The Daily: Crypto.com sues SEC after receiving a Wells notice, Scroll unveils token launch plans and more
2024-10-09

Happy Tuesday! In today's newsletter, Crypto.com sues the SEC after receiving a Wells notice, Scroll unveils its token launch plans, Linea proposes its decentralization roadmap and more.
Meanwhile, a U.S. bankruptcy judge approved FTX's reorganization plan two years after the exchange's collapse.
Plus, get to know the candidates who could be named as Bitcoin creator Satoshi Nakamoto in tonight's HBO documentary at 9 p.m. ET.
Let's get started.
Crypto.com sues SEC after receiving a Wells notice
Crypto.com filed a lawsuit against the SEC on Tuesday, claiming the agency had overstepped its jurisdiction and left it with "no other choice."
Scroll unveils its token launch plans
Ethereum Layer 2 Scroll unveiled distribution plans for its upcoming governance token on Tuesday, in the zkEVM network's "first step toward decentralization."
A total of 1 billion SCR tokens will be distributed, with 15% reserved for community airdrops over the next 18 months, 25% for ecosystem projects, 20% for the Scroll DAO Treasury and Scroll Foundation and 40% for investors and contributors.
A screenshot, or the final date to use the Scroll protocol to qualify for the initial SCR airdrop, is set for Oct. 19, with the token launch date and airdrop claims set for Oct. 22.
Earlier on Tuesday, Binance announced it will launch pre-market trading for Scroll's native token starting on Oct. 11, claiming to be the first platform to do so.
Linea proposes its decentralization roadmap
Linea, another Ethereum Layer 2 ZK Rollup solution, backed by the web3 development firm Consensys, has proposed transitioning to a permissionless system for its zkEVM, including decentralized governance.
Fan token daily trading volume surpasses $1 billion
Fan token trading volume jumped 220% to more than $1 billion over the past 24 hours, while the category's market capitalization rose 16% to $348.5 million, according to CoinMarketCap data.
US spot Ethereum ETFs see another day of zero flows
U.S. spot Ethereum ETFs recorded zero flows on Monday following inflows of $7.4 million on Friday and outflows of $3.2 million on Thursday.
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