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Alameda Research files $90M ‘aggressive’ lawsuit against Waves founder

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Alameda Research, the troubled trading firm linked to the collapsed FTX exchange, has filed a lawsuit against Alexander Dubovoy, the founder of the Waves blockchain, seeking $90 million in damages. The lawsuit alleges that Dubovoy violated a business agreement by failing to meet the terms set out between the two parties, causing significant financial loss to Alameda. According to court filings, the dispute centers around a failed investment deal and the mismanagement of funds that were intended for the development and growth of the Waves platform.

The lawsuit claims that Alameda provided significant financial backing to Waves, which was expected to be used for specific initiatives to drive the blockchain’s expansion. However, Alameda contends that Dubovoy failed to fulfill his end of the bargain, including missing key deliverables and misappropriating the funds. The firm alleges that the breach of agreement not only impacted the value of its investment but also caused long-term reputational damage in an already volatile market.

Dubovoy, who founded Waves as a decentralized platform for building smart contracts and applications, has yet to publicly comment on the lawsuit. Waves has faced challenges over the past year, with the broader crypto market downturn adding to the difficulties. However, the platform has continued to maintain a loyal following, particularly in the decentralized finance (DeFi) space. The legal battle between Alameda and Dubovoy could have significant ramifications for both parties, as well as for the broader blockchain ecosystem, which has seen increasing scrutiny from regulators and investors.

The lawsuit further compounds the ongoing legal challenges for Alameda Research, which is still embroiled in the aftermath of FTX’s dramatic collapse. As part of its restructuring efforts, Alameda has been pursuing various legal avenues to recover assets and settle outstanding disputes. This case is expected to be a closely watched one, as it not only involves high-profile crypto figures but also highlights the risks associated with investment agreements in the rapidly evolving blockchain and cryptocurrency sectors.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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