Decentral Block Post

The recent flood of scam tweets on pro-XRP lawyer Jeremy Hogan’s hacked account has finally dried up after nearly four days.

Since July 24, the XRP community has been diligently warning others and tagging Twitter’s support after they noticed Hogan’s account tweeting malicious links for a purported XRP (XRP) giveaway.

As of 1 am on July 28, all of the XRP-giveaway-related tweets have been deleted, suggesting Hogan has either regained access to his account or that Twitter support has finally intervened.

The last tweet sent out from Hogan’s account — now deleted — said that he was “feeling so generous” and offered to return double the amount of XRP sent to his address.

On-chain data shows the mentioned address managed to gain 784 XRP in three hours, amounting to approximately $561 at current prices. It was sent in by 12 users.

Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players.

According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with its ecosystem fund — to better reflect changed market conditions.

The cryptocurrency fund will now focus more on backing early-stage startups, given the recent crypto industry turmoil that took away many of the opportunities to back larger companies.

Another motive behind the cuts is to lower the capital threshold and thus the barrier to entry for investors to partake in Sequoia’s fund offerings, according to the sources.

“We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners,” reportedly said Sequoia in remarks to the Financial Times. The firm added it had returned more than $15 billion to investors over the past three years.

The latest legal action against Block.one (B1) — the creator and original seller of Eos (EOS) — could potentially help plaintiffs get a higher compensation, according to EOS Network Foundation (ENF) founder and CEO Yves La Rose.

On July 25, La Rose officially announced that ENF is preparing a lawsuit against Block.one for its failure to follow through on its $1 billion following its $4.1 billion raise in 2018.

The CEO argued that Block.one’s broken promises to invest $1 billion caused major issues for the EOS community and promised to hold the firm accountable.

As many investors have already been part of another class action against Block.one, a number of those might need to opt out of their current lawsuits, La Rose said.

“They would do that if they aren’t satisfied with the current settlement offer and believe their interests are better suited by opting out, which is a common practice,” the ENF founder told Cointelegraph.