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Win an Apple Watch Series 9 with Bitflex and Crypto Breaking!
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New York Jury Finds Do Kwon, Terraform Labs Liable for Fraud in SEC Case NEW YORK A Manhattan jury has found Terraform Labs and its co-founder, Do Kwon, liable on civil fraud charges brought by the U.S. Securities and Exchange Commission (SEC) in connection with the $40 billion implosion of the Terra ecosystem in May 2022, according to a Friday statement from the SEC. The SEC accused Terraform Labs and Kwon of misleading investors about the stability of its so-called “algorithmic” native stablecoin, Terra USD (UST), and the use cases for the Terra blockchain. The jury delivered the verdict on Friday, just two hours after lawyers for both the SEC and the defendants gave their closing arguments at the end of the nine-day trial in New York. Jurors agreed with the SEC that Kwon and, under his direction, Terraform Labs deceived everyday investors about the nature of the supposed algorithm that kept UST pegged to the U.S. dollar. Though Kwon insinuated that it could “automatically self-heal” in the event of a de-peg, it actually relied on continuous trading activity, including large-scale trading done by institutional investors. #Write2Earn‬

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Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle Blockchain firm Ripple said it’s launching a U.S. dollar stablecoin, marking an entry into the $150 billion stablecoin market. The move will pit Ripple against stablecoin giants Tether, which is behind the largest stablecoin USDT, and Circle, the issuer of USDC. Ripple is first launching its stablecoin in the U.S., but didn’t rule out offering additional regional stablecoins in non-U.S. markets like Europe and Asia. #Write2Earn‬

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TONX Co-Founder Announces $5 Million Ecological Fund According to Foresight News, a significant announcement was made at the 'TON Hacker House' event held at JW Marriot in Hong Kong. Dr. Awesome Doge, the co-founder of TONX, declared the establishment of a $5 million ecological fund. This fund is intended to accelerate the development of TON. #Write2Earn‬

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BNB Price Rally In Jeopardy? Decoding Key Hurdles To Fresh Increase BNB price is attempting a fresh increase from the $545 zone. The price could gain bullish momentum if it clears the $585 and $590 resistance levels. BNB price started a fresh increase after it found support near the $545 zone. The price is now trading above $560 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $585 on the 4-hour chart of the BNB/USD pair (data source from Binance).The pair could attempt a fresh rally if it clears the $590 resistance zone. BNB Price Eyes Fresh Surge.After a downside correction from $620, BNB price found support near the $545 zone. A low was formed at $546.1 and the price started a fresh increase, unlike Ethereum and Bitcoin. There was a move above the $560 and $565 resistance levels. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $619 swing high to the $546 low. The price is now trading above $560 and the 100 simple moving average (4 hours). Immediate resistance is near the $585 level. There is also a key contracting triangle forming with resistance near $585 on the 4-hour chart of the BNB/USD pair. It is close to the 50% Fib retracement level of the downward move from the $619 swing high to the $546 low. Source: BNBUSD on TradingView.com The next resistance sits near the $590 level. A clear move above the $590 zone could support, the price could drop toward the $500 support. Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk. Source: NewsBTC.com

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TONX Co-Founder Announces Launch of Ecosystem Membership Card 'TONX ID' According to Foresight News, during the 'TON Hacker House' event, Dr. Awesome Doge, the co-founder of TONX, announced the launch of the ecosystem membership card 'TONX ID'. The 'TONX ID' is designed to accelerate the interaction of new users with projects on TON and will offer exclusive benefits. The total limit of these cards is set to 10,000. #Write2Earn‬

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