US Securities and Exchange Commission (SEC) submitted a document to the San Francisco Federal Court on Thursday stating that Elon Musk should testify in its investigation into his $44 billion acquisition of social media giant Twitter (now called X). Last month, the SEC stated that it was investigating Musk's purchase of Twitter stock in 2022 and his statements related to the acquisition. The SEC stated that Musk refused to participate in the September interview, and in its latest filing, the agency said that it has the legal right to seek testimony and documents during its investigation.
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SEC asks Musk to testify in investigation of its $44 billion acquisition of Twitter
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Uniswap founder: Founders and VCs need to stop valuing startups and pre-coin crypto projects at more than $1 billion
Uniswap founder Hayden Adams posted on social media that cryptocurrency founders and venture capitalists need to stop valuing projects at over $1 billion in the early stages of development and before tokens have been released, until they are truly worth that valuation. Building something worth 7-9 figures is an incredible achievement, and not every project needs to be a unicorn at launch. Additionally, Hayden Adams said, perhaps it's naive, but I think raising funds as a founder at a fair valuation (real talent wants upside) and investing at a fair valuation as a VC (LPs want upside) can make more money. It's just harder to do it that way. -
Trump: The US will stop being hostile to cryptocurrencies and embrace them
According to Watcher.guru on X platform, former President Donald Trump stated that he will stop the hostility towards cryptocurrency in the United States and embrace it. -
Fed's Collins: Reaching 2% inflation may take longer than expected
The Fed's Collins stated that it may take longer than expected to reach a 2% inflation level; the policy is appropriately restrictive for risks; rates should be maintained until confidence is strengthened; the full impact of restrictive policies may not yet be seen; high uncertainty reinforces the need for the Fed to remain patient; it is necessary to slow down the US economic growth in order to put inflation on the path towards a 2% decline; there has been no sign of inflation falling back since 2024; demand is expected to eventually slow down, but there is uncertainty regarding timing. -
Messari releases Fantom Q1 report: Market value increased by 101% month-on-month, DeFi TVL increased by 59% month-on-month
Messari recently released the Fantom 2024 Q1 status report, with the following highlights: -
Chairman of the U.S. SEC: The crypto market is a hotbed of fraud, and investors are not getting the necessary information disclosure on related assets
According to CNBC, Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), stated in an interview that the SEC oversees $110 trillion in capital markets, with approximately half in the stock market and half in the bond and other markets. Cryptocurrency is only a small part of the entire market. However, it is a huge part of fraud, deception, and problems in the market, as most of the content in this field does not comply with securities law protection.The SEC cannot talk to any company, but in the field of crypto assets, without prejudging any of them, according to the US Supreme Court's interpretation, many tokens are securities under local law, so we comply with this law, and investors do not receive the necessary information disclosure about these assets. -
CFTC Chairman: Cryptocurrencies face an inevitable wave of enforcement actions
As the US Securities and Exchange Commission (SEC) continues to review participants in the cryptocurrency industry including Robinhood, Binance, Coinbase, and Ripple, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam has warned that enforcement actions are on the rise. Behnam emphasized the lack of regulatory frameworks and transparency in the constantly evolving cryptocurrency industry, which he believes will inevitably lead to more cases of fraud and manipulation. Behnam expects a "cycle of enforcement actions" in the next six months to two years, driven by the rapid appreciation of digital assets and strong interest from retail investors. In addition, Behnam believes that without proper regulation, fraud and manipulation will continue to persist. -
Vitalik Buterin proposes an alternative to EIP-3074
Wallet Connect developer Pedro Gomes posted on X platform that Vitalik Buterin proposed an alternative to EIP-3074, which moves from opcode to transaction type methods. This new method benefits from using 4337 infra PLUS to reduce the risks for core developers. Wallet Connect also includes 7377 txn types for smoother migration of EOA to smart accounts. -
US SEC Chairman: Crypto investors are not getting the proper disclosures they deserve
Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), discussed topics such as cryptocurrency during an interview with CNBC on Tuesday. Gensler stated that the SEC regulates $110 trillion in capital markets, with approximately half being in the stock market and the other half in the bond market and other markets. Cryptocurrency is only a small part of our entire market, but it is a huge part of fraud, deception, and problems in our market because most of the content in this field does not comply with our securities law. -
US Court to hear proposed remedies from Terraform Labs, Do Kwon in May
The SEC proposed that Do Kwon and Terraform pay roughly $5.3 billion in disgorgement, prejudgment interest and civil penalties, while the firm’s team suggested only $1 million.
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SEC breaks from past policy guidelines in Uniswap crackdown
The U.S. SEC Wells notice against Uniswap raises questions about consistency in policy enforcement.
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