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The appeal of crypto and NFT is that they are with little regulation. But as the market has proliferated in recent years, big governments are moving into the space to crack down on rising theft occurring.
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In a new move, a forex trader has been sentenced to two years in prison for crypto theft worth over 20 million naira, a deafening message from the Nigerian judicial system to the crypto world to seat up tightly.
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Below are the tech stories and news you need to know to start your day, carefully curated by Technext.
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Summary of the news
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- The football club, Benfica has partnered with Socios to launch a fan crypto token
- MFS Africa is poised to acquire the US-based GTP for $34 million
- TikTok has launched custom avatars to rival Snapchat’s Bitmoji and Apple’s Memoji
- A forex trader has been sentenced to 2 years in prison for stealing N20 million in cryptocurrency
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Football club, Benfica partners Socios to launch fan crypto token
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Portugal’s biggest football club, S.L Benfica has formally partnered with blockchain-powered fan interaction platform Socios to establish a fan token according to a report by Reuters, It is the first club in the country to join the cryptocurrency community, Technext reports.
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“We have been paying very close attention to Digital Assets,” SL Benfica CEO, Domingos Soares de Oliveira, said in a statement issued by Socios.com.
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“It’s a market which has been influential in our industry of late. Benfica is constantly focused on searching for and delivering a positive experience to our fanbase. We are delighted to be partnering with Socios,” he added.
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Fan tokens are a cryptocurrency that allows fans vote on primarily minor team decisions. Goal celebration songs, armband messages, jersey designs, dressing room messaging, and official bus designs are just a few options available to fan token holders.
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MFS Africa to acquire US-based GTP for $34 million
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We frequently hear of African companies acquiring other African companies, or of foreign companies acquiring African companies. We, however, rarely hear of African companies acquiring foreign companies.
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According to MFS Africa CEO Dare Okoudjou, “It’s mostly for international e-commerce platforms, which are not able or willing to create the user experience that will accept mobile.”
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TikTok launches custom avatars to rival Snapchat’s Bitmoji and Apple’s Memoji
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The feature is rolling out globally today and is accessible from the app’s camera alongside TikTok’s various other effects. To use the feature on yourself, open the app, flip the camera to selfie mode, tap effects, and select the avatar effect. You can then either use a preset look or hit “new” to create a custom avatar.
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This lets you customize your avatar’s face shape, skin tone, hairstyle, and accessories, including makeup and piercings. You can then record a video with the avatar following your movements and facial expressions.
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TikTok says it wants to make the feature as inclusive as possible and will continue to “improve and innovate to make sure the experience is truly representative of all who are on TikTok.” News of the feature first leaked earlier this year.
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Forex trader sentenced to 2 years in prison for stealing N20 million cryptocurrency
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A forex trader who stole N20 million in cryptocurrency has been sentenced to two years in prison by an Ikeja Special Offences Court, Nairametrics reports.
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Justice Oluwatoyin Taiwo on Tuesday sentenced the convict named Shola Henry after finding him guilty of three of the charges proffered against him.
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He was being prosecuted by the Economic and Financial Crimes Commission (EFCC) alongside his company, Henry Enterprises, on eight count amendment charge, bordering on stealing and obtaining money under false pretence.
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The complainant was prompted to petition the EFCC on the alleged fraud because of the failure of the defendant to refund the money.
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Latest in funding
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Other stories we are following
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