SEC Tracks Justin Sun

Alpha Team
April 19, 2024

🔍 SEC Highlights Sun's U.S. Travels

Extent of U.S. Travel: The SEC's refiled lawsuit against Justin Sun points to his extensive travel in the U.S. as part of its jurisdiction claim, alleging these visits helped further unregistered securities sales. The lawsuit, refiled on March 22, 2023, emphasizes Sun's personal and business activities within the U.S.

Jurisdiction and Legal Strategy: Justin Sun's frequent U.S. visits are central to the SEC's argument that U.S. securities laws apply, despite Tron's claim that its activities are predominantly foreign. The case details released in March 2023 outline the SEC's stance on applying domestic laws to foreign entities based on U.S. connections.

Impact on Tron's Operations: Sun's travel habits may influence the legal outcome and affect Tron's operations in the U.S. and globally. The ongoing legal challenge could shape future U.S. regulatory approaches to international crypto activities. Read More.

️ On today's Top Picks:

🎉 RISC Zero opens its Trusted Setup Ceremony.
🪂 Avail launches $AVAIL Unification Drop.
💰 Michael Saylor sells ~$370M of MicroStrategy shares.
👾 Hedgey Finance exploited for ~$40+M.

Read time: ⏰ 6 minutes

Crypto News

• ⭐️ US SEC argues Justin Sun traveled extensively in the US demonstrating jurisdiction.

• US IRS releases draft form for brokers and exchanges to report digital assets.

• Binance converts SAFU assets to $USDC citing reliability & stability.

• Binance to potentially re-enter India amid license approval from Dubai’s virtual asset regulator.

• Binance Executives' trial postponed to May 17th by Nigerian court.

• Tether announces plan to reorganize into four new divisions.

• Tether launches $USDT & $XAUT on The Open Network $TON.

• Aptos Labs partners with Microsoft, Brevan Howard, & SK Telecom to build Aptos Ascend.

Alpha

• What’s In My Bag #2 💎 ($weETH) by Opal.

• Opal, the next DeFi giant by Finish.

• Mezo launches The Doubling campaign with 2x boosts on HODL scores.

• Mezo raffles Mezo POAPs for Threshold Network $T holders.

• Puffer Finance launches Mainnet Rush campaign with 5x Puffer Points & EigenLayer Points.

• ⭐️ RISC Zero opens its Trusted Setup Ceremony to the community.

Airdrops

• Evo Exchange Airdrop Strategy by Earndrop.

• ⭐️ Avail launches $AVAIL Unification Drop for developers, contributors, users, & stakers.

• Binance introduces Binance Megadrop, a new token launch platform with airdrops & quests.

• ICYMI Mode Airdrop Strategy by Earndrop.

• Six Bridges For Potential Airdrop by Airdrop Official.

Finance News

• ⭐️ Michael Saylor sells ~$370M of MicroStrategy $MSTR shares.

• Tesla $TSLA shareholders to vote on re-ratifying court-voided $40B pay package.

• Tesla $TSLA recalls Cybertruck due to accelerator pedal issue.

• UBS plans next round of layoffs in Credit Suisse integration.

Security and Exploits

• ⭐️ Hedgey Finance exploited for ~$40+M due to token claims contract vulnerability.

• Security Alliance launches SEAL-ISAC, an organization that facilitates threat intel sharing.

• Cisco warns of surge in brute-force attacks targeting VPNs, web applications, & SSH services.

Token Unlocks

• Space ID / 18.49M $ID / ~$13.6M / APR 21

Funding

• Centrifuge, a platform for onchain finance; raises $15M in Series A funding led by Greenfield Capital & ParaFi Capital.

• Superlogic, an enterprise-grade loyalty platform; raises $7.6M in Strategic funding.

• Thruster, a DEX layer on Blast; raises $7.5M in Seed funding led by Pantera Capital.

• Nebra, a shared settlement layer; raises $4.5M in Pre-Seed & Seed funding led by Nascent & Bankless Ventures.

• Runes DEX, an AMM on Runes; raises $2M in Seed funding.

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PROTOCOL	ASSETS	APY
Merkle Trade (Aptos)	ZUSDC	149.15%
Avantis (Base)	USDC	117.18%
Aerodrome (Base)	USDCSTAR	59.43%
Morpho Blue (Ethereum)	USDEUSDT	55.37%
fx Protocol (Ethereum)	DOLAFXUSD	54.38%
Extra Finance (Base)	WUSDRUSDBC	51.83%
Blast Futures (Blast)	USDB	47.20%
Cetus (Sui)	USDYUSDC	46.67%