16-10-2024

Author

Fernando Fierro
October 15, 2024

Howdy folks,

🔥💸 Cardi B's Solana-based WAP token is under fire as a UAE VC firm raises suspicions of a pump-and-dump scheme. The rapper dismisses the allegations, reinforcing the token's credibility, but blockchain analysts uncover troubling evidence showing that insiders may control 60% of WAP's supply, leading to a 63% price drop within two days.

With the UAE's regulatory body seeking SEC's assistance, this incident underscores the need for caution when celebrities enter the crypto space.

In other news:

🌀💰 FTX's bankruptcy turmoil continues to unsettle Solana investors as the exchange redeems $28 million in SOL. With $1.1 billion still held, FTX's gradual liquidation strategy, ordered by the courts to repay a $16 billion debt, is designed to limit immediate market disruptions.

However, these tokens, once unlocked, pose long-term challenges for Solana's value stability as past network outages have already highlighted vulnerabilities.

💼🛡️ Coinbase is intensifying its efforts to compel the SEC to release internal documents related to its investigation of Ethereum, accusing the agency of evasive tactics. The exchange is seeking a court ruling for transparency, questioning the SEC's motives and exploring the agency's shifting narrative in response to denied Freedom of Information Act (FOIA) requests.

Coinbase has also filed a similar lawsuit against the FDIC, accusing it and the SEC of hindering the crypto industry by cutting off banking access.

BlackRock CEO Larry Fink is confident in crypto's future, no matter who wins the US election. He believes the industry's growth hinges on innovation and institutional support, not political outcomes. While Trump and Harris court the crypto vote, Fink sees transparency and analytics as key drivers.

Meanwhile, Harris’ policy targeting minority crypto investors faces criticism.

DailyCoin Daily Meme

Trump’s WLFI Website Goes Dark Hour Before Token Launch 

The platform experienced minor glitches in the lead-up to the launch of its native token.

Bloomberg’s Pro-CBDC Push Takes Heat for Ignoring Crypto

Bloomberg’s take on CBDCs sparks criticism from Nic Carter, who argues stablecoins and crypto already address cross-border challenges.

SUI Price Manipulation?! Here’s Why Insider Rumors Are Flying

The network dismissed the claims as unfounded, but skepticism within the community persists.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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