Yuga Labs, Magic Eden team up on new NFT marketplace to ensure creator royalties

Happy Sunday!

Yuga Labs and Magic Eden are teaming up on a new NFT marketplace through which creators will be ensured royalties from secondary sales. The Mango Markets exploit case has been delayed, ProShares offers a short Ether futures ETF, a Bitfinex employee was hacked in a ‘minor’ incident, and the UK is hiring a team of specialised crypto investigators. Read on!

Yuga Labs, Magic Eden launching NFT market

Yuga Labs and Magic Eden are collaborating to launch an Ethereum NFT marketplace by the end of the year that will ensure creators receive royalties, Crypto.news reported.

In a statement on the X social media platform, Magic Eden and Yuga Labs, originator of Bored Ape Yacht Club NFTs, emphasised the importance of supporting NFT creators to strengthen the digital collectibles ecosystem.

Magic Eden will be obligated to share a portion of secondary market sales from NFT collections with Yuga Labs.

Mango Markets exploit case delayed

Crypto trader Avi Eisenberg won’t stand trial until April 8, 2024, after a judge overseeing the $116 million Mango Markets exploitation case agreed to a delay just a month before the trial was scheduled to begin on December 4, CoinDesk reported.

Federal prosecutors allege Eisenberg committed commodities manipulation and wire fraud against the Solana-based decentralised crypto exchange Mango Markets in October 2022.

ProShares debuts short Ether futures ETF

ProShares has launched the first exchange-traded fund that will bet on falling prices in Ether futures, called SETH, or Short Ether Strategy, ETF.com reported, citing a company statement.

ProShares CEO Michael L. Sapir said: “ProShares now offers investors opportunities to profit both on days when Ether increases and when it drops.” Ether has gained 51% this year, the report noted.

Bitfinex employee hacked in ‘minor’ incident

Crypto exchange Bitfinex said one of its customer support agents was hacked, leading to a “minor” security incident in which its systems weren’t compromised and no customer funds were lost, Cointelegraph reported, citing a company statement.

“A small portion of our customer support boards, which held partial, incomplete and stale information was accessed by an individual or group, through the phishing of a customer support agent,” the company said.

UK to hire crypto investigators

The UK’s National Crime Agency plans to form a cryptocurrency and digital assets team to counter increasing cyber threats to investors, Cointelegraph reported.

The NCA posted a help-wanted notice looking to hire six people to form a group focused on crypto crimes. “The role will support existing and new investigations where specialist cryptocurrency experience is required along with taking a proactive lead in identifying targets for further development,” the notice read.

What we’re reading around the web

Dubai Financial Authority Approves XRP as ‘Recognized Crypto Token’ — Bitcoin.com

Coin Center plans to appeal Tornado Cash court loss against US Treasury — DL News

Crypto faces world of legal clashes even after SBF trial — Politico