Cristiano Ronaldo Introduces 4th NFT Series with Binance Despite $1B Legal Battle

Here are some of the major developments in the world of crypto over the past few days.
Cristiano Ronaldo Introduces 4th NFT Series
Cristiano Ronaldo Introduces 4th NFT Series

Portuguese football superstar Cristiano Ronaldo has announced the launch of his fourth non-fungible token (NFT) collection in partnership with Binance. The collection will launch on 29 May with fixed pricing across most items.

According to a Binance blog post, Cristiano Ronaldo said, "My soccer journey has taken me all over the world and I've had the honor of playing for some of the most prestigious clubs in the world. Now you can join me. It's my turn," he commented. I will accompany you on this journey." However the post did state that the price will be the same for every Normal NFT while pricing for the final Super Rare NFT in the collection will differ.

The plaintiffs in the suit claimed Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance,” and that he should have known that Binance was involved in such activities. The suit against Cristiano Renaldo stemmed from Binance’s previous legal issues culminating in founder Changpeng “CZ” Zhao being found guilty in the U.S. of enabling fraud.

Uniswap Discloses Assets Prior to Fee Mechanism Vote

The Uniswap Foundation announced that it held $41.41 million in fiat currency and stablecoins and 730,000 UNI tokens worth $11.13 at the end of the first quarter. As per Publication, The foundation won $4.34 million in new grants and disbursed $2.79 million in previously committed grants during the same period. Uniswap vote on the new fee mechanism will be held by May 31.

Uniswap Foundation stated that the free switch will be implemented despite the United States Securities Exchange Commission (SEC) Wells notification against the DeFi protocol. The notice, released in April, alleged that the company had violated securities laws. Uniswap Labs argued that under the current legal classification, the SEC does not have jurisdiction to regulate decentralized protocols.

The SEC has been investigating Uniswap Labs, Uniswap's lead developer, since 2021. The decentralized exchange (DEX) previously delisted several tokens from its platform, citing increased regulatory pressure. Back in February, the Uniswap Foundation presented a proposal to introduce a fee reward system that would encourage UNI token holders to participate more actively in governance decisions.

Normie Memecoin Team Considers Hacker Demands Following 99% Token Drop

Base Memecoin Normie (NORMIE) team says it is negotiating with hackers to return 90% of funds stolen due to smart contract vulnerability, resulting in token market cap of USD 41.7 million in less than 3 hours It plummeted. Blockchain analysis firm Lookonchain was one of the companies that first discovered this exploit and the hacker's offer in an on-chain message to his Normie deployment address on May 26th.

Dinho, one of the administrators of the official NORMIE Telegram group, could not confirm when NORMIE token holders would get their stolen funds back. Dinho's X account was also suspended. NORMIE's price began to fall at 3:55 a.m. UTC on May 26th, and has already fallen more than 92% to $0.0032 in one hour.

Apart from the temporary price increase to $0.019, the price continued its downward trend and fell to $0.0016, equivalent to $96 trillion. NORMIE was launched amid a recent memecoin mania on Base in March 2024, reaching a peak market cap of $130 million back on April 2. A recent investigation found 91% of Base memecoins have vulnerabilities that could expose users to big losses, according to cointelegraph.

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