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The cryptocurrency custody company Bakkt is facing a class action lawsuit for alleged "false statements and failure to disclose key information."

ChainCatcher news, according to Cointelegraph, investors in Bakkt Holdings have filed a class action lawsuit against the company and its executives, accusing them of making false or misleading statements and failing to adequately disclose important information related to major clients Webull and Bank of America (BoA), allegedly violating U.S. securities laws.The group of investors claims in the lawsuit that losing Bank of America and Webull would result in a "73% loss in revenue." The documents state that for most of 2023 and 2024, Webull accounted for 74% of Bakkt's crypto services revenue, while Bank of America accounted for 17% of its loyalty services revenue from January to September 2024.On March 17, 2025, Bakkt disclosed that Bank of America and Webull had no intention of renewing the agreement set to expire in 2025, causing the company's stock price to drop more than 27% within the following 24 hours. Investors accuse Bakkt of "misrepresenting the stability and/or diversity of its crypto services revenue" and failing to disclose that this revenue "largely depended on" contracts with Webull. The lawsuit states: "As a result of the defendants' wrongful conduct and inaction, along with the sharp decline in the company's market value, the plaintiffs and other class members suffered significant losses and damages."

The Securities Regulatory Commission has formulated a special rectification work plan to crack down on false "short essays" in the stock market

ChainCatcher news, according to the Securities Times, in the capital market, cracking down on false "small essays" in the stock market and seriously investigating illegal stock recommendations and other violations is one of the important measures to protect investors' legitimate rights and interests and maintain the order and stable, healthy development of the capital market.The China Securities Regulatory Commission (CSRC) has made the rectification of false information in the stock market an important part of standardizing the dissemination order of capital market information and improving the market ecology, adhering to a combination of short-term and long-term strategies, focusing on early intervention, impactful actions, and key areas, implementing comprehensive measures and multiple approaches to carry out the rectification.With the strong support of public security, internet information, and other departments, the CSRC has severely cracked down on the fabrication and dissemination of stock market rumors through a full-chain linkage of monitoring, identification, handling, warning, and investor education. In particular, a special rectification work plan has been formulated for false "small essays" in the stock market, strengthening public opinion monitoring and the investigation of false information; comprehensively using clarification releases, third-party journalist verification, and other forms to enhance proactive responses and debunking; and strengthening investor education and guidance to improve investors' discernment.Recently, public security authorities have successively investigated and dealt with individuals responsible for fabricating and disseminating rumors such as "institutional reports on hot money" and "J.P. Morgan research reports."

KuanDe Investment responds to the accusation of "brain-machine weapon persecution": the content mentioned is false

ChainCatcher news, according to Jinshi Data reports, the news about "a certain employee of the well-known quantitative private equity firm KuanDe Investment accusing the company of using brain-machine weapons to persecute employees on social media" is continuing to ferment in the private equity circle.In response to the above "accusation," KuanDe Investment stated: "The company has noticed inappropriate remarks about it appearing on online platforms. After verification, the publisher of these remarks did indeed have a short-term employment with the company (joined in July 2022 and voluntarily left in early September of the same year, with an employment period of about 1 month). Currently, this publisher has terminated their employment relationship with the company, and their remarks are personal behavior, containing false and misleading information."Previous news reported that an unknown programmer named "Hu LeZhi" burned 600 ETH and donated over 1411 ETH to a charity organization. The information mentioned that with the large-scale military deployment of brain-machine chips, all military power controls citizens through base stations, radio, and nano brain-machine chips, calling for public attention to this new type of crime, warning that if one becomes a victim of this process, they may choose to end their own life.
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