Cointime

Download App
iOS & Android

SEC Accuses Chinese Businessman with Ties to Donald Trump Advisor of Orchestrating $500 Million Crypto Fraud – What's Going On?

The charges from the SEC relate to the sale of what is referred to as “unregistered and fraudulent offerings,” which raised more than $850 million for Guo, according to a press release from Wednesday.

Miles Guo, who is also known by his Chinese name Guo Wengui and sometimes as Miles Kwok, is a New York-based businessman closely related with Donald Trump’s former advisor Steve Bannon. The two have built up a substantial online presence together, and often appear in online videos where they criticize the Chinese Communist Party and its leadership.

Comments

All Comments

Recommended for you

  • Trump Is Winning And We’re Closer Than Ever to Freeing Ross: NIKOLAUS

    According to the world's largest prediction market, Polymarket, the pro-Bitcoin candidate for the upcoming presidential election, Donald Trump has taken a 13% lead over Kamala Harris.
  • Cointime August 11st News Express

    1.Fed Governor Bowman: Be cautious about rate cuts
  • Cointime August 10th News Express

    1. The U.S. Internal Revenue Service has released a new draft of the crypto tax form, which no longer requires filling in wallet addresses and transaction IDs
  • The value of Trump's cryptocurrency holdings has plummeted by about 90% from its peak in early June, currently falling to $3.25 million

    According to Arkham data monitoring, the value of cryptocurrency assets held by former US President Donald Trump has dropped significantly and is currently at $3,252,930.24, a decrease of about 90% from the high point of over $31 million in early June. The current holdings of this address mainly include:
  • Cointime August 4 News Express

    1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
  • Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

    According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.
  • Cointime February 24 News Express

    1. Paypal to launch global hackathon with 40,000 PYUSD prizes
  • Trump pledges to fire SEC Chair Gary Gensler ‘on day one’ if reelected

    The Republican candidate laid out a plan for crypto policies should he win in November against prospective Democratic presidential nominee Kamala Harris.
  • Trump team files complaint over Harris inheriting $96 million in Biden campaign funds

    According to reports from foreign media, the Trump campaign team has filed a complaint with the Federal Election Commission, claiming that Biden's transfer of $96 million in campaign funds to Harris is illegal. David Warrington, a lawyer for the Trump campaign team, said that this was a "shameless money-grabbing act" and would constitute the largest excessive donation and most serious violation in the history of the Federal Election Law. Shortly after Biden withdrew from the election and appointed Harris as his preferred successor, she took over Biden's campaign committee's bank account. Steve Roberts, a lawyer who represented Republican candidates, said that the argument against the transfer was a "wishful thinking" of his Republican colleagues. The Harris campaign team said that this complaint would not affect its fundraising or spending.
  • Donald Trump Plans to Release Fourth NFT Collection, Embraces Crypto Industry

    Former US President Donald Trump is reportedly planning to release a fourth NFT collection, as he continues to embrace the crypto industry. In a recent interview with Bloomberg Businessweek, Trump stated that his previous NFT collections were "very successful" and sold out in a day. He also revealed that he plans to release another collection, as his supporters are demanding it. Trump's campaign has also started accepting crypto donations, and he has been vocal about the importance of the US not falling behind China in the crypto industry.