The Great Crypto Grift May Be Unwinding

Last week, federal prosecutors arrested a fifty-year-old Long Island man and accused him of defrauding hundreds of investors by offering them gains of five per cent per week—yes, per week—from a fictional crypto-trading platform. “Eddy Alexandre allegedly induced his clients to invest over $59 million with promises of huge passive income returns,” Damian Williams, the U.S. Attorney for the Southern District of New York, said, in announcing the indictment.

The day before Alexandre’s arrest, Europol, the E.U.’s law-enforcement agency, placed Ruja Ignatova, the German inventor of the OneCoin cryptocurrency, on its most-wanted list, for “having induced investors all over the world to invest in this actually worthless ‘currency,’ ” which has produced a total loss that “probably amounts to several billion” dollars. Earlier this year, the F.B.I. arrested a New York couple and accused them of helping launder billions of dollars in stolen bitcoin.

But, ever since big money got in on the crypto game—venture-capital firms, hedge funds, and, lately, some of the big Wall Street banks themselves—there has been a great deal of expensively produced puffery and flimflam surrounding the entire industry, encapsulated by the “Don’t Miss Out on Crypto” ad for the FTX trading platform, which featured Larry David and ran during the Super Bowl.

JohnCassidy ALL crypto 'currencies' are zero sum Ponzi/pyramid schemes! For grifters and 'greater fools' (not mutually exclusive) only.

JohnCassidy A few months ago, I found out that there was a Bitcoin ATM close to my home. I thought about it and decided that, if I wanted to lose money, I could achieve the same result by feeding bills into my paper shredder.

JohnCassidy El Satanismo, desbordado x nuestro Ascenso y Preponderancia; está aumentando el Cerco y la Intensidad de su Acoso a los Justos. Hemos de proteger nuestra Positividad/Ánimo. Cuidando nuestros hábitos. Buscando lo Puro y Natural. Buscando espacios de Paz y Resistiendo la Adversidad

JohnCassidy Hi Ben, This is a way of television and the system itself to destroy a new way of economics

JohnCassidy All zero sum Ponzi/pyramid greater fool schemes will have to come to an end, eventually...

JohnCassidy It's Tom Brady's fault

JohnCassidy USA: 'You'd think that some nefarious foreign power was floating all these fraudulent cryptos just to damage America's investigation into digital currency.'

JohnCassidy After media hyped cryptocurrencies for at least six years when they were obviously fraudulent.

JohnCassidy Some of us accept that a financial organism as complex as crypto will have birthing pains. That is why we look forward to an element of regulation to help calm the winds. I recall that the miracle of 'Obamacare (ACA) was declared DOA after 24 hours...

WIRED JohnCassidy OK, boomers.

JohnCassidy 'the new hires would investigate securities-laws violations related to 'Crypto asset offerings; Crypto asset exchanges; Crypto asset lending and staking products; Decentralized finance (‘DeFi’) platforms; Non-fungible tokens (‘NFTs’); and Stablecoins.'” Go get 'em Brandon!

JohnCassidy 'The Department of Justice ... has set up a new cryptocurrency-enforcement team, and the Securities and Exchange Commission announced earlier this month that it is doubling the size of its cyber division.' No wonder they love Trump and hate Biden.

JohnCassidy Cue hordes of crypto-trolls and spambots.

JohnCassidy Stupid article with little understanding of bitcoin, crypto, and a faulty software.

JohnCassidy get them clicks, girl

JohnCassidy Put a pin in this article. It won't age well.

JohnCassidy سرقة السائل الدماغي المحتوي علي هرمون الدوبامين والسراتونين المستخدم في التخاطب والتخاطر عن بعد والمستخدم في البحث عن الأسلحة وأدوات الحرب القديمة وثروات العالم القديم - الانترلوب للفنان نور الشريف القرد بيطنطط ليه - للصوص لكن ظرفاء - احمد مظهر و عادل امام قصدي ولاد الكلب الحرميه

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