Author: Kent Tenix

Dolce & Gabbana’s (D&G) NFT faced backlash as customers filed a lawsuit on Thursday due to the company’s mishandled delivery. They claim that their NFTs lose 97% of market value due to their mismanagement. The Italian fashion house sold NFTs on Ethereum, ensuring “a slate of digital, physical, and experiential benefits,” according to a Bloomberg report. The D&G family promises their customers that buying D&G NFTs will open gates to various rewards, like, physical products, and exclusive events. In the lawsuit, D&G failed to keep their promise of providing NFTs and gifts on time. The NFTs arrived 20 days late…

The price of Solana at the time of writing is $145, recovering from a dip of $138. However, the trading volume increased dramatically, as the traders are impatiently waiting for upcoming US economic data releases later in the week. On March 18, Sol hit the price of $206, which is the highest in the past five months. This spike was for a short term, as Sol dropped back to $167. The recent price level put Sol on a 30% correction in the past six weeks. Now Solana is trying for new uptrends, while the indicators are flashing bullish. Last Tuesday…

The hacking incident at BlockTower Capital, and the proactive response from co-founders Ari Paul and Matthew Goetz. Explore the ongoing battle against cyber threats within the crypto world. A famous news website report stated on Wednesday that there was a hacking problem at Block Tower Capital’s main digital cryptocurrency hedge fund. The authorities have not yet found the stolen money. Blockchain investors and BlockTower Capital work together to identify the hacking technique. The precise quantity of stolen assets was not specified in the report. Ari Paul and Matthew Goetz co-founded BlockTower Capital in 2017. It bought Gamma Point Capital in…

The Seychelles-based Falcon Labs, Ltd. reached a settlement with CFTC (The Commodity Futures Trading Commission) and these labs functioned as an unlicensed FCM (future commission merchant). They made it easier to access exchanges of digital assets without proper registration. Falcon’s CFTC Settlement: Terms and Fines Falcon Labs must stop operating as an unregistered FCM. One aspect of this is giving US citizens access to digital asset derivatives trading platforms. Disgorgement of $1,179,008 is due from Falcon Labs. Also, they must pay a $589,504 civil monetary penalty. Falcon Labs’ cooperation with the CFTC’s Division of Enforcement is the reason for the…

In recent weeks, counterfeit dollar bills have been appearing more often all around North America, from Texas and Hawaii to Canada. There are reports of counterfeit currency appearing in Canada, Hawaii, and Texas, which suggests that fiat counterfeiting is on the rise. In recent weeks, counterfeit dollar bills have been appearing more often all around North America, from Texas and Hawaii to Canada. A report on May 8 disclosed that police in Brownsville, Texas, arrested a man. There were allegations against him for manufacturing fake US currency. A 45-year-old person faced charges with seven counts of forgery. The arrest followed…

An explosive growth in Shiba Inu’s weekly burn rate fulfills its commitment to reduce the token supply. In the previous week, Shiba Inu, a dog-themed token, increased its burn rate to 338%, burning millions of Shib tokens to reduce its circulation. According to Shib Burns’s recent hourly update, the burn rate of this token increased surprisingly to 338.77% in the last week, burning 200,591,910 SHIB tokens. The increase in the burning percentage is the outcome of decreased token supply from the market to enhance its long-term value position. This burning activity is a common phenomenon in the Crypto world. This…

The consulting firm Forensic Risk Alliance (FRA) will supervise the compliance efforts of Finance. There will be worldwide and thorough oversight. It denotes a strong emphasis on following regulations. Binance wants to raise the bar for compliance. The DOJ chose Forensic Risk Alliance (FRA) to supervise Binance’s compliance. The term of the appointment is three years. It seeks to guarantee Binance’s compliance with regulations and those with knowledge of the matter are the source of this information. Designating a legal firm to verify compliance was part of Binance’s November 2023 plea agreement. The plea agreement came after guilty confessions to…

The struggling cryptocurrency lender BlockFi is about to close down its online store. The company made this decision on Thursday. They are collaborating with Coinbase to reimburse customers for their money. The closure and fund distribution are set to happen within the month. According to the New Jersey-based company, eligible customers will be able to take their crypto holdings. This ability comes from their collaboration with Coinbase. This group includes clients who use BlockFi interest accounts, private client services, and retail loans. The collaboration guarantees a system for customers to access and control their crypto holdings. Qualified customers can start…

Vitalik Buterin presents EIP-7702 to make Ethereum’s smart contract wallets simpler and more organized. Vitalik Buterin of Ethereum created a new proposal called EIP-7702. This proposal aims to resolve disputes about Ethereum account functionality in upcoming updates. This plan is the second in line, following EIP-3074. The next major Ethereum release, Prague-Electra, or “Pectra,” is aimed at EIP-3074. It produced a lot of disagreements before developers chose to give it some thought. The main concern was its desire to change the functionality of Ethereum accounts. Their goal was to simplify Ethereum usage for users. Many thought it was an excellent…

The Solana’s price dropped today, falling to $150 after reaching almost $160 earlier. In spite of this, traders still believe the token could go higher soon. Solana faced selling pressure on Tuesday when it tried to break through the $160-163 zone, which used to be support but is now acting as resistance. Source: TradingView SOL’s value is still over 25% higher compared to last week. The news of lower-than-expected job numbers in the US last week made people more hopeful about the possibility of the Federal Reserve lowering interest rates this year. Recently, more investors are putting money into Bitcoin…