Australian billionaire Andrew Forrest’s lawsuit against @Meta proceeds. U.S. Judge denies Meta’s dismissal motion. Forrest alleges Meta allowed over 1,000 fraudulent crypto ads using his image, bypassing Section 230 defense. Significant implications for digital ad standards. #Update
David Hirsh, ex-head of the SEC’s Cryptocurrency Division, steps down after 9 years. His tenure saw major legal battles with Kraken, Coinbase, and Binance. Future U.S. crypto regulation remains uncertain amid upcoming elections. #CryptoRegulation #Update
Helium Mobile (@helium) launches a tech stack licensing program for device manufacturers, enhancing global access to affordable wireless connectivity. Key features include TrustZone, Secure Boot, and real-time network management. First partner: MNTD. #TechNews #Update
@UpholdInc will delist several stablecoins, including $USDT, $DAI, and $FRAX, by July 1, 2024, to comply with MiCA regulations in the EEA. Convert assets by June 27 or they’ll be auto-converted to $USDC on June 28. #CryptoRegulations
David Hirsch, ex-chief of SEC’s crypto unit, denies joining memecoin platform Pump.fun as head of trading. Hirsch plans a family break before son’s college, with next career move undisclosed. Community reacts with 17 David Hirsch tokens. #CryptoNews
David Hirsch, head of the SEC’s crypto-assets division, has resigned after nearly nine years. His tenure saw key regulatory milestones for cryptocurrency exchanges and DeFi projects. Hirsch’s departure comes amid SEC staffing challenges. #CryptoRegulation #Update
The US Supreme Court will review @Nvidia’s request to dismiss a securities fraud lawsuit. Shareholders allege Nvidia misled investors about crypto-related sales. The outcome could shape future securities fraud cases. $NVDA #Update
Uniswap Labs challenges the SEC’s Wells notice, calling the agency’s DeFi regulation attempts misguided and legally flawed. They argue that the $UNI token is not an investment contract and assert their decentralized exchange aligns with the SEC’s mission. #DeFi #Update
Ripple CEO @bgarlinghouse announces collaboration with 10 governments on CBDCs using Ripple’s blockchain to boost global financial security and efficiency. Also, Ripple’s new stablecoin RLUSD will link to the US dollar across XRP Ledger and Ethereum. #Update #CBDC
SEC accuses @Ripple of repeating past violations in their ODL service, with potential $2B fines looming. Court’s uncertain on regulation breaches. XRP price drops amid legal battles. Ruling expected by August. $XRP #Update
.@Gemini agrees to a $50M settlement over fraud claims related to its Gemini Earn program, affecting over 230,000 users. The deal includes restitution and a permanent ban on crypto lending in NY. #CryptoNews #Update
President Biden has renominated Democrat Caroline Crenshaw as SEC Commissioner, sparking backlash from the crypto community due to her anti-crypto stance and vote against spot Bitcoin ETFs. Critics highlight tensions between Biden’s policies and crypto supporters. #CryptoNews
New York District Judge Jed Rakoff approves a $4.47B settlement where Terraform Labs will pay the SEC, marking the largest corporate fine ever. Former CEO Do Kwon to reimburse $204M. #Crypto #Regulation
The European Banking Authority finalizes the MiCA crypto framework, requiring issuers of ARTs and EMTs to meet strict liquidity and recovery standards. This boosts EUR-stablecoin use. #CryptoRegulation
