Bitclout

BitClout founder Nader Al-Naji faces SEC and DoJ charges for wire fraud and securities violations, Compound Finance is embroiled in a $24 million governance attack controversy, and the US government moved $2 billion worth of Bitcoin, causing a 4% drop in its value. Let’s find out more Bitcoin Only two days after presidential hopeful Donald Trump said at the Bitcoin 2024 conference that he would not move the US Silk Road $BTC, the government did just that, transferring $2 billion…

BitClout founder Nader Al-Naji has been charged by the SEC and DoJ with wire fraud and securities violations for allegedly misusing $257 million in investor funds. SEC Allegations Another day, another SEC lawsuit. The latest crypto entity under the regulator’s crosshairs is the Web3-based social media platform BitClout. The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DoJ) have jointly charged BitClout’s founder, Nader Al-Naji, with wire fraud and the sale of unregistered securities. The SEC's complaint,…

The post BitClout Founder Charged with Multi-Million Dollar Crypto Fraud appeared first on Coinpedia Fintech News Nader Al-Naji, the founder of BitClout, now known as Decentralized Social (DeSo), is facing serious charges. The SEC and the US Attorney’s Office for the Southern District of New York have charged him with fraud and selling unregistered securities. Misuse of Funds and False Claims The SEC claims Al-Naji raised $257 million through BitClout’s native token, BTCLT. He allegedly misused $7 million out of…

Today, an exciting announcement was made on decentralized social app Diamond that Bitclout 2.0, the highly-anticipated follow-up to 2021's viral sensation that took the crypto world by storm, has been revealed by the infamous @diamondhands. Bitclout 2.0 aims to build upon the success of the original by introducing several new products and features, effectively turning reputation into an asset class on par with what NFTs are today. BitClout 2.0 is expected to launch with a sophisticated airdrop after the DeSo…

Bitclout (Official Website) is a decentralized open-source blockchain social media network. The platform introduces a new business model that creates value based on the creator. This approach is different from Twitter and other platforms that focus on the content as the primary source of monetization. As such, the network has received support from some of the top players in the sector. In the Bitclout ecosystem, every profile is assigned a token. These tokens are designed to appreciate and depreciate based…