Fan Crypto Firm Socios CEO is Involved in Price Manipulation 🚨, Alleges a Recent Report

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Fan Crypto Firm Socios CEO is Involved in Price Manipulation 🚨, Alleges a Recent Report 

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Alexandre Dreyfus, the CEO and founder of fan cryptocurrency token firm Socios has been accused of manipulating the price of the Chiliz (CHZ) token, according to a report from Off the Pitch.

Socios is a fan engagement platform for sports and e-sports aficionados, where they acquire voting rights to influence the clubs and teams they support.

The platform has partnered with more than 100 sports teams to generate fan tokens that offer prizes and the opportunity to vote on particular parts of the club.

An investigation by Off the Pitch publication found that Socios withheld crypto payments from key advisors for maintaining the value of its Chiliz currency, the cryptocurrency used by the Socios community,

A whistleblower who questioned about missed payments was fired on false harassment” accusations, while another employee claimed he lost $10 million due to “withheld payments,” according to the report.

“We regret that some advisers that have worked with us in the past were not paid in a timely manner and we have rectified this with them directly and maintain good relationships today,” a Chiliz payments adviser told Off the Pitch.

Livestreamers 🤳 can Add Moderators on Instagram now

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Instagram live streamers can now appoint some to moderate their stream. Instead of doing all the work themselves, creators can assign moderators with the ability to remove viewers from the stream, report comments, and disable comments for a specific viewer during a live stream.

“We’re launching Live Moderator on Instagram Live, where creators can assign a mod and give them the power to: Report comments, Remove viewers from Live, Turn off comments for a viewer,” said Instagram in a Twitter post.

To assign a moderator, a creator has to tap on the three dots in the comment bar during a live stream. From there, a creator can select a moderator from a list of suggested Instagram accounts or use the search bar to search for a particular account.

Nowadays, content moderation has become a much-need service on any live streaming platform as comments can quickly get violent and ugly.

And, as Instagram is trying to attract more creators to monetize their streams, this option should make live streaming a far better experience for creators.

Austin Mayor Rolls out Web3 and Crypto-friendly Initiatives in the City 🏙

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Mayor Steve Adler of Austin, Texas, has completely accepted the wider benefits of blockchain technology and crypto payments by rolling out a series of new initiatives aimed at making the city a national leader in Web3 technologies.

Mayor Adler’s first initiative aims to ensure that the city promotes the benefits of blockchain technologies along with diversity, equity, accessibility, and inclusion in the technological space.

For this purpose, Adler has asked the city manager to investigate how the city can utilize blockchain and Web3 in nearly 20 areas including smart contracts, insurance, arts, supply chain, media, and identity verification, among others.

The second initiative orders the city manager to perform a survey on how the city could adopt bitcoin and crypto-related policies. This survey is aimed at enabling Austin residents to legally pay their bills with cryptocurrency.

The success of these initiatives will be evaluated on the level of effect new applications will have on the everyday lives of residents of Austin. Further, the city council will vote on the proposal on March 24.

Nintendo Switch Tops 🆙️ Console Sales in February

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The Nintendo Switch has outperformed the PlayStation 5 and Xbox Series X in both unit and dollar sales in the last month, coming back strongly from a weaker January, according to NPD’s Executive Director Mat Piscatella.

“US NPD HW – Switch was the best-selling hardware platform of February 2022 in both units and dollars. Xbox Series ranked 2nd across both measures,” said Mat Piscatella in a Twitter post.

In January, the PlayStation5 took the top spot as the best-selling gaming hardware in the U.S., while the Switch came in behind the Xbox Series X. However, in February, Nintendo Switch has topped the spot to swap the number one position with PS5.

So far this year, the Switch has sold the most units, while the PS5 has generated the most money, says the report.

According to the report, the global semiconductor shortage has made it difficult to find a PS5 and Xbox Series X without paying scalpers’ prices.

However, the Switch has become slightly easier to find in stores and online, even though the company has cut its production by 20 percent in 2022.

Around the Web 🌐

Navi Technologies Files Draft Papers For IPO: Navi Technologies, an Indian-based tech-driven financial products & services company, has filed draft papers for an initial public offering (IPO) with the securities and exchange board of India (SEBI). The company plans to raise $440 million from the IPO.


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