Most crypto industry heavyweights have been bullish about the new decentralized social media app friend.tech, but some critics warn it’s getting too hot too qui… Source: https://cointelegraph.com/public/index.php/news/friendtech-social-media-app-how-long-will-it-last
Friend.tech, a new decentralized social media (DeSo) app has rapidly become one of the hottest new things in crypto, with over 64,000 new users and more than 24,000 ETH in trading volume since its beta version launch of Aug. 11. While many crypto industry heavyweights have praised the app for bringing thousands of people on-chain and inspiring sign-ups from even…
The platform was launched in beta version on Aug. 11 and allows users to tokenize their social network by buying and selling “shares” of their connections. Source: https://cointelegraph.com/public/index.php/news/friendtech-generates-over-1m-fees-surpassing-uniswap-bitcoin-networks
The NFT startup Recur said on Friday that its Web3 platform is winding down—unable to weather the chills of crypto winter despite hosting the IP of several big brands like Hello Kitty and Nickelodeon. Over the next several months, Recur’s platform will steadily lose its core features, the firm said in a blog post. That includes the ability for users…
Embattled cryptocurrency exchange Gemini is urging a federal judge to throw out a lawsuitfiled in January by the Securities and Exchange Commission because the federal regulator did not establish a clear case that it was selling unregistered securities. In a 15-page filing submitted on Friday, Gemini’s lawyers assailed the SEC’s argument that its interest-earning Gemini Earn program and a separate…
A federal court has upheld the Treasury Department’s authority to impose sanctions on the cryptocurrency mixer Tornado Cash, rejecting a legal challenge brought by Tornado Cash users. U.S. District Judge Robert Pitman sided with the government on all of its claims and granted summary judgment in the case, affirming that the Treasury’s Office of Foreign Assets Control’s (OFAC) is entitled…
Friend.tech, a recently released decentralized social (DeSo) network, has generated over $1 million in fees in 24 hours on Aug. 19, outperforming established players in the crypto ecosystem, including Uniswap and Bitcoin networks. The platform was launched in beta version on Aug. 11 and allows users to tokenize their social network by buying and selling “shares” of their connections. Enabling…
Illustration by Mitchell Preffer for Decrypt There was a flash crash towards the end of the working week that sent the prices of all major cryptocurrencies tumbling down. The major sell-off was no doubt linked to news that Chinese property giant Evergrande filed for Chapter 15 bankruptcy protection in a Manhattan court, causing big asset holders to dump riskier investments…
Bitcoin is giving plenty of longtime market participants reason to forecast a return to its previous cycle’s $20,000 all-time high — or worse. Source: https://cointelegraph.com/app/public/index.php/news/bitcoin-bearadise-20k-back-btc-price-target
A cryptocurrency startup is taking legal action against one of the industry’s largest exchanges after falling victim to an apparent scam. Glow Token LLC has filed a lawsuit in a Florida court against Crypto.com, alleging that the major exchange for breach of contract and owes over $250,000 in damages—even while acknowledging that Crypto.com may not have been involved in the…
