NEW YORK (AP) — An Australian man who pleaded guilty to securities fraud for cheating investors in his cryptocurrency fund of over $50 million was sentenced to over seven years in prison Wednesday by a judge who questioned the sincerity of his apology.
“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it -- they were excited to be so popular.”
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Finally, the 4JNET team does not hold any 4JNET tokens. The funds raised from the presale will go towards advertising on social media platforms like Facebook, Twitter, YouTube, and KOLs in the industry.
The decision to buy cryptocurrency should always have a long-term outlook, as crypto prices can be particularly volatile. Safemoon is no different, as in its short lifespan, the price has already exhibited some significant price swings. To get a better sense of Safemoon’s outlook, let’s take a look at the technical and fundamental factors that could shape price in the future.
Fig 6. Wavelet coherence between Ethereum new authors and price decomposed for different period bands (with GSADF test bubble overlay).
First launched in March of 2021, Safemoon began to surge in price about a month later, thanks to effective marketing by the founding team.
SAN SALVADOR, El Salvador (AP) — Thousands of people gathered in El Salvador's capital Wednesday for the first mass march against President Nayib Bukele, who protesters say has concentrated too much power, weakened the independence of the courts and may seek re-election.
One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought US$40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
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Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
GURA: Their market cap worldwide is now close to $2.5 trillion, which is almost as large as the GDP of France. Even the big Wall Street banks now trade bitcoin. And Gary Gensler, the head of the Securities and Exchange Commission, shares Warren's concerns. Here's what he said in a recent speech.
Shortly after Bitcoin’s latest all-time high, Ethereum marked its own new all-time high last month when its price went over $4,400.
People in the crypto community say it will be the next “Shiba Inu or Safemoon” due to its tremendous growth and expected great things ahead.
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
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