Nick Abrol (nick7snowcrypto)

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TrustToken, TrueCoin Settle With SEC Over Fraud Accusations in Stablecoin Investing > The California companies were accused by the U.S. Securities and Exchange Commission of misrepresenting the backing of stablecoin TUSD > The U.S. Securities and Exchange Commission has settled fraud accusations with firms associated with Archblock and the TrueUSD stablecoin > The related companies were also said to offer and sell securities tied to TUSD without registering with the SEC > TrustToken and TrueCoin – now rebranded and under the umbrella of Archbock – settled accusations that they knowingly misrepresented the backing of the TrueUSD (TUSD) stablecoin and offered securities tied to it without properly registering, the U.S. Securities and Exchange Commission said in a Tuesday statement > The companies agreed to pay $163,766 each in fines, and TrueCoin will return nearly $400,000 in profits and interest, assuming a federal court approves the settlement. They've also agreed not to violate the relevant secu…

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Terra Founder Do Kwon Settled With SEC: What's Next for LUNC and LUNA? 🤨 > Terraform Labs and its founder, Do Kwon, have reached a settlement with the U.S. Securities and Exchange Commission (SEC) after facing allegations related to fraud following the collapse of the stablecoin TerraUSD. The settlement was disclosed on a court website after a jury held Kwon and Terraform Labs liable for civil fraud charges in April. This development has sparked renewed interest in Terra-linked cryptocurrencies, LUNA and LUNC, as investors speculate on the potential impact > Cryptos linked to the Terra ecosystem, such as Terra (LUNA) and Terra Luna Classic (LUNC), experienced significant overnight price movements following the announcement of the settlement. As of August 17, LUNA, the primary token of the Terra blockchain, has seen its price dip slightly, trading at $0.3121 at press time, with a 24-hour trading volume of $17,756,254. Although the token's price has declined by 1.69% in the last 24 hours and by 3.91% o…

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Terra Luna Classic Successfully Implements Major Tax2Gas Update 🔥 > LUNC gained value today after completing a significant update necessary for the long-awaited Tax2Gas feature of Terra Luna Classic. Additionally, the proposal for the v3.1.6 update received 100% support. This development is considered a crucial milestone for the community as it aims to enhance transaction efficiency and strengthen ecosystem security > The new v3.1.6 update includes critical improvements, such as a security patch for the WebAssembly Virtual Machine (wasmvm). The wasmvm version has been updated to 1.5.5, increasing the network’s resilience against potential security vulnerabilities. Furthermore, a simulation feature for transaction fees on taxable transactions was developed, optimizing transaction management across the network > The update halted the blockchain at block height 20085000, allowing validators to load the latest terrad client. The unanimous vote of 100% from the Terra community reflects the strong consen…

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