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Yuga Labs Files a Lawsuit Against Old Critic

Yuga labs have filed a lawsuit against old critic Ryder Ripps in a 43-page testimony in California. They claim that Ripps has been "scamming" buyers with falsely equivalent NFTs attempting to harm the standing of the apes in the NFT marketplace.

The lawsuit states that “This is no monkey business… These actions are calculated, intentional, and willful with the stated purpose of causing actual and monetary harm to Yuga Labs and to the holders of authentic Bored Ape Yacht Club NFTs.”

Ripps started the campaign against BAYC back in January when he created a website called gordongoner.com.

Gold Rises as G-7 Nations Plan to Ban Bullion Imports From Russia

Yesterday we mentioned President Biden announcing the gold ban in Russia. Here is Danny Diekroeger's opinion on this situation: "If people can't source their gold from Russia anymore, they may look to take delivery from the western fractional exchanges, putting pressure on the system as described above.

Increased friction in sourcing gold leads to a consistent rise in the price of gold, bringing it to new highs, etc. Then at one point on a delivery date in the futures market, one of the big western exchanges fails to deliver physical gold to a big paper holder who is requesting delivery."

Jim Cramer Warns Investors From a Company Going Public Next Week

CNBC’s Jim Cramer on Friday told investors to stay away from Ivanhoe Electric, a mining technology company that is expected to sell its shares in an initial public offering next week.

“Even if … Ivanhoe Electric gets out the door next week, I think you should avoid it. This is not the time to bet on an extremely early-stage copper mining technology play,” the “Mad Money” host said.

The company, owned by mining billionaire Robert Friedland, plans to offer roughly 14 million shares priced between $11.75 to $12.50 each, according to a Securities Exchange Commission filing. The deal, originally expected to close this week, is now set to close next week, reports IFR.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.