ChainCatcher news, according to Caixin, changes in the leadership of the U.S. Treasury Department may alter the department's approach to cash held at the Federal Reserve. Strategists warn that this move could impact the U.S. bond market.Institutions such as Bank of America and Wrightson ICAP LLC indicate that as cash balances—funds that ensure the U.S. can pay its bills—decrease, the Treasury may reduce the funds held in Federal Reserve accounts.Against the backdrop of a restored debt ceiling and shrinking cash balances, this would allow the government to issue fewer short-term bonds, potentially saving taxpayer money.

ChainCatcher news, according to Bubblemaps, the late entrepreneur and cryptocurrency enthusiast John McAfee's account has released its own AI version of the meme coin AINTI on Solana, which has seen a large amount of insider trading. Before its release, 90% of the supply of AINTI was sent to multiple addresses, and over $1.5 million has already been sold off.Bubblemaps added that on January 7, the AINTI token deployer began distributing 60% of AINTI to 218 addresses, and this continued until the release, with a total of 287 addresses receiving 90% of the supply. Once the token was launched, 60 addresses sold off at a price of $1.5 million. Other insiders still hold 71% of the supply.

ChainCatcher news, McAfee widow Janice Elizabeth McAfee forwarded information about the meme coin Ainti, stating that this is an initiative to commemorate her husband's genius image and continue his legacy. The new project will integrate McAfee's core principles of freedom, privacy, and technology, combining cryptocurrency with AI technology.Previously, blockchain security company Shield confirmed that the late tech entrepreneur John McAfee's X account was not hacked. The account had previously posted promotional information about the Ainti token, which currently has a market value of $28.7 million.

ChainCatcher news, Shield announced on X that the late tech entrepreneur John McAfee's X account has not been hacked. The account announced the launch of the Ainti token and released the contract address earlier today.According to GMGN data, Ainti briefly surpassed $0.46, currently priced at $0.37301, with a market cap of $37.6 million.

ChainCatcher news, according to BusinessWire, a group of investors has recently filed a class action lawsuit against the founder of the Texas-based Bitcoin mining company Rhodium Enterprises, accusing him of fraud.The lawsuit was filed by attorneys from Iacuone McAllister Potter, claiming that the defendants (including Rhodium executives and Imperium Investments Holdings, LLC based in Fort Worth) deliberately misled the plaintiffs by concealing key information and engaging in proprietary trading, resulting in a total investment of $33 million. The case has been filed in the Tarrant County District Court. The lawsuit states, "The defendants intentionally misled and deceived the plaintiffs to secure their millions of dollars in investments so that the defendants could enrich themselves and make Imperium wealthy."The plaintiffs include a dozen investors in Rhodium, who claim that important facts regarding their investments and Rhodium's business operations were deliberately concealed. Most notably, the lawsuit alleges that the defendants failed to disclose a pending transaction to sell Rhodium's operational facilities to direct competitor Riot Blockchain, a deal that directly triggered conflicts with key power contracts.

ChainCatcher news, ECB Vice President Guindos stated that the European Central Bank's interest rates will be further lowered, but due to escalating trade tensions and global conflicts, officials should not act hastily.Previously, the European Central Bank warned in its "Financial Stability Assessment" that trade now poses an additional threat to the economies of the 20 Eurozone countries. Guindos expressed confidence in achieving the 2% inflation target next year and dismissed claims that inflation would fall below this target. With less than four weeks until the last interest rate meeting of the year, investors expect the borrowing costs to be lowered for the fourth time since June. Although further easing of monetary policy seems possible in 2025, the pace and extent of rate cuts remain uncertain, and disputes among policymakers are increasing.

ChainCatcher news, according to Hong Kong media reports, JPEX is suspected of violating regulations by promoting and operating in Hong Kong. The first civil lawsuit involves two plaintiffs seeking to recover 240,000 Tether or 1.85 million Hong Kong dollars from JPEX Group and a total of 7 defendants. One of the defendants, a JPEX registered company in Hong Kong, was absent from last month's hearing. Judge Zhou Zhaowen issued a ruling yesterday stating that the company, as an operator, holds assets and constitutes an express trust but has violated its responsibilities. Particularly, the case of the first plaintiff is evidently strong, thus the judge ordered the company to compensate at the request of the two individuals.According to the statement of claim, the first defendant, a company registered in Australia under JPEX, operates the JPEX virtual asset service and electronic platform. The plaintiffs personally or in their name deposited virtual currency into the platform account, and they request the court to rule that the second defendant has violated good faith and/or must restructure and repay debts. The judge also stated that in many common law jurisdictions, including Hong Kong, courts accept that cryptocurrency is considered "property" and can form a trust.The judge recognized that the two defendants operate a cryptocurrency trading platform, which records the movement of currency between accounts, involving trustee benefits and various agreement terms. Therefore, the defendants, as trustees, violated their responsibilities by transferring assets without authorization.

ChainCatcher news, according to Legal Network reports, the People's Court of Yuanjiang City, Hunan Province recently heard a dispute case arising from the buying and selling of virtual currency.In this case, Zhou approached his friend Dai, hoping to help him purchase the encrypted virtual currency BZZ for investment. Consequently, Dai, entrusted by Zhou, purchased BZZ virtual currency from Zheng and sent the virtual currency to Zhou's imtoken wallet. However, after some time, Zhou sued Zheng in court, demanding the return of the funds he used to purchase BZZ virtual currency, amounting to 76,518 yuan, and payment for the funds' occupation fee.After hearing the case, the court held that civil subjects engaging in civil activities must not violate legal provisions and must not go against public order and good customs. BZZ is a type of network virtual currency similar to Bitcoin, which does not have legal tender status and should not and cannot be circulated as currency in the market. Activities related to virtual currency are considered illegal financial activities, and citizens participating in virtual currency transactions must bear their own investment risks. The entrusted transactions, management, and related refund actions concerning BZZ among Zhou, Zheng, and Dai are currently not protected by law in our country, and the consequences of such actions should be borne by themselves. Zhou's request for Zheng to return the funds used to purchase BZZ virtual currency, amounting to 76,518 yuan, and to pay the funds' occupation fee lacks factual and legal basis, thus the court ultimately ruled to dismiss Zhou's lawsuit.

ChainCatcher news, the three judges of the Civil Division of the Seoul High Court ruled in favor of the Fantom Foundation with a vote of 19-3, and sued the South Korean food tech startup SikSin and its CEO Byung-Ik Ahn (collectively referred to as "the plaintiffs"), overturning the first-instance judgment of the Seoul Central District Court (which granted the plaintiffs full compensation of over 198 million FTM from Fantom), dismissing all claims for compensation sought by the plaintiffs, and ordering the plaintiffs to bear all litigation costs.It is reported that on July 23, 2019, Ahn and SikSin filed a lawsuit against Fantom, located in the Cayman Islands, in the Seoul Central District Court. They claimed to have provided multiple services under a service agreement signed with Fantom ("Service Agreement"). The appellate court found that Ahn and SikSin not only failed to design a viable blockchain technology but also engaged in plagiarism, which brought the Fantom project "to the brink of collapse." The first-instance proceedings were conducted without Fantom's participation, and Fantom was unaware of the first-instance proceedings. On May 27, 2022, the Seoul Central District Court ruled that Ahn and SikSin were entitled to all the relief sought by Ahn and SikSin, but Fantom was unaware of this.

ChainCatcher News, the Chief Judge of the U.S. District Court for the Southern District of New York has denied the plaintiff Shawn Dolifka's motion for a class action lawsuit against Tether and Bitfinex, and Dolifka has decided not to appeal.The judge's final ruling supports Tether and Bitfinex, dismissing the lawsuit. Tether stated in a statement that Dolifka's decision to waive his right to appeal was the right choice, as his claims were completely unfounded, and further litigation would not bring any economic or other benefits to him or his lawyers. Tether emphasized that they will never become victims of sham litigation extortion.

ChainCatcher news, according to Blockworks, three defendants in the FTX class action lawsuit (Jacksonville Jaguars quarterback Trevor Lawrence and YouTube influencers Keven Paffrath and Tom Nash) have reached a proposed settlement agreement with the plaintiffs, with no details or settlement terms disclosed in the documents.Additionally, the attorneys for the class action lawsuit noted that they "are in confidential settlement discussions with other FTX defendants," with mediation dates set for October and November. The lawyers revealed that they intend to file a motion to dismiss soon. If progress is made on the settlement, the attorneys plan to submit a document on January 5 of next year seeking to arrange a motion for preliminary approval.

ChainCatcher news, according to CoinTelegraph, FTX's former legal advisor Fenwick & West LLP is facing a class-action lawsuit, accusing it of aiding FTX in committing billions of dollars in fraud. The lawsuit was filed on August 7 by a group of FTX customers, claiming that the services provided by Fenwick & West LLP "far exceeded what a law firm should and typically provides," such as organizing the acquisition of FTX's U.S. company in a way that evades regulatory scrutiny and providing employees to execute the strategies proposed by the law firm. The shadow entities mentioned in the lawsuit are North Dimension and North Wireless Dimension, which misappropriated FTX customers' funds.