TLDR Nader Al-Naji, creator of BitClout, faces SEC and DOJ charges for alleged wire fraud and unregistered securities sales. The SEC claims Al-Naji raised $257 million through BTCLT token sales but misused $7 million for personal expenses. Al-Naji allegedly attempted to portray BitClout as decentralized to avoid regulatory oversight. BitClout launched in 2021 and faced controversy for creating unauthorized profiles of crypto figures. If convicted of wire fraud, Al-Naji could face up to 20 years in prison. The founder of crypto social platform BitClout, Nader Al-Naji, is facing legal trouble. The U.S. Securities and Exchange Commission (SEC) and Department of…
Author: Maisie Morrison
Maisie Morrison
Maisie is an experience Crypto news journalist, having written for Blockonomi.com and is Editor in Chief at Blockfresh.com
TLDR Here are 5 new key points from the articles: California’s DMV has implemented a blockchain-based system for vehicle titles The new system digitized 42 million titles on the Avalanche network Title transfers can now be completed in minutes instead of weeks Users will be able to manage their titles through a mobile app The project aims to reduce DMV office visits and paperwork The California Department of Motor Vehicles (DMV) has launched a new blockchain-based system for managing vehicle titles. The project, developed in partnership with software firm Oxhead Alpha, has digitized 42 million car titles on the Avalanche…
TLDR DraftKings has ended its Reignmakers NFT fantasy sports experience and marketplace The decision follows a federal judge allowing a class action lawsuit to proceed Users can cash out their NFTs or transfer them to personal wallets DraftKings’ NFT platform saw $280 million in total sales since 2021 The move highlights ongoing legal uncertainty around NFTs in the sports and gaming industry DraftKings, a major player in the sports betting industry, has announced the immediate closure of its Reignmakers NFT fantasy sports experience and associated marketplace. The company made this decision in response to recent legal developments. The shutdown comes…
TLDR Ethereum price is consolidating around $3,300 after failing to break $3,400 Spot Ethereum ETFs saw positive net inflows of $33.67 million on July 30 ETH faces technical resistance at $3,330 and support at $3,230 Daily trading volume of spot Ethereum ETFs has been declining Analysts are watching key price levels to determine ETH’s next move Ethereum, the leading smart contract platform, is currently in a period of consolidation as the market adjusts to the recent launch of spot Ethereum ETFs. The price of ETH, Ethereum’s native cryptocurrency, is hovering around $3,300, struggling to break through the $3,400 resistance level.…
TLDR M2 introduces bank account integration for crypto trading in UAE Users can now buy and sell Bitcoin and Ethereum with UAE dirhams The service is regulated by the Abu Dhabi Global Market (ADGM) This move aims to simplify crypto access for UAE residents M2’s integration bridges traditional banking and digital assets The United Arab Emirates, M2 exchange has unveiled a new feature allowing residents to trade Bitcoin and Ethereum directly using their bank accounts. M2, a cryptocurrency exchange operating under the regulatory oversight of the Abu Dhabi Global Market (ADGM), has introduced a system that enables UAE residents to…
TLDR Hamster Kombat has grown to over 300 million players in less than 5 months The game plans to distribute 60% of its HMSTR tokens to players via airdrop Technical challenges have delayed the token launch on TON blockchain Hamster Kombat has 50 million daily active users across 190 countries The game’s token value will be driven by player demand, with no VC backing Hamster Kombat, a tap-to-earn game on the Telegram platform, has amassed over 300 million players since its launch in March 2024. This rapid growth has positioned the game as a major player in the crypto gaming…
TLDR A new AI wearable called “Friend” has been launched for $99 The necklace aims to provide companionship through AI interactions Created by Avi Schiffmann, known for his COVID-19 tracking website The device is always listening and responds via a smartphone app It represents a shift from productivity-focused AI wearables In a world increasingly dominated by artificial intelligence, a new player has entered the field with a unique proposition. Meet “Friend,” a $99 AI-powered necklace that’s not here to boost your productivity or replace your smartphone. Instead, it wants to be your companion. Developed by Avi Schiffmann, the tech entrepreneur…
TLDR Mt. Gox transferred over $3 billion in Bitcoin to several unknown wallets. The Bitcoin market showed resilience, with only a minor price dip following the transfer. Crypto analysts suggest most Mt. Gox creditors may hold onto their recovered Bitcoin. The transfer occurred just before a key Federal Reserve meeting on interest rates. Mt. Gox still has significant Bitcoin holdings even after this large distribution. Mt. Gox, the once-prominent Bitcoin exchange that collapsed in 2014, has made headlines again. The defunct exchange transferred over $3 billion worth of Bitcoin to several unknown wallets, marking a major step in its ongoing…
TLDR Ethereum ETFs recorded their first day of net inflows since launch Bitcoin ETFs experienced outflows, breaking a positive streak Overall crypto market faces uncertainty due to upcoming economic events Trump’s recent Bitcoin comments temporarily boosted prices ETF trading volumes for both Bitcoin and Ethereum have decreased Ethereum exchange-traded funds (ETFs) in the United States marked their first day of net inflows on Tuesday, while their Bitcoin counterparts experienced a downturn. Data from financial analytics firm SosoValue shows that the nine U.S.-listed spot Ethereum ETFs attracted $33.67 million in net inflows. This marks a significant turnaround for these relatively new…
TLDR XRP price reaches $0.64, marking a 7% increase in 24 hours SEC’s amended complaint against Binance sparks settlement speculation in Ripple case Ripple CEO and CLO criticize SEC’s approach to crypto regulation South Korean markets show significant XRP trading activity 1 billion XRP token unlock scheduled for August 1 XRP has climbed 7% in a 24-hour period to reach $0.64. This marks the token’s highest value since late March. The price surge comes amid developments in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, the company closely associated with XRP. A recent…