Daily Archives: September 2, 2021

$2 Billion Crypto Fraud Bitconnect and Founder Charged — Director Pleads Guilty to Criminal Charges

$2 Billion Crypto Fraud Bitconnect and Founder Charged — Director Pleads Guilty to Criminal Charges

The $2 billion crypto fraud scheme Bitconnect and its founder have been charged in the U.S. In a parallel enforcement action, a Bitconnect director and top promoter has pleaded guilty to criminal charges in the U.S. “The Bitconnect scheme is believed to be the largest cryptocurrency fraud ever charged criminally,” said the U.S. Department of Justice (DOJ).

US Authorities Take Action Against Bitconnect and Its Founder

U.S. authorities continue to take action against the fraudulent crypto trading scheme Bitconnect and its executives this week. “The Bitconnect scheme is believed to be the largest cryptocurrency fraud ever charged criminally,” the DOJ described.

The U.S. Securities and Exchange Commission (SEC) announced Wednesday that it has filed an action against Bitconnect, its founder Satish Kumbhani, its top U.S. promoter Glenn Arcaro, and his affiliated company Future Money Ltd. The SEC noted that Kumbhani, age 35, is an Indian citizen who resided in Surat, India, but whose current whereabouts are unknown.

According to the Commission:

They defrauded retail investors out of $2 billion through a global fraudulent and unregistered offering of investments into a program involving digital assets.

The SEC’s complaint, filed in the U.S. District Court for the Southern District of New York, explains that from early 2017 through January 2018, the “Defendants conducted a fraudulent and unregistered offering and sale of securities in the form of investments in a ‘Lending Program’ offered by Bitconnect.”

The SEC states that the Bitconnect Lending Program “ultimately succeeded in obtaining more than 325,000 bitcoin” from investors worldwide.

The complaint alleges that the “defendants falsely represented, among other things, that Bitconnect would deploy its purportedly proprietary ‘volatility software trading bot’ that, using investors’ deposits, would generate exorbitantly high returns.” The Commission added:

Bitconnect and Kumbhani established a network of promoters around the world, and rewarded them for their promotional efforts and outreach by paying commissions, a substantial portion of which they concealed from investors.

“The SEC’s complaint charges [the] defendants with violating the antifraud and registration provisions of the federal securities laws. The complaint seeks injunctive relief, disgorgement plus interest, and civil penalties,” the Commission continued.

The regulator previously reached settlements with two of the five individuals it charged in connection with promoting the Bitconnect scheme.

Top US Director and Promoter of Bitconnect Pleads Guilty to Criminal Charges

In a parallel action, the Department of Justice announced Wednesday that Arcaro, a Bitconnect director and the top U.S. promoter of the scheme, has pleaded guilty to criminal charges. The DOJ described:

Arcaro admitted that he earned no less than $24 million from the Bitconnect fraud conspiracy, all of which, according to court documents, he must repay to investors.

The Justice Department detailed that the maximum penalty for Arcaro is “Twenty years in prison, $250,000 fine or twice the gross gain or loss from the offense, whichever is greater; forfeiture and restitution.”

What do you think about the U.S. authorities’ action against Bitconnect and its executives? Let us know in the comments section below.

Eastern Europe Sends Over $800 Million in Crypto to Scams in Single Year, Report Reveals

Eastern Europe Sends Over $800 Million of Crypto to Scams in Single Year, Report Reveals

Of all funds sent to illicit cryptocurrency addresses from Eastern Europe, scams attract the greatest amount, according to a new report. In the past year alone, crypto addresses based in the region have sent the fraudulent schemes a staggering $815 million in crypto.

Eastern Europe Leads by Volume of Illicit Crypto Transactions

Among the world’s regions with a total crypto transaction volume of at least $400 million, Eastern Europe is the only one where illicit activity exceeds 0.5% of the total value sent and received, Chainalysis notes in a preview of its 2021 Geography of Cryptocurrency report. In a blog post published Wednesday, the blockchain forensics company revealed:

Between June 2020 and July 2021, Eastern Europe-based addresses sent $815 million to scams, second only to Western Europe.

Crypto addresses in East European countries have the second-highest rate of exposure to illicit addresses, with Africa topping the chart and Latin America ranking third, the excerpt details. However, Eastern Europe has a much larger overall cryptocurrency economy than either of the other regions in the top three.

Eastern Europe Sends Over $800 Million in Crypto to Scams in Single Year, Report Reveals
Source: Chainalysis

Researchers also remark that Eastern Europe accounts for the most web traffic to scam websites during the studied period. Among all nations, Ukraine is the marked leader with more than twice the number of web visits registered in the United States which is a distant second. The total number of monthly East European visitors to crypto scam sites peaked at 12.5 million in January.

Eastern Europe Sends Over $800 Million in Crypto to Scams in Single Year, Report Reveals
Source: Chainalysis

While Eastern Europe sends more digital currency than other regions to darknet markets such as Hydra Market, which targets the Russian-speaking world, scams receive the largest share of East European crypto funds sent to illicit addresses, Chainalysis concludes. “We can assume that most of this activity represents victims sending money to scammers,” point out the authors of the report.

Finiko Ponzi Scheme Collects Over $1.5 Billion Worth of Bitcoin in 2 Years

Chainalysis further notes that over half of the value sent to scam addresses from Eastern Europe went to one particular scam based in the Russian Federation — Finiko. The Ponzi scheme, which enticed crypto investors promising monthly returns of up to 30%, collapsed in July after receiving more than $1.5 billion worth of bitcoin (BTC) since December 2019, mostly from Russian and Ukrainian crypto holders.

Eastern Europe Sends Over $800 Million in Crypto to Scams in Single Year, Report Reveals
Source: Chainalysis

According to Russian media, Finiko has been led by Kirill Doronin, an Instagram influencer also linked to other Ponzi schemes. With incomes falling amid economic difficulties worsened by the coronavirus pandemic, the scam targeted people who needed extra money. Many Russians fell for the financial pyramid scheme, just like in the “wild 1990s.”

Meanwhile, the officially estimated damages in the Finiko case have reached 250 million rubles (over $3.4 million), Forklog reported. The crypto news outlet quoted the latest version of the indictment against the pyramid’s founder in the Russian republic of Tatarstan. Independent experts claim the total losses exceed $4 billion. So far, 80 individuals have been recognized as victims of the scam, although the number of depositors is believed to be at least 850,000.

What are your thoughts on the findings in the Chainalysis report? Let us know in the comments section below.

Vasyl Virastyuk, the Strongest Man on the Planet Has Tokenized Autograph With Philography Project

Vasyl Virastyuk, the Strongest Man on the Planet Has Tokenized Autograph With Philography Project

PRESS RELEASE. Vasyl Virastyuk, the strongest man on the planet in 2004 and 2007, tokenized his autograph through the innovative NFT project PHILOGRAPHY. The strongman was the first to start a partnership with PHILOGRAPHY.BIZ. He provided his original autograph to produce a limited edition of collectible NFT autographs and sell them. This is the project’s first NFT token, which will increase its collectible value and investment value in the long run.

Vasyl Virastyuk is the owner of the 2004 and 2007 World’s Strongest Man titles and the multiple world champion in strongman competitions. According to reputable online media, the athlete is among the top 10 strongest men in the world in mankind’s history.

Vasyl Virastyuk has set a number of world records. Among them:

  • Movement of 5 streetcars weighing 101.5 tons.
  • Movement of 10 cars with a total weight of 16.5 tons over a distance of 18.5 meters.
  • Movement of 7 cars with a total weight of 11 tons over a distance of 25 meters.

Vasyl Virastyuk is a pioneer strongman. He was the first to work with ice when within a minute he lifted and installed four ice cubes weighing 150 kg each on the threshold of 130 cm high.

Under his leadership, the Ukrainian Strongman team has 4 times won the World Strongman National title. In 2007 he defeated Žydrūnas Savickas, the two-time IFSA world champion. After this victory, he became the first athlete in the history of strongman to win both a World’s Strongest Man title and an IFSA World title.

What is the PHILOGRAPHY NFT PROJECT?

PHILOGRAPHY NFT PROJECT is the world’s first repository and auction platform for tokenized NFT autographs. The PHILOGRAPHY team officially collaborates with global celebrities from film, culture, sports, politics, and business and tokenizes their original autographs. All autographs are confirmed (verified) by the celebrities.

PHILOGRAPHY team independently organizes autograph sessions and interviews with celebrities. Subsequently, the team converts autographs into NFT tokens – collectible NFT autographs of the celebrities. PHILOGRAPHY.BIZ produces limited editions of celebrity autograph collections and sells them on the world’s NFT marketplaces – OpenSea and Rarible.

The limited number of NFT autographs guarantees an increase in the collection and investment value of the digital asset in the long term. The next step in the development of the PHILOGRAPHY platform is its integration with British and American auction houses.

The NFT market showed growth last year. In the first half of 2020, the total turnover of NFT tokens reached $232.5 million. The growing interest in NFT tokens is attracting new investments. A few days ago, Visa bought the NFT token “CryptoPunk” for $150,000. As of the second half of 2021, the NFT token market has crossed the $3B mark, and experts predict it will grow further.

“PHILOGRAPHY NFT PROJECT is the blue ocean in the world of investing in collectible autographs of celebrities”, said Vasyl Virastyuk, the world’s strongest man of 2004 and 2007.

The interview of the strongman legend can be found on the official website of the project – PHILOGRAPHY.BIZ. It confirms that the autograph of Vasyl Virastyuk is authentic and it was made by the strongest man in the world for PHILOGRAPHY.

PHILOGRAPHY NFT PROJECT team created and develops an ambitious project, which transforms the existing investment market in collectible autographs of celebrities. The PHILOGRAPHY platform has created an innovative technological tool to protect investors against fake autographs. Thanks to this project, autograph collectors will be assured of their authenticity.

You can buy confirmed collectible NFT autographs of the world celebrities on specialized websites – OpenSea, Rarible and PHILOGRAPHY.BIZ

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

More Zimbabwean Artists Pivot to NFTs as Bubble Concerns Grow

A Zimbabwean artist, Greatjoy Ndlovu, joined the growing list of African artists pivoting to the non-fungible tokens (NFT) market after his digital artwork was sold for 0.7 ethereum. The sale, which took place on the Async Art NFT marketplace, is Ndlovu’s first foray into the digital art space.

NFTs an Opportunity for African Artists

According to a report, Ndlovu’s digital art piece, which is called Burnt Out, depicts the challenges that were experienced by health care workers who were fighting to stop the spread of the Covid-19 pandemic.

In addition, the report says Ndlovu is hopeful that his break into the NFT space will help “inspire many young creators to take a leap and test the market themselves.” According to the artist — who also serves as the Ambassador of SOS Children’s Village — NFTs represent an “alarmingly bright future” for African art makers.

Artists Embrace NFTs

Meanwhile, with this pivot to NFTs, Ndlovu joins Nyasha Warambwa and Indigo Saint, the first artists from Zimbabwe to embrace NFTs. Warambwa, who also goes by the name “Hulio,” reportedly revealed via social media that his two NFTs had been sold for 1.55 ETH (or over $5,700 at current prices).

Indigo Saint, on the other hand, is believed to have sold his NFT inside the first four hours of listing. The works were sold “at a price of 50 SOUL coin which was valued at US$29 on the day.”

However, despite the three artists’ positive remarks about NFTs, some Zimbabweans on social media are raising concerns about a bubble. For instance, one Zimbabwean social media user known as Link Marine remarked: “[An] NFT crash is imminent…only a few months or even weeks.”

Do you see NFTs as a bubble? You can share your views in the comments section below.

Legalized Theft: Police Seize $87,000 From Former Marine but Don’t Charge Him With a Crime

Legalized Theft: Police Seize $87,000 From Former Marine but Didn't Charge Him With a Crime

A recently published report that went viral across social media details how a former U.S. Marine, Stephen Lara, was pulled over by police and was suspected of being a drug trafficker. Police then searched Lara’s vehicle and subsequently took $87,000 in cash from a bag kept in Lara’s trunk. Lara, who also had a stack of automated teller machine (ATM) receipts that showed the funds were legitimate, said “I could not believe that I had just been literally robbed on the side of the road by people with badges and guns.”

Policing for Profit — DEA and Nevada Police Leverage Controversial ‘Adoptive’ Forfeiture Scheme to Take Former Marine’s $87K in Cash

Civil forfeiture has been a problem for a long time in the U.S., as law enforcement has been known to “police for profit” over the last decade. All law enforcement needs to have is the “preponderance of evidence” to seize funds from someone and then leverage the funds for their own use cases.

Since the year 2000, it has been estimated that the government has taken at least $68.8 billion and a great majority of the cases find zero criminal activity involved. The police in America don’t just take cash, they also are known for seizing large quantities of vehicles, properties, and now even cryptocurrencies.

A recent report published by the Washington Post shows how law enforcement seized $87,000 in cash from a former U.S. Marine named Stephen Lara. The former Marine explained he was on his way to see his daughter, driving from Texas to Northern California.

Police pulled him over for allegedly driving too close to another vehicle and asked Lara if they could search his vehicle. Lara complied with the search and told the officers he had “a lot of cash” in his car.

Legalized Theft: Police Seize $87,000 From Former Marine but Don't Charge Him With a Crime
Former Marine Stephen Lara had $87K in cash taken from him by law enforcement but was not charged with a crime. Law enforcement officials leveraged an adoptive forfeiture scheme to take Lara’s money.

Law enforcement said the drug-sniffing canine that was on the scene had smelled narcotics on the cash found in Lara’s vehicle. Lara’s vehicle had zero drugs in it and he was not charged with any crimes.

However, the police called a member of the U.S. Drug Enforcement Administration (DEA) to help with the seizure. It meant that the police could take Lara’s cash without charging him with a crime. Despite having all the ATM receipts and complying with the officer’s search, the state agents took his money. Lara was stunned. Lara told the Washington Post this week:

I left there confused. I left there angry. And I could not believe that I had just been literally robbed on the side of the road by people with badges and guns.

Government Says It Will Return Lara’s Funds, Justin Amash Says ‘Adoptive Forfeiture Is Legalized Theft Authorized Through Executive Policy’

The government has said it would return Lara’s funds but it was only after he hired an attorney and contacted the media. At first, the U.S. Justice Department, DEA, and Nevada Highway Patrol declined to comment on Lara’s story.

However, after the news broke a spokesperson from the DEA said Lara’s money will be returned and that the DEA is “reviewing existing policy on adoptive forfeitures.” The news of Lara’s civil forfeiture story made headlines everywhere and went viral on social media.

The American attorney and U.S. representative for Michigan’s 3rd congressional district from 2011 to 2021, Justin Amash, also spoke out against the government’s actions against the former Marine. Amash said president Joe Biden could end the horrible practices tied to civil forfeiture easily.

“President Biden continues Donald Trump’s abusive and unjust civil asset forfeiture policy known as ‘adoptive’ forfeiture,” Amash said. “It’s legalized theft authorized through executive policy. Biden could end it with a phone call. It needs to end now.”

What do you think about Stephen Lara getting his $87K taken by the Nevada Highway Patrol and the DEA? Let us know what you think about this subject in the comments section below.

IRS Agent Poses as Bitcoin Trader Called ‘Mr. Coins,’ Biden’s IRS Wants ‘Outflow and Inflow’ Data From Banks

IRS Agent Poses as Bitcoin Trader Called 'Mr. Coins,' Biden's IRS Wants 'Outflow and Inflow' Data From Banks

Over the last few weeks, Americans have read about the U.S. Internal Revenue Service (IRS) upping its tax enforcement to catch cryptocurrency users who have not paid taxes. According to one report, the IRS may get access to bank inflows and outflows via Joe Biden’s American Families Plan. On top of this, another story explains how an IRS agent posed as a bitcoin trader called “Mr. Coins” on the peer-to-peer (P2P) marketplace Localcryptos.com in a $180K sting operation.

America’s Tax Agency Is Stepping Up Enforcement via Biden’s American Families Plan

The IRS has been stepping up enforcement against tax evaders and has recently been specifically focused on cryptocurrency transfers. This past April, Forbes contributor Guinevere Moore published a report on how U.S. President Biden’s “American Families Plan” aims to increase IRS enforcement. Essentially, Moore details that America’s financial institutions have always had to report capital gains to the IRS, but under Biden’s plan banks are required to “aggregate account outflows and inflows.”

Two days ago, Bitcoin.com News reported on how the Biden administration is pushing for global crypto data sharing rules in the $3.5 trillion budget bill. At the end of July, the IRS also modified the digital currency question as the tax agency is more focused on finding taxable crypto transfers.

IRS Agent Goes Undercover as ‘Mr. Coins’

Additionally, the IRS has been actively engaged in sting operations and Forbes associate editor, Thomas Brewster, explained on September 1, how an IRS agent went undercover in a $180K sting operation last year.

Brewster said the publication reviewed a search warrant that shows an IRS agent called himself “Mr. Coins” on the P2P marketplace Localcryptos.com. According to the report, Mr. Coins went undercover to bust a darknet market (DNM) drug dealer and conned him into trading $180K in cash for digital assets. Mr. Coins communicated with people via Whatsapp and Wickr and Brewster details that Mr. Coins had a 100% positive feedback rating on the P2P trading platform.

The DNM dealer was arrested in July and the report details that no plea has been filed to-date. The suspect’s lawyer, Localcryptos.com, and the IRS all declined to comment on the matter, Brewster said. The charges were filed in the Eastern District of New York and allegedly the suspect was involved with cocaine, cannabis, and “pills and opioids.”

What do you think about the IRS upping its enforcement against tax evaders and the Mr. Coins sting operation? Let us know what you think about this subject in the comments section below.

Crypto Economy Gains 83% in Value Over Last 3 Months, Myriad of Lesser-Known Coins Spike

Crypto Economy Gains 83% in Value Over the Last 3 Months, Myriad of Lesser-Known Coins Spike

The overall market capitalization of all 10,000+ digital assets has reached a September high of $2.33 trillion as it has risen over 5% on Thursday. The crypto economy hasn’t been at this U.S. dollar value since mid-May or approximately 108 days ago, as the value has increased 83.46% since the crypto economy’s low point on July 19 ($1.27 trillion).

Crypto Economy Rises 83% in Value, But It Wasnt Due to Bitcoin

A lot of money has entered the crypto economy since July 19, and the market capitalization of all the coins in existence today is worth $2.33 trillion. Up more than 5% over the last 24 hours, the crypto economy has not been this valuable in over three months. The last time the crypto economy was in the $2.33 trillion range was May 16, 2021, and prior to that date, it reached an all-time high (ATH) at $2.493 trillion.

Crypto Economy Gains 83% in Value Over Last 3 Months, Myriad of Lesser-Known Coins Spike

On July 19, the crypto economy dropped as low as $1.27 trillion and has since gained 83% in value. In fact, the entire crypto economy only needs to gain more than 6.995% to surpass the last record. At the time of writing, bitcoin (BTC) has managed to hold roughly 40.5% of the $2.33 trillion as far as market dominance is concerned. However, ethereum (ETH) has steadily moved up the ladder and now holds 19.1% of the entire crypto economy’s value.

A Variety of Lesser-Known Crypto Assets Gather Higher Market Dominance Levels

But those two leading crypto assets are not the only coins gathering gains and improving dominance levels. BTC’s dominance levels have slipped downward from 47% on August 1, 2021, to today’s 40.5% dominance. Cardano’s (ADA) market valuation represents 4.37% of the entire crypto-economy, while binance coin (BNB) has 3.7% of the $2.33 trillion value today. The world’s largest stablecoin by market capitalization, tether (USDT), holds approximately 3.01% of the crypto economy’s dollar value.

Crypto Economy Gains 83% in Value Over Last 3 Months, Myriad of Lesser-Known Coins Spike

Other notable coin market caps include xrp (XRP) with 2.28% dominance and dogecoin (DOGE) with 1.78% dominance. Alongside this, many other coins have seen massive gains during the last seven days propelling their market caps higher. Ecash, formally Bitcoin ABC (XEC), is up 155.6% this week, arweave (AR) is up 116.7% in seven days, and fantom (FTM) has gained 66.4% this week. Approximately 25 crypto assets this past week have seen double-digit gains above the 10% region.

What do you think about the crypto economy’s 83% gain since July 19? Let us know what you think about this subject in the comments section below.

South African Tax Body Updates Crypto Tax Guidance, Confusion Persists

In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct treatment of taxable crypto events. The new guidance, which was published on the revenue collector’s webpage, explains how cryptocurrency-related income should be disclosed in tax returns.

Distinction Between Income and Capital Gains Tax

As shown on SARS’ crypto-asset tax webpage, “income received or accrued from crypto assets transactions can be taxed on revenue account under ‘gross income.’” Alternatively, the new guidance says such gains “may be regarded as capital in nature, as spelt out in the Eighth Schedule to the Act for taxation under the Capital Gains Tax (CGT) paradigm.”

SARS also reveals that “taxpayers are also entitled to claim expenses associated with crypto assets accruals or receipts, provided such expenditure is incurred in the production of the taxpayer’s income and for purposes of trade.”

Meanwhile, a tax consulting firm, Tax Consulting SA, told to Bitcoin.com News in an email that the publication of the guidance should perhaps be best viewed in the context of the various comments recently made by SARS on the taxation of crypto assets.

As previously reported by Bitcoin.com News, South African crypto holders found on the wrong side of the law now face possible jail time. Similarly, Tax Consulting SA asserts that the new crypto asset tax guidance is another reminder of how SARS now sees crypto tax as an important revenue source and the extent to which it will go to enforce compliance.

The Cost of Not Disclosing

Consequently, in its analysis of the new guidance, the Tax Consulting SA team says “all individuals who have acquired and held crypto assets during the tax year must disclose these holdings to SARS in their returns, regardless of whether any taxable events took place.” The team cautions however that “this is easy to get wrong and taxpayers should be sure to tread carefully.” Tax Consulting SA also warned:

Where you do not make this disclosure, even negligently, this is now a criminal offence under the Tax Administration Act.

Concerning the “confusion” on whether a taxable event should be treated as income or capital gains tax, the consulting firm insists that the “information published [by SARS] earlier this week only gives examples of capital gains tax disclosures.” Also, since the revenue collector has not given examples of income tax disclosure, it “means taxpayers may fall on the wrong side of the law by just following the guidance provided by SARS.”

Yet, despite this lack of clarity, Tax Consulting SA insists crypto holders still have to disclose because “there is no legitimate way for crypto asset investors to remain ‘invisible’ from a SARS perspective.” The firm argues that “non-disclosure is permanent and [that this] will come back in a few years to catch up with the taxpayer.”

What are your views on SARS’ latest crypto tax guidance? Tell us what you think in the comments section below.

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league.

Watch Akon’s Video Here

What is Play-to-Earn?

Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved.

Play-to-Earn games are essentially free to play and open to anyone and everyone. By simply using the platform players can earn native platform tokens or NFTs – both of which have real-world value. Allowing players to earn tokens and NFTs that can be sold or traded has created a paradigm shift in online gaming – Polker is leading the way with the Play-to-Earn poker platform.

Why Polker.Game?

With Play-to-Earn blockchain gaming growing at an unprecedented pace, Polker.game is poised to change the world of online poker with its unique approach to gameplay. Since the chips used in Polker have no value – the game removes the gambling aspect of poker whilst maintaining prizes that have real-world value. Polker’s play-to-earn poker platform is about competition and skill instead of gambling. Although still in the early days, Polker NFTs have already sold for $10,000 (3.8ETH) on OpenSea.

Growth Potential of Polker (PKR)

With Akon supporting the platform and Polker’s play-to-earn poker platform being live, Polker and $PKR have a huge amount of growth potential. The fact that $PKR is now being listed on centralized exchange BitMart increases this potential massively.

The business model that Polker follows is similar to that of AXIE INFINITY (AXS) which has a fully diluted market cap of $19.4bn at the time of writing. Polker (PKR) currently has a fully diluted market cap of $40.2m. If PKR were to reach the same market cap as AXS then the current value would increase over 482x. Simply put, a $1000 investment in PKR today would be worth over $482,000 if Polker were to grow to the same market cap as AXIE INFINITY.

Even reaching half the market cap of AXS in the short-term which is a much more reasonable expectation would allow for a 24,000% increase in value – an ROI that is too good to miss out on for any investor, especially with Akon backing the platform.

Polker Listing on BitMart

Polker (PKR) is a cross-chain token with a functional bridge between Ethereum, Binance Smart Chain (BSC), and Tron – with a Polygon bridge under development. Until now, $PKR has only been tradeable on decentralized exchanges UniSwap, and PancakeSwap. Now listed on popular and centralized exchange BitMart, Polker (PKR) can be traded by a much larger demographic with the newly listed USDT-PKR pair.

With BitMart listing $PKR and Akon shouting out the play-to-earn poker platform offered by Polker the potential of this platform is unrivalled.

Website | Twitter | Telegram | Telegram Announcements | Facebook | Medium


This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Shop.com Announces Cryptocurrency Acceptance to ‘Kick off the Next Chapter’ of Business

Shop.com Announces Cryptocurrency Acceptance to 'Kick off the Next Chapter' of Business

This past weekend at the Market America Worldwide Shop.com 2021 International Convention (MAIC2021), the president of the e-commerce firm, Steve Ashley, announced Shop.com sites from around the world will be accepting cryptocurrencies via Bitpay. This means that bitcoin, ethereum, bitcoin cash, and several other digital assets can be used to purchase products via Shop.com’s websites.

Shop.com Now Accepts Digital Currencies via Bitpay

Shop.com is accepting cryptocurrencies via Bitpay, the largest crypto payment service provider in the world. Steve Ashley the president and COO of Shop.com announced “the use of cryptocurrency as the next chapter in purchasing products on all Shop.com sites.” Ashley revealed the crypto support at the Market America Worldwide Shop.com 2021 International Convention (MAIC2021).

“Today I’m announcing that Shop.com is going to be offering bitcoin, ethereum, and several other cryptocurrencies through Bitpay,” said Ashley. “We’re going to be offering this at Shop.com sites worldwide in all of our Market Countries,” Ashley added.

Shop.com is a fairly popular e-commerce web portal that’s ranked 26,133 worldwide and 191 against “E-commerce and shopping” websites, according to similarweb.com statistics. Shop.com is owned by Market America, a multi-level marketing (MLM) firm that was created in 1992. Market America purchased Shop.com for an undisclosed sum at the end of 2010. Market America also specializes in manufacturing a line of Isotonix it introduced to the public the year after the company started.

“Shop.com and Market America are such great brands,” Sonny Singh, Bitpay’s chief commercial officer said in a statement sent to Bitcoin.com News. “What I really like about them as such a great fit is because of your international presence. The fact that you’re only doing 40% of your volume in America means it’s a really global brand,” Singh added. The Bitpay chief commercial officer continued:

In countries like Taiwan, Thailand, Argentina, Brazil, and Indonesia, it’s very hard to make payments. Credit cards are not everywhere and in those countries, Bitpay and crypto is the cheapest, quickest payment option to accept Bitcoin and to receive crypto payment options as well.

JR Ridinger, the founder and CEO of Market America, said that Shop.com, thanks to Steve Ashley’s leadership, continues to be a trendsetter. “As different online retailers scramble to create a plan of action to implement things like accepting cryptocurrency as a method of online payment, thanks to Steve Ashley – we’ve already done that,” Ridinger said.

When visiting the Shop.com website, the web portal displays a newly added message about the crypto acceptance. The message leads to a page that describes how Shop.com customers can leverage the Bitpay crypto payment system to pay for items. The website also details that Shop.com customers can “earn cashback on thousands of products with Bitpay.”

What do you think about Shop.com announcing that the firm has implemented crypto acceptance across all of its websites? Let us know what you think about this subject in the comments section below.