As Durov was arrested on Saturday, August 24, 2024, at 8:00 PM local time when his plane landed at Le Bourget airport, a general aviation airport north of Paris, he could be held until Wednesday, August 28, 2024, at 8:00 PM, but bettors have their money on an extended stay. Source
Self-proclaimed “degenerate” crypto media company Superbasedd is betting a monthly print magazine can make it in 2024. Source
Importantly, these companies would likely be raising money at more realistic valuations, as they would need to demonstrate they are building genuine businesses with sustainable revenue models. In this model, the blockchain would generate revenue from the blockspace used by these products, builders would profit as the value of the tokens they own increases, venture capitalists would see returns through token unlocks, and centralized exchanges would earn from the buying and selling of tokens by users. Or, perhaps, larger companies would acquire these projects in a way that is financially…
BlackRock’s iShares Ethereum Trust (ETHA) just passed $1 billion of net inflows, making it the seventh-most-successful ETF launch this year, according to Nate Geraci, president of the ETF Store. Fidelity’s Advantage Ether ETF and the Bitwise Ethereum ETF have taken in $390 million and $312 million, respectively, according to data from Farside Investors. Source
Starting in 2020, the crypto investment platform and lender began offering Abra Earn to customers, promising high levels of returns for letting the firm use their assets, the SEC said in its complaint. At one point, the program had about $600 million, and almost $500 million was from U.S. investors. Also, for at least two years, Abra operated as an investment company without registering, the SEC said. Source
Kraken’s ill-fated motion to dismiss, filed in February, argued that the SEC had failed to state a claim – essentially, that the facts in the case, even if true, did not constitute a violation of the law – arguing that cryptocurrencies do not meet the definition of a security as defined by the Howey Test. Source
Most of the recent growth, however, came from smaller issuers, rwa.xyz data shows. Hashnote’s offering mushroomed nearly 50% to hit $218 million over the past month. Meanwhile, OpenEden’s and Superstate’s products grew 37% and 18%, respectively, during the same period, both nearing $100 million market cap. Source
Gambaryan, a former Internal Revenue Service (IRS) agent and Binance’s current head of financial crime compliance, was detained in Abuja in February, shortly after voluntarily traveling to Nigeria’s capital city at the government’s invitation. At first, Gambaryan and another Binance executive, British-Kenyan national Nadeem Anjarwalla, were held under house arrest without explanation. But when Anjarwalla escaped in March, Gambaryan was transferred to the notoriously dangerous Kuje prison, where he has spent the last five months. Source
Every single DePIN project needs an explorer that shows the number and location of their devices, their token price and trading volume, their on-chain revenue, and other important metrics. Historically, each DePIN has had to create this for themselves which involves smart contract, backend, and frontend work and can take months. This is incredibly inefficient as this piece of the stack is basically the same across every DePIN project. Luckily, Hotspotty, EV3, IoTeX, and DePIN Pulse are here to help. Source
While various projects have seen real value brought by the accelerated growth from leveraging points programs, there have been issues around unmet promises and users getting airdrops and payouts from their point programs that are much less than they were expecting, said Rumpel Labs CEO Kenton Prescott – a former developer of MakerDAO. Meanwhile, there are users out there who want to get extra exposure to these projects, but have no way of getting that, Prescott added. Source