Source: Farside Investors Note: The above table is generated automatically. Farside Investors is not liable for any errors or inaccuracies in the data. *ETHE & ETH seed is a conversion from a prior product. To see an alternative table with all the daily flow data,
đšBREAKING: Harris vs. Trump Neck-and-Neck in Key States! đłïž In the latest polls, KamalaHarris and #DonaldTrump are in a dead heat in crucial battleground states. The race is tied in Michigan and Pennsylvania, with Trump holding a slim 1-point lead in Wisconsin. đđȘ Meanwhile, #KamalaHarris is surging ahead with a 6-point lead in Minnesota! đđ This election is shaping up to be a nail-biter, folks! đŹđż
SEC charges BitClout/Decentralized Social founder with civil securities, wire fraud
Al-Naji is accused of orchestrating a fraudulent scheme involving the unregistered offering and sale of crypto asset securities, amassing over $257 million from investors under false pretenses.
The US Securities and Exchange Commission (SEC) has filed charges against Nader Al-Naji, the founder of the BitClout blockchain protocol, currently known as Decentralized Social (DeSo).The US Securities and Exchange Commission (SEC) has filed charges against Nader Al-Naji, the founder of the BitClout blockchain protocol, currently known as Decentralized Social (DeSo). In a parallel action, the US Attorneyâs Office for the Southern District of New York has also announced similar charges against Al-Naji.
SEC complaint The SECâs complaint, filed in the US District Court for the Southern District of New York, charges Al-Naji with violating the registration and anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.
The complaint also names Al-Najiâs wife, mother, and wholly-owned entities as relief defendants for the investor funds transferred to them.
The regulator alleges that beginning in November 2020, Al-Naji raised substantial funds through the sale of BitCloutâs native token, BTCLT. Investors were allegedly misled to believe that the proceeds would not be used for personal gain or to compensate BitClout employees.
Contrary to these assertions, the complaint states that Al-Naji diverted more than $7 million of investor funds for personal expenditures, including the rental of a Beverly Hills mansion and substantial cash gifts to his family.
Evading scrutiny In an attempt to evade regulatory scrutiny, Al-Naji purportedly portrayed BitClout as a decentralized project with âno company behind it ⊠just coins and code,â and launched the project under the pseudonym âDiamondhands.â
This strategy was intended to create the illusion of an autonomous project when in reality, Al-Naji had direct control of the network.
Furthermore, Al-Naji allegedly secured a misleading opinion letter from a prominent law firm, based on his misrepresentations about the project, asserting that BTCLT were unlikely to be classified as securities under federal law.
Despite this, he reportedly confided in select investors that his actions were aimed at avoiding legal compliance #us #
đąBOME has broken out of the descending triangle with strong volume. It is currently trading within the Ichimoku cloud, and both the 21MA and 50MA are indicating bullish momentum.
đąA breakout from the Ichimoku cloud would suggest further upward movement for BOME.
BREAKING: ïżŒ SEC amends the lawsuit against #Binance. $SOL, $ADA, $MATIC, $FIL, $ATOM, $SAND, $MANA, $ALGO, $AXS and $COTI are no longer securities. ïżŒ Another good news for Crypto community ïżŒ
Solana Eyes $200 Mark Amid Rising Momentum and Bold Predictions One of the most popular altcoins Cardano has been rather unfazed by the recent price corrections, where we saw Bitcoin drop to around $54,000. Cardano Long-Term Holders Increase â Whatâs Next? Recent data shows a rise in Cardanoâs Mean Coin Age and Mean Dollar Invested Age since late May. Currently, the Mean Coin Age is 510 days and the Mean Dollar Invested Age is 585 daysâboth at their highest points this year. These metrics reflect that investors are holding their ADA tokens for longer periods, suggesting a reduced selling pressure. Despite this stability, Cardano reached $0.77 in March and experienced a significant decline to its current price of $0.40.
Despite this downturn, on-chain data indicates that ADA holders are showing less inclination to sell. Additionally, the inflow of large holdersâaddresses holding over 0.1% of ADAâs supplyâhas surged by over 20,000% in the past three months, indicating increased buying from significant investors. While these indicators suggest long-term confidence in ADA, the short-term outlook remains bearish. The Moving Average Convergence/Divergence (MACD) indicator shows a bearish trend, with the MACD line currently below the signal line. This configuration often points to weaker short-term performance.
If the downward trend continues, ADA could potentially fall to $0.31, reaching a low not seen since October 31, 2023.
âĄïžThe U.S. government currently holds 69,000 bitcoins that once belonged to Silk Road founder Ross Ulbricht and 50,676 bitcoins from Silk Road by Zhong. #btc #btcnews #USGovernment