CSL

👀Crypto Firm Pleads Guilty to Manipulating FBI-Created Token

CLS Global (UAE) has pleaded guilty to volume manipulation and wire fraud in connection with its NexFundAI (NEXF) token, which was created by the FBI to detect cryptocurrency fraud.

Under the January 21 agreement, CLS was fined $428,059, forfeited assets on Binance and KuCoin, banned from trading cryptocurrencies involving U.S. investors for three years, and required to file annual compliance reports with the SEC.

NEXF was created by the FBI to attract fraudsters in price-inflating and dumping schemes. CLS admitted to facilitating volume manipulation through wash trading to defraud investors. This is the first time the FBI has used fake tokens to detect fraud.

#CSL #NexFundAI #SEC

Cardano Architecture: A Two-Layer Approach for Scalability and Flexibility! 🏗️⛓️

Cardano is built on an innovative multi-layer architecture that separates the blockchain functions into two main layers:

Cardano Settlement Layer (CSL):
Acts as the primary ledger that processes ADA transactions and stores balance data.
Provides high speed and security for token transfers.
Designed to ensure maximum stability and reliability.
Cardano Computation Layer (CCL):
Aimed at processing smart contracts and decentralized applications (dApps).
Allows customization of rules and functionality for various dApps, offering greater flexibility.
Can support various virtual machines for different smart contract programming languages.
The separation of these layers enables Cardano to process transactions with high efficiency while providing a flexible environment for smart contract development, ensuring scalability and security for the entire system.

#Cardano #ADA #CSL #CCL #Binance $ADA