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The Crypto Basic
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4 Russian Nationals Okhotnikov, Oblamska, Sergeev, and Maslakov, the founders of the dubious cryptocurrency investment platform Forsage Indicted in Running a $340 Million Crypto Ponzi Scheme by US authorities.
#Forsage
#crypto2023
#Cryptonews
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Crypto companies, including #Ripple , contribute millions to fund the inauguration celebrations of United States President-Elect Donald Trump. According to a FOX Business report, Ripple pledged to contribute $5 million worth of XRP to the Trump-Vance inaugural committee. This organization is responsible for funding the three-day inaugural celebration of Trump and his Vice JD Vance following their victory in last month’s presidential election. Notably, the activities, including dinners, parades, and galas, will occur before and after Trump’s inauguration on January 20, 2025. FOX Business claimed the company confirmed its contribution to the fund. Other Crypto Companies Donations Besides Ripple, other notable crypto companies have also donated heavily to the Trump-Vance inaugural committee. In particular, U.S. crypto exchanges Coinbase and Kraken donated $1 million each. Other crypto companies, such as MoonPay and Robinhood, have also promised to contribute to the fund. However, they did not reveal the exact amount of their upcoming contributions. Despite the contributions made by crypto outfits, their donations represent only a fraction of the $200 million the fund has raised so far. Interestingly, a source close to the fund expressed confidence that the figure could spike to $225 million before January 20.
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Metaplanet, a popular Japanese firm committed to accruing #Bitcoin , has concluded its latest move to raise capital for more acquisitions. In a release on December 20, Metaplanet announced it has leveraged a debt instrument to buy more Bitcoin. It disclosed raising 5 billion yen ($32 million) through a bond offering to expand its holdings of the flagship cryptocurrency. Per the announcement, the latest offering is its 5th ordinary bond issuance. The Japanese firm noted that it offered the financial instrument to EVO FUNDS, who indicated interest following an announcement that it intends to raise another 5 billion yen in its just-concluded 4th ordinary bond issuance. Metaplanet Raises Zero-Interest Loan for Bitcoin Purchase Meanwhile, the Japanese MicroStrategy disclosed that the $32 million raised today carries no interest rate. This means it will not share retributions from its Bitcoin purchase or pay APYs to EVO FUNDS. Furthermore, the loan repayment is due in six months, specifically June 2025. Metaplanet noted that EVO FUNDS will redeem the bond in full at 100 yen per 100 yen principal amount for each bond. According to the disclosure, the value of each bond is 250 million yen. Hence, the firm will redeem at the rate on the due date or with a written request stating its intention for early recompense.
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