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first_img The nonprofit organization claims that Trump's cryptocurrency project caused investors a loss of $4.7 billion

Consumer rights organization Public Citizen released a report stating that U.S. President Trump and his family's cryptocurrency projects have resulted in investor losses of at least $4.7 billion since 2022. Most of the losses stem from the TRUMP meme coin issued by Trump, with investors losing about $3.2 billion, while buyers of World Liberty Financial's USD1 stablecoin "have not suffered significant losses."The report noted that Trump profited $7.2 million from NFT royalties, over $600 million from the sale of World Liberty tokens and equity, $635 million from meme coin royalties, and $197 million in revenue from investing in World Liberty. These figures do not include the company and project shares he continues to hold, and some data is included in the President's 2025 disclosure documents, showing his cryptocurrency-related income reached $1.4 billion.Public Citizen once again called for the inclusion of ethical provisions in the Digital Asset Market Clarification Act (CLARITY Act), requiring the U.S. President and his family to divest from industry-related projects. The bill is scheduled for a final vote on September 15 and requires support from at least 60 senators to advance. White House spokesperson Anna Kelly previously responded that Trump's cryptocurrency investments "do not present a conflict of interest."

first_img Sun Yuchen wins court support in WLFI dispute, personal claims to be publicly heard

Sun Yuchen stated that his lawyer recently appeared in federal court in California to oppose World Liberty Financial (@worldlibertyfi)'s request to force the dispute into confidential arbitration and seal documents. The court ruled that all of Sun Yuchen's personal claims will continue to be heard in open court; at the same time, it rejected the suggestion to submit all company-related claims to arbitration and required both parties to negotiate which claims will remain in court and which will go to arbitration. Sun Yuchen called this a significant victory, emphasizing that token holders have the right to know how the project treats its trusters.Sun Yuchen stated that as one of the earliest and largest investors in World Liberty, he invested $45 million to obtain $WLFI tokens. The lawsuit alleges that after this investment helped raise approximately $550 million in token sales, the project secretly embedded a backdoor in the smart contract that could unilaterally freeze, restrict, or destroy token holders' tokens, and based on this, illegally seized his tokens, even threatening him with criminal reports during his rights protection efforts. The lawsuit claims damages amounting to hundreds of millions of dollars. He has previously obtained a court injunction prohibiting the other party from destroying or disposing of his tokens.Sun Yuchen also stated that World Liberty similarly embedded backdoor capabilities in its USD1 stablecoin and mentioned that the project had pledged a large amount of $WLFI tokens as collateral in Dolomite lending, as well as public information regarding co-founder past lawsuits related to Dough Finance, expressing concerns about the project's solvency and transparency, urging investors to conduct their own due diligence and remain cautious. The above content is all his unilateral statements and accusations.

first_img Stripe's acquisition of OpenRouter for over $8 billion claims that the private model is more suited for the "singularity era," and the IPO may be delayed

According to Axios, payment giant Stripe stated in a letter to investors that January 1 marks "the beginning of a singularity," viewing it as a significant turning point in a long-term trend, and believes that maintaining a private structure is best suited for this critical moment, with the IPO likely to remain on hold. The company reported a 41% year-on-year revenue growth in the first half of the year and a 43% increase in free cash flow; 88% of the companies in Forbes AI 50 (including OpenAI and Anthropic) are building on its platform, with revenue from AI and crypto companies more than doubling year-on-year.Stripe also confirmed the acquisition of the AI routing platform OpenRouter, with the transaction amount not publicly disclosed; Axios learned that the amount exceeds $8 billion and is primarily paid in stock. Stripe stated that remaining private helps advance mergers and acquisitions and long-term investments without diluting shareholders, with its equity count now lower than three years ago, and a compound annual return of about 31% since the D round. The company stated that the total payment volume on its platform is expected to reach $1.9 trillion by 2025, a year-on-year growth of 34%; in February this year, the employee stock purchase valuation was approximately $159 billion. There are also reports that Stripe is in discussions with Advent International to acquire PayPal for about $53 billion.
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