According to CryptoPotato, David Kagel, an 85-year-old former attorney, has confessed to participating in a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, once a respected legal figure in Beverly Hills, California, now faces a maximum of five years in prison for his role in the fraudulent operation. Kagel was accused of working with others to entice victims into a bogus crypto investment scheme that promised high returns. Court documents show that the scheme involved false guarantees and assurances, including claims that artificial intelligence trading bots were managing investments in cryptocurrency markets. The scheme's promoter falsely assured victims that Kagel, acting as the promoter’s attorney, was holding approximately $11 million worth of Bitcoin in escrow as a safeguard against potential losses. Kagel also provided letters on his law firm’s letterhead to falsely confirm the legitimacy of the investment programs. Principal Deputy Assistant Attorney General Nicole M. Argentieri stated that Kagel exploited his attorney status to gain investors’ trust and endorse false claims about a cryptocurrency investment that turned out to be a scam. She highlighted the serious consequences of lawyers lending credibility to fraudulent schemes, which can lead to significant losses for victims. 'Kagel preyed on trusting individuals through a complex scheme to separate people from their hard-earned money,' said Special Agent in Charge Tyler Hatcher. Kagel's guilty plea is a significant development in the ongoing investigation. His sentencing is scheduled for September 10. Pending a decision by a federal district court judge, he faces a maximum penalty of five years in prison. Kagel has also admitted that he and his co-conspirators used victims’ funds for personal gain. The legal proceedings continue, with David Gilbert Saffron of Australia and Vincent Anthony Mazzotta Jr. of Los Angeles awaiting their August 13 trial for their alleged roles in the same crypto Ponzi scheme. They are accused of promoting investment programs using aliases such as Circle Society, Bitcoin Wealth Management, Omicron Trust, Mind Capital, and Cloud9Capital. Instead of investing the victims’ funds into cryptocurrency as promised, they allegedly used them for personal expenditures, including private jet flights, luxury hotel stays, mansion rentals, hiring a personal chef, and private security guards.

The BTC-friendly president of El Salvador, the first country in the world to declare Bitcoin as its official currency, has begun his second term. Continue Reading: Bitcoin Bull Nayib Bukele is President of El Salvador Again: Here’s How Much BTC His Country Owns source: https://en.bitcoinsistemi.com/bitcoin-bull-nayib-bukele-is-president-of-el-salvador-again-heres-how-much-btc-his-country-owns/

ビットコインのソースコードがオンラインで配布されてから15年が経った。そのアイデアは、仲介者がその取引を承認する必要なく、人々が価値を交換する方法を提供すること ... The post 暗号資産と伝統的金融（TradFi）の融合、進化か憂鬱か first appeared on CoinDesk JAPAN（コインデスク・ジャパン）. source: https://www.coindeskjapan.com/234727/

The government seeks a collaboration to research and develop the technology further. source: https://cointelegraph.com/news/us-navy-launches-paranoid-blockchain-cyber-security-tech-private-sector

The Bitcoin meme coin protocol cooled off quickly after its explosive debut. But institutional investors in Asia are uniquely optimistic about Runes' long-term potential. source: https://decrypt.co/233430/bitcoin-runes-resurgence-asia-institutional-investors

At the recent Consensus 2024 conference (held May 29, 31, 2024, in Austin, Texas), Ripple CEO Brad Garlinghouse made headlines by directly criticizing Dogecoin, questioning its value and use case. Dogecoin (DOGE) began as a parody cryptocurrency created by software engineers Billy Markus and Jackson Palmer in December 2013. Initially intended as a joke, it […] source: https://www.cryptoglobe.com/latest/2024/06/ripple-ceo-dogecoin-doge-has-not-been-a-good-thing-for-the-crypto-industry/

A veteran trader with a history of several accurate macro crypto calls is revealing what he thinks could be the maximum upside price target for Bitcoin (BTC) this market cycle. Pseudonymous trader Dave the Wave shares with his 146,000 followers on the social media platform X a chart using his version of the logarithmic growth […] source: https://dailyhodl.com/2024/06/02/trader-that-called-may-2021-crypto-collapse-unveils-potential-max-target-for-bitcoin-bull-market-top/

Ripple’s XRP token has experienced substantial activity over the past 24 hours, drawing attention from the crypto community. Blockchain tracker Whale Alert reported the transfer of 3 billion XRP tokens, valued at approximately $1.5 billion, in several transactions. This large-scale movement has sparked concerns about potential price impact. Ripple Escrow Activities Triggers Market... source: https://beincrypto.com/ripple-xrp-escrow/

리플의 XRP 토큰이 지난 24시간 동안 상당한 활동을 보이며 암호화폐 커뮤니티의 주목을 받고 있습니다. 블록체인 트래커인 고래 경고는 약 15억 달러에 해당하는 30억 개의 XRP 토큰이 여러 거래에서 전송되었다고 보고했습니다. 이러한 대규모 움직임은 잠재적인 가격 영향에 대한 우려를 불러일으켰습니다. 리플 에스크로 활동으로 촉발된 시장 우려 일반적으로 리플은 매월 초에 에스크로 지갑에서 약 10억 개의 XRP 토큰을 릴리스합니다. 하지만 이번 달의 이례적인 자산 이동은 커뮤니티를 놀라게 했고, 이러한 거래에 대한 다양한 추측을 불러일으켰습니다. 암호화폐 평론가 마티 파티는 30억 개의 토큰이 XRP 총 유통량의 5.45%에 해당하며 30분 이내에 리플 계열... source: https://kr.beincrypto.com/base-news/59848/

リップル社のXRPトークンは過去24時間の間に大きな動きを見せ、暗号資産コミュニティから注目を集めている。 ブロックチェーントラッカーのクジラ・アラートは、複数の取引で約15億ドル相当の30億XRPトークンが送金されたことを報告した。この大規模な動きは、潜在的な価格への影響についての懸念を呼び起こした。 リップル社のエスクロー活動が市場の懸念を誘発 通常、リップル社は毎月月初に約10億XRPトークンをエスクローウォレットから放出します。しかし、今月の異常な資産の動きはコミュニティを驚かせ、これらの取引に関する様々な憶測につながった。 暗号資産コメンテーターのMarty... source: https://jp.beincrypto.com/ripple-xrp-escrow/

Meme, Crypto Market, Market, Is MeMe Coin Really Swallowing VC Coins? Golden Finance, We are here to invest, not to gamble.

In May, most indicators of the cryptocurrency market fell. This article will use 11 charts to interpret the status of the cryptocurrency market in the past month.

Doodles got full marks, BAYC was excellent, Fat Penguin performed poorly, and Moonbird was at the bottom... Did the results meet your expectations?

On June 1, Children’s Day, the Hong Kong Securities and Futures Commission gave the virtual asset market a big gift.

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance. Its content covers the week's key news, mining information, project dynamics, technological progress and other industry dynamics.

ETH has never had a stable token economic model, let alone a "hundred-year plan" with a strict, concise, and elegant issuance formula like BTC.

The crypto market needs to attract the masses, such as new consumer applications such as Fantasy Top and Polymarket. Farcaster and Lens are potential platforms that can reward early users through airdrops.

Mass Adoption is an ongoing narrative theme in the Web3 space, and its core goal is to migrate the huge user base accumulated by the Web2 platform to the Web3 ecosystem.

This week, 28 blockchain startups raised $169.7 million in funding. The largest round was raised by Babylon, which raised $70 million. 13 projects received seed and pre-seed funding, and 15 projects received other rounds of funding.

SocialFi application developers need to own multiple layers of the SocialFi stack in order to build defensibility into the protocol.