Newsletter: Crypto billionaire Justin Sun, who escaped fraud allegations after investing hundreds of millions of dollars into the Trump family’s crypto projects, is now accusing the Trumps’ project of fraud.
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Defunct crypto exchange Bittrex is trying a strategy we’ve seen (unsuccessfully) modeled by Ripple and Gemini: asking the SEC to repay past penalties now that the SEC under Trump has decided the laws they broke no longer apply to crypto.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
Also in this issue: Trump holds his second event for holders of his memecoin, the CFTC says they’re going to use AI to review registration applications, and Congress claims they’ve reached a compromise between the bank and crypto lobbies (though the banking lobby doesn’t view it that way).
Citation Needed is an independent publication, entirely supported by readers like you. Consider signing up for a free or pay-what-you-want subscription — it really helps me to keep doing this work.
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@molly0xfff Wait, how were they able to "freeze" anything?
@SnorriSturluson there is a function on the $WLFI smart contract that enables World Liberty to prevent any holder from transferring their tokens. They also subsequently added a feature that allows them to move any holder’s tokens to another wallet (or the “burn” address, meaning they could destroy the tokens — which Sun alleges they threatened to do to him)
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The DOJ and CFTC are going after a US soldier who allegedly used his access to confidential military information to profit more than $400,000 on Polymarket bets. They are not going after Polymarket, which is supposed to prohibit US bettors, and whose advisory board includes Donald Trump Jr.
“The whole world, unfortunately, has become somewhat of a casino,” said former casino tycoon and current President Trump.
“I don’t like it,” said the man whose own social media platform has announced plans to launch a crypto-based prediction market feature.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
@molly0xfff [taps the sign]
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The DOJ and CFTC are going after a US soldier who allegedly used his access to confidential military information to profit more than $400,000 on Polymarket bets. They are not going after Polymarket, which is supposed to prohibit US bettors, and whose advisory board includes Donald Trump Jr.
“The whole world, unfortunately, has become somewhat of a casino,” said former casino tycoon and current President Trump.
“I don’t like it,” said the man whose own social media platform has announced plans to launch a crypto-based prediction market feature.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
@molly0xfff 'No Way to Prevent This,' Says Politician At Fault From Only Nation Where This Regularly Happens
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R relay@relay.infosec.exchange shared this topic
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@SnorriSturluson there is a function on the $WLFI smart contract that enables World Liberty to prevent any holder from transferring their tokens. They also subsequently added a feature that allows them to move any holder’s tokens to another wallet (or the “burn” address, meaning they could destroy the tokens — which Sun alleges they threatened to do to him)
@molly0xfff ok, i.e. everything a crypto contract or coin shouldn't do, the whole idea of crypto was that nobody should be able to do that
- The question really is, are people that stupid? -
Last year, the Trump family’s World Liberty Financial project froze the $WLFI tokens belonging to crypto billionaire Justin Sun, their largest token investor, with little explanation. Now he’s suing them for contract violations and fraud, and they’re suing him for defamation.
#crypto #cryptocurrency #USpol #USpolitics #citationNeededNewsletter
@molly0xfff what a shitshow
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Sun is also attempting a delicate balancing act: accusing the Trump family’s World Liberty Financial of fraud while simultaneously maintaining he is still an “ardent” supporter of Trump and his family. His strategy is to pin the whole thing on WLF co-founder Chase Herro.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
@molly0xfff Those pesky Boyars!!!
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In short: the two sides are suing one another despite likely knowing the true nature of the deal they agreed to. Sun admits the tokens he bought are unregistered securities, World Liberty admits they’re not decentralized and Sun shouldn’t have taken their claims to be seriously.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
@molly0xfff What part of "Donald Trump" did he not understand?
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Also in this issue: Trump holds his second event for holders of his memecoin, the CFTC says they’re going to use AI to review registration applications, and Congress claims they’ve reached a compromise between the bank and crypto lobbies (though the banking lobby doesn’t view it that way).
Citation Needed is an independent publication, entirely supported by readers like you. Consider signing up for a free or pay-what-you-want subscription — it really helps me to keep doing this work.
@molly0xfff “the CFTC says they’re going to use AI to review registration applications”
Predicting most applications will have been prepared using AI
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Newsletter: Crypto billionaire Justin Sun, who escaped fraud allegations after investing hundreds of millions of dollars into the Trump family’s crypto projects, is now accusing the Trumps’ project of fraud.
Issue 105 – The new boogeyman
A crypto billionaire who escaped fraud allegations after investing hundreds of millions of dollars into the Trump family’s crypto projects is now accusing them of fraud
Citation Needed (www.citationneeded.news)
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
@molly0xfff not only did I run out of popcorn while reading your missive, I am concerned that it could cause an overheated popcorn market.
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In short: the two sides are suing one another despite likely knowing the true nature of the deal they agreed to. Sun admits the tokens he bought are unregistered securities, World Liberty admits they’re not decentralized and Sun shouldn’t have taken their claims to be seriously.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
Leopards buying FaceCoin from other leopards.
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R relay@relay.publicsquare.global shared this topic
