business
White hat hacker attempts to recover ‘millions’ in lost Bitcoin, finds only $105
Joe Grand, a computer engineer and hardware hacker known by many for recovering crypto from hard-to-reach places, spent hours breaking into a phone only to find a fraction of a Bitcoin. In a YouTube video released on Thursday, Grand traveled from Portland to Seattle in an effort to potentially recover “millions of dollars” in Bitcoin (BTC) from a Samsung Galaxy SIII phone owned by Lavar Sanders, a local bus operator. Sanders originally purchased the BTC in July 2016 in a “super sketchy” way, paying a person at a cafe and storing the crypto in a wallet on the phone before putting it in storage and losing track of the device. After finding the phone in 2021, Sanders couldn’t recall the swipe password, but remembered setting up the option of erasing the data if too many incorrect attempts wer...
Weekly Report: India mulls 28% GST on crypto, Tether to launch Pound Sterling-backed stablecoin, FalconX secures $150M raise and more
Here are all the exciting headlines you missed in the NFT, DeFi and crypto niches across regulations and business verticals. Crypto broker FalconX raises $150 million, reaching an $8 billion valuation US-based firm digital assets brokerage on Wednesday disclosed it had raised $150 million in the latest financing round led by Singaporean wealth group GIC and Swiss firm B Capital. Other investors that took part include private equity firm Thoma Bravo, Tiger Global Management, and investment manager Adams Street. Notably, the series D funding round comes when crypto entities suffer losses and try to stay afloat. Falcon X’s total funding now stands at $430 million, having secured a massive $210 million from its Series C funding. Its valuation has more than doubled from $3.75 billion to $8...
One of Music’s Biggest Wholesalers Is Going Public
Alliance Entertainment, the giant music, video and gaming wholesaler, will be going public and trade on the New York Stock exchange, the company announced Thursday (June 23). The public listing will be done through a reverse merger with Adara Acquisition Corp., a special purpose acquisition company (SPAC). The deal is subject to the approval of the shareholders of Adara Acquisition Corp., which trades on NYSE under the symbol ADARA. If the deal closes — as expected in the fall — Alliance Entertainment will trade under the symbol AENT. The deal has assigned Alliance Entertainment a pre-deal valuation of $480 million. Alliance Entertainment serves as a one-stop for all titles to brick-and-mortar and online retailers. In the first nine-months of its fiscal year ended March 31, the compan...
Here’s Why Dua Lipa Can Be Sued for Posting Photos of Herself
For the second time in a year, Dua Lipa is facing a lawsuit over posting a paparazzi picture of herself to her Instagram account. In a suit filed Wednesday in U.S. District Court in California, New York-based photographer Robert Barbera claims that the singer committed copyright infringement by posting pics he took of her to the platform in July 2018. On the surface, it might seem odd that a celebrity can be sued for posting a picture of themselves on social media. But in these cases, the law is fairly clear on what rights stars have when it comes to this corner of the intellectual property world. “Generally, under U.S. copyright law, the person who ‘authored’ a work is the copyright owner,” reads an explainer article posted by the business/entertainment Romano Law firm on the subject in N...
The community-centered approach to Web3 — Aave founder and CEO
Aave founder and chief executive officer Stani Kulechov said the firm was continuing to develop its decentralized social media platform, with Web3 potentially changing the way many view ownership. Speaking to Cointelegraph at the Collision conference in Toronto on Thursday, Kulechov said Web3 — a buzzword often thrown around which generally describes the next evolution of an internet based on blockchain technology — could impact how people use social media in much the same way cryptocurrency changed perceptions on finance. The Aave CEO remarked how developers had adapted protocols to handle custody, and the rise in nonfungible tokens, or NFTs, seemed to point to a community-centered approach. “I think Web3 is quite a lot related to the concept of ownership,” said Kulechov. “As we have owne...
Vinyl Prices Might Seem High Today, But They Were Worse in 1978
As far as albums go, 1978 was one for the record books. The Saturday Night Fever and Grease soundtracks topped the Billboard 200 album chart for a combined 36 weeks. Fleetwood Mac’s Rumours, released in 1977, was the No. 1 album in the U.S. the first two weeks of the year. Billy Joel’s 52nd Street topped the chart for the final seven weeks of the year. The Rolling Stone’s Some Girls and Boston’s Don’t Look Back each topped the chart for two weeks. It was also a notable year for another reason: In 1978, vinyl records were more expensive than any other time since the RIAA began tracking sales in 1973. That year, the average retail sale price of a vinyl EP/LP was $7.32 – equal to $30.18 in today’s dollars when adjusted for inflation. That was the second-highest vinyl sales year in U.S. histor...
Dua Lipa Sued (Again) for Posting Paparazzi Photos of Herself to Instagram
Dua Lipa is being sued for posting paparazzi photos of herself to Instagram for the second time in a year, according to court documents filed in U.S. District Court in California. This time, a New York-based photographer named Robert Barbera is claiming the singer committed copyright infringement after posting photos he took of her in July 2018 to the social media platform. “Without permission or authorization from Plaintiff, Defendant volitionally selected, copied, stored and displayed each of Plaintiff’s copyright protected Photographs,” the complaint, written by attorney Craig Sanders, reads. The photos in question, which were also taken in July 2018 and attached as an exhibit to the suit, show Lipa wearing a black sweater bearing the word “HEROES” in large capital letters. As in the pr...
Universal Music Launches Media Platform to Better Connect Artists With Brands
Universal Music Group for Brands (UMGB) has launched an advanced media and data platform designed to more easily connect brands with exclusive UMG artist content, the company announced Wednesday (June 22). Called the UMusic Media Network, the platform will give brands access to UMG’s inventory of music video content spanning all leading social platforms as well as UMG data and insights, allowing them to hyper-target audiences at scale. Content offered through the network will include official music videos, songs and lyrics videos, artist vlogs and lifestyle content from UMG-owned platforms including Rebel Labs, Mercury Studios and Polygram Entertainment. The network will also offer branded content and partnership opportunities across all of UMG’s labels and artists. UMGB claims to boast te...
SiriusXM’s Senior Director, Country Programming JR Schumann to Exit
JR Schumann, senior director of country programming at SiriusXM, will exit his role July 15, the company has announced. SiriusXM’s vp, programming, Darrin Smith, will then oversee those channels on an interim basis. “After almost seven years, I’ve decided to leave SiriusXM and pursue other opportunities and adventures,” Schumann said in a statement. “I’m beyond proud of everything my team and I have accomplished and wish everyone at SiriusXM nothing but continued success.” Schumann joined SiriusXM in December 2015, and his role included overseeing SiriusXM’s country and Christian programming, as well as the Elvis Radio channel. Prior to his role at SiriusXM, Schumann served as operations manager for Cumulus Media’s Dallas stations, as well as program director duties for country stations KS...
Warner Music Group Forms 300 Elektra Entertainment Label Group Under Kevin Liles
The Warner Music Group has officially unveiled the final form of its new label group following its $400 million acquisition of 300 Entertainment last December. The new entity will be called 300 Elektra Entertainment — or 3EE for short — and will encompass 300, Elektra, Fueled By Ramen, Roadrunner, Low Country Sound, DTA Records, Public Consumption, YSL Records, distributor Sparta and the new film and content division 300 Studios, the company confirmed today (June 22). As has already been confirmed, 300 co-founder (and longtime Warner Music veteran) Kevin Liles will run the combined companies as chairman/CEO. Each of Elektra and 300 will remain “independent identities and cultures,” according to a press release, with Elektra headed by longtime co-presidents Gregg Nadel and Mike Easterlin an...
How a DAO for a bank or financial institution will look like
DAOs can provide several services for banks, including asset management, compliance and lending. Banks today are already using blockchain technology for things like payment, clearing and settlement, trade finance, identity and syndicated loans, according to The Financial Times. However, there are still many unexplored areas in banking where a DAO-based model might be useful: Fundraising In the crypto world, initial coin offerings (ICOs) are breaking down the barrier between access to capital and traditional services like capital-raising firms. Likewise, banks can use DAOs to raise capital from a wider pool of investors via ICOs. Loans and Credit Using decentralized technology in banking can eliminate the need for gatekeepers in the lending industry. DAOs provide more secure ways for people...
Peter Scaping, Former General Manager of BPI, Dies at 76
LONDON — Tributes have been paid to British music executive Peter Scaping, a widely admired figure in the U.K. record business and former general manager of labels trade body BPI, who has died at the age of 76. Scaping joined BPI in 1976 from Decca Records and held the post of BPI general manager — where he was responsible for day-to-day affairs — until 2000, by which time his job had grown to encompass director of development and research for the London-based organization. Having joined BPI at a time when the demand for industry statistics was fast growing, Scaping oversaw production of the first BPI Yearbook in 1976, providing detailed analysis of U.K. record sales and consumption trends of the period. The text became a vital reference tool for U.K. music execs and Scaping would oversee ...
