Bitcoin’s Bernie Madoff equivalent Trendon Shavers, the owner of Bitcoin Savings and Trust company, was arrested on wire fraud and securities fraud charges in Texas and the SEC are not likely to let him off with just a slap on the wrist.
According to the CEO of Pershing Square Capital Management Bill Ackman, Terra operated as a Ponzi scheme, and its crash could affect the entire crypto ecosystem.
O’Leary’s statement about Bitcoin being a Ponzi scheme follows a fake interview about the coin between Ryan Tubridy and Ryanair CEO on The Late Late Show.
This week we will get into the backstory behind the Quadriga Affair, take a look at another scam discovered in India, and finish with an examination of the accusations against Ripple and why they are important.
The Hong Kong Monetary Authority warned public against investing in digital currencies amid local media reports that a bitcoin exchange had run off with $387M in client funds.