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EigenLayer leaders have today admitted to withholding the full truth about its massive insider allocations, specifically that they claimed a majority of its supply was not for sale (in ‘full lock’) despite wealthy insiders being allowed to cash out rewards. Back in April, EigenLayer became one of Ethereum’s largest yield-boosting protocols with $15.7 billion in assets. Fast-forward to today, and its fully diluted value has crashed 60%. EigenLayer admitted its sneaky practices in a belated transparency disclosure. Eigen Labs and Eigen Foundation posted disclosures on the treatment of investor staking rewards, which we summarize in this tweet, responding to community questions. – Eigen Labs disclosure: https://t.co/SYspTxM3Nd – Eigen Foundation disclosure: https://t.co/xPebLKNtj9… — EigenLayer (@eigenlayer) October 2, 2024 Buoyed by $100 million from Andreessen Horowitz (a16z) and tens of millions from other Silicon Valley luminaries, EigenLayer claimed it could c...

E͏the͏re͏um-based ͏t͏okens͏ ͏do͏mi͏na͏te the spac͏e, l͏e͏veraging th͏e network’s security͏ a͏nd ͏widespread͏ adoption͏. Some projects focus͏ o͏n ͏stability and r͏elia͏b͏ility, aimin͏g͏ to addr͏ess volatili͏ty co͏ncerns͏. C͏ommunity-driven ͏initiatives and c͏harita͏ble ͏ef͏forts ar͏e͏ b͏ecom͏ing c͏ommon among cryptoc͏urrency͏ projects. Cryptoc͏u͏r͏r͏ency projects͏ are increa͏singly focusing on͏ real-world uti͏lity and͏ problem-solvi͏n͏g app͏lica͏t͏ion͏s. Many͏ t͏okens explor͏e integr͏ating ͏dec͏entral͏ized finance (DeFi) and non-fungible token (NFT͏)͏ ecosyste͏ms. Env͏ir͏o͏nment͏al͏ con͏cerns ͏ar͏e ...

Maker (MKR) stands out with its role in powering the stablecoin DAI and its unique decentralized governance structure. Sui (SUI) offers a user-friendly DeFi experience with scalability and flexibility. NuggetRush (NUGX) is emerging as an exciting crypto project with unique tokenomics and Ethereum blockchain integration. Investors are constantly on the lookout for the next big thing in the ever-evolving world of cryptocurrency. As Bitcoin experiences its ups and downs, it’s only natural to seek out promising altcoins to buy that offer both innovation and potential for substantial gains. In the midst of this crypto rollercoaster, one project has been making waves, and it’s poised to shine in the face of adversity: NuggetRush (NUGX). But before we dive into the depths of this gem, let’s set the stage and explore why it’s gaining traction among the best cryptos to buy now as Bitcoin faces challenges. NuggetRush (NUGX) Why is Nu...

John Deaton points out that testimony from former SEC officials Bill Hinman and Jay Clayton during the SEC vs. Ripple Labs case would have categorized XRP as a non-security early on. Pro-XRP attorney John Deaton says that the United States Securities and Exchange Commission (SEC) erred in filing aiding and abetting allegations against Ripple’s CEO Brad Garlinghouse. Deaton highlighted that testimony from former SEC officials Bill Hinman and Jay Clayton during the SEC vs. Ripple Labs case would have categorized XRP (XRP) as a non-security early on, but the agency deliberately disregarded this information for an extended period. On X (formerly Twitter), user Digital Asset Investor.XRP said if it were his choice, he would have summoned a16z attorneys Lowell Ness and Chris Dixon as initial witnesses in the SEC vs. Ripple legal battle, along with former SEC officials Clayton and Hinman. Deaton agreed that it was essential for Hinman to provide testimony but that there was no chance to le...

The bank plans to enable users to make phone payments by integrating its e-CNY app with specialized "super SIM cards" that have near-field communication capabilities. Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to SIM cards. This payment method is designed specifically for the digital yuan, also known as the e-CNY, which is China's central bank digital currency (CBDC) currently being tested. This announcement was made by the bank on Monday in a social media post, revealing their partnership with telecommunication operators China Telecom and China Unicom and their intention to commence testing on Tuesday. The bank plans to enable users to make phone payment s by integrating its e-CNY app with specialized "super SIM cards " that have near-field communication capabilities. Users simply need to bring their mobile phones near the point of sale terminals for payment , el...

The Stargate Foundation, in agreement with FTX liquidators, has advised the DAO that issuing the STG token could put its safety at risk and may violate the automatic stay. Stargate Foundation has advised its decentralized autonomous organization (DAO) against reissuing Stargate’s native Stargate Finance (STG) token due to concerns raised by FTX liquidators. The liquidators have expressed the belief that such a move would violate the automatic stay and could result in legal repercussions. In March 2022, Alameda Research, the former cryptocurrency trading firm, purchased the entire STG auction for $25 million. However, in November of the same year, FTX declared bankruptcy, following which FTX and Alameda’s wallets were hacked for roughly $500 million. The liquidators eventually transferred all assets to new wallets. Related: Modular blockchains could be the next hot crypto market trend in 2023 In light of these events, Stargate DAO has proposed the re-issuance of the $STG token to mo...

The SEC claims the transactions involved with redistributing the funds to impacted Voyager account holders will trigger U.S. securities laws. The United States Securities Exchange Commission (SEC) won’t be allowed to fine executives involved in Voyager Digital should it end up issuing bankruptcy token s to help repay impacted customers, bankruptcy judge Michael Wiles has said. The comments from Wiles came on Mar. 6, the third day of hearings regarding a plan by Voyager to issue a repayment token and sell $1 billion of assets to Binance.US. The SEC earlier argued that the repayment token would constitute an unregistered security offering, while Binance.US is operating an unregulated securities exchange. In a supplemental objection statement, it also objected to a legal protection which stated that no U.S. agency, including the SEC, will be able to bring “any claim against any Person on account of or relating to the Restructuring Transactions.” Essentially, this means that executiv...