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A federal appeals court recently overturned an SEC rule that would have required hedge funds and private equity firms to disclose more information about their fees, expenses, and performance. The court ruling on June 5th rejected the extensive 656-page regulation, stating that the SEC had overreached its authority.
In another crypto news development, many celebrity-endorsed cryptocurrencies have experienced significant drops in value, with tokens like “JENNER,” “DAVIDO,” “RICH,” and others losing over 66% of their value. However, Iggy Azalea’s token, “MOTHER,” defied the trend by reaching an all-time high market cap of $134 million.
McDonald’s has launched a unique virtual experience called “My Happy Place” in Singapore, allowing customers to create virtual burgers, play games, and earn rewards using crypto wallets like MetaMask. The fast-food giant will monitor the success of this metaverse project for potential expansion.
In other news, a promoter behind the Forcount cryptocurrency “Ponzi” scheme has pleaded guilty to federal wire fraud conspiracy charges, facing up to 20 years in prison. Additionally, the crypto advocacy group Stand With Crypto has surpassed 1 million members, aiming to influence policymakers and advocate for crypto-friendly regulations. Stay informed with CoinChapter for more crypto news and insights.
