📈Crypto Exchange Gemini to Pay $50 Million in NY Fraud Suit

Gemini agreed to settle New York crypto fraud claim by returning $50m of digital assets to investors who were locked out of their accounts when the ‘Gemini Earn’ program collapsed. Gemini will also be banned from operating a crypto lending program in New York.

In May, Genesis reached $2bn settlement with New York.

Last year October, crypto companies Gemini and Genesis were sued for allegedly defrauding thousands of customers of $1.1bn, which later expanded to $3bn.

#NekoNews @OriNeko

Synthetix Network Token to Release New Version in June

Synthetix Network Token is entering a crucial phase of its v.3.0 rollout, which will introduce a new foundation and architecture for the protocol. The key changes include accelerating real yield by replacing inflationary SNX rewards with real yield from trading fees and a buyback/burn mechanism to reduce SNX supply. Additionally, sUSD will be backed by diverse assets like SNX, ETH, USDC, and yield-generating collateral, increasing scalability.

The migration to v.3.0 will begin in June and be carried out in two phases. The first phase will involve SNX stakers on the Ethereum mainnet migrating in June. The second phase will extend the migration to Optimism SNX stakers after the Ethereum phase. The migration will be seamless, with SNX and sUSD in V2X being migrated 1:1 in v.3.0 without burning staker sUSD debt.

📈 Neko Forecasting $SNX for short-term correction and bounce from current marked demand zone for buy position.

#NekoChart @OriNeko

🔴Optimism to Release Superchain Identity in June

Optimism is set to launch a new product called Superchain Identity in June. This new feature will provide Super.box and Сhain.box subdomains. The Superchain Identity is expected to enhance the functionality and user experience of the platform. Refer to the official tweet by OP

📈 Neko Forecasting $OP for short-term correction and bounce from current marked demand zone for buy position.

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9️⃣Tether Introduces Alloy: A New Class of Digital Assets

Alloy represents a new category of tethered assets that mirror the price of an underlying asset, stabilized by over-collateralization with liquid assets and liquidity pools on the secondary market.

The first token in this new class will be aUSDT—a digital currency pegged to the US dollar and backed by Tether Gold tokens, which are linked to physical gold bars stored in a Swiss bank. Users can now mint aUSDT using Tether Gold as collateral via a smart contract on the Ethereum network.

Tether envisions Alloy as a platform where users can create their own tokens, backed by Tether Gold, and peg them to selected fiat currencies.

#NekoNews @OriNeko

VeChain to Launch VeBetterDAO Mainnet in June

VeChain will host VeBetterDAO mainnet in June. Refer to the official tweet by VET

📈 Neko Forecasting $VET for short-term correction and bounce from current marked demand zone for buy position.

#NekoChart @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.

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💶Polkadot Approves $65 Million Fund to Develop JAM Architecture

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.

📈 Neko Forecasting $DOT for short-term correction and bounce from current marked demand zone for buy position.

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