Crypto News 11 Dec 2022

Please find below today’s Crypto News 11 Dec Headlines

Crypto News 11 Dec #1 – Snoop Dogg, Justin Bieber, The Weeknd Facing Lawsuit for Promoting Bored Ape NFTs

Snoop Dogg, Justin Bieber, The Weekend, and dozens of celebrities, along with the founders of Yuga Labs, MoonPay, and ApeDAO council members, are facing a class action lawsuit for promoting Bored Ape NFTs.

Crypto News #2 – Terraform Labs Believes Becoming Independent Can Benefit The Community

LUNC News Updates Dec 10: Terra Classic Community currently votes on Proposal 11030 to separate Terraform Labs (TFL) and Terra’s co-founder Do Kwon. Terra Classic developer group Terra Rebels to focus on Rebel Station with the proposal and works on Terra Station are managed by TerraCVita, with the help of validator All nodes and TFL.

Crypto News 11 Dec #3 – 143 Million XRP Moved As Ripple’s Partner Bitso Launches New Remittance Corridor

Ripple partner Bitso launches new remittance corridor As reported by major crypto tracking service Whale Alert, roughly ten hours ago, a large transaction, carrying $55,960,040 worth of XRP was detected. 143 million XRP on the move A staggering 143,000,000 XRP was transferred between two wallets that Whale Alert tagged as “unknown”.

Crypto News #4 – Argentina Organizes National Blockchain Committee to Implement State-Level Strategy

Argentina Organizes National Blockchain Committee to Implement State-Level Strategy. The government of Argentina has designated a national blockchain committee in order to establish the directives for a state-level blockchain adoption strategy.

Crypto News 11 Dec #5 – Chipper Cash Valuation Dropped to $1.25 Billion

Chipper Cash, one of the several African fintech startups to receive funding from FTX, saw its valuation drop from $2 billion to $1.25 billion after it secured additional funding from the now-collapsed crypto exchange, a Techcrunch report has said.

Crypto News #6 – FTX Founder Sam Bankman-Fried Illegally Moved Millions During Bankruptcy

US federal prosecutors could be building a fraud case against FTX founder and former CEO Sam Bankman-Fried. Bloomberg reports Justice Department officials met with the crypto exchange’s bankruptcy team this week to discuss documents investigators aim to obtain from the company.

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Crypto News 11 Dec #7 – Crypto.Com Becomes Latest Exchange To Provide Proof Of Reserves has joined Binance in providing proof of reserves, announcing the move in a statement issued on the 9th of December on its website. The proof of reserves revealed that the exchange has more than enough crypto assets backing any customer liabilities.

Crypto News #8 – Supreme Court takes Coinbase appeal over crypto lawsuits

The Supreme Court on Friday agreed to hear an appeal by the major crypto exchange Coinbase, which is seeking to have two customer lawsuits against the company resolved by private arbitration, not by a federal court.

Crypto News 11 Dec #9 – Top U.S. Attorney Predicts 50.12% Win For Ripple Against SEC

In a YouTube video today, attorney Hogan predicted that Ripple has a 50.12% chance of winning the lawsuit against the Securities and Exchange Commission. He added that there is a 29.88% possibility that Judge Torres would rule in the SEC’s favor.

Crypto News #10 – Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported

The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception.

Crypto News 11 Dec #11 – 8.5 Trillion Shiba Inu Moved; SHIB Burn Rate Declines

SHIB is no longer the largest holding among the top 100 largest Ethereum whales, according to WhaleStats. SHIB burn down by 41%. As per the ShibBurn data, the Shiba Inu coin burn rate is down by 41% in the last 24 hours. The burn rate coin declines despite the massive transfer of SHIB among whale wallets.

Crypto News 11 Dec #12 – Crypto News Platform The Block Was Secretly Funded By FTX

Axios reported that a prominent crypto news site, The Block, was secretly funded by former CEO of FTX, Sam Bankman-Fried. Furthermore, the developing story has now led to the resignation of The Block CEO, Michael McCaffrey.

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