BTC $64,779.88 -0.17%
ETH $1,913.98 +0.09%
BNB $600.67 +1.57%
XRP $1.03 +0.39%
SOL $75.88 +2.67%
TRX $0.3294 +0.57%
DOGE $0.0699 +0.10%
ADA $0.1985 -0.79%
BCH $215.74 -0.16%
LINK $8.27 +1.35%
HYPE $54.91 +1.59%
AAVE $90.80 +1.70%
SUI $0.6889 +1.86%
XLM $0.1635 +1.11%
ZEC $511.76 +1.12%
BTC $64,779.88 -0.17%
ETH $1,913.98 +0.09%
BNB $600.67 +1.57%
XRP $1.03 +0.39%
SOL $75.88 +2.67%
TRX $0.3294 +0.57%
DOGE $0.0699 +0.10%
ADA $0.1985 -0.79%
BCH $215.74 -0.16%
LINK $8.27 +1.35%
HYPE $54.91 +1.59%
AAVE $90.80 +1.70%
SUI $0.6889 +1.86%
XLM $0.1635 +1.11%
ZEC $511.76 +1.12%

just

All
Article
Flash

The founder of the NFT project Few and Far is accused of misappropriating tens of millions of dollars in funding and has been sued by the U.S. Department of Justice

The U.S. Department of Justice (DOJ) announced that Taj Tarsha, the founder of the NFT market project Few and Far, has been charged with securities fraud and wire fraud, accused of concealing the use of funds from investors and misappropriating financing for personal consumption.According to the indictment, Tarsha raised funds from investors starting in 2022 through a SAFT (Simple Agreement for Future Tokens), claiming that the funds would be used to develop a decentralized NFT trading market and the FAR token ecosystem.Prosecutors stated that Tarsha raised over $10 million from at least 67 investors by selling approximately 95 million FAR token rights. However, shortly after the fundraising, he allegedly used investor funds for personal purposes, including online gambling, purchasing high-risk crypto assets, paying for a Miami apartment loan, interior design expenses, and personal DJ activities.The indictment documents show that Tarsha also allegedly misappropriated nearly $1 million in company funds through two bonuses that were not disclosed to investors and co-founders, as well as through high salaries. After an audit revealed anomalies in the related funds, Tarsha was accused of providing false explanations to investors, claiming that the use of funds was in line with project development needs.

hot_img Counterpoint: If the United States bans imports of Chinese optical modules, it will backfire on domestic cloud vendors rather than just Chinese suppliers

According to Counterpoint Research analysis, if the proposed import ban on Chinese optical modules by the Federal Communications Commission (FCC) in the United States is implemented, it will primarily impact American cloud providers rather than Chinese suppliers. InnoLight leads the global data center optical module revenue with approximately 27% market share, while Coherent ranks second with about 17%. Chinese manufacturers collectively account for about two-thirds of the global unit supply and approximately 60% of the optical communication module revenue.The analysis points out that Western suppliers like Coherent and Lumentum lack sufficient cleanroom capacity, automated packaging infrastructure, and yield scale in the short term, making it impossible to fill the capacity gap left by Chinese manufacturers within 12-24 months. This could lead to delays in AI cluster deployments by several quarters and increase material costs for cloud providers. At the same time, Chinese module manufacturers rely on high-end 800G/1.6T module revenue from North American hyperscale customers for over 90%, but have achieved partial capacity relocation by establishing factories in Thailand.Counterpoint emphasizes that the optical module supply chain is a highly interdependent system. Chinese manufacturers heavily procure DSP chips from Broadcom and Marvell, as well as lasers and optical chips from Lumentum, Coherent, and Mitsubishi Electric. A forced separation would disrupt the entire ecosystem.
app_icon
ChainCatcher Building the Web3 world with innovations.