Gemini Settles $50M Fraud Lawsuit
.@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
Regulation
Biden Renominates Anti-Crypto SEC Commissioner Crenshaw
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
Terraform Labs Settles $4.5B with SEC Approval #Crypto
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
MiCA Framework Finalized by EU Banking Authority #Crypto
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
SEC’s XRP Appeal: Lawyers Discuss Settlement Date #Crypto
The Ripple vs SEC lawsuit nears final judgment, with a possible appeal by the SEC on XRP programmatic sales. Lawyers predict no settlement before judgment. #Ripple #SECUpdates
Coinbase CLO Slams SEC Deal with Kwon #Crypto
Coinbase CLO Paul Grewal criticizes SEC’s $4.47B settlement with Do Kwon & Terraform Labs, highlighting inadequate investor compensation. #Crypto #Regulation
Terraform Labs Settles SEC Case for $4.47 Billion #Crypto
Terraform Labs settles with the SEC for $4.47B over the collapse of $LUNC and $UST. Awaiting judge’s approval, this could be one of the largest crypto settlements. #CryptoNews
Elon Musk Drops Lawsuit Against OpenAI
Elon Musk has withdrawn his lawsuit against @OpenAI and CEO Sam Altman, citing efforts to enforce open-source principles. This move impacts investor sentiment and AI ethics. #AI #Ethics
Ethereum Restaking Boost: Kalypso Partners Symbiotic #Ethereum
Kalypso partners with Symbiotic to enhance security in decentralized ZKP networks using Ethereum restaking. Transactions are settled on Arbitrum Nova for high throughput. #Crypto #Blockchain
Chainalysis Wins $80M Employment Contract Lawsuit Dismissal #Security
Manhattan Supreme Court dismisses $80M lawsuit against @chainalysis. Plaintiff Blake Ratliff’s claims on stock options were deemed too late and unsupported by written agreements. #LegalUpdate #BlockchainNews
Ethereum ETF Decision Looms: SEC Feedback Week #Ethereum
This week, the SEC will give feedback on Ethereum ETF S-1 filings, crucial for $ETH investment products. Industry players await clarity amidst mixed signals from SEC Chair Gary Gensler. #CryptoNews
Ethereum ETF Approval Awaits Crucial SEC Decision #Ethereum
Ethereum ETF providers await SEC feedback by June 14 after updated applications. Partial approval sparks market potential, with experts predicting significant capital influx. #Ethereum #CryptoNews
Ethereum ETF Fast-Tracked by SEC Approval #Ethereum
The SEC has fast-tracked @ProSharesETF’s Ethereum ETF filing, with a decision due by July 2024. ProShares partners with Coinbase Custody for security. $ETH is trading at $3,671. #CryptoNews
Friend.tech Partners Conduit, Unveils Friendchain #Startups
Friend.tech partners with Conduit to create Friendchain, a native blockchain using the $FRIEND token as gas. Launch date TBD. $FRIEND up 15% to $0.8439. #Crypto #Web3