Gokongwei Group Warns of Cryptocurrency Scam | Key Points | Aug. 23, 2024

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.

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!

Photo for the Article - Gokongwei Group Warns of Cryptocurrency Scam | Key Points | Aug. 23, 2024

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.

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.