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NFT Newspaper

@nftnews

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SEC Revokes Lufkin Advisors' Registration Amid Fraudulent Crypto Activities The U.S. Securities and Exchange Commission (SEC) instituted administrative proceedings against Lufkin Advisors LLC on Wednesday. This follows an offer of settlement from Lufkin Advisors, which the SEC has accepted. The SEC found that Lufkin Advisors engaged in fraudulent activities, including the mismanagement of crypto assets, undisclosed investments with an employer related to the spouse of the firm’s principal, and improper accounting practices. The firm also failed to monitor investment values and adhere to statutory requirements, including custody of assets, report accuracy, and maintenance of adviser records. As a result, the SEC has permanently enjoined Lufkin Advisors from future violations of multiple sections of the Advisers Act and corresponding rules, and has revoked their registration.
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Nubank Partners With Lightspark to Bring Lightning Network Access to Over 100 Million Customers in Latam Nubank, Latam’s most valuable bank, has partnered with Lightspark, a cryptocurrency-focused financial services company, to bring its customers access to Lightning Network transactions. With this partnership, Nubank expects to lower costs and get more flexibility for users to take advantage of its trading platform, according to Thomaz Fortes, Executive Director for Nubank Crypto. Nubank to Include Lightning Network Functionality After Partnering With Lightspark Nubank, the digital-only neobank, is moving to include Lightning Network (LN) functionality in its platform. According to a press release issued on Tuesday, the company has partnered with Lightspark, a Bitcoin-based financial services company, to integrate part of its Lightning Network services stack to Nubank’s customers, potentially allowing more for cheap and quick onboarding for Nubank customers.
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Elmnts Emerges From Stealth With Plans to Launch Commodity Tokenization Platform Elmnts, a new blockchain-based venture, has announced the forthcoming launch of its beta platform focused on tokenizing real-world assets (RWA), starting with oil and gas mineral rights and royalties. As part of a broader plan to expand into other commodities, the Solana-based project aims to introduce efficiency and transparency to the investment process in this sector. Elmnts to Launch Solana-Based Commodity Tokenization Platform to Streamline Investment in Oil and Gas Assets According to the website, Elmnts, pronounced as “elements,” derives its inspiration from the periodic table, viewing its services as essential components of a diversified investment portfolio. Leveraging the Solana blockchain, known for its swift, cross-border transactions and minimal fees, Elmnts aims to transform how investors access and interact with commodity markets.
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