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US court denies emergency motion issued by Apple in legal case against Epic Games
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US court denies emergency motion issued by Apple in legal case against Epic Games

by admin June 7, 2025


A US court had denied Apple’s emergency motion to pause an injunction that prohibits the company from collecting fees on purchases made on alternative app stores.

Apple is currently in the process of appealing a court order issued last month, as part of its longstanding legal battle with Epic Games over “anticompetitive” commissions and not allowing developers to use alternative payment options.

As reported by CNBC, the US Court of Appeals for the Ninth Circuit ruled that Apple “bears the burden of showing that the circumstances justify an excuse of [its] discretion.”

It found that “after reviewing the relevant factors, [it] was not persuaded that a stay is appropriate.”

In response to the decision, Apple said it would continue to fight its case during the appeals process.

“As we’ve said before, we strongly disagree with the district court’s opinion,” a spokesperson said. “Our goal is to ensure the App Store remains an incredible opportunity for developers and a safe and trusted experience for our users.”

On June 2, the European Commission ordered Apple to comply with its Digital Markets Act (DMA), giving the company less than 30 days to update its App Store and enable developers to provide different methods of payment for apps.



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June 7, 2025 0 comments
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TRUMP Crypto Wallet Could Face Legal Challenges

by admin June 5, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Amid the controversial announcement of an “official” TRUMP crypto wallet, the Trump family is allegedly considering taking legal action against the project for using the likeness of the US President.

Trump Family Denies Crypto Wallet Involvement

On Tuesday, the crypto community was taken by storm after the announcement of an upcoming “official” Trump crypto wallet by non-fungible Token (NFT) marketplace Magic Eden in partnership with the team behind the president’s official memecoin, TRUMP.

According to the official website, the wallet will be “the first and only crypto wallet for true Trump fans,” supporting the trade of the TRUMP token and other digital assets, including Bitcoin (BTC). Users who join the wallet’s waitlist will reportedly have an opportunity to share $1 million worth of the memecoin’s rewards.

TRUMP Wallet annoucement. Source: Magic Eden on X

Magic Eden’s CEO, Jack Lu, confirmed the news, affirming that with the project, “DeFi can finally support seamless UX and regulatory clarity is finally allowing crypto to thrive in the US. The time to take big bets & onboard mainstream is now.”

Nonetheless, the Trump family distanced itself from the wallet, with the President’s sons taking to social media to clarify the family’s involvement. Eric Trump said in a post that he knows “nothing about this project,” despite running The Trump Organization.

He affirmed that the Magic Eden crypto wallet “is not authorized” by the Trump Family, warning their team to be “extremely careful” using the Trump name in an unauthorized project that is unknown to their organization.

Meanwhile, Donald Trump Jr also denied any involvement with the wallet and announced that World Liberty Financial (WLFI) is working on launching an official wallet soon.

The New York Times reported that Eric Trump “escalated the dispute,” affirming that the Trump family would “legally challenge the creation” of the unofficial wallet in a series of texts to the news media outlet.

“There is no deal for this product,” he stated, reaffirming that “There is no agreement for this product. It has not been approved.” Since then, the “TrumpWalletApp” X account has been suspended, despite reportedly having a Magic Eden verification badge.

A ‘Bizarre’ Miscommunication?

Journalist and podcast host Eleanor Terret shared a response from Magic Eden’s team regarding the claims of being the “official” wallet.

In the Tuesday statement, the NFT marketplace affirmed that “It is the official $TRUMP Wallet carrying the official Trump branding and IP. Magic Eden has historically worked with the $TRUMP project to support their prior NFT launches and are excited that we’re working on a much larger project now with $TRUMP Wallet.”

Molly White, who first reported the story, called the announcement an “absolute chaos,” noting that “Trump memecoin team is Fight Fight Fight LLC (Bill Zanker), though the Trump Organization-affiliated CIC Digital also holds a substantial quantity of tokens.”

To White, “It seems like the breakdown is between the Zanker team and the Trump sons, but pretty incredible they claim never to have even heard of it.” Similarly, Ripple’s CTO, David Schwartz, called the incident “a very bizarre situation,” suggesting that the most likely explanation is a miscommunication or misunderstanding.

He theorized that the TRUMP token team possibly didn’t need approval from or to inform CIC Digital or The Trump organization to launch the project, which could explain the Trump family’s remarks about the wallet:

Depending on the deal The Trump Organization negotiated here, Fight Fight Fight LLC might be trying to use its connection to $TRUMP (which it seems to have bought for 80% of the supply) to connect Trump to other projects (like this wallet) which only benefit Trump through possible appreciation of $TRUMP. Fight Fight Fight LLC is heavily incentivized to monetize these products other ways since Trump owns 80% of $TRUMP.

Schwartz concluded that, “If this is correct, The Trump Organization may be very unhappy with this announcement — especially if they planned to launch their own wallet.”

TRUMP trades at $11.09 in the one-week chart. Source: TRUMPUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 5, 2025 0 comments
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Jacob Diaz in MindsEye
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MindsEye is set to launch next week, so it’s probably not great that the studio’s chief financial officer and chief legal officer have both resigned

by admin June 3, 2025



The pre-release saga of MindsEye, the debut game from former Rockstar Games stalwart Leslie Benzies and his Build a Rocket Boy studio, has taken another strange twist. As noticed today by Eurogamer, Build a Rocket Boy’s chief financial officer and chief legal officer have both left the company, just a week ahead of MindsEye’s release.

Former chief legal officer Riley Graebner, who joined Build a Rocket Boy in 2022 and also served as chief operating officer until April 2024, announced his departure from the studio in a message posted to LinkedIn.

“After three and a half years my time at BARB has come to a close,” Graebner wrote. “I’m proud of what we’ve accomplished. During that time we more than doubled the size of the company to over 450 employees. We launched multiple products worldwide. We built the legal team and legal ops infrastructure from the ground up, working to systemize and automate.


You may like

“I’m beyond excited for what’s next—but currently operating in stealth mode for a while longer. Stay tuned.”

CFO Paul Bland didn’t make any sort of public declaration about leaving BARB, but updated his LinkedIn profile to indicate that he’d parted ways with the company in June. Somewhat oddly, he seems to have subsequently changed his LinkedIn page: The Paul Bland page on the site (which I successfully visited earlier today) is gone, but the account itself remains available, at a different URL, under the name Paul B. I have no idea what to make of that, but it’s weird.

The whole thing is weird, really. Executives come and go, it’s true, but losing two C-suiters, effectively at the same time, and literally a week before the launch of the big thing you’ve been working on for years—well, it’s not a very good look, is it?

There’s no indication that anything untoward is going on behind the scenes, but even so their departures have caused an understandable ripple amongst some of the MindsEye community. As one person put it in the MindsEye Discord, “Two major players inside the company just resigned. That’s concerning!” I’m inclined to agree.

Keep up to date with the most important stories and the best deals, as picked by the PC Gamer team.

Similar sentiments can be seen on the MindsEye subreddit, where people are already somewhat less than enthusiastic about the game due primarily to a relative dearth of information about it. Back when the metaverse was still a thing, MindsEye was billed as an experience taking place within the Everywhere platform, which has been kicking around—equally ill-explained—since 2016. But I know even less about Everywhere than I do about MindsEye at this point, and it seems to have fallen off the radar: The Everywhere website, for instance, now redirects to a MindsEye site—which is just a trailer and purchase links.

“They’ve done such an incredibly poor job explaining this game I still have no clue what it even is,” redditor Greatnes wrote. “It’s just buzzwords and features with nothing linking them or explaining them. I’ve never had this issue with a game before with not even knowing what it is. Game is out in 13 days and they don’t seem interested in actually showing it off beyond carefully scripted gameplay trailers that don’t explain anything.”

(MindsEye is, for the record, “a narrative driven, single-player action-adventure thriller” with an estimated 15-hour campaign—it looks a bit like GTA, but don’t expect anything on that scale.)

The departures of Build a Rocket Boy’s CFO and CLO come less than a week after the company’s co-CEO Mark Gerhard caused a stir by claiming publicly that the negative reactions to MindsEye were part of a “concerted effort to trash the game and the studio” ahead of its release, being financed by an unnamed entity. That was not great either, and also very weird.

MindsEye is set to launch on June 10. I’ve reached out to Build a Rocket Boy for comment and will update if I receive a reply.



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June 3, 2025 0 comments
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SEC Raises Legal Questions Over Proposed Ethereum, Solana ETFs

by admin June 2, 2025



In brief

  • The SEC raised concerns about whether the REX-Osprey ETH and SOL ETFs qualify under the Investment Company Act of 1940.
  • Despite ongoing discussions, the ETFs’ registration became effective on May 30 without resolving the issues.
  • The letter came a day after SEC staff issued guidance exempting certain staking practices from securities rules.

The U.S. Securities and Exchange Commission on Friday warned that two proposed exchange-traded funds tied to Ethereum and Solana may not meet the legal definition of an investment company, raising concerns over their registration and potential eligibility for exchange listing.

In a letter to counsel for ETF Opportunities Trust, the SEC said staff had unresolved questions about whether the REX-Osprey ETH and SOL ETFs, which include staking components, are structured to primarily invest in securities as required under the Investment Company Act of 1940.

ETF Opportunities Trust is a Delaware-based open-end investment company that serves as a legal vehicle, or issuer, for launching multiple exchange-traded funds, including those managed by REX.



Sponsors REX Shares and Osprey Funds filed a registration statement for their proposed Ethereum and Solana ETFs on January 21.

The filing also included several other crypto-linked products, including the first proposed ETFs for the TRUMP meme coin, BONK, and Dogecoin, as well as additional funds tracking Bitcoin and XRP.

While the registration statement for the REX-Osprey Ethereum and Solana ETFs became effective on May 30, the funds have not launched and are not listed on any exchange.

“As we have communicated to you on several occasions, Commission staff continues to have unresolved questions whether the Funds, if structured and operated as proposed, would be able to meet the definition of ‘investment company’ under the Investment Company Act,” SEC staff wrote.

A fund qualifies as an investment company under U.S. law if it is primarily engaged in investing or trading securities, or if investment securities make up more than 40% of its total assets.

The agency also said the ETFs may have improperly filed under Form N-1A, which is reserved for funds that qualify as investment companies under federal law, and may also fall short of the conditions of Rule 6c-11, which allows ETFs to operate and list without seeking individual exemptive relief.

“To the extent that these concerns remain unresolved, the Commission staff will consider the appropriate next steps to ensure compliance with the federal securities laws,” SEC staff wrote.

The letter follows staff guidance issued Thursday clarifying that certain types of crypto staking, such as self-staking and custodial staking, do not involve the offer or sale of securities under federal law.

The guidance, which is not legally binding, marked a shift from earlier enforcement stances and drew a dissent from Commissioner Caroline Crenshaw, who said the move “continues to sow uncertainty around what the law is.”

The SEC did not immediately respond to a request for comment.

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June 2, 2025 0 comments
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ZachXBT flags legal gaps after teen’s $37m crypto theft
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ZachXBT flags legal gaps after teen’s $37m crypto theft

by admin June 1, 2025



Crypto sleuth ZachXBT has called for stricter penalties against SIM swapping and social engineering fraudsters.

He highlighted the case of a Canadian teenager who allegedly carried out a $37 million cryptocurrency theft. ZachXBT’s comments followed an X user’s suggestion that “wallet draining should be the death penalty.”

The post received a reply from the crypto sleuth on the gaps in current legal frameworks, especially regarding juvenile offenders.

ZachXBT shares $37m Canadian case

The investigator specifically referenced Cameron Redman, who allegedly conducted a massive SIM swap attack in 2020 at age 17.

The hacker targeted a victim for approximately 60,000 Bitcoin Cash (BCH) and 1,547 Bitcoin (BTC) worth $37 million at the time.

Cameron Redman helped SIM swap $37M in 2020 when he was 17 from Canada

Not a single mention of his full name or photo on the internet until I posted it after he got involved with phishing / X ATOs

Zero reason his name should’ve been protected or hidden https://t.co/F5uoQsD4rK

— ZachXBT (@zachxbt) June 1, 2025

According to ZachXBT’s research, the February 22, 2020 attack against victim Josh Jones involved complicated money laundering techniques. The stolen Bitcoin Cash was moved through hundreds of small transactions to centralized exchanges. However, most Bitcoin was funneled through mixing services, including Chip Mixer and Crypto Mixer.

ZachXBT criticized the legal protections afforded to minors in high-value cybercrime cases. He noted that “laws in Canada and EU are super relaxed, so threat actors can get away with a lot.”

The sleuth expressed particular frustration with name suppression policies for juvenile offenders and stated he publishes full names “regardless of age” when investigating crypto crimes.

Hamilton Police in Ontario formally charged Redman in November 2021 following collaboration with the FBI and U.S. Secret Service. Authorities recovered $5.4 million of cryptocurrency during the investigation, though $31.5 million remains unaccounted for.

The case resurfaced when ZachXBT identified Redman’s alleged involvement in recent phishing attacks and X account takeovers targeting NFT projects. Given the scale of the financial crimes, the investigator noted there was “zero reason his name should’ve been protected or hidden.”





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June 1, 2025 0 comments
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Thailand Lets Tourists Spend Crypto, Plans Legal Reforms
Crypto Trends

Thailand Lets Tourists Spend Crypto, Plans Legal Reforms

by admin May 27, 2025



Thailand is preparing to let tourists spend cryptocurrency via credit card-linked platforms as part of a broader strategy to modernize its financial system and embrace digital assets.

The plan was announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira during an investment seminar in Bangkok on May 26, according to reports from Bangkok Post and The Nation.

The initiative, currently under review by the Ministry of Finance and the Bank of Thailand, will enable tourists to link their crypto holdings to credit cards for local purchases.

Merchants will receive Thai baht as usual, often without knowing crypto was used in the transaction. The pilot is expected to roll out after key infrastructure and regulatory checks are in place.

“This approach can be immediately adapted for Thailand, provided the supporting systems are in place,” said Pichai, noting that the model avoids using the Thai baht directly, reducing risks to the domestic currency.

Related: Crypto exchange KuCoin enters crowded Thailand market

Capital markets regulation under review

Beyond enabling crypto use for tourism, Thailand is also planning a reform of its financial laws. Pichai said the government needs to unify the legal treatment of the traditional capital market and the digital asset space, which are currently governed by separate acts.

Pichai also said the government is reviewing outdated restrictions on institutional investors as part of broader capital market reform. Life insurers and large funds holding hundreds of billions of Thai baht are restricted to government bonds. Upcoming changes may open more funds to equities and private sector assets.

Pichai announcing the postponement of the next phase of digital wallets handout. Source: Khaosod English

The Ministry of Finance is reportedly also looking to reform rules around treasury stocks and ensure fairer market operations by regulating high-frequency trading practices.

A draft law is in the works to expand the Thai Securities and Exchange Commission’s enforcement powers, potentially allowing it to bring major cases directly to prosecutors.

Related: Thailand targets foreign crypto P2P services in new anti-crime laws

Pichai expresses support for digital assets

Pichai reiterated support for digital assets, emphasizing the need for clear rules that enable innovation without risking financial stability.

He mentioned the rollout of “G-Tokens,” a blockchain-based initiative aiming to allow retail investors to buy government bonds in fractional units. These tokens, he said, are expected to improve returns for savers and raise the global profile of Thai sovereign debt.

On May 13, the Ministry of Finance announced plans to issue $150 million worth of digital investment tokens that allow retail investors to buy government bonds.

This came after the country’s securities regulator revealed plans to launch a tokenized securities trading system for institutional investors back in February.

In March, the Thai SEC also approved Tether’s USDt (USDT) and Circle’s USDC (USDC) for cryptocurrency trades, allowing the stablecoins to be listed on regulated exchanges across the country.

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story



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May 27, 2025 0 comments
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Best Crypto to Buy as Phishing Scams and Exploits Threaten Web3
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Best Crypto to Buy as Investors Face Kidnapping, Phishing, and Legal Loopholes

by admin May 25, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The crypto space has a flair for the dramatic – and scandals are still its favorite subplot.

One day it’s phishing scams turning up in your mailbox like cursed invitations. The next, someone’s being kidnapped over their seed phrase.

And just when you think it can’t get any weirder, a multi-million dollar exploiter walks out of court with a smile and zero jail time. It’s the kind of chaos that gives regulators ulcers and honest investors heartburn.

But here’s the twist: while bad actors steal headlines, a new wave of new crypto projects is quietly building tools that actually help.

These aren’t hype tokens – they’re practical, security-first platforms that could be the grown-ups the industry desperately needs.

If you’re looking for the best crypto to buy in a market full of madness, these three deserve your attention.

When Chaos Reigns: A Quick Reality Check

Think crypto’s getting safer? This week says otherwise.

First up – the kind of story that sounds made up. In Italy, a man was kidnapped and tortured in a mountain cabin for eight days — all so the attacker, a Dutch crypto investor, could steal his wallet passwords. It’s digital greed at its darkest.

Meanwhile, Ledger users received fake phishing letters via USPS. Real envelopes. Fake security alerts. Inside was a malicious QR code urging users to ‘reset’ their wallets.

It looked official, and a major exec called it one of the most sophisticated phishing attempts yet.

And finally, the Mango Markets exploiter who drained $110M. His fraud conviction was overturned. The judge ruled that using a loophole wasn’t technically illegal. He walked free.

The takeaway? Crypto still lacks real protections. But not everyone’s asleep at the wheel. A handful of new projects are using this chaos to build smarter, safer systems – with tools designed to keep your assets and identity intact.

Let’s take a look at the best crypto to buy if you’re ready to invest in the solution, not the problem.

1. Best Wallet Token ($BEST) – The Utility Token That Does More Than Sit in Your Wallet

Best Wallet Token ($BEST) isn’t just another token – it’s quickly earning its place among the best altcoins of 2025, powering one of crypto’s fastest-growing ecosystems.

Built around the Best Wallet app, $BEST gives holders real utility: reduced transaction fees, early access to vetted crypto presales, staking rewards, and even iGaming perks like free spins and lootboxes.

With over $12.6M raised in presale and a current price of $0.025075, $BEST is gaining serious traction.
The token unlocks exclusive features like Upcoming Tokens, a built-in presale platform for partner projects – all without scammy mirror sites or confusing DApps.

There’s also ecosystem governance on the table. As Best Wallet’s user base (already growing at 50% per month) expands, $BEST holders will have a voice in its direction – from feature updates to presale curation.

Backed by Fireblocks’ MPC-CMP security and supported by a 70K-strong social community, $BEST isn’t just a token. It’s a stake in the next wave of secure, user-first crypto infrastructure.

In a market begging for safer tools and real rewards, $BEST stands out as one of the best crypto to buy right now.

2. SUBBD Token ($SUBBD) – Fighting Bots, Boosting Creators, and Backing It All With Data

SUBBD Token ($SUBBD) is doing what few projects dare: calling out the fake numbers that dominate crypto influence.

No more bottled engagement or shady shilling – $SUBBD tracks who actually delivers clicks, conversions, and community growth, and rewards users based on real impact.

At its core, $SUBBD is the first AI-powered content creation and influencer platform that bridges Web2 fame and Web3 transparency.

It lets users create AI-generated images, videos, and avatars with approval from real creators.

Meanwhile, creators use $SUBBD’s built-in AI assistant to manage scheduling, edit content, and boost revenue – all without middlemen taking half their cut.

Over $500K has already been raised in presale, and $SUBBD is currently priced at just $0.0555. With price forecasts putting it between $0.08 and $0.30 by the end of 2025, early believers may be in for real returns.

The platform already boasts a 250M+ combined following across its ambassadors and brands, and offers staking rewards up to 20% APY.

$SUBBD also powers frictionless payments, letting creators get tipped or paid in fiat or crypto – instantly and globally.

In a market plagued by phishing scams and exploiters walking free, $SUBBD brings accountability and transparency back to digital influence.

It’s not just a token. It’s a fix for an $85B creator economy that’s long overdue for disruption.

3. Bittensor ($TAO) – Building Decentralized AI Infrastructure

In a crypto landscape plagued by scams and centralized exploits, Bittensor ($TAO) offers a refreshing alternative: a decentralized, blockchain-based machine learning network.

This open-source protocol incentivizes developers to contribute and refine AI models collaboratively, rewarding them with TAO tokens based on the value they add to the network.

Currently trading at $418.89, TAO has seen a 17% increase over the past month, reflecting growing investor confidence in decentralized AI solutions.

Source: CoinMarketCap.

With a circulating supply of 8.7M tokens and a market cap of approximately $3.4B, Bittensor is gaining traction as a leading project in the AI crypto sector.

In an era where centralized systems are vulnerable to phishing scams and legal loopholes, Bittensor’s decentralized approach to AI development offers a more secure and transparent alternative.

By fostering a collaborative environment for AI innovation, Bittensor not only addresses current security concerns but also lays the groundwork for a more resilient and equitable digital future.

Order in the Chaos

Crypto’s wild side isn’t going anywhere. But projects like Best Wallet Token ($BEST), SUBBD ($SUBBD), and Bittensor ($TAO) are proving that chaos can spark real innovation.

These builders aren’t just dodging scandals – they’re responding with smarter, safer tools for everyone else.
In a world where your password could get you kidnapped, it’s good to know there are still teams fighting the good fight.

Always do your own research (DYOR) before investing in crypto. This article is for informational purposes only and doesn’t constitute financial advice.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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May 25, 2025 0 comments
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Freedom of the Press Foundation Threatens Legal Action if Paramount Settles With Trump Over '60 Minutes' Interview
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Freedom of the Press Foundation Threatens Legal Action if Paramount Settles With Trump Over ’60 Minutes’ Interview

by admin May 24, 2025


Media advocacy group Freedom of the Press Foundation has sent a warning letter to Paramount mogul Shari Redstone, outlining plans to file a lawsuit if the media company settles a suit brought by President Donald Trump against its subsidiary, CBS.

“Corporations that own news outlets should not be in the business of settling baseless lawsuits that clearly violate the First Amendment,” Freedom of the Press Foundation director of advocacy Seth Stern said in a statement.

Stern issued the warning by asking for a litigation hold on Friday afternoon, demanding that Paramount preserve any documents relating to a potential Trump deal and urging the company not to settle. The nonprofit is able to seek damages because it owns shares of Paramount. It plans to act on behalf of itself and other shareholders, alleging that the settlement would amount to the company’s executives “breaching their fiduciary duties and wasting corporate assets by engaging in conduct that US senators and others believe could amount to unlawful bribery that falls outside the scope of the business judgment rule.” The White House and Paramount did not immediately respond to requests for comment.

Last October, President Trump sued Paramount subsidiaries CBS Broadcasting and CBS Interactive, alleging that an interview with former Vice President Kamala Harris that aired on longstanding CBS News program 60 Minutes was deceptively edited, in a manner that constituted election interference. Initially seeking $10 billion in damages, Trump amended the lawsuit in February to ask for $20 billion. Paramount Global has a market cap of roughly $8.5 billion.

Although Paramount previously called the lawsuit “an affront to the First Amendment” in legal filings to dismiss this March, it has reportedly sought to settle; the company has a potentially lucrative merger pending with Hollywood studio Skydance that would require the Trump administration’s signoff.

Last week, Democratic senators Elizabeth Warren, Bernie Sanders, and Ron Wyden sent a letter to Redstone seeking information about any potential settlement, raising concerns that it would amount to bribery. “If Paramount officials make these concessions in a quid pro quo arrangement to influence President Trump or other Administration officials,” they wrote, “they may be breaking the law.”

Talks of a potential settlement had roiled CBS for months. Longtime 60 Minutes executive producer Bill Owens abruptly resigned in April, and CBS News president and CEO Wendy McMahon resigned earlier this month. “It’s become clear the company and I do not agree on a path forward,” she wrote in a memo to staff at the time.

Trump’s lawsuit against Paramount isn’t an isolated attack on the media. He sued ABC News, owned by the Walt Disney Company, for defamation in March 2024 over comments from anchor George Stephanopoulos portraying the president as “liable for rape.” (A federal jury found President Trump liable for sexual assault in a 2023 civil case, but not rape.) The company settled the case in December. In late April, Trump posted comments on his social platform Truth Social that appeared to threaten The New York Times with the possibility of legal action in the future.



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May 24, 2025 0 comments
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Public Keys: Coinbase Hack Fallout, MSTR Legal Strife and Stable-Curious Wall Street

by admin May 23, 2025



In brief

  • Coinbase released a few more worrying details about the data breach it reported last week.
  • Strategy got hit with a class action lawsuit, then launched a “crown jewel” of a $2.1 billion stock offering.
  • A trio of banks are mulling a stablecoin contender, but it would be used on a permissioned network.

Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.

This week:

Worrying details from Coinbase

The data breach Coinbase told users and investors about last week has gotten a little more worrying.

It’s not that more data has been stolen. But the company filed a disclosure with the Maine Attorney General that included a few key details that were missing from its SEC filing and blog post about the exploit.

The breach occurred on December 26, 2024, and wasn’t discovered until May 11, 2025. That means the company went 136 days without knowing customer data had been compromised. The only spot on Coinbase’s 8-K filing that mentions December is the boilerplate about forward looking statements.



In its blog post, Coinbase described the number of users impacted as “less than 1%” of its monthly transacting users—leaving readers to do the math on their own. But it was more explicit in the Maine filing, saying 69,461 users had data leaked.

Don’t get us wrong. The company’s stock, which trades on the Nasdaq under the COIN ticker, has shaken off the post-disclosure investor jitters. It had climbed to $271.95 by yesterday’s close. That’s the highest the price has been since February and was likely spurred along by Bitcoin reaching a new all-time high.

But, uh, is there anything else we should know about that data breach? Asking for about 70,000 friends. With the personal details, including home addresses, of potentially high-net-worth individuals in the wind, TechCrunch and Arrington Capital Founder Michael Arrington is concerned lives could be at risk.

Run that ‘Crown Jewel’ fast

Strategy co-founder Michael Saylor and his company face a new class action lawsuit from investors who allege they were misled about the risks of the company’s aggressive Bitcoin accumulation strategy.

In particular, the plaintiffs take issue with Strategy saying in its latest earnings report that ““[w]e may not be able to regain profitability in future periods, particularly if we incur significant unrealized losses related to our digital assets.”

Filed in a Virginia federal court, the suit claims MicroStrategy downplayed the volatility of Bitcoin, leading to significant investor losses.

But you know the Strategy playbook by now: Bitcoin buying will continue until prices improve. Days later, the company unveiled a “crown jewel” offering of $2.1 billion worth of Perpetual Strife Preferred Stock (STRF).

Investors seem dubious of this latest offering, though. In the same week that Bitcoin twice set a new all-time high, MSTR shares are ending it 7% lower than they were last Friday.

Stable contenders

Recent progress on the GENIUS Act stablecoin bill in D.C. has Wall Street stalwarts JPMorgan, Citi, and Wells Fargo considering a partnership to create their own dollar-pegged stablecoin, according to a report earlier this week from The Wall Street Journal.

It’s potentially big if true, but unclear just how much market share the three banks could nab from the $248 billion worth of stables already in circulation, according to CoinGecko data.

There’s one detail that gives us pause: The banks are exploring tokenized deposit products—all good so far—and permissioned blockchains. That’s where a lot of big institutions start to lose on-chain credibility. (“Permissioned” is techno-speak for “private,” which makes these kinds of networks really just blockchains in name only.)

Compliance teams are still wary of conducting business on a public network. But when you take away the permissionless part, then projects start to look like the same old systems with buzzy new technology that makes them faster and cheaper.

But going the fully permissionless route isn’t a slam dunk, either. PayPal launched its PYUSD stablecoin on none other than Ethereum in August 2023. It’s currently the 110th largest stablecoin with a $880 million market capitalization, according to CoinGecko.

And it drew the ire of the Securities and Exchange Commission, which subpoenaed the company about the stablecoin in November 2023. It recently called off an investigation into PYUSD with no action taken.

It’s gotta be said, though, that fintech payments platform PayPal doesn’t have quite the same gravitas as three Wall Street institutions. If D.C. waves the green flag, things could get interesting.

Other Keys

  • Mocking crypto Batman: A bad actor who’s believed to be linked to the Coinbase data breach has been mocking on-chain sleuth ZachXBT. “L bozo,” the hacker wrote Wednesday evening through an Ethereum transaction using the blockchain’s input data message feature. The message was followed by a link to a YouTube meme video showing NBA legend James Worthy smoking a cigar. Gotham needs justice.
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Fortnite is back on the US App Store, as Epic and Apple's legal battle royale over it concludes with a 55-year-old exec tweeting the word "fam"
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Fortnite is back on the US App Store, as Epic and Apple’s legal battle royale over it concludes with a 55-year-old exec tweeting the word “fam”

by admin May 21, 2025


Fortnite’s available on iOS in the US again, with Epic and Apple’s legal tussle over it seemingly having concluded, at least for now. Epic Games has at least managed to get one of the outcomes it wanted out of all the hoohah, and its CEO has reponded as only he could – by letting all know we’re his “fam”.

As we’ve recently chromicled, Epic CEO Tim Sweeney launched a fresh effort to get Apple to agree to re-admit the game to its App Store following a judge issuing a pretty damning verdict against the fruit company earlier this month. The suit was actually all about payment options and the cut Apple takes of them, in case you’ve forgotten in the five years it’s rumbled on for.


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Now, though, tensions have seemigly cooled, with the two sides having concluded their bickering over Fortnite’s return to the US App Store by filing a joint notice stating they have “resolved all issues”. That’s after Epic went back to the judge presiding over the case in response to the initial trouble it appeared to be having getting the game through Apple’s review process.

“Fortnite is BACK on the App Store in the U.S. on iPhones and iPads…and on the Epic Games Store and AltStore in the E.U,” Epic has since announced, “It’ll show up in Search soon!”


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“We back fam,” Epic CEO Tim Sweeney, a 55-year-old exec, tweeted in response to the game making its comeback. Am I being a bit harsh suggesting that it’s a bit embarrassing for someone firmly in the dad to grandad age range to be using the word fam in reference to them getting their way in some legal wranglings over who gets the cash people spend on games that turned into an argument over one game returning to one storefront? Maybe, but does have a very ‘How do you do, fellow kids’ feel to it.

Folks in the EU have been able to enjoy iOS Fortnite again for a little while now, but this is a big day for Apple users in the states who’ve been having to get their mobile Fortnite fix by listening to this song on repeat.

You can finally talk to the AI Darth Vader that’s led Epic and Llama Productions to have an unfair labour practice charge filed against them by SAG-AFTRA.



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May 21, 2025 0 comments
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