Mark Young, a Solana investor, has filed a class action lawsuit against the Solana Foundation, CEO Antoly Yakovenko, co-founder Kyle Samani and others alleging that they sold Solana (SOL) cryptocurrencies without a security statement and that they promoted these cryptocurrencies despite that they are unregistered securities, according to various media sources.
“Solana Labs had its first public sale of SOL tokens in a ‘Dutch auction’ held in March 2020, which was tantamount to a first coin offering (ICO). Since April 2020, funded by the revenue they earned through its ICO, defendants have used “These promotions took SOL securities from a relatively obscure cryptocurrency to one of the best cryptocurrencies in the world,” the case document said.
Cryptocurrency prices
The global crypto market value fell by 1.69 percent to 1.24 trillion dollars at 8.50. However, global cryptocurrency volume increased by 35.54 percent to $ 85.95 billion, according to Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was traded at $ 21,561.64, down 1.9 percent in the last 24 hours. Ethereum (ETH) fell 2.84 percent to $ 1,214.37.
Among other significant coins, Cardano (ADA) was down 2.75 percent to $ 0.4708, Algorand (ALGO) was trading at a loss of 1.52 percent to $ 0.3179, Solana (SOL) was trading at a loss of 0 , 53 percent to $ 38.26, Polkadot (DOT) was down 3.3 percent to $ 7.09, and Binance Coin (BNB) was down 0.42 percent to $ 242.17.
Today’s biggest gain was Quant (QNT), which was up 15.78 percent to $ 73.69. The biggest loser was TerraClassicUSD (USTC), which fell 8.2 percent to $ 0.04788.
Meme coin and defi prices
Dogecoin (DOGE) fell 3.24 percent to $ 0.06927. Its volume to market value ratio is 0.04473. Rival Shiba Inu (SHIB) fell 1.2 percent to $ 0.00001115.
Dogelon Mars (ELON) lost 2.27 percent to trade at $ 0.0000003302, Floki Inu (FLOKI) lost 2.77 percent to $ 0.000006565, and Samoyed Coin (SAMO) lost 5.91 percent to $ 0.009014.
In the DeFi segment, YFI (yearn.finance) was down 4.29 percent to $ 6,393.46, and Terra Classic (LUNC) traded at a loss of 5.13 percent to $ 0.000108. Avalanche (AVAX) fell 4.11 percent to $ 19.77, Uniswap (UNI) traded 3.03 percent to $ 6.02, and Aave (AAVE) fell 1.54 percent to $ 72. $ 27.
