Gokongwei Group Warns of Cryptocurrency Scam | Key Points | Aug. 23, 2024
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GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s feature story: Philippine conglomerate Gokongwei is warning everyone of crypto scams!
Here are the latest crypto news stories in the last 24 hours.
Table of Contents
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $60,655.04, up 0.1% over the last 24 hours.
- Ethereum (ETH): $2,639.37, up 0.8% over the last 24 hours.
- Solana (SOL): $144.75, up 2.1% vs the previous day.
Trending Coins Update
- Alpaca Finance: $0.2370, up 89.6% vs the previous day.
- Tron: $0.1547, up 3.2% over the last 24 hours.
- Sun Token: $0.0251, up 64.5% vs the previous day.
For the daily price update, check out our post on Facebook.
📺 Upcoming Celo Webcast: What to Expect!
On August 29, 2024 at 10PM (UTC+8), we will be interviewing Rene Reinsberg, the President of Celo Foundation and the co-founder of Celo blockchain. Here are the items we will discuss:
- Meet Rene Reinsberg, his role at Celo and background in crypto.
- A look at how Celo has evolved since it started.
- Key achievements of Celo and its community.
- How Celo’s mission to include everyone in the financial system is different from other projects.
- Behind Celo’s decision to become a layer 2 blockchain.
- Celo in the Philippines, partnership with PDAX and GCrypto.
- Future initiatives, Alpha Leaks…
This is a great chance to hear from one of the leaders in blockchain and learn how Celo is making a real difference in the Philippines.
Register now on our event page!
Feature News: Gokongwei Group Warns of Cryptocurrency Scam Using Lance Gokongwei’s Name
The Gokongwei Group is warning the public about a cryptocurrency scam that is falsely using the name of Lance Gokongwei to trick people into investing.
What’s the significance: Scammers are using well-known names like Lance Gokongwei to make their schemes seem legitimate, which could cause people to lose money if they invest in these fake cryptocurrency projects.
- Lance Gokongwei is the President and CEO of JG Summit Holdings, Inc., and he also leads the broader Gokongwei Group.
Key quote:
“Please be warned that well-known enterprises and personalities, including JG Summit President and CEO Mr. Lance Gokongwei, are being used to encourage the public to invest in cryptocurrency projects such as the so-called “Momentum Capital” program.”
About the Gokongwei Group: The Gokongwei Group is one of the largest and most diversified business groups in the Philippines. It includes:
- JG Summit Holdings, Inc.: A top conglomerate with $5.93 billion in revenue, operating in various sectors like food and beverage (Universal Robina Corp.), real estate (Robinsons Land Corp.), and air transportation (Cebu Pacific).
- Robinsons Retail Holdings, Inc. (RRHI): Another major part of the group, with $3.46 billion in revenue. It runs a wide range of retail stores, including supermarkets and drugstores.
What to watch out for: Keep an eye out for more updates from the Gokongwei Group as they take action against these scams. Stay informed to protect yourself from fraud.
Philippine Crypto News 🇵🇭
- BitPinas Articles:
- SEC warns public of new illegal crypto schemes.
- BitPinas announces Celo webcast with PDAX and GCrypto.
- Local crypto professionals interviewed about the benefits of work from home.
- Coinfest Asia starts.
- Coins.ph partnered with Hivemapper, a Solana-based DePIN project, to operate as local dashcam distributors.
- CEO Wei Zhou also talked about their support for the Solana ecosystem and Superteam PH.
Educational Corner 🎓
BitPinas Article: Amid the ongoing debate about remote work, BitPinas interviewed crypto professionals in the Philippines to hear their experiences and opinions on working from home in the industry.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- Binance and Changpeng “CZ” Zhao, are facing a new class-action lawsuit alleging that the exchange facilitated money laundering of stolen crypto assets.
- The SEC is expected to file fewer crypto cases in 2024.
- German regulator BaFin seized 13 unlicensed crypto ATMs across 35 locations.
- China’s new judicial interpretation classifies virtual asset transactions as a method of money laundering.
- U.S. Sen. Tim Scott proposed creating a digital asset-focused subcommittee if he chairs the Senate Banking Committee.
Community Spotlight 🔦
Meet Nesthy Petecio: She is a renowned Filipino boxer that won the Silver medal in women’s featherweight at the 2020 Tokyo Olympics and Bronze medal at the 2024 Paris Olympics.
- Petecio is the new endorser for Coins.ph, they aim to promote financial literacy and smart investment decisions.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Trust Wallet launched its “Year 2001” campaign to highlight that it’s still early days for crypto and web3.
- Bitfarms agreed to acquire Stronghold Digital in a $175 million deal.
- PIP Labs raised $80 million from a16z and Polychain to develop “Story,” a blockchain designed for managing intellectual property.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Hamster Kombat is currently having internal conflicts over profit sharing and project ownership; threaten to delay the HMSTR token airdrop.
- Nexus Interactive raised $2 million in seed funding, led by investors like Animoca Brands and Jump Crypto, to expand its Web3 gaming operations.
- Return Entertainment is integrating Aethir’s decentralized GPU infrastructure to enhance smart TV web3 gaming experiences.
- Shiba Inu‘s ecosystem launched a closed beta for its first Shibarium-based game, Shiba Eternity.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!
- CoinsGG feat. CRETA: August 28, 2024
- Hooked Unitour Hackathon Philippines: August 29, 2024
- Solana Radar Global Hackathon: September 2, 2024
- Bicol Traders Meet 2024: September 7, 2024
- Blockchain Campus Conference 2024: October 10, 2024
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Richard Teng, the new CEO of Binance, dismissed the need for an IPO, emphasizing the company’s strong financial position and long-term strategy.
- Kamala Harris expressed support for policies that promote the growth of the cryptocurrency industry.
- Mercado Libre’s digital bank, Mercado Pago, launched the Meli Dollar, a U.S. dollar-tied stablecoin for Brazilian users.
- McDonald’s Instagram account was reportedly hacked to promote the Solana memecoin GRIMACE.
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This article is published on BitPinas: Gokongwei Group Warns of Cryptocurrency Scam | Key Points | Aug. 23, 2024
