Judge labels 2 obscure altcoins as commodities in $120M Ponzi case
An Illinois judge has sided with the Commodity Futures Trading Commission in a crypto fraud case, labelling two altcoins, OHM and KLIMA, as commodities. Go to Source
Month: July 2024
SEC wants retailer’s crypto suit tossed as it’s based on ‘phantom’ policy
A Texas bag retailer sued the SEC to get legal protection for a token airdrop, but the regulator says the suit was based on a policy that doesn’t exist. Go to Source
Mara Collapse: African Crypto Exchange Burns $16 Million for Salaries and Bonuses
Pan-African crypto exchange Mara reportedly lost approximately $16 million out of the $23 million raised from investors. Following the exchange’s collapse, founder and CEO Chinyere Nnadi is said to have launched a new entity called Jara. Nnadi reportedly argued that the exchange depleted its raised capital by paying high salaries to attract talent. CEO Avoids … Read more
Bitcoin Core devs set up new policy aimed at handling ‘critical bugs’
Bitcoin Core developer Antoine Poinsot said there is a dangerous perception that Bitcoin Core is free of bugs, noting it is “dangerous and, unfortunately, not accurate.” Go to Source
Nigerian Student Returns 90 Mistakenly Sent Solana Tokens, Rewarded for Honesty
A crypto influencer recently praised a Nigerian student who agreed to return Solana tokens worth several thousand dollars that were mistakenly sent to his crypto wallet. After the influencer revealed the incident, well-wishers in the crypto community, impressed by the student’s honesty, began sending tips to his crypto wallet. Influencer: Incident Highlights Hope for Crypto … Read more
Mexican Startup Kavak Issues Tokenized Debt to Invest in Brazil’s Used Car Business
Kavak, one of the largest Latam-based startups in the used car business, has issued tokenized debt to invest in the Brazilian car market. According to local sources, the company has already tokenized almost $1 million in commercial notes using Liqi, a tokenization platform, and aims to issue over $5 million. Kavak Bets on Tokenized Debt … Read more
Bitcoin falls below $58K on Coinbase, first time in 2 months
The price of Bitcoin briefly dropped to $57,874 amid a wider sell-off in the crypto market, while $54.9 million in Bitcoin long positions have been liquidated in the last 24 hours. Go to Source
‘Buy the dip’ mentions on social platforms surge as Bitcoin stumbles
Mentions of “buy the dip” on Reddit, X, 4chan and Bitcoin Talk doubled over the last two days as Bitcoin has fallen to lows unseen in months. Go to Source
Kamala Harris memecoin surges 250% amid calls for Biden to bow out
A Joe Biden-themed memecoin tanked nearly 75% since his debate against Donald Trump last week, while his possible replacement’s memecoin has surged. Go to Source
CFTC Wins Case Against Crypto Fund Operators
The U.S. Commodity Futures Trading Commission (CFTC) filed a case against Sam Ikkurty, Ravishankar Avadhanam, and Jafia LLC for civil violations of the Commodity Exchange Act (CEA), specifically involving cryptocurrency investments. The court granted the CFTC’s motion for summary judgment on Monday, finding that the defendants misrepresented the performance of their crypto funds, operated a … Read more
