Skip to main content

Featured Story

Produced by Daniel Aharonoff & Mogul Media AI

MicroStrategy Plans $500M Bitcoin Acquisition Strategy

MicroStrategy's Bold Move: Another Bitcoin Buying Initiative In a landscape where digital currencies are reshaping the financial world, MicroStrategy has taken a decisive step to further solidify its position as a leader in Bitcoin investment. The company has announced a proposed private sale of $500 million in convertible senior notes, aimed at institutional buyers, to bolster its already substantial cryptocurrency holdings. This strategic maneuver not only underscores MicroStrategy's commitment to Bitcoin but also reflects the growing confidence in digital assets as a means of preserving wealth. Key Details of the Proposed Sale Amount : $500 million in convertible senior notes Target Buyers : Institutional investors Maturity : Due in 2031 Purpose : To acquire additional Bitcoin Just last week, MicroStrategy had revealed plans for a $600 million private sale for the same purpose, showcasing an aggressive approach to expanding its cryptocurrency portfolio. With thi...
Post a Comment
Read more
Produced by Daniel Aharonoff & Mogul Media AI

Unraveling SEC's Lawsuit Against Brian Sewell

EthDan’s Analysis of SEC Lawsuit Against Brian Sewell and Rockwell Capital Management

As the Securities and Exchange Commission (SEC) continues to crack down on fraudulent activities in the digital assets space, another lawsuit has emerged, this time involving U.S. crypto entrepreneur Brian Sewell and his company, Rockwell Capital Management. The SEC alleged that Sewell targeted students with promises of lucrative returns through an AI-powered crypto hedge fund, only to abscond with $1.2 million in Bitcoin from 15 investors, never launching the fund as promised.

Allegations and Settlement Details

  • Brian Sewell and Rockwell Capital Management were accused of defrauding students by luring them into investing in a non-existent crypto hedge fund.
  • Sewell allegedly held investors’ funds in Bitcoin, which were later stolen in a hack, resulting in the loss of all the invested cash.
  • The SEC complaint stated that Sewell concealed the hack and losses from investors to perpetuate the fraud.
  • In the settlement, Rockwell Capital Management agreed to pay disgorgement and prejudgment interest totaling \(1,602,089, while Sewell agreed to a civil penalty of \)223,229 without admitting or denying the allegations.

SEC’s Response

  • Director of the SEC’s enforcement division, Gurbir S. Grewal, emphasized the SEC’s commitment to holding accountable those who mislead investors with attention-grabbing technologies like AI, crypto, and DeFi.
  • Grewal highlighted that Sewell allegedly deceived students with false promises of significant returns through the American Bitcoin Academy course, which turned out to be non-existent.

This case serves as a stark reminder of the risks associated with fraudulent schemes in the digital assets space and underscores the importance of regulatory oversight to protect investors. The SEC’s swift action against Brian Sewell and Rockwell Capital Management sends a strong message that deceptive practices will not be tolerated in the evolving landscape of digital assets.

Email Post

Comments

Post a Comment

Trending Stories