Gotbit founder to forfeit $23m in crypto in exchange for no prison time as part of plea deal

Alex Andryunin has agreed to hand over $18.7 million in USDT and $4.2 million in USDC Andryunin faced up to 20 years in prison and a fine of $250,000 for his actions As part of the plea deal, he now faces a reduced sentence of up to 24 months and 36 months of supervised release […]

The post Gotbit founder to forfeit $23m in crypto in exchange for no prison time as part of plea deal appeared first on CoinJournal.

View Details

Gobit Founder Extradited to U.S. on Market Manipulation Charges

Gotbit founder has been extradited from Portugal to the United States to face charges of wire fraud and conspiracy to commit market manipulation.

The post Gobit Founder Extradited to U.S. on Market Manipulation Charges appeared first on Kanalcoin.

View Details

Gotbit Founder Extradited to the United States to Face Charges of Market Manipulation and Fraud

Gotbit Co-Founder Extradited to USA to Face Fraud Allegations In a recent development, the co-founder of Gotbit has been extradited to the USA to answer to charges of fraud. This move comes after months of investigation into the company’s activities. Gotbit, a prominent player in the cryptocurrency market, has been under scrutiny for its alleged [...]

The post Gotbit Founder Extradited to the United States to Face Charges of Market Manipulation and Fraud appeared first on Crypto Breaking News.

View Details

Gotbit Founder Extradited to US to Face Market Manipulation and Fraud Allegations

The cofounder of Gotbit has been extradited to the United States to face charges of fraud. This development marks a significant step in the legal proceedings against the individual responsible for the alleged financial misconduct. Gotbit, a prominent player in the cryptocurrency industry, has come under scrutiny in recent months due to various accusations of [...]

The post Gotbit Founder Extradited to US to Face Market Manipulation and Fraud Allegations appeared first on Crypto Breaking News.

View Details

Founder of Gotbit Extradited to the US to Face Charges of Market Manipulation and Fraud

The founder of Gotbit has been extradited to the USA to face charges of fraud. This move comes after a prolonged legal battle and extradition process. Gotbit, a prominent player in the crypto space, has been at the center of controversy for alleged fraudulent activities. The extradition of Gotbit’s founder to the USA underscores the [...]

The post Founder of Gotbit Extradited to the US to Face Charges of Market Manipulation and Fraud appeared first on Crypto Breaking News.

View Details

SEC, FBI, DOJ coordinate takedown of 4 fraudulent crypto firms

A complex set of overlapping companies, individuals and alleged crimes have been tackled by US federal authorities.

View Details

Turbo Team Selling After The AI Meme Coin Flies To New All-Time High: Time To Exit?

Turbo is trending at around all-time highs. The upswing started in mid-September and initiated a move up that saw the AI meme coin break above local resistances, which is now supported and propelling valuation to record highs. At press time, TURBO is changing hands at $0.010 but is down nearly 20% from this week’s highs. Turbo Team Selling: Time To Exit? According to Lookonchain analysts, the retracement from all-time highs at $0.013 early this week could be primarily due to the team dumping. The team has been sending tokens to Binance and OKX, leading to concerns about whether they are exiting the project and dumping on holders. Related Reading: Ethereum Whales Are Quietly AccumulatingIs A Major Price Breakout Coming? Movements to centralized exchanges are often seen as bearish, signaling the holder’s intention to liquidate. Whether they sold or not remains to be seen at this point. However, after the signal was flagged on October 16, the token trended lower, suggesting a possible supply spike. To put the numbers into perspective, the team sent 810 million TURBO to Binance and OKX. The dump follows the team’s steady liquidation over the past few months. Since June 5, Lookonchain analysts observed that the team had deposited 1.5 billion TURBO to multiple exchanges. The Turbo daily chart shows that prices rose to $0.009 in late May. The liquidation by the team coincided with this expansion. Prices dropped sharply after sending tokens to centralized exchanges in June, losing over 65%. TURBO found support at $0.0029 before printing higher highs and eventually erupting above May 2024 highs in early October. Is This A Pump-And-Dump Scheme? If past trends guide and the team actively sells, the probability of TURBO sliding from its recent swing high remains elevated. This contraction may trigger a massive sell-off, pushing prices to $0.007or worse. Whether the team is “pumping and dumping” remains only a speculation. However, if the team makes a statement, it could assuage fears and possibly prop up prices. For now, no definitive evidence supports any allegations of a possible pump-and-dump. Related Reading: Bitcoin Coinbase Premium Is Negative Despite $68,000 Rally: What It Means Earlier this month, the United States Department of Justice (DoJ) leveled charges against GotBit, a meme coin market maker, accusing them of, among others, wash trading and involvement in pump-and-dump schemes. Feature image from iStock, chart from TradingView

View Details