A US judge in California has allowed lawsuits in four US states, New York, California, Florida and New Jersey, against celebrities, including boxer Floyd Mayweather Jr. for promoting the cryptocurrency token EthereumMax. The other celebrities include Kim Kardashian and Paul Pierce.
The judge said that applying one state’s laws to the entire country could cause legal problems and that the facts might not be the same for everyone involved.
Investors claim these endorsements in 2021 pushed the price of EthereumMax sharply higher before its collapse. The token’s value reportedly rose more than 100,000 percent within a week and then fell by over 99 percent.
Cointelegraph reported that Kim Kardashian had previously settled with the US Securities and Exchange Commission (SEC), paying more than $1 million for promoting EthereumMax without disclosing she had been paid for it.
Ether Shorts Worth $105 Million Liquidated As Price Tops $4,000
Ether’s price rose above $4,000 for the first time since December 2024, leading to the liquidation of about $105 million in short positions. These accounted for more than half of all cryptocurrency short liquidations recorded that day.
The price briefly touched $4,060, gaining around 4.60 percent in 24 hours, before settling near $4,015. The rally drew a reaction from US President Donald Trump’s son Eric, who posted on X (formerly Twitter) that it made him happy to see Ether short sellers lose money and warned against betting against Bitcoin and Ether.
Some traders now see $4,100 as a key resistance level. If Ether crosses that point, it could trigger a short squeeze, pushing the price as high as $4,400 or $4,500 within hours.
Market sentiment has turned more optimistic, with traders citing stronger institutional interest and rising demand for Ether exchange-traded funds (ETFs). In the past four trading days alone, spot Ether ETFs recorded inflows of about $537 million.
CrediX Finance Team Missing After $4.5 Million Hack
The team behind the decentralised finance (DeFi) protocol CrediX Finance has gone silent after a $4.50 million hack. The protocol’s website is offline and deposits have been stopped.
Blockchain security firm SlowMist said attackers gained access to the project’s multisig admin and bridge wallets about six days before the theft. They allegedly used this access to mint tokens and drain liquidity pools.
A day after the exploit, CrediX posted on social media that they had reached an agreement with the attacker. The post, which has since been deleted, claimed the stolen funds would be returned within 24 to 48 hours in exchange for a payment from CrediX’s treasury. Users were told they would be reimbursed through an airdrop.
Cointelegraph reported that the project’s communication channels, including its website, X account, and Telegram group, have disappeared. Stability DAO has since identified two CrediX team members and is preparing a legal report. They are also working with other affected projects, such as Sonic Labs, Euler, Beets, and Trevee, to collect evidence, trace the stolen funds, and contact authorities.
