Ponzi Schemes – DIGIT INFO

Robert Kiyosaki Sees Bitcoin as ‘Perfect Asset at the Right Time’ — Calls US Dollar ‘Giant Ponzi Scheme’

DIGIT — Wed, 27 Mar 2024 01:20:45 +0000

Rich Dad Poor Dad author Robert Kiyosaki has answered multiple questions about bitcoin and the U.S. dollar. Declaring that he is a bitcoin bull, the famous author said the cryptocurrency “is the perfect asset at the right time.” While acknowledging the possibility of bitcoin “going to zero,” he countered by suggesting that fiat currencies like […]

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Ponzi vs. pyramid schemes: What’s the difference?

DIGIT — Wed, 13 Sep 2023 11:10:00 +0000

Ponzi schemes promise returns generated from the money of future investors, while in pyramid schemes, income flows up through recruitment.

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Gary Gensler: Crypto market is like 1920s stock market, full of ‘fraudsters’

DIGIT — Thu, 08 Jun 2023 21:34:56 +0000

Gensler argued that securities laws helped prevent stock market scams once they were passed in the 1930s and can benefit the crypto market of today.

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California Launches Crackdown on 11 Crypto Firms Accused of Operating Ponzi Schemes

DIGIT — Wed, 28 Sep 2022 09:00:45 +0000

The California Department of Financial Protection and Innovation (DFPI) has cracked down on 11 cryptocurrency companies that are accused of violating California securities laws. Nine of the firms reportedly solicited funds from investors in order to trade cryptocurrencies on the customer’s behalf. One of the accused companies pitched an alleged metaverse software development scheme, and […]

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Majority of Russia’s Financial Pyramids in Q1 Linked to Crypto, Scammers Exploit Sanctions Topic

DIGIT — Sun, 08 May 2022 10:00:57 +0000

Many of the financial pyramids identified in Russia during the first quarter of the year have been associated with cryptocurrencies, a top central bank official has revealed. Fraudsters are actively exploiting the hot topics of the day, including the sanctions theme. Pyramids Offer Russian Investors Ways to Circumvent Western Sanctions Amid growing financial uncertainty, Ponzi […]

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Bitcoin Will Become Currency in Brazil Soon, According to Federal Deputy Aureo Ribeiro

DIGIT — Tue, 05 Oct 2021 14:00:32 +0000

Aureo Ribeiro, a federal deputy in Brazil, stated that bitcoin might become a recognized currency in Brazil soon, during an interview with local media. The politician stated that Brazilians may be able to purchase houses, cars, and even fast food at McDonald’s with cryptocurrency in the near future. Bill 2.303/15, which regulates cryptocurrencies, might approve […]

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Bank of Russia Lists Crypto Companies Among Financial Pyramids

DIGIT — Fri, 24 Sep 2021 10:00:44 +0000

The Central Bank of Russia has recently expanded its database of financial market players suspected of illicit activities. Several crypto companies have been added to the list along with entities bearing signs of Ponzi schemes, as well as illegal credit organizations and forex dealers. Central Bank of Russia Blacklists Crypto Platforms As part of its […]

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Crypto Crime Falls in China, Surges in Hong Kong, Reports Reveal

DIGIT — Wed, 04 Aug 2021 22:30:21 +0000

China’s cryptocurrency transactions related to criminal activities have decreased significantly over the past couple of years, a new report suggests. At the same time, its special administrative region of Hong Kong is seeing a spike in crypto-related crime this year, with authorities attributing the rise to the popularity of crypto investments. Chinese Crime-Related Crypto Transactions […]

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Nigerian Crypto Exchange Boss: CBN Directive Led Shift of Trades From Centralized Exchanges to Black Market Exchanges

DIGIT — Sun, 01 Aug 2021 07:45:17 +0000

It has been more than six months since the Central Bank of Nigeria (CBN) directed banks to stop serving customers from the cryptocurrency industry. While the measure appears to have succeeded in removing crypto entities from the banking ecosystem, the policy has however led to the growth of peer-to-peer trading. ‘Central Bank of Nigeria’s Actions […]

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Crypto Payment Option Makes Services More Affordable: Zimbabwe Music Studio Director

DIGIT — Thu, 29 Jul 2021 09:30:43 +0000

A Zimbabwean music production company, Mutscon Music, recently announced that its clients can now pay for services using cryptocurrencies like bitcoin and ethereum. According to the company, this decision has partly been necessitated by ongoing pandemic-related movement restrictions. Music Studio Accepts Crypto Mutscon Music has also chosen to accept cryptocurrencies because this form of payment […]

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