SEC Comes After Uniswap
Top Execs Leave Ripple's Metaco, Blockaid Says 1/2 Of Solana Pre-sales Are Scams
Welcome to Coinfeeds Daily Digest! The SEC has sent Uniswap a Wells notice regarding an alleged operation as an unregistered securities exchange, formally indicating a consideration for enforcement. Also, amid the SEC's active case against Ripple, top executives of Ripple-owned Metaco are leaving the company. Security firm Blockaid is saying that 50% of Solana token pre-sales are scams, NEAR is planning to hire AI engineers as part of its 3-6 month AI roadmap, and Hong Kong is likely to approve Bitcoin ETFs this month. A project with potentially the biggest launch on Ether's mainnet this year, EigenLayer, is still missing critical features like a reward system and slashing mechanism.
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Uniswap Receives Enforcement Notice from SEC
The Wells notice sent to Uniswap Labs suggests that the SEC is scrutinizing the platform's operations, particularly its facilitation of trading in various digital assets. While the exact details of the SEC's concerns are not fully disclosed, the core issue appears to revolve around whether Uniswap has been acting as an unregistered securities exchange. | Read More
Half of Solana Pre-sales Are Scams - Blockaid
According to Blockaid, a blockchain security firm, a staggering 50% of these pre-sale events have been identified as scams, exploiting the enthusiasm and sometimes the naivety of investors. Scammers have become increasingly sophisticated in their methods, often leveraging social media platforms Telegram, Twitter, and Discord to reach potential victims. | Read More
Hong Kong Set to Approve Bitcoin ETFs in April
For Chinese investors, these ETFs represent a safer, more regulated way to gain exposure to bitcoin without the risks associated with direct investment in cryptocurrencies. This could lead to a significant inflow of funds into bitcoin, especially if the yuan continues to face devaluation pressures. | Read More
EigenLayer, Crypto's Project Of The Year, Still Lacks Crucial Functionality
At the heart of the concerns is the absence of a reward system and a slashing mechanism in EigenLayer's launch. These features are not just additional components but are crucial for the security model of the blockchain project. The reward system is essential for incentivizing participants, while the slashing mechanism is a punitive feature that ensures the integrity of participants by penalizing malicious or negligent behavior. | Read More
NEAR to Hire AI Engineers as Part of User-Owned AI Roadmap
By doing so, NEAR aims to position itself at the forefront of the AI and blockchain sectors, leveraging its decentralized and not-for-profit nature to pioneer the development of open-source AI technologies. This approach not only promises to enhance the capabilities of the NEAR platform but also contributes to the broader goal of making AI technologies more accessible and user-centric. | Read More
Top Execs & Marketing People Leave Ripple-owned Metaco
Metaco, a custody firm that was acquired by Ripple last year for $250 million, has seen a significant portion of its staff leave the company. The mass exodus from Metaco comes amid Ripple's ongoing legal battles with the SEC over unregistered securities selling allegations. Among those who have left are five key executives: the Chief Technology Officer (CTO), the Chief Customer Officer, the Head of Sales, the Marketing Manager, and the Head of Product Marketing. | Read More