Blockchain Press Releases
If you purchased FEI or TRIBE tokens in the Genesis Event between March 31, 2021 and April 3, 2021, a class action settlement may affect your rights
A court authorized this Notice. This is not a solicitation from a lawyer.
COSTA MESA, Calif., July 7, 2023 /PRNewswire/ — Simpluris Inc. announces that a settlement has been proposed in a class action lawsuit concerning the sale of “FEI” or “TRIBE” tokens through the Fei Protocol in an initial sale conducted between March 31, 2021 and April 3, 2021, called the “Genesis Event.” The settlement will provide $17,850,000.00 to pay claims to persons and entities who purchased FEI or TRIBE tokens in the Genesis Event. If you qualify, you can submit a Proof of Claim form to get your share of the settlement, exclude yourself from the settlement to retain your right to sue, or object to the settlement. The amount of your claim could be substantial.
The Superior Court of California for San Francisco County authorized this notice. Before any money is paid, the Court will have a hearing to decide whether to approve the settlement.
WHO IS INCLUDED IN THE SETTLEMENT?
You are a class member and could get a payment if you purchased the digital assets FEI or TRIBE in exchange for ETH in the Genesis Event conducted between March 31, 2021 and April 3, 2021, including if you “pre-swapped” your FEI token allocation for TRIBE.
If you are not sure if you are included, you can get more information, including a detailed notice and class definition, at www.FEITRIBESecuritiesSettlement.com or by calling toll free 888-427-9229.
WHAT IS THIS LAWSUIT ABOUT?
The lawsuit claims that the sale of FEI and TRIBE tokens in the Genesis Event was a sale of unregistered securities. The plaintiff claims that this entitles persons who purchased FEI and TRIBE tokens directly from the Fei Protocol in the Genesis Event to get compensation. The defendants deny any wrongdoing, and the Court has not found that any defendant has committed wrongdoing.
WHAT DOES THE SETTLEMENT PROVIDE?
The settlement creates a fund of $17,850,000.00 (“Settlement Fund”) that will be used to pay class claims, settlement administration costs, taxes, attorneys’ fees and costs, and a potential service award to the plaintiff. The Net Settlement Fund, which is the amount left over after the Court approves any notice, claims and administration costs, taxes and tax expenses, attorneys’ fees and costs, a potential service award to the Plaintiff who brought the lawsuit, and other Court-approved deductions, will be divided pro rata among all class members who timely file a valid Proof of Claim form and do not exclude themselves from the settlement. The Net Settlement Fund is estimated to be at least $13 million, if the Court approves the payment of notice, claims and administration costs, attorneys’ fees and costs, and a service award for Plaintiff in the full amounts sought.
Your share of the Net Settlement Fund will depend on the total number of valid claims submitted, the amount of FEI and TRIBE tokens you purchased, and the amount you recouped or could recoup from selling or surrendering the tokens. All of the $17,850,000.00 fund will be paid out. Generally, if you bought more FEI and TRIBE tokens, and have more losses, you will receive a greater payment. If you bought fewer FEI and TRIBE tokens, and have fewer losses, you will receive a lesser payment.
HOW DO YOU REQUEST A PAYMENT?
To qualify for a payment, you must submit a valid Proof of Claim form and supporting documentation. You can download a paper version of the Proof of Claim form or submit one online at the Settlement Website www.FEITRIBESecuritiesSettlement.com. Proof of Claim forms are due by October 1, 2023.
WHAT ARE YOUR OTHER OPTIONS?
If you do not want to be legally bound by the settlement, you must exclude yourself by September 6, 2023, or you will not be able to sue or continue to sue the defendants about the legal claims in this case. If you exclude yourself, you cannot get money from the settlement. If you remain in the class, you may object to the settlement by October 1, 2023. For further information about your rights to object or to request exclusion from the settlement, you may visit www.FEITRIBESecuritiesSettlement.com, and in particular, the full Long Form Notice, which can be found at www.FEITRIBESecuritiesSettlement.com/long-form-notice.pdf.
The Court will hold a hearing on October 27, 2023 at 10:00 a.m. to consider whether to approve the settlement, and a request by the lawyers representing class members for approximately $4,500,000.00 in attorneys’ fees and costs for investigating the facts, litigating the case, and negotiating the settlement, as well as a service award of up to $10,000.00 for plaintiff for litigating class members’ claims. These requested fees, costs, and service award would represent approximately 25% of the settlement fund if approved. You may request to appear at the hearing, but you do not have to.
For more information, you may call toll free 888-427-9229, visit the website www.FEITRIBESecuritiesSettlement.com, email [email protected], or write to FEI TRIBE Securities Settlement, P.O. Box 25243, Santa Ana, CA 92799.
As headlines spotlight spot Bitcoin (BTC) exchange-traded fund (ETF) flows and institutions revealing their exposure to BTC ETFs, financial service infrastructure providers are quietly integrating blockchain technology into their systems.
According to a recent report from the Depository Trust & Clearing Corporation (DTCC), the firm conducted a pilot program named Smart NAV in collaboration with Chainlink (LINK). This initiative aimed to extend the capabilities of DTCC’s Mutual Fund Profile Service I (MFPS I), the industry standard for transmitting ‘Price and Rate’ data, also known as ‘NAV data.’
DTCC’s Mutual Fund Services business currently operates MFPS I, offering fund companies an automated solution to deliver prices and daily distribution rates to numerous clients for tens of thousands of mutual fund securities. Traditionally, DTCC collects price and rate data from funds/service providers and distributors, then aggregates and disseminates it at regular intervals through its message queue (MQ) and file-based methods.
The Smart NAV Pilot served as a digital extension of the existing MFPS I service, aiming to broaden and complement its current capabilities. DTCC recognized the growing interest in mutual fund tokenization and saw an opportunity for on-chain price and rate data to facilitate new initiatives. Taking a ‘chain-agnostic’ approach, meaning the ability to disseminate NAV data across virtually any blockchain, was crucial for enabling other use cases to build upon Smart NAV’s foundations.
Ten market participants, including major names like American Century Investments, BNY Mellon, and JP Morgan, collaborated with DTCC and Chainlink on the pilot. They evaluated the feasibility and industry value of implementing a distributed ledger technology (DLT)-based price and rate dissemination solution to unlock new benefits and support experimentation in the asset management space.
The pilot results demonstrated that delivering structured data on-chain and establishing standard roles and processes enabled foundational data to be integrated into various on-chain use cases, such as tokenized funds and bulk consumer smart contracts. This capability can fuel future industry exploration and empower numerous downstream use cases, including brokerage portfolio applications.
The simplest application of Smart NAV is to provide trusted, verifiable data on virtually any blockchain network to support its use in business workflows. During the pilot, DTCC acted as both the provider and governor of the on-chain data solution, while Chainlink’s CCIP served as the interoperability layer. The core capability explored is adaptable across a wide range of use cases, potentially enhancing operational efficiency and streamlining processes.
Based on the positive findings, DTCC sees an opportunity to expand the scope of the pilot to explore broader use cases beyond price and rate data dissemination and across more blockchains.
Source: kitco.com
The post DTCC partners with Chainlink and JPMorgan to pilot blockchain integration for fund data appeared first on HIPTHER Alerts.
Blockchain
Is Donald Trump’s Recent Crypto-Friendly Stance Genuine Or Opportunistic? Experts Weigh In
Presidential candidate Donald Trump recently made a surprising endorsement of crypto, suggesting that he would ease hostility towards cryptocurrencies in the US if re-elected.
Trump stated, “If we’re going to embrace it, we have to let them be,” and urged crypto supporters to vote for him. This marks a significant shift from his previous criticisms of Bitcoin and other cryptocurrencies in 2019, where he labeled them as “not money” due to their volatility and lack of intrinsic value, expressing concerns about their potential use in illegal activities like drug trafficking.
Crypto’s Impact on Voter Preferences
With approximately 20% of American adults reportedly holding crypto, candidates are taking notice. Markus Levin of XYO Network sees embracing crypto and implementing solid regulation as a strategic move in elections and sound policy overall. He believes Trump’s apparent positive stance towards the industry will sway some voters in his favor.
Jonathan Thomas of Blueberry suggests that Trump’s crypto-friendly rhetoric may attract voters who prioritize crypto as a single-issue matter.
Skepticism Surrounding Trump’s Crypto Support
However, not everyone is convinced by Trump’s newfound endorsement of crypto. NFT enthusiast Thorne Melcher views it as “flimsy” and warns against the potential for conservative politics to restrict crypto due to its use in areas such as trans hormone replacement therapy and abortions.
While some may see Trump’s support for crypto as a reason to vote for him, others like Stephanie Vaughan of Veda caution against assuming substantial benefits from this endorsement alone. Vaughan highlights the Biden Administration’s hardline stance on crypto regulation by enforcement, which she believes is unworkable and could push voters towards Trump.
Trump’s Strategy to Attract Crypto Voters
Trump’s pivot from crypto skeptic to NFT enthusiast reflects a strategic move to appeal to voters interested in crypto. Vaughan suggests that many crypto-focused voters may have supported Biden in the last election, but Trump is actively courting them by recognizing the industry’s significance.
By acknowledging crypto’s growing influence on voters, Trump aims to draw support away from Biden, positioning himself as the candidate more aligned with the interests of the crypto community.
Source: cryptonews.com
The post Is Donald Trump’s Recent Crypto-Friendly Stance Genuine Or Opportunistic? Experts Weigh In appeared first on HIPTHER Alerts.
droppGroup, a trailblazer in amalgamating blockchain and artificial intelligence, has unveiled droppLink, an innovative service platform poised to potentially revolutionize AI management and development across various blockchains. The architecture of droppLink empowers users with control over data contributions, abstracts computational requirements, and streamlines micropayments.
Stakeholders, dubbed Computational Resource Patrons (CRPs), contribute to the infrastructure costs and share profits from the facilitated AI operations.
As a web3 development firm, droppGroup specializes in deploying patented innovations in AI, machine learning (ML), object recognition, streaming, crypto, augmented reality (AR), virtual reality (VR), and mixed reality (MR). droppGroup is now advancing multi-modal AI systems with droppLink.
Gurps Rai, co-founder and CEO of droppGroup, explains that droppLink tokenizes each stage in an AI model’s lifecycle across multiple blockchains, such as Solana, Polygon, Ethereum, Base, and Hyperledger Fabric 2.5, ensuring unparalleled data integrity and expediting AI development.
Rai added, “This process upholds data ownership rights while establishing a transparent, immutable usage record via our Proof of Gen and Data Genesis protocols.”
Christopher J. Kelly, co-founder and president of droppGroup, underscores the company’s commitment to pushing the boundaries of multi-modal AI systems at the convergence of physical and digital realms, introducing cutting-edge solutions to the market.
Scheduled to speak on the monitoring and evaluation panel at the AWS Summit on May 22, Kelly will address topics like data integrity in AI and its alignment with the company’s mission.
With the AI market projected to reach $297 billion by 2027, ethical considerations such as data provenance, intellectual property protection, and fair compensation are paramount.
Accessible through droppPhygital, droppLink leverages multi-chain integration and robust tokenization to bolster data integrity. By melding blockchain technology with artificial intelligence, droppLink establishes an ethical management layer, aiming to reshape the AI landscape by fostering trust, transparency, and innovation.
Source: cryptotimes.io
The post droppGroup Unveils Platform with AI-Blockchain Integration appeared first on HIPTHER Alerts.
-
Blockchain Press Releases3 days agoSwaps Launches Innovative Payment Links for Crypto and Fiat Transactions
-
Blockchain4 days agoRevoluGROUP Canada Inc. Announces Leave of Absence for Chairman Bernard Lonis
-
Blockchain Press Releases3 days ago
Bybit’s Ethereum Euphoria: Predict Market Movements for the ETH ETF and Win
-
Blockchain Press Releases3 days agoOKX, Circle, and Bitrue Among Sponsors of Consensus 2024
-
Blockchain Press Releases3 days ago
Bybit Launches Exclusive P2P Trading Offers for SEA Users
-
Blockchain Press Releases3 days agoBitget Wallet Unveils Bitget Onchain Layer, Rolls Out $10M BWB Ecosystem Fund
-
Blockchain Press Releases4 days agoKuCoin Research Report Reveals: $1 Billion in Financing and Rising Stablecoin Issuance Amid Market Fluctuations
-
Blockchain Press Releases3 days ago
Unleash a Wave of Opportunities this May with Bybit
