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Memecoin gained 14.3% market share in Q2 2024, highlighting significant investor interest. Simplified token design and reduced lock allocation for meme coins will foster healthier and more sustainable market conditions. In 2024, the rise of meme coins caused a notable spike in market interest and quickly became one of the most prominent trends in the cryptocurrency space. A recent report from CoinGecko revealed that meme coins led the market trend in the second quarter, accounting for 14.3% of the market share, a consistent trend since the beginning of the year. Source: CoinGecko VanEck executives recommend that crypto projects… Addressing this…
An 85-year-old disbarred Beverly Hills lawyer has been ordered to pay $14 million in restitution for his role in a $9.5 million cryptocurrency Ponzi scheme. A US judge on Monday ordered an 85-year-old disbarred California lawyer to pay $14 million in damages for his role in a $9.5 million cryptocurrency Ponzi scheme. David Kargel, a former Beverly Hills attorney, pleaded guilty in May to one count of conspiracy to commit fraud. In the Las Vegas case, U.S. District Judge Gloria Navarro sentenced Kargel to five years of probation and a heavy fine. The verdict underscores the significance of Mr. Kargel's…
Ethereum, the brainchild of Vitalik Buterin, has revolutionized the world of cryptocurrencies since its inception. As the end of 2024 approaches, Ethereum continues to be a topic of intense debate and analysis in both the crypto and traditional financial worlds. Let's take a look at the current state of Ethereum, recent developments, and market performance.Vitalik Buterin: Nobel Prize Candidate?In an unexpected turn of events, Ethereum co-founder Vitalik Buterin has been named as a candidate for the 2024 Nobel Prize in Economics. This insight was discussed in a podcast by respected economists Tyler Cowen and Alex Tabarrok, authors of Marginal Revolution.Cowen…
This case highlights a critical U.S. legal effort against fraud in the cryptocurrency market. Global arrests and indictments highlight the need for international cooperation in regulating cryptocurrencies. In a major crackdown on fraud in the cryptocurrency market, federal prosecutors in Boston have charged Gotbit, ZM Quanto, CLS Global, MyTrade and their leaders and employees with market manipulation and sham trading. This action may have been influenced by the recent CNF update on the US presidential debate in which Kamala Harris outperformed Donald Trump, although cryptocurrencies were not mentioned. The investigation resulted in arrests in multiple countries and five people pleading…
In a landmark operation, the US Federal Bureau of Investigation (FBI) has uncovered an alleged widespread cryptocurrency market manipulation scheme involving 18 individuals and four major cryptocurrency companies. The investigation into the incident led authorities to launch their own Ethereum-based token called NexFundAI. The indictment, unsealed in Boston federal court, alleges that the defendants engaged in “wash trading” and other deceptive tactics to inflate the value of various crypto tokens. Wash trading is the practice of creating artificial trading activity to mislead investors, where the same entity both buys and sells an asset, creating the illusion of high demand. The…
18 companies and individuals have been indicted related to Allegations of fraud and manipulation in the virtual currency market. The charges, unsealed in Boston, involve leaders of four crypto companies, four crypto financial services companies known as “market makers,” and employees of those companies. United States Attorney's Office for the District of Massachusettssaid on Wednesday (October 9). press release. 4 The defendant pleaded guilty, another defendant agreed to plead guilty, and three others were arrested by authorities this week.according to the release. In addition, Over $25 million in cryptocurrencies have Multiple trading bots seized According to the release, it has…
Stablecoin Standard introduces a new set of global standards, including GMO-Z.com Trust Company (“GMO Trust”), StraitsX, BiLira, and many others offering G10 currencies including JPY, SGD, TRY, USD Approved by stablecoin issuers. The standard has also been endorsed by major ecosystem participants such as Fireblocks, Solana, Bitstamp, Zodia Markets, and JST Digital. Stablecoin Standards, the industry association for stablecoin issuers from around the world, today announced that its recently announced global set of stablecoin issuer standards will help the industry's leading stablecoin issuers and ecosystem participants. announced that it was supported by some. Backed by Archblock, BiLira, Bitstamp, GMO-Z.com Trust…
Participants in Ethereum's 2014 new coin offering (ICO) reportedly unloaded more than $113 million worth of ETH in the past few weeks. Cryptocurrency tracker Lookonchain notes that the whale dumped 5,000 ETH worth $12.22 million into a Kraken deposit address on Monday, continuing a selling spree that started last month. Since September 22nd, Whale has sold a total of 45,000 ETH (worth $113.2 million). This address still holds 94,500 ETH worth $230.2 million. Source: Lookonchain/X Lookonchain notes that ICO participants received 150,000 ETH in the Genesis block at a total cost of $46,500, meaning the whale's initial average price per…
The U.S. government has indicted three crypto companies and 15 individuals on charges of market manipulation in multiple cryptocurrencies. Defendants include cryptocurrency companies Gotbit, ZM QUANT, CLS Global, and MyTrade, as well as their employees and accomplices. The FBI has allegedly created a token named NextFund AI Token to catch bad guys. The U.S. government on Wednesday took legal action against three crypto companies and 15 individuals for alleged market manipulation and fraud, including artificially inflating the price of cryptocurrencies to increase profits. US government charges Gotbit, ZM Quanto, CLS Global and founders with market manipulation charges US prosecutors have…
The Holonym Foundation has partnered with Renzo Protocol, an Ethereum liquid restaking protocol, to strengthen the security of the Mishti network and the company's digital identity solution, Human Keys. Ethereum Liquid Restaking Protocol Joins Holonym Foundation Holonym Foundation, which focuses on digital identity solutions, has announced a collaboration with Renzo Protocol. Liquid Restaking Protocol plans to restake $800 million worth of ezETH to strengthen the security of Holonym’s Mishti network. The protocol supports the secure creation of HumanKey (Holonym's digital identity solution) by Mitsushti Network using Ethereum and Eigenlayer infrastructure and node operators. The partnership will allow users to generate…