Pastor Blames God for Commanding a $3.2M Crypto Scam + More Crypto News

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Pastor Blames God for Commanding a $3.2M Crypto Scam + More Crypto News

Eligio Regalado. Supply: Molly White / Twitter

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On this version:

  • Pastor Blames God for Commanding a $3.2M Crypto Rip-off
  • Solana and Polychain-Backed VC Lead $5M Seed Elevate to Problem Google
  • Bybit Pronounces ByBUIDLERs Era 2 For the Subsequent Wave of Crypto Influencers


Pastor Blames God for Commanding a $3.2M INDXcoin Crypto Rip-off

As Cryptonews just lately reported, the US Colorado Division of Securities has filed civil fraud expenses in opposition to Eligio (Eli) and Kaitlyn Regalado for alleged violations of the anti-fraud, licensing, and registration provisions of the Colorado Securities Act.

Per the press launch, pastor Eli Regalado and his spouse Kaitlyn created, marketed, and offered a cryptocurrency ‘INDXcoin’ to Christian neighborhood members.

INDXcoin was additionally supplied via the Kingdom Wealth Alternate, which the duo created, managed, and operated.

From June 2022 to April 2023, INDXcoin raised practically $3.2 million from greater than 300 people.

Regalado claimed that God advised him buyers would grow to be rich in the event that they invested cash into INDXcoin.

Following the grievance, Regalado issued a video stating that he and his spouse took “god at his phrase.” Per the video,

“So how this complete factor began is the Lord advised us in ’21 to stroll away from our advertising firm. And he stated, “I’m going to do a brand new factor.” After which he took us into this cryptocurrency.”

He continued,

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“Properly, that cryptocurrency turned out to be a rip-off. And so the Lord says, “Give that to ’em, but additionally give them a 10X.” And I’m like, “Properly, the place’s this liquidity going to return from? And the Lord says, “Belief me.””

Per the grievance, “the Regalados had no expertise in cryptocurrency which was clear when a third-party auditor’s report allegedly described their INDXcoin code as unsafe, unsecure and riddled with critical technical issues.”

The 2 allegedly ignored the report and continued to advertise the INDXcoin crypto rip-off as a low-risk, high-profit funding. In actuality, the INDXcoin was illiquid and virtually nugatory.

Buyers misplaced hundreds of thousands, and the husband and spouse duo used these funds to assist their lavish life-style.

Solana and Polychain-Backed VC Lead $5M Seed Elevate to Problem Google

Decentralized knowledge market builder Masa Community introduced $5.4 million in its Seed Fundraising Spherical led by Anagram, co-founded by Solana Basis President Lily Liu and former Polychain President Joe Eagan.

Further buyers embody Avalanche Blizzard Fund, Digital Foreign money Group, GoldenTree, OP Crypto, Unshackled Ventures, PEER VC, and others.

This most up-to-date seed spherical brings Masa’s whole funding to $9.2 million. The workforce will use the funds to assist Masa’s Q1 Mainnet Launch on a devoted Avalanche Subnet via a strategic partnership with Avalanche and constructing the zk-Knowledge Community.

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In line with the press launch shared with Cryptonews, Masa is constructing a “Decentralized Google,” an open, safe, and incentivized economic system for the world’s private knowledge.

“It shifts energy again to people, with out compromising knowledge privateness, via leveraging cutting-edge zero-knowledge and fully-homomorphic encryptions,” it stated.

Customers can contribute their knowledge to the community and get rewarded in Masa’s native token.

Builders can entry this knowledge to coach AI fashions, run analytics, and construct progressive functions in a privacy-preserving method.

Since launching in August 2022, Masa has seen over 1 million linked wallets, over 15 million permissioned knowledge factors, and over 23,000 testnet node operators.

Bybit Pronounces ByBUIDLERs Era 2 For the Subsequent Wave of Crypto Influencers

Crypto alternate Bybit has introduced the launch of the second era of its ByBUIDLERs Program.

According to the press launch, its unique program was a “resounding success.” Subsequently, Bybit goals to assist extra people grow to be influential content material creators and neighborhood influencers within the crypto world, it stated.

Launched in Could 2023, the primary version of the ByBUIDLERs Program introduced collectively 60 enthusiastic people from Vietnam, Africa, Indonesia, Poland, and Nigeria. Their collective efforts resulted in a major improve in Bybit’s social media engagement, stated the alternate, with a complete impression rely reaching 500,000.

Era 2 of the ByBUIDLERs program brings enhancements, together with an expanded outreach to Europe and Australia, complete coaching for participant growth, and a brand new factors system.

Individuals will have interaction in various roles, together with enterprise growth, moderation, occasion organizing, content material creation, and advertising. Their contributions will earn factors and probably rewards, equivalent to unique merchandise, non-public occasion invites, and “substantial bonuses.”

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