🎰 Rollbits license goes rogue

GM, GM. It’s FRIDAAAY, time to spend all day pretending like we’re doing work, just to clock off early and do the same thing. Uhh, but that’s not us though…we work hard over here… With that in mind, let’s see what’s in the pod for our final edition of the week.

How we looking today?

BUT…BUT I THOUGHT CRYPTO CASINO’S WERE GOOD!?

Ah yes, the infamous crypto casino’s, where operations are offshore and advertising targeting is not. Just hours ago, crypto casino Rollbit’s token dropped 20% amid licensing concerns. Crypto Twitter was on the case as always, noticing that Rollbit had removed information about it’s license from Curaçao, a Dutch Caribbean island off the coast of Venezuela.

Here’s where it gets interesting. Rollbit recently rolled out (…get it?) their crypto derivatives trading offering, which apparently does not fall under their current license. Not only that, but Twitter users were also quick to point out that under regulation, Rollbit can not “renew” their license, but instead must submit a new application, meaning their whole point about an annual renewal period is… a lie? It’s safe to say, people on Twitter don’t particularly trust Rollbit, nor are they buying their excuse.

What’s even wilder is that Rollbit is still operating as of right now. Even if their license was in renewal mode, meaning their current license may no longer apply, the fact that they’re still operating isn’t helping their cause. But hey, who are to judge? A crypto casino would NEVER be unethical, operate when they’re unlicensed and break a bunch of international laws…right?

SEC STRIKES AGAIN

Recently, the SEC filed charges against crypto trading platform Beaxy and its executives. We’re going to be honest here…we have no idea what Beaxy is, we’ve never heard of it… On top of the charges, the SEC alleged that the exchange’s founder raised $8 million in an unregistered token offering and also misappropriated “at least $900,000 for personal use, including gambling.”

Ok, ok, we know what you’re thinking. Let’s take a deep breath and get through this.

Basically, Bean Boy celebrity Gary Gensler said that Beaxy and its affiliates performed the functions of an exchange, broker, clearing agency and dealer without registering with the SEC and complying with rules that normally govern those activities. Run by Nicholas Murphy and Randolpy Bay, Beaxy has been operating since 2019, but their website has now since been removed, with only the following note left.

“Regrettably, we are announcing the immediate suspension of services on Beaxy Exchange. Due to the uncertain regulatory environment surrounding our business, we have made the difficult decision to cease operations.”

But, not everybody is thrilled with this recent outcome. Many took to Twitter to question the SEC’s motives, claiming that they may be trying to go after some smaller fish before going head to head with the bigger exchanges, like Coinbase and Binance.

BOARDING TICKET? NO THANKS, I’VE GOT MY NFT

We’re finally getting to the promise land, baby! Well, not quite yet… but today is was revealed that low-cost Argentinian airline, Flybondi, will begin offering all tickets as NFTs. In an expanded partnership with NFT ticketing company TravelX, all e-tickets issued will be an NFT, hosted on the Algorand network.

What’s cool about this is, passengers will be able to change their name, transfer or sell their airline ticket (known as NFTickets), independently. The airline, Flybondi, said that the NFT ticket offers a more flexible experience, allowing passengers to even buy in advance without having to define their travel plans, or who the travellers will be. In exchange, the airline is able to reduce customer service costs, but also increase its revenue from trading fees among the NFTickets. Honestly, we’re super impressed.

It’s a big move for the NFT industry. Integrating into airlines is something not many of us expected, or not so soon anyway. The fact that TravelX has been quite successful is a testament to how promising NFTs really can be, opening up a whole new world of flexibility and accessibility. TravelX is also partnered with Spanish airline Air Europa, and has built its infrastructure open so that other exchanges or marketplaces are able to integrate with the TravelX API.

The only question left is, who wants to come travel with Bean Boy?

PEAS IN THE POD

• The EU are set to ban anonymous crypto transfers of over 1,000 Euro. Hey mom, new regulation just dropped!

• Ledger, you know…the thing you hold your crypto on, has been valued at $1.4 Billion after securing $109 Million in funding recently. Bean Boys ledger holds about that amount…minus a few zero’s

• Final Fantasy 7 has announced NFT trading cards are on the way. It seems every video-game company is getting in on the action these days…

HOW YOU BEAN - A READERS CONFESSION

The other night I went out clubbing after 3 years of strictly trading. I drank my heart out alongside smoking a few joints. I came back home and I went back to what I do best. That’s right, leverage trading on Bybit, I started shorting coins that I didn’t even know about. I’m up 30% now… might try going out tomorrow again, will let you know!

To be featured in ‘HOW YOU BEAN’ please email: [email protected]

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.