Chain News by Thebittimes.Com

The blockchain-based investment note is issued on Avalanche and will automatically distribute profits to holders’ wallets. Neo- investment and technology firm Republic plans to issue a blockchain-based security token that will pay dividends to retail investors from profits across its broad portfolio of investment holdings. The Republic Note is a profit-sharing digital asset that will be launched on the Avalanche blockchain, which accrues profits generated from Republic’s wide-ranging investment portfolio and services. Republic has attracted over three million investors and has deployed over $2.6 billion into various ventures, including the likes of Web3 firms Avalanche, DappRadar and Dapper Labs. Republic has already carried out a presale round for the Republic Note, attracting over $30 million from individual and institutional investors. Dividends from the note are set to be paid out in USD Coin (USDC) to retail investors when the dividend pool reaches a threshold of $2 million. ...

The lawsuit alleged that these VC firms made many deceptive and misleading statements about FTX while encouraging customers to invest in the exchange for their personal gain. A total of 18 leading venture capital investment firms including the likes of Temasek, Sequoia Capital, Sino Global and Softbank have been named as defendants in a class action lawsuit filed in Miami for their links to now-bankrupt crypto exchange FTX. The lawsuit filed on Aug.7 alleged that these investment firms were responsible for 'aiding and abetting' FTX fraud . The suit claimed that the defendants in the case used their “power, influence and deep pockets to launch FTX’s house of cards to its multibillion-dollar scale”. Snippet of Cabo vs. Temasek Holdings lawsuit. Source: courtlistener.com The lawsuit noted that the FTX cryptocurrency exchange violated several securities laws and stole customers' funds while the defendant VC firms especially the likes of Temasek offered an illusive picture o...