Nike Slammed with $5M Lawsuit After Abrupt NFT Shutdown

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📈 Preview On Today’s News:

1. - Nike Slammed with $5M Lawsuit After Abrupt NFT Shutdown

2. - Crypto Controversy: Trump’s Memecoin Sparks Impeachment Demands

3. - El Salvador’s Bitcoin Gamble: Stability Without Sacrifice

Keep reading below for more!

Have you heard of The Forward Thesis?

Today’s News:

1)

Nike Slammed with $5M Lawsuit After Abrupt NFT Shutdown

Nike Inc. faces a class-action lawsuit filed in New York after its unexpected shutdown of the RTFKT NFT division in December 2024. Led by investor Jagdeep Cheema, plaintiffs allege losses exceeding $5 million, citing violations of consumer protection laws and misrepresentation. The sudden collapse left many NFTs unsellable and sparked broader concerns about the classification of NFTs as unregistered securities. Industry experts warn that this case could set a crucial precedent for future NFT regulations, especially as corporate-backed digital assets face increased scrutiny. Nike has yet to publicly respond, leaving investors and the market in uncertainty.

• Nike is being sued for over $5 million after abruptly ending support for its RTFKT NFTs, leading to sharp declines in value and investor losses.

• The lawsuit raises major legal concerns over whether NFTs should be classified as securities, potentially shaping future regulatory standards for digital assets.

2)

Crypto Controversy: Trump’s Memecoin Sparks Impeachment Demands

President Donald Trump is facing renewed impeachment calls after announcing a gala dinner for top investors in his personal cryptocurrency, the TRUMP memecoin. Democratic Senator Jon Ossoff labeled the move a “direct interaction sell,” calling it an “impeachable offense” due to the President monetizing direct access. Trump's deep ties to crypto projects — including stablecoins, bitcoin mining, ETFs, and other memecoins — have intensified ethical scrutiny. Following the announcement, the TRUMP token’s value surged by over 40%, with Trump and close associates reportedly controlling 80% of the token supply, valued at approximately $10.8 billion.

• President Trump is accused of an "impeachable offense" after offering a gala dinner to top TRUMP memecoin investors, raising major ethical concerns.

• TRUMP token's value surged 40% after the announcement, with Trump and allies reportedly holding around $10.8 billion worth of the supply.

3)

El Salvador’s Bitcoin Gamble: Stability Without Sacrifice

The International Monetary Fund (IMF) has confirmed that El Salvador remains committed to using Bitcoin as legal tender while refraining from integrating it into its fiscal sector. Despite its groundbreaking 2021 decision, the country maintains a cautious approach by separating Bitcoin from public finances, ensuring protection against the cryptocurrency’s volatility. This balance between innovation and fiscal responsibility strengthens El Salvador’s relationships with global financial institutions and preserves investor confidence, positioning the nation as a model for how countries can adopt crypto without undermining economic stability.

• The IMF verified that El Salvador is upholding its Bitcoin policy by keeping cryptocurrency out of the national treasury, safeguarding financial stability.

• By carefully managing Bitcoin adoption, El Salvador preserves strong ties with international institutions and sets a precedent for responsible crypto integration.

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