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New York Resident Indicted for Crypto Scam, Charged With Wire Fraud

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The Office of United States Immigration and Customs Enforcement’s Homeland Security Investigations and prosecutors for the Southern District of New York have indicted a man for allegedly participating in a cryptocurrency scheme dubbed Igobit.

According to an announcement on Nov. 6, Asa Saint Clair was charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison if convicted.

Used clients funds for dinners at Manhattan restaurants

The document states that, from 2017 through September 2019, Saint Clair solicited investors to be part of Igobit by World Sports Alliance, a purported intergovernmental organization focused on promoting international development through sports, while falsely promising them guaranteed returns and ownership interests in the organization.

Allegedly, Saint Clair did not dedicate any of the investor funds to Igobit, instead, he used them to pay for his personal expenses, such as dinners at Manhattan restaurants, airline tickets and online shopping. He reportedly diverted funds to other firms controlled by him and members of his family. Special agent-in-charge Peter Fitzhugh commented:

“Saint Claire allegedly touted his company as promoting the values of sports and peace for a better world, yet defrauded all those who invested in his sham company.  As alleged, Saint Claire used the money he earned through deceit to fund a lavish lifestyle for him and his family. Through the HSI New York El Dorado Task Force and its strong partnerships, Saint Claire will face time for his actions, and it won’t be in the luxury or comfort he has grown accustomed to.”

US charges man who stole computer power to mine $5 million

In October, U.S prosecutors indicted a man from Singapore for using stolen identities to illegally utilize Amazon Web Services’ cloud computing power for crypto mining. The man allegedly stole several identities and accounts, including those of an unnamed Los Angeles-based game developer. He then used social engineering to gain access to admin privileges and large amounts of cloud computing power on Amazon Web Services. The prosecutors further claimed that the man used illegally accessed virtual machines to mine cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH) to amass a total of $5 million.

Source: https://cointelegraph.com/news/new-york-resident-indicted-for-crypto-scam-charged-with-wire-fraud

Blockchain

Coinbase Should’ve Gone Public Via Crypto Tokens – Olaf Carlson-Wee

Olaf Carlson-Wee has recently stated that the shares of Coinbase would be worth more today if the company had chosen to go public via crypto tokens.

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The first hire at the Coinbase cryptocurrency exchange, Olaf Carlson-Wee has recently stated that the shares of the exchange would be worth more today if the company had chosen to go public via crypto tokens. As witnessed already, the Coinbase stock has been declining since the day it was listed on NASDAQ on April 14.

Coinbase Shares Declining, Crypto Tokens Should be Preferred, Suggests Olaf Carlson-Wee

Olaf Carlson-Wee suggested that the cryptocurrency exchange company would be worth a lot more if instead of going public through the stock exchange, it had chosen a crypto-native way.

He said addressing the possible expectations from the Coinbase exchange:

“I think that if Coinbase would have gone public on Coinbase, [it] would be valued at over double what it is.” 

But, we all are aware of the fact that the crypto exchange chose to go public with a direct listing on NASDAQ on April 14.

The now Founder and CEO of Polychain Capital, a crypto venture capital firm, Carlson-Wee, intricate recently in the Ethereal Virtual Summit of this year regarding the listing and decline in the share price of the exchange.

Direct Listing vs IPOs, Exchange’s Way of Going Public Wasn’t Mainstream

If the cryptocurrency exchange had chosen to go public through crypto tokens, the shares of the company would be represented as ERC-20 tokens, which would be allowed for trading in the wild yet wonderful world of Defi.

However, that didn’t happen and the crypto exchange chose the option of direct listing on NASDAQ instead of an IPO. 

Well, the major difference between an IPO and a direct listing is that the direct listings are less unwieldy than IPs and they require comparatively less paperwork. In addition to this, they are also cheaper.

Coinbase, instead of an IPO, offered up 115 million already-existing shares. 

At the launch of the exchange, it was rumored to be worth around $100 billion and its shares were available to trade for $375 each.

READ  CoinDCX Partners With Blockchain Council To Offer Crypto-Related Educational Programs

#Coinbase #Crypto Tokens #Olaf Carlson-Wee

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Source: https://www.cryptoknowmics.com/news/coinbase-shouldve-gone-public-via-crypto-tokens-olaf-carlson-wee

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TheNewsCrypto – Blockchain & Cryptocurreny News Media | Crypto Guide

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Source: https://thenewscrypto.com/

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Alpha Finance Lab Launches New Oracle Aggregator

The Decentralized Finance (DeFi) lab Alpha Finance Lab has announced the launch of the Alpha Oracle Aggregator.

The post Alpha Finance Lab Launches New Oracle Aggregator appeared first on BeInCrypto.

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The decentralized finance (DeFi) focused Alpha Finance Lab has announced the launch of the Alpha Oracle Aggregator.

This new product was developed using data from two of the largest data oracles providers. Namely, Band Protocol and Chainlink. Its primary purpose is to confront obstacles that are preventing the expansion of the DeFi landscape. As such, it developed the Alpha Oracle Aggregator in a bid to ensure scalability, flexibility, and security.

Tascha Punyaneramitdee, co-founder of Alpha Finance Lab, commented:

“The speed at which the DeFi landscape is growing has impacted how Alpha Finance thinks about building and scaling our products. The Alpha Oracle Aggregator ensures the reliability and security of data sourced while increasing flexibility and scalability for the Alpha ecosystem.”

What issues will the Aggregator address?

More specifically, the new aggregator will allow Alpha Finance Lab to access verified data, aggregated from up to three data oracles for a single asset in one location. In addition, the product allows users to access data from different oracles for different assets.

Before, decentralized applications (dApps) needed to integrate with multiple oracles across multiple blockchains. A requirement that led the dApps to build and maintain several infrastructures at once. Alpha Finance’s new aggregator hopes to negate this requirement.

Soravis Srinawakoon, CEO and co-founder of Band Protocol, elaborated:

“The way we aggregate and supply data must adapt to facilitate growth and add a strategic edge with security to the decentralized projects that use it.”

Other issues include the lack of backup for dApps operating on a single chain, using a single data oracle. This leads to problems in the event of manipulation or unavailability. Furthermore, as the crypto space grows, it brings a variety of new tokens with it. This expansion causes difficulties for data oracles trying to cater to dApps’ requests to support more tokens.   

Big year for Alpha Finance Lab

The aggregator is not the first big launch Alpha Finance Lab has made this year. Back in March, its leveraging protocol, Alpha Homora, announced the launch of staking opportunities and a new tokenomics model. In the reveal made on March 28, Alpha Finance said holders of the native ALPHA token could benefit from its product expansion. Specifically, ALPHA holders could stake tokens for fee-earning opportunities, and also unlock unique features.

At the time, reports indicated that this was one of the first times tokenomics were directly integrated with core underlying protocol usage.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK.

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Source: https://beincrypto.com/alpha-finance-lab-launches-new-oracle-aggregator/

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Chainlink (LINK) and Uniswap (UNI) Technical Analysis: Bullish Outlook

Chainlink and Uniswap technical analysis predict solid prices. LINK/USDT and UNI/USDT both look firm for $60 in the medium-term.

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Chainlink and Uniswap technical analysis predict solid prices. LINK/USDT and UNI/USDT both look firm for $60 in the medium-term.

Chainlink (LINK)

The dApp is a cog that supplies external, tamper-proof data to over 300 DeFi protocols. Chainlink is centered around LINK that’s used for paying services rendered.

Past Performance of LINK

The token is the most valuable DeFi project, according to trackers.

Presently, it is up roughly seven percent against BTC and USD, adding three percent versus a solid ETH. It is changing hands at around $51.

At the same time, trading volumes are up 62 percent to $3.3 billion on the last trading day.

READ  Seoul Police Raid South Korea’s Largest Crypto Exchange Bithumb

Day-Ahead and What to Expect

Technically, Chainlink is roaring higher. Its capitalization would continue rising in tandem with DeFi expansion.

At $50, the token trading within a bullish breakout pattern, adding to gains of Q1 2021 and reversing losses of late April 2021.

Overly, momentum is building up as LINK/USDT prices align along the upper BB.

This suggests buyers and the odds of further gains above $60 could be on the offing.

LINK/USDT Technical Analysis

Chainlink Daily Price Chart for May 10

Chainlink prices are on an uptrend. As of writing, LINK/USDT is within a bullish breakout pattern.

Banding along the upper BB, every low is possibly a loading opportunity. Immediate and medium-term targets stand at $54 and $82, respectively.

Hence, correction below $45 may see LINK/USDT prices correct to $35.

Uniswap (UNI)

Uniswap is the world’s leading DEX on Ethereum. UNI is the protocol’s native currency.

READ  TCS Announces Launch of Quartz Smart Solution for Crypto Services

Past Performance of UNI

The UNI/USDT price ranges between $40 and $45, trading within a bullish breakout pattern.

From UNI technical analysis, the path of the least resistance is northwards despite a nine percent contraction over the last week of trading.

Presently, the breakout trade is valid as long as UNI prices remain above $40.

Day-Ahead and What to Expect

Uniswap technical analysis and fundamentals support UNI bulls. In all, the middle BB and $40 are crucial reaction points in the immediate term.

For trend continuation, how UNI/USDT reacts at $45 could determine the short-term trend.

UNI/USDT Technical Analysis

Uniswap Daily Price Chart for May 10

Aforementioned, UNI/USDT is trading within a bullish breakout pattern above $40.

In a retest last week, the short-term trend for UNI remains upwards. However, the rally to $58 could be accelerated if there is a conclusive, high volume breakout above $45—May 2021 highs.

READ  Bakkt Partners With Galaxy Digital to Launch White Glove Service

Hence, losses below $40 may see UNI/USDT dump down to $30.

#Chainlink #DeFi #LINK #LINK USDT #UNI #UNI/USDT #Uniswap

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Source: https://www.cryptoknowmics.com/news/chainlink-link-and-uniswap-uni-technical-analysis-bullish-outlook

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