Lavish Lies: $200M Crypto Scam Unravels Global Web of Deceit

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📈 Preview On Today’s News:

1. - Lavish Lies: $200M Crypto Scam Unravels Global Web of Deceit

2. - Crypto Power Play: Wall Street Meets Bitcoin in $3B Bet

3. - Bitcoin Gets a Smart Contract Makeover with $13M Boost

Keep reading below for more!

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Today’s News:

1)

Lavish Lies: $200M Crypto Scam Unravels Global Web of Deceit

Ramil Palafox, a dual U.S.-Philippines citizen, has been charged by the SEC and DOJ for orchestrating a $200 million Ponzi-style crypto scam through PGI Global, misleading over 90,000 investors worldwide between 2020 and 2021. Promising consistent returns via “AI-powered” Bitcoin and forex trading, Palafox instead used investor funds to finance a luxurious lifestyle, including high-end cars, homes, and lavish events. The scheme, built on multilevel marketing and guaranteed returns of up to 3% daily, ultimately collapsed as funds were used to pay off earlier investors. Federal charges include wire fraud and money laundering, with authorities pursuing asset forfeiture and a ban on future securities offerings.

• Ramil Palafox allegedly defrauded over 90,000 global investors with false promises of AI-driven trading profits, redirecting $57M toward personal luxuries and extravagant events.

• Facing multiple federal charges, Palafox’s case signals intensified regulatory scrutiny and global enforcement of crypto-related investment fraud.

2)

Crypto Power Play: Wall Street Meets Bitcoin in $3B Bet

Cantor Fitzgerald, alongside Tether, Bitfinex, and SoftBank, is launching a $3 billion Bitcoin investment vehicle, marking one of the most significant institutional pushes into crypto to date. The newly-formed entity, 21 Capital, will hold direct BTC investments and mimic leveraged strategies used by firms like Strategy, which amassed 530,000 BTC. Tether will contribute $1.5B, SoftBank $900M, and Bitfinex $600M. Additional capital will be raised through a $350M bond and a $200M private equity round. Spearheaded by Brandon Lutnick—son of the U.S. Commerce Secretary—the venture targets a bullish market shift, boosted by anticipated crypto-friendly U.S. policies and SEC leadership.

• Major financial players—including Cantor Fitzgerald, Tether, Bitfinex, and SoftBank—are pooling $3B to launch 21 Capital, a BTC-focused public firm.

• The initiative reflects growing institutional confidence in crypto, amid expectations of regulatory tailwinds under the current U.S. administration.

3)

Bitcoin Gets a Smart Contract Makeover with $13M Boost

Arch Labs has secured $13 million in funding to bring smart contract functionality to Bitcoin, a move that could reshape the DeFi landscape. The funding round—featuring top-tier investors like Pantera Capital and Multicoin Capital—sets Arch Labs' valuation at $200 million. With this capital, the company plans to launch ArchVM, a native Bitcoin virtual machine designed to enable more complex and efficient smart contracts. By tapping into Bitcoin’s security while adding Ethereum-like programmability, Arch Labs aims to expand Bitcoin’s utility far beyond a store of value.

• Arch Labs raised $13M from prominent backers including Pantera and Multicoin Capital, reaching a $200M valuation.

• The funds will support ArchVM, a native Bitcoin virtual machine set to unlock advanced smart contract capabilities on the Bitcoin blockchain.

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