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MyConstant founder settles SEC charges for $10M over TerraUSD misuse

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With backing from Blockchain Capital and YZi Labs, BB Prime aims to become the go‑to on‑chain venue for structured RWA execution moving beyond passive holding to programmable, institutional‑grade deployment.
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CRYPTO WORLD
🚨 Crypto scam crackdown: India’s enforcement directorate seizes $48m in fake Coinbase sites

Crime. Image: Shutterstock/Decrypt
India’s Enforcement Directorate has just taken a major step in crypto enforcement seizing ₹42.80 crore (~$4.8 million) worth of assets linked to a scam involving fake “Coinbase” websites.
What happened?
▪️ Impersonators created fraudulent sites mimicking Coinbase, luring users with promises of easy crypto earnings.
▪️ Victims deposited money, only to be blocked or drained.
▪️ The ED traced the operation, froze bank accounts, and recovered crypto tokens.
Why it matters?
🚫 A sharp reminder: Phishing attacks remain crypto’s greatest weakness.
⚠️ India is getting serious about cyber crime and crypto regulation not just speculation.
🛡️ For users: Always verify URLs and never deposit funds without doing deep diligence.
Investors, builders, and crypto users should note:
Crypto innovation is real. Scam threat is realer.
This underscores the urgent need for:
▪️ Better KYC and exchange authentication protocols
▪️ Widespread education about scam prevention
▪️ Tech tools that help verify wallet legitimacy
Read more as compliance meets community: platforms that help users avoid phishing are going from nice-to-have to critical utilities in the crypto ecosystem.
MARKET MOVERS

(CoinDesk Data)
📊 DOGE: Dogecoin sank 5% over the past 24 hours, collapsing through the $0.205 support amid surging institutional selling. Volume quadrupled, a clear sign of capitulation and now traders are watching whether DOGE can hold above $0.198 or slip toward the next floor at $0.185.
🔻 XRP: Ripple’s token plunged 4.2%, painting lower highs with a dramatic 169M-coin volume spike over three times average and reversed sharply from a $3.08 intraday peak down to $2.93. Resistance now sits at $3.04, with support at $2.93, as bearish momentum tightens.
⚠️ SHIB / ETH / DOGE roundup: In a brutal session, Shiba Inu (SHIB) plunged as Ethereum stalled under $3,700 though there’s a twist and Dogecoin echoed the weakness in a wave of risk‑off sentiment. The broader meme‑coin sector is under pressure, testing investor conviction and strategy alignment.
CRYPTO FRONTIER

🌐 Hedge: Indonesia is exploring the idea of adding Bitcoin to its national reserves, even discussing using Bitcoin mining as a reserve‑grade strategy via its sovereign fund, Danantara. Proponents believe allocating up to IDR 300 trillion (~ $18.3 billion) in BTC could hedge inflation, cut reliance on foreign fiat, and strengthen economic resilience. This bold proposal signals a shift toward crypto-savvy fiscal policy.
⚖️ Settlement: The founder of MyConstant has agreed to pay over $10 million to settle SEC claims for misusing investor funds to purchase TerraUSD. He reportedly lost nearly $8 million, spread across disgorgement, interest, and a penalty. This marks one of the SEC’s recent enforcement actions tied to algorithmic stablecoin failure, underscoring ongoing regulatory scrutiny.
🧑⚖️ Dismissal: Former Binance CEO Changpeng “CZ” Zhao has filed a motion to dismiss a $1.7–1.8 billion lawsuit from FTX’s bankruptcy estate, aiming to claw back funds from a 2021 share repurchase deal. He argues the case lacks legal merit and jurisdiction, tightening the drama in one of crypto’s largest post-collapse litigations.
📜 Clarify: The SEC is revisiting how it treats liquid staking tokens, and offering rule clarifications into whether staking derivatives qualify as securities. This could resolve ongoing ambiguity around staking-based yield products and shape the future of crypto compliance frameworks.
CRYPTO SPECIAL
🧪 Semler's slow-money Bitcoin strategy: A buffer amid diagnostic industry pressure

Semler Scientific, known for its diagnostics business, has adopted a "slow-money" Bitcoin strategy, incrementally building crypto exposure to offset industry headwinds.
What they're doing?
▪️ Accumulating BTC gradually over time not lump sums or impulsive trades.
▪️ Aligning crypto blind purchases with business cash flow and diversification goals.
Why it’s smart?
▪️ Diagnostics firms face tightening margins and cycle-sensitive demand.
▪️ Bitcoin, despite volatility, acts as a hedge against fiat uncertainties and slowing diagnostics growth.
▪️ Gradual accumulation helps manage risk while capturing upside if BTC continues upward.
According to analysts at The Block, this measured approach could provide Semler with a “natural offset” to pressures in its core sector without overexposing its balance sheet.
Takeaways for founders and execs:
▪️ Crypto can be part of treasury diversification but only with disciplined execution.
▪️ “Slow-money” means managing volatility while preserving optionality.
▪️ This isn’t speculation, it’s an institutional strategy to match capital reserves with real-world uncertainty.
Whether you lead a biotech, fintech, or SaaS firm, think of crypto not as a shiny asset but as strategic ballast built in gradually, managed responsibly, and aligned with long-term financial goals.
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