DeFi News Today TheBitTimes.com

Banq Inc, a subsidiary of Prime Trust, has filed for Chapter 11 bankruptcy protection in Nevada. Its bankruptcy plan alleges executive mismanagement surrounding a failed pivot to NFTs and unlawful transfer of corporate assets to a competitor. The plan alleges that in May 2021, former Prime Trust and Banq CEO Scott Purcell decided to pivot Banq away from payments and instead focus on NFTs. This was apparently done without seeking the approval of the board of directors. Then, in December 2021, Purcell allegedly notified the shareholders that they would no longer be focusing on NFTs after Apple limited NFT-related applications in its app store. That same month, Purcell resigned from Banq, along with the company’s CTO Kevin Lehtiniitty and general counsel George Georgiades. Several months earlier, in September 2021, the trio had formed Fortress NFT Group (part of the Fortress group of companies that now operates Fortress Trust). Banq alleges in its bankruptcy plan that Purcell ...

CryptoHarlem founder Matt Mitchell says government and corporate surveillance and citizens’ inability to protect against it are great threats to personal security. Technology can be one’s best friend or, in some cases, their worst enemy . For example, Meta and TikTok seamlessly connect millions of people with loved ones and strangers, and while the platforms are a great resource for finding information and communicating with others, there are valid concerns about violations of users’ Privacy and the monetization and possible outright theft of users’ data.  The same can be said for surveillance and security. There is often a gift-and-a-curse style relationship, wherein the exact surveillance tools meant to keep people safe and deter crime are often used to oppress and control citizens or even ignore the criminal acts of those in power. To explore this contentious topic in greater depth, show hosts Jonathan DeYoung and Ray Salmond invited renowned hacker and activist Matt Mitchell to ...