Odaily Planet Daily reports that the U.S. Department of Justice (DOJ) has announced that Taj Tarsha, founder of the NFT marketplace project Few and Far, has been formally indicted on charges of securities fraud and wire fraud. Prosecutors allege that he raised investment funds through false statements and used some of the funds for personal purposes, including gambling and luxury spending. The indictment shows that after an audit in 2023 discovered irregularities in the use of funds, Tarsha allegedly provided misleading explanations to investors, claiming that the expenditures were necessary for project development and maintaining the illusion of continued project operation. Subsequently, most of Few and Far's employees left, and project development essentially stalled. Furthermore, Tarsha is also accused of obtaining nearly $1 million in personal benefits from company funds through undisclosed bonuses and high-salary arrangements. Some of these bonuses were not disclosed to investors or the company's co-founders. Prosecutors allege that Tarsha raised over $10 million from at least 67 investors by selling approximately 95 million FAR tokens. However, after receiving funding, he allegedly failed to invest in the project as promised, instead using investor funds for online casinos, purchasing speculative crypto assets, paying off a Miami apartment loan, interior renovations, and personal DJ activities. The U.S. Department of Justice stated that funding for crypto startups does not mean circumventing traditional financial regulations, and investors have the right to accurate information about how the funds were used. Tarsha was arrested on June 6, 2026, and the case will be heard in the U.S. District Court for the Southern District of New York.

According to Odaily Planet Daily, Circle CFO Jeremy Fox-Geen responded to a question about whether there were plans to issue a quarterly dividend in the near future during tonight's earnings call, stating, "No, we have no such plans. Let me explain in context: as the world evolves from traditional systems to new internet financial services based on blockchain technology, we face a tremendous opportunity to become a leading internet platform company. As we have always emphasized, we want to maintain a strong balance sheet to ensure that we can continue to invest around this opportunity regardless of market cycles, and also to enable us to capitalize on significant opportunities when they arise. Therefore, we firmly believe that maintaining a strong balance sheet is the right thing to do, and we believe that the returns to shareholders from investing in the platform far outweigh those from paying quarterly dividends." Fox-Geen added, "Fundamentally, we are a growth stock with extremely high future market growth potential, not a capital return stock that currently repurchases shares or pays dividends to shareholders."

In the past hour, total liquidations across the network reached $10.67 million, with $1.94 million from long positions, with $8.73 million from short positions. BTC liquidation $4.64 million, ETH liquidation $5.19 million.