“Frosties” NFT Scammers Charged and Apple is Facing a Lawsuit in This Week’s Business and Crypto Roundup

“Frosties” NFT Scammers Charged and Apple is Facing a Lawsuit in This Week’s Business and Crypto Roundup

Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before.

HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in the know about trends across industries.


1. Athletic footwear startup Hylo announced a $3.2 million USD funding round

Focused on creating more sustainable performance-focused footwear, Hylo uses materials science to create state-of-the-art running shoes for athletes that also have a low impact on the planet. Funds will be used “for both product and brand development, as well as sales and marketing expansion.”

2. Twitter is testing a new feature to let multiple people author tweets

While the feature, called Collaborations, isn’t yet publicly available, a version was first spotted in the app’s code by mobile developer Alessandro Paluzzi, according to TechCrunch.  A screenshot shared by Paluzzi shows that users can invite other accounts to collaborate with them on a tweet.

3. Instagram is adding a new multitasking feature

The feature will allow users to respond to DMs without having to switch between their inbox and their feed. The social media giant is also streamlining the process of sharing content by allowing users to tap and hold the share button to easily reshare content with a group of recommended close friends.

4. TikTok announces in-app creation tool called TikTok library

The feature will allow users to more easily participate in trends with a wide selection of content from GIPHY, including sound-enabled GIFs known as GIPHY Clips. TikTok confirmed that the Library will include GIPHY Clips categories for Reactions, Quotes, People and Iconic Moments.

@giphy keep your ? peeled for the newest GIPHY integration on @TikTok ♬ original sound – GIPHY

5. Apple is facing a €5.5 billion EUR lawsuit over the App Store’s developer fees

The Dutch Consumer Competition Claims Foundation claims that Apple is engaging in monopolistic behavior. It calls the lawsuit a “collective claim” on behalf of any iPhone or iPad users in the EU who have made a purchase on an app in the Apple ecosystem.


1. Dennis Rodman is dropping a colorful NFT collection titled “Rodman’s Barbershop”

Rodman partnered with Jeff Hood and Sophie Watts of NFT studio Metacurio to create a series of 5,000+ NFTs. The premier collection will feature illustrated silhouettes of Rodman with varying hair colors and styles, mimicking his own signature game-day looks over the years.

2. Jeff Koons will launch his sculptures to the moon

Made in conjunction with Pace Verso, the gallery’s burgeoning web3 platform, Koons will present his first NFT collection inspired by mankind’s unnerving fascination with space exploration. Each digital token will correspond to a physical sculpture, some of which will be launched into space later this year.

3. DC Comics is launching an NFT collection of Batman cowls

The upcoming DC Bat Cowls Collection will drop 200,000 unique NFTs based on the Dark Knight’s iconic headpieces over the years. Each NFT will sell for $300 USD.

4. The US Justice Department charged the creators behind the Frosties NFT project rug pull

The two men had shut down the project’s Discord and allegedly disappeared with over $1.1 million USD worth of Ethereum. They have been charged in a criminal complaint with conspiracy to commit wire fraud and conspiracy to commit money laundering.

5. Data analytics firm MicroStrategy took on a $205 million USD loan to purchase more Bitcoin

The loan will be used to buy Bitcoin, pay off loan expenses and for general corporate usage. The terms of the three-year loan required at least $410 million USD worth of Bitcoin to be held in collateral.
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