Canary Capital Files for Staked TRX ETF With U.S. SEC

The post Canary Capital Files for Staked TRX ETF With U.S. SEC appeared first on Coinpedia Fintech News The staking feature for crypto ETFs will likely be approved by the Donald Trump administration. TRX, against the U.S. dollar, has been preparing to enter its macro price discovery. Canary Capital Group filed with the United States Securities and Exchange Commission (SEC) on April 18 to offer Canary Staked TRX ETF. According to the SEC filing , the Canary Staked TRX ETF will track Tron (TRX) and enable investors to earn passively through the blockchain’s staking feature. The filing noted that CSC Delaware Trust will act as the trustee of the Canary Staked TRX ETF, while BitGo Trust Company will act as the custodian of the fund. Meanwhile, Canary Capital has yet to disclose the fund’s management fee and ticker, thus signing more filing amendments in the near future. Canary Capital Pushes for Crypto ETFs Canary Capital has heavily capitalized on the positive crypto regulatory outlook under the Donald Trump administration. As Coinpedia reported, Canary Capital has filed with the U.S. SEC to offer several spot ETFs. Canary Capital’s notable filings for spot ETF approvals include Sui (SUI), Pudgy Penguins (PENGU), Solana (SOL), XRP, and Hedera (HBAR). Impact on the TRX Market The filing of the Canary Staked TRX ETF is an indication of the rising demand for Tron coin among institutional investors. Moreover, the large-cap altcoin, with a fully diluted valuation of about $22.8 billion and a 24-hour average trading volume of around $464 million, has been signaling a potential upsurge after a bullish breakout. In the daily timeframe, TRX price has already formed a higher high and is currently attempting to establish a support level around 24 cents a consistent close above 24 cents and the 50-day Moving Average (MA) will fuel a bullish uproar towards 30 cents. Bigger Picture The Tron network has grown to a vibrant DeFi ecosystem, with more than $4.9 billion in total value locked and over $68 billion in stablecoins market cap. According to market data from Defillama, the Tron network recorded nearly 2.3 million active addresses in the past 24 hours, thus a chain revenue of around $1.82 million. The Tron network has gradually re-entered the United States market in the past few months after geoblocking during the Biden administration.

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Kraken’s Bold Move: Unleashes 24/7 FX Perpetual Futures Trading Revolution

Exciting news for traders seeking round-the-clock opportunities! Leading cryptocurrency exchange , Kraken, has just amplified its trading platform by introducing FX perpetual futures trading . Yes, you heard it right! Kraken Pro users can now dive into the dynamic world of forex markets, starting with the ever-popular EUR/USD and GBP/USD currency pairs. This move signifies a major expansion for Kraken, venturing beyond its core crypto offerings to tap into the vast potential of foreign exchange. Unveiling Kraken’s FX Perpetual Futures: What’s the Buzz? For those unfamiliar, perpetual futures are derivative contracts that, unlike traditional futures, don’t have an expiration date. This means you can hold positions indefinitely, mirroring the spot market but with the added leverage and flexibility of futures trading. Kraken’s foray into FX perpetual futures is a game-changer for several reasons: 24/7 Trading Access: Say goodbye to market closure limitations! Forex markets are renowned for their 24/5 operation, but Kraken is taking it a step further by offering 24/7 trading . This caters to the global nature of crypto and forex traders who operate across different time zones and prefer continuous market access. Diversification Beyond Crypto: Kraken, primarily known as a cryptocurrency exchange , is strategically diversifying its product range. By adding FX pairs, Kraken is appealing to a broader audience, including traditional forex traders who might be looking to explore crypto or simply want a platform that offers both. Leverage Opportunities: Perpetual futures inherently offer leverage, allowing traders to control larger positions with a smaller amount of capital. While leverage can amplify profits, it’s crucial to remember it also magnifies risks. Responsible risk management is key! Competitive Edge: By launching FX perpetual futures , Kraken is positioning itself to compete with established forex brokers and other crypto exchanges that may also offer FX products. This move could attract traders seeking a unified platform for both crypto and forex trading. Why Forex and Why Now for Kraken? The foreign exchange market is the largest and most liquid financial market globally, dwarfing even the stock markets in trading volume. The appeal of forex lies in its: High Liquidity: With trillions of dollars traded daily, forex markets offer unparalleled liquidity, ensuring tight spreads and efficient order execution. Volatility: Currency values are influenced by a multitude of factors – economic indicators, geopolitical events, interest rate changes, and more. This volatility presents numerous trading opportunities. Global Participation: Forex is a truly global market, with participants ranging from central banks and financial institutions to multinational corporations and individual traders worldwide. For Kraken, venturing into forex is a logical step to expand its market reach and cater to the evolving needs of its user base. The timing is also strategic, as interest in both crypto and forex markets remains robust, and traders are increasingly looking for comprehensive platforms that offer diverse trading instruments. Navigating the FX Perpetual Futures Landscape on Kraken Pro Kraken Pro users will find the new FX perpetual futures pairs integrated seamlessly into the platform. Here’s a quick guide on what to expect: Feature Details for FX Perpetual Futures on Kraken Pro Trading Pairs (Initial) EUR/USD, GBP/USD Trading Hours 24/7 Platform Kraken Pro Contract Type Perpetual Futures Leverage (Specific leverage details to be confirmed on Kraken Pro – traders should check platform for latest information) Actionable Insights for Traders: Explore the New Pairs: If you are a Kraken Pro user interested in forex, take advantage of the new EUR/USD and GBP/USD pairs. Familiarize yourself with their trading characteristics and volatility. Risk Management is Paramount: Especially with leveraged products like perpetual futures, robust risk management strategies are crucial. Use stop-loss orders and manage your position sizes wisely. Stay Informed: Forex markets are driven by global events. Keep abreast of economic news, central bank announcements, and geopolitical developments that can impact currency values. Platform Familiarization: If you’re new to Kraken Pro or futures trading, take time to explore the platform, understand the order types, and leverage settings before trading live. Challenges and Considerations While Kraken’s move into Forex trading is exciting, there are factors to consider: Competition: The forex market is highly competitive, with numerous established brokers. Kraken will need to differentiate itself to attract and retain forex traders. Regulatory Landscape: Regulations surrounding forex and crypto derivatives can vary across jurisdictions. Kraken needs to navigate these complexities to ensure compliance and global accessibility. Education and Support: Some crypto traders may be new to forex, and vice versa. Kraken might need to invest in educational resources and support to help users navigate this new offering effectively. Market Volatility: Both crypto and forex markets can be volatile. Traders need to be prepared for rapid price swings and manage their risk accordingly. Conclusion: A Bold Step into a Broader Trading Universe Kraken’s launch of 24/7 FX perpetual futures trading is undoubtedly a significant step forward. It demonstrates the exchange’s ambition to become a comprehensive trading platform, bridging the gap between the crypto and traditional financial worlds. By offering forex trading alongside its robust crypto offerings, Kraken is providing traders with more opportunities, greater flexibility, and access to a wider range of markets. As the platform evolves and potentially adds more FX pairs and features, it will be interesting to watch how this bold move shapes Kraken’s future and the broader trading landscape. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action.

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Smarter ChatGPT: Revolutionizing Web Searches with Personalized Memory

For cryptocurrency enthusiasts always seeking the edge in market analysis and information gathering, the latest advancements in AI are not just interesting—they’re game-changing. OpenAI’s ChatGPT is pushing boundaries again, this time with a groundbreaking update that’s set to redefine how we interact with AI for web searches. Imagine an AI chatbot that not only understands your queries but also remembers your preferences, your past interactions, and uses this ‘memory’ to tailor web search results just for you. This isn’t science fiction; it’s the reality of ChatGPT’s new ‘Memory with Search’ feature, and it’s poised to make your information gathering faster, more relevant, and incredibly personalized. Unveiling ChatGPT’s Personalized Search : What’s New? OpenAI has just rolled out a significant enhancement to ChatGPT’s capabilities, dubbed ‘Memory with Search.’ This isn’t just a minor tweak; it’s a fundamental upgrade to how ChatGPT processes and responds to your queries, especially when those queries involve web searches. Building on its existing memory capabilities, this new feature allows ChatGPT to leverage details from your past conversations to refine and personalize your web search experience. Think of it as having a digital assistant that truly ‘knows’ you and uses that knowledge to get you the most relevant information from the vast expanse of the internet. Here’s a breakdown of what ‘Memory with Search’ brings to the table: Context-Aware Searches: ChatGPT now uses its ChatGPT memory of your previous conversations to understand the context of your current search. This means it doesn’t just treat each query in isolation but as part of an ongoing dialogue. Personalized Query Refinement: When you ask ChatGPT to search the web, it can rewrite your prompt to be more effective, incorporating details it remembers about you. This leads to search queries that are inherently more tailored to your needs and preferences. Seamless Integration: This feature is designed to work smoothly within the existing ChatGPT interface. If you’ve used ChatGPT’s memory feature before, ‘Memory with Search’ is a natural and powerful extension of that. This update is a clear move by OpenAI to distinguish ChatGPT from competitors like Claude and Gemini, both of which are also developing memory features. OpenAI is doubling down on creating a truly personalized and efficient AI chatbot experience. How Does Memory with Search Actually Work? Let’s dive into a practical example to illustrate the power of ‘Memory with Search.’ Imagine you’ve previously mentioned to ChatGPT that you’re interested in blockchain technology and live in London. Now, you ask ChatGPT, ‘What are some upcoming tech events near me?’ With ‘Memory with Search,’ ChatGPT doesn’t just perform a generic search. Instead, it intelligently rewrites your query, leveraging its ChatGPT memory . It might transform your simple question into a more specific search query like, ‘blockchain technology events London 2025.’ OpenAI provides another compelling example in their documentation: Consider a user who ChatGPT remembers is vegan and lives in San Francisco. If this user prompts, ‘what are some restaurants near me that I’d like,’ ChatGPT, with ‘Memory with Search,’ might refine this to ‘good vegan restaurants, San Francisco.’ This level of personalization ensures that the search results are not only geographically relevant but also aligned with your dietary preferences, making the information far more useful and less time-consuming to sift through. The Benefits of Personalized Search in the AI Era For users, especially those in fast-paced fields like cryptocurrency trading and analysis, the benefits of personalized search are substantial: Enhanced Relevance: Say goodbye to sifting through pages of irrelevant search results. ‘Memory with Search’ significantly increases the relevance of information you receive, saving you valuable time. Improved Efficiency: By understanding your context and preferences, ChatGPT streamlines the search process. You get to the information you need faster, allowing for quicker decision-making. More Intuitive Interaction: Conversing with ChatGPT becomes more natural and intuitive. It feels less like interacting with a machine and more like having a knowledgeable assistant who anticipates your needs. Competitive Edge: In dynamic markets like cryptocurrency, access to timely and highly relevant information is crucial. Personalized search can provide that edge, helping you stay ahead of market trends and make informed decisions faster. OpenAI Update : Differentiating ChatGPT in a Crowded Market The ‘Memory with Search’ feature is a strategic move by OpenAI update to further differentiate ChatGPT from its competitors. In a market increasingly crowded with sophisticated AI chatbots, standing out requires continuous innovation and user-centric features. By enhancing the ChatGPT memory capabilities and integrating them with web search, OpenAI is setting a new benchmark for personalized AI interactions. While Google’s Gemini and Anthropic’s Claude also offer memory features, OpenAI’s approach with ‘Memory with Search’ seems to be taking personalization a step further by directly influencing and refining the web search process itself. This is not just about remembering past conversations; it’s about actively using that memory to improve the quality and relevance of information retrieved from the web. Are There Any Concerns? Navigating the Challenges As with any AI advancement, especially one that involves ChatGPT memory and personalization, there are valid questions and potential concerns: Privacy: Users might be concerned about what personal information ChatGPT stores in its memory and how this data is used to personalize searches. OpenAI needs to be transparent about data handling and ensure robust privacy protections. Accuracy and Bias: Relying on past conversations to refine searches could introduce biases or inaccuracies if the initial memories are flawed or if the AI misinterprets past interactions. Continuous refinement and user feedback will be crucial to mitigate these risks. Control and Customization: Users need to have control over their ChatGPT memory . The ability to easily disable ‘Memory with Search,’ as mentioned in OpenAI’s documentation, is essential. Furthermore, granular control over what is remembered and used for personalization would be a welcome addition. OpenAI has already addressed the control aspect by allowing users to disable Memory in settings, giving users the option to opt out of personalized search if they prefer. Actionable Insights: Making the Most of Memory with Search Ready to leverage the power of Memory with Search ? Here are some actionable insights to get you started: Engage in Detailed Conversations: The richer your conversations with ChatGPT, the more comprehensive its memory becomes, leading to better personalized search results. Don’t hesitate to provide context and details in your interactions. Experiment with Different Queries: Try using ‘Memory with Search’ for various types of web searches to see how it refines and personalizes the results. Experiment with broad and specific queries to understand its capabilities fully. Review and Manage Your Memory: Regularly check your ChatGPT settings to manage your memory preferences. Ensure you are comfortable with the level of personalization and adjust settings as needed. Provide Feedback: As an early adopter, your feedback is invaluable. If you encounter issues or have suggestions for improvement, provide feedback to OpenAI to help refine this feature further. Conclusion: A Smarter, More Personalized AI Future OpenAI’s ‘Memory with Search’ is more than just an incremental OpenAI update ; it’s a significant leap towards creating truly intelligent and personalized AI assistants. By integrating ChatGPT memory with web search capabilities, OpenAI is paving the way for a future where AI interactions are not only more efficient but also deeply attuned to individual user needs and preferences. For those in the cryptocurrency and broader tech space, this advancement promises a smarter, faster, and more personalized way to navigate the vast digital landscape. As AI continues to evolve, features like ‘Memory with Search’ will be pivotal in shaping how we interact with and benefit from these powerful technologies. To learn more about the latest AI chatbot trends, explore our article on key developments shaping AI features.

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Firing Jerome Powell will crash financial markets — Sen. Elizabeth Warren

US Senator Elizabeth Warren warned that if President Donald Trump eventually moves to fire Federal Reserve Chair Jerome Powell, it could undermine investor confidence in the integrity of US capital markets and trigger a financial crash. During an appearance on CNBC, the Massachusetts Senator said the President does not have the legal authority to remove Powell from his position. Moreover, removing Powell would weaken the financial infrastructure of the US, Warren added: "If Chairman Powell can be fired by the President of the United States, it will crash the markets. The infrastructure that keeps this stock market strong and, therefore, a big part of our economy strong, and a big part of the world economy strong, is the idea that the big pieces move independently of politics." "If interest rates in the United States are subject to a president who just wants to wave his magic wand, this doesn't distinguish us from any other two-bit dictatorship," Warren continued. Trump discusses US economic policies with reporters. Source: The White House President Trump has repeatedly called for Powell's termination, citing the chairman's hesitancy to lower interest rates . Lower interest rates are usually considered a positive catalyst for risk-on asset prices, including cryptocurrencies, and could reverse the market downturn brought on by the trade war and current macroeconomic pressures. Related: Fed's Powell reasserts support for stablecoin legislation Trump's feud with the Federal Reserve chairman Trump criticized Powell for not cutting interest rates and called for his termination again in an April 17 Truth Social post , which inflamed speculation that he would follow through on threats and find a way to remove the chairman. Senator Rick Scott echoed Trump's calls to remove Powell. "It’s time to clean house of everyone working at the Federal Reserve who isn’t on board with helping the American people and fighting for their best interests," Scott wrote in an opinion piece published on Fox News. Source: Donald Trump The Trump administration has repeatedly stated that lowering interest rates is a top priority. Market analyst and investor Anthony Pompliano recently speculated that Trump deliberately crashed financial markets to force lower interest rates. At the time, Pompliano cited a reduction in the yield of the 10-year US Treasury Bond to just 4%. The 10-year bond yield has climbed back up to 4.3% since then. Magazine: Meebits and CryptoPunks are like Hot Wheels for adults: New MeebCo owner Sergito

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Surprising SPAC Comeback: Kodiak Robotics Ignites IPO Market Hope

Remember the SPAC frenzy of 2021? It felt like every other company was going public via a Special Purpose Acquisition Company. Then, the hype faded, and SPACs seemed to lose their luster. But hold on – could we be witnessing a surprising SPAC comeback ? Kodiak Robotics, a self-driving truck startup, is making headlines by choosing the SPAC route to the public market, merging with Ares Acquisition Corporation II. This bold move raises eyebrows, especially given the recent struggles and shutdowns in the autonomous vehicle sector, not to mention the generally shaky IPO landscape. Is this a lone wolf, or the start of a new SPAC wave? Let’s unpack this. Is the SPAC Comeback Really Happening? The big question on everyone’s mind: is the SPAC comeback real ? Kodiak Robotics’ decision certainly suggests a pulse in the SPAC world. But it’s happening against a backdrop of considerable uncertainty in the broader IPO market. As highlighted on Bitcoin World’s Equity podcast, featuring Kirsten Korosec, Max Zeff, and Anthony Ha, the expected blockbuster IPO year of 2025 is looking less certain. Major players like Klarna and StubHub have pumped the brakes on their public debut plans. Investor Mark Goldberg even quipped that those waiting for a fintech IPO wave this year might be waiting a long time. So, why SPACs, and why now? Here’s a breakdown of factors at play: Uncertain IPO Market Conditions : Traditional IPOs require extensive roadshows and market confidence. In a volatile market, SPACs offer a potentially faster and more certain path to going public, even if it means negotiating valuation with a SPAC sponsor. SPACs Seeking Deals : Many SPACs raised capital during the boom and are now under pressure to find merger targets before their deadlines expire. This creates a supply of SPACs looking for companies, potentially making it an attractive option for private companies seeking liquidity. Kodiak Robotics’ Bold Bet : For Kodiak, the SPAC route might offer access to capital and public markets at a time when traditional funding rounds are tougher to secure for autonomous vehicle companies, especially after the setbacks of Embark and TuSimple. However, it’s crucial to remember the challenges that led to the SPAC market cooling down in the first place: SPAC Performance History : Post-merger SPAC performance has often been lackluster, with many companies underperforming market expectations. This has made investors wary. Regulatory Scrutiny : Increased regulatory attention on SPACs has added complexity and potentially deterred some companies and investors. Market Saturation : The sheer volume of SPACs in 2021 led to deal fatigue and a decline in investor enthusiasm. Autonomous Vehicles and the IPO Landscape Kodiak Robotics operating in the autonomous vehicles space adds another layer of intrigue. This sector has faced significant headwinds recently. The closures of Embark and TuSimple, mentioned in the original article, underscore the capital-intensive and long-term nature of developing and deploying self-driving technology. Going public via SPAC could be a strategic move for Kodiak to secure funding and visibility in a challenging environment. However, investor sentiment towards autonomous vehicles is currently mixed. While the long-term potential is undeniable, the path to profitability and widespread adoption remains uncertain. Key Considerations for Kodiak Robotics’ SPAC Move: Factor Potential Impact Market Sentiment for Autonomous Vehicles Could be a headwind if investors are still cautious about the sector’s near-term prospects. SPAC Partner (Ares Acquisition Corporation II) A strong and reputable SPAC sponsor can lend credibility and support to the deal. Valuation and Deal Terms Attractive valuation and deal terms are crucial to attract investors and ensure long-term success as a public company. Execution and Roadmap Clear execution plans and a realistic roadmap for commercialization will be vital to maintain investor confidence post-merger. Fintech IPOs: Still on Hold? The article also touches upon the broader fintech IPO landscape, quoting Mark Goldberg’s pessimistic view on an imminent wave. This context is important because it highlights the general hesitancy in the IPO market, not just for tech but specifically for fintech companies which were also darlings of the previous IPO boom. If even fintech giants are delaying public offerings, it underscores the challenging market conditions and makes Kodiak’s SPAC move even more noteworthy – and potentially risky. Other Key Highlights from the Equity Podcast: AI Voices Everywhere : Imagine Mark Zuckerberg, Elon Musk, and Jeff Bezos’s AI voices guiding you at crosswalks. The podcast discussed the increasing pervasiveness of AI voices and its implications. Figma’s IPO Plans : The Equity crew is eagerly anticipating Figma’s S-1 filing, raising questions about its financials, growth strategy, and market positioning. Hugging Face’s Robotics Push : Hugging Face’s recent acquisition signals a deeper dive into humanoid robotics, expanding its AI footprint beyond software models. OpenAI’s Model Updates : Updates to OpenAI’s o3 and o4-mini models, and the anticipation for the grand GPT-5 launch, keep the AI world buzzing with excitement. Conclusion: A Glimmer of Hope or a False Dawn? Kodiak Robotics’ SPAC merger is undoubtedly a significant event. Whether it signals a true SPAC comeback or is merely an outlier remains to be seen. It’s a bold move in an uncertain market, particularly for the autonomous vehicle sector. The broader IPO landscape is still hesitant, especially for fintech, suggesting that any SPAC revival might be selective and dependent on specific company strengths and market conditions. Keep a close watch on how Kodiak’s SPAC deal progresses and whether other companies follow suit – it could be a crucial indicator for the future of SPACs and the IPO market in general. To learn more about the latest AI market trends, explore our article on key developments shaping AI features.

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Belarus Sets Bold Goals for Launching Digital Ruble by 2026

Belarus plans to launch its digital ruble in 2026, enhancing payment efficiency. The project emphasizes security, traceability, and technical infrastructure development. Continue Reading: Belarus Sets Bold Goals for Launching Digital Ruble by 2026 The post Belarus Sets Bold Goals for Launching Digital Ruble by 2026 appeared first on COINTURK NEWS .

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Render & Celestia Kickstart a Climb – Will the Rally Continue? Mid Term Price Prediction For RENDER & TIA

Render and Celestia have started showing signs of upward movement in the crypto market. Traders and investors are watching closely, wondering if this momentum will keep building. This article dives into the details and provides a mid-term price forecast for RENDER and TIA, aiming to uncover which of these digital assets might be primed for significant growth. Crypto Price Snapshot and Technical Overview The RENDER experienced a 25% gain over the past month and a 17% boost within the last week. Over a six-month period, the price dropped by 25%, reflecting a mixed performance with sharp short-term rallies contrasted by a longer-term decline. These movements signify rapid shifts in sentiment where recent gains may indicate renewed interest, despite an overall weakness observed in the half-year view. The current trading zone ranges between $2.46 and $4.42, with a key support level at $1.52 and resistance near $5.43 along with a secondary resistance at $7.39. Price action appears delicate with no definitive trend, suggesting bulls may be cautiously testing gains while bears maintain pressure near lower levels. Traders might consider buying near support and monitoring resistance for potential exits. Celestia Price Outlook and Market Levels TIA showed a 26.12% decline over the last month and a 59.19% slide over the past six months, with a small weekly drop of 2.34%. Price moves have been steep and led to marked shifts in sentiment, with volatility defining its recent performance. Indicators point to fading momentum as the market adjusts, highlighting a clear downward trend during these intervals. Current trading sees Celestia moving between $2.31 and $4.17. Resistance sits near $5.28, with a second push expected around $7.14, while support is seen at $1.55. Bears hold sway for now, with the price failing to break higher and a lack of strong directional trend. Cautious trades within these levels could test resistance and find new support at the current key level. Conclusion The recent surge in RENDER and TIA signals a renewed interest in these coins. Market sentiment appears strong, driven by positive developments and community support. While current trends favor continued growth, monitoring broader market conditions is crucial. Both RENDER and TIA have shown potential, but their long-term performance will depend on sustained momentum and adoption. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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CartelFi gains momentum as Shiba Inu, Bitcoin prices stall

Fear remains the key emotion in the crypto space even as enthusiasts remain optimistic of a recovery in the foreseeable future. While most majors and meme coins are still under selling pressure, Bitcoin has benefited from its stability. At the same time, savvy investors are eyeing fresh projects with real-world use cases and robust growth

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Canary Capital Aims to Launch First Staked Tron ETF Amid Rising Interest in Crypto Funds

The growing interest in cryptocurrency-exchange-traded funds (ETFs) continues to gain momentum, particularly with new filings for assets like Tron. Canary Capital’s recent submission to the SEC marks a pivotal moment

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Braiscompany $190,000,000 Crypto Ponzi Scheme Lands Mastermind a 128-Year Jail Sentence: Report

The leaders of a Brazilian crypto Ponzi scheme have reportedly been handed a combined sentence of over 170 years behind bars. According to a new report , the three leaders of Braiscompany, which perpetrated the scheme, were sentenced for defrauding investors out of nearly $190 million, or $1.1 billion Brazilian Reals. The report says the company’s main operator, Joel Ferreira de Souza, was handed a sentence of 128 years behind bars, while the other two perpetrators, Gesana Rayane Silva and Victor Augusto Veronez de Souza, were given sentences of 28 and 15 years, respectively. According to authorities, the trio promised “exorbitant” returns on the crypto investments of their victims in order to initially get their funds and engaged in money laundering. Ferreira de Souza was found to be controlling crypto portfolios through third parties, as well as using shell companies to facilitate his crimes. He was convicted of 11 counts of money laundering, while Reyane Silva, the firm’s broker, was found responsible for intermediating financial transactions and transporting funds. De Souza, Joel’s son, was also found guilty of being involved with one of the companies involved in the illegal transactions. The judge in the case said that proceeds from the scam should go directly to the government. However, Artêmio Picanço – the lawyer representing the victims of Braiscompany – argued on one of his social media accounts that the fund should go directly to the victims. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Braiscompany $190,000,000 Crypto Ponzi Scheme Lands Mastermind a 128-Year Jail Sentence: Report appeared first on The Daily Hodl .

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