- Robinhood receives a Wells Notice from the SEC, indicating a potential enforcement action due to alleged violations of the Securities Exchange Act of 1934.
- The Shiba Inu community burns over 81 million SHIB tokens, pushing the burn rate up by 4,085.94% in 24 hours.
- Cardano records 90 million transactions, a significant milestone, as it prepares for network upgrades.
Robinhood faces potential SEC enforcement action, Shiba Inu’s burn rate soars, and Cardano hits a major transaction milestone. Stay updated with the latest crypto news.
SEC Sends Wells Notice to Robinhood
Robinhood, the popular trading platform, has received a Wells Notice from the Securities and Exchange Commission (SEC). The notice, issued on May 4, indicates a “preliminary determination” by the SEC staff to recommend enforcement action against Robinhood. The platform is alleged to have violated Sections 15(a) and 17A of the Securities Exchange Act of 1934, suggesting that Robinhood offers its customers crypto assets classified as unregistered securities by the SEC. This is not Robinhood’s first encounter with the SEC; in December 2022, the platform received an investigative subpoena from the SEC regarding its cryptocurrency listings and overall operations.
Shiba Inu Burns 81 Million SHIB Tokens
Shiba Inu enthusiasts have managed to burn more than 81 million SHIB tokens, according to data from the Shibburn tracker. This action has resulted in a 4,085.94% increase in the burn rate over 24 hours, reducing the number of SHIB tokens in circulation. Despite the significant number of burned tokens, the impact on the token’s price is minimal due to the relatively low value of the burned tokens. However, the surge in Shiba Inu’s burn rate has boosted optimism within the community, particularly regarding the potential impact of the upcoming SHIB burn portal.
Cardano Records 90 Million Transactions
Cardano has reached a significant milestone, recording 90 million transactions on its network. This achievement highlights Cardano’s growing adoption and utility, as well as its ability to support a diverse range of use cases and transaction types. The milestone comes as Cardano prepares for network upgrades, including the deployment of Ouroboros Genesis as part of the upcoming Chang upgrade. This upgrade will enable nodes to self-bootstrap from the Cardano network, marking a significant step towards complete P2P node operations. Additional updates, including improvements to Plutus, Cardano’s smart contract platform, may also be on the horizon.
Conclusion
These developments highlight the dynamic and rapidly evolving nature of the crypto market. As Robinhood navigates regulatory challenges, Shiba Inu’s community continues to drive token burns, and Cardano hits transaction milestones ahead of significant network upgrades. These events underscore the importance of staying informed in this fast-paced industry.
