🦎🚀 The SEC isn't stopping!! 😥

Tuesday, April 18, 2023

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SEC Keeps On Hunting

On Monday, the United States Securities and Exchange Commission (SEC) charged Seattle-based crypto exchange Bittrex with violating securities laws, by not registering with the authority in several business areas.

The lawsuit namedrops six tokens which the SEC labels as securities; namely, OMG Network (OMG), Dash (DASH), Algorand (ALGO), Monolith (TKN), Naga (NGC), and Real Estate Protocol (IHT).

The announcement comes after a string of lawsuits the SEC has been launching on the crypto industry, with centralized exchanges Kraken and Coinbase finding themselves in the sights of the financial watchdog as well.

In today's news, Arbitrum surpassed 5 million accounts, 2022 was a bad year in crypto for Australia, and Nike released its inaugural NFT collection on Polygon.

Read on!

Now LIVE: 2023 Q1 Crypto Industry Report 📊

The crypto market woke from its end-2022 hibernation to shake off the bears, increasing 48.9% from a total market cap of $831.8B on Jan 1, 2023 to $1.238T on Mar 31, 2023. While not smooth sailing all the way, losses stemming from FTX's collapse have been reversed, returning the market to heights before the Ethereum Merge – with BTC even posting a 72% gain.

Our comprehensive 2023 Q1 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into DeFi and NFT ecosystems and reviewing crypto exchanges performance.

Don't miss out on these 6 key highlights and the full report here!

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Scams Scarred Australia in 2022

A recent report published by the Australian Competition and Consumer Commission (ACCC) revealed that Australians lost $148.4 million (AU$221.3 million) from scams where crypto was used as a payment method to transfer funds.

The figure is alarming and marks an astronomical rise compared to prior years; $56.3 million (AU$84 million) in 2021 and $20.5 million (AU$26.5 million) in 2020.

Overall, the amount in 2022 counted nearly 4,000 Australians as victims and resulted in a significant increase of 162.4% year-on-year.

Decrypt

Arbitrum Up!

Following the highly anticipated airdrop, Ethereum layer-2 scaling solution Arbitrum (ARB) has surpassed 5 million wallet addresses as of April 17.

The Dune Analytics report also showcased that the Layer-2 has over 4 million active accounts in its ecosystem, amassing nearly 200 million transactions since inception.

Last month, the airdrop saw the distribution of 1.275 billion ARB tokens to 625,143 eligible addresses.

Cointelegraph

Just Do It

Global footwear giant Nike unveiled its first non-fungible token (NFT) digital sneaker collection, after launching its Web3 community platform .Swoosh.

The collection, titled 'Our Force 1 (OF1)', will take inspiration from the iconic Nike Air Force 1 sneaker and will be released via the Polygon network.

Users will have a choice of two digital boxes, "Classic Remix" and the "New Wave", with each box containing different designs and costing users $19.82, a tribute to the year that the Air Force 1 sneaker was first released.

CoinDesk

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