Ethereum News Daily TheBitTimes.com

Art broker Sotheby's has been named in the Bored Ape investors case against NFT company Yuga Labs, which said that the new allegations are without merit and described the complaint as "opportunistic." Fine arts auction firm Sotheby’s has recently been named in the class-action lawsuit filed by Bored Ape Yacht Club (BAYC) investors against BAYC creators Yuga Labs. The investors allege that the auction house helped Yuga Labs “deceptively promote” the nonfungible token (NFT) collection.  On Dec. 10, BAYC investors filed a class-action lawsuit against over 40 defendants including Yuga Labs and celebrities like Post Malone, Justin Beiber and Paris Hilton. The lawsuit alleged that Yuga Labs and the celebrities were able to “artificially increase” the prices of the NFTs through celebrity promotions. In a new development, Sotheby’s has been named in an amendment to the lawsuit . On Sept. 10, 2021, Sotheby's auctioned 101 BAYC NFTs which generated over $24 million in sal...

The decentralized finance (defi) sector has seen rapid growth, innovation, and occasional debates. For instance, the U.S. Securities and Exchange Commission (SEC) recently sued HEX, a move that saw the token’s price plunge. Amid this, defi investors and analysts are examining InQubeta and its ongoing presale . InQubeta plans for defi InQubeta taps into the capabilities of blockchain and artificial intelligence (AI).  The project’s presale has generated significant interest due to the project’s staking model and non-fungible token (NFT) marketplace. Subsequently, the demand for QUBE has been rising in recent weeks. In the ongoing presale, QUBE is available for $0.0112 but will rise to $0.0133 in the next phase.  You might also like: On-chain data: retailers accumulating Bitcoin, Ethereum, and InQubeta The presale is in progress, and investors appear drawn by InQubeta’s reputation, technology, and marketing. With the project’s ...

Tech entrepreneur and crypto figure, Jeffrey Huang, popularly known as Machi Big Brother, has sued on -chain investigator, ZachXBT, alleging that he posted and deliberately disseminated an article that painted him as a thief engaged in market manipulation and embezzlement.  The controversial NFT trader alleges that after asking ZachXBT to remove the article and related tweet, the on-chain investigator resisted, prompting Huang to file a lawsuit. A year ago, @zachxbt published a Medium article about me that damaged my reputation. Today, I have filed a defamation lawsuit against him in the United States District Court for the Western District of Texas. — Machi Big Brother (@machibigbrother) June 16, 2023 ZachXBT accuses Machi Big Brother of embezzlement ZachXBT published the article in question a year ago, on June 16, 2022. In it, he alleged that Huang, a Taiwanese-American entrepreneur and former musician, embezzled 22,000 ETH, valued at about $37 million, from Formosa Fin...

Terraform and Do Kwon lawyers used a U.S. House hearing, Binance.US complaint and Hinman emails documents to dismiss the SEC lawsuit. The lawyers representing the United States Securities and Exchange Commission (SEC) have contended that the additional documents submitted by Dentons, the legal counsel for Terraform and Do Kwon, in support of their motion to dismiss the lawsuit , lack adequate support for dismiss ing the case. The SEC’s counsel asserts that the Binance.US transcript and internal SEC emails, presented by the defense, hold no relevance to the current case. They argue that the Howey Test clearly defines the parameters of an "investment contract" and contend that UST should be classified as a security. In a court hearing on June 15, Dentons submitted supplementary documents to bolster their motion to dismiss the lawsuit filed by the U.S. SEC. The focus of the hearing was to determine if the digital assets developed by Terraform Labs should be classified as secu...