Weekly Cryptalk #20:
This week, the FBI announced it is seeking potential victims of the cryptocurrency Ponzi scheme . BitConnect was a cryptocurrency and lending platform released in 2016 which promised high interest rates on loans. At its peak, the Ponzi scheme was worth an astounding $2.5 billion dollars. We’ll revisit BitConnect, examine where it went wrong, and see where the FBI investigation is headed – a year after the pyramid stratagem collapsed.
Gladius, a DC based company focused on renting spare internet bandwidth and issued a token, is now charged with conducting an unregistered ICO, in which it raised $12.5 million. However, since Gladius self-reported to the Securities and Exchange Commission, it has avoided penalties. We’ll discuss about this case and learn about how the SEC is opening a window for troubled ICOs to come clean.
Finally, Samsung (KS:) Electronics (OTC:) has announced that its new flagship smartphone, the S10, will have “secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.” Though there are many things we as yet don’t know about this next generation device, could this be the big mainstream break crypto has been waiting for?
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