Meanwhile, the bankrupt cryptocurrency exchange FTX is increasing its stakes in its asset recovery efforts. Earlier this month, for instance, it took successful legal action against NFT Stars Limited and Kurosemi Inc., the operator of the Delysium platform. These types of lawsuits concentrate on claims that each company failed to...
Among these efforts, US Senators Elizabeth Warren and Josh Hawley have introduced the PROOF Act, a legislative initiative specifically aimed at regulating cryptocurrency exchanges. The change comes after the very collapse of FTX and is meant to keep such events from happening again. Under the legislation, crypto exchanges would have...
In this matter, FTX is suing NFT Stars and Kurosemi for failing to deliver NFTs. This bears all the hallmarks of a stopgap measure addressing a serious, underlying concern. Of course, recovering investor assets is important, especially for investors who are still suffering from the platform’s failure. We are discussing...
Bitcoin flirting with $96,000? Awesome for them, I guess. As the S&P 500 and Nasdaq continue to creep higher, help by… what, exactly? A trade deal with a mystery country? All the while consumers’ confidence is tanking and job openings are vanishing quicker than my hope for affordable housing. Something...
Bitcoin’s astonishing rise, with some analysts estimating it’ll go as high as $96,000, has set the crypto world ablaze. Token ATH! returns to help you understand what’s driving this hype machine. At the same time traditional markets are putting out counter signals, economic storm clouds are quickly building. Then, he’ll...
We're seeing Bitcoin flirting with $96,000, and while some are popping champagne, I'm seeing flashing red lights. That speedy climb is more than cause for celebration. More than that, it might be indicative of a more insidious trend — an increasing panic and distrust for the markets we know, and...
So, Nike and Starbucks are fleeing from NFTs? Good riddance. C’mon, let’s not kid ourselves, their “Web3” experiments were less real than reality TV. They weren’t constructing a community, they were creating a customer base to siphon off.Corporate NFT Exit: Good Riddance!Recall that first wave of enthusiasm when NFTs first...
Gen Z, listen up. You're not crazy. You're not alone. Are you experiencing that grim realization in your heart? It’s what you feel when you find out another corporate behemoth is trying to get into your wallets with the latest cool tech. Nike’s alleged "rug pull" with RTFKT is just...
The NFT space has witnessed a curious trend: while some mainstream brands are exiting, crypto-native companies remain deeply invested. This divergence presents some critical questions concerning the future direction of NFTs and the path forward for these two diverging camps. Why are heavy-hitter industry-leaders like Nike and Starbucks retreating? What...
The class action lawsuit against Nike over its RTFKT NFT offerings is about much more than a legal dispute. It should act as a wake-up call for the entire digital asset market. While the headlines scream "rug pull," the underlying issues point to critical flaws in how we approach NFTs...
Token ATH! is following this fast-moving story. Kinney makes the case that this is a development that might most profoundly affect the NFT universe. Photo by 360b via Shutterstock Nike is facing a lawsuit claiming it engaged in misleading practices with its NFT sales. The central question: Could this be...