Yuga Labs ‘inappropriately induced’ BAYC investors: Class action

[ad_1] A proposed class-action lawsuit alleges that Yuga Labs “inappropriately induced” the community to buy Bored Ape Yacht Club non-fungible tokens (NFTs) and the project’s affiliated ApeCoin (APE) token.The proposed class-action driven by law firm Scott+Scott was published on July 21, claiming that Yuga Labs used celebrity promoters and endorsements to “inflate the price” of the BAYC NFTs and the APE token.It also alleges that Yuga Labs promoted the growth

Stablecoin projects need collaboration, not competition: Frax founder

[ad_1] Stablecoin projects need to take a more collaborative approach to grow each other’s liquidity and the ecosystem as a whole, says Sam Kazemian, the founder of Frax Finance.Speaking to Cointelegraph, Kazemian explained that as long as stablecoin “liquidity is growing proportionally with each other” through shared liquidity pools and collateral schemes, there won’t ever be true competition between stablecoins. Kazemian’s FRAX stablecoin is a fractional-algorithmic stablecoin with parts of

Voyager rejects Alameda buyout offer as it ‘harms customers’

[ad_1] Centralized crypto lender Voyager Digital Holdings has rejected an offer from FTX and its investment arm Alameda Ventures to buyout its digital assets on the grounds that the actions “are not value-maximizing" and potentially "harms customers." In a rejection letter filed in court on July 24 as part of its ongoing bankruptcy proceedings, Voyager’s lawyers denounced the offer made public by FTX, FTX US, and Alameda on July 22 to

The Merge is Ethereum’s chance to take over Bitcoin, researcher says

[ad_1] Ethereum researcher, Vivek Raman, is convinced that Ethereum’s (ETH) upcoming transition to a proof-of-stake system will enable it to take over Bitcoin’s (BTC) position as the most prominent cryptocurrency."Ethereum does have, just from an economic perspective and because of the effect of the supply shock, a chance to flip Bitcoin," said Raman in an exclusive interview with Cointelegraph. [embed][/embed]The Merge, a long-awaited upgrade that will complete Ethereum's transition from a

Axie Infinity is painting a giant bearish pattern — will AXS price crash another 95%?

[ad_1] Axie Infinity (AXS) has been forming a giant bearish reversal pattern since July last year, which could send its prices down by another 95% in 2022.AXS risks one big breakdownDubbed the "inverted cup and handle," the pattern is identified by its large crescent shape followed by a modest upward retracement. It typically resolves after the price breaks out of the rising channel, followed by another break below the cup-and-handle's

6 Questions for Pat Duffy of The Giving Block – Cointelegraph Magazine

[ad_1] We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Pat Duffy, co-founder of The Giving Block — a crypto donation solution that provides an ecosystem for nonprofits and charities to fundraise Bitcoin and other cryptocurrencies. Pat is co-founder of The Giving Block, and has

Bitcoin must close above $21.9K to avoid fresh BTC price crash — trader

[ad_1] Bitcoin (BTC) found strength at $22,000 into July 24 with bulls still aiming for a solid green weekly close.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewClassic levels for end-of-week price focusData from Cointelegraph Markets Pro and TradingView showed BTC/USD halting a weekend drop at $21,900 to return towards the $23,000 on the day.The pair held a trading range closely focused on key long-term trendlines, which analysts had previously described as
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Ex-Coinbase manager charged with crypto insider trading

[ad_1] Advertisment Federal prosecutors have brought a case of insider trading in digital coins to court in Manhattan for the first time. They accuse a former Coinbase Global product manager of leaking information that his brother and a friend used to buy tokens shortly before they were listed on the exchange. The arrest of Ishan Wahi on Thursday follows extensive investigations by New York prosecutors and the Securities and Exchange

Hacker drains $1.08M from Audius following passing of malicious proposal

[ad_1] Proposals in crypto help communities make consensus-based decisions. However, for decentralized music platform Auduis, the passing of a malicious governance proposal resulted in the transfer of tokens worth $5.9 million, with the hacker making away with $1 million. On July 24, a malicious proposal (Proposal #85) requesting the transfer of 18 million Audius’ in-house AUDIO tokens was approved by community voting. First pointed out on Crypto Twitter by @spreekaway, the