Month: January 2023

• Tribes, a new Web3-native messaging and group wallet app, has raised $3.3 million in a pre-seed funding round.
• The round was led by Kindred Ventures, South Park Commons and Script Capital and closed in October.
• Tribes aims to make Web3 primitives for co-ownership and collective action understandable and accessible to the masses.

Tribes, a new Web3-native messaging and group wallet app, recently announced that it had raised $3.3 million in a pre-seed funding round. The round was led by Kindred Ventures, South Park Commons and Script Capital and closed in October, during a challenging crypto bear market.

Tribes was founded by Hish Bouabdallah, a former Coinbase engineer, and is focused on making Web3 primitives for co-ownership and collective action more understandable and accessible to the masses. Through their app, users can join and manage digital wallet groups with friends and family, allowing them to co-own and manage digital assets such as crypto tokens, NFTs, and other digital assets.

The app also provides users with the ability to create and manage collective tasks within their wallet groups, while also allowing users to transfer money or tokens from their personal wallets to wallets within the group. In addition, users can discuss and manage group activities in a secure and private chat room, as well as view a timeline of all activities within the group.

Tribes is aiming to make Web3 primitives more accessible to everyday users, allowing them to leverage the power of collective decision-making, shared ownership, and other capabilities enabled by the underlying blockchain technology. By providing users with the tools to more easily manage and co-own digital assets, Tribes hopes to create a more efficient and secure way for people to manage their digital wallets.

The startup plans to use the funding to further develop its platform and expand its team, as well as build out its ecosystem of Web3 applications. With the new funding, Tribes also hopes to expand its reach to more users and further increase adoption of Web3 technology.

• The SEC has alleged that crypto exchange Gemini and crypto lending firm Genesis Global Capital have been selling unregistered securities.
• Both companies have been engaged in a public spat since Genesis suspended withdrawals last year.
• Howard Fischer, a former SEC Senior Trial Counsel, joined ‘First Mover’ to discuss the details of the lawsuit and the implications for the crypto industry.

The U.S. Securities and Exchange Commission (SEC) has recently filed a lawsuit alleging that two crypto-related companies, Gemini and Genesis Global Capital, have been selling unregistered securities. This is not the first time that the SEC has taken action against crypto-related firms, as in recent years the agency has taken action against a number of companies in the space.

Gemini is a crypto exchange founded by the Winklevoss twins, and Genesis Global Capital is a crypto lending firm. The two firms have been engaged in a public spat since Genesis suspended withdrawals last year. The SEC’s suit alleges that the two companies have been selling unregistered securities, which is a violation of federal securities laws.

In response to the SEC’s lawsuit, Gemini co-founder Tyler Winklevoss tweeted that the lawsuit was “counterproductive”. To better understand the implications of the lawsuit, Moses Singer Partner and former SEC Senior Trial Counsel Howard Fischer joined “First Mover” to discuss the timing and details of the lawsuit, citing the SEC’s regulatory bandwidth.

Fischer noted that the SEC is actively monitoring the crypto industry, and that its actions should be taken as a sign that the Commission is serious about protecting investors. He also highlighted the importance of following the SEC’s regulations, and of companies taking steps to ensure they are compliant with the law.

The SEC’s action against Gemini and Genesis is a sign that the agency is taking the crypto industry seriously, and that any companies operating in the space should be aware of the regulations and take steps to ensure compliance. As the industry continues to grow, it is likely that the SEC will continue to take action against companies that are not in compliance with federal securities laws.

• New York State Attorney General Letitia James has filed a lawsuit against ex-Celsius Network CEO Alex Mashinsky, accusing him of defrauding investors through false statements about the company’s health.
• The lawsuit alleges that Mashinsky misled investors between 2018 and at least June 2022 to keep the money flowing into the lending platform.
• The Attorney General is seeking to ban Mashinsky from ever serving as a director or officer of a New York-registered business, and to recover all losses from the fraudulent activity.

The New York Attorney General Letitia James has taken legal action against the former CEO of Celsius Network, Alex Mashinsky, for allegedly defrauding investors through false statements regarding the company’s health. According to the lawsuit, Mashinsky misled investors between 2018 and at least June 2022 in order to keep the money flowing into the lending platform.

The Attorney General is seeking to ban Mashinsky from ever serving as a director or officer of a New York-registered business, and to recover all losses from the fraudulent activity. In addition, the New York State Office of the Attorney General is seeking to bar Celsius Network from engaging in any further business activities in the state.

The complaint alleges that Mashinsky and Celsius Network engaged in a “fraudulent scheme” to deceive investors into believing the company was healthy and growing, when in reality it was in a state of financial distress. The complaint claims that Mashinsky misled investors on the company’s financial standing, its growth rate, and its ability to pay out its obligations.

In addition, the complaint alleges that Mashinsky and Celsius Network used misleading advertising and promotional materials to entice investors to pour money into the platform. According to the complaint, Mashinsky and Celsius Network falsely claimed to be the largest lender in the cryptocurrency space and that the company had an “A+” credit rating from a major rating agency.

The complaint also alleges that Mashinsky and Celsius Network failed to disclose the true financial condition of the company, which the complaint alleges was far worse than what the company was representing to investors. This included concealing the “true level of risk” posed by the company’s loan portfolio, which was significantly higher than the company was representing.

The complaint also alleges that Mashinsky and Celsius Network were aware of the risks posed by their loan portfolio, but failed to disclose these risks to investors. As a result, investors were unaware of the risks posed by the company’s loan portfolio and were unaware of the true financial condition of the company.

The Attorney General’s office is seeking to hold Mashinsky and Celsius Network accountable for their alleged fraudulent conduct. The office is seeking monetary damages, as well as an injunction to prevent the company from engaging in any further business activities in the state.

The case serves as a reminder of the importance of transparency and disclosure when dealing with investments. Investors should always be aware of the potential risks posed by any investment, and should take the time to research and understand the investments they make. It is also important to remember that investments can be risky, and that investors should never be misled or deceived when considering an investment.

• This article looks at the annual predictions for cryptocurrency prices and the volatility investors have had to contend with in the past 14 months.
• The most optimistic call for 2023 was made by digital venture capitalist Tim Draper, with a 1,400% rally predicted, while the most pessimistic call was made by Standard Chartered at $5,000.
• The article written by Christopher Robbins looks at the unpredictability of token prices and the wild world of annual cryptocurrency predictions.

The past 14 months have been a period of volatility for investors in the cryptocurrency markets. As digital assets have become more popular, predictions about the value of coins and tokens have become increasingly wild. This has left many investors and cryptocurrency enthusiasts wondering what the future holds for the industry.

The wild world of annual cryptocurrency predictions has been made especially visible through the bold calls made by venture capitalists and experts. On Monday, CNBC reported on the various predictions made for 2023, ranging from a 1,400% rally to a 70% plunge.

The most optimistic call was made by digital venture capitalist Tim Draper, who predicted a price of $250,000 by the end of 2023. This prediction was met with a degree of skepticism given the current market conditions, however Draper remained confident in his forecast. On the other hand, the most pessimistic call was made by Standard Chartered at $5,000. While this is still a significant increase from current prices, it is a far cry from Draper’s prediction.

The wildly differing predictions demonstrate the unpredictability of the cryptocurrency markets. While some investors may be tempted to make bold calls and back their predictions with large investments, others will likely take a more conservative approach. Ultimately, only time will tell what the future holds for digital assets.

Regardless of how the markets move, it is important for investors to remain informed and aware of the most up-to-date information and predictions. By understanding the various predictions, investors can make more informed decisions about their investments and better prepare themselves for any potential losses or gains.