Helium Network Token Soars Following SEC's Dismissal of Legal Action Against Its Decentralized Wireless Network's Development Team
Daily Dish on Cryptos
Welcome back, folks! Let's dive into the latest crypto buzz.
Huge Win for Helium (HNT)!
The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Helium, the decentralized wireless network crypto project. This Solana-based protocol uses HNT, IOT, and MOBILE tokens for network growth, and the SEC was investigating if they violated securities laws[1][2].
In a recent social media post, Helium's developers announced that the SEC's lawsuit was dismissed, and the tokens are not classified as securities[2]. This means the project can continue expanding without the legal uncertainty of potential SEC action regarding securities laws[3]. The SEC asked Nova Labs, Helium's developers, to pay a penalty of $200,000 as part of the settlement[1].
The news sent HNT prices skyrocketing, going from a low of $2.62 on April 10th to a peak of $3.03 the next day. It has since pulled back slightly, trading for around $2.96 as of this writing[1].
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Industry Updates
- FLOKI and Rice Robotics launched an AI companion robot with token rewards[4].
- STEPN and the Argentina Football Association announced a new NFT drop[4].
- BYDFi partnered with Ledger to launch a limited edition hardware wallet[4].
- The team behind popular Telegram wallet Grindery revealed their hardware wallet infrastructure for AI agents[4].
- Common launched the first privacy web app with subsecond proving times for Arbitrum and Aleph Zero EVM[3].
- Falcon Finance launched a transparency page[3].
- Solstice Labs announced the upcoming USX launch, a Solana-native stablecoin built for transparent yield[3].
In the Spotlight
- Analyst predicts a real capitulation event for Bitcoin[5].
- Ethereum Foundation focuses on Ethereum scaling and user experience[5].
- Raoul Pal sees Bitcoin surging for the next 12 months, needing a weaker dollar to service debt[5].
- Galaxy Digital unloads Ethereum and accumulates Solana as $105,480,000 in ETH is deposited to Binance[5].
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[1] "U.S. Securities and Exchange Commission Drops Lawsuit Against Helium Network Creator Nova Labs," CoinTelegraph, April 12, 2025.[2] "Helium ($HNT) Skyrockets After SEC Drops Lawsuit," The Daily Hodl, April 12, 2025.[3] "Helium (HNT) Soars After SEC Dismisses Case Against Crypto-Based Decentralized Wi-Fi Network," MarketWatch, April 12, 2025.[4] "Industry Announcements – April 30, 2025," The Daily Hodl, April 30, 2025.[5] "Real Capitulation Event in Sight for Bitcoin, Warns Analyst Who Nailed 2022 BTC Collapse - Here Are His Targets," The Daily Hodl, April 23, 2025.
- The SEC's dismissal of its lawsuit against Helium, a decentralized wireless network crypto project, has removed a significant legal uncertainty for the project, allowing it to continue expanding using cryptocurrencies like HNT, IOT, and MOBILE.
- In the crypto world, Galaxy Digital recently unloaded Ethereum (ETH) and accumulated Solana as a significant amount ($105,480,000) of ETH was deposited to Binance, indicating a shift in focus from one cryptocurrency to another.
- As the crypto market continues to evolve, there are numerous developments taking place, such as FLOKI and Rice Robotics launching an AI companion robot with token rewards, STEPN partnering with the Argentina Football Association for a new NFT drop, and BYDFi partnering with Ledger to launch a limited edition hardware wallet.
- The Ethereum Foundation is currently focusing on Ethereum scaling and user experience, while Raoul Pal sees Bitcoin surging for the next 12 months, needing a weaker dollar to service debt.
- To stay updated on the latest news and trends in cryptocurrency, blockchain, and finance, it's crucial to follow reliable sources like The Daily Hodl on Telegram, Facebook, and other platforms, and to subscribe for email alerts.
