Summary of Crypto King Aiden Pleterski

• Accused of misleading investors by promising investments in cryptocurrency and foreign exchange, raising $41.5 million
• Spent 38% of funds raised ($16 million) on personal expenses such as private jet rentals and luxury cars
• Kidnapped and tortured for three days while his captors demanded a ransom of $3 million

Details Behind the Crypto Scam

Crypto investor Aiden Pleterski, once praised as the “Crypto King” by his associates, is being accused of misleading investors into believing that he could offer returns from investing in cryptocurrency and foreign exchange. According to a bankruptcy trustee report filed earlier this year, Pleterski managed to raise an astonishing $41.5 million from these investors. However, bank details show that only a fraction of this money was invested ($670,000). Instead, it appears that around 38% ($16 million) was used for Pleterski’s own extravagant spending — including lavish vacations and high-end cars.

Kidnapping, Torture and Ransom

In December 2022, court documents reveal that Aiden Pleterski was kidnapped in the middle of the night by unknown assailants. During his three-day captivity he was subjected to torture and beatings while being driven around Southern Ontario. His father testified to the bankruptcy trustee that they received a ransom call demanding $3 million for his release — during which time Pleterski pleaded with them for his life. After three days he was eventually released by his captors without harm.

Impact on Investors

The bankruptcy filings state that only $25 million worth of creditors have come forward looking for repayment — suggesting those who had invested the other $16 million may be seeking alternative forms of justice beyond legal channels. In a statement given to the court regarding his failed investment scheme, Pleterski said: “I guess you could say greed took over…”

Conclusion

The case against Aiden Pleterksi is still ongoing but it serves as an important reminder to always do your own due diligence when investing — especially when dealing with large sums or risky assets like cryptocurrencies. It also highlights how cybercrime has become increasingly sophisticated over recent years with perpetrators using tactics such as kidnapping and ransom demands to attempt to cover their tracks or silence victims who might expose them publicly.

• UBS bought out Credit Suisse for $3.2 billion
• AT1 Credit Suisse bond holders will not be paid back
• Shareholders will receive $3 billion of the buyout price

Pre-Market Moves

UBS down 5%, Credit Suisse down 7% and First Republic down 33%. AT1 Credit Suisse bond holders are at a loss due to the buyout of the company by UBS.

International Resolution Principles and Rules

The international resolution principles and rules agreed upon after 2008 state that AT1 holders should be repaid before shareholders, however this did not occur with the UBS/Credit Suisse buyout as shareholders are receiving a large portion of the buyout price.

Impact on Bond Holders

As a result of the buyout, AT1 Credit Suisse bond holders will get nothing while shareholders will receive billions from the buyout price. This has had an immediate impact on pre-market moves with stocks such as UBS, Credit Suisse and First Republic dropping significantly.

Implications for Other Countries

The move by Swiss government to prioritize shareholders over bond holders has led to questions about whether other countries could follow in their footsteps. It remains to be seen whether this action will have any long term implications for global financial markets.

Analysis by James Van Straten

James Van Straten is a Research Analyst at CryptoSlate who is passionate about data, technology and identifying trends. He sees Bitcoin as one of the greatest inventions of the 21st century and believes that it could have major implications for global financial markets.

• The Pokémon Company International has recently posted a job listing for Corporate Development Principal to develop ‘brand new Pokémon experiences’ via ‘unique technologies.’
• Fans are concerned that this might lead the beloved franchise into the world of extreme price volatility and scams, as seen in recent high-profile cases such as FTX collapse.
• Nintendo analyst David Gibson mentioned the potential of Web 3 and NFTs during an investor call in February 2022.

Pokémon Company International’s Job Posting

The Pokémon Company International has recently posted a job listing for Corporate Development Principal to develop ‘brand new Pokémon experiences’ via ‘unique technologies.’ This requires sourcing and researching potential strategic partners, assessing technological trends, and designing and building a platform to house the project’s development. The successful candidate must have over 12 years of work experience, with a minimum of 7 years in corporate development or corporate venture capital, at a technology, gaming, media, or entertainment company.“Deep knowledge and understanding of Web 3, including blockchain technologies and NFTs, and/or metaverse.“

Fans‘ Concerns

Fans are concerned that this might lead the beloved franchise into the world of extreme price volatility and scams, as seen in recent high-profile cases such as FTX collapse. @pory_leeks who reports on Nintendo activities commented saying „Oh no please no“ which was mirrored by other commenters on social media voicing expectations that this would lead to a drop in interest killing the franchise.

Potential Benefits

Nintendo analyst David Gibson mentioned the potential of Web 3 and NFTs during an investor call in February 2022 saying „we do have interest in this area we feel the potential in this area but we wonder what joy we can provide and this is difficult to define right now“. With the recent Corporate Development Principal job listing it seems like they’re committed to exploring how they can provide that joy he mentioned.

Adoption Challenges

However there are many challenges associated with adopting Web3 technology due its association with extreme price volatility and scams which could damage their long running brand name if not properly managed. There is also uncertainty around whether fans will accept these changes or if it will kill their love for Pokemon altogether.

Conclusion

It remains to be seen whether Pokemon can successfully implement their plans for developing a metaverse experience using Web3 technology while still appeasing fans concerns about potential risks associated with blockchain adoption.

• Yuga Labs’ Bitcoin (BTC) NFT TwelveFold has a top bid of 2 BTC, with the lowest being 0.111222 BTC.
• The auction model has drawn criticism from some crypto community members.
• Bitcoin Ordinals creator Casey Rodarmor said Yuga Labs‘ method was a „degenerate bullshit.“

Yuga Labs‘ Bitcoin NFTs Top Bid

Yuga Labs’ TwelveFold Bitcoin (BTC) NFT has 288 bids led by a 2 BTC bid (around $50,000), and the lowest being 0.111222 BTC ($250).

Criticism for Auction Model

The collection has drawn heavy criticism from some crypto community members over its „stone age“ auction model. Participants are asked to deposit their BTC into an address provided by Yuga Labs and those made with third parties like Coinbase would be unable to receive refunds.

Warning from Bitcoin Ordinals Creator

Bitcoin Ordinals NFT creator Casey Rodarmor said Yuga Labs’ method was a „degenerate bullshit“ and threatened to wash his hands off if it repeated the same thing. He added that such actions prove that “once a shitcoiner always a shitcoiner“. Several other crypto community members also said there are more efficient ways to conduct NFT auctions on the Bitcoin network.

Malicious Players Warning

A community member warned that malicious players could copy this model as while Yuga Lab would return unsuccessful bids, scammers wouldn’t do so.

Better Methods Suggested

The crypto community suggested there are better trustless methods available that could have been used instead of the current auction approach adopted by Yuga Lab.

• NEM posted an 86% upswing on the daily candle to hit a price of $0.0772 — a level not seen since May 2022.
• 24-hour volume data currently comes in at $321.42 million — marking an over 3,000% increase over the previous day.
• No new fundamental developments have been noted and the company’s Twitter account has been inactive since Christmas Eve.

NEM Jumps to 42 Week High

NEM experienced a dramatic surge in its token price recently, hitting a 42 week high of $0.0772 off the back of spiking volume. This marks an 86% increase compared to the previous day and is the highest point seen since May 2022.

Surge in Volume

The surge was accompanied by a 3,000% increase in 24-hour trading volume, currently standing at $321.42 million – making it one of the most active days for NEM this year. Despite some initial bearish pressure pulling prices back down to $0.0694, most of these gains remain intact at present time.

YTD Performance

Since January this year, NEM’s performance has been outstanding with 171% YTD gains – far surpassing market leader Bitcoin which only managed 43%. This puts NEM significantly higher than its all-time peak value of $1.87 set back in 2018 when it was ranking seventh in terms of market cap rankings (currently 82nd).

Project Inactivity

It appears that no new fundamental developments were made prior to this surge as there has been no activity from NEM’s Twitter account since Christmas Eve last year or even July 15th, 2022 before that when comments were disabled on their post at that time.

Conclusion

This sudden rise in token prices is surprising given its lack of activity and general fading into obscurity throughout 2021 so far – but with volumes increasing and prices holding steady it may suggest that investors are willing to bet on the success of this project once again despite recent uncertainty surrounding it overall outlook going forward.

• Stacks Network (STX) is a Bitcoin layer2 network with a separate ledger to store data outside of Bitcoin L1. In the last 24 hours, STX has risen by around 50%.
• STX is the first token offering qualified by the U.S. SEC and incentivizes miners and participants in the Stacks bitcoin system.
• There are already over 650K Bitcoin NFTs on Stacks L2, with total assets locked within the smart contract crossing $250 million.

Stacks Network: A Bitcoin Layer 2 Network

Stacks Network (STX) is a Bitcoin layer 2 network with a separate ledger to store data outside of Bitcoin L1 designed for developers to build dApps similar to those on other smart contract-enabled blockchains like Ethereum and Solana. STX is also the first token offering qualified by the U.S. SEC which incentivizes miners and participants in the Stacks bitcoin system.

Price Surge

The surge in price follows renewed interest in non-fungible tokens (NFTs) on Bitcoin’s network, with over 100,000 inscriptions made on the Ordinal Protocol. The past 24 hours have seen STX rise by around 50% to $0.58533, according to CryptoSlate’s data.

Adoption of NFTs

The active community of artists and creators on Stacks L2 have minted over 650K Bitcoin NFTs that are auto hashed to Bitcoin L1 and secured by it in a scalable way. The total value of assets locked within this smart contract has already crossed $250 million, with 2200 BTC rewards given out to participants so far as well.

DeFi Potential for BTC

Co-founder Muneeb Ali believes we are still in early days when it comes to decentralized finance for Bitcoin – whatever can be built on Ethereum or Solana can also be built on Stacks L2S – making it an exciting prospect for further growth and development for DeFi applications using BTC as its base asset .

Conclusion

Stacks Network provides an exciting opportunity for developers looking to build projects utilizing BTC as its base asset, while also providing unique incentives such as being the first token offering qualified by the US SEC along with rewarding miners and participants through their native token STX – allowing them access into a growing industry filled with potential opportunities and possibilities

• Stablecoin withdrawals have reached almost $500 million in the wake of the BUSD news
• Year to date, roughly $2 billion of stablecoins have been withdrawn from exchanges
• On-chain data suggests that the bear market might be coming to an end

Stablecoin Withdrawals Reach Almost $500M

Recent news regarding the SEC vs. Paxos and Paxos halting BUSD minting has caused a surge in stablecoin withdrawals. Over $500 million worth of stablecoins have been withdrawn since Feb. 12, leaving roughly $35.5 billion on exchanges. This marks a decrease of over $2 billion year to date as more people are moving their funds away from exchanges.

On-Chain Data Suggests Bear Market Might End

The recent outflows of stablecoins were initially reported as being directed towards Bitcoin, though these redemptions have slowed down significantly since then. CryptoSlate’s latest market report dives into Bitcoin on-chain data suggesting that the bear market could be close to ending; however, further investigation is needed for a more accurate assessment.

What is STBL?

STBL is a virtual asset that aggregates the data of all ERC20 stablecoins supported on Glassnode. This metric sums up all exchange balances across different kinds of stablecoins such as BUSD, GUSD, DAI, USDP and EURS among others.

Disclaimers

CryptoSlate does not provide any investment advice and readers should do their own due diligence before taking any action related to content within this article. Buying and trading cryptocurrencies should be considered as high-risk activities with potential financial losses involved so necessary precautions need to be taken beforehand.

Conclusion

As we approach mid-February 2021, it appears that more people are moving their funds away from exchanges in favor of other forms of investments such as Bitcoin or other cryptocurrencies. The exact reasons behind this shift remain unclear but it’s likely due to both macroeconomic factors and rumors regarding upcoming regulation changes pertaining to certain types of digital assets like stablecoins or security tokens (STOs).

• The U.K. Financial Conduct Authority (FCA) has warned crypto companies to comply with its new financial promotions regime or face up to two years imprisonment.
• The FCA’s crypto promotions regulations will be similar to those guiding other high-risk investments and require firms to use specific risk warnings and positive frictions like a 24-hour cooling-off period.
• The U.K. government is continuing with plans to turn the country into a crypto hub by extending regulations to cover crypto exchange operations.

U.K.’s FCA Warn Crypto Companies

The U.K.’s Financial Conduct Authority (FCA) has issued a warning for crypto companies in the country, telling them they must comply with the new financial promotions regime or face up to two years imprisonment.

Crypto Promotions Regulations

The FCA’s crypto promotions regulations will be similar to those guiding other high-risk investments, requiring firms to use specific risk warnings and positive frictions such as a 24-hour cooling-off period that allows investors to cancel their investments.

Advertising Standards Authority Action

In addition, the U.K.’s Advertising Standards Authority (ASA) brought several enforcement actions against businesses with misleading ads in 2022, which shows the government is working hard to clamp down on misleading cryptocurrency advertising in the region as well as protect consumers from fraudsters looking for vulnerable people who may not know better about investing in cryptocurrencies..

U.K.’s Government Crypto Hub Plans

The U.K.’s government is also continuing with plans of turning the country into a global cryptocurrency hub by extending regulations that will cover crypto exchange operations in order to provide greater protection for consumers who want access and invest in these digital assets safely and securely without being taken advantage of by criminals or scammers looking for easy targets online..

Conclusion

Overall, it is clear that both the FCA and ASA are taking steps towards creating a safer environment for users interested in investing in cryptocurrencies within the United Kingdom by implementing various regulations and providing guidance around best practices when it comes handling digital assets and promoting them correctly within their region so users can have peace of mind knowing their funds are secure from harm’s way when engaging in cryptocurrency related activities online or offline within this region of the world .

• Sorare and the English Premier League have signed a multi-year deal to offer NFTs of league player cards.
• The Paris-based startup will allow its 3 million users to play its fantasy football game with Premier League-specific player cards.
• The news of the partnership between an NFT start-up and one of the world’s biggest football leagues comes amidst a precipitous decline in the overall NFT market since its peak in 2021.

Sorare, an NFT platform, and the English Premier League recently entered a multi-year deal for a license to offer NFTs of league player cards. This agreement marks the latest in a string of other deals that Sorare has inked in the sports world, including with both Major League Baseball and the National Basketball Association.

The Paris-based startup will allow its 3 million users to play its fantasy football game with Premier League-specific player cards, allowing fans to buy, sell and trade virtual cards of their favorite players as part of the deal, which was initially reported to be valued at £30 million.

In 2022, total card sales on the Sorare platform amounted to $500 million, nearly doubling its 2021 total of $270 million, according to data compiled by CryptoSlam. This data also reveals that Sorare has risen to 8th place overall, with total sales amounting to $891,789 between Dec. 31-Jan. 30, a 45% increase from the month before.

The news of the partnership between an NFT start-up and one of the world’s biggest football leagues comes amidst a precipitous decline in the overall NFT market since its peak in 2021, with overall sales of digital assets plunging by more than 90%. This is why this partnership and the resulting NFTs of league player cards are so important. By creating a link between the Premier League and the NFT world, it allows for fans to be more actively involved in the success of their favorite teams.

Not only that, but it also provides a way for the league to tap into the growing NFT market and generate some additional income. It also gives the league the opportunity to get creative with their NFTs and create cards that are exclusive to them, as well as those that are available to all users.

Ultimately, this deal could prove to be a win-win situation for both Sorare and the English Premier League. It could open up a new revenue stream for the league while also providing a platform for Sorare to reach a wider audience.

• Europol has arrested 5 of Bitzlato’s senior executives, including the CEO, financial director, and marketing director in Spain.
• In course of the house search, Europol said it seized about €18 million ($19.5 million) worth of cryptocurrency and froze over 100 crypto accounts holding assets worth about €50 million ($54.3 million).
• Further analysis by Europol disclosed that about 46% of the assets exchanged through Bitzlato worth roughly €1 billion ($1.08 billion) had links to criminal activities.

On January 23, 2023, the European Union police agency (Europol) announced that they had arrested five senior executives of the sanctioned Bitzlato exchange. This arrest was made following eight house searches across Spain, Cyprus, Portugal, and the United States. According to the report, the arrested individuals included the CEO, financial director, and marketing director of Bitzlato.

The searches resulted in the seizure of about €18 million ($19.5 million) worth of cryptocurrency and the freezing of over 100 crypto accounts holding assets worth about €50 million ($54.3 million). Furthermore, Europol also discovered that Bitzlato had facilitated the laundering of various crypto-assets, including 119 Bitcoin worth €2.1 billion.

In addition to this, Europol’s analysis of the assets exchanged through Bitzlato revealed that approximately 46% of them, worth roughly €1 billion ($1.08 billion), had links to criminal activities. On January 18, Bitzlato’s founder Anatoly Legkodymov was arrested by US authorities for running a money-transmitting business, and leading crypto exchange Binance was named as a top three recipient of Bitzlato’s illegal funds.

Europol’s investigation into Bitzlato is an example of the growing prevalence of crypto-related crime. It is likely that in the future, more exchanges will come under scrutiny, and more arrests will be made as law enforcement agencies become better equipped to tackle these kinds of crimes.