Crypto Market Highlights: General News
- The fifth-largest ETH whale, “BlueWhale0073,” spent $5,781,999 on 223,761,580,609 SHIB. Shiba Inu received a lot of attention following its long-awaited launch on the Robinhood trading platform. Aside from the increase in social volume, large traders purchased a significant amount of tokens, making this memecoin to be one of the most purchased assets among Ethereum whales in the last 24 hours.
- Two US law firms have sued Uniswap and its investors, including well-known venture capital firms like A16z and Paradigm, for “violating securities regulations by issuing and selling securities in the form of digital tokens.” The case, filed by Kim & Serritella LLP and Barton LLP, seeks to invite victims like Risley, who have lost money on Uniswap since last April, to join a class action against the platform’s founders and developers. It claimed that Uniswap failed to disclose “registration statements,” which included information about the risk of the linked investments for the securities sold to users.
- Louis Vuitton is moving ahead with its experimentation with non-fungible tokens (NFTs) with the introduction of PFP-inspired NFT rewards in its stand-alone mobile app game Louis: The Game. The game was first introduced in August 2021. Players enter a world where they can dress up their brand-inspired avatar named Vivienne and run around collecting postcards that teach them about the brand’s 200-year history.
- In a Saturday tweet, Vitalik Buterin stated that while he would not oppose Elon Musk owning Twitter, he does not support wealthy individuals or groups taking over social media companies through hostile bids. He argues the trend can go “extremely” wrong, giving the example of an ethically challenged foreign government. Ethereum’s co-founder further stated that while someone with a 5% stake is ultimately weak, his capacity to affect policy increases by far more than 10x if his ownership increases to 50%, meaning that this scenario can be quite concerning.
- Bitcoin is under heavy accumulation phase as whales now hold over $280,000,000,000 in BTC. According to a popular on-chain expert, Bitcoin is in the midst of a massive accumulation phase, with major entities currently holding hundreds of billions of dollars in BTC. According to William Clemente in the current edition of the Blockware Intelligence newsletter, despite BTC’s unpredictable price movement, market participants are buying and holding BTC at a historic rate.
- While the Iranian government allows licensed cryptocurrency mining, authorities cracked down on unauthorized mining last year to relieve demand on the country’s energy supply. The Iranian government plans to implement new regulations that will increase the sanctions for illegal crypto mining. According to a senior official with the country’s Power Generation, Distribution, and Transmission Company (Tavanir), the Islamic republic’s new legislation will include jailing violators and revoking business licenses.
- According to crypto-twitter member @0revenue, Beanstalk DAO has been exploited through a flash loan to the tune of $75 million. Furthermore, the perpetrator of the exploit might have orchestrated the exploit by initiating a proposal to ‘Give 250,000 Bean to Ukraine‘.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
crypto market crypto market crypto market crypto market crypto market crypto market