Washington Regulator Warns of Miami Equity Fund 005 Crypto Fraud

July 26, 2024 Bitcoin.com

Crypto users propose dropping lawsuit against Sam Bankman-Fried to pursue FTX influencers

April 19, 2024 Coin Telegraph

Subject to approval, the proposed settlement would resolve a civil suit between the former FTX CEO and users seeking recourse for losses during the fall of the crypto exchange.

A group of cryptocurrency users has reached an agreement with former FTX CEO Sam “SBF” Bankman-Fried as part of a class-action lawsuit filed in Florida.

In an April 19 filing in United States District Court for the Southern District of Florida, plaintiffs who sued FTX influencers in 2022 announced they had reached a settlement with Bankman-Fried. According to the filing, the plaintiffs recognized the expense and length of proceedings should they continue to pursue judgment against SBF, opting to use some of the information presented at his criminal trial to continue their case against FTX promoters.

“[Bankman-Fried] has knowledge and other information that Class Representatives and Class Counsel believe will be valuable to Class Representatives’ cases against other defendants in the FTX MDL [multidistrict litigation], particularly relating to the underlying actions and their connection to Miami, Florida, where FTX’s U.S. headquarters were based, as well as each MDL Defendants’ knowledge of and assistance with the actions and connections to other states in which jurisdictions over those Defendants is asserted,” said the April 19 filing.

Miami Fraudster Sentenced to 63 Months in Prison for Duping Banks out of $4,000,000 in Crypto Scheme

December 1, 2023 The Daily Hodl

Not Just Robert Kennedy Jr: US Presidential Candidate Francis Suarez Enables Crypto Campaign Contributions

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Bitcoin set to ‘tick, tick, tick’ by the end of 2023: DeFi exec

May 21, 2023 Coin Telegraph

Bitcoin 2023

In an exclusive interview with Cointelegraph, Obi Nwosu, CEO and co-founder of Fedi explains why it will “be clear” that Bitcoin’s ecosystem will come out on top by the end of this year.

Bitcoin (BTC) is poised to claim the cryptocurrency throne by the end of 2023, as its superiority “is going to be clear” in every aspect, according to Fedi’s CEO.

During the Bitcoin 2023 event in Miami on May 20, Cointelegraph reporter Joe Hall interviewed Obi Nwosu, the CEO and co-founder of Fedi – a Bitcoin community custody protocol that offers an alternative solution for those who lack access to or don’t trust centralized exchanges.

Catching up with homies is the best part of conferences. @obi @FelixWeis taking the picture!

Known these dudes for over almost a decade now! And what a decade it's been! pic.twitter.com/1UcfX6KdIg
— Marshall Long (@OGBTC) May 19, 2023

Nwosu emphasized during the interview that it is becoming “increasingly hard to deny” that Bitcoinhas the “fastest, cheapest, easiest, most decentralized and secure” ecosystem.

He anticipates that this will become even more apparent by year-end. He noted:

“It is going to be clear by the end of this year that it’s going to be tick, tick, tick for Bitcoin.”

Nwosu said that regardless of whether the goal is to develop functionality, establish a decentralized social media network, or even empower local communities, it is becoming “increasingly obvious” that Bitcoin is the most efficient and secure solution.

However, he does believe there is space for other cryptocurrencies in addition to Bitcoin. He envisions a “multi coin future,” comparing it to the evolution of music.

“I mean there are still record players and vinyl right…there’s still some people who like tapes and laser disks.”

Furthermore, he emphasized there is a “big misunderstanding” regarding Bitcoin's “slow innovation.”

He explained that there is a misconception that there is a functional or scaling limitation with Bitcoin, but the “reality is” developments are happening "incredibly fast," with a focus on creating solutions “that are correct the first time.”

Nwosu pointed out that prioritizing perfection may cause delays but is preferable to the need for changes to be made “again, and again.”

In Nwosu’s view, cryptocurrency is essentially “an idea,” as it “is a combination of the philosophical aspects and the technological aspects kind of combined together”.

He explained that due to the intangible nature of cryptocurrency, it cannot be combated with physical forces such as “guns or missiles.” Instead, it is vulnerable to attacks through “misinformation and sometimes inappropriate or extreme regulation.”

Countries lacking belief in freedom of speech, or just freedom overall, are actively looking at this stringent regulation towards cryptocurrency, according to Nwosu.

He believes that the key to fight back against this is to “correct” misinformation and create systems that “empower the good guys.”

Magazine: Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?

Miami blockchain folk hero secures $5M for community tokenization

May 17, 2023 Coin Telegraph

Miami blockchain folk hero secures M for community tokenization

Captain Haiti

The fund will be used to help residents secure affordable housing through blockchain initiatives.

On May 17, the Captain Haiti Foundation, a 4947(a)(1) charitable trust, announced a $5 million raise sponsored by private equity firm Dargent Group.

The Captain Haiti Foundation says the partnership aims to leverage blockchain technologies to “combat Miami’s housing crisis and the ongoing gentrification of the Haitian community [in Miami]." Nandy Martin, who is also known as Captain Haiti and serves as the foundation’s chairman, explained that the fund will be dedicated to helping residents acquire land, family homes and commercial real estate in the Little Haiti neighborhood of Miami.

“By achieving just 5% of Wynwood’s Wall success, our Little Haiti Walls initiative could attract 150,000 tourists annually, stimulating local businesses and amplifying cultural exchange."

For the first step, Martin will partner with Web3 music infrastructure provider Nusic to release a limited edition geo-located music nonfungible token collection granting first-option real estate purchase rights to collectors. Additionally, the Captain Haiti Foundation aims to raise $300,000 to beautify Little Haiti, with 30% of the funds allocated to community cleanups, public art and planting greens dubbed the “Little Haiti Walls."

Two years ago, Martin secured the support of Cardano founder Charles Hoskinson and Miami District Commissioner Jeffrey Watson to utilize blockchain to help revitalize the Little Haiti community. At the time, Watson granted $200,000 to 40 local businesses for importing Haitian products, while Martin created the Little Haiti Coin on the Cardano blockchain to provide discounts for Haitian imports.

*Captain Haiti and Cardano founder Charles Hoskinson*. *Source:* *Charles Hoskinson via Twitter*

Known for his eccentric shield and cape outfit inspired by Captain America, Martin advocates against what he believes to be growing gentrification in his neighborhood that has led to unaffordable housing and emigration. In one letter of support for the initiative seen by Cointelegraph, he writes:

“I kindly request your support in addressing this issue and helping us to preserve the Little Haiti Wall project, which plays such a vital role in promoting cultural understanding and appreciation within our community. By doing so, we can ensure that the artistic and cultural heritage of Little Haiti is preserved for future generations to enjoy and learn from."

Lawsuit against FTX celebrity promoters gets backup from former exec

May 12, 2023 Coin Telegraph

Brady

Daniel Friedberg, the former top compliance chief for FTX and FTX US, has provided a declaration that could support the lawsuit.

A class action lawsuit against celebrities who allegedly promoted the now-bankrupt FTX has scored the cooperation of a former exchange executive — ex-compliance chief Daniel Friedberg.

A May 11 proposed amended complaint filed in a Florida District Court from the class action lawyers said Daniel Friedberg provided evidence that promotional activity for FTX originated from Florida.

Friedberg was the chief regulatory officer at FTX and the chief compliance officer of FTX US, the exchange's United States arm.

The declaration could potentially rebut a key defense made by some of the defendants who claimed the Miami court has no jurisdiction and the claims have no association with Florida.

In sworn testimony, Friedberg said FTX US’ vice president of business development, Avinash “Avi” Dabir was based in Miami and was in charge of brand ambassadors for FTX, including defendants in the case — which include former basketball player Shaquille O’Neal, comedian Larry David, retired NFL player Tom Brady and FTX founder Sam Bankman-Fried.

We couldn't keep it secret any longer! We're partnering with...the one...the only...@SHAQ! (a.k.a. Shaqtoshi) pic.twitter.com/V37UQ5wsXI
— FTX (@FTX_Official) June 1, 2022

He said Dabir operated from an FTX office in Miami “early in 2021.” The class action lawyers said this refutes the arguments made by the defendants in their motions to dismiss.

Some of the alleged promoters claimed that “no conspiracy could have been ‘engineered in Florida’ because FTX did not even plan to move to Miami until late September 2022” which was before they entered into the alleged promotional agreements.

The class action lawyers are using the new evidence to amend their lawsuit to try to address the jurisdictional claims by the suit's defendants.

The court will decide if the evidence is sufficient.

The suit was first filed in mid-November shortly after the collapse of the exchange. Other alleged celebrity promoters include Brady’s then-wife and model Gisele Bündchen, entrepreneur Kevin O’Leary, and basketball star Steph Curry along with his team the Golden State Warriors.

We’re proud to announce Tom Brady will serve as an FTX Ambassador, and Gisele as FTX’s Environmental & Social Initiatives Advisor.

“We have the chance to create something really special here.” says the Super Bowl Champion and entrepreneur @TomBrady https://t.co/yDLC1Q1KFG
— FTX (@FTX_Official) June 29, 2021

Friedberg was also named as a defendant in an amended complaint on Dec. 16.

The former compliance head has reportedly lent a hand to other legal proceedings against the exchange he used to work for.

Investigators with the New York District Attorney, the Justice Department, the Federal Bureau of Investigation (FBI) and the Securities and Exchange Commission (SEC) purportedly got details about FTX from Friedberg a few weeks after the exchange collapsed.

Hall of Flame: William Clemente III tips Bitcoin will hit six figures toward end of 2024

Miami