• Written by: Rudy Fares
• Wed, 12 Oct 2022
•   Germany

Crypto News Alert: Celsius scandal is out, SEC is after Yuga Labs and a hype about Google displaying ETH wallets in results.

Crypto News Alerts: Celsius and Yuga Labs in Trouble, ETH wallets on Google?

As the crypto market continues to consolidate, people on the internet continue to share news that might be fake or simply not true. The Celsius scandal is out, the SEC is following Yuga Labs and a new hype about Google displaying ETH wallets in results. Is the latter true? Let’s check it all out in this Crypto News Alert

Why Crypto Market is Down Today?

In a previous article, we spoke about 3 main reasons for the decline of cryptocurrencies. Additionally, consolidation phases mean that when prices near the resistance areas, they tend to fall back down. This is exactly the case for most cryptocurrencies. Bitcoin for example just breached the $20K price mark after managing to breach it higher previously. Ethereum also managed to climb higher than $1.35K, but is currently closer to $1.2K.

Day traders are the bet winners in such market conditions, as they set their trade parameters between clearly defined support and resistance areas.

Top 3 Crypto News Alerts

Celsius Crypto News – More trouble ahead?

Jacob Benjamin Fite, a guy, is at the top of the list with losses of $40,468,920.35. With $38.1 million, Hirokado Kohji comes in second, losing $26.4 million and $21.4 million, respectively, to Russell Garth Stewart and Keri David Taiaroa. Each of the top 10 Celsius clients had a balance of tens of millions of dollars, and as a group, they lost $220 million.

This information was out thanks to a memo that was leaked during the filing that contained information of all the users on the platform…thanks, US legal system!

Yuga Labs Crypto News – SEC Problems?

It looks like the SEC is just targeting crypto projects! After Ripple, the U.S. Securities and Exchange Commission is looking into Yuga Labs, the company behind the Bored Ape Yacht Club NFT collection, to see if sales of its digital assets are illegal under federal law.

The question is whether certain of Yuga’s non-fungible tokens are more comparable to stocks and should thus adhere to the same disclosure regulations. According to Bloomberg, the main legal issue at the heart of the investigation is whether NFTs are securities. The SEC has apparently been looking into this issue since March. Let’s see how this will affect APE token prices. Well, they fell by more than 7% in the past day alone.

Is Google showing ETH Address balances?