🧨 SEC charges Justin Sun and a number of celebrities

🧨 SEC charges Justin Sun and a number of celebrities 🔨 White House slams crypto assets in a new report 🔥 Telegram's @wallet now supports USDT

GM!

$VEMP's private / VC investors are now fully vested, and this means that inflation is dropping! Right around the time of our 1.5 year BDAY, inflation is now below the teens and DROPPING MORE EACH YEAR!

This is a great sign for our future, and something to celebrate! We've come a long way in a short amount of time, and we are looking forward to the next phase of growth.

Here's what recently happened in the space:

🧨 SEC charges Justin Sun and a number of celebrities

🔨 White House slams crypto assets in a new report

🔥 Telegram's @wallet now supports USDT

SEC charges Justin Sun and a number of celebrities

SEC has recently announced that it has charged Justin Sun, a prominent crypto entrepreneur, and his three companies- Tron Foundation, BitTorrent, and Rainberry Inc., for allegedly conducting an unregistered sale of securities. The SEC also charged a number of celebrities, including Lindsay Lohan, Jake Paul, Soulja Boy, Austin Mahone, Kendra Lust, Lil Yachty, Ne-Yo and Akon. According to the SEC, these celebrities used their social media accounts to tout and promote the sale of the securities without informing investors that they were being paid for doing so.

The SEC is alleging that Justin Sun and his companies violated the U.S. Securities Act of 1933 by issuing tokens without registering them with the SEC, failing to provide investors with proper disclosure documents for their investments, and failing to comply with federal anti-fraud laws. The agency further alleges that Sun made false statements about the tokens and their potential returns in order to entice potential investors. He supposedly also wash traded TRX between two crypto assets trading platforms accounts he controlled, with between $4 million and $7 million TRX wash traded daily.

Also according to SEC, all celebrities except Soulja Boy and Austin Mahone agreed to settle the charges by paying more than $4m in disgorgement, interest, and penalties after the charges were filed.

The SEC’s action is just the latest example of the US government's latest efforts to increase pressure on crypto, and while no one enjoys celebrities promoting scammy crypto projects, this could open up the door for further enforcement of crypto regulations in the US.

White House slams crypto assets in a new report

The White House is openly slamming crypto in a new report. It claims that digital assets are mostly used for speculative investments and do not have a fundamental value due to their lack of tangible backing or real-world use cases. The report, called the Economic Report of the President, dedicates an entire 36-page chapter to criticizing and downplaying the appeal of crypto assets.

The report acknowledges that blockchain technology has the potential to revolutionize many industries, but says that cryptocurrency is not fulfilling its promise. It goes on to say that crypto assets are highly volatile and susceptible to manipulation, which makes them a poor investment option. Furthermore, the report claims that the artificial scarcity created by certain crypto assets is a direct threat to the financial system and could lead to panic and crashes. The report also points out that crypto transactions are often difficult to trace and are vulnerable to money laundering.

Overall, it's a big load of bull. The White House's criticisms of crypto assets are unfounded and based on outdated, biased data. Crypto is an asset class that promises to benefit society in ways beyond simple speculation, and this report fails to recognize that. It's a shame that the White House has chosen to take a negative stance on this matter.

Telegram's @wallet now supports USDT

You can now send USDT over Telegram. TG's @wallet bot now supports USDT, the world's largest stablecoin by market cap, enabling users to easily send, or buy/sell cryptocurrency within the app.

Currently, @wallet supports depositing and withdrawing USDT via TRON (TRC-20) blockchain, allowing users to securely transfer funds within the app. This can be seen as a major step forward for mainstream crypto adoption, as it makes sending crypto as easy as sending a text or a sticker. And even though there are other options for sending crypto, just having this option on the popular messaging app will make it much more accessible to people.