Innovative Luxury Travel, Below Deck Adventures, & a $10 Million Mistake
Message in a Bottle Newsletter by Lazy 8ight YC
Current Market
As of 4:30 PM Thursday, Bitcoin had increased 2.1% over the last 24 hours to reach US$19,192. According to information from CoinMarketCap, Bitcoin increased in Hong Kong, extending gains from earlier in the day, while Ether increased 6.3% to US$1,613. Following Terra’s announcement of a free Luna airdrop to its holders, Terra Classic, the native token of the first Terra blockchain, increased 51.6% in the previous 24 hours to US$0.00053. The current seven-day gain for Terra Classic is 117.8%. Investors are feeling optimistic about the imminent Merge of the Ethereum network, but the gains could be fleeting, according to Roger Yang, head of business development at Singapore-based digital asset management company, Metalpha, in an email to Forkast. “The oversold rebound and the positive ETH merging announcement are the key drivers of this [gain],” according to Yang. “The true recovery may have to wait until the Federal Reserve has finished raising interest rates in this cycle.”
In a speech on Thursday, the chairman of the Securities and Exchange Commission, Gary Gensler, took aim at the cryptocurrency sector, warning an audience of attorneys that the “overwhelming majority” of the nearly 10,000 existing crypto tokens are securities and are being distributed to the general public in contravention of federal regulations. According to prepared remarks, Gensler stated that “the investing public is buying or selling crypto security tokens because they’re expecting profits derived from the efforts of others in a common enterprise,” paraphrasing the concept of “security” in U.S. court rulings.
Gensler criticized many in the sector who contend that current securities law is inapplicable to cryptocurrencies and have called for new regulations designed expressly for the sector. He stated that the SEC has made it crystal clear how current law applies to the sector through announcements and dozens of enforcement actions, and that no such rules are on the horizon. “Not liking the message does not equate to not receiving it,” according to Gensler. “These are not tokens for the laundromat. The investing public purchases the majority of these tokens, touting or anticipating returns based on others’ efforts, according to the promoters who are promoting them,” he continued. According to Gensler, investors need disclosure to help them distinguish between investments that they believe will succeed or fail.
“Investors should be shielded from deceit and manipulation. These safeguards are required by law,” he said. The SEC announced in May that it was adding 20 new posts to the newly titled Crypto Assets and Cyber Unit, virtually doubling the size of the division. This enforcement personnel is responsible for safeguarding investors in the cryptocurrency market. During his address, Gensler singled out cryptocurrency exchanges and other middlemen, claiming they ought to be registered with the SEC as broker-dealers and securities exchanges.
After unintentionally refunding an Australian woman a sum far greater than she anticipated, exchange site Crypto.com is suffering from a costly error. The Melbourne-based woman requested a $100 refund from the exchange in May of last year but instead received $10 million, according to the Daily Mail. Seven months later, during a year-end audit, Crypto.com discovered the mistake, according to the source. According to the article, the error occurred because an account number was entered in the payment area instead of the initially desired amount. The Singapore-based exchange then legally pursued the user to reclaim the money.
However, the $10 million had already been spent on a multi-million dollar mansion in the Melbourne suburb of Craigieburn, equipped with a home theater and gym, by the time Crypto.com recognized what had transpired. The woman, and her sister, are having a difficult time escaping their actions. According to recent reports, a judge has mandated that their property be sold and the money from the trade be repaid. According to Alexander Tkachenko, CEO of asset tokenization platform VNX, although Crypto.com is a well-known company and will probably prevail in court, this will serve as a lesson for other businesses.
As fresh participants are called into the case, the US$258 billion lawsuit brought by an American Dogecoin investor against Tesla CEO, Elon Musk, accusing him of operating a Dogecoin cryptocurrency pyramid scheme, is heating up. The action, which was originally brought in June by New England electrician, Keith Johnson, has grown to include six new defendants and seven new plaintiffs, all of whom lost money investing in Dogecoin. Musk and the other defendants received summonses in the civil action lawsuit on Wednesday.
Musk’s tunnel building company, Boring Co., and the Dogecoin Foundation, which bills itself as a nonprofit organization overseeing and supporting Dogecoin, are among the new defendants. Various Dogecoin developers, internet influencers who promoted the digital currency, and Billy Markus and Jackson Palmer, the software developers who established Dogecoin and initially referred to the project as a joke, are also defendants in the case. The lawsuit claims the defendants raised Dogecoin’s price by more than 36,000% over the course of two years, let it crash, and then made off with tens of billions at the expense of other stakeholders.
Luxury Hospitality Industry
The Vienna House brand was purchased by Wyndham Hotels & Resorts for $44 million, expanding its upscale and midscale portfolio to include about 40 hotels and more than 6,000 rooms. Wyndham Hotels & Resorts is the largest hotel franchising company in the world with approximately 9,000 hotels in over 95 countries. After closing, the Vienna House brand will change its name to Vienna House by Wyndham and join Wyndham’s stable of recognized brands. With 120 franchised hotels and more than 19,000 rooms, the addition of 28 properties in Germany alone, strengthens Wyndham’s position in one of its largest European markets, as well as its expansion into neighboring nations. The combined portfolio of more than 400 hotels in more than 30 countries will give business and leisure travelers in the region more branded hotel options than Wyndham alone now offers in Europe.
The award-winning hotel, Waldorf Astoria Beverly Hills, located in the center of the famous California city, has introduced a brand-new personalized dining experience that is both centered on and within the seclusion of the visitors’ own rooms. The dinner package is available when staying in a Beverly Hills Suite, Villa Suite, or Presidential Penthouse Suite, and includes a private chef, a personal mixologist, and unique musical performances. As part of the package, which also includes an overnight stay in one of the aforementioned suites, guests can choose from a vast array of different cuisines, including Mediterranean, French, Asian, Moroccan, Middle Eastern, Mexican, Italian, and even American dishes.
It is uniquely intriguing to have a personal mixologist included; a dedicated butler will join the mixologist and chef, along with a premium open bar and the option to add a six-course wine or cocktail pairing to the six- or eight-course dinner. Additionally, the package expands on what luxury means, to include entertainment, in addition to fine dining and high-end drinks. Similar to the three-hour private concert on the terrace, a jazz duo and solo musicians are available upon request through the Waldorf Astoria’s devoted concierge team. The hotel has consistently received the Forbes Five-Star Award, and has also earned a spot in Travel & Leisure’s “World’s Best” Awards for the years 2019–2022. World Report and News. Pricing begins at $4,000.
Yachting Industry
In the most recent installment of the Emmy Award-nominated franchise, Bravo takes viewers off the deck and out of the boat as guests paraglide, explore caverns, and take daring helicopter tours all along Norwegian Fjords. This season of Below Deck Adventure follows the crew of the motor yacht, Mercury, as they navigate through the incredibly small, yet gorgeous, fjords under the guidance of Capt. Kerry Titheradge, a professional captain with decades of expertise on oceans all over the world. In the uncertain chilly seas of Norway, he assigns his crew the duty of creating the experience of a lifetime for their visitors, complete with excursions that include paragliding in Andalsnes and exploring the Valdall Caves.
Chef Jess Condy is a perfectionist who loves to travel, Chief Stew Faye Clarke quit her high-powered job in business to pursue yachting, and stewardesses, Oriana Schneps and Kasie Faddah, who had a troubled past as coworkers, compete for the role of second stewardess. When standards aren’t met and communication breakdowns escalate, while attempting to impress their visitors, the ship’s captain Lewis Lupton, and the deckhands, Nathan Morely, Michael Gilman, and Kyle Dickard, team up in this icy ocean environment. The yacht crew encounters their fair amount of rough waves and band together to provide the charter guests with an unforgettable experience.
Oriana Schneps, the chief marketing officer (CMO) and co-founder of Lazy 8ight Yacht Club (L8YC), an NFT luxury hospitality firm, has always been fascinated with the ocean. She even spent her high school summers working in the New England Aquarium. While still a college student, she joined a scuba diving research mission in the Bahamas, and never turned back, as she sailed away for a profession in yachting. Oriana is a tenacious worker with prior experience as a chief stew, eager to establish herself on the internal team. She must demonstrate her ability to rise above disputes within her division, nevertheless, in order to complete the task at hand.
Schnepp’s Lazy 8ight Yacht Club (L8YC), is integrating Web0 (real world) utility into the Web3 space. In addition to private luxury events in Web0, and one-of-a-kind traversable mega-yacht NFTs, L8YC provides unprecedented yachting services and unique experiences through its exclusive hospitality partnerships. L8YC’s experienced in-house sales team assists with yacht sales needs, whether one is looking to buy their first boat, or trading up for something new. L8YC experts guide clients every step of the way, and Lazy 8ight’s experienced captains also offer one-on-one custom consulting, both virtually, and in-person. The NFT and luxury hospitality company assists boat owners with a vast array of topics, like engine room 101, navigation, yard period consulting, and safety at sea. L8YC members enjoy day charters on one of L8YC’s yachts, starting at just $300. With full and half days options available, holders enjoy access to over 500 day charter yachts, both across the U.S., as well as internationally. L8YC’s in-house team of charter brokers help plan the perfect charter, whether an overnight excursion in Mykonos, or a week-long trip to Alaska. Lazy 8ight designs everything, from the itinerary and activities, down to the vessel itself, all while negotiating the best rates.
Additionally, Lazy 8ight offers private chef services. Their catering partner, The Herbal Chef, curates high-end nights to remember, with the option of CBD & THC infusion to enhance multi-course meals. Chris Sayegh, and his team, create luxury catering for events, offering options like caviar stations, raw seafood bars, luxury buffets, prime beef carving stations, king salmon filets and more. L8YC is also pleased to now offer event security, through their partner, Security & Consulting, and their team of experienced military special operations individuals, ex-law enforcement, and retired members of the intelligence communities. Lazy 8ight’s security partner utilizes extensive training to ensure events are safe and secure, while providing the highest quality close protection, surveillance, and counter measure programs to prominent clients, VIPs, select corporations, and organizations, worldwide.
Be sure to visit Lazy 8ight Yacht Club’s website at http://L8yachtclub.com for minting and luxury hospitality service inquiries, or visit their Discord, Twitter, Medium, and Instagram pages on social media to stay up-to-date on current L8YC news.
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