# Ponzi Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Ponzi", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Goliath Ventures CEO pleads guilty in $250M crypto fraud case, agrees to forfeit luxury assets

The CEO of crypto investment firm Goliath Ventures, Christopher Alexander Delgado, pleaded guilty on June 30 to federal fraud and money laundering charges. He admitted his role in a cryptocurrency Ponzi scheme that caused at least $250 million in investor losses. Prosecutors said the scheme, which operated from at least January 2023 through January 2026, raised at least $400 million by promising investors returns from cryptocurrency liquidity pools. Instead, funds were used to pay earlier investors and finance executives' lavish spending. Delgado faces up to 20 years in prison for each fraud count, with sentencing scheduled for October. As part of his plea, he agreed to forfeit numerous luxury assets allegedly purchased with fraud proceeds, including real estate, luxury vehicles, watches, jewelry, and cryptocurrency holdings such as Ethereum and USDC.

ambcrypto17h ago

Goliath Ventures CEO pleads guilty in $250M crypto fraud case, agrees to forfeit luxury assets

ambcrypto17h ago

Will the STRC Issue Price Determined by ChatGPT Lead to a Death Spiral?

A "death spiral" concerns surround the "STRC" preferred shares from MicroStrategy, a financial instrument designed by CEO Michael Saylor with significant AI consultation to trade near a $100 face value. Since its July 2025 launch alongside a ~40% Bitcoin (BTC) decline, STRC has traded at a discount, hitting a low of $82.53 and pushing its effective dividend yield above 12.9%. The debate centers on whether STRC's structure—which relies on MicroStrategy issuing more shares to fund Bitcoin purchases and dividends—is sustainable or a "centralized Ponzi scheme," as economist Peter Schiff claims. Skepticism grew after Saylor revealed the product's design involved extensive AI dialogue to create a legally viable, monthly-dividend, price-stable preferred share—a novel concept. MicroStrategy's recent sale of 32 BTC to cover dividends, coupled with a sharp slowdown in its weekly Bitcoin buys (from billions to ~$100 million in June), has intensified fears. The "at-the-market" equity issuance, a key funding mechanism, is paused while STRC trades below par. This raises the "death spiral" risk: a lower STRC price triggers automatic dividend rate hikes, increasing cash obligations and potentially forcing more share sales or Bitcoin divestments. Bullish analysts like Jesse Myers argue the sell-off stems from leveraged positions unwinding, not fundamental failure, noting the company can cover dividends for decades if BTC appreciates modestly. The shift to semi-monthly dividends and the high yield at discounted prices may attract new buyers. Major AI models (ChatGPT, Grok, Claude) suggest a return to $100 is possible but conditional on restored market confidence, sustainable dividend coverage without asset sales, and a Bitcoin price recovery. The critical test arrives as new dividend rules take effect June 30, likely raising rates again with STRC below $95. The central question remains: Can MicroStrategy fulfill its obligations without selling Bitcoin, or will the mechanism accelerate its own decline?

marsbit06/23 09:37

Will the STRC Issue Price Determined by ChatGPT Lead to a Death Spiral?

marsbit06/23 09:37

Fake Hong Kong Health Tech Company Absconds with 1.6 Billion USDT, On-Chain Tracking Reveals Full Picture of the Scam

BlockSec's on-chain investigation exposes VerilyHK, a fraudulent platform posing as a Hong Kong health-tech company, which processed approximately $1.6 billion USDT over 16 months via the TRON network. The scheme employed a sophisticated, multi-layered infrastructure: 8 generations of receiving hot wallets, 79 intermediate addresses, and 3 generations of paired withdrawal channels. Funds were systematically funneled through thousands of disposable addresses before converging into a single centralized exchange. The operation also revealed ties to the Cambodia-based Huione Group, sanctioned by FinCEN for money laundering. This industrial-scale routing structure highlights advanced evasion tactics, including timed wallet rotations and segregated transaction pathways, underscoring the need for enhanced compliance detection of structured crypto fraud.

marsbit04/09 11:47

Fake Hong Kong Health Tech Company Absconds with 1.6 Billion USDT, On-Chain Tracking Reveals Full Picture of the Scam

marsbit04/09 11:47

"Legal" Ponzi Scheme? Uncovering Gemini Exchange and Its Founders' Circular Lending

A recent report scrutinizes Gemini's financial practices, revealing a circular lending scheme involving its founders, the Winklevoss twins. Through their private investment firm, Winklevoss Capital Fund (WCF), they loaned thousands of Bitcoin and Ethereum to Gemini. The exchange then used these assets as collateral to secure hundreds of millions in USD loans from third parties like Galaxy Digital and NYDIG to fund operations. During its September 2025 IPO, Gemini settled $695.6 million of its debt to WCF by converting it into super-voting Class B shares at a 20% discount ($22.40 per share) compared to the $28 price public investors paid. This secured the founders 94.7% of the voting control. As of the end of 2025, Gemini still owes WCF 4,619 BTC (approx. $400M), which can be recalled at any time, posing a significant liquidity risk. Despite this, Deloitte issued an unqualified audit opinion without highlighting these related-party transactions or associated risks. Since its IPO, Gemini's stock price has collapsed by 88% to $4.42, facing multiple analyst downgrades and a shareholder class action lawsuit for allegedly misleading investors about its strategic and financial condition.

marsbit04/06 01:25

"Legal" Ponzi Scheme? Uncovering Gemini Exchange and Its Founders' Circular Lending

marsbit04/06 01:25

Crypto Morning Report: Lido DAO Proposes 10,000 stETH Buyback of LDO, Major Unlocks for SUI, OPN, ENA This Week

Cryptocurrency Market Digest: Lido DAO has proposed using 10,000 stETH (approx. $30M) to repurchase LDO tokens, aiming to capitalize on the historically low LDO/ETH ratio. Major token unlocks are scheduled this week, including SUI ($38.32M), OPN ($6.44M), and ENA ($3.64M). In regulatory news, U.S. Senator Thom Tillis plans to release a draft stablecoin yield bill, prompting industry counter-proposals. ICE announced a $600M investment in Polymarket. Meanwhile, 21Shares will distribute staking rewards to investors of its ETH and SOL ETFs. Other developments include Trump's comments on Iran negotiations and sanctions related to Southeast Asian fraud networks.

marsbit03/30 01:14

Crypto Morning Report: Lido DAO Proposes 10,000 stETH Buyback of LDO, Major Unlocks for SUI, OPN, ENA This Week

marsbit03/30 01:14

Former UK Prime Minister Calls Bitcoin A ‘Giant Ponzi Scheme’, Strategy’s Saylor Replies

Former UK Prime Minister Boris Johnson labeled Bitcoin a "giant Ponzi scheme" in a Daily Mail column, arguing it lacks intrinsic value and real-world utility, operates on the "greater fool" theory, and is riskier than traditional assets like gold or even Pokémon cards. He also expressed concerns about crypto fraud impacting ordinary investors. In response, MicroStrategy’s Michael Saylor refuted the claim, stating Bitcoin has no central operator or promised returns, distinguishing it from a Ponzi scheme. He described Bitcoin as a decentralized network driven by code and market demand. BTC was trading around $70,590 at the time of writing.

bitcoinist03/15 10:32

Former UK Prime Minister Calls Bitcoin A ‘Giant Ponzi Scheme’, Strategy’s Saylor Replies

bitcoinist03/15 10:32

Michael Saylor Rejects Boris Johnson’s Ponzi Scheme Claim on Bitcoin

Following criticism from former UK Prime Minister Boris Johnson, who labeled Bitcoin and cryptocurrencies as a "giant Ponzi scheme," prominent advocates Michael Saylor and Eric Trump defended the digital asset. Johnson argued that cryptocurrency values depend on continuous new investor demand, comparing it to a scheme where early investors profit from later entrants. He shared an anecdote of a village investor who lost nearly £20,000 after initial promises of high returns. Saylor, executive chairman of MicroStrategy, rejected the Ponzi scheme claim, emphasizing Bitcoin's transparent monetary system, decentralized nature, and cryptographic verification. Eric Trump highlighted Bitcoin’s global adoption and resilience since 2009. Supporters point to Bitcoin’s limited supply of 21 million coins and its decentralized network as key strengths, contrasting with Johnson’s skepticism about its intrinsic value. The debate reflects ongoing global discussions about digital currency's role in finance.

TheNewsCrypto03/14 13:22

Michael Saylor Rejects Boris Johnson’s Ponzi Scheme Claim on Bitcoin

TheNewsCrypto03/14 13:22

JPMorgan Hit With Lawsuit Tied To $328 Million Crypto Ponzi Scheme

In a proposed class action lawsuit, JPMorgan Chase is accused of enabling a $328 million crypto Ponzi scheme operated by Florida-based Goliath Ventures. The suit alleges the bank ignored red flags and allowed the firm to use its banking infrastructure to process around $250 million, despite Know Your Customer obligations. One plaintiff claims he lost $650,000, including retirement savings. Goliath’s CEO, Christopher Delgado, has been arrested on fraud and money laundering charges. A separate federal case also names Bank of America for its role. The lawsuit argues JPMorgan should have detected and stopped the fraudulent activity.

bitcoinist03/13 08:02

JPMorgan Hit With Lawsuit Tied To $328 Million Crypto Ponzi Scheme

bitcoinist03/13 08:02

Will Trump’s ‘Bitcoin is a Ponzi’ remark crash BTC? Peter Schiff wonders

Bitcoin recovered to around $68,197 after a recent dip toward $62,000, rising nearly 4.75% in 24 hours. Peter Schiff criticized Bitcoin again, suggesting its strength relies on political support from figures like Donald Trump and warning a shift could cause a collapse. He speculated that a negative Trump post could severely impact BTC. However, the market reacted with a price increase, likely due to a short squeeze rather than political sentiment. The crypto community pushed back, arguing Bitcoin's value isn't governed by social media posts. While some supporters echoed Schiff’s long-standing skepticism, the market appears to be on a technical rebound, ignoring political narratives for now.

ambcrypto02/26 11:01

Will Trump’s ‘Bitcoin is a Ponzi’ remark crash BTC? Peter Schiff wonders

ambcrypto02/26 11:01

Bitcoin Scam: Court Hands Man 20-Year Sentence Over $200M Ponzi Scheme

A US court sentenced Ramil Ventura Palafox, CEO of Praetorian Group International (PGI), to 20 years in prison for operating a $200 million Bitcoin Ponzi scheme. From 2019 to 2021, Palafox defrauded over 90,000 global investors by falsely promising daily returns of 0.5% to 3% through cryptocurrency trading. Instead of legitimate trading, he used new investor funds to pay earlier participants and misappropriated millions for personal luxuries, including high-end vehicles and jewelry. The scheme involved over 8,198 Bitcoin and $30 million in fiat. The FBI is now identifying victims for potential restitution, with estimated losses at $62.7 million. Palafox was convicted of wire fraud and money laundering.

bitcoinist02/15 08:35

Bitcoin Scam: Court Hands Man 20-Year Sentence Over $200M Ponzi Scheme