SEC - Page 20

3433 result(s) found.

Shrewd Trump the Felon Memecoin Investor Secures 4,100% Profit, But Waits For Another 15,000% Surge

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Trump the Felon (TRUMPFEL) is a newly launched memecoin on the Solana blockchain, and it has the potential to become a mainstream coin, like Dogecoin (DOGE) and Shiba Inu (SHIB).

An early buyer of Trump the Felon (TRUMPFEL) has generated a profit of almost 3,000%, turning a $170 investment into over $5,000.

The shrewd investor made the purchase several hours after TRUMPFEL began trading on Raydium, and he hasn’t sold any of his tokens yet, as the price of Trump the Felon is expected to rise another 15,000% from its current price.

In fact, most buyers of TRUMPFEL are deciding to hold onto their tokens and wait for further gains in the coming days and weeks, rather than realize their current profits.

TRUMPFEL will be listed on KuCoin, one of the largest centralized exchanges in the world, in July – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Trump the Felon.

In around 24 hours after launch, Trump the Felon rallied over 4,200% to reach a market cap of $1.1 million – and it is expected to soon hit a $70 million market cap.

Currently, Trump the Felon can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.

To buy TRUMPFEL on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump the Felon by entering its contract address – DspvMmTQrMCdaesTCFPf4PPGQxxRf2UPmj5b6CRUdaQf – in the receiving field.

Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.

If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.

$1.19 Billion Lost to Onchain Security Breaches in First Half of 2024

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The latest CertiK Web3 Security Report reveals that onchain security incidents resulted in $1.19 billion in losses during the first half of 2024, highlighting the urgent need for enhanced security measures.

The report indicates that phishing attacks and private key compromises were the primary causes, with phishing attacks alone causing nearly $498 million in losses.

In a written Q&A with Cointelegraph, CertiK co-founder Ronghu Gu emphasized the importance of multifactor authentication, such as two-factor authentication (2FA) and “security keys.”

He stated, “All wallets with significant funds should be interacted with using a hardware wallet or similarly secure and well-designed key management solution.”

The second quarter of 2024 witnessed the most significant security breach with the DMM Bitcoin attack, resulting in a loss of $304 million.

This incident is now among the most significant hacks in history. The Japanese crypto exchange was compromised, leading to the theft of 4,502.9 Bitcoin and prompting the platform to enhance its security measures to prevent future thefts.

Another notable incident involved the Turkish crypto exchange BtcTurk, which suffered a cyberattack targeting hot wallets and resulting in a $90 million loss.

Gu informed Cointelegraph that these breaches demonstrate that “attackers are still out there” testing the defenses of major crypto custodians.

He stressed the necessity of proactive measures and a reactive response team to handle incidents.

In response to the significant losses in the first half of 2024, the United States introduced and passed the FIT21 regulatory framework bill.

This bill aims to enhance consumer protections and support innovation in the crypto sector through a comprehensive digital asset regulatory framework.

READ MORE: Chromia Reveals 16 July As Launch Date For Its MVP Mainnet

It received bipartisan support and is expected to create a safer, better-regulated environment for digital assets in the United States.

Gu noted that the FIT21 bill “will likely attract more institutional investors and drive greater compliance efforts and requirements across the industry.”

Despite the concerning findings of CertiK’s report, Gu explained that “the trend is not pointing downward.”

Although crypto hacks caused nearly $385 million in losses in May, exploits and hacks decreased by 54.2% in June.

PeckShield data indicates that $176.2 million was lost to crypto hacks in June, showing a significant reduction from May.

Gu advised that while these losses might be a part of the industry for now, users can take “simple measures” to protect themselves, such as implementing 2FA.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

SEC Seeks Dismissal of Beba’s Lawsuit Over Token Classification, Citing Lack of Imminent Regulatory Action

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The Securities and Exchange Commission (SEC) has requested a judge dismiss a lawsuit from an American apparel company aiming to protect itself from possible regulatory actions related to a past airdrop.

On July 3, the SEC filed to dismiss a lawsuit from Beba and the DeFi Education Fund (DEF) submitted on March 25.

The suit asked a Waco District Court judge to declare that Beba’s token giveaway was not a security.

The SEC contends the lawsuit is “premature and premised on a phantom” policy.

Beba’s lawsuit alleged the SEC would classify BEBA tokens as securities and initiate legal action, citing that the SEC “has adopted a de facto rule, without notice or comment, that the ‘vast majority’ of digital assets ‘are securities,’” referencing a 2022 statement from Chair Gary Gensler.

In its motion to dismiss, the SEC asserted the lawsuit was “premature and is premised on a phantom, a supposed policy that the Commission never adopted and does not actually exist.”

The SEC highlighted that Beba and DEF did not cite “a rule, order, or other Commission action that reflects the promulgation of the supposed policy.”

Furthermore, the SEC noted the complaint did not demonstrate that regulatory action against Beba was “imminent or threatened” or that the SEC had investigated the company.

READ MORE: RedStone Oracles Secures $15 Million in Series A Funding to Expand Gas-Optimized Blockchain Oracle Solutions

“In effect, plaintiffs ask this Court to adjudicate the legality of a policy that does not exist and to block potential future enforcement action that may never occur.”

The SEC has pursued multiple crypto companies for alleged violations of U.S. securities laws, claiming many cryptocurrencies are unregistered securities.

Beba and DEF argued in their lawsuit that this violated the Administrative Procedure Act (APA) as the SEC avoided the rulemaking process.

However, the SEC countered that an unwritten policy or the threat of enforcement does not constitute a rule under the APA’s definition.

The SEC added that it retains immunity from lawsuits unless it waives that right through actions like rulemaking, and Beba and DEF’s claims do not prove the SEC waived its immunity by forming a stance on crypto.

“The Commission acts through a majority vote of a quorum of its five Commissioners,” the SEC explained.

“The statement of a single Commissioner cannot represent the adoption or existence of a Commission policy, and a Commissioner’s speech is not agency action.”

Cointelegraph reached out to Beba and the DeFi Education Fund for comments but did not receive a response by publication time.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

RedStone Oracles Secures $15 Million in Series A Funding to Expand Gas-Optimized Blockchain Oracle Solutions

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RedStone Oracles has successfully completed a $15 million Series A funding round to advance its modular blockchain oracle solution, which has already garnered 100 clients.

RedStone, branding itself as the “fastest-growing modular oracle,” plans to utilize the new funds to enhance its oracle products.

These products are designed to provide gas fee-optimized price feeds for all Ethereum Virtual Machine (EVM) and rollup-as-a-service (RaaS) networks.

The funding round was led by Arrington Capital and included contributions from other prominent investment firms such as Spartan, IOSG Ventures, SevenX, Amber, HTX Ventures, and angel investors including the founders of EtherFi and Berachain.

Michael Arrington, the founder of Arrington Capital, highlighted RedStone’s infrastructure as a key reason for their investment.

He stated, “We have been impressed by RedStone’s ability to push ahead web3 infrastructure in technical achievement, go-to-market, and security.

This is a team of builders who we believe will continue to lead in the oracle space.”

Founded in 2021 during the Arweave incubation program, RedStone has seen significant progress since its mainnet launch in January 2023.

READ MORE: Fetch AI Price Prediction: Major Surge Anticipated Amid AI Crypto Merger and Market Optimism

It has acquired over 100 clients and secured $4 billion in value.

The chain-agnostic solution supports over 60 blockchains, making it an appealing choice for projects on emerging networks like zkSync Era, Linea, Mantle, and Scroll.

RedStone aims to offer lower transaction costs (gas fees) compared to other oracle solutions, aiding decentralized applications (DApps) in reducing unnecessary data and price feed-related expenses.

It achieves this by avoiding redundant gas fees associated with pushing the same data to multiple chains.

Blockchain oracles represent a swiftly growing sector within decentralized finance (DeFi).

According to CoinMarketCap data, the total market capitalization of all oracle-related cryptocurrencies was $13.1 billion as of June 3.

Chainlink leads the market with over $24.3 billion in total value secured (TVS) across nearly 400 protocols, followed by WinkLink with a $7.35 billion TVS across two protocols, as per DefiLlama data.

Currently, RedStone ranks as the sixth-largest oracle solution tracked by DefiLlama, with a $1.32 billion TVS across 38 protocols.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Trump the Felon Memecoin Investor Secures 4,100% Profit, But Waits For Another 15,000% Surge

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Trump the Felon (TRUMPFEL) is a newly launched memecoin on the Solana blockchain, and it has the potential to become a mainstream coin, like Dogecoin (DOGE) and Shiba Inu (SHIB).

An early buyer of Trump the Felon (TRUMPFEL) has generated a profit of almost 3,000%, turning a $170 investment into over $5,000.

The shrewd investor made the purchase several hours after TRUMPFEL began trading on Raydium, and he hasn’t sold any of his tokens yet, as the price of Trump the Felon is expected to rise another 15,000% from its current price.

In fact, most buyers of TRUMPFEL are deciding to hold onto their tokens and wait for further gains in the coming days and weeks, rather than realize their current profits.

TRUMPFEL will be listed on KuCoin, one of the largest centralized exchanges in the world, in July – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Trump the Felon.

In around 24 hours after launch, Trump the Felon rallied over 4,200% to reach a market cap of $1.1 million – and it is expected to soon hit a $70 million market cap.

Currently, Trump the Felon can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.

To buy TRUMPFEL on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump the Felon by entering its contract address – DspvMmTQrMCdaesTCFPf4PPGQxxRf2UPmj5b6CRUdaQf – in the receiving field.

Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.

If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.

CertiK Report: $1.19 Billion Lost to Onchain Security Breaches in First Half of 2024

///

The latest CertiK Web3 Security Report reveals that onchain security incidents resulted in $1.19 billion in losses during the first half of 2024, highlighting the urgent need for enhanced security measures.

The report indicates that phishing attacks and private key compromises were the primary causes, with phishing attacks alone causing nearly $498 million in losses.

In a written Q&A with Cointelegraph, CertiK co-founder Ronghu Gu emphasized the importance of multifactor authentication, such as two-factor authentication (2FA) and “security keys.”

He stated, “All wallets with significant funds should be interacted with using a hardware wallet or similarly secure and well-designed key management solution.”

The second quarter of 2024 witnessed the most significant security breach with the DMM Bitcoin attack, resulting in a loss of $304 million.

This incident is now among the most significant hacks in history. The Japanese crypto exchange was compromised, leading to the theft of 4,502.9 Bitcoin and prompting the platform to enhance its security measures to prevent future thefts.

Another notable incident involved the Turkish crypto exchange BtcTurk, which suffered a cyberattack targeting hot wallets and resulting in a $90 million loss.

Gu informed Cointelegraph that these breaches demonstrate that “attackers are still out there” testing the defenses of major crypto custodians.

He stressed the necessity of proactive measures and a reactive response team to handle incidents.

In response to the significant losses in the first half of 2024, the United States introduced and passed the FIT21 regulatory framework bill.

This bill aims to enhance consumer protections and support innovation in the crypto sector through a comprehensive digital asset regulatory framework.

READ MORE: Chromia Reveals 16 July As Launch Date For Its MVP Mainnet

It received bipartisan support and is expected to create a safer, better-regulated environment for digital assets in the United States.

Gu noted that the FIT21 bill “will likely attract more institutional investors and drive greater compliance efforts and requirements across the industry.”

Despite the concerning findings of CertiK’s report, Gu explained that “the trend is not pointing downward.”

Although crypto hacks caused nearly $385 million in losses in May, exploits and hacks decreased by 54.2% in June.

PeckShield data indicates that $176.2 million was lost to crypto hacks in June, showing a significant reduction from May.

Gu advised that while these losses might be a part of the industry for now, users can take “simple measures” to protect themselves, such as implementing 2FA.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Trump the Felon (TRUMPFEL) Memecoin Investor Secures 4,100% Profit, But Waits For Another 18,000% Surge

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Trump the Felon (TRUMPFEL) is a newly launched memecoin on the Solana blockchain, and it has the potential to become a mainstream coin, like Dogecoin (DOGE) and Shiba Inu (SHIB).

An early buyer of Trump the Felon (TRUMPFEL) has generated a profit of almost 3,000%, turning a $170 investment into over $5,000.

The shrewd investor made the purchase several hours after TRUMPFEL began trading on Raydium, and he hasn’t sold any of his tokens yet, as the price of Trump the Felon is expected to rise another 18,000% from its current price.

In fact, most buyers of TRUMPFEL are deciding to hold onto their tokens and wait for further gains in the coming days and weeks, rather than realize their current profits.

TRUMPFEL will be listed on KuCoin, one of the largest centralized exchanges in the world, in July – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Trump the Felon.

In around 24 hours after launch, Trump the Felon rallied over 4,200% to reach a market cap of $1.1 million – and it is expected to soon hit a $70 million market cap.

Currently, Trump the Felon can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.

To buy TRUMPFEL on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump the Felon by entering its contract address – DspvMmTQrMCdaesTCFPf4PPGQxxRf2UPmj5b6CRUdaQf – in the receiving field.

Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.

If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.

Bitdeer Secures 30-Year Lease for Ohio Mining Site, Plans Massive Power Expansion

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Bitdeer, a prominent Bitcoin mining company, has recently secured a 30-year leasing agreement with the Monroe County Port Authority for a site located at the Hannibal Industrial Park in Clarington, Ohio.

The site, formerly an aluminum factory, already possesses the essential power infrastructure necessary for Bitdeer’s mining operations, as per the company’s announcement.

Bitdeer plans to obtain up to 570 MW of additional power from this site in two phases.

The first phase aims to deliver 266 MW by Q3 2025, with the remaining 304 MW subject to approval by utility authorities.

This move underscores Bitdeer’s strategic expansion to enhance its operational capacity.

Analyst Mark Palmer previously expressed confidence in Bitdeer, highlighting the company’s industry-leading energy efficiency with an average cost of $0.04 per kilowatt hour.

This endorsement came amidst significant developments for Bitdeer, including a notable $150 million investment from stablecoin issuer Tether in May, which involved acquiring over 18 million shares with an option for an additional 5 million shares at $10 each.

Post the April 2024 halving event, concerns over miner profitability have intensified.

READ MORE: Potential U.S. Spot Solana ETFs Could Skyrocket SOL Price by Ninefold, GSR Markets Predicts

Research by Cantor Fitzgerald revealed that many Bitcoin mining firms may face challenges, with estimated mining costs ranging from $43,913 to $62,276 per BTC.

This analysis used a market price assumption of $40,000 as the threshold for profitability, a level not yet regained post-halving.

In Cantor Fitzgerald’s assessment, Argo Blockchain Mining emerged with the highest mining costs at $62,276 per Bitcoin, followed closely by Hut8 at $60,360 per coin.

The research underscores the financial pressures facing miners amidst rising energy costs and reduced block rewards, which now stand at 3.125 Bitcoin per block.

Bitdeer’s long-term lease and expansion plans in Ohio reflect its commitment to scaling operations despite industry challenges.

The move positions Bitdeer to capitalize on its efficient energy model and strategic investments, reaffirming its role as a key player in the evolving landscape of Bitcoin mining.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Binance Faces Mixed Court Ruling: SEC Lawsuit Advances Amid Dismissals

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Binance, a major cryptocurrency exchange, encountered a setback as a United States court declined to dismiss several claims brought against it by the Securities and Exchange Commission (SEC).

In a court filing on June 28, Judge Amy Berman Jackson specified that claims concerning Binance’s staking program, the initial coin offering of BNB, anti-fraud violations, and the SEC’s assertion that former CEO Changpeng “CZ” Zhao acted as a “control person” will proceed.

Additionally, the court ruled that Binance should have been registered under the Exchange Act.

However, Judge Jackson did dismiss claims related to secondary market sales of BNB and transactions involving the Binance USD (BUSD) stablecoin.

Her decision to dismiss the BNB secondary market sales claim echoed a similar ruling by Judge Analisa Torres in a previous SEC case against Ripple.

Scott Johnsson, a finance lawyer, characterized the ruling as a significant setback for the SEC, while Fox Business reporter Eleanor Terrett anticipated its implications for other cryptocurrency platforms such as Coinbase, Kraken, and Consensys.

READ MORE: Bitcoin Activity Hits Lowest Levels Since 2010 Amid Retail Investor Retreat

Judge Jackson also rejected the SEC’s claims regarding Binance’s passive income feature, “Simple Earn,” scheduling a court hearing for further proceedings on July 9.

The SEC, under the leadership of Gary Gensler, initiated legal action against Binance in June 2023, alleging that the exchange offered unregistered securities and operated unlawfully within the U.S.

Binance and CZ sought to dismiss the lawsuit approximately three months later, arguing against the SEC’s purported overreach.

Despite these legal challenges, Binance maintains its status as the world’s largest cryptocurrency exchange, boasting more than 200 million users and managing assets exceeding $100 billion.

This ongoing legal battle underscores regulatory scrutiny within the cryptocurrency industry, particularly concerning compliance with securities laws and operational licensing in various U.S. states.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

SEC Files Lawsuit Against Consensys Over Unregistered Brokerage and Crypto Securities Sales

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The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Consensys, the parent company of MetaMask, alleging violations related to unregistered brokerage and the sale of securities.

According to the complaint filed on June 28, Consensys has been operating as an unregistered broker and conducting unregistered securities offerings through its MetaMask Swaps service since 2020.

The SEC claims that Consensys has earned more than $250 million in fees from crypto asset transactions and staking services without complying with federal securities laws, thereby leaving investors without necessary protections.

The SEC seeks permanent injunctions, civil penalties, and other equitable relief against Consensys for these alleged violations.

In response to the lawsuit, Consensys has been vocal about its position, stating, “Since January 2023, Consensys has engaged in the unregistered offer and sale of securities in the form of crypto asset staking programs, and acted as an unregistered broker, through its MetaMask Staking service.

“By its conduct as an unregistered broker, Consensys has collected over $250 million in fees.”

The SEC further alleges that Consensys acted as an intermediary in unregistered transactions by facilitating investments in staking programs offered by Lido and Rocket Pool.

The complaint reads, “Consensys has offered and sold tens of thousands of securities for two issuers: Lido and Rocket Pool.

By this conduct, Consensys acts as an underwriter of those securities and participates in the key points of their distribution.”

Consensys had preemptively sued the SEC in April following a Wells notice, challenging the classification of Ether and related staking services as securities.

READ MORE: Cardano Developers Thwart DDoS Attack, Plan Node Upgrade to Enhance Security

The company criticized the SEC’s approach, accusing it of regulatory overreach and attempting to expand its jurisdiction through litigation.

The SEC’s complaint specifically targets staking programs offered by Lido and Rocket Pool, arguing that these programs constitute investment contracts and thus qualify as securities.

The SEC asserts that investors participating in these staking programs expect profits from the managerial efforts of Lido and Rocket Pool, despite neither entity filing a registration statement with the SEC.

Staking, a process where cryptocurrencies are locked to support blockchain networks, involves validators confirming transactions and earning rewards, akin to passive income.

The SEC’s scrutiny extends beyond Consensys; previously, Kraken settled with the SEC for $30 million over similar allegations, prompting the cessation of its staking services for U.S. clients.

Coinbase, another prominent entity, is also contesting the SEC’s stance on staking in ongoing legal proceedings.

In essence, the SEC’s actions underscore its regulatory stance on cryptocurrency-related activities, particularly staking services, emphasizing compliance with securities laws to protect investors’ interests.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

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