Crypto wallet company Exodus sues W3C and its CEO, demanding enforcement of $175 million acquisition agreement

2026-04-14 by admin

PANews April 14 news, according to CoinDesk, crypto wallet company Exodus Movement has filed a lawsuit in the Delaware Court of Chancery against W3C and its CEO Garth Howat, seeking to compel the completion of a $175 million acquisition of W3C under a stock purchase agreement signed on November 24, 2025. The complaint alleges that Howat and W3C accepted an $80 million loan provided by Exodus after signing, with $10 million going to Howat personally, but Howat and W3C later claimed these loans did not need to be repaid. Exodus also accuses the defendants of attempting to steal millions from its subsidiaries, falsifying dates on documents submitted to government agencies, and dismissing board members and the CEO and CFO of key operating entities in violation of the agreement. W3C’s subsidiaries Baanx and Monovate are companies that partnered with Mastercard and MetaMask to launch the Crypto Life digital asset card business.

PANews June 30 news, according to The Block, the U.S. Securities and Exchange Commission (SEC) has issued a final judgment against crypto platform NanoBit, ordering the parties involved to pay over $5 million in fines. The case was initially filed in September 2024 during the Biden administration, with the SEC accusing NanoBit and related individuals of impersonating financial professionals in WhatsApp groups between September 2023 and June 2024 to gain investor trust, luring them to invest in NanoBit, and falsely claiming that an affiliate was an SEC-registered broker-dealer. The SEC stated that the so-called financial professionals promoted a fake initial coin offering, but no transactions ever took place on the NanoBit platform, and investor funds actually flowed to the fraud participants — over $2 million of which was wired to bank accounts in Hong Kong, and several hundred thousand dollars' worth of crypto assets were misappropriated. The SEC also issued an investor alert warning that fraudsters are using social media and instant messaging apps to perpetrate investment scams.

PANews June 30 news, according to The Block, on-chain analytics platform Arkham has launched a prediction market trader ranking system, using an Elo/MMR-style scoring mechanism to rank traders based on prediction accuracy. Each correct prediction boosts a trader's Elo score, with correct predictions on low-odds outcomes yielding a higher score increase than those on high-odds outcomes. Unlike profit-and-loss rankings, this system prioritizes accuracy over the amount of capital deployed, meaning small-cap traders with higher win rates can surpass better-capitalized but less accurate traders. Currently, the rankings mainly focus on Polymarket traders. The top-ranked trader, "GardenerCx," employs a "5-minute crypto up/down market" strategy and has achieved a 64.3% win rate on 2,644 bets.

DeepFlow TechFlow news, June 29th, as reported by The Block, the Bank for International Settlements (BIS) stated in its 2026 Economic Report that current stablecoins fail to meet monetary standards across four key dimensions: uniformity, resilience, interoperability, and integrity. Their operational model more closely resembles ETFs rather than payment instruments. The report estimates that even if stablecoin market capitalization expands to $1 to $3 trillion, the net effect on economic output would remain slightly negative, while intensifying pressure on bank funding and weakening credit capacity.BIS also warns that emerging economies face a risk of "stablecoin dollarization," which could erode their monetary sovereignty. The report recommends anchoring to central bank money and building an alternative framework—a "unified ledger" encompassing tokenized central bank reserves and commercial bank money—using Project Agora, a cross-border payment prototype, as proof of feasibility.