Lookonchain APP

App Store
Feeds Articles

The founder of NFT project Few and Far has been sued by the U.S. Department of Justice, accused of embezzling tens of millions of dollars in funding.

58 minutes ago

The U.S. Southern District of New York Attorney’s Office and the Federal Bureau of Investigation (FBI) announced that Taj Tarsha, founder of NFT project Few and Far Limited, has been formally indicted by the U.S. Department of Justice on charges including securities fraud and wire fraud. Tarsha was arrested on June 6. The indictment alleges that since February 2022, he sold 95 million FAR tokens to at least 67 investors via Simple Agreements for Future Tokens (SAFTs), raising over $10 million, with promises that the funds would be used to develop a decentralized NFT marketplace and the FAR token. However, almost from the start of fundraising, Tarsha diverted investor funds to online casino gambling and speculative cryptocurrency purchases, and siphoned nearly $1 million in bonuses and high salaries—he himself admitted the compensation was unreasonable given the company had zero revenue and no product. After a 2023 audit exposed the fund misappropriation, Tarsha lied to investors, claiming the bonuses were tied to preset FAR token presale targets, all transactions served the company’s interests, and all investor funds remained dedicated to fulfilling the company’s mission. In reality, he had fired nearly all employees, only instructing remaining contractors to create an illusion of ongoing development. For at least a year afterward, he continued to use investor funds for personal expenses, including cryptocurrency purchases, a Miami apartment mortgage, interior design, and his DJ hobby. When the FAR token finally launched in May 2024, it was worthless and quickly stopped trading.

Source
Add to Favorites Download image Share x Copy link
Relevant content

Bitcoin ETFs see +3,275 $BTC inflow, Ethereum ETFs +23,222 $ETH in 24 hours

August 5 Update: #Bitcoin ETFs: 1D NetFlow: +3,275 $BTC(+$211.08M)?? 7D NetFlow: +5,565 $BTC(+$358.05M)?? #Ethereum ETFs: 1D NetFlow: +23,222 $ETH(+$43.54M)?? 7D NetFlow: +4,953 $ETH(+$9.27M)??

20 minutes ago

The CLARITY Act was not added to the U.S. Senate agenda today, with its probability of being signed into law this year dropping to 16%.

Crypto journalist Eleanor Terrett disclosed that U.S. Senate Majority Leader John Thune today filed a motion to proceed to debate on other bills, excluding the Cryptocurrency Market Structure Act (the CLARITY Act). A motion to proceed is a key procedural step for advancing Senate legislation, and Thune’s choice to prioritize other bills at this time signals that core disagreements over the CLARITY Act—especially the unresolved division over enforcement authority for its ethics provisions—have not been bridged. The U.S. Senate is set to enter its August recess, so the legislative window for the CLARITY Act is rapidly narrowing. The bill previously passed the Senate Banking Committee, but Democrats and Republicans remain deadlocked over its ethics provision banning federal officials from issuing digital assets: specifically, whether the Department of Justice (DOJ) or state attorneys general should serve as the lead enforcement body. Maryland Senator Alsobrooks has explicitly stated she will not support the bill if enforcement power is limited to the DOJ rather than retained for states. Thune’s decision to prioritize other legislation has further reinforced market expectations that the CLARITY Act will not secure a full Senate vote before the recess. On prediction market Predict.fun, the probability that the CLARITY Act will be signed into law in 2026 has fallen to 16%.

20 minutes ago

Hackers have launched a wave of cyberattacks on large Wall Street hedge funds, with Citadel Securities and Two Sigma targeted for attempted intrusions.

According to Bloomberg, sources familiar with the matter revealed that hackers have launched a sophisticated wave of attacks on Wall Street firms in recent days, targeting the information systems of large asset management companies. Attackers attempted to breach the systems of some of the world’s largest hedge funds, including Two Sigma Investments, Citadel, and Point72 Asset Management. Multiple private equity firms were also targeted in this attack wave. The attacks used vishing, a method where cybercriminals leverage technology to simulate voices in calls or voice messages, tricking employees into disclosing sensitive information or granting access permissions.

20 minutes ago

Tokenized stocks also carry voting rights! Payward, Kraken’s parent company, grants proxy voting rights to xStocks holders.

Kraken parent company Payward has announced a major adjustment to how tokenized stocks participate in corporate governance. Previously, xStocks holders held no voting rights over their underlying equities; now, via a partnership with investor communications services giant Broadridge, qualified investors can submit proxy voting preferences. Payward Chief Commercial Officer Mark Greenberg stated: “The ultimate goal of tokenization has never been merely building faster, programmable capital markets—it’s about giving people worldwide all the rights that come with holding a company’s shares, including a voice in how the business is run.” Issued by Backed, xStocks is currently open to qualified investors outside the U.S. Broadridge provides digital asset infrastructure including proxy voting, post-trade services, wallets, and custody. Last month, Payward partnered with fintech infrastructure provider GTN to expand the xStocks product to Hong Kong-listed stocks, with plans to later cover international markets such as the U.K., Europe, and South Korea. Payward added that since xStocks launched last year, its cumulative trading volume has exceeded $25 billion.

20 minutes ago

Lido DAO launches an on-chain vote for NEST automated repurchases; the proposed mechanism ties the protocol’s performance to the LDO token.

Lido Finance has released a governance update, announcing that Lido DAO has officially opened on-chain voting for the NEST automated token buyback mechanism. The main voting window runs from August 5 to August 8 at 14:00 UTC. NEST is an automated, rule-based on-chain mechanism that directly ties the Lido Protocol’s performance to its native LDO token. The mechanism’s design and parameters were approved via Snapshot voting back in May. At its core, NEST uses protocol revenue or protocol-controlled liquidity to systematically repurchase LDO tokens on decentralized markets, enabling continuous capture of protocol value growth at the token level. The mechanism will be rolled out around the LDO/wstETH liquidity pair, with specific implementation details still being updated on community forums. Should the on-chain vote pass, Lido will transition from a periodic, governance-driven buyback model to a continuous, predictable automated value distribution framework.

20 minutes ago

Tokenized stocks now come with voting rights! Kraken’s parent company Payward grants proxy voting rights to xStocks holders.

Payward, parent company of crypto exchange Kraken, has announced a major adjustment to how tokenized equity holders participate in corporate governance. Previously, xStocks holders held no voting rights over the underlying stocks; through a partnership with Broadridge, a leading investor communications services provider, eligible investors can now submit proxy voting preferences. “The ultimate goal of tokenization has never just been to build faster, programmable capital markets—it’s to give people around the world all the rights that come with owning a company’s shares, including a voice in how that company is operated,” said Mark Greenberg, chief commercial officer at Payward. Issued by Backed, xStocks is currently open to eligible investors outside the U.S. Broadridge will provide digital asset infrastructure services including proxy voting, post-trade operations, wallets, and custody. Last month, Payward collaborated with financial technology infrastructure provider GTN to expand the xStocks product to cover Hong Kong-listed stocks, with plans to subsequently roll out to additional international markets including the U.K., Europe, and South Korea. Payward noted that xStocks has exceeded $25 billion in cumulative trading volume since its launch last year.

20 minutes ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!

2024.12.13 17:37:29

Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

2024.12.16 14:48:36

A $PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE($52M) to a new address.

2024.12.14 10:35:27

When Elon Musk tweeted about Moltbook, the meme coin MOLT experienced a short-term 30% price surge, hitting a new all-time high of $114 million.

2026.01.31 18:37:29

A smart #AI coin trader made $17.6M on $GOAT, $ai16z, $Fartcoin,$arc.

2025.01.05 16:05:18

A sniper earned 2,277 $ETH ($8.3M) trading $SHIRO within 18 hours!

2024.12.03 23:09:08

 More

Hot Articles

Follow us

X

Follow

Telegram

Join