Crypto Market Overview February 22th | Dex-Trade

Crypto Market Overview February 22th | Dex-Trade

SEC Benefits Large-Scale Bankruptcies: Jesse Powell's Opinion

The CEO of cryptocurrency exchange Kraken, Jesse Powell, believes that it is beneficial for US regulators such as the Securities and Exchange Commission (SEC) to “grow” big bad guys who then publicly declare bankruptcy: “I have a theory: Regulators let the bad guys get big and blow up because it serves their agenda.” Powell named three goals that he believes regulators are trying to achieve. The first one is to “destroy capital/resources in [the] crypto ecosystem.” The second is to “burn people, [and] deter adoption.” The third is to “give air cover to attack good actors.” In fact, the Kraken boss has stated that the bad guys are actually on the side of the regulators, and the real enemies of the SEC are the good guys. Thus, if the bad guys can do bad things long enough with impunity, they will gladly “get” the good guys out of their way to the delight of the regulators. And they “can always be jailed later.” In another tweet, Powell commented on how regulators often look to Congress for additional funding to more effectively regulate the crypto sector. He believes that after every failure of the regulators, instead of publicly admitting their inability to prevent a catastrophe, they persuade taxpayers to encourage their activities.


“Cryptoqueen” Was Killed in 2018?

An investigation by the Bulgarian news agency Bird led journalists to conclude that Ruja Ignatova, widely known as the “Cryptoqueen” and founder of the OneCoin ponzi scheme, was murdered in 2018. According to the participants in the investigation, information about the death of Ignatova is contained in the documents that were found on the murdered Bulgarian policeman. As written in their investigation, the “Cryptoqueen” was killed on the orders of a drug lord aboard his yacht. Her killer, according to an unnamed source in the police report, was her own accomplice. However, it is currently unknown if he was involved in the OneCoin scam. Bird reports that Ignatova's body was dismembered and thrown into the Ionian Sea. Notably, this information was released the same week that Ignatova's ex-boyfriend, Gilbert Armenta, was sentenced to five years in prison for his involvement in the OneCoin scam. Even more suspicious is the clarification from the publication that the police documents cited in the investigation say that the anonymous source who told about the death of Ignatova was intoxicated. Recall that the “Cryptoqueen” was the head of the multi-million dollar OneCoin scam and disappeared after allegedly stealing as much as $5 billion from investors in 2017. In the same year, she was on all public international lists of fugitives, including the ten most wanted criminals of the FBI and on the list of the most wanted financial criminals in Europe.


Alexis Ohanian Bought 50,000 ETH for $15,000

Reddit co-founder Alexis Ohanian told Forbes that during a pre-sale in 2014, he bought 50,000 ETH for just $15,000, meaning each coin cost him 30 cents. Ohanian left Reddit back in 2020 and recently developed the idea of a decentralized “value”store. Moreover, he stated that one of the sources of inspiration for this idea was his Armenian origin: “Any group of people who have in their consciousness, or in their collective history, some idea of persecution, especially by a state, makes the idea of a store of value that is not controlled by any single state very attractive. And so, in some ways it was hardwired in me then, and made me in a way receptive to the idea of a decentralized currency.” The fact is that during the First World War there was a genocide of the Armenian population by Turkish soldiers. The legacy of the Oganyan family in the form of family carpets and other valuables was confiscated. Therefore, the co-founder of Reddit became genuinely interested in “unseizable property.” In 2020, Ohanian founded venture capital firm 776 using proceeds from his early investments in Ethereum and Coinbase, which affected 29 crypto startups. In February 2022, his investment raised another $500 million, which was invested in similar projects.