Alchemy has gained substantial momentum during its closed beta phase—and according to the company, it now provides infrastructure and tools for 70% of top Ethereum applications. The platform is also a big player in the decentralized finance space, and said its technology supports 60% of the total assets locked in DeFi protocols, an estimated $2.8 billion.
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The Federal District Court for the Southern District of New York will see 11 crypto firms sued for ICOs (Photo: uscourts.gov)Crypto faces ‘The man who took on Wall Street’
On the day before the statute of limitations expired, the lawyer who extracted $25 billion from banks over the subprime mortgage crisis sued 11 cryptocurrency firms for holding illegal ICOs
Eleven cryptocurrency issuers and exchanges including Tron, Block.one, and Binance were hit with class action lawsuits last week for holding or supporting initial coin offerings. Ominously, they were filed by a group of lawyers led by Philippe Selendy, who the Financial Times called “The man who took on Wall Street” after he forced 16 major banks including Citigroup, Goldman Sachs, and JPMorgan Chase to pay $25 billion for their part in the subprime mortgage crisis that sparked the Great Recession of 2007.