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    Sotheby’s and Yuga Labs respond to lawsuit from Bored Ape investors

    On Dec. 10, 2022, BAYC investors filed a class-action lawsuit against over 40 defendants, including Yuga Labs and celebrities like Post Malone, Justin Beiber and Paris Hilton. The lawsuit alleged that Yuga Labs and the celebrities were able to “artificially increase” the prices of the NFTs through celebrity promotions. Continue Reading on Coin Telegraph More

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    Bitcoin slips after Fed minutes flag potential future interest rate hikes

    At 06:53 ET (10:53 GMT), the most popular cryptocurrency had fallen by 2.13% to $28,540. It had earlier slipped below $28,500, but recovered some of the losses to remain above the threshold.Elsewhere, Ether dipped below the $1,800 mark, while smaller altcoins like Dogecoin and Solana also decreased.The record from the Fed’s July gathering showed that policymakers were divided over whether future borrowing cost increases were required to tamp down inflation. Even still, the prospect of more rate hikes by the Fed has lifted yields on United States 10-Year Treasuries to their highest in 10 months, placing pressure on riskier assets like digital tokens and equities.Policymakers are widely tipped to back away from additional rate increases at the Fed’s upcoming meeting in September. According to Investing.com’s Fed Rate Monitor Tool, there is an 88% chance that the U.S. central bank keeps the benchmark fed funds rate steady at a range of 5.25% to 5.50%. More

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    Ripple Labs bites back against SEC’s request to file appeal

    In an Aug. 16 letter to Torres of the Southern District of New York, Ripple’s lawyers explained that because the Securities and Exchange Commission failed to satisfy elements of the Howey test relating to Ripple’s distribution of XRP — a “legal question” — the court should reject the SEC’s motion for leave to file an interlocutory appeal.Continue Reading on Coin Telegraph More