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Philipp Petkevitch
@petkevitch
What happened in the crypto industry last week (August 12-18)?
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Philipp Petkevitch
@petkevitch
1/ The SEC is investigating the funding details of Uniswap Labs, which raised over $170 million with a valuation of nearly $1.7 billion. The commission has requested information from venture funds, including Andreessen Horowitz (a16z) and Union Square Ventures, about the terms of financing. https://www.axios.com/2024/08/12/sec-questions-vcs-uniswap
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Philipp Petkevitch
@petkevitch
2/ The Victoria District Court sentenced 39-year-old Australian Jatinder Singh to three years in prison for misappropriating corporate funds from the exchange Crypto.com. He and his girlfriend received AUD 10.47 million after a Crypto.com accounting error. The couple spent the money on four homes, cars, artwork, and luxury goods, and gifted a friend AUD 1 million. https://www.news.com.au/national/victoria/courts-law/cryptocurrency-enthusiast-jatinder-singh-jailed-for-spending-spree-after-accidentally-receiving-1047m-refund/news-story/8932bec1c58806b060a5f70fe7f76c3d
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Philipp Petkevitch
@petkevitch
3/ A Dubai court of first instance has recognized the legality of paying wages in digital assets. The ruling was made in a case where an employee accused his former employer of not paying part of his salary in EcoWatt (EWT) tokens. The judge ruled that the company must settle its debt in kind, paying the cryptocurrency without converting it to fiat. https://cointelegraph.com/news/dubai-court-recognizes-crypto-salary-payments
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