Tag: EOS

EOS Foundation urges creditors to reject $22M Block.one settlement

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Amid the approaching deadline for opting out of the current $22-million settlement with Block.one (B1), the EOS Network Foundation (ENF) has called on plaintiffs to drop the lawsuit. The ENF took to X (formerly Twitter) on Aug. 8 to encourage plaintiffs to reject the $22-million settlement from Block.one, the firm that was the original seller of EOS (EOS) in a $4-billion initial coin offering (ICO) in 2018. The ENF argued that the existing settlement “does not adequately compensate” community members for losses caused by Block.one’s “misrepresentations and bad acts.” The…

EOS Foundation to sue Block.one on failure to honor $1B commitment

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The EOS Network Foundation (ENF) is the latest entity to initiate legal action against major investor Block.one (B1) over failure to honor $1 billion investment commitments. On July 25, ESN founder and CEO Yves La Rose took to Twitter to announce that the ESN is preparing a lawsuit against B1 for “failure to follow through on its $1B commitment.” The CEO mentioned that Block.one is already working to settle another class action lawsuit for $22 million, after rejection of a proposed $27.5 million settlement with lead plaintiff Crypto Assets Opportunity.…

Bitcoin price gathers strength as SOL, AVAX, FIL and EOS prep for a breakout

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Nonfarm payrolls rose by 209,000 in June, below economists’ expectations of an addition of 240,000 jobs. Although the figures show a cooling labor market, market observers remained concerned as the average hourly earnings growth held steady at 0.4% from May and 4.4% from a year ago.  The report did not alter expectations of a 25 basis point rate hike by the United States Federal Reserve in the next meeting, according to the FedWatch Tool. That kept the U.S. equities markets under pressure, with all three major indices falling for the week.…

EOS turns 5, celebrates the community’s effort to rebuild

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Celebrating the 5th anniversary of the EOS Network, the team behind the protocol highlighted the importance of the community as it looked back on the many challenges it had to face to revive the scalability protocol.  After being launched in 2018, the EOS became known for its network’s performance and for conducting the largest initial coin offering (ICO) in history, with over $4 billion raised during the year-long fundraising process. Despite this, the project did not live up to the hype and expectations and encountered troubles with the United States…

Bitcoin reclaims $28K, and charts suggest ARB, XRP, EOS and AAVE could follow

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The United States looks to avoid a catastrophic debt default after the White House and the House Republicans agreed upon a tentative deal on May 27. The U.S. equities markets rallied in anticipation of the deal on May 26 and the positive sentiment has rubbed off onto the cryptocurrency sector, which is attempting a recovery. Buying is not limited to Bitcoin (BTC) alone as select altcoins are also showing signs of a short-term up-move. However, sustaining the rally at higher levels may prove to be difficult for the bulls. Crypto…

Blockchain Network EOS’ Participants Should Consider Legal Action Against Major Investor Block.one (B1): EOS Foundation CEO

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Whatever happened to EOS? Community shoots for unlikely comeback – Cointelegraph Magazine

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Whatever happened to EOS? After the biggest ICO in history, the former top 10 token now languishes around number 53. But the community has since taken back control and is determined to restore the smart contract platform to its former glory. If you’re a newcomer to the crypto industry, you may not even be familiar with The Biggest ICO in History, which launched EOS. EOS began in June 2018 with great fanfare, an active community and strong tech. Led by Dan Larimer, of Steemit and Bitshares fame, there was a…

EOS EVM to allow interoperability across Ethereum, EOS

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EOS EVM emulates the Ethereum Virtual Machine (EVM) and allows for the deployment of decentralized applications (DApps) written in Solidity, the programming language used by the vast majority of web3 developers. The EOS Network Foundation (ENF) has announced the beta launch of the EOS EVM Mainnet, which aims to improve interoperability between two blockchain ecosystems, Ethereum and EOS. This release is expected to enable interoperability between these networks. Launching April 14th: The next generation of EVMs is almost here. At 800+ swaps per second, $EOS EVM is BY FAR the…

EOS Network lands $60M investment and partnership from DWF Labs

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In its most substantial investment to date, DWF Labs, a digital asset market maker and investment firm, has announced an alliance with the EOS Network Foundation (ENF), entailing an investment deal worth over $60 million. EOS is a Layer-1 network for developers looking to build blockchain-based games (GameFi) and deploy decentralized applications (dApps). DWF is bolstering the EOS Network by means of a $45 million EOS token purchase agreement and a $15 million pledge to invest in businesses and projects based on EOS. This pledge is aimed at expediting the…

Bitcoin price turns $28K to support, opening the door for ETH, MATIC, HBAR and EOS to breakout

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The market witnessed a major banking crisis in March as Silicon Valley Bank and Signature Bank failed and Silvergate Bank entered liquidation as the result of dire financial distress. In Europe, the government brokered a forced takeover of Credit Suisse by UBS. Still, the United States equities markets and the European stock markets closed the month on a positive note. The cryptocurrency market was also shaken by volatility, but Bitcoin (BTC) gained about 23% in March. Going forward, the picture looks encouraging for Bitcoin bulls in April and data from…