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- FTX Strikes $14M Deal Over $600M Robinhood Shares!
FTX Strikes $14M Deal Over $600M Robinhood Shares!
FTX has reached a $14 million settlement with Emergent Technologies to settle a dispute over $600 million worth of Robinhood shares.
Steven Walgenbach
September 10, 2024
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Breaking Crypto Stories
Here are the top stories today:
FTX Reaches $14M Settlement with Emergent Technologies Over $600M Robinhood Shares
SEC's 2024 Crypto Enforcement Actions Surpass $4.7 Billion, Fueled by Terraform Settlement
Deepfake Livestreams of Tim Cook Shill Crypto Scams During Apple's iPhone 16 Event
🤝FTX Reaches $14M Settlement with Emergent Technologies Over $600M Robinhood Shares
Bankrupt crypto exchange FTX has agreed to pay Emergent Technologies $14 million to settle a dispute over ownership of $600 million worth of Robinhood shares, a move that aims to expedite Emergent’s bankruptcy resolution and recover more funds for FTX’s creditors.
FTX will pay Emergent $14 million to cover administrative expenses related to the withdrawal of its petition for 55 million Robinhood shares and cash.
The agreement helps FTX recover more funds for creditors and avoid further litigation costs, while also expediting Emergent's bankruptcy case in Antigua.
The settlement stems from Robinhood shares acquired by Emergent in 2022, which were seized by the Justice Department after FTX’s collapse and later repurchased by Robinhood for $606 million.
💵SEC's 2024 Crypto Enforcement Actions Surpass $4.7 Billion, Fueled by Terraform Settlement
The U.S. SEC imposed nearly $4.7 billion in enforcement actions against crypto firms in 2024, largely driven by a record-breaking $4.47 billion settlement with Terraform Labs, marking a strategic shift toward fewer, high-impact cases.
The SEC's enforcement actions in 2024 amounted to $4.7 billion, a 3,018% increase from 2023, boosted by a $4.47 billion settlement with Terraform Labs and Do Kwon.
Despite taking 19 fewer enforcement actions in 2024 compared to 2023, the SEC focused on larger, more impactful fines to set industry-wide precedents.
The Terraform Labs case significantly raised the average fine in 2024, bringing it to over $420 million, a sharp rise from the $5 million to $35.2 million range in previous years.
🍎Deepfake Livestreams of Tim Cook Shill Crypto Scams During Apple's iPhone 16 Event
Scammers used deepfake videos of Apple CEO Tim Cook to promote crypto scams on YouTube during the unveiling of the iPhone 16, asking viewers to send cryptocurrency with the false promise of receiving double in return.
Deepfake videos of Tim Cook appeared on YouTube during Apple's "Glowtime" event, urging viewers to send Bitcoin, Ether, Tether, or Dogecoin to a "contribution address" in exchange for double the amount.
The scams mimicked Apple's official livestream and gathered hundreds of thousands of views, likely boosted by bots to create legitimacy, but the fraudulent videos have since been removed.
This is part of a growing trend of deepfake scams, which have also targeted figures like Elon Musk, raising concerns about the increasing use of AI-generated content for fraudulent purposes.
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Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
SUI (SUI)
Price Movements: SUI has been fluctuating in a tight range recently, closing at $0.9322 after facing resistance at the $0.9384 level. This resistance has held strong, indicating that sellers remain active, leading to a slight pullback. Despite brief upward momentum, the price has struggled to break past this level, showing consolidation. The asset has also been trading near the 9-day EMA, which signals that momentum is waning. Bulls and bears are both cautious, waiting for a decisive move in either direction.
Key Levels to Watch: On the upside, the primary resistance levels are $0.9384 and $0.954, with a long-term target at $1.0266. These levels will be critical for bulls looking to sustain any upward movement. On the downside, $0.8909 and $0.8875 are crucial support zones. A break below these supports could trigger more significant downside pressure, potentially opening the door for a deeper correction. The EMAs and RSI indicate neutral sentiment, which adds to the importance of these key levels.
Trade Strategies: For those looking to enter long positions, a breakout above $0.9384 with high trading volume could signal a bullish trend, making this level a potential entry point. Meanwhile, short sellers might target this same level for potential rejections and aim for exits around the $0.8909 support. The MACD signals weak bearish momentum, so traders should be cautious of sudden changes in trend, with stops placed near critical support and resistance levels to manage risk.
Pepe (PEPE)
Price Movements: PEPE has been trading within a narrow range, hovering near the $0.00000738 mark over the past few sessions. Despite slight fluctuations, the price remains relatively stable, with mixed signals from technical indicators suggesting both bullish and bearish pressures. The recent price action has created anticipation among traders as PEPE approaches key resistance levels, potentially signaling the next significant movement.
Key Levels to Watch: Key resistance levels for PEPE are set at $0.00000742, $0.00000754, and $0.00000767, with these points serving as critical barriers for a bullish breakout. On the downside, support levels are located at $0.00000736, $0.00000728, and a deeper support at $0.00000714. These levels provide important benchmarks for potential price reversals or continuations, with the price currently testing the $0.00000742 resistance. A breakout above this level could pave the way for further bullish momentum.
Trade Strategies: For long traders, a break above $0.00000742 presents a possible entry point, with profit-taking opportunities near the $0.00000754 and $0.00000767 resistance levels. Short traders might consider entering a position if PEPE faces rejection at the resistance or falls below the $0.00000728 support, aiming for exits around $0.00000714. With the MACD showing improving momentum and the RSI sitting in neutral territory, traders should exercise caution, managing risk carefully amid potential volatility in PEPE’s price.
Solana (SOL)
Price Movements: SOL has experienced fluctuating price action over the past few days, moving from $128.41 to $133.33. The market is currently in a consolidation phase, with price hovering near key levels that may determine the next significant move. The convergence of the 9-day and 20-day exponential moving averages (EMA) indicates indecision, as neither bulls nor bears have taken full control of the market. This suggests that SOL is at a pivotal point where a breakout or retracement could occur in the near term.
Key Levels To Watch: The critical resistance levels to monitor are at $133.83, with further resistance at $135.07 and $135.51. If SOL breaks above these levels, it could trigger further bullish momentum. On the downside, support is seen at $133.32 and $133.06, with a more substantial support level at $131.40. A failure to hold these support levels could lead to a bearish retracement, testing the lower price range.
Trade Strategies: Traders looking for long positions could consider entering on a confirmed break above $133.83, with targets at $135.07 and $135.51. Stop-losses should be placed near $133.32 to limit downside risk. For short trades, a break below $133.06 could offer an entry point, with a target of $131.40 and stops set above $133.83. The current market conditions suggest traders should remain cautious and watch for clear signals before committing to either direction.
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