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Logan Paul looks to refund CryptoZoo investors

YouTube sensation and social media influencer Logan Paul has unveiled a refund program for disgruntled investors of his ill-fated CryptoZoo non-fungible token (NFT) game, pledging to personally commit over $2.3 million for the initiative. However, the catch is that participants must forfeit any legal claims against Paul in exchange for a refund.

In a recent post on X (fka Twitter), Paul acknowledged the disappointment surrounding the failed Pokémon-inspired NFT game, which was initially announced in August 2021. The CryptoZoo project aimed to create a play-to-earn game where players could buy, sell, breed, and trade exotic animals represented as NFTs.

You can read more on the matter here.

What’s going on?

• Canada’s Unemployment Rate Flat At 5.8% In December (theDeepDive)

• Florida Is First to Win Approval to Import Cheaper Medications From Canada (Bloomberg)

• Former Harvard President Claudine Gay May Still Earn $900,000 When She Returns to Faculty Job (theDeepDive)

• How a 40-ounce cup turned Stanley into a $750 million a year business (CNBC)

• Countries Urge Citizens to Leave Lebanon Quickly Following Hamas Senior Leader’s Assassination in Beirut (theDeepDive)

• TSA director arrested on charges of exploiting elderly relative with dementia (FOX)

• U.S. employers add a surprisingly strong 216,000 jobs in a sign of continued economic strength (BNN)

• Chip Wilson Blasts Lululemon for Being Inclusive, Says It’s ‘Trying to Become Like the Gap’ (theDeepDive)

• NCAA and ESPN ink 8-year, $920 million media rights deal (CNBC)

• DEA Asserts Final Authority in Marijuana Scheduling Review (theDeepDive)

• American Tower to Sell India Business to Brookfield in $2.5 Billion Deal (Bloomberg)

What’s the latest?

• Canadian Unemployment: Canada's labor market showed a significant slowdown in December, adding only about 100 jobs, far below the expected 15,000, while the unemployment rate remained steady at 5.8%. This underperformance reflects an economy constrained by high borrowing costs and cooling demand. Despite this, wage growth for permanent employees accelerated to 5.7%, indicating strong wage momentum.

• US Job Market: The U.S. job market added 216,000 jobs in December, surpassing November's gain of 173,000 and maintaining the unemployment rate at 3.7% for the 23rd consecutive month. This robust job growth indicates a resilient economy, despite the Federal Reserve's interest rate hikes since March 2022 to combat inflation.

• Return of ISIS?: Islamic State (IS), also known as ISIS, has been operating discreetly since being substantially weakened by a U.S.-led coalition. The group's goals remain focused on establishing a territorial caliphate to rule the world. Following the collapse of its caliphate, IS shifted tactics, moving from centralized governance in Raqqa and Mosul to operating in dispersed, autonomous cells across the Middle East. The United Nations estimates about 10,000 IS fighters remain in Iraq and Syria.

• Alberta Wildfires: In 2023, Alberta experienced an average number of wildfires, but the area burned set a record high. The province saw 1,088 wildfires burning approximately 2.2 million hectares, far exceeding the five-year average of about 226,000 hectares. Over 60% of these fires were human-caused, while lightning caused 35%, accounting for 80% of the total area burned.

• Red Sea Reroute: Maersk is diverting all its shipping vessels from Red Sea routes to travel around Africa's Cape of Good Hope due to increased attacks by Houthi militants in the Gulf region. This rerouting, which aims to avoid the shorter Suez Canal route, will add about 10 days to journey times and significantly increase shipping costs.

Nearing copper production milestone

The stock market and stuff

• Is It Delulu To Wait On Spot Bitcoin ETF? Approval Anticipated On Friday (theDeepDive)

• NatWest chair sparks backlash for saying it’s not ‘that difficult’ to buy a property in Britain (CNBC)

• Ric Flair Launches Meme Coin That Is “Intrinsically Useless” (theDeepDive)

• Tesla recalls more than 1.6 million cars in China over problems with Autopilot, locks (CNBC)

• Endeavour Mining Fires CEO Over US$5.9 Million “Irregular Payment Instruction” (theDeepDive)

In the juniors

• NuLegacy Gold Stops Exploration After Failing To Find Gold, Despite Spending Tens Of Millions (theDeepDive)

• New Found Gold Adds 150,000 Metres To Ongoing Drill Program At Queensway (theDeepDive)

• Odd Burger Reports Sudden Departure Of CFO (theDeepDive)

FULL DISCLOSURE: Carlyle Commodities is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Carlyle Commodities. The author has been compensated to cover Carlyle Commodities on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.