Ethereum Max Lawsuit Continues… [ Crypto Espresso 6.8.23 ]

It's Thursday and it's also National Karen day Karen listen I'm sorry your Name has become a punchline I'm sure You're a very nice person and you only Call for the manager when it's actually An issue so let's give all of the Karens Our heartfelt wishes and let's give all Of you other people some crypto news Because I'm your host Andrew and this is Crypto espresso your teeny tiny daily Shot of caffeinated crypto headlines and Let's just go first up coinbase has Stated that it has no plans to de-list Any assets or discontinue its staking Services despite facing allegations from The U.S Securities and Exchange Commission that at least 13 listed Cryptocurrencies are securities Chief Legal officer Paul Grewal reassured Users that coinbase will continue to Support these assets emphasizing that It's business as usual however it is Worth noting that coinbase has taken Actions in the past such as halting xrp Trading due to the sec's case against Ripple Additionally the exchange Previously removed algorand from its Sticking options during regulatory Concerns though these decisions may have Been only indirectly related to Regulatory events while coinbase aims to Maintain its current offerings Kathy Woods Arc invest has purchased roughly 21 million dollars worth of coinbase

Stock in the sell-off following the Announcement of the SEC lawsuit Meanwhile cardano developer input output Has disputed its inclusion in the sec's Case asserting that its Ada token is not A security contrary to the allegations Made by those gosh darn SEC fellas the Ethereum layer 2 Network arbitrom Experienced a temporary disruption in Its transaction processing due to a Software bug the bug-affected arbitrum Sequencer which is responsible for Batching and posting user transactions On the blockchain as a result a Significant backlog of transactions Built up causing Network stress and Interrupting processing for several Hours however the arbitrum developers Swiftly deployed a fix to address the Issue and the network is now operating Normally arbitrum foundation's Community Lead known as Eli defy confirmed on Discord that a solution had been Implemented to resolve the bug and Restore proper function anality to the Network since the fix was deployed Earlier in the day the system has been Operating as intended the incident Highlights the occasional challenges That emerging blockchain Technologies Face especially projects with various Points of centralization a judge in Los Angeles has ruled that Kim Kardashian Floyd Mayweather and other celebrities

Cannot evade claims made by investors in The now worthless ethereum Max crypto Token the investors allege that the Celebrities engaged in deceptive Promotion of the tokens during the 2021 Cryptocurrency boom U.S District Judge Michael Fitzgerald refused to dismiss California unfair competition claims Against Kardashian and Mayweather Stating that the amended complaint Adequately demonstrated that the Celebrities were profiting from Endorsements while touting an investment Opportunity without a legitimate Business plan the judge emphasized that Promoting a cryptocurrency without Disclosing payment or having a valid Basis for belief in its value is an Unscrupulous practice and potentially Unfair to Consumers Additionally the Lawsuit alleges that emacs tokens were Part of a pump and dump scheme with Insiders using Liberty endorsements to Drive up prices before selling off the Tokens while the judge acknowledged that Plaintiffs would need to demonstrate how Each celebrity's promotion significantly Affected the value of emacs he allowed The case to proceed based on the theory That celebrity endorsements distorted The market for the tokens Twitter Co-founder Jack Dorsey has sparked a Debate on the social media platform with Several crypto experts after he said yes

To a question about whether ether was a Security the remark drew the attention Of Udi wertheimer of the Taproot Wizards Project who called Dorsey a clown and Shared a five-year-old video of SEC Chair Gary Gensler saying that eth was Sufficiently decentralized and not a Security however gobar gorbach's a Security advisor to stablecoin issuer Tether and investment management firm Van Eck commented on vertimer's tweet Saying that ethereum's recent transition To proof of stake might have actually Triggered Securities laws again the Online quibble comes at a time when the SEC is filing lawsuits against crypto Exchanges for allegedly offering tokens That are unregistered Securities he it Has not been named as a security in These lawsuits but it was referred to as A security and a lawsuit filed against Crypto exchange kucoin by New York Attorney general Leticia James Dorsey Also shared a screenshot of an old since Deleted tweet by coinbase CEO Brian Armstrong in 2015 where he said that Altcoins were a distraction and that Coinbase should be focused on bitcoin Additionally Dorsey shared a year old Video of strike CEO Jack mullers where He criticized Armstrong for listing Numerous altcoins for trading and not Focusing on bitcoin and finally the UK Financial conduct Authority is

Finalizing regulations aimed at crypto Marketing to address the growing Mismatch between customers investment Decisions and risk tolerance the new Rules set to take effect on October 8th After a four-month transition period Require clear risk warnings Non-misleading advertisements and a Cooling off period for first-time Investors the cooling off period one of The significant requirements prohibits Sending consumers a direct offer Financial promotion without them first Reconfirming their request at least 24 Hours late later the FCA aims to provide Consumers with time and appropriate risk Warnings to make informed investment Choices particularly targeting novice Users who might get cold feet when it Comes to crypto Investments the Regulations come as the number of crypto Holders in the UK has more than doubled In one year reaching approximately 5 Million adults holding crypto assets the FCA survey revealed that 40 percent of Respondents purchased crypto assets as a Gamble and around 30 percent expressed Regret over their crypto Investments While the FCA aims to protect investors It also acknowledges the need to strike A balance to avoid stifling innovation In the digital coin and blockchain space And here's a balance to strike for you Like this video subscribe to our YouTube

Channel and click on that little bell Icon to get buzzed whenever a new crypto Espresso video goes live ah yes Perfectly balanced as all things should Be thoughts about today's episode drop Me a line in that comment section below Because I read those comments and Sometimes they keep me up at night Questions about our headlines or crypto In general take that plunge and ask Alex In the description below Alex is always A great resource for all things wed 3 And the metaverse and that about does it For today's episode as always I've been Your host Andrew these have been your Headlines and we'll see all of your Beautiful shining faces tomorrow