Twitter has threatened to sue Meta Platforms (META.O), under a trade secret cause of action, for its new Threads platform in a letter sent to Facebook parent's CEO Mark Zuckerberg by Twitter's lawyer Alex Spiro. Twitter claims that Meta hired “dozens” of ex-Twitter employees with access to Twitter’s trade secrets to develop Threads and thus … Continue reading Triple Threat in Tech: Twitter, Threads, and Trade Secrets
In a proof-of-stake system, users “stake” cryptocurrency as a form of guarantee to help secure and confirm new data blocks. With Shanghai, users can “unstake” Ethereum (ETH) in the form of partial withdrawals or full withdrawals. But, interestingly, a mass withdrawal is unlikely to occur. First, to withdraw ETH as a validator, users are required … Continue reading Starting Something New: Shanghai Upgrade & “Shapella”
A Domino Effect – Part One As of year-end 2022, crypto-focused bank Silvergate’s deposits were over $6 billion. Importantly, Silvergate led a gateway into blockchain for banking; it was willing to fill a gap between crypto and fiat. However, word that Silvergate collapsed due to a weakening in its capital position and a DOJ investigation … Continue reading Gate Closed: Silvergate’s Bank Run
The SEC’s approach—regulation by enforcement—towards regulating the uncharted crypto sphere is one of the few seemingly predictable aspects of crypto. Continuing its approach of regulation by enforcement, the SEC has charged crypto exchange Kraken for conducting an illegal unregistered securities offering through its staking-as-a-service (SaaS) program. Staking-as-a-service is essentially when a trusted staking provider lets … Continue reading The SEC is Kraken Down
Currently, crypto has become more of a wild west than ever before. With the lack of federal clarity, crypto has been much of a free-for-all, leaving investors to suffer losses due to terrorist financing, money laundering, and fraudulent actors like FTX (thanks, Sam Bankman Fraud) and Celsius. We have heard growing calls for regulation… but … Continue reading The Clock is Ticking but what Regulatory Avenue to Take?
A decentralized autonomous organization, or DAO, is a blockchain-based form of organization or company that is often governed by a native crypto token. Holders of these tokens gain the ability to vote on important matters directly related to the DAO. DAOs typically use smart contracts to coordinate the efforts and resources of many towards common … Continue reading Legal Liability for DAOs
Largely due to the FTX scandal, the crypto market is currently facing a crypto winter with unexpected lows. Recently, much focus has been on the negatives— the crypto market shrinking by $1.4 trillion, Bitcoin losing 60% of its value, and investor security unraveling to name a few. Undeniably, the FTX case of greed stands, and … Continue reading In the Wake of FTX & Into the New Year: The Ethereum Merge & The Evolution of Crypto
Police in The Bahamas have taken SBF into custody less than 24 hours before he was set to provide a digital testimony to US Congress. No more video games for Sam Bankman-Fried (SBF)—On December 12, 2022, the Office of the Attorney General of The Bahamas announced the arrest of SBF. SBF’s arrest by the Royal … Continue reading The Night Before Scheduled Congressional Hearing, SBF IS ARRESTED . . . Oh What a Time
As the weather gets colder and we approach the winter, the cryptosphere continues to be a chaotic wild west of sorts. Front and center in this week’s volatile activity has been FTX. What began with a headline announcing Binance’s plan to acquire FTX soon turned into a week-long saga of unprecedented chaos culminating with FTX, … Continue reading THE MOST GENEROUS BILLIONAIRE IN THE WORLD & A MAN OF THE PEOPLE: SAM BANKMAN-FRIED (SBF) COMMITS THE BIGGEST CRIME OF THE CENTURY💸
Breaking news in the Web3 space, the SEC is now probing crypto leader Yuga Labs over unregistered offerings, specifically the leader’s NFTs and ApeCoin, a cryptocurrency issued by ApeCoin DAO that was adopted by Yuga. At issue is whether non fungible tokens (NFTs) are investment contracts and thus securities. To determine whether NFTs are securities, … Continue reading Webs Galore in Web3: NFTs in the SEC’s Eye
on court with steph 