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Michael Kanovitz, a lawyer threatening to file a class action against Ben.eth, says the PSYOP scheme bear similarities to cases that have seen SEC enforcement. Ben.eth, the pseudo-anonymous memecoin creator behind at least three controversial token launches in recent weeks could fall under the crosshair of United States regulators, crypto lawyers suggest. A previously little-known personality in the crypto community, Ben.eth has seen his Twitter following blow up nearly five-fold in May. The influencer has launched at least three memecoins in recent weeks — Ben Coin (BEN), PSYOP, and LOYAL. Pre-sales of these memecoins — which require Ether (ETH) to be sent directly to the creator himself — have allowed Ben.eth to gather thousands of ETH. Currently, his wallet holds 10,946 ETH, equivalent to $20.8 million. The ETH balance of the ben.eth wallet is nearing $21 million worth. Source: Etherscan While Ben.eth’s supporters have defended the legitimacy of the token sales, others warn that ...

Pepe Coin (PEPE) is the latest craze to grasp the crypto sector. The token has gained as much as 665% in the last week and 585% in 14 days. The asset has led to many investors bowing down in FOMO (fear of missing out) of what many think is the new memecoin king. However, a parallel development has taken place thanks to the craze around the frog-themed crypto project. Demand for Pepe Coin (PEPE) has caused a surge in Ethereum ( ETH ) gas fees. Gas fee on the popular network has reached one-year highs due to increased transactions to buy PEPE. On May 4, the average cost of a single Ethereum transaction increased above $15.82. Although Ethereum’s average transaction costs rose to between $50 and $70 in 2021, things have been relatively quiet since the market collapsed in May 2022. Source: Etherscan.io PEPE trade volume on Uniswap has topped $150 million over the past 24 hours, outpacing Wrapped Bitcoin (WBTC) and USDT stablecoin levels. On May 1, the PEPE token, with a market capitali...

Crypto fund flows have yet again started painting a favorable picture. Institutions have begun re-directing funds toward crypto assets. Just over the past week, digital asset investment products saw inflows summing up to $57 million. In fact, this brought back flows to the positive territory on the YTD frame. According to CoinShares’ latest weekly report, the sentiment is currently positive among investors. Bitcoin was the largest beneficiary of this week’s action. It registered $56m of inflows. The same made up 98% of all positive flows. Short-Bitcoin products on the other hand noted outflows, bringing to light the refining sentiment. Last week, and the week before that, Ethereum noted outflows of $2.8 million and $5.2 million respectively. However, this week, the tale was different. Ethereum’s number managed to step back into a positive territory and flashed a value of $0.6 million. Alongside, Altcoins like XRP and MATIC also registered inflows worth $0.2 million each....

According to a recent report from The Wall Street Journal, McD onald’s is temporarily closing its U.S. offices this week. Parallelly, the American multinational fast food chain is working on its company revamp plan and is preparing to lay off employees. McD onald’s is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about layoffs https://t.co/dF6l4RNzNp — The Wall Street Journal (@WSJ) April 2, 2023 Also Read: Disney Shelves Metaverse Plans: 50 Employees Released Citing a recent internal e-mail viewed, The Wall Street Journal reported that the burger giant instructed its U.S. employees and some international staff to “work from home from Monday through Wednesday so it can deliver staffing decisions virtually.” Additionally, employees have been asked to cancel all in-person meetings with vendors and other outside parties at its headquarters. The message additionally noted, “During the week of April 3, we will communicate key decisi...