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...
So, FTX is suing folks. Big deal, right? Another day, another crypto drama. Frankly, this is not merely about recouping losses. It’s a reflection of something much worse, a reckoning that is long overdue. As one who can still recall a world before the internet, let me assure you, I’ve...
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...
The crypto world is exploding again. https://t.co/0639YVYMfj pic.twitter.com/6WYHsy0xi9 This time, it’s different—not just meme coins and the latest celebrity NFT drops. Now it’s FTX, reanimated from the dead (kinda), suing NFT Star and Delysium to try and regain some tokens. Is this the cynical move of a cold, calculating, bankrupt...
By all accounts, FTX is hoping to sue NFT Star and Delysium to get back millions of dollars in tokens. The cryptocurrency exchange, currently embroiled in bankruptcy proceedings, has repeatedly attempted to reclaim these assets before turning to the courts. The legal actions, reported on April 28, aim to ensure...
The aftershocks of FTX’s sudden collapse have left the entire crypto world in constant chaos. Continuing on this path, most notably is the recent tide of lawsuits, all aimed at reaping lost treasures. FTX, along with the FTX Recovery Trust, has initiated legal action against NFT Stars Limited, KUROSEMI INC.,...
Indeed, FTX — the name most closely tied with the crypto implosion — is back in the headlines. This go-around, it’s not them who’re the defendant, but the plaintiff, going after NFT Star and Delysium in hot pursuit of undelivered tokens. Are we in fact seeing a real market based...
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...