Lookonchain APP

App Store
Feeds Articles

Genius Terminal Co-Founder Responds to S2 Points Controversy: Rules Are Adjustable, Personal Tokens Will Not Be Unlocked Before Users’ Tokens

1 days ago

Ryan Myher, co-founder of Genius Terminal, responded to the controversy over Genius’ adjustment to its Season 2 points rules, stating: “Genius is essentially a terminal for trading crypto assets, and points are just additional benefits users may earn when trading on the platform. Every user who trades on Genius has agreed to our airdrop terms; if you’ve been using it since Season 1, you’ve actually agreed twice. You cannot use the platform without accepting these terms. Points are inherently additional benefits, so the rules will be adjusted based on actual circumstances. Recently, the terminal’s trading volume has dipped, so daily points distributions have decreased. One guarantee: individual tokens will not unlock before user tokens.” Earlier on the 24th, news broke that Genius—an on-chain trading terminal backed by YZi Labs—has revised its Season 2 points campaign. The community alleges the campaign originally promised to unlock 70 million GENIUS tokens on October 25 to incentivize trading and points accumulation. Official documentation previously specified Season 2 would run from April 10 to August 10, with 1.5 million points distributed daily; recent updates to relevant pages have removed the “April 10 to August 10” timeframe from current docs, and daily points have been cut to 50,000. CoinMarketCap data shows the unlock timeline for these 70 million tokens has been delayed to February 2028. Some participants are demanding either unlocks at the original date or refunds for Season 2-related fees.

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

The spot trading volume of tokenized stocks on Base chain reached $1.3 billion over the past 30 days, surging 153.8% month-over-month.

Over the past 30 days, tokenized stocks on the Base blockchain have generated approximately $1.3 billion in spot decentralized exchange (DEX) trading volume, a 153.8% increase compared to the prior 30-day period. Of this total, tokenized stocks issued by Coinbase accounted for roughly $1.2 billion, representing the vast majority, while st0x-related assets saw trading volume of around $90 million.

2 hours ago

Cosmos Hub Recovers 1.227 Million ATOM from Neutron Attack, Funds Temporarily Held in 4/6 Multi-Signature Address

Cosmos Labs released a disclosure stating that on September 22, Neutron suffered a governance attack, resulting in the theft of liquidity from protocols including Astroport. Approximately 1.73 million ATOM were subsequently transferred by the attacker to the Cosmos Hub. The Cosmos Hub itself was not targeted in the attack, and user funds remained unharmed. To block the stolen ATOM from being further moved, Hub validators temporarily paused the network for roughly 24.5 hours, resuming block production on September 23 using the patched Gaia v28.3.0. Cosmos Labs added that during the pause, 1.227 million ATOM stayed in the attacker’s Hub address. Upon network recovery, these funds were transferred in a single operation to a 4/6 multi-sig address made up of Nansen, Keplr, Enigma, Silknodes, Kiln, and Polkachu. Earlier, around 500,000 ATOM had been swapped for ETH via THORChain and cannot be recovered. An additional 169,000 ATOM entered the attacker’s address via a THORChain refund after the network came back online, and were later transferred to Osmosis and sold. The multi-sig address currently holds approximately 1.227 million ATOM, which can only be returned following authorization via a Cosmos Hub governance proposal. The funds will not be staked, lent, or traded. The Neutron team is expected to submit a recovery plan and related governance proposal next week.

2 hours ago

Hunter Biden questions claim of cashing out tens of millions of dollars: Laptop Team wallet has never sold its tokens

Crypto news outlet Market Insider reported that Hunter Biden-associated token LAPTOP has seen its market capitalization drop below $25 million, a 99.9% plunge from its launch, and estimated the project team reaped eight-figure profits. Hunter Biden, son of former U.S. President Joe Biden, responded that he had previously called the token launch "terrible", adding that relevant accounts are under review. He noted that the project team’s wallet has not sold any LAPTOP tokens to date, questioned the claim that the team cashed out an eight-figure sum, and demanded the person who made the estimate disclose the relevant wallet address.

2 hours ago

US CFTC sues Cash FX Group and its executives, alleging involvement in a $950 million foreign exchange Ponzi scheme.

On September 25, the U.S. Commodity Futures Trading Commission (CFTC) announced it had filed a lawsuit in the U.S. District Court for the Middle District of Florida against Cash FX Group and its CEO Huascar Jose Lopez Castillo, The Conversion Pros and its CEO Ronald Pope, and Justin Halladay. The CFTC alleges the defendants operated a multi-level marketing Ponzi scheme, illegally raising over $950 million from the public including U.S. residents, claiming the funds would be used to trade retail foreign exchange contracts and promising weekly investment returns of up to 15%. According to the CFTC, Cash FX only conducted a small amount of actual forex trading, misappropriating nearly all participants’ funds. It used money from new participants to pay out fraudulent trading profits to other participants, while also paying millions of dollars to the defendants. The company maintained the fraud by providing false account statements. The CFTC states that participants have lost at least $406 million, and it is currently seeking to recover funds, forfeit illegal proceeds, impose civil penalties, secure trading and registration bans, and obtain permanent injunctions barring the defendants from further violating the Commodity Exchange Act and CFTC regulations.

2 hours ago

Iran says it will not compromise on the nuclear issue, and the reopening of the Strait of Hormuz still depends on the US meeting its conditions.

A senior Iranian official told Reuters that Iran will not make concessions on its nuclear program even if the U.S. accepts Iran’s proposal to reopen the Strait of Hormuz. The official added that the Strait of Hormuz will remain closed until the U.S. meets all of Iran’s conditions. Iranian Foreign Minister Al-Araghchi previously stated that Iran has put forward a seven-day plan, which includes ending hostilities in multiple regions, lifting the U.S. maritime blockade on Iranian ports, unfreezing frozen assets, and canceling oil sanctions, in return for reopening the critical waterway. (Jinshi)

2 hours ago

SK Hynix's subsidiary Solidigm plans to launch an IPO in 2027, with a potential valuation of $150 billion.

Sources familiar with the matter said SK Hynix’s solid-state drive (SSD) division Solidigm plans to hold its initial public offering (IPO) as early as 2027, with a potential valuation of up to $150 billion at that time. Solidigm held roadshows with multiple banks this week to select underwriters and other relevant service providers for the IPO, sources added.

2 hours 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

Popular tokens

BitcoinEthereumHyperliquidSolanaTRONBNBTetherAaveXRPPepeFartcoinOndoJupiterUniswapBonkPendleEthenaArbitrumAvalancheLidoChainlinkPolygonDogecoinCardano