On May 8, Bittrex, the second largest cryptocurrency exchange, filed for bankruptcy amidst a legal battle with the Securities and Exchange Commission (SEC). The cryptocurrency industry is facing another wave of bankruptcies, with Bittrex becoming the latest platform to fall. The Chapter 11 filing only covers Bittrex’s US affiliate, based in Seattle, Washington. Bittrex Global, which serves customers outside the US, will continue to operate normally. The exchange believes it has over 100,000 creditors, with assets ranging from $500 million to $1 billion. The SEC filed a lawsuit against Bittrex last month, accusing the platform of operating a national securities exchange, broker, and clearing agency in violation of federal statutes. Bittrex’s CEO has vowed to fight the charges, and customers are expected to be paid in full. The crypto industry has seen a string of bankruptcies in less than a year, with FTX, Celsius Network, Voyager Digital, Three Arrows Capital, and BlockFi going bankrupt in 2022.
Cryptocurrency
Texas Regulators Crack Down on Fake Elon Musk Coin and AI Investment Scam
The Lone Star State is taking action against scammers who are targeting unsuspecting investors with fake Elon Musk coins and AI scams. In a bid to crack down on fraudulent activity, Texas regulators have filed an emergency cease and desist order against Horatiu Charlie Caragaceanu, The Shark of Wall Street, and Hedge4.ai, demanding the termination of an “Artificial intelligence investment scam” that promotes TruthGPT Coin using fake animated avatars and images of Tesla and Twitter CEO Elon Musk. The Texas State Securities Board is proactively investigating trendy offerings that may pose a threat to the public, and TruthGPT Coin and its creator came to their attention during routine market surveillance looking into various artificial intelligence offerings. The TruthGPT Coin and Elon Musk AI Token were launched in March as a new digital asset investment campaign, and the tokens are being marketed online through avatars portraying Elon Musk endorsing TruthGPT Coin and comparing it to ChatGPT, with the claim that purchasers can earn up to 1,000 times their investment. Texas regulators are raising the alarm over scammers capitalizing on the massive popularity of AI tools, and are taking every step possible to protect investors from fraudulent activities.
Analyzing Bitcoins Golden Cross 5/23 A Look Back at the History and Future of BTC Price
Is it time to buy bitcoin? Bitcoin has just experienced the mother of all golden crosses – a rare event that has occurred only four times in BTC history. Each of these runs reached all-time highs, making it a crucial milestone for the cryptocurrency. Currently, Bitcoin is facing a battle between a golden cross and a death cross, with its price at stake.
Breaking news: Bitcoin has just had its fifth-ever golden cross, and in this article, we will take a closer look at the previous four times this occurred. Analyzing these past trends can provide us with valuable insights into what we can expect from Bitcoin and the broader cryptocurrency market.
However, it is important to note that this article is not investment advice. Always seek professional financial advice before making any investment decisions.
