News

Foresight News reports that on June 16, the United States District Court for the Eastern District of New York accepted a class action lawsuit against Magic Eden. Plaintiffs Jaime Pagan, Ariel Ruano, and Chris Sadowski accuse Magic Eden and its executives of making false statements while promoting the ME token, advertising it as an “ever-growing pillar of the online asset marketplace,” but failing to deliver on those promises and causing investors significant financial losses. Defendants include Magic Eden co-founders Jack Lu, Zhuoxun Yin, Sidney Zhang, Zhuojie Zhou, Euclid Labs Inc. (the operating entity of Magic Eden), the ME Foundation, and others. The case has been officially filed.

According to Odaily, on-chain analyst AiYi has monitored that a16z-related entities have not accumulated any HYPE for a week. In the past 5 hours, a total of 77,400 HYPE, worth $5.18 million, have been transferred to major exchanges. Although this entity frequently transfers coins to exchanges, the size is smaller than the amount it accumulates; over the past week, the price of HYPE has remained largely flat.

Foresight News reports that ZetaChain has issued an announcement stating it will gradually shut down traditional cross-chain infrastructure to focus on Anuma and next-generation directions such as user-owned memory, identity, permissions, payments, and AI agents.According to the transition plan, ZetaChain will decommission traditional cross-chain services in three phases: starting June 1 (the platform will completely stop deposits, but users may continue to withdraw eligible assets); before June 30 (offering users a final withdrawal window); starting June 30 (all ZRC20 token withdrawals will be suspended indefinitely, and cross-chain monitoring for Bitcoin, Ethereum, Solana, Arbitrum, Base, BSC, Polygon, Avalanche, Sui, and TON, across 10 chains, will be terminated).