Kevin Reynolds

Texas Crypto Mining Firm And Co-Founders Face SEC Charges In $5M Fraud Allegations https://ift.tt/dLEHwes The US Securities and Exchange Commission (SEC) has taken legal action against Geosyn Mining, LLC, a Texas-based crypto mining and hosting company, and its co-founders, Caleb Ward and Jeremy McNutt, over allegations of engaging in unregistered and fraudulent activities. Geosyn’s Alleged Fraud Scheme According to the SEC, Geosyn, Ward, the company’s CEO, and McNutt, the firm’s then-COO, raised approximately $5.6 million from more than 60 investors between November 2021 and December 2022.  According to the complaint, Geosyn told investors it would purchase, operate, and distribute crypto assets mined by mining machines, such as Bitcoin (BTC), for an undisclosed fee.  However, the SEC alleges that the defendants made false claims, failed to disclose material information to investors, and failed to provide the services promised in their offering documents. The complaint also notes that Geosyn falsely claimed to have favorable contracts with electricity providers, supposedly ensuring the mining machines’ profitable operation.  Furthermore, the crypto mining company allegedly failed to disclose to new investors that they had not purchased mining machines for some previous investors, and they did not disclose that Geosyn was not fulfilling its stated services, including personalized mining strategies and 24/7 onsite monitoring.  The SEC also alleges that Ward and McNutt misappropriated approximately $1.2 million for personal use and distributed around $354,500 to investors as purported profit distributions despite Geosyn’s “lack of profitability.” The SEC has filed the complaint in the US District Court for the Northern District of Texas, charging the defendants with violations of antifraud and securities-registration provisions of federal securities laws.  Ultimately, the SEC seeks permanent injunctions against all defendants, officer-and-director bars, disgorgement with prejudgment interest, and civil penalties, specifically against Ward and McNutt. Crypto Users Warned By The FBI The US Federal Bureau of Investigation (FBI) has issued a warning to American citizens about using unregistered cryptocurrency money-transmitting services.  In a statement released by the FBI’s Internet Crime Complaint Center (IC3) on Thursday, individuals were cautioned against engaging with services that do not comply with federal law and fail to adhere to anti-money laundering (AML) regulations. The FBI emphasized the importance of using cryptocurrency money-transmitting services registered as Money Services Businesses (MSBs) and following the necessary protocols to combat alleged illicit financial activities conducted by these companies.  According to the Bureau’s statement, individuals who use unlicensed crypto money transfer services may experience “disruptions” to their finances during law enforcement actions, particularly if their ...

BlackRock’s BUIDL fund and Franklin Templeton’s FOBXX fund are leading the tokenization of RWA, utilizing public blockchains like #Ethereum and Stellar Lumens. https://wix.to/cDl5cF0 #BlackRock #RWA #Tokenization #RealWorldAssets #StellarLumens #DigitalAssets

New review by Peter Roady of Stuart A. Reid.'s _The Lumumba Plot: The Secret History of the CIA and a Cold War Assassination_. New York: Knopf, 2023. https://hdiplo.org/to/E571 "Stuart Reid’s engagingly written book explores Congolese politician Patrice Lumumba’s 1961 murder and the baleful consequences that followed, for the Congo, for the wider world, and for US foreign policy. Although much of the history Reid explores has received thorough treatment from other researchers, _The Lumumba Plot_ stands out for the broader insights that Reid draws from the history. Among these findings, two are particularly salient for members of the American national security establishment, who are one of Reid’s primary audiences. First, Reid argues that American covert action “tilted the Congo off its natural political axis, creating an artificial gap between what the country’s politics should have been and what they actually were” (429-430). This potential problem lurks behind every political covert action, and Reid deftly uses the Congo case to bring attention to it. Second, Reid argues that the language that policymakers and intelligence officials use to talk about foreign policy problems shapes the type of actions they consider. The baser the rhetoric, the more extreme the thinkable actions. This insight, too, has broad relevance for policymakers and for the American public in whose name they act...."

Mystery Signal Points To $100 Price Explosion https://ift.tt/3qyaleg Litecoin (LTC) defied the overall sluggishness of Proof-of-Work (PoW) coins this week, climbing 4% to a two-week high of $86 on April 26. This surge has rattled short sellers and ignited a potential short squeeze, with analysts predicting a bullish run towards the $100 mark. Litecoin Bulls Flex Their Muscle While other cryptocurrencies have struggled to gain momentum this week, Litecoin bulls have managed to push slightly ahead. This unexpected rally has added a significant $190 million to Litecoin’s market capitalization, showcasing a renewed investor interest in the digital silver. Market watchers attribute the surge to a confluence of factors. Firstly, a significant number of traders are betting big on Litecoin’s continued rise, evident in the overwhelming leverage applied in the derivatives market. Data from Coinglass reveals a bullish sentiment, with the value of long leveraged positions exceeding shorts by a notable margin. This optimistic outlook places immense pressure on short sellers, who stand to incur heavy losses if the price keeps climbing. Source: Coinglass Short Squeeze Looms As Price Eyes $100 The current price action suggests that a short squeeze might be brewing. Short sellers borrow LTC tokens, sell them at a higher price in anticipation of buying them back later at a lower price to pocket the difference. However, if the price goes up instead of down, they are forced to buy back LTC at a loss to cover their positions. This buying activity to mitigate losses further pushes the price up, creating a snowball effect. LTC is currently trading at $84.42. Chart: TradingView Analysts estimate that a mere 10% price increase, propelling LTC to $96, could trigger liquidations worth $16 million for short sellers. Conversely, bullish traders have amassed leveraged long positions exceeding $16 million around the current price point. This leverage disparity empowers the bulls to potentially drive the price towards the coveted $100 milestone in the coming days. Volatility Ahead: A Word Of Caution While the short-term outlook for Litecoin appears optimistic, experts advise caution. The current rally seems primarily driven by speculation and leveraged trading, not necessarily by fundamental advancements within the Litecoin ecosystem. This dependence on market sentiment makes the price susceptible to swings. If the bullish momentum fizzles out, a price correction could trigger significant liquidations of overleveraged long positions, causing a reversal. The coming days will be crucial in determining whether the bulls can maintain control and propel LTC to $100, or if the bears regroup and trigger a reversal of fortunes. Featured image from Pexels, chart from TradingView Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing...

Ethereum Spot ETF Saga: Grayscale Takes Bold Step With S-3 Form Filing https://ift.tt/v73N45G As optimism around Ethereum Spot Exchange-Traded Funds (ETFs) continues to dwindle, Grayscale Investments, the world’s leading digital asset manager, has filed an S-3 Registration Statement for its Ethereum Trust, marking a major advancement in its Ether investment services. Grayscale Ethereum Trust Sets Stage For Growth Popular Fox Business journalist Eleanor Terrett reported that the company filed the S-3 registration statement with the United States Securities and Exchange Commission (SEC), requesting to convert its Ethereum Trust into a spot ETH ETF.  According to Terrett, Grayscale’s Ethereum Trust product is already registered with the SEC, thus, it does not need to file an S-1 form like other ETH ETF issuers or applicants such as Van Eck, Blackrock, Ark Invest, Hashdex, Invesco Galaxy. With the recent filing, Grayscale has now submitted all the necessary paperwork for the regulatory watchdog to consider its ETH ETF application and provide a ruling. However, the document has not yet been made accessible to the general public. Terret also reported that the asset firm has filed for an S-1 mini Ethereum ETF under the ticker ETH, similar to that of its Bitcoin mini-me ETF filed under the ticker BTC. In March, the asset manager applied to the SEC for approval to spin out a portion of GBTC shares in order to launch the new mini-me BTC ETF. Specifically, Grayscale came up with the strategy to halt its ever-increasing GBTC outflows since the approval of BTC ETFs in the US. However, the mini-me Bitcoin ETF has yet to receive a green light from the agency. ETF Shares To Be Listed On NYSE Arca It is noteworthy that the company filed the S-3 form with the Commission under the Securities Act of 1933. The firm made the move after NYSE Arca filed Form 19b-4 for the Grayscale Ethereum Trust. With the approval of NYSE Arca’s application on form 19b-4 to list shares and the effectiveness of form S-3 to register the shares, Grayscale plans to list its ETH ETF on NYSE Arca under the ticker ETHE and issue shares continuously. These shares will be made available solely through a prospectus method. Although the shares have been registered with the SEC through a registration statement, they have not yet been deemed operational. Prior to when the registration statement takes effect, neither the shares nor purchase bids may be accepted, and any sale of these shares will be deemed unlawful. By submitting the S-3 registration statement, Grayscale hopes to improve regulatory compliance and lucidity for its ETH Trust. As a result, it will provide prospective investors with more assurance and clarity when negotiating the intricacies of cryptocurrency investments.  This move demonstrates Grayscale’s proactive response to the rising demand from institutional and retail investors for Ethereum exposure, enhancing its stand as a leader in the digital asset mark...

How do American Jews feel about the US abstaining from USNC vote https://ift.tt/3dbaGRz The Republican Jewish Coalition and the Zionist Organization of America both issued statements condemning the Biden administration‘s abstention on the United Nations Security Council resolution, calling it a “new level of betrayal” and “disgraceful.” In a statement, ZOA National President Morton A. Klein said it’s disgraceful that the Biden administration refused to veto the resolution. Klein accused the Biden administration of ignoring its own prior warnings that UNSC resolutions could hurt negotiations to halt hostilities and release hostages. “The Biden administration’s failure to veto the resolution enabled this anti-Israel/antisemitic resolution to pass. Calling for an ‘immediate ceasefire’ enables Hamas’ terror army to survive, regroup, and rebuild its ability to attack innocent Israelis again and again and again,” Klein said.  Klein said the resolution did not condition its call for a ceasefire on the release of all hostages and that Hamas would “of course” ignore the call to release or allow access to the hostages. Klein also noted the resolution failed to condemn Hamas – which is why the US said it abstained from the vote.  Only Israel is bound by the resolution, not Hamas “Thus, the resolution in effect only provides ammunition against the Jewish State of Israel,” Klein said. “But according to the UN – and the Biden administration, which enabled the UN’s duplicitous double standards – when terrorists attack Jews or Israel, the terrorists should be helped and defended instead of combatted by all means! This double standard has a name. It’s called antisemitism!“ PROTESTERS MARCH past the US Capitol Building in Washington last week, calling for a ceasefire in Gaza. (credit: REUTERS/LEAH MILLIS) In a statement, RJC CEO Matt Brooks said Biden must be “called out for his ineffectual UN diplomacy” before it does any more damage to Israel’s security and Israel’s relationship with the US.  Source link via POTPOURRINEWS https://ift.tt/3CgWfYx April 25, 2024 at 04:35AM

Here's what we know so far on CoD 2024 Black Ops Gulf War zombies early access and its pre-order content (based on rumors and leaks) #treyarch #cod #callofduty #blackops #activision #gaming #rumors #gamingnews #gamingupdates #videogamenews #videogameindustry https://lnkd.in/gPdiUZct