They are assessing whether a relaunch would have a more positive effect than liquidating the platform's assets.

"There are stakeholders that we're working with right now. They see it as a viable business.", the businessman elaborated.

John Ray added that FTX has valuable technology and other advantages at its disposal. So he's like why should we throw away the baby out with the bathwater?

Such news didn't go unnoticed.

The FTT token is up about 30%. Its rate temporarily surpassed the $2.6 mark before rebounding to $2.35.

And... THIS news didn't go unnoticed. By scammers.

SCAMMERS CREATED A FAKE FTX TOKEN

Scammers created a scam token called FTX 2.0 and sent it to Justin Sun and Binance wallets to make it seem more legit.

If the big boys have it... It must be cool and legit, huh?

The idea here is simple. Some gullible pool soul will read the news about FTX relaunching, see a token called 'FTX 2.0', and will think that it's a new beginning. It's not.

The contract of the token prescribes that it cannot be sold, which is why the token is constantly growing. You buy it. You pay for it. You can't sell it. It's yours forever.

A forever-reminder that at least once in your life, you were not the brightest tool in the shed.

But this doesn't apply to our smart and curious readers. STAY ALERT!

3 MEN THREATEN SBF

Staying alert is what SBF will have to do as well. Since something unpleasant has just happened to him.

Three unidentified men drove a car into a metal fence that's protecting the multimillion SBF parent's house.

The security guy that was working went out to confront them. The uninvited guests yelled "You won't be able to keep us out", and then quickly fled.

P.S. Other sources report that the phrase was 'You won't be able to stop us'. But it doesn't really change the fact that this is... Unsettling.

TL;DR: JOHN RAY III, the new FTX CEO has shared plans to revive the fallen exchange. This has increased FTT's price, and created an opportunity for scammers to create a scam token called FTX 2.0. In the meantime, 3 unknown men drove into a metal fence that's surrounding SBF parent's house as a way of sending a message.

GENESIS FILES FOR BANKRUPTCY

Filing for Chapter 11 has become a... tradition? FTX, Celsius, Voyager, and now...Genesis.

Yesterday we wrote that Genesis may be facing its near as soon as the end of this week. And that was true.

The crypto lending firm Genesis Global Holdco, part of the Digital Currency Group, filed for bankruptcy.

It turns out that the organisation owes more than $3.5 billion to the 50 largest of their creditors.

The "leader" among them, quite expectedly, was the Winklevoss twins' exchange Gemini. Genesis was the site's partner in the Earn program ($766 Million debt).

Gemini CEO Cameron Winklevoss is now threatening to sue DCG head Barry Silbert, stating that the bankruptcy is an important step towards getting Gemini Earn customers back into debt, but Silbert is refusing to offer creditors a fair deal.

The bankruptcy of Genesis highlights the interconnectedness of the cryptocurrency market. it's called an ecosystem for a reason.

It only seems to be the "last chord" of the FTX saga. In fact, it could very well be a prerequisite for the next industry-wide upheaval. We'll be hearing more about FTX & SBF...

TL;DR: The crypto lending firm Genesis Global Holdco has filed for bankruptcy.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• DEX Aggregator 1inch Network Introduces its First Hardware Wallet. Don't keep all your eggs in one basket. Keep them in a hardware wallet.
• Binance is Set to Improve NFT Minting Rules and Remove Several NFT Collections. We'll see what 'several' mean.
• Ripple CEO Predicts Resolution in SEC Lawsuit, Despite "Embarrassing" Conduct. The case is still causing ripples.