Investment firm Tiger Global has reportedly marked down several investments, including stakes in popular non-fungible token (NFT) projects, such as the Bored Ape Yacht Club (BAYC) collection and NFT marketplace OpenSea.
Tiger Global has reportedly marked down its stakes on BAYC by 69 per cent and on OpenSea by 94 per cent, according to Bloomberg. In addition, the investment firm has also slashed valuations for multiple other portfolio companies.
Tiger Global has been actively investing in various areas in the crypto space. Apart from NFTs, the firm also invests in Blockchain security and privacy-focused projects. In 2021, Tiger Global co-led a $24 million funding round for Blockchain security firm CertiK as it made efforts to expand its security offerings for the decentralised finance (DeFi) sector.
SEC Faces Sanctions Threat Over Deceptive Statement In Court
US District Judge Robert Shelby has cautioned the US Securities and Exchange Commission (SEC) lawyers, hinting at possible sanctions due to purportedly deceptive statements in a legal action against Digital Licensing Inc., also recognised as DEBT Box, a crypto company.
Lodged in the federal court of Utah, the SEC’s legal action alleged that DEBT Box deceived investors by around $50 million via the vending of unregistered securities known as “node licenses.”
Judge Shelby’s decision revealed notable discrepancies in the SEC’s case. Initially, the SEC, led by attorney Michael Welsh, had convinced the court to freeze DEBT Box’s assets, arguing that the company was moving to Dubai, beyond US regulatory reach. Subsequently, it was discovered that these assertions were inaccurate. There had been no bank account closures and the alleged overseas transfer of $720,000 was in fact a domestic transfer of funds.
The judge raised apprehensions regarding the behaviour of the SEC lawyers. Misrepresenting facts and the failure of other team members to rectify these inaccuracies may have violated federal court Rule 11(b), which mandates evidence-backed factual claims.
This resulted in the issuance of a “show cause order” by Shelby, requiring the SEC to provide reasons why they should not incur penalties for these actions.
KyberSwap Hacker Wants Total Control Of Kyber Company
The hacker who stole over $46 million from DeFi protocol KyberSwap has finally released a list of demands in exchange for returning some of the funds exploited in the heist. The hacker has also specified a deadline for the Kyber team to fulfil the demands.
In an on-chain message, the hacker said they wanted total control of the Kyber company and its assets, both on-chain and off-chain.
The hacker also said what they would do if their demands aren’t fulfilled. According to the message, they would double the salary of Kyber employees and buy out its executives before kicking them out of the company. Apart from this, the hacker also said that token holders and investors will also benefit from the transition by having their tokens “no longer be worthless.”
The hacker gave the Kyber team until December 10, 2023 to fulfil the demands.
