In the midst of a legal dispute with the U.S. Securities and Exchange Commission (SEC) over Ripple’s alleged unlawful sale of $1.3 billion worth of XRP tokens, self-proclaimed “Satoshi Nakamoto,” Crai...
Tag: Ponzi
Roubini Lambasts Gemini and DCG as “Ponzi Cesspools”
Alex Dovbnya Nouriel Roubini has shared his take on the latest cryptocurrency “cat fight” between Gemini and DCG In a recent tweet, economist Nouriel Roubini opined that crypto exchange Gemini and ven...
A Reckoning for Crypto and FTX
To the Editor:I’ve been hoping for some sort of catalyst that would implode the crypto market, and it has finally happened (“The Crypto Ice Age Is Here. What’s Ahead for Bitcoin and the Stocks,” Dec. ...
DoJ charges nine in Crypto Ponzi Case.
IcomTech and Forcount were the firms involved in Ponzi ventures, promising false returns to victims. The Department of Justice has been very strict lately in the wake of FTX-like episodes. FTX former...
OneCoin’s co-founder pleads guilty to running crypto Ponzi scheme
OneCoin’s co-founder and the Cryptoqueen’s associate has pleaded guilty to running a Ponzi scheme. Millions were duped into purchasing a deceptive virtual currency that caused billions of dollars in s...
Russian Crypto Ponzi Firm Finiko’ Key Member Arrested in UAE
Bitcoin News Sabirov had been added to a worldwide wanted list in November. Marat Sabirov, one more of Finiko’s prominent representatives, is still at large. A key figure in the organization of Russia...
Leader of Suspected Russian Ponzi Scheme Is Arrested in UAE: Report
Finiko was popular in Russia in 2020-2021, marketing itself as a crypto investment fund. The company, which had been conducting public events and openly advertising itself, operated as a multilevel ma...
Former FTX users say the failed crypto exchange was a ‘Ponzi scheme.’ Here’s how those work, and what we know about how Sam Bankman-Fried operated
Until recently, Sam Bankman-Fried, or SBF, was crypto’s golden boy, known for building his cryptocurrency exchange, FTX, into a $32 billion giant in just two years. But the disheveled, left-leaning 30...
Former SEC official slams Tether for running a Ponzi scheme, labels firm as a ‘house of cards’
Former Securities Exchange Commission (SEC) enforcement official John Reed has questioned the implication of the alleged lack of transparency by USDT stablecoin provider Tether. According to Reed, who...
CZ Says Luna Collapse Very Different From ‘Ponzi’ FTX: Reason
CZ Comments On FTX Collapse: CZ made some interesting comments on the future of crypto at the Binance meet up Athens on Friday. The Binance CEO compared the evolution of the crypto ecosystem with the ...
Two Estonians Arrested for Running $500 Million Ponzi Scheme
Two Estonian Ponzi scheme fraudsters were arrested in Tallinn, Estonia, on Nov. 21, 2022, for duping investors out of $575 million. Sergei Potapenko and Ivan Turõgin lured victims through false crypto...
Ohio Investment Manager Arrested for Allegedly Running a $10M Cryptocurrency Ponzi Scheme
Rathnakishore Giri, a 27-year-old investment manager living in New Albany, Ohio, was arrested on Friday on criminal charges for alleging running a cryptocurrency investment scam that raised at least $...
Former US Regulator Likens FTX and Sam Bankman-Fried to Bernie Madoff and His Ponzi Scheme – Regulation Bitcoin News
Former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair likens the fall of crypto exchange FTX and its former CEO Sam Bankman-Fried to the infamous Ponzi Scheme of Bernie Madoff. “It fel...
Bitcoin traders increase leverage longs even as crypto critics say BTC is a ‘pure Ponzi’
Bitcoin (BTC) price has tested the $16,000 resistance multiple times since the 25% crash that occurred between Nov. 7 and Nov. 9, and some critics will justify their bearish bias by incorrectly assumi...
Assessing the details of this latest Ponzi scheme amid the current market state
A 27-year-old investment manager from Ohio was arrested on 18 November for allegedly running a crypto Ponzi scheme. This fraudulent cryptocurrency investment scam raised at least $10 million from inve...
Tucker Carlson on FTX: It was clearly a Ponzi
Fox News host Tucker Carlson has slammed FTX as a scam, one that was “clearly a Ponzi”. In the latest FTX-related cryptocurrency news, Carlson says that those charged with flagging it, and doing somet...
FTX founder accidentally described Ponzi scheme months before crash
Months before the cryptocurrency market crisis that followed the liquidity crunch at the crypto trading platform FTX, its now-former CEO had unintentionally described crypto staking or yield farming a...
Tom Brady, Gisele Bundchen, and Steph Curry among celebs sued over FTX ‘Ponzi scheme’
A number of high-profile celebrities, including comedian Larry David and tennis star Naomi Osaka, are suffering a hit to their reputations after endorsing the bankrupt crypto exchange FTX. Now, their ...
Former Kraken CEO Jesse Powell Says Mainstream Media Complicit in FTX ‘Ponzi’
Former Kraken chief executive Jesse Powell thinks the mainstream media shares some of the blame for the FTX fiasco that rocked the crypto world last week. Powell took aim at a New York Times article a...
Nayib Bukele Defends Bitcoin and Calls FTX a “Ponzi Scheme.”
El Salvador president Nayib Bukele compares the FTX exchange to a Ponzi scheme and hails Bitcoin’s scarcity and deflationary properties. Bukele lumped the Bernie Madoff case, Enron, WorldCom, and Sam ...
Cardano Founder Slams Ethereum Fans Who Called ADA “Ponzi Scheme”
Alex Dovbnya Charles Hoksinson took aim at the Ethereum community amid what appears to be the industry’s biggest crisis to date In a recent tweet, Input Output CEO Charles Hoskinson lashed out at prom...
Ripple CTO Says FTX Differs from Madoff’s Ponzi, But There’s a Catch
Yuri Molchan Ripple’s David Schwartz says that while many are comparing Sam Bankman-Fried to Madoff, there are “huge apparent differences” Chief technology officer of Ripple Labs David Schwartz, who i...
Ripple CTO Has This to Say On FTX Being A Ponzi
David Schwartz, the chief technology officer of Ripple Labs and a co-creator of XRP Ledger and XRP, has taken to Twitter to somewhat defend FTX founder Sam Bankman-Fried’s reputation of being called a...
Former EU commissioner involved in suspected crypto Ponzi scheme
John Dalli, former Maltese finance minister and former EU Commissioner for Health and Food Safety, has deep ties to a suspected Ponzi scheme that involves a crypto operation known as QuickX. The Malta...
SEC to Hunt Down Alleged Crypto Ponzi Scheme; Charges Founder and Promoters
The United States Securities and Exchange Commission filed charges against the founder and promoters of an alleged crypto scheme. On Friday, 4th November 2022, the agency announced charging Trade Coin...
SEC Charges 4 People in $295M Global Crypto Ponzi Scheme That Duped Over 100,000 Investors – Regulation Bitcoin News
The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles in a global cryptocurrency Ponzi scheme that duped more than 100,000 investors worldwide. The scheme raised mo...
SEC Charges Trade Coin Club for $295 Million Bitcoin Ponzi Scheme
The U.S. Securities and Exchange Commission today hit four people with charges for allegedly swindling investors out of nearly $300 million in a “fraudulent crypto Ponzi scheme.” In a Friday announcem...
Was Celsius just a Ponzi after all?
Crypto lender Celsius was one of the biggest casualties of the bear market. After halting withdrawals for months due to “extreme market conditions,” the distressed lender officially filed for Chapter ...
U.S SEC Reveals $295M Bitcoin Ponzi Scheme Fraud
Investors in Trade Coin Club were promised “minimum returns of 0.35% daily.” Tetreault has settled the SEC’s claims against him, the statement said. The U.S. Securities and Exchange Commission (SEC) a...
U.S. SEC Charges Four Individuals Behind Alleged $295,000,000 Crypto Ponzi Scheme
The U.S. Securities and Exchange Commission (SEC) is bringing charges against four individuals the regulator claims propped up a $295 million crypto Ponzi scheme. The SEC alleges Trade Coin Club (TCC)...