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  • BREAKING: Rumors Swirl That Today’s Hacking Incident Could Be Much Larger – Aave Takes Action

    The security crisis in the cryptocurrency market is deepening. While earlier allegations of a potential attack exceeding $100 million on KelpDAO’s liquid staking token surfaced, recent developments suggest the attack may be on a much larger scale.

    According to on-chain data, one user had over $280 million in assets stolen from various DeFi protocols operating on Ethereum and Arbitrum. The addresses used in the attack were found to have been funded through Tornado Cash, a privacy-focused transaction tool.

    Related News RAVE Tokeninde Manipülasyon İddialarına Geliştiricilerden Yanıt Geldi

    Following these developments, Aave, one of the leading lending protocols in the DeFi ecosystem, intervened quickly. According to on-chain sources, Aave’s multisig guardian mechanism froze the rsETH holdings in lending markets to limit the risks. This move is considered an urgent measure to prevent the spread of potential losses.

    As you may recall, approximately half an hour ago, following allegations of a security breach on the KelpDAO side, signals emerged indicating a “bad debt” (uncollectible debt) on Aave V3.

    *This is not investment advice.

  • AI is increasingly eating into VC fundings and here is how crypto firms are adapting

    AI is increasingly eating into VC fundings and here is how crypto firms are adapting

    Forty cents of every venture capital dollar invested in crypto companies in 2025 went to firms building products that combine artificial intelligence and crypto, more than double the 18 cents a year earlier.

    “AI is increasingly entering crypto not as a parallel narrative, but as part of crypto’s own product and infrastructure stack,” Binance Research said, citing data from Silicon Valley Bank, noting that this shows “how quickly AI is becoming embedded within crypto roadmaps.”

    That pressure is visible in crypto’s shift from AI “co-pilots” to “agents.” Co-pilots help users analyze information, while agents can monitor conditions and execute actions. In trading environments, where timing affects outcomes, reducing the gap between insight and execution can change behavior.

    The trend is part of a wider surge in AI spending. Crunchbase data shows AI companies raised about $242 billion in the first quarter of 2026, or roughly 80% of global venture funding. Gartner estimates total AI spending will reach $2.52 trillion this year.

    Crypto leading the AI push

    This trend, however, isn’t surprising.

    As capital concentrates in one area, it often pulls adjacent sectors along with it, pushing firms to adapt their strategies and shorten product cycles, Binance Research wrote.

    While almost all sectors are trying to incorporate AI into their business models, the report says that crypto platforms have moved faster than traditional finance in deploying such systems. This is due to support from always-on markets in the digital assets sector and programmable infrastructure, whereas TradFi faces market-hour constraints and intermediary systems that agents must pass through.

    For example, the research noted that on Binance’s AI Pro beta, nearly half of the activity on a recent day, 45.7%, was triggered by the system rather than users.

    These interactions came from scheduled tasks and monitoring systems, pointing to growing use of AI tools that run in the background without prompts.

    Adoption of AI solutions is uneven across the 17 exchanges and brokers Binance Research surveyed. Risk management, market signals, and fraud detection are standard, while user-facing tools such as copy trading, chatbots, and portfolio advisors are present in only 47% to 71% of them.

    Several major platforms have shipped agentic products this year, moving AI closer to monitoring and execution within set guardrails. That compresses the value chain between identifying an opportunity and acting on it, Binance Research added.

    That means the competitive landscape will shift from who’s integrating AI features to who’s owning users’ decision-making loops, the report noted.

  • Trump joined by Joe Rogan as he signs order to speed up psychedelic review

    Trump joined by Joe Rogan as he signs order to speed up psychedelic review

    The order calls on the federal government to relax restrictions on psychedelics, including ibogaine, for potential treatments.

    United States President Donald Trump has signed an executive order to speed up the review of a handful of psychedelic drugs, including the controversial ibogaine.

    Trump was joined by podcaster Joe Rogan during Saturday’s Oval Office event.

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    Rogan, considered one of the most influential podcasters in the country, has been a leading proponent of ibogaine, which is derived from a plant that grows in West Africa and has been embraced by some military veteran groups as a treatment for post-traumatic stress.

    Speaking at the event, Rogan recounted how he had previously texted information to Trump about ibogaine.

    He recalled that the president quickly texted back: “Sounds great. Do you want FDA [Food and Drug Administration] approval? Let’s do it.”

    Advocacy groups have long pushed for more research into the possible use of psychedelics to treat an array of issues, including depression.

    “Today’s order will ensure that people suffering from debilitating symptoms might finally have a chance to reclaim their lives and lead a happier life,” Trump said at the signing.

    “If these turn out to be as good as people are saying, it’s going to have a tremendous impact.”

    At one point, the president quipped that he would be open to taking psychedelics himself: “Can I have some, please? I’ll take some.”

    But he quickly pivoted away from the joke. “I don’t have time to be depressed. You know, if you stay busy enough, maybe that works, too. That’s what I do,” he said.

    Increasing research into psychedelics has proven a rare issue with bipartisan support in the US, where ibogaine and other psychedelics remain banned under the federal government’s most restrictive category for illegal drugs.

    Health Secretary Robert F Kennedy Jr had previously pledged to ease access to psychedelics for medical use.

    Trump’s executive order calls on the Department of Health and Human Services to direct at least $50m to states that have enacted or are developing programmes to advance psychedelic drugs for serious mental illness.

    It also arrives ahead of several actions from the FDA to loosen restrictions.

    This week, the agency will issue so-called “national priority” vouchers for three psychedelics, which the agency’s commissioner, Marty Makary, said will allow certain drugs to be approved quickly “if they are in line with our national priorities”.

    The FDA is also taking steps to clear the way for the first-ever human trials of ibogaine in the US. Previous research had been stalled by concerns over the drug potentially triggering fatal heart problems.

    Ibogaine was first used by members of the Bwiti religion in African nations like Gabon for religious ceremonies.

    Rogan’s endorsement helped boost Trump ahead of the 2024 presidential election. He has since publicly questioned the administration’s war with Iran, saying it runs counter to Trump’s campaign pledges.

    Also present on Saturday was Marcus Luttrell, a former Navy SEAL whose memoir about his time in Afghanistan, Lone Survivor, was later made into a film.

    He praised ibogaine during the ceremony: “It absolutely changed my life for the better.”

  • And Finally, They Dumped It: RAVE Plunged Today, Binance CEO Issues Statement

    And Finally, They Dumped It: RAVE Plunged Today, Binance CEO Issues Statement

    As allegations of manipulation surrounding the controversial RaveDAO ($RAVE) token in the cryptocurrency market intensify, a noteworthy statement has come from Binance, one of the sector’s largest exchanges.

    Binance Co-CEO Richard Teng announced that allegations of insider trading on the $RAVE token are being taken seriously. Teng stated that the exchange has launched an investigation into the matter, adding, “We will always do our part to investigate all market abuses.”

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    The statement comes after recent sharp price movements in the $RAVE token and allegations of a “pump and dump” scheme. Market participants point out that high supply controls and sudden price fluctuations pose risks for individual investors.

    $RAVE, an altcoin that has been the subject of much discussion lately due to its sharp fluctuations, lost 60% of its value today. However, it is still trading at a level 255% higher than it was 255% earlier in the last week.

    A graph showing the rise and fall in $RAVE’s price.

    *This is not investment advice.

  • ‘The Batman: Part II’: Charles Dance in Talks to Join as Harvey Dent’s Father in DC Sequel

    The Batman: Part II is looking to add another star to its stacked cast.

    Charles Dance is in talks to play Harvey Dent’s father in the upcoming sequel to 2022’s Batman, The Hollywood Reporter has learned.

    DC Studios had no comment.

    Robert Pattinson is back to lead the film as the Dark Knight with Sebastian Stan as Harvey Dent, and Scarlett Johansson as Dent’s wife.

    Matt Reeves returns to direct the movie, which is aiming to begin production next month, and co-wrote the script with Mattson Tomlin.

    Dance played Tywin Lannister in four seasons of HBO’s Game of Thrones. He also has credits in Alien 3, The Imitation Game, Gosford Park, The First Omen, The Day of the Jackal and played Dr. Frankenstein’s father in last year’s Guillermo del Toro’s Oscar-nominated, Frankenstein.

    The Batman grossed $772 million at the worldwide box office and starred Colin Farrell as the villain, the Penguin, who got his own spinoff series on Max and is returning for the sequel. The cast rounded out with Zoë Kravitz as Catwoman, Jeffery Wright as Jim Gordon, Paul Dano as the Riddler, Andy Serkis as Alfred and Barry Keoghan as an Arkham Asylum inmate.

    A sequel was first announced by Warner Bros. at CinemaCon in April 2022. But in early 2023, DC Studios bosses James Gunn and Peter Safran said it would open in October 2025. A year later, the movie was delayed to Oct. 2, 2026. The film is now expected to be released on Oct. 1, 2027.

    Dance is repped by Tavistock Wood Management.

    Deadline first reported the news.

  • 20 players younger than 23 set to step onto NBA Playoffs stage

    Danny Green shares which players he thinks will be playoff X-factors.

    When you look at the top players 23 years old and younger playing in the NBA playoffs, one fact stands out: the San Antonio Spurs, Houston Rockets and Portland Trail Blazers are filled with young talent.

    Not all that young talent is concentrated on those teams either. The Detroit Pistons and Atlanta Hawks are represented, along with several other teams. Some players are already All-Stars and not far from All-NBA honors, while others are headed in that direction.

    (Note: Oklahoma City Thunder big man Chet Holmgren is 23, but turns 24 on May 1. So, he is not included.)

    Here’s a look at the top players 23 and younger in the first round of the NBA playoffs, listed in alphabetical order:


    Paolo Banchero, Orlando Magic (23 years old)

    • A 2024 All-Star selection, Banchero delivered 22.2 ppg, 8.4 rpg and 5.2 apg in 2025-26.

    Anthony Black, Orlando Magic (22)

    • The stats keep improving for Black, now in his third season: 15 ppg, 3.8 rpg, 3.7 apg and 1.4 spg on 44.7% shooting overall.

    Stephon Castle, San Antonio Spurs (21)

    • The 2024-25 Kia Rookie of the Year improved his scoring (14.7 to 16.7 per game), shooting (42.8% to 47.1%) and assists (4.1 to 7.4) season over season.

    Donovan Clingan, Portland Trail Blazers (22)

    Dyson Daniels, Atlanta Hawks (23)

    • One of the NBA’s top defenders, Daniels shared the league lead in steals (2 spg) with Ausar Thompson and averaged 11.9 ppg, 6.8 rpg and 5.9 apg.

    Jalen Duren, Detroit Pistons (22)

    • Duren took a massive leap this season, posting 19.5 ppg, 10.5 rpg and shooting 65% as he made his first All-Star team.

    VJ Edgecombe, Philadelphia 76ers (20)

    • One of the few rookies who started a majority of games for a playoff team, Edgecombe, the No. 3 pick in the 2025 NBA Draft, averaged 16 ppg, 5.6 rpg, 4.2 apg and 1.2 spg while shooting 43.8% from the field, 35.4% on 3-pointers and 81.8% on free throws.

    Dylan Harper, San Antonio Spurs (20)

    • The No. 2 pick in the 2025 draft, Harper’s per-36-minutes stats are telling: 18.8 ppg, 6.1 apg, 5.4 rpg and 1.2 spg while shooting 50.5% from the field.

    Scoot Henderson, Portland Trail Blazers (22)

    • He missed the first 51 games with a hamstring tear but averaged 15.9 ppg and shot 42.9% on 3-pointers in the last 18 games of the season.

    Jonathan Kuminga, Atlanta Hawks (23)

    • Kuminga shows flashes of his potential – like when he had 24 points against Cleveland on April 8.

    Alperen Sengun, Houston Rockets (23)

    • Already a two-time All-Star, Sengun was one of three players to average at least 20 points, eight rebounds and six assists this season.

    Shaedon Sharpe, Portland Trail Blazers (22)

    • He returned late in the season from left calf and fibula injuries and averaged a career-high 20.8 ppg.

    Reed Sheppard, Houston Rockets (21)

    • After playing just 12.6 minutes per game in 52 games as a rookie, Sheppard showed this season why he was the No. 3 pick in the 2024 Draft: 13.5 ppg and 1.5 spg while shooting 39.4% on 3-pointers.

    Jabari Smith Jr., Houston Rockets (22)

    • Playing alongside Kevin Durant was good for Smith, who averaged 15.8 ppg and 6.9 rpg.

    Amen Thompson, Houston Rockets (23)

    • Like his brother Ausar, Amen defends while also shooting with efficiency inside the 3-point line. He averaged 18.7 ppg, 7.8 rpg, 5.3 apg and 1.5 spg in 2025-26.

    Ausar Thompson, Detroit Pistons (23)

    • When Thompson, an All-Defensive Team candidate, is on the court, the Pistons outscore opponents by 11.6 points per 100 possessions. He tied for the league lead in steals per game (2.0).

    Jaylon Tyson, Cleveland Cavaliers (23)

    Cason Wallace, Oklahoma City Thunder (22)

    • Another top-notch defender for the Thunder who posted 8.6 ppg and 1.9 spg in 26.6 minutes per game.

    Peyton Watson, Denver Nuggets (23)

    • When injuries hit the Nuggets in December and January, Watson averaged 17.9 ppg and shot 42.6% on 3-pointers in 27 games.

    Victor Wembanyama, San Antonio Spurs (22)

    • Already one of the league’s top players, Wembanyama, a two-time All-Star and game-changer defensively, should only get better after averaging 25 points, 11.5 rebounds, 3.1 assists and 3.1 blocks this season.

    * * *

    Jeff Zillgitt has covered the NBA since 2008. You can email him at jzillgitt@nba.com, find his archive here and follow him on X.

  • Meet Olga Rabinovich, the Philanthropist Singlehandedly Financing Brazil’s Film Talent

    Meet Olga Rabinovich, the Philanthropist Singlehandedly Financing Brazil’s Film Talent

    Back in 2018, Brazilian heiress and philanthropist Olga Rabinovich sat her team down and gave them a mission: to find the most effective way to nurture a cause in dire need of effective financial support in her home country. After a year of research, Olga found her answer in the film industry, launching the Olga Rabinovich Institute the same year and Projeto Paradiso a year later.  

    Projeto Paradiso offers a wide range of support to Brazilian screen professionals to maximize their presence on the global stage. The organization is heavily focused on internationalization, working with partners to connect national talent with opportunities worldwide and offering bursaries, training opportunities and carefully curated resources. The initiative was recently behind buzzy festival titles such as Allan Deberton’s Berlinale-winning “Gugu’s World” and Grace Passô’s “Our Secret,” and boasts a talent network of 264 professionals, including Anita Rocha da Silveira (“Medusa”), Juliana Rojas (“Good Manners”) and Dira Paes (“Manas”).

    The work of Projeto Paradiso is almost unprecedented in terms of scope and ease of bureaucracy. Given that Rabinovich is the single source of funding and operates without admin-heavy regulatory bodies, the institute has a surprising malleability and agility in how it can support talent. As Projeto Paradiso celebrates its third talent network national meeting in Recife, Variety sat down with Rabinovich and associate Roberta de Oliveira e Corvo to talk about the origins of the institute, its differentials and how one woman is singlehandedly changing the present and future of Brazilian cinema. 

    Roberta de Oliveira e Corvo, Olga Rabinovich and Josephine Bourgois, courtesy of Projeto Paradiso

    “I have been so immensely privileged in my life and have always been very aware of this privilege and my luck,” says Rabinovich. “One day, I sat down with my long-time lawyer and friend, Roberta, and told her that I wanted to give back somehow. I’ve had wonderful opportunities in life, and I felt like I wanted to enable others to have similar chances.”

    When Rabinovich first heard of the issues plaguing the Brazilian film industry, she immediately felt she had found her cause. “I loved the idea of supporting cinema because I feel it is a magical art form,” she says. “You enter a screening room without knowing whether you’ll be elated or disturbed or moved. It’s a transformative experience. I think it’s incredible to have a communal artistic experience that moves you like this. I was immediately onboard.”

    After a lengthy research, the institute’s team realized there was a lack of investment in development despite the country boasting healthy incentives and public funding systems. “It was unanimous at that time that the national film industry was not struggling with production per se, because there was a structure in place that was nurturing that side of the market,” adds Corvo. “What we learned is that Brazilian filmmakers had no time to mature their scripts because they needed to make a living while trying to conduct this creative work. That’s when we first came up with the idea of the incubator.”

    The incubator became Projeto Paradiso’s first initiative, despite the organization not having been formally named at the time. “Then came Bolsonaro, and we became a much bigger initiative, supporting a much wider network,” recalls Rabinovich. “Bolsonaro wanted to destroy culture altogether. I put my foot down and said: No. We won’t let that happen. Let’s see what we can do.”

    When under Bolsonaro funding for Brazil’s national film agency Ancine and other initiatives plunged, Rabinovich stepped up to help Brazilian filmmakers cover travel costs to attend major international festivals. This quick thinking and even quicker action became ingrained in the institute’s ethos. Walking around Recife’s Cais do Sertão, where the Projeto Paradiso Talent Network National Meeting is currently taking place, one could hear producers, directors and writers praising how effective the program is. A producer who asked to remain unnamed said it took less than a week between the Paradiso team confirming they would grant her a travel bursary to a European festival and the money landing in her bank account. “I have been a producer for over two decades and have never seen anything like it.”

    ‘Our Secret’

    ‘Our Secret’ © entrefilms / Wilssa Esser

    Enquired as to how they can operate this efficiently, Corvo says the answer is “simple and frankly quite sad.” “We are dealing with private funds, managed by a single entity. We don’t need to have a long compliance process for every single decision. We have a fiscal board that oversees our work, but we waste very little time in making things happen. If one of our team members comes to us and tells us that someone got selected for a program and they need to jump on the chance right away, we make it happen quickly. We have direct channels between us and talent.”

    It also helps that the institute is dealing with relatively small grants, a decision that was made very early on in the company’s establishment. “We opted to offer several smaller grants that could have a meaningful impact on a person and their project instead of only being able to provide one or two massively inflated grants,” adds Corvo.

    “I remember the day Josephine [Bourgois, Projeto Paradiso’s executive director] told us about the idea of ‘final cash,’ which is the last bit of money a filmmaker needs to finalize their project. This is often the equivalent of $3,000, but it can make or break a project. Suddenly, the institute can come in and make that happen very quickly. We had people coming to us in tears, sending us long letters… It’s incredible to see the impact of a grant like it.”

    Rabinovich is almost like a rock star at the talent network gathering, often being stopped by grateful grantees in the labyrinthine corridors of Cais do Sertão. The warmth she feels at the event makes the philanthropist visibly emotional. “It is such an immense honor and an almost overwhelming feeling of satisfaction,” she says. “I can’t quite believe I have started something that felt so small at the time and that has grown to such success. It is very moving but also feels like a huge responsibility. I’m just grateful we can make it happen.”

    As for the future, Rabinovich says she is steadfast in making her charitable work a long-term initiative. “We had a meeting when Projeto Paradiso turned five to think about the next five years and what our priorities were when it came to professionalization,” she recalls. “We wanted to have everything in place to ensure that this is an initiative that can be perpetuated. I don’t want this to have an expiration date. I would love for it to work in perpetuity, and I fully believe we will make it happen.”

  • ‘Beef’ Stars Carey Mulligan and Oscar Isaac on What Drew Them to Their Characters, Who Do Unhinged, Terrible Things

    ‘Beef’ Stars Carey Mulligan and Oscar Isaac on What Drew Them to Their Characters, Who Do Unhinged, Terrible Things

    SPOILER ALERT: The following story contains plot details from Season 2 of “Beef,” now streaming on Netflix

    Netflix’s “Beef” is back for a second season, and the anthology series is wild, revolving around two couples, Josh (Oscar Isaac) and Lindsay (Carey Mulligan) and Austin (Charles Melton) and Ashley (Cailee Spaeny). One of the most intense scenes comes in Episode 5 when Lindsay’s beloved dog, Burberry, has gone missing after Ashley snuck into their house and accidentally left the back door open. After hours of searching, Lindsay comes upon a coyote attacking Burberry and, without a second thought, kills the coyote with her bare hands.

    “That was basically what made me want to do it,” Mulligan says.

    Creator Lee Sung Jin had not yet fleshed out all eight episodes of “Beef” when Mulligan sat down with him over Zoom, but there was one thing he knew for certain. Mulligan says, “He was like, ‘but I know exactly what happens in Episode 5.’ He pitched the whole episode around losing the dog and ending with that coyote.”

    “Shooting it was kind of crazy,” she adds. “But I was very motivated by the idea of that scene.”

    This season of “Beef” takes place at an upscale Montecito country club. Isaac plays the club’s general manager, and Lindsay, is an interior decorator there. Gen Z couple Ashley and Austin work at the club, but are at the lower end of the pay scale.

    The “Beef” kicks off when Austin and Ashley witness Josh and Lindsay in a heated, violent argument, and capture it on video, suddenly finding themselves with some leverage to blackmail the older couple. Things quickly spiral into a web of lies, power dynamics and desperation. The conflict between Josh and Lindsay escalates, and the coyote scene marks a turning point for Lindsay and her marriage.

    “In that whole time, she had never really figured out anything that she cared about or was particularly good at,” Mulligan says of Lindsay. “I think that was a big part of what I found interesting about her — that with all she had built her life on with this marriage, she didn’t really have an identity that she could hold on to.”

    Courtesy of Netflix

    Killing the coyote might be an unhinged moment, but Mulligan says: “It’s the realization that the marriage is completely over, and that the only thing in the world that she feels has reciprocal love and understanding for her is this dog. So killing that coyote in defense of the dog is this enormous act of love, but also realizing that you only have that an animal — that you don’t have with people in your life.”

    In the next episode, Lindsay has changed. “She cares less about what people think,” Mulligan says. “Much of the first half of the show, she’s being so consumed by how she’s perceived. After she kills the coyote, she’s like, ‘Fuck it. I’ve just got to win somehow. I’ve got to find my path to survival. So I thought it was quite liberating thing for her.”

    Before shooting, Isaac sat down with Lee to figure out who Josh is, and where he is in his career and marriage. “We started constructing the character together based on an initial idea of circumstances that happened in the show, and that was it was an incredible thing to do.”

    The exploration process with Lee was valuable to both Mulligan and Isaac in working out their respective backstories and understanding who their characters were and what drove them.

    When it came to Josh, who appears to be bad with money and desperate to hold on to his youth. Isaac says: “He got this vibe. I’m the young, cool, hip guy — everything’s fine. And then what he does at home, and the tension between those things was really fun to explore.”

    Josh’s attempts to achieve that young vibe is reflected at home. He’s got a mancave filled with memorabilia, and even owns a Moog synth that once belonged to his favorite band, Hot Chip. In Episode 2, he plays it — and he’s not great at it. A few episodes later, he’s up on stage, jamming with the band.

    Courtesy of Netflix

    Who Josh wants to be is also reflected in his hair — yes, that’s a mini-mullet he’s rocking. Issac worked with his hair stylist Tim Nolan who suggested that style. “It’s a perfect thing that again, speaks to somebody that’s trying to hold on to a particular image of youth,” Isaac says. “And one that shows a sense of relaxation and of energy — even though he’s just being strangled the entire time.”

    Josh starts stealing money from the club in order to maintain his lifestyle, and hold onto his image. “He cares more about identity and he wants enough money,” Isaac says. “He’s never going to be able to be a member of this club, but this is the closest he can get to it.”

    Josh, who’s surrounded by extreme wealth, feels a sense of entitlement — and he’s also been stealing money from his late mother’s bank account, “So he is already smudging the line there out of desperation,” Isaac says.

    “He feels he has the right to, like all the rich people, to get his own,” Isaac says. “Whatever that means.”

  • Apple avoids a second import ban for its redesigned smartwatches in latest court ruling

    Apple has secured a major victory for its redesigned smartwatches as per the latest decision from the US International Trade Commission. The federal agency ruled against reinstating an import ban on Apple Watches, allowing the tech giant to continue selling its devices with a reworked blood-oxygen monitoring technology.

    The ITC decided to terminate the case and refer to a preliminary ruling from one of its judges in March that claimed that Apple’s redesigned smartwatches don’t infringe on patents held by Masimo, the medical tech company that has long been embroiled in lawsuits surrounding the Apple Watch. Apple thanked the ITC in a statement, adding that “Masimo has waged a relentless legal campaign against Apple and nearly all of its claims have been rejected.” We reached out to Masimo for comment and will update the story when we hear back.

    The latest decision could offer some closure to the longstanding legal feud between Masimo and Apple. The patent battle dates back to 2021 with Masimo’s first filing against Apple that requested an import ban on Apple Watches. The ITC ended up ruling that Apple violated Masimo’s patents, resulting in the previous import ban and the Apple Watch maker redesigning the blood-oxygen reading feature in certain models. However, Masimo wasn’t satisfied with this conclusion and sought another import ban on the updated Apple Watch models. Now that the ITC has ruled against that, Masimo is left with the option to appeal the decision with the US Court of Appeals for the Federal Circuit.

    While Masimo may currently be on the losing side of this legal battle, it’s confronting Apple on multiple fronts. In November, a federal jury sided with Masimo and ruled that Apple has to pay $634 million in a separate patent infringement case.

  • SEC charges Bitcoin Latinum founder over alleged $16M investor fraud

    SEC charges Bitcoin Latinum founder over alleged $16M investor fraud

    The US SEC brought enforcement action against Donald G. Basile and his companies, GIBF GP, Inc. and Monsoon Blockchain Corporation, over a $16 million crypto securities offering tied to Bitcoin Latinum (LTNM), which Basile launched in 2020.

    According to the SEC, Basile, through GIBF and Monsoon, sold Simple Agreements for Future Tokens (SAFTs), promising future delivery of a token called Bitcoin Latinum, which ultimately failed.

    Regulators claim Basile misrepresented key aspects of the project, including nonexistent insurance coverage, false claims of asset backing, and misleading statements about how investor funds would be used to support the token ecosystem.

    The SEC also alleges that rather than using investor funds as promised, the entrepreneur misappropriated millions for personal uses, including real estate purchases, credit card payments, and a high-value horse.

    The project ultimately failed. LTNM was never properly launched or listed on major exchanges, activity ceased, and the token became worthless, leaving investors with major losses.

    The SEC charges GIBF and Monsoon with violating the anti-fraud provisions of federal securities laws and that Basile is directly liable as well as responsible for aiding the violations.

    The SEC is seeking permanent injunctions, repayment of ill-gotten gains with interest, civil penalties, and a ban preventing Basile from serving as an officer or director of a public company, along with other equitable remedies.