Investigations
Investigations
How a Sports Brand Used Fake Celebs to Pump an 'Insane' Cryptocurrency
A nutritional supplements company allegedly paid a group of online trolls to impersonate celebrities, fool its investors, and pump its token. And the scheme worked—for a while. Then it all unraveled. Insane Labz, an Arkansas-based supplements company known throughout the MMA and Barstool Sports world—and a former client of Gary Vaynerchuk’s startup mentorship program, launched its LABZ token in May. On its roadmap, the project promised to collaborate with “vetted celebrities.” Instead, it encour...
Investigations
Inside the Esports Industry's War for Survival
Investigations
Bitcoin Ordinals Trading Is Down Bad—But Just How Bad?
Jun 11, 2022
Investigations
Members of Congress Who Have Traded Crypto Since 2020
Rep. Madison Cawthorn caught a lot of flak this week for being late to disclose $950,000 worth of cryptocurrency trades that included Bitcoin, Ethereum, and Solana. But he’s far from the only person in Congress who’s traded crypto, and not alone in filing his reports late. According to the STOCK Act, which was passed in 2012, members of Congress, their staff and employees of the Executive Branch have to disclose stocks, bonds, commodities, and other equities trades within 45 days of the transact...
Apr 3, 2022
Investigations
NFTs Have a Problem With Copyright Theft
People considering forking out for an NFT have to ask themselves a number of questions. Do they like the art they’re buying? Does the project’s purpose align with their beliefs? Do they believe that the investment is a sound one, likely to generate a return for them in the long run? Another question that prospective investors may not have thought they need to ask, but increasingly have to, is more fundamental: Does the person selling this NFT have the rights to the image? Copyright and intellect...
Mar 31, 2022
Investigations
Nike Wants to 'Destroy' Unauthorized NFTs—How Will That Work?
When a company like Nike finds someone using its brand without permission, it can ask the courts to order the unauthorized goods to be destroyed. Nike has done this in the past, but its latest trademark lawsuit comes with a twist—the products it wants to "destroy" are NFTs, which are inscribed permanently on the Ethereum blockchain. The case in question involves Detroit-based StockX, a site that lets people buy and sell used brands, including Nike sneakers. Those sneakers are among its most popu...
Mar 2, 2022
Investigations
The Newest Crypto Side-Hustle: ‘Discord Grinding’
The crypto industry is in a hiring frenzy with companies dangling six- and seven-figure salaries to attract top blockchain talent. But the boom has also extended to the lower strata of the labor market, where people are engaging in a new form of social media engagement known as “Discord grinding” for as little as $5 an hour. Discord grinding takes its name from the popular platform of the same name, which is beloved by students and gamers, but which has also become an essential tool for Decentra...
Jan 27, 2022
Investigations
‘Snow Job’: The Plot to Hand the Crypto Industry to the Big Banks
“Just because you’re paranoid doesn’t mean they aren’t after you.” That adage has been attributed to everyone from Henry Kissinger to Kurt Cobain, but these days it would be a fitting motto for the crypto industry. In 2021, crypto believers became convinced that the U.S. government has it in for them. And not without reason: A series of decisions by the SEC and other regulators suggested that federal officials are not just indifferent to the industry, but actively hostile to it. The question is...