Older generations have been through a substantial rollercoaster with the financial industry in their lifetime. However, as the evolving world changes with the presence of cryptocurrency, the territory seems new and unfamiliar, leading scam artists to take advantage of these investors that are new to cryptocurrency.
As The Block reports, this is exactly the case in a new lawsuit involving Tommy and Christine Garrison. The Garrisons have accused Reginald Buddy Ringgold III aka Rasool Abdul Rahem El of three different crimes. Those crimes include:“violation of federal securities laws, violation of California’s securities laws, and financial abuse of a senior citizen,”
The Block says. The publication states that the issue in this case seems like a matter of misrepresentations, which is unfortunately all too common in the industry.
Based on the information that the Garrisons included in the case, the defendant had convinced the couple to invest their money in multiple crypto ventures. Over the course of the case, it looks like Ringgold had a substantial amount of communication between himself and the Garrisons, leading to the total of $819,784 attributed to Ringgold for the investments.
While the amount alone is huge, the bigger surprise is the actions that Ringgold has taken to ensure that they provided such a high amount. Ringgold had proclaimed to have 17 years of financial industry experience, and his LinkedIn profile shows that he states that he has five entities that he is the authority for. All of the above has proven to be untrue, including that he holds credentials with multiple financial authorities.
The first documented interactions between the Garrisons and Ringgold was in September 2016, though the pressure to hand over the funds did not begin until the middle of 2017.
The Garrisons allege that he took to odd measures to secure the funds, following them into their bank, crying over the lack of satisfying his requests, and yelling/screaming at the couple. Somehow, rather than cutting ties to Ringgold, the couple started to give money to Ringgold.
Over time, as Ringgold received money, he converted the funding to cash, and even guided them through the process of converting the money to Bitcoin with the use of localbitcoins.com. Once the funds were in cryptocurrency, Ringgold took to invest in BitConnect, advice the Garrisons to invest in initial coin offerings (ICOs) and misled the Ringgold. According to the counsel of the Garrisons,“Ringgold misleadingly failed to disclose that ICO tokens are the crypto-version of penny stocks, but worse.”
There is still plenty of allegations left to unravel and investigate in this lawsuit, and there is likely plenty of information that these sympathetic individuals left out.
However, unless the information that Ringgold and the other defendants have will have some sort of legal logic, the outcome will most likely be unfortunate for them.
TRON (TRX) Long-Term Price Forecast- February 17
TRX/USD Long-term Trend: Ranging
Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600
Tron long-term outlook remains in a range-bond market. The bears return predicted in last week analysis remained strong within the range. The two EMAs were broken as the bears continue the downward journey.
TRXUSD dropped initially to $0.02448 and later to $0.02360 in the demand area. This was the low of the week on 14th February.
With price below the two EMAs crossover and the stochastic oscillator signal in the oversold region pointing up at 8%. It suggests a minor push to the upside before downtrend continuation within the range.
TRXUSD is in consolidation and trading between $0.02881 in the upper supply area and at $0.02142 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
Forbes releases newsletter dedicated to crypto targeting potential investors
Forbes released new premium newsletter dedicated to cryptocurrency and blockchain.
Forbes doesn’t seem to get enough crypto. The media giant gets deeper with the nascent technology with their new service, Forbes CryptoAsset & Blockchain.
The new premium-subscription digital newsletter contains in-depth coverage of blockchain, as an effort to establish Forbes as a prominent voice in the field.
According to Media Post, investor and co-author of CryptoAssets: The Innovative Investor’s Guide to Bitcoin and Beyond, Jack Tatar has been appointed as the editor.
While the contributors will be Forbes’ stable journalists that will interview notable figures in crypto space, such as Ripple’s CTO David Schwartz, cofounder and CEO of Zcash, Zooko Wilcox, and Morgan Creek Capital’s Mark Yusko.
“This newsletter is geared toward educating potential investors in blockchain and crypto, and the goal is to provide actionable and profitable advice,” said Matt Schifrin, VP and managing editor of Money & Markets at Forbes.
Despite its premium price, which is set at $595/year or $195/quarter, Forbes’ Senior VP of consumer marketing and business development, Nina La France claimed the early response as “solid”.
Speaking about future publishing plan, Schifrin reveals that Forbes will publish its first-ever Forbes Blockchain 50 list that covers most prominent firms in the crypto space in the coming months.
Is the list something worth waiting for? Stay with Chepicap to find out.
In the meantime, checkout Chepicap’s YouTube channel to find out about the current crypto market state.
Investment portal, TradingView launches premium crypto dashboard at 0.09BTC
TradingView, the investment portal just launched its very own Crypto Dashboard.
The platform known for its exhaustive and real-time information on everything related to trading and investment, TradingView just launched its crypto specific portal.
The crypto dashboard provides data from 25+ crypto exchanges, such as Binance, Bitfinex, Bithumb, BitMEX, BittrexCEX.io and Coinfloor.
The new platform aims to “equip” crypto traders with all things important to nail the trading activities, such as 25 technical indicators on a single chart, unlimited chart layouts and watchlists, 200 server-side alerts and the capability to connect 5 devices at the same time.
The “trading power” is offered in their premium plan that costs 0.09 Bitcoin/year, which the website says as a good deal as it means the lower the Bitcoin price, the higher the discount.
However, that also means that when the bull comes, it wouldn’t be that affordable to many people. Hopefully by then, TradingView would revise their pricing for the benefits of all parties.
The question is, when will the bull come? Check out Chepicap’s YouTube channel to get an idea about the current crypto market state.