Aussie Billionaire Sues Facebook Over Cryptocurrency Scam Adverts – February 3

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $36,651

Bitcoin price has dipped into the $36,000s as price continues to slowly trickle from the highs of its recent recovery.

Top-20 altcoins have continue to slide, as Ethereum falls 3%, BNB drops 2% and Solana suffers a 9% loss.

Top Stories for February 3, 2022 πŸ”₯

πŸ‘‰ Aussie Billionaire Sues Facebook Over Cryptocurrency Scam Adverts

Australian billionaire Andrew Forrest is taking Facebook to court over cryptocurrency scam adverts, which used his image to part victims from their money.

Forrest alleges that Facebook failed to stop the circulation of the scam ads that featured himself and other celebrities or public figures. It may be the first time Facebook faces a criminal charge anywhere in the world.

πŸ‘‰ Solana’s Wormhole Bridge Replenishes Reserves After $325M Hack

Solana’s “Wormhole” bridge has had more than $320 million in reserves restored from an unknown source, shortly after suffering crypto’s fourth-largest hack of all time.

The protocol lost 120,000 Ether (ETH) in the attack yesterday, thanks to an exploit that allowed the hacker to spoof guardian signatures and create fraudulent ETH tokens on Solana.

πŸ‘‰ Tezos Validator Pushes For Staking Policy Change In IRS Court Battle

Two Tezos network validators have declined a refund of the taxes they argue were incorrectly paid on staking rewards in 2019, instead pushing for a result that may change policy.

Joshua and Jessica Jarrett argue that staking rewards should be classified as “created property” rather than taxable income. The distinction would result in staking rewards not being taxed until they are sold, rather than when they are obtained.