1 days ago
The U.S. Department of Justice (DOJ) says it has nearly recovered all the losses suffered by tens of thousands of investors in the largest Ponzi scheme in history. In a press release, the DOJ says that throughout the course of a decade, it has disbursed more than $4.3 billion to 40,930 victims of a fraud scheme led by Bernard L. Madoff. Madoff is known for running a Ponzi scheme for about 17 years that defrauded investors from 127 countries out of approximately $65 billion. The perpetrator convinced people to invest in his firm, Bernard L. Madoff Investment Securities LLC, by promising decent returns while maintaining a trustworthy persona. The scheme collapsed at the height of the 2008 Global Financial Crisis (GFC) when investors panicked and withdrew their funds en masse only to find out that their money was being used to pay other investors. In June 2009, Madoff was sentenced to 150 years in prison for “running the largest fraudulent scheme in history.” He died in a prison hospital in April of 2021 at 82 years old. The DOJ says it recovered about $2.6 billion through several civil forfeiture actions against Madoff, his brother Peter B. Madoff, his co-conspirators and his clients who benefitted from the scheme including investors Carl Shapiro and Jeffry Picower. The agency also collected $1.7 billion after banking titan JPMorgan Chase settled accusations that the firm failed “to carry out its legal obligations” while serving as Madoff’s primary bank. Says Acting U.S. Attorney Edward Y. Kim for the Southern District of New York, “This office has never stopped at pursuing justice for victims of history’s largest Ponzi scheme… We have succeeded in compensating 40,930 victims with close to 94% of their losses. As this extraordinary effort demonstrates, this office and MLARS (Money Laundering and Asset Recovery Section) are committed to protecting and assisting victims of crime, no matter how long it takes and no matter how complicated the endeavor.” 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 U.S. Justice Department Hands $4,300,000,000 To 40,930 Victims of ‘History’s Largest Ponzi Scheme’ appeared first on The Daily Hodl .
The Daily Hodl
You can visit the page to read the article.
Source: The Daily Hodl
Tags :
Scams, Hacks & Breaches Bernie Madoff fraud News Scams Schemes US DOJ
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
2 cryptocurrencies to reach a $100 billion market cap in Q1 2025
Bitcoin ( BTC ) surpassed the $100,000 psychological barrier for the first time in 2025, rallying to $101,184 at press time. This surge highlights growing momentum in the cryptocurrency market, fueled by anticipation of pro-crypto policies under President-elect Donald Trump , who is set to take office in two weeks. Meanwhile, the global cryptocurrency market cap has risen to $3.76 trillion, reflecting a 1.9% increase over the last 24 hours. In this bullish environment, several altcoins are approaching key milestones, with some nearing the $100 billion market cap threshold, positioning themselves for potential breakouts in the coming weeks. Finbold has identified Dogecoin ( DOGE ) and Cardano ( ADA ) as cryptocurrencies on track to surpass the $100 billion market cap milestone by the end of Q1 2025, reflecting their strong market performance and growing investor confidence. Dogecoin (DOGE) Dogecoin, currently priced at $0.3877 with a market cap of $57.19 billion, is well-positioned to reach a $100 billion market cap in Q1 2025. Recent data from CoinGlass reveals a surge in investor activity, with open interest rising by 39.91% to $4.08 billion and options open interest soaring by 103.95%. This sharp increase in demand signals growing market confidence and positions DOGE for a potential bullish breakout. Dogecoin price and market cap. Source: CoinMarketCap Whale activity has further reinforced this bullish sentiment, with over 1.08 billion DOGE accumulated , indicating market optimism. Historical trends suggest Dogecoin has the potential for exponential rallies, with technical indicators highlighting interim targets at $0.50, $1, and beyond. Trading volume, now at $6.06 billion, combined with a short squeeze that liquidated $6.64 million in short positions, has added to the upward pressure on DOGE’s price. With its strong community backing, growing adoption, and the ability to capitalize on meme-driven popularity, Dogecoin could realistically break resistance levels to hit a $100 billion market cap, translating to a price of approximately $0.677. Cardano (ADA) Cardano, currently priced at $1.10 with a market cap of $38.67 billion, has demonstrated remarkable momentum as it leads the crypto market recovery in the early days of 2025, gaining over 30% in just the first few days of the year. Cardano price and market cap. Source: CoinMarketCap This rally has been fueled by a combination of network advancements, including the introduction of the CIP-113 proposal , which aims to bring programmable assets, enhanced security, and smart accounts to the ecosystem. This could potentially enable Cardano to support stablecoins , securities, and real-world asset tokenization. Supporting this bullish outlook, the data from DefiLlama shows Cardano’s Total Value Locked (TVL) in DeFi has surged by 26% over the past week to reach $580.2 million, aligning closely with its price increase. This indicates that ADA’s rally is driven by organic demand rather than speculative trading, laying a solid foundation for sustainable growth. To reach a $100 billion market cap in 2025, ADA’s price would need to rise to approximately $2.84. This target appears achievable given Cardano’s strong trajectory and its performance relative to the broader market recovery, where it has outpaced other major cryptocurrencies like Bitcoin and Ethereum ( ETH ). Technical indicators also reinforce this bullish outlook, with projections pointing toward a potential breakout from a bull pennant pattern, targeting a price level of $3. With its robust network developments and increasing adoption, Cardano is well-positioned to achieve this milestone in 2025. With an expanding ecosystem and increasing market confidence, these two cryptocurrencies are well on their way to achieving significant milestones in the coming weeks. Investors should keep a close eye on these assets as they navigate through the volatility and capitalize on the potential gains ahead. Featured image via Shutterstock The post 2 cryptocurrencies to reach a $100 billion market cap in Q1 2025 appeared first on Finbold . The Daily Hodl
Bitwise CEO Hunter Horsley Predicts Tokenization Will Revolutionize Equity Markets – Here’s How
The head of a prominent crypto investment management firm foresees one “non-obvious” way in which tokenization, the process of converting traditional assets to tokens on blockchain, will impact markets. In a new post on the social media platform X, Bitwise CEO Hunter Horsley lays out how he sees tokenization upending traditional stock and equities markets. “With tokenization, people have focused on the demand side: democratize access to money market funds by tokenizing them! There’s value there, but I think the demand side is potentially not the revolutionary story. I think the revolution is the supply side.” According to Horsley, the revolution lies in tokenization’s inherent ability to lower barrier to entry costs for raising capital. “Today, there are around 4,600 companies in the US that are able to access the public equity markets. The NAICs (National Association of Insurance Commissioners) estimates there are over 200,000 companies in the US doing over $10M in revenue. Not all companies want to be public of course; but many simply can’t because it requires immense scale. Enter tokenization, a new democratized capital market… Want to be invested in your local dry cleaner or hometown barber shop?” According to Horsley, this largely untapped resource could revolutionize how small to medium-sized businesses raise capital. 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. Featured Image: Shutterstock/tykcartoon/Fotomay The post Bitwise CEO Hunter Horsley Predicts Tokenization Will Revolutionize Equity Markets – Here’s How appeared first on The Daily Hodl . The Daily Hodl
