Terraform Labs to shut down after $4.5B SEC settlement: Law Decoded
Terraform Labs has agreed to pay the United States Securities and Exchange Commission (SEC) roughly $4.47 billion as part of its settlement with the securities regulator. The duo settled after a jury found Terraform Labs and its co-founder liable for the Terra ecosystem collapse, which erased $40 billion in investor assets.
Chris Amani, CEO of Terraform Labs, has announced that the firm will cease operations following the settlement. The company plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
#NekoNews @OriNeko
Terraform Labs has agreed to pay the United States Securities and Exchange Commission (SEC) roughly $4.47 billion as part of its settlement with the securities regulator. The duo settled after a jury found Terraform Labs and its co-founder liable for the Terra ecosystem collapse, which erased $40 billion in investor assets.
Chris Amani, CEO of Terraform Labs, has announced that the firm will cease operations following the settlement. The company plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
#NekoNews @OriNeko
Alloy by Tether offers more than just aUSD₮; it provides an open platform for developing a variety of collateralized synthetic assets, including products that generate yield.
By using Tether Gold (XAU₮) as collateral, users can generate aUSD₮, facilitating digital transactions, payments, and remittances without the need to sell XAU₮.
The value of aUSD₮ is pegged to the USD, and it is overcollateralized by Tether Gold, which is backed by physical gold stored in Switzerland.
Follow @OriNeko for more crypto updates. Join📷 our Instagram to get free market insights
#Neko101 @OriNeko
By using Tether Gold (XAU₮) as collateral, users can generate aUSD₮, facilitating digital transactions, payments, and remittances without the need to sell XAU₮.
The value of aUSD₮ is pegged to the USD, and it is overcollateralized by Tether Gold, which is backed by physical gold stored in Switzerland.
Follow @OriNeko for more crypto updates. Join
#Neko101 @OriNeko
Please open Telegram to view this post
VIEW IN TELEGRAM
The DOT community approved the Join-Accumulate Machine (JAM) protocol. On May 27, Polkadot founder Gavin Wood indicated a nearly unanimous governance vote. With it, Web3 Foundation has launched a prize pool of 10 million DOT tokens worth $65 million. This is toward delivering enhanced scalability and flexibility in blockchain-based applications with the DOT network.
#NekoChart @OriNeko
Please open Telegram to view this post
VIEW IN TELEGRAM
TradingView
BINANCE:DOTUSDT Chart Image by orineko
Solana Layer 2 Sonic raises funds at $100 million token valuation
Sonic, a Solana Layer 2 network focused on gaming, has raised $12 million in a Series A funding round. Bitkraft Ventures led the round, with Galaxy Interactive, Big Brain Holdings and others participating, Sonic said Tuesday.
The project began raising funds for the round in April and closed it earlier this month, Sonic founder and CEO Chris Zhu told The Block. The round was structured as equity with token warrants and brought Sonic's fully diluted valuation to $100 million, Zhu said.
As part of the deal, Bitkraft has joined Sonic's board. The Series A round brings Sonic's total funding to $16 million, having previously raised $4 million in a seed round in 2022.
#NekoNews @OriNeko
Sonic, a Solana Layer 2 network focused on gaming, has raised $12 million in a Series A funding round. Bitkraft Ventures led the round, with Galaxy Interactive, Big Brain Holdings and others participating, Sonic said Tuesday.
The project began raising funds for the round in April and closed it earlier this month, Sonic founder and CEO Chris Zhu told The Block. The round was structured as equity with token warrants and brought Sonic's fully diluted valuation to $100 million, Zhu said.
As part of the deal, Bitkraft has joined Sonic's board. The Series A round brings Sonic's total funding to $16 million, having previously raised $4 million in a seed round in 2022.
#NekoNews @OriNeko
Binance Coin has announced that the BNB Smart Chain mainnet is expected to undergo a scheduled hard fork on the 20th of June at 6:05 UTC. Refer to the official tweet by BNB
#NekoChart @OriNeko
Please open Telegram to view this post
VIEW IN TELEGRAM
TradingView
BINANCE:BNBUSDT Chart Image by orineko
Arkham posts $150K bounty to find creator of DJT Trump token
Arkham Intelligence has offered a $150,000 bounty for whoever can identify the creator of the Solana-based token DJT. The bounty will be live for eight days and paid in 100,000 Arkham (ARKM), worth $1.56 at the time of writing
#NekoNews @OriNeko
Arkham Intelligence has offered a $150,000 bounty for whoever can identify the creator of the Solana-based token DJT. The bounty will be live for eight days and paid in 100,000 Arkham (ARKM), worth $1.56 at the time of writing
#NekoNews @OriNeko
Please open Telegram to view this post
VIEW IN TELEGRAM
SEC Is Closing Investigation into Ethereum as a Security
The Securities and Exchange Commission (SEC) is closing its investigation into Ethereum, the second-largest cryptocurrency by market capitalisation, as a security, Consensys confirmed today (Wednesday).
Consensys further confirmed that the decision came after the US-based blockchain firm sent a letter to the regulator on June 7 asking to “confirm that the May ETH ETF approvals, which were premised on ETH being a commodity, meant the agency would close its Ethereum 2.0 investigation.”
#NekoNews @OriNeko
The Securities and Exchange Commission (SEC) is closing its investigation into Ethereum, the second-largest cryptocurrency by market capitalisation, as a security, Consensys confirmed today (Wednesday).
Consensys further confirmed that the decision came after the US-based blockchain firm sent a letter to the regulator on June 7 asking to “confirm that the May ETH ETF approvals, which were premised on ETH being a commodity, meant the agency would close its Ethereum 2.0 investigation.”
#NekoNews @OriNeko
“German Government (BKA)” selling its BTC? Arkham-tagged wallet sparks curiosity
According to Arkham data, the crypto wallet has held nearly 50,000 BTC since February 2024, only to sell nearly 6,500 BTC on June 19. The funds are believed to have been seized from the pirated movie website operator Movie2k.
The German government-linked wallet made four transactions earlier today, with one outflow of 6,500 BTC worth $425 million to a wallet address bc1q0unygz3ddt8x0v33s6ztxkrnw0s0tl7zk4yxwd and another of 2,500 BTC worth $154 million to its own address.The wallet address received 6,500 BTC and then moved 2,500 BTC to another wallet address, bc1qq0l4jgg9rcm3puhhfwaz4c9t8hdee8hfz6738z. The new wallet then moved the newly received funds in batches of 500 BTC and sent out four transactions. Two of these transactions were made to crypto exchanges such as Kraken and Bitstamp, while the other two were moved to non-labeled private addresses.
#NekoNews @OriNeko
According to Arkham data, the crypto wallet has held nearly 50,000 BTC since February 2024, only to sell nearly 6,500 BTC on June 19. The funds are believed to have been seized from the pirated movie website operator Movie2k.
The German government-linked wallet made four transactions earlier today, with one outflow of 6,500 BTC worth $425 million to a wallet address bc1q0unygz3ddt8x0v33s6ztxkrnw0s0tl7zk4yxwd and another of 2,500 BTC worth $154 million to its own address.The wallet address received 6,500 BTC and then moved 2,500 BTC to another wallet address, bc1qq0l4jgg9rcm3puhhfwaz4c9t8hdee8hfz6738z. The new wallet then moved the newly received funds in batches of 500 BTC and sent out four transactions. Two of these transactions were made to crypto exchanges such as Kraken and Bitstamp, while the other two were moved to non-labeled private addresses.
#NekoNews @OriNeko