With inflation and interest rates rising, the best-known cryptocurrencies have been hit with heavy and continuing losses. Bitcoin has lost more than 50% of its value this year; Ethereum, its largest rival, is down 65%. Total value of crypto assets has dropped to less than $1tn from its November 2021 peak of $3tn.

Class-action lawsuits are already in the works against the company. The company says it is working with the federal government to find a solution to the problem. The lawsuit is expected to be settled by the end of the year. For confidential support call the National Suicide Prevention Lifeline at 1-800-273-8255 or visit

Kim Kardashian and Floyd Mayweather Jr are being sued for alleged false statements promoting the minor cryptocurrency. The lawsuit alleges they encouraged followers to join “the EthereumMax community’ and that the token itself was a “pump-and-dump” scheme that deceived investors. Charles Randell, head of the UK’s Financial Conduct Authority, said in a speech to an economic crime symposium that he couldn't say if the particular token was a "scam"

Matt Damon made his debut as the pitchman in October last year. Earlier this month, the justice department charged Nathaniel Chastain, a former employee with NFT marketplace OpenSea, with wire fraud and money laundering in connection with a scheme to trade NFT [non-fungible tokens] assets.
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