Recent Court Ruling Weakens SEC’s Case A recent decision by the Second Circuit Court of Appeals could significantly weaken the SEC’s case against Ripple Labs. The court ruled that the SEC cannot seek disgorgement (the return of improperly obtained funds) unless investors can prove they suffered actual financial losses. This ruling could provide a lifeline…
Case Dismissed Due to Lack of Evidence Australian prosecutors have dropped the lawsuit filed by billionaire Andrew Forrest against Meta (formerly Facebook) over the use of his image in crypto scam ads. The decision comes as a setback for Forrest, who accused Meta of failing to prevent the fraudulent ads. Forrest’s Allegations In February 2022,…
JPMorgan Chase CEO Jamie Dimon has expressed concerns about several “significant uncertain forces” that could impact the global economy. Inflation and Conflicts Dimon highlighted persistent inflation and ongoing violent conflicts as major worries. He noted that geopolitical tensions and the ongoing war in Ukraine could further strain the economy. Quantitative Tightening Dimon also expressed uncertainty…
Customers Seek $5 Million in Damages A billion-dollar bank in the US is facing a class-action lawsuit for allegedly charging customers excessive overdraft fees. Overdraft Fee Practices Customers LaNita Criswell and LaSheena Neal claim that Frost Bank imposed $35 overdraft fees on transactions that did not exceed account balances. They allege that this practice violates…
Unauthorized Mining Operation Australian authorities have confiscated over $41 million worth of cryptocurrency from a blockchain mining group operating without a license. The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against NGS Crypto, NGS Digital, and NGS Group, along with their directors. Protecting Investors ASIC alleges that the companies’ operations violated the…
Price Surge May Not Be Immediate Hannah Phung, an analyst at SpotOnChain, believes that Bitcoin’s price may not rise immediately after the Halving. Historically, significant price gains have occurred 6-12 months after the event. Supply and Demand The Halving reduces the supply of Bitcoin, which can drive up its price, especially when demand is stable….
An altcoin project centered around artificial intelligence (AI) and digital commodities has made waves after a surprise listing on Binance, the world’s largest cryptocurrency exchange. Binance Adds Bittensor (TAO) Binance announced the official launch of trading services for Bittensor (TAO), triggering a 9% surge in the asset’s value. However, the coin later retreated due to…
Former security engineer Shakeeb Ahmed has been sentenced to three years in prison for hacking two decentralized cryptocurrency exchanges and stealing over $12 million. Exploiting Crypto Vulnerabilities Ahmed manipulated fake pricing data to steal $9 million from one exchange. He then targeted Nirvana Finance, exploiting a vulnerability to buy and resell crypto assets at inflated…
The Australian Securities and Investments Commission (ASIC) is taking legal action against two crypto companies and their directors for operating without a license. NGS Group Companies Targeted Investors The NGS Group, including NGS Crypto, NGS Digital, and NGS Group, allegedly offered fixed-rate returns on blockchain mining packages to Australian investors. ASIC claims they encouraged investors…
Long-Term Holders Reach Record High According to IntoTheBlock, Litecoin’s long-term holders (LTHs) have hit a new milestone. Over 62.5% of all LTC investors now qualify as LTHs, meaning they’ve held their coins for over a year. Significance of LTHs LTHs are considered to have a strong resolve and are less likely to sell their coins,…
