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Crypto
Binance sues Wall Street Journal for defamation, focusing on protecting user trust
Binance has filed a defamation lawsuit in New York against Dow Jones, the publisher of the Wall Street Journal. It claims a February WSJ report contained at least 11 false statements. The WSJ reported Binance fired staff who raised concerns over more than $1 billion in crypto transactions linked to Iran-related sanctioned entities. The case draws attention because New York has strong media protections and anti-SLAPP rules, raising the burden for a defamation claim.
Crypto
Crypto unicorns see market value plunge after listing, some down as much as 99%
Major crypto projects valued at more than $1 billion in private investment rounds have seen their market capitalisation plunge after listing, with some down more than 99 percent, an analysis showed. Data cited by BeInCrypto showed 10 projects now have market caps of $7 million to $294 million, down 88 percent to more than 99 percent from their last venture valuations. Scroll recorded the biggest fall, while Starknet saw the largest loss by value.
Crypto
Decentralised social network Bluesky raises $100 million in Series B funding
Decentralised social network Bluesky has raised $100 million in a Series B funding round, The Block Crypto reported on Thursday. Bain Capital Crypto led the investment, with Alumni Ventures, Antos Capital, Bloomberg Beta, Knight Foundation and True Ventures participating. Bluesky said it has used funds over the past year to expand its team and build infrastructure. It also reported user growth and outlined leadership changes and features of its AT Protocol.