Snippings

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A third victim said he had been vomiting under a bridge when a mugger forced him to unlock his phone using a fingerprint, then changed his security settings and stole £28,700, including cryptocurrency.

From ‘Crypto muggings’: thieves in London target digital investors by taking phones | Cryptocurrencies | The Guardian:

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American technology entrepreneur Zaryn Dentzel told police he had been attacked at home in Madrid by masked thieves. He said they tortured him with a knife and stun gun before disappearing with millions of euros in bitcoin.

From ‘Crypto muggings’: thieves in London target digital investors by taking phones | Cryptocurrencies | The Guardian:

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The Age Verification Providers Association (AVPA) is creating a US division, in response to the rapidly growing demand across North America for technology that delivers rigorous digital age checks. Whether it is to create social media accounts on well-known platforms such as Meta, Twitter, TikTok, Instagram or Reddit; to buy age-restricted goods, such as alcohol, vaping products or even marijuana; to access online gambling, as it is rapidly legalized by individual states; or to help websites comply with child safety laws such as the Children’s Online Privacy Protection Act (COPPA), demand for online age verification which goes beyond simply asking a user to check a box or input their date of birth, is soaring.

From New Trade Body Launches, Representing High Quality, Privacy-Preserving Online Age Verification Providers in North America – AU10TIX:

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JPMorgan Chase expects to lose more than $1bn in the next few years on its new digital-only international consumer bank that began operations in the UK last year.

Sanoke Viswanathan, JPMorgan’s chief executive for international consumer growth initiatives, said during an investor day presentation on Monday that the bank hoped the digital Chase business would break even by 2027 or 2028.

From JPMorgan warns overseas digital bank losses could top $1bn after UK push | Financial Times:

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JPMorgan’s (JPM.N) consumer bank Chase in Britain has attracted more than half a million customers since launching eight months ago, in the most detailed snapshot given by the Wall Street giant to date on how the digital venture is progressing.

Chase has also amassed 10 billion dollars’ worth of customer deposits in Britain and has processed 20 million payments,

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Variable Recurring Payments lets businesses collect customer payments via the Faster Payments service, meaning payments can be received in near-real time.

From NatWest completes first ‘non-sweeping’ customer payments through VRP:

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One of the Mutant Apes was flipped for $42,000, Motherboard reported. Transaction ledgers show the Bored Ape was also sold by the scammer to a pseudonymous collector known as “DarkWing84,” who purchased it for more than $200,000. The NFT was then swiftly transferred to a collection called “GBE_Vault,” which is where it currently sits.

If the current owner “wanted to cause trouble for Seth Green they probably could, because that person becomes the holder” of the commercial usage rights, said Daniel Dubin, a tax and litigation attorney at Alston & Bird LLP.

From Someone Stole Seth Green’s Bored Ape And Star Of His New NFT Show:

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42% of UK respondents say it’s been so long since they used anything except contactless, they can’t even remember their PIN anymore

From 77% of Gen Z are ditching physical wallets for mobile wallets:

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U.S. Federal Reserve Vice Chair Lael Brainard said that a central bank digital currency (CBDC) could exist alongside stablecoins and provide a measure of safety. Brainard’s comments were part of testimony released in advance of her appearance in front of the House Financial Services Committee on Thursday.
“CBDC could coexist with and be complementary to stablecoins and commercial bank money by providing a safe central bank liability in the digital financial ecosystem, much like cash currently coexists with commercial bank money,” Brainard wrote.

From Fed Vice Chair Lael Brainard Says CBDC Could Coexist With Stablecoins:

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The company, dual-headquartered in San Francisco and Dublin, processed $640 billion in payments last year across 50 countries. Its gross revenue, still mostly the 2% to 3% it collects on such volume, reached nearly $12 billion in 2021, according to sources with knowledge of its financials, up about 60% year over year. Net revenue, which excludes the cut Stripe passes along to partners like Visa and Chase, reached nearly $2.5 billion.

From The Collison Brothers Built Stripe Into A $95 Billion Unicorn With Eye-Popping Financials. Inside Their Plan To Stay On Top:

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BPI’s letter also argued that “one of the most frequently cited reasons in support of a CBDC is that it would increase financial inclusion, yet, as discussed further below, we are unaware of any substantiated use case for CBDC that would benefit low- and moderate-income people.”

From Wall Street decries Digital Dollar as the destruction of banks:

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