ProBit Bits — ProBit Global’s Weekly Blockchain Bits Vol. 97

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 Polkadot Is Racing Into Indianapolis 500 With Their Crypto Branded Car

Polkadot, a blockchain founded by Ethereum Co-Founder Gavin Wood, is stepping into IndyCar racing by sponsoring Conor Daly at the Indianapolis 500. The partnership gathered support and approval through the Polkadot community with a 95.8% vote rating. This partnership will cover Conor Daly’s participation expenses totaling $2.1 million. Daly, a well known race driver with experience in IndyCar and NASCAR, was selected for his ability for speed and adaptability that aligns with Polkadot’s ethos. With crypto intersecting with motorsports like McLaren Racing’s collaboration with Tezos, highlights the potential for decentralization for both industries.

 Slothana Memecoin Presale Raises Over $10 Million In 2 Weeks

Memecoin season is still here with Slothana, a new Solana memecoin rapidly rising in popularity with over $10 million raised in 13 days, making it one of the largest ongoing Solana presales in history. The project has about 14,000 followers on X and thoroughly communicates with their community via their official website. Slothana’s community involvement has made it one of the most sought after memecoins as the team has demonstrated to adapt to road blocks and allowed their community to participate in surveys for listing preferences. While the popularity of memecoins has been ongoing for the past few months of 2024, do invest with caution as these digital assets are very volatile.

 Former Ethereum Adviser Files $9.6 Billion Lawsuit Against US Government

Steven Nerayoff, an early advisor to Ethereum has filed a $9.6 billion lawsuit against the U.S. government for false charges and mistreatment by federal agents from 2019 to 2023. Nerayoff accused agents of harassment, intimidation and fabrication of evidence during a legal battle that ended in May 2024 with dismissal of the case. Nerayoff’s lawsuit claims damages of reputation and business due to federal misconduct; he has hired lawyer Alan Dershowitz for consultation for his lawsuit. Previously, Nerayoff criticized Ethereum for alleged illegal activities and collusion with regulators, creating controversies and legal battles within the crypto community.

 Manhattan Courtroom Heats Up Over Alleged $100 Million Solana Scam

In an ongoing Manhattan trial, Avraham Eisenberg’s clashes with federal prosecutors over whether his alleged $100 million fraud on Solana DeFi platform Mango Markets constitutes criminal activity under U.S. law. Eisenberg’s lawyers argue that the prosecution fails to provide essential elements, such as the assets classification as commodities, however U.S. government attorneys believe that Eisenberg’s actions are relevant to traditional high-tech fraud. The alleged scam was manipulating Mango’s native token, resulting in insolvency and prompting legal action from regulatory bodies. This is a touchy debate as what actions are allowed in a marketplace should be deemed illegal even if such exploits are found.

 Sui Gaming Handheld Challenges Handheld Systems, Promising PC and Crypto Gaming Experience

Mysten Labs, the company behind Sui, has teamed up with Playtron to release the SuiPlay0x1 handheld gaming device at the Sui Basecamp event in Paris. The gaming handheld is slated for a 2025 release, running on Linux based Playtron operating system, allows compatibility with Sui blockchain games and even PC games from platforms such as Steam and Epic Games store. Playtron is redefining the gaming industry to support blockchain games where Steam and Nintendo limited support for blockchain games. Mysten Labs plans to provide a cheap entry point for the device to make it more accessible and hopes to attract new users to the crypto gaming ecosystem. Price of the device and any token rewards are yet to be announced.

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