- The SEC is suing Geosyn Mining and its co-founders for embezzlement and deception of investors.
- Bitbot revolutionizes crypto trading with a non-custodial Telegram bot.
- The $BITBOT presale is approaching $3 million and the token is poised to rise from the current $0.0171 to $0.018.
The Securities and Exchange Commission (SEC) has filed charges against Bitcoin miner Geosyn Mining, LLC and its co-founders, Caleb Joseph Ward and Jeremy George McNutt, for allegedly defrauding investors of $5.6 million. dollars.
In the meantime, Bitbota non-custodial Telegram trading bot, is about to hit $3 million in presale.
Let us examine these developments in detail.
SEC Charges Against Geosyn Mining and Its Co-Founders
According to SEC ComplaintFiled in federal court in Texas, Geosyn raised approximately $5.6 million from more than 60 investors between November 2021 and December 2022.
According to the US SEC, the company allegedly misled investors by falsely claiming to purchase, maintain and operate crypto mining machines, promising to distribute mined assets, such as Bitcoin, to investors for a fee. The SEC alleges that Geosyn made misrepresentations about its contracts with electricity providers, failed to disclose that it never purchased mining machines, and failed to provide promised services.
Additionally, Ward and McNutt are accused of embezzling approximately $1.2 million for their personal use.
The SEC is seeking permanent injunctions, disgorgement with prejudgment interest, and civil penalties against Ward and McNutt.
Bitbot: a Telegram bot that revolutionizes crypto trading
As the US SEC goes after Geosyn Mining LLC, Bitbot, an innovative, non-custodial Telegram trading bot that aims to democratize crypto trading, is making waves with its token presale.
In addition to its token presale, Bitbot offers users institutional-grade tools in a secure, easy-to-use package, allowing them to trade directly from Telegram while maintaining control of their assets. It integrates with self-custodial wallets, ensuring users maintain full control over their keys and assets.
The platform uses KnightSafe, a decentralized security system, to protect business activities. It provides a range of trading tools, including automated sniping, limit orders, copy trading and yield optimization, accessible to users of all levels of trading experience.
Bitbot presale nears $3 million
In recent developments, Bitbot Presale is quickly approaching the $3 million mark. The presale, which offers investors the opportunity to acquire $BITBOT tokens, Bitbot’s native utility coin, has generated considerable interest from the crypto community, raising a total of $2,900,178 at the time of writing of this article.
Investors can buy the $BITBOT token at the current price of $0.0171 per token before the price increases to $0.018 in the next step.
Investors can participate in…
