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Crypto NFT Daily News

Crypto News Daily – Solana Labs & Solana Foundation Hit by a Lawsuit!

Crypto News Daily: Solana Network has suffered at least seven full or partial outages in the past year, allegedly causing SOL crypto value to fall. Additional reasons rack up to make the Decentralized claims of Solana Foundation and Solana Labs questionable.

» Lawsuit Accuses Solana of Promoting Unregistered Security!

Mark Young, a state resident of California, has filed a lawsuit against Solana Labs and Solana Foundation, highlighting security concerns. The Class Action lawsuit is filed by Roche Freedman LLP and Schneider Wallace Cottrell Konecky.

  • Solana Labs and several entities tied to Solana Foundation are accused of selling Unregistered Securities as tokens (SOL).
  •  The lawsuit claims the network, labs, and foundation made deliberately misleading statements.
    • Claims mention the failure of disclosure from the Solana Labs founder Anatoly Yakovenko lending 11.3 Million SOL tokens in April 2020.
    • During the time, the company statement said to reduce the supply by the same amount but only burned approximately 3.3 million SOL tokens.
  • IF SOL might be ruled as a Security in Court, it may get delisted from global or leading Crypto Exchanges.

» More Crypto News Daily!

crypto news daily

→ Reddit Launches NFT Marketplace for 90+ NFT Reddit Avatars!

The official announcement states users will be able to access & create their desired NFT Reddit Avatars from the Reddit Avatar Builder. Previously, Reddit has already featured and sold its exclusive NFT collection CryptoSnoos, whose success now expands the NFT Reddit community and collection.

  • Over 90 NFT Reddit Avatars will be available for sale at fixed prices.
  • The fixed prices are $9.99, $24.99, $49.99, $74.99, and $99.99.
    • Purchasable via Credit Cards, Debit Cards, and Crypto Wallets.
  • Reddit to contribute sales directly to the NFT Avatar creators & Artists.
  • Reddit NFT collection will be minted on the Ethereum compatible, Polygon blockchain network.
  • Reddit NFT Avatars could be stored within the Reddit Vault.

→ Lancium & Broad Reach Power Partner in Texas for Crypto Mining!

Lancium, a registered Crypto infrastructure provider, will acquire power for a portion of its 25MW Texas Clean Campus Data Center. The official statement reads they have partnered with  Broad Reach Power, an established utility-scale solar and energy storage provider.

  • The Partnership will supply Lancium with power from utility-scale batteries to keep the data center stable when grid supplies run short.
  • Lancuim Data Centers are equipped with technology to handle power consumption fluctuations. It makes adapting to renewable energy scalable for the firm.
  • Broad Reach Power will supply batteries that have power generated from farming wind and solar energy.

→ Bitcoin Cryptocurrency (BTC) jumps +8% to a Gain 3 Weeks High!

The Crypto Today prices appear to beam with their former lost glory as it makes headlines by attaining needed highs. The rise of the popular crypto Bitcoin has surged by 8%, crossing the $22k mark in over three weeks. Such momentum sets it on the path to making the biggest weekly gains in the past nine months!

Other cryptos also stayed well afloat against their support levels, adding relief for worldwide crypto investors. The ripple effect of it should likely positively influence the stooped NFT sales market. Let’s see!

Crypto Sale Today – July 8th, 2022

On the global crypto market, the top cryptocurrencies prices or crypto today reflect the following figures:

crypto news daily
  • (BTC) Bitcoin
    • Average Price: $21,794
    • 24h: + 7.19% ↑
  • (ETH) Ethereum
    • Average Price: $1,239.34
    • 24h: + 6.08% ↑
  • (BNB) Binance Coin
    • Average Price: $240.39
    • 24h: + 1.67% ↑
  • (XRP) Ripple
    • Average Price: $0.3515
    • 24h: + 6.44% ↑
  • (ADA) Cardano
    • Average Price: $0.4752
    • 24h: + 2.26% ↑
  • (SOL) Solana
    • Average Price: $37.41
    • 24h: + 2.50% ↑

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