The CEO and co-founder of purported cryptocurrency investment firm Wolf Capital just pleaded guilty to his role in a Ponzi scheme that looted millions of dollars from investors. According to the U.S. Department of Justice (DOJ), Travis Ford used Wolf Capital’s website, social media and internet-based promotional activities to solicit investments between January 2023 and August 2023. Court documents show that the 35-year-old Oklahoma resident enticed investors by presenting himself as a sophisticated trader who can give high returns of 1% to 2% per day, or approximately 547% in one year. “Ford made such false promises to induce members of the public to invest money in the company.” The DOJ says Ford has now admitted that he did not believe it is possible to consistently deliver the promised returns. Wolf Capital managed to raise $9.4 million from 2,800 investors, but Ford misappropriated and diverted the funds to benefit himself and other conspirators, causing financial damage to the investors. On Thursday, he pleaded guilty to one count of conspiracy to commit wire fraud. The crime is punishable by up to five years of prison time, but a federal district court judge will determine the appropriate sentence after considering US sentencing guidelines and other statutory factors. The court has not yet set the sentencing date. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Founder Pleads Guilty to $9,400,000 Ponzi Scheme That Defrauded Thousands of Investors appeared first on The Daily Hodl .
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Dormant BTC Awakens: Over 750 Sleeping Bitcoin Enter Circulation as Prices Consolidate
During the initial 12 days of 2025, approximately 756.204 dormant bitcoins (BTC), valued at $71.8 million, have reentered circulation after years of inactivity. This revival occurs as bitcoin is trading 12% below its peak of $108,364, achieved 26 days prior on Dec. 17, 2024. $71M Worth of Sleeping Bitcoin Resurfaces This month has so far The Daily Hodl
Whales Scoop Up 1 Billion XRP in 2 Days as Investors Brace for Price Explosion
Despite XRP’s ongoing consolidation, following a drop of around 9% from its recent highs of $2.90, whales appear to be seizing the opportunity presented by the dip. On Friday, popular crypto analyst Ali Martinez highlighted this development, tweeting that, “ Whales bought roughly 1 billion XRP in the last 48 hours.” Notably, this purchase, valued at approximately $2.3 billion, represents the largest accumulation of XRP in nearly three years. The previous significant buy occurred on December 16, 2024, when Whales acquired over 830 million XRP within 24 hours. The other recent acquisition on January 2 saw whales amass an additional 360 million XRP in a mere 48 hours, further fueling speculation that a major price surge may be imminent. On-chain data also reveals a significant increase in XRP accumulation over the past two months, with wallets holding over 100 XRP spiking to 1.7 million after remaining flat for a year. The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is a key factor influencing whale activity. The SEC’s lawsuit, initiated in December 2020, alleges that XRP is an unregistered security. However, recent developments have sparked optimism, especially with the potential appointment of Paul Atkins, a pro-crypto advocate, as the new SEC Chair. Experts believe that a favorable ruling or settlement could significantly boost XRP’s market position, driving both retail and institutional interest. Beyond legal factors, XRP’s technological capabilities are also attracting whale investors. The recent launch of the RLUSD (Ripple Liquidity US Dollar), a stablecoin powered by the XRP Ledger, has added a new layer of utility to the ecosystem. The RLUSD offers an efficient and scalable solution for cross-border payments, leveraging XRP’s fast transaction speeds and low fees. In addition to the RLUSD launch, the continued growth of the XRP Ledger, along with its expanding partnerships and technological advancements, is further boosting its utility and attracting significant interest from large investors. Over the past year, the XRP Ledger’s decentralized exchange (DEX) volume and Total Value Locked (TVL) have grown exponentially, with TVL approaching $69.5 million. Additionally, the heightened interest from whales can also be attributed to XRP’s impressive market performance. Since the November 2024 election, XRP has surged by over 400%, significantly outpacing major cryptocurrencies like Bitcoin. Many investors believe that as the regulatory landscape continues to improve and technological advancements take shape, further price appreciation for XRP is not only possible but likely. Meanwhile, technical indicators show a bullish trend, with the Moving Average Convergence Divergence (MACD) above the signal line, suggesting upward momentum. The Relative Strength Index (RSI) at 55.7 indicates neutral momentum, leaving room for further gains. With the 20-day Exponential Moving Average (EMA) positioned above the 50-day EMA, the outlook for XRP remains positive. At press time, XRP was trading at $2.54, reflecting a 2.3% increase in the past 24 hours. The Daily Hodl