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  • ‘Probably hostile alien risk’ 3I/ATLAS carries ‘key’ substance for all times



    Mysterious comet 3I/ATLAS continues to baffle the world’s brightest boffins – and the most recent improvement has solely fuelled theories that it is alien-related.

    It has been beneath fixed scrutiny because it was first noticed in July, as its sheer existence is a fairly big deal.

    3I/ATLAS is simply the third interstellar object from outdoors our photo voltaic system ‘to be found passing by means of our celestial neighbourhood’, in line with NASA.

    And though the US area company insists it ‘poses no risk to Earth and can stay far-off’, different specialists reckon that we won’t rule out the potential for one thing stranger being afoot.

    Harvard physicist Avi Loeb has been spearheading this argument and beforehand advised there’s a 30 to 40 % probability that the comet was not a ‘naturally shaped’ object and will probably have ‘energetic intelligence’.

    The primary picture obtained of 3I/ATLAS when it was found again in July (NASA)

    Loeb instructed LADbible that he had seen qualities concerning the interstellar object which ‘might be associated to an influence provide that isn’t pure, that’s technological in origin, some form of an engine’.

    It is uncommon behaviour over the previous few months – equivalent to 3I/ATLAS rising a tail and an anti-tail and astronomers detecting a ‘radio sign’ from it – has solely added gas to the fireplace.

    Different weird attributes embrace its strange colour, in addition to its sudden change in trajectory and velocity – whereas earlier this week, we had been knowledgeable that 3I/ATLAS additionally has a ‘heartbeat’.

    Loeb has claimed that 3I/ATLAS has been seen dimming itself earlier than brightening, like a pulse.

    He believes that the comet has jets pulsing out of it at intervals of 16.16 hours, which he reckons might be an indication that an alien propulsion system is attempting to steer the thing. Psychological.

    And now, a NASA astrochemist has revealed that it’s leaving a path of carbon-rich chemical compounds in its wake – that are key elements to create life.

    Dr Martin Cordiner and his crew on the Goddard House Flight Middle made an attention-grabbing commentary after scanning the interstellar object with a ridiculously highly effective radio telescope often called the Atacama Massive Millimeter/submillimeter Array (ALMA).

    The specialists found that 3I/ATLAS is pumping out a big quantity of hydrogen cyanide gasoline, and a good better quantity of gaseous methanol.

    Scientists nonetheless have not acquired to the underside of the origin of the interstellar object (NASA)

    Explaining the importance of their findings, Cordiner told New Scientist: “Molecules like hydrogen cyanide and methanol are at hint abundances and never the dominant constituents of our personal comets.

    “Right here we see that, truly, on this alien comet they’re very considerable.”

    He mentioned that these elements are important on the subject of creating life, noting that the comet is spewing out round 1 / 4 to a half a kilogram per second of hydrogen cyanide and a whopping 40 kilograms per second of methanol… which is much more than what’s thought-about regular for comets in our photo voltaic system.

    Cordiner reckons that this excessive charge of manufacturing might be right down to different chemical reactions going down, which consequence within the formation of those molecules.

    “It appears actually chemically implausible that you could possibly go on a path to very excessive chemical complexity with out producing methanol,” he added.

    The presence of the chemical compounds as soon as once more means that 3I/ATLAS isn’t any bizarre object – and also you by no means know, Loeb’s hunch may be proper.

  • After $Bn crypto plunge, BTC and XRP lead market recovery with $600M

    After $Bn crypto plunge, BTC and XRP lead market recovery with $600M



    • Inflows into digital asset ETPs reached $716 million, with BTC and XRP alone accounting for nearly $600 million.
    • ProShares led the movement, while BlackRock’s iShares drained around $105 million.

    A current one Message by James Butterfill, head of research at European digital asset manager CoinShares, crypto exchange-traded products (ETPs) recorded $716 million in new inflows last week, following $1 billion inflows the previous week. Butterfill noted that while there were small outflows on Thursday and Friday, they appeared to be in response to U.S. economic data that signaled continued inflation pressures.

    Overall, digital investment products saw strong momentum, with recent inflows pushing total assets under management to $180.5 billion, up 8% from November lows, after four weeks of $5.5 billion in outflows.

    Bitcoin and ProShares dominate the inflows

    Bitcoin-led ETPs were the biggest beneficiaries last week, recording $352 million in inflows, while year-to-date inflows total over $27 billion and assets under management exceed $140 billion.

    Ethereum (ETH) funds have invested over $12.9 billion so far this year, including modest inflows of $39 million. While XRP, the fourth-largest token by market cap, saw a significant increase in interest with weekly inflows of $244.7 million, Chainlink (LINK) recorded weekly inflows of $52.8 million, representing 54% of its total AUM.

    US-based ProShares led all issuers with weekly inflows of $210 million. Meanwhile, BlackRock’s iShares ETFs, which have quickly become one of the most influential forces in the ETP space, saw modest outflows of $105 million.

    Despite the decline, iShares is still the largest asset under management in the sector, with more than $80 billion. Grayscale Investments saw another $7 million in outflows this week, bringing year-to-date outflows to more than $3 billion.

    Issuers based in the USA had a more positive development. Fidelity’s Wise Origin Bitcoin Fund had $62 million in inflows, and Bitwise Funds Trust recorded another $14 million.

    Most regions showed strong interest in digital investment products, with the US recording $483 million in inflows, followed by Germany with $97 million and Canada with $80.7 million. Sweden was the biggest outlier, recording outflows of $5.6 million, bringing the year-to-date total to $836 million – the highest net outflow of any region this year.

    Bitcoin itself is over 91.770 $ traded, supported by one 67% increase in sales $56 billion, while options activity with a almost 300% increase to $3.52 billionexploded.

    Ethereum followed the price movement of BTC and is over 3.100 $ traded, where the total turnover of derivatives is around 115.97% to 84.99 Billion $ and the open interest by 4.57% to 38.37 billion has risen.

  • Kate Winslet points ‘terrifying’ warning over what weight reduction drug customers ‘are placing of their our bodies’



    Kate Winslet has refused to get caught up within the weight reduction jab craze – and she or he reckons that the development is completely ‘terrifying’.

    The Oscar-winning actress shared her concern for individuals who have turned to GLP-1 drugs to assist shed some kilos.

    The truth is, she’s not a fan of injecting any kind of substance into the human physique that supposedly enhances your look, as fillers and Botox are additionally an enormous no-no within the eyes of the Studying-born star.

    Winslet spoke of her disappointment that individuals have ‘grow to be obsessive about chasing an concept of perfection to get extra likes on Instagram’, telling The Sunday Instances: “It upsets me a lot.”

    She believes that rising previous gracefully – and never having an entire ‘disregard for one’s well being’ – is the way in which to go as an alternative.

    Kate Winslet reckons that individuals ought to ‘be themselves’ moderately than following magnificence developments (Jo Hale/Getty Photos)

    Sharing her ideas on the meteoric rise of weight reduction jabs, the 50-year-old mentioned: “It’s devastating. If an individual’s vanity is so certain up in how they appear, it’s horrifying.

    “And it’s puzzling as a result of I’ve moments once I assume it’s higher, once I take a look at actresses at occasions dressed how they need, whichever form – however then so many individuals are on weight-loss medicine.

    “It’s so diversified. Some are making decisions to be themselves, others do all the things they will to not be themselves.

    “And do they know what they’re placing in? The disregard for one’s well being is terrifying. It bothers me now greater than ever. It’s f***ing chaos on the market.”

    Individuals ‘who save up for Botox or the s**t they put of their lips’ had been subsequent on Winslet’s hit record, as she believes that lately, ‘younger ladies don’t have any idea of what being lovely truly is’.

    She continued: “Oh, it’s terrifying. “I believe ‘No, not you! Why?’ However I really feel like no person cares any extra.

    “Nobody’s listening as a result of they’ve grow to be obsessive about chasing an concept of perfection to get extra likes on Instagram. It upsets me a lot.”

    Winslet urged folks to ‘preserve being actual’ moderately than falling into the lure of following developments.

    She added: “What concept of perfection are folks aspiring to? I blame social media and its impact on psychological well being.”

    The actress, 50, additionally addressed the ‘relentless bullying’ she suffered after starring in Titanic (Paramount Footage)

    Based on the Medicines and Healthcare merchandise Regulatory Company (MHRA), quite a few GLP-1 medicine are licensed to be used within the UK, together with semaglutide (Wegovy, Ozempic and Rybelsus), tirzepatide (Mounjaro) and liraglutide (offered underneath numerous model names).

    The federal government physique explains: “‘Licensed’ means they’ve been assessed fastidiously by the UK medicines regulator, the Medicines and Healthcare merchandise Regulatory Company (MHRA), and accepted as secure and efficient for sure makes use of.”

    Although the MHRA went on to notice that ‘it has not assessed the security and effectiveness of those medicines when used exterior of their licensed use, for instance when used for weight reduction in people who find themselves not overweight or chubby’.

    Through the interview, Winslet additionally touched on how she was ‘singled out for relentless bullying’ by the media throughout her rise to fame, which got here after she starred in 1997’s Titanic alongside Leonardo DiCaprio on the age of twenty-two.

    “I wasn’t able to be a well-known actress,” Winslet mentioned. I used to be so younger, however I felt so invaded. Nothing was good. Individuals climbed into my backyard. I couldn’t go to a store.

    “I used to be adopted once I had a child at the back of the automobile on my solution to the paediatrician. It’s irregular.”

    And whereas she was sharing her frustrations, Winslet additionally mentioned she thinks it’s ‘heartbreaking’ that everybody is glued to their telephones all the time – though it permits an A-lister like her to make use of the Tube with out inflicting a fuss.

    “No one’s wanting into the f***ing world any extra,” Winslet fumed.

  • Shiba Inu veteran has recommendation for SHIB return to old strength

    Shiba Inu veteran has recommendation for SHIB return to old strength



    • Zach Humphries, Shiba-Inu supporter from the very beginning, outlines measures to restore Shiba-Inu’s old dynamics.
    • He is pushing for the memecoin to focus more on SHIB to readjust to retail cycles.

    Shiba Inu is still on its long-term downward trend, but Zach Humphries, an early supporter, is of the opinionthat the token can still have a realistic path to success. He has drawn up a list of structural changes that he believes must take place before SHIB can regain the strength it enjoyed during its explosive 2021 cycle.

    System expansion had Shiba-Inus Core identity diluted

    Humphries says that with SHIB there has been a distortion of the original system. Since the SHIB initiative launched in August 2020, several projects have joined it: Shibarium, ShibaSwap, Metaverse, BONE, LEASH, TREAT and several NFTs.

    Today, Humphries believes that branching the system into too many individual products led to a decline in trust. The basic requirements for SHIB adoption in retail no longer seem clear. Humphries believes that SHIB remains among the top 25 cryptocurrencies as it trades just 90% below its ATH.

    A price level of $0.000044 could attract more investors because it would be a big relief for the current traders.

    SHIB Renaissance depends on convincing planning

    Humphries sees retail participation as key to a successful recovery. He points out that memecoins typically perform well when a new investor base emerges with access to cheap assets.

    He also advocates for a simple, straightforward plan. The current path is too complicated, such as simultaneous work in the metaverse, games, a DEX, L2 scaling and new token models. that seems to go against the wishes of the SHIB owners.

  • James Acaster discovered associate left him for ‘Mr Bean’ regardless of 25-year age hole



    James Acaster beforehand joked he was a ‘goddam saint’ for sitting on the actual fact his spouse ‘left him for Mr Bean’, as he opened up on how he discovered about their relationship.

    Acaster has drawn headlines after a latest look on Saturday Kitchen went viral as he destroyed the set. Acaster, finest recognized for the

    podcast Off Menu, went viral after his comedic overreaction to shedding a public ballot to his co-host Ed Gamble, destroying the set within the course of.

    Previous to this, many who aren’t followers of Off Menu or Taskmaster could know Acaster for one more way more unlucky manner, for having revealed in a stand-up particular that went equally viral on social media that his girlfriend had ‘left him for Mr Bean’.

    Acaster made the connection revelation in his 2019 stand-up TV particular Chilly Lasagne Hate Myself 1999.

    Throughout this, Acaster spoke about earlier failed relationships he had, together with alluding to a girlfriend he dated in 2013, Louise Ford.

    The comic revealed that Ford on the time had been solid in a West Finish play and that, whereas he was comfortable for her, he felt that they had change into extra distant from one another.

    

    Acaster said that, as a result of his poor psychological well being, he started ‘plucking issues out of skinny air’, together with that she had fallen in love with Rowan Atkinson whom she was starring within the play with.

    The comic stated that he didn’t discover out till ‘a yr later’, saying: “I discovered a yr after we cut up up. I opened the newspaper and there’s a photograph of the 2 of them strolling arm in arm down the road collectively and a full story about how they have been a pair now.

    “It was the primary time in my entire life once I’ve found why somebody left me with none interval of mourning in any way, simply instantly gone ‘properly that’s f*cking hilarious’.”

    Acaster spoke about it in his 2019 comedy particular (James Acaster/Vimeo)

    Regardless of with the ability to recognise the humour in his girlfriend leaving him for Mr Bean actor Atkinson, who was over 25 years older than her, he said that he had sat on the information for six years partially because of the truth they’re a ‘nice couple’, and he and Ford weren’t.

    Acaster reiterated in his routine that it was not supposed to be construed as him criticising both Atkinson or Ford; nonetheless, he said: “I am a goddam saint to have stored this within the again pocket so lengthy.

    “It is my job to say issues which are humorous, and the funniest factor that is ever occurred to anybody occurred to me, and I put it on the again burner out of respect.

    Rowan Atkinson and Louise Ford in Quartermaine’s Phrases (robbie jack/Corbis through Getty Pictures)

    “Till you get left for Mr Bean, you do not realise how steadily he pops up.

    “There is a store two streets from my home that sells masks of his face.

    “There’s nowhere the place I will go that he isn’t there.”

    He said that as a result of Atkinson’s success, it’s unattainable to not discover his billboards and face all over the place.

    That is mockingly very true within the week Acaster has gone viral, with Atkinson’s new Netflix sequence Man vs Child releasing later this week.

  • Dame Judi Dench makes Harvey Weinstein feedback as she says former good friend has ‘accomplished his time’



    Dame Judi Dench has made a uncommon remark about her former friendship with disgraced movie producer Harvey Weinstein.

    The beloved British display screen star, who turns 91 tomorrow (9 December), stated that she believes that the convicted intercourse offender has now ‘accomplished his time’.

    5 years in the past, Weinstein was jailed for 23 years after being convicted of rape and sexual assault in New York. Nonetheless, this conviction was later overturned on the premise that he did not obtain a good trial.

    He was then discovered responsible on one depend of sexual assault after a retrial, which occurred earlier this 12 months. Weinstein is ready to face trial as soon as once more subsequent 12 months in relation to a different sexual assault cost.

    The film mogul, 73, was additionally sentenced to 16 years behind bars for rape in relation to a case which was tried in California.

    Dame Judi Dench beforehand credited Harvey Weinstein with launching her movie profession (Gregory P. Mango-Pool/Getty Pictures)

    After the #MeToo motion uncovered his reign of terror in Hollywood, many well-known faces – together with Dench – denounced his actions.

    In wake of the surprising slew of allegations towards Weinstein coming to gentle, the James Bond star stated on the time: “While there isn’t a doubt that Harvey Weinstein has helped and championed my movie profession for the previous 20 years, I used to be fully unaware of those offences that are, after all, horrifying and I provide my sympathy to those that have suffered, and wholehearted help to those that have spoken out.”

    She beforehand credited the intercourse offender with launching her cinematic profession, saying that she ‘owed an important deal to’ Weinstein.

    The pair collaborated on plenty of tasks collectively, together with the 1998 movie Shakespeare in Love and 2013’s Philomena, earlier than his dramatic fall from grace.

    She has spoken out about her former friendship with the disgraced movie producer (Stuart C. Wilson/Getty Pictures for BFI)

    In 2014, Dench, who as soon as jokingly inked his title on her buttocks, told the Hollywood Reporter of Weinstein: “It’s because of him that I’ve acquired a movie profession.”

    The actress has now addressed the place she stands together with her former good friend in a brand new interview with the Radio Instances.

    She told the publication: “I noticed a little bit of movie of Harvey strolling with two sticks and also you assume, ‘Nicely…’

    “I knew Harvey and I knew him properly and labored with him, and I had none of that have – very luckily for me.

    “I think about he is accomplished his time…I do not know, to me, it is private – forgiveness. I simply assume…”

    The actress, pictured with Kevin Spacey in 2015, additionally stated she nonetheless stays in contact with the Home of Playing cards actor (David M. Benett/Getty Pictures)

    The Oscar-winner additionally shared an replace on her friendship with actor Kevin Spacey, 66, who was accused of sexual assault earlier than being acquitted.

    The Home of Playing cards star stated the scandal left him owing ‘many tens of millions’ in authorized charges and ‘residing in accommodations and Airbnbs’ as he admitted: “The prices over these final seven years have been astronomical. I’ve had little or no coming in and the whole lot going out.”

    Dench revealed that she stays in contact with Spacey, telling the Radio Instances: “Kevin has been exonerated and I hear from Kevin, we textual content.”

    The pair met on the set of the 2001 movie The Transport Information, with Spacey beforehand saying he ‘made it his mission to make [Dench] chuckle’ as a lot as he might whereas she handled the demise of her husband Michael Williams.

  • Harvard University tripled its Bitcoin ETF shares

    Harvard University tripled its Bitcoin ETF shares



    • Harvard University now holds the equivalent of $443 million in cryptocurrencies – twice as much as in gold.
    • It is an indication of the growing institutional recognition of digital assets, even from organizations that are considered more conservative.

    Harvard University has significantly increased its Bitcoin holdings and tripled its ETF investments in the third quarter of 2025. The $53 billion foundation now has twice as much money invested in Bitcoin as in gold, showing it is moving heavily away from traditional investments toward digital assets.

    Harvard Management Company has increased its Bitcoin investments by $443 million, bringing its total to $117 million. This is the largest allocation of digital assets the university has ever made. Harvard’s decision to add BTC to its core assets shows that major institutions are beginning to recognize cryptocurrencies as legitimate financial assets.

    Gold investments also saw an increase, doubling from $102 million to $235 million over the same period. However, the share of Bitcoin investments is twice that of gold, showing that cryptocurrencies are preferred over traditional safe-haven assets such as gold.

    University foundation invests in Bitcoin instead of gold

    Bitwise CIO Matt Hougan described Harvard’s action as a “blatant debasement trade,” suggesting the university sees Bitcoin as a hedge against the erosion of fiat currency. He also noted that the move reflects a broader trend of digital currencies becoming a recognized part of diversified investment portfolios.

    The surge in BTC investments comes at a time of market volatility, leading to retail outflows. Despite this volatility, Harvard’s institutional investment exposure appears robust, with Bitcoin being one of the largest single investments by a university endowment.

    Harvard’s 2:1 Bitcoin-Gold allocation highlights the strong institutional preference for cryptocurrencies. A prospect that was once considered a fringe investment is now widely accepted among sophisticated investors. The ratio shows the belief that Bitcoin is a more effective hedge against inflation than gold.

    Bitcoin traded above $126,000 for much of 2025 amid tightening liquidity in global markets. The Harvard allocation that has now become known supports the view that Bitcoin is suitable as a tool for managing the foundation’s assets.

    Germany, through Deutsche Digital Assets, has launched the DDA Physical Bitcoin ETP, the first regulated exchange-traded Bitcoin product on the Nortia marketplace. It gives public companies and asset managers access to Bitcoin in a regulated environment and increases confidence in wider acceptance of cryptocurrencies.

  • Binance, the world’s largest crypto exchange, will list the NIGHT token from December 9th

    Binance, the world’s largest crypto exchange, will list the NIGHT token from December 9th



    • Binance Alpha will list the NIGHT token starting December 9th, shortly after it launches on Cardano.
    • The NIGHT token is joined by DUST, a token that enables private, shielded transactions.

    Binance Alpha is a platform in Binance Wallet that introduces early-stage crypto projects with growth potential to Web3. More support for NIGHT is expected to come from leading exchanges, custodians and wallets in the near future.

    Midnight Network, a privacy-focused blockchain developed as a sidechain to Cardano, posted on X:

    “Binance now supports NIGHT. As the world’s largest crypto exchange, Binance is helping bring NIGHT to a wider audience and giving more users the opportunity to directly use the Midnight network. This strengthens NIGHT’s reach and is a win for data protection on Web3.”

    NIGHT Token: Launch on Cardano

    On December 4th, Midnight officially launched NIGHT as a native Cardano asset. At the same time, redemption requests were submitted for over 4.5 billion NIGHT tokens that had already been claimed during the Glacier airdrop phase. The Glacier airdrop involved more than 170,000 eligible wallet addresses, with over 3.5 billion NIGHT tokens claimed by customers.

    In the second phase, the so-called Scavenger Mine, another billion NIGHT tokens were claimed from more than eight million wallet addresses, further expanding the community and reach of the network.

    As CNF reported, NIGHT serves as the primary utility and governance token for the system. Owning NIGHT generates a second resource called DUST, which is used to pay for shielded and private transactions and smart contracts. Together, NIGHT and DUST enable comprehensive private interactions on the Midnight network.

    Although the launch and distribution of the tokens took place on December 4th, the release schedule for the community-allocated NIGHT token begins on December 10th. The tokens will be unlocked in installments over approximately a year. The first release date will be randomly assigned to each participant within a 90 day window.

    As CNF reported, the Midnight Network’s roadmap is divided into four phases. The first phase, “Hilo,” lays the groundwork and creates liquidity and stability for the network. The subsequent phases “Kukolu”, “Mohalu” and “Hua” build on this foundation and lead to the full development of the Midnight system.

    Cardano’s native token ADA had a modest increase over the past week von 12 % and will for 0,43 $ traded. However, he stays 85 % below its all-time high of 3,10 $. Sales rose 90% to $685 million.

  • Why Alex Scott wasn’t at I am A Celeb last after breaking main present rule



    Alex Scott could not make it to the ultimate episode of I am A Superstar… Get Me Out Of Right here! for an excellent motive.

    The previous England footballer-turned-pundit was the primary superstar to go away the jungle on the newest sequence of I am A Celeb – which noticed Offended Ginge be topped King of the Jungle final night time – however when she left, she wasn’t greeted by associate Jess Glynne.

    You recognize, the Jess Glynne who sings that music within the Jet2 adverts.

    Usually, when a celeb leaves the jungle, they will be greeted by their nearest and dearest individual, although on this case Scott shared a hug with good friend Regan Coleman, and that is as a result of Glynne could not head out to Australia after her mum had a stroke and wanted ‘pressing mind surgical procedure’.

    “I do know folks will surprise why I wasn’t there on the finish of the bridge, so I needed to share one thing private,” Glynne defined as she stated it had been a ‘actually critical, life-altering time for my household’ which meant she understandably wanted to remain ‘near dwelling’.

    Alex Scott rushed dwelling to assist her associate Jess Glynne (John Phillips/Getty Pictures)

    That is why Glynne could not be there, and it is also why Scott wasn’t nonetheless round for the ultimate episode, which is technically breaking one of many present’s guidelines – although it is unlikely anybody goes to be indignant together with her.

    When an I am A Celeb contestant leaves the jungle, they sometimes keep within the fancy JW Marriott Gold Coast Resort and Spa, the place they keep till the ultimate episode to allow them to come again for it.

    Whereas the principles say that celebrities sometimes have to stay round to allow them to make one last look on the finish it is unlikely anybody would begrudge Scott heading dwelling early to assist her associate via a troublesome time.

    “It has been robust as a result of I wish to be right here for the wrap get together and I’ve to get dwelling right away,” she told the Specific throughout her exit interviews.

    “She’s my Jessica, and I am going dwelling to be her rock. My campmates knew what I used to be going via and I simply wish to thank everybody at ITV and my campmates as a result of they’ve all proven me a lot assist.”

    When Alex Scott left the jungle she did not stick round within the lodge, given the explanation why it is unlikely anybody will thoughts (ITV)

    Scott revealed she practically pulled out of the present over Glynne’s mum’s surgical procedure, however told The Mirror that ‘Jess was the one which pushed me to be right here’.

    As quickly as she noticed another person ready to greet her on the bridge she knew she needed to facetime her associate and verify in with how she was, with them having an ’emotional second’ once they spoke once more.

    Afterwards, she flew out of Aus to be by her associate’s aspect throughout a troublesome time, which is why she wasn’t round to look for the I am A Celeb finale, which was gained by streamer Offended Ginge.

    Ginge joins an extended listing of I am A Celeb winners who’ve been topped King or Queen of the Jungle, although they do have to offer again their crown and sceptre virtually instantly.

  • Investors are suing Pi Network for $10 million in damages

    Investors are suing Pi Network for $10 million in damages



    • The claim for damages came after a warning from Chinavirtual assets and stablecoins are not legal means of payment – Pi Coin was used as an example.
    • An investor from Arizona previously had the SocialChain Inc., the operating company of Pi-Network, and two of its founders were reported for fraud.

    Pi Network is charged with securities fraud under US federal law. This resulted in a ten million dollar lawsuit for damages. On October 24, Harro Moen of Arizona filed a lawsuit in the U.S. District Court for the Northern District of California against SocialChain Inc. and its two founders, Nicolas Kokkalis and Chengdiao Fan, as well as other parties.

    The lawsuit states presentedthat Moen had been cheated out of the value of the Pi tokens that he had “mined” over the network since April 2020.

    Moen claims that over $2 million worth of unauthorized transfers from Pi took place and that delays or errors in migrating tokens to the Pi Network mainnet made them illiquid. The lawsuit further states that the defendants misled investors about the decentralization and distribution of the Pi tokens.

    The lawsuit further alleges that they conducted undisclosed token sales and transferred approximately two billion Pi coins.

    The central allegation is that Pi Network and its leadership violated US securities laws and investor protections by marketing and operating the token system in a manner that benefited insiders at the expense of ordinary investors.

    China’s role

    Following Beijing’s crackdown on cryptocurrencies, seven Chinese industry associations, including the National Internet Finance Association of China and the China Banking Association, have issued a warning against RWA tokenization. Specifically, the Pi network was denounced as an example of a token that could be used in pyramid schemes and to launder the proceeds of crime.

    Market performance and upgrades

    Fact: Pi Network uses AI in its fast-track KYC system to speed up verification, reduce manual checks by half, and help users stuck in backlogs complete the process on the blockchain faster.

    As CNF reported, 17.5 million customers have completed KYC, 15.7 million have already migrated to the mainnet, and three million are in the queue waiting for full verification.

    Pi Network is also preparing for the planned unlock of 190 million Pi tokens this month. The native Pi token has been around for the past week 4% and more in the last 24 hours 0,96 % decreased so that its current price is at 0,2210 $ and the market capitalization is approximately $1.84 billion.