Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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SEC sues Bitcoin miner Geosyn Mining for fraud; Bitbot presale nears $3M

  • SEC sues Geosyn Mining and co-founders for misappropriated funds and misleading investors.
  • Bitbot revolutionizes crypto trading with a non-custodial Telegram bot.
  • The $BITBOT presale nears $3M presale with the token poised to rise from the current $0.0171 to $0.018.

The Securities and Exchange Commission (SEC) has filed charges against Bitcoin miner Geosyn Mining, LLC, and its co-founders, Caleb Joseph Ward and Jeremy George McNutt, for allegedly defrauding investors out of $5.6 million.

Meanwhile, Bitbot, a non-custodial Telegram trading bot, is on the verge of hitting $3 million in its presale.

Let’s delve into the details of these developments.

SEC’s charges against Geosyn Mining and its co-founders

According to the SEC’s complaint, filed in a federal court in Texas, Geosyn raised approximately $5.6 million from over 60 investors between November 2021 and December 2022.

According to the U.S. SEC, the company allegedly misled investors by falsely claiming to purchase, maintain, and operate crypto mining machines, promising to distribute mined assets, such as Bitcoin, to investors for a fee. The SEC alleges that Geosyn made false claims about its contracts with electricity providers, failed to disclose that it never purchased some mining machines, and did not provide the services as promised.

Moreover, Ward and McNutt are accused of misappropriating about $1.2 million for personal use.

The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against Ward and McNutt.

Bitbot: a Telegram bot revolutionizing crypto trading

While the U.S. SEC goes after Geosyn Mining LLC,  Bitbot, an innovative non-custodial Telegram trading bot that aims to democratize crypto trading is making waves with its token presale.

Besides its token presale, Bitbot offers users institutional-grade tools in a secure and easy-to-use package, allowing them to trade directly from Telegram while maintaining control of their assets. It integrates with self-custodial wallets, ensuring users retain complete control over their keys and assets.

The platform employs KnightSafe, a decentralized security system, to safeguard trading activities. It provides a range of trading tools, including automated sniping, limit orders, copy trading, and yield optimization, accessible to users of all trading experience levels.

Bitbot presale nears $3 million

In recent developments, Bitbot’s presale is rapidly approaching the $3 million mark. The presale, which offers investors the opportunity to acquire $BITBOT tokens, Bitbot’s native utility coin, has garnered significant interest from the crypto community raising a total of $2,900,178 by the time of writing.

Investors can purchase the $BITBOT token at the current price of $0.0171 per token before the price increases to $0.018 in the next stage.

Investors can participate in the presale by importing or creating a smart contract wallet directly via Telegram and once the presale period concludes, investors can claim their $BITBOT tokens via Bitbot’s official website.

$BITBOT token holders stand to benefit from revenue sharing, exclusive presale access, unique perks, a say in Bitbot’s strategic direction through governance, and more.

Conclusion

SEC’s legal action against Geosyn Mining highlights the importance of regulatory compliance in the crypto industry, while Bitbot’s presale success underscores the growing demand for innovative trading solutions in the crypto market.

As Bitbot continues to revolutionize crypto trading, investors eagerly anticipate the platform’s future developments and expansion.

The post SEC sues Bitcoin miner Geosyn Mining for fraud; Bitbot presale nears $3M appeared first on CoinJournal.

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Arthur Hayes says macro setup favours Bitcoin bulls as KangaMoon attracts investors

  • Arthur Hayes is bullish on crypto amid the macro setup that he says could present a golden opportnity
  • He says altcoins as well as presale tokens may be worth a look at as crypto exits latest window of weakness
  • KangaMoon (KANG) is one of the new projects attracting huge attention as its presale noves towards a close

Arthur Hayes believes the crypto market is set to continue on the upside, pointing to the macro setup and the sovereign debt bubble. The Maelstrom family office head, is also bullish on altcoins and new token launches that he says present a “golden opportunity” after the recent crypto weakness.

With the market likely to flip bullish in coming months, could this be the time to take advantage of the KangaMoon (KANG) presale?

Arthur Hays explains bull market setup and potential opportunities

BitMEX exchange co-founder and former CEO Arthur Hayes is bullish on crypto rebounding after the recent dip, noting that prices could “get sillier on the upside.” This, he argued in his “Left Curve” blog post, could be a ‘golden opportunity” for investors to add to their positions.

In his opinion, the market is currently exiting “the window of weakness” that likely followed the April 15 US tax payments and the recent Bitcoin halving event.

While the factors that drove Bitcoin price from zero to $70k over the past decade may not be the same ones at play in the future, Hayes says the macro setup and the fiat liquidity surge that fueled BTC’s staggering gains can only get more pronounced, particularly as “the sovereign debt bubble begins to burst.”

“As we enter the northern hemispheric summer and decision-makers enjoy a respite from reality, crypto volatility will decline. This is the perfect time to take advantage of the recent crypto dip to slowly add to positions,” the BitMEX co-founder noted.

Altcoins pounded during the latest dump, new token launches and presales are all likely to offer great entry points. These opportunities could materialise over the next few months.

KangaMoon brings GameFi and SocialFi to meme world

KangaMoon (KANG) is a new SocialFi and play-to-earn gaming project currently in presale.

The project, which also taps into meme culture to spice up the epic game battles, has a strong pull due to what the native $KANG token offers to holders. With KangaMoon, the opportunities to earn more $KANG and other exclusive rewards are available right from the presale stage. 

Kangaverse is the GameFi platform’s ecosystem for contests and tournaments. $KANG holders can access these chances to earn more tokens through weekly, monthly and quarterly competitions and game challenges.

What makes KangaMoon a potentially great opportunity?

What makes KangaMoon a potentially great investment opportunity is its current presale price. $KANG’s value during the five stages of the token sale has increased from $0.005 to $0.0196, meaning early birds are looking at about 280% upside on the price.

However, the current price is also likely to be a great entry point given market predictions for Bitcoin and the altcoin sector. Analysts are also bullish on play-to-earn, while meme coins may see a new leg of interest.

A look at KangaMoon’s performance as stage 5 of the presale nears a close shows a great deal of confidence in the project from early investors. KangaMoon has raised more than $5.2 million so far, with the final stage 48% sold out.

Investors can take advantage of the 20% bonus available on all purchases to load up on what could be the next top big thing in SocialFi and P2E.

To learn more or buy $KANG, visit the official KangaMoon website.

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K33 Research cautions Mt. Gox’s imminent $9B payout could impact Bitcoin (BTC)

  • Gox to distribute 142,000 BTC and 143,000 BCH, valued at over $9 billion, to creditors.
  • The payout process could commence as early as next month.
  • All eyes are on the impact of the payout on Bitcoin and Bitcoin Cash price especially after the bitcoin halving event.

Mt. Gox, once a major player in the cryptocurrency exchange scene, faced a devastating hack in 2014, leading to its collapse. Now, nearly a decade later, the defunct exchange is preparing to distribute a significant sum of digital assets including approximately 142,000 Bitcoin (BTC) and 143,000 Bitcoin Cash (BCH), amounting to over $9 billion in total, to creditors.

This impending payout has prompted concerns among market observers, with K33 Research highlighting the possibility of a negative impact on the price of Bitcoin in a report released on Tuesday.

According to the analysts, the influx of Mt. Gox coins into the market could create downward pressure on BTC valuation in the coming weeks.

Possible implications for Bitcoin (BTC) price

K33 Research analysts have highlighted concerns that the influx of Mt. Gox’s digital assets into the market could exert downward pressure on Bitcoin’s price in the coming weeks. While creditors may not immediately liquidate their assets, the anticipation surrounding the payout could instil caution among investors, potentially dampening market sentiment.

Creditors recently received updates on their BTC and BCH claims, indicating that payments could commence sooner than initially anticipated. This development, coupled with the looming deadline set by Mt. Gox trustees for reimbursements, has intensified speculation within the crypto community.

Market observers remain divided on the potential impact of Mt. Gox’s payout on Bitcoin’s price. While some believe that creditors may opt to hold onto their funds, others fear that the sheer volume of digital assets entering the market could trigger a sell-off, leading to a temporary downturn in prices.

Despite the uncertainty surrounding Mt. Gox’s payout, the crypto market continues to show resilience in the face of external pressures. However, investors are advised to exercise caution and closely monitor developments related to the distribution process to mitigate any adverse effects on their portfolios especially according to the K33 Research analysts warning.

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BTCC Exchange’s Renaissance art and Bitcoin fusion fascinated Paris Blockchain Week attendees

  • Over 9,000 people showed up for the Paris Blockchain Week attendees.
  • The event was held at the Carrousel du Louvre.
  • The fusion of classical art and modern cryptocurrency served as a focal point of the event

BTCC Exchange made waves at Paris Blockchain Week with its innovative blend of Renaissance art and Bitcoin, captivating over 9,000 attendees at the prestigious event held at the Carrousel du Louvre from April 9 to 11.

Artistic fusion at Paris Blockchain Week

Paris Blockchain Week attendees were greeted by BTCC Exchange’s Renaissance-themed booth, adorned with a vibrant Mona Lisa backdrop and quirky reinterpretations of famous paintings from the era.

The fusion of classical art and modern cryptocurrency served as a focal point of the event, sparking conversations and garnering attention from industry professionals and enthusiasts alike.

Alex, Head of Operations at BTCC Exchange, emphasized the significance of intertwining historical art with the revolutionary concept of Bitcoin.

Drawing parallels between the enduring legacy of Renaissance masterpieces and the disruptive nature of cryptocurrency, Alex highlighted Bitcoin’s role in challenging traditional financial paradigms and reshaping global economic landscapes.

Alex further reiterated the exchange’s commitment to creativity and innovation, likening Bitcoin to the timeless artworks they paid tribute to. He said that just as Renaissance paintings have outlasted their contemporaries due to their innovative approaches, BTCC Exchange aims to leave a lasting impact by pushing the boundaries of conventional thinking in the crypto space.

BTCC Exchange not only showcased its creative prowess at the Paris Blockchain Week but also underscored its longevity and resilience in the competitive crypto industry. With a track record spanning over a decade and boasting an impressive zero security incidents record since its inception in 2011, BTCC Exchange continues to be a key player in the crypto exchange landscape.

BTCC Exchange anniversary in June

Following the success of its presence at Paris Blockchain Week, BTCC Exchange looks ahead to celebrating its 13th anniversary in June with promising partnerships and exciting news on the horizon.

With features catering to both beginners and experienced traders, including copy trading and up to 225x leverage for perpetual futures, BTCC Exchange remains at the forefront of the industry’s evolution.

As the world’s longest-serving crypto exchange, BTCC Exchange continues to demonstrate its creative and innovative spirit while staying true to its mission of providing a secure and user-friendly platform for cryptocurrency enthusiasts worldwide.

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JPMorgan CEO calls Bitcoin a ‘Ponzi Scheme’ despite JPMorgan’s involvement in Bitcoin ETFs

  • Jamie Dimon, JPMorgan CEO, called Bitcoin a “Ponzi scheme.”
  • Dimon’s criticism comes despite JPMorgan’s involvement in Bitcoin ETFs.
  • Bitcoin’s recent price volatility highlights ongoing debates in the cryptocurrency market.

JPMorgan Chase CEO Jamie Dimon has once again voiced his scepticism towards Bitcoin (BTC), dubbing it a ‘Ponzi scheme’ during an interview on Bloomberg TV.

During his interview, Dimon reiterated his long-standing criticism of Bitcoin, stating that it lacks utility and legitimacy as a form of money. He described Bitcoin and similar cryptocurrencies as “simply not functional as currencies,” emphasising his belief that they are essentially Ponzi schemes disguised as technological innovation.

However, this is not the first time that the CEO is criticizing Bitocin. His scepticism towards Bitcoin is well-documented. He previously called Bitcoin a “fraud” and expressed concerns about its potential to facilitate illegal activities such as money laundering, fraud, and tax evasion due to its anonymity and lack of regulation.

JPMorgan’s involvement in Bitcoin ETFs

It’s notable that despite Dimon’s vocal criticism of Bitcoin, JPMorgan has been actively involved in the cryptocurrency space.

The banking giant has served as an Authorized Participant for BlackRock’s spot Bitcoin exchange-traded fund (ETF) and has participated in several blockchain-based projects over the years.

Furthermore, despite Dimon’s scepticism towards Bitcoin, the CEO acknowledged the potential value of certain aspects of blockchain technology, particularly those facilitating smart contracts although  he maintained his stance that cryptocurrencies like Bitcoin lack inherent value as currencies, echoing his previous sentiments on the matter.

This juxtaposition highlights the nuanced approach within the banking giant towards cryptocurrency investments, even as its CEO expresses scepticism.

Bitcoin (BTC) price market reaction

Bitcoin’s market performance has been subject to fluctuations in recent times. At the time of writing, Bitcoin price was $64,741.28, after experiencing a 4.92% increase in the last day, but it was still down 8.41% over the past seven days.

Despite these fluctuations, Bitcoin’s market capitalization has recently surpassed $1.2 trillion, reflecting its continued growth and acceptance as an asset class.

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