Polygon Joins Hands 馃With Reddit Co-Founder For Web 3.0 Initiatives

ABOUT THIS EPISODE

ROI Overload is a daily radio show/video podcast show focused on the latest in trending topics in business, tech, finance and startups hosted by Scott D. Clary (@scottdclary).

Available in audio (roioverload.sounder.fm) or video (youtube.com/c/scottdclary).

Welcome to Roy Overload daily business, tech and finance news. I'm Scott declary. This is what's making news today. POLYGONE joins hands with the reddit cofounder, Alexis Ohanian, for web three initiatives. Verizon, atnt and others settle FCC eleven outage investigations despite technical glitches. Adidas Sells NFT's worth over twenty two million dollars and JP Morgan is fine two hundred million dollars over the use of encrypted messaging APPs. Let's jump right into it. So polygone is working with Alexis ohany and, the CO founder of Reddit. They've teamed up to put together a two hundred million dollar fund that will work toward building gaming and social media projects on web three point out. Web Three Point I was the third iteration of the Internet that focuses on giving Internet user control of their data and blockchain technologies at the heart of this revolution. In addition, the funds will also focus on projects that are building on the etherium layer two platforms, as the partnership looks to pioneer the bold new world of user owned and controlled Internet.

Alexis Co founded red in two thousand and five left in two thousand and ten and then came back as executive chairman in two thousand fourteen to lead a turnaround of the company, before quitting in two thousand and twenty. He's also been an investor in many wellknown tech and blockchain companies, such as is, a coin based, Patreon, inst the cart and sky may vis. On December seventeen, polygon published a blog announcing that it had teamed up with seven seventy six, the venture capital firm led by Alexis. Polygon said that the new fund would back projects at the intersection of social media and web three, exploring better ways for humans to connect online. Verizon, ATT and others just settled the SEC nine hundred and eleven outage investigation. So on December seventeen the federal communication commission said that it had reached a settlement with for TELECO providers atnt, verizon and Tratto and century link. Now looman technologies over investigations into compliance with the agencies one reliability rules during the two thousand and twenty network outages. The four telecom companies will pay a total of six million dollars in total to...

...complete and finishes settlement. It's also agree that they will implement compliance plans to ensure adherence to FCC emergency call rules going forward. It's part of the settlement. Lumen will pay three point eight million and tratter will pay one point seventy five verizon will pay two hundred and seventy four thousand and ATNT will pay a total of four hundred and sixty thousand to settle two investigations. Jessica Rosenwertle, the FCC chairwoman, said, the most important folk call you ever make maybe a call to on one sunny day. Outages can be especially troubling because they occur when the public and nine one one call centers least expect it. It's vital that phone companies prevent these outages whenever possible and provide prompt and sufficient notification and nine one one call centers when they do occur. The settlement is a testament to the telecom companies owning up on there and as they fail to adequately accommodate emergency calls. A despite technical glitches, Adidas just sold nft's worth over twenty two million dollars. So Adidas has entered into the emerging space of NFTS, or non fungible tokens and the metaverse with a bang over the last week.

In the company earned more than twenty two million after it's nft pieces were minted within hours of going live on sale. The company had put up about Thirtyzero NFTS for sale, of which twenty nine thousand, six hundred and twenty were sold, while the partners kept three hundred eighty pieces for future events. Each of the NFT's were priced at zero point two etherium, which converts roughly to seven hundred and sixty nine dollars. The NFT's were made by Adidas and partnership with Punks, comics, board OP Board, Apiacht Club and g money, a pseudonym for a pretty wellknown crypto enthusiasts. Customers who bought an NFT will get access to spe special physical goods, like a Hoodie and a tracksuit worn by the board APE that Adida Z owns, among other upcoming digital experiences. However, the sale did face some technical snacks, as the mutant ape yacht club owners complained of not being able to mint the pieces. The sale was paused for some time and later resumed. Adidas has said that it will...

...reimburse everyone who lost gas fees while there was a problem purchasing the NFT's and lastly, JP Morgan is find two hundred million dollars over the use of an encrypted messaging APP. so JP Morgan Chase was slapped with a two hundred million dollar fine after the company admitted to widespread record keeping violations, including the usage of unapproved messaging APPs like WHATSAPP and other platforms, and failing to secure communications. The US Securities and Exchange Commission said that the JP Morgan Securities agreed to pay a hundred and twenty five million dollars after admitting to widespread record keeping failures in recent years. And dition, the commodities Futures Trading Commission also said that it had find a JP Morgan seventy five million for allowing unapproved communication since at least two thousand and fifteen the federal law requires that financial companies keep secured records of electronic messages between brokers and clients, but JP Morgan's failure to secure those offline conversations violated federal securities law and left the regulator uncited to exchanges between the...

...bank and its customers. The ruling by regulators is the latest sign of an ongoing conflict between banks, regulators and employees over the use of personal devices. Because of the findings that JP Morgan the SEC set it will launch an investigation into record keeping practices at other financial institutions. Over, the SEC did not disclose their names. And another news from around the Internet, business to business market, place of Business Raises Three hundred and twenty five million dollars. So of business. And Indian based startup that sells industrial goods and provides small businesses with credit has raised three hundred and twenty five million dollars in its fourth major equity fundment fund raising round this year. This series g round was led by Alpha wave global, tiger global management and the Soft Bank Vision Fund, to taking the overall valuation of the start up to five billion dollars anyway. So...

...that's it for today. Hope you enjoyed if you found value in this, share this with the one other person they can go subscribe for daily business, Tech and Finance News and newsletter dot Roy overloadcom. Have a great day. I'll see it's.

In-Stream Audio Search

NEW

Search across all episodes within this podcast

Episodes (179)