Tesla and X owner Elon Musk has triggered a once-in-a-while parabolic rally for frog-themed memecoin, Kekius Maximus (KEKIUS). This token was created by the billionaire’s followers, who generally track his profile changes on social media platforms. The token was created last year when the Tesla founder first changed his X profile name to Kekius Maximus. This action generally fuels a rapid price breakout for associated tokens. The Elon Musk and Kekius Maximus Link After months, he changed the profile name, the billionaire once again reinstated it, a move many considered a shoutout for the memecoin. Notably, different token variants were created the first time Elon Musk updated his profile photo with the name. One of the variants with the biggest liquidity is KEKIUS. According to data from CoinMarketCap, this token has jumped by 119% in 24 hours to $0.0502. This surge is unusual, as the token maintained an average price… Read More at Coingape.com
Freight Technologies Inc., a cross-border transportation logistics company, announced that it’s offering $20 million in stock to purchase TRUMP meme coins for a MicroStrategy-style treasury.
The company’s justification for this move has almost nothing to do with TRUMP or crypto. Instead, it focuses on impending US-Mexico tariffs, which could substantially impact the company’s operations.
Freight Technologies’ recent decision to make a $20 million TRUMP Treasury is fueling these concerns.
Specifically, Freight’s press release sheds light on why it would invest $20 million in TRUMP. It briefly discusses the firm’s interest in AI and Web3 developments and discusses how Freight will organize these purchases.
“At the heart of [our] mission is the promotion of productive and active commerce between the United States and Mexico. Mexico is the United States’ top goods trading partner. We believe that the addition of the Official TRUMP tokens [is] an effective way to advocate for fair, balanced, and free trade between Mexico and the US,” CEO Javier Selgas claimed.
Freight Technologies is heavily involved with cross-border shipping with Mexico; its AI experiments are concerned with optimizing this trade.
In short, a trade war with the US’s southern neighbor could substantially damage the company’s ability to continue functioning. However, President Trump has already approved several tariff carve-outs for specific companies.
To be clear, Freight’s statement did not explicitly appeal to Trump for such a carve-out. However, reports have alleged that several crypto companies received direct or indirect legal benefits from donating to his Inauguration.
According to Fortune, some firms obtained this after donations as low as $100,000. Would $20 million attract his attention?
It’s difficult to make concrete claims, but Freight’s behavior around the TRUMP deal seems unusual. Nearly all of its reasoning for this purchase revolves around trade relations between the US and Mexico.
The firm’s press release briefly calls TRUMP an “excellent way to diversify our crypto treasury,” but this is its only non-tariff justification.
Still, if Freight attempts to petition the President, it may want the Mexico tariffs removed outright. Nothing suggests that it wants a carve-out while the tariffs remain.
In any event, this TRUMP purchase may backfire for Freight’s stock price. The company first published this press release on April 30, but it began circulating through crypto-centric social media on the afternoon of May 1.
As the news spread in these circles, Freight Technologies’ stock fell by over 20%.
Freight Technologies Stock Price. Source: Google Finance
Moving forward, it’ll be important to keep an eye on this story. Companies have begun creating MicroStrategy-style plans for assets like Solana. While Freight Technologies is the first to do it with TRUMP, it may not be the last.
The U.S. SEC’s Crypto Task Force is gearing up for a series of four roundtable discussions. The Task Force will host four roundtable discussions, exploring topics like tokenization and decentralized finance (DeFi). These talks will bring together experts to discuss the future of digital finance.
The roundtables, running from April to June, are part of the SEC’s ongoing effort to establish clearer and more effective rules for the crypto industry.
SEC Kicks Off ‘Spring Sprint Toward Crypto Clarity’
The first roundtable of the Crypto Task Force marked the beginning of the SEC’s effort to bring more clarity to cryptocurrency rules, which Commissioner Hester Peirce called the “Spring Sprint Toward Crypto Clarity.” The event, held last Friday in Washington, D.C., brought together crypto lawyers to discuss whether tokens should be considered securities.
At the roundtable, Miles Jennings, a16z crypto’s general counsel, criticized the SEC’s past approach to crypto, saying it failed to protect investors, support capital formation, or create efficient markets.
“The Crypto Task Force roundtables are an opportunity for us to hear a lively discussion among experts about what the regulatory issues are and what the Commission can do to solve them,” Peirce noted in a Tuesday announcement.
Key Topics For Upcoming SEC Roundtables-
The next roundtable, “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading,” is all set to be held on April 11. Other topics will include crypto custody (April 25), tokenization (May 12), and decentralized finance (June 6). All events will be held in Washington, D.C., and livestreamed.
The Crypto Task Force, launched on January 21 by Acting SEC Chairman Mark T. Uyeda, was created to help the SEC set clear rules, offer practical paths for registration, build effective disclosure frameworks, and use enforcement resources wisely.
Furthermore, the SEC is also exploring how it could “provide some kind of framework or some kind of markers” to craft rules for NFTs as an asset category. This comes after the SEC announced last Thursday that crypto mining doesn’t violate securities laws.
Meanwhile, Paul Atkins, nominated by Trump to be the new SEC chair, will have his Senate hearing on Thursday. A former SEC commissioner from 2002 to 2008, Atkins is also a supporter of crypto.
The post SEC’s Crypto Task Force Announces 4 Key Roundtables on DeFi, Tokenization, and More appeared first on Coinpedia Fintech News
The U.S. SEC’s Crypto Task Force is gearing up for a series of four roundtable discussions. The Task Force will host four roundtable discussions, exploring topics like tokenization and decentralized finance (DeFi). These talks will bring together experts to discuss the future of digital finance. The roundtables, running from April to June, are part of …
The EOS blockchain is currently under attack by malicious actors employing an address-poisoning scheme.
In an address poisoning attack, exploiters create and send small transactions (often with negligible amounts like 0.001 tokens) using fake wallet addresses that closely resemble legitimate ones. The goal is to trick users into mistakenly copying and pasting the fraudulent address when making future transactions.
EOS Blockchain Users Suffers Address Poisoning Attack
Blockchain security firm SlowMist revealed that attackers are sending users small transactions of 0.001 EOS to trick them into sending funds to fraudulent addresses.
“Beware of address poisoning attacks on EOS! Malicious accounts are sending 0.001 EOS to users to poison addresses,” SlowMist revealed.
According to SlowMist, the attackers create accounts that closely resemble those of legitimate trading platforms. Specifically, “oktothemoon” to impersonate OKX exchange (real account: “okbtothemoon”) and “binanecleos” to impersonate Binance exchange (real account: “binancecleos”).
These subtle alterations can easily mislead users who fail to scrutinize the transaction details closely. Blockchain-focused X (Twitter) accounts warn users about the risks associated with this attack.
“Careful all….. Bad actors out there,” Blockchain-focused X account remarked.
WuBlockchain confirmed the ongoing attack, highlighting the impersonation tactics. AVA, an AI-driven social app, acknowledged the attack. However, it expressed confidence in the crypto ecosystem’s resilience, encouraging users to remain vigilant and focus on security.
Notably, address poisoning attacks are not new to the crypto space. Recently, Binance issued a global alert over clipper malware that alters crypto wallet addresses. Similarly, a Bitcoin trader sent $70 million to the wrong address last May.
Therefore, the resurgence of this scheme on EOS highlights ongoing security challenges in blockchain ecosystems. These attacks rely on tricking users into copying and pasting fraudulent addresses from their transaction histories, leading to unauthorized fund transfers.
Given the deceptive nature of these scams, users are advised always to double-check wallet addresses. It is also imperative to avoid relying solely on past transaction records when making transfers.
Meanwhile, this incident comes barely 24 hours after another major security breach in the crypto space. BNB Chain’s meme token launchpad, four.meme suffered a critical exploit, leading to significant financial losses.
The back-to-back security incidents reflect the growing sophistication of blockchain exploits. This incident also highlights the urgent need for enhanced security measures across all networks.
Meanwhile, BeInCrypto data shows that the EOS price was trading at $0.65 as of this writing. This represents a surge of nearly 32% over the last 24 hours.
