Day: May 16, 2023

Airdrops are great, but be aware of the risks

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Airdrops have emerged as a powerful tool for token distribution, user acquisition and community building as the blockchain industry has grown. They provide a unique opportunity for projects to distinguish themselves, incentivize desired behaviors and foster long-term relationships with their user base. But the question remains: Do airdrops work? Based on my prior research in the Journal of Corporate Finance, the answer — at least according to the data so far — is “yes.” But my new research with Kristof Lommers and Lieven Verboven highlights that their efficacy hinges on…

Court victory for Ripple as judge denies SEC motion to seal Hinman docs

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A motion from the United States securities regulator to seal the controversial Hinman documents has been denied — a move that has been seen as a win for the Ripple and crypto community. Judge Analisa Torres for the U.S. District Court ruled that the documents are “judicial documents” subject to a strong presumption of public access.  Excerpt from Judge Torres’ ruling. Source: USDC “The Hinman Speech Documents “would reasonably have the tendency to influence [the Court’s] ruling on a motion,” she added.  Judge Torres also said the court is rejecting…

SEC Can’t Seal Docs Tied to Hinman’s Ether Speech, Judge in Ripple Suit Rules

“As Judge Netburn found in her order dated January 13, 2022, the Hinman Speech Documents are not protected by the deliberative process privilege because they do not relate to an agency position, decision, or policy,” Torres wrote. “Therefore, sealing these documents would not be related to preserving ‘openness and candor’ within the agency, nor would such an interest be substantial enough to outweigh the strong presumption of public access.” Source

Over 26,000 Tokens Created – Defi Bitcoin News

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Following the recent Bitcoin Cash upgrade on Monday, data reveals that approximately 1,308 fungible tokens and 25,336 non-fungible tokens (NFTs) have emerged on the blockchain. Moreover, the Cashtokens token ecosystem is now accessible through the blockchain explorers 3xpl.com and salemkode.com, allowing users to explore its potential. Bitcoin Cash Upgrade Unleashes Token Frenzy and Infrastructure Support As of May 15, 2023, Bitcoin Cash advocates have unlocked a new realm of possibilities with the highly anticipated annual upgrade. Now, they have the power to mint and engage in transactions involving tokens built…

Bancor DAO hit with class action suit over impermanent loss protection promises

A group of investors has filed a class action suit against the Bancor decentralized autonomous organization (DAO), its operator BProtocol Foundation and its founders in the United States District Court for the Western District of Texas. The plaintiffs claim, among other things, that Bancor deceived investors about its impermanent loss protection (ILP) mechanism for liquidity providers and was an unregistered security.  According to the suit, Bancor’s v2.1 investment product, introduced in October 2020 and the second to feature ILP, operated at a deficit that the defendants were aware of and…

Bancor DAO hit with class-action suit over impermanent loss protection promises

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A group of investors has filed a class-action suit against the Bancor decentralized autonomous organization (DAO); its operator, BProtocol Foundation; and its founders in the United States District Court for the Western District of Texas. The plaintiffs claim, among other things, that Bancor deceived investors about its impermanent loss protection (ILP) mechanism for liquidity providers and was an unregistered security.  According to the suit, Bancor’s v2.1 investment product, introduced in October 2020 and the second to feature ILP, operated at a deficit that the defendants were aware of and tried…

Bitcoin enthusiasts assert moving Dutch gold would have been easier with digital assets

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied De Nederlandsche Bank (DNB) revealed that it recently completed the transportation of 15 billion euros worth of gold bars, coins, and banknotes on Dutch roads over the past four weeks. The operation involved relocating the Dutch stock of gold and banknotes from the Haarlem vault to the new Cash Center in Zeist. Bitcoin proponents pointed out that it would have been much cheaper and easier if DNB used digital assets instead. Not the first time moving…

CoinShares posts highest quarterly earnings since Q1 2022

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Cryptocurrency investment group CoinShares recently published its Q1 earnings report for 2023 amid what it’s calling a “return to profitability.”  Highlights of the report include revenue in the amount of $11.73 million (down from $22.46 million in Q1 2022), total comprehensive income of $3.62 million (down from $25.83 million in Q1 2022) and an adjusted earnings before interest, taxes, depreciation, and amortization (EBIDTA) of $10.61 million (down from $25.83 million in Q1 2022). Overall, for 2022, CoinShares posted an operating loss of $25.21 million, in stark contrast to the company’s…