I Will Update You On Today’s Crypto Events. Do you need to know the day’s crypto events? Crypto regulation, blockchain technology, NFTs, Web3, and daily trends are covered in this news article. The trader who started the GameStop meme stock saga is now leading EOS. This cryptocurrency project was previously in the top ten in terms of market cap, and it promises a “new era” for developers and community members by adopting a new tokenomics standard. The token dropped 16% when Donald Trump was found guilty in a New York hush money trial, but it rose to its levels before the trial. Do Kwon, co-founder of Terraform Labs, and the company are nearing a close on a fraud settlement with the SEC in the US.
GameStop rallies overnight as Roaring Kitty reveals $180M
After “Roaring Kitty,” Keith Gill revealed on Reddit that he owns $181.4 million of GME stock and call options. The stock of meme retailer GameStop (GME) rose by more than 19% in overnight trading. Gill, the trader, often mentioned that it significantly impacted the 2021 GME short squeeze. Made his first Reddit post since April 2021 on June 2 using his “DeepFuckingValue” account.
He supposedly staked $115.7 million on 5,000,000 GME shares and $65.7 million on call options. Speculating that the stock would be worth $20 per share on June 21. He included a screenshot in his post.
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Within the COVID-19 pandemic, Reddit traders turned the tables on hedge funds profiting from shorting the collapsing brick-and-mortar game store, GameStop. Some have viewed Gill as the central figure in this drama. Some think meme coins like Dogecoin saw a considerable price spike because of the GameStop short squeeze.
EOS adopts new tokenomics
The EOS ecosystem has accepted A new tokenomics model as part of a more significant effort to revitalize the once-promising network. The EOS Network Foundation announced on May 31 that they will be lowering the maximum quantity of the EOS cryptocurrency from 10 billion to 2.1 billion. In addition to announcing “high-yield staking rewards” for token lockups, the foundation instituted a four-year halving cycle.
Those who have owned the cryptocurrency. Since its initial coin offering (ICO) in 2018, were particularly vocal in their disapproval of the new strategy on social media. In its initial coin offering (ICO) that lasted a whole year and raised an astounding $4.1 billion, EOS was part of Block. Afterward, the project fell short of expectations, leading to protracted legal disputes and a settlement with authorities.
Data from CoinMarketCap shows that EOS’s market valuation is now at $935 million, down significantly from its 2018 high of $15 billion. With the minimal change from the announcement on May 31, its token price remained unchanged at $0.80.
TRUMP token recovers from nasty dip
after Donald Trump’s guilty verdict
Just moments after being found guilty on 34 felony counts for falsifying business records. The giant meme coin associated with US presidential candidate Donald Trump plummeted 16%. However, it has since recovered.
The case involving Trump’s attempt to cover up a hush money payment to adult entertainment star Stormy Daniels is now headed for sentence. A “disgrace” was Trump’s description of the trial’s verdict.
