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Today: The Truth Behind Mila Kunis' $1M Fine 🐱🏹🏦

Author

Valko
September 14, 2023

Today’s Top Stories ⌐◪-◪

  • 🐱 Stoner Cats charged $1M fine by SEC for expectation of profits

  • 🏹 Three Arrow Capital founders get 9-year trading ban in Singapore

  • 🏦 Deutsche Bank partners with Taurus to offer BTC custody services

SEC says Mila Kunis’s NFT Project' Stoner Cats’ was an unregistered securities offering

This is the second charge the SEC has brought against an NFT creator in the past month.

⌐◪-◪ → People fear all NFT projects are doomed, but that’s not the case. Stoner Cats made a rookie mistake and created an expectation of profits, breaking the Howey Test. This is securities 101 guys. The bottom line is, the SEC has officially put a stake in the ground with regards to NFT enforcement action. So don’t make stupid rookie like Mila & Ashton.

Three Arrows Founders Hit With 9-Year Trading Ban in Singapore

MAS has banned the Three Arrows Capital founders from managing, directing, or being a shareholder of any registered capital markets services firm in Singapore.

⌐◪-◪ → 9 years is a long time to be banned from the financial markets. To be honest, I wouldn’t be surprised if Zhu Su and Kyle Davies resort to crypto to circumvent their trading bans. Either way, should be interesting.

Deutsche Bank to hold crypto for institutional clients

Deutsche Bank has partnered with Taurus to provide custody services for institutional clients' cryptocurrencies and tokenized assets.

⌐◪-◪ → Another financial giant signals real interest in crypto. A lot of people are focused on price-action right now, but headlines like these are what really make a lasting impact on the minds of retail and institutional investors IMO. The tides are definitely shifting. Fun Fact: 2024 is the year of the Dragon, and the Dragon’s name is “Long”. You’re welcome.

Peripheral Vision ⌐◪-◪

⛓️ Crypto & DeFi

  • PayPal partner, Paxos, revealed as moron that paid $510k BTC tx fee

  • Sony plans on launching its own blockchain with Startale Labs

  • zkSync airdrop farmer has created 21,877 wallets to game the system

  • Vitalik doesn’t think the crypto space is being imaginative enough

  • Polygon releases proposal on 2.0 upgrade and POL token migration

  • Comsos Hub adds liquid staking module

🏦 Wallstreet

🏛️ Legal & Regulatory

  • Congressman Tom Emmer introduces bill to ban Federal CBDC

  • FTX receives court approval to liquidate $3.4B in crypto assets

  • CTFX enforcer calls DeFi exchanges an “obvious threat”

🌎 Rest of the World

  • Bybit plans to leave UK market amidst looming regulatory changes

  • Ramp integrates with Pix, payment platform used by 70% of Brazilians

  • Vitalik suspicious of how long Hong Kong’s crypto friendliness will last

  • Thailand KBank starts $100M fund targeting crypto and AI

🖼️ NFTs

  • Europe’s biggest craft beer brand plans NFT launch

  • SEC Commissioners disagree with Stoner Cats NFT enforcement

  • ApeDAO plans to buy back $12M in NFTS for exhibitions and donations

  • FriendTech pays creators $1.1M over last 24hrs, 10x NFT royalties

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