The stablecoin, which is pegged to the US dollar, was the first token launched on the crypto exchange Poloneix’s new Intiatial Exchange Offering (IEO) platform LaunchBase. Poloniex, which is partially owned by Sun, said last month that the stablecoin would be generated from Tron tokens (TRX) through a Collateralized Debt Position on the stablecoin’s JUST platform.
Just prior to the launch of the new Poloniex token sale platform last month, Tron was hit with a class-action lawsuit alleging violations of US securities laws in connection with the sale of Tron (TRX) tokens. The complaint was part of a set of “Red Wedding” lawsuits which were filed against Binance, BitMex, and other major crypto companies—all which alleged illegal sales of tokens associated with ICOs.
Over the last few years, token sales, ICOs, and IEOs have come under heavy scrutiny from regulatory authorities such as the US Securities and Exchange Commission. What’s more, just as stablecoin trading volumes are exploding across the crypto industry, and regulators around the world are beginning to take notice of the potential “risk to global financial stability” from the growth of stablecoins.
Actor and noted crypto critic Ben McKenzie is set to make his directorial debut at SXSW London with the June premiere of his documentary, “Everyone Is Lying to You for Money,” according to a report by Deadline.
The documentary follows McKenzie—best known for roles on "The O.C." and "Gotham"—as he investigates the cryptocurrency world and interviews key figures, including during a trip to El Salvador to examine President Nayib Bukele's regime, which made Bitcoin legal tender in 2021.
“When I star...
Ethereum just lost one of its long-time institutional backers.
In a Thursday statement, algorithmic trading firm Two Prime announced it is dropping all exposure to Ethereum (ETH) and will exclusively manage and lend against Bitcoin (BTC) going forward, citing Ethereum’s unpredictable behavior, declining market momentum, and eroding institutional appeal.
Why Two Prime is Going BTC Only https://t.co/VtrQAUyGL0 pic.twitter.com/4BWVd8R7HM
— Two Prime (@Two_Prime) May 1, 2025
Two Prime didn’t say h...
Crypto asset manager 21Shares applied for an exchange-traded fund tracking the price of Sui, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.
The 21Shares Sui ETF aims to broaden investors’ access to the native token of the layer-1 network designed for high-speed transactions, which has been dubbed by some as a “Solana Killer.”
The filing named Coinbase as a custodian to safeguard investors’ funds, according to the registration statement, but did not specify...