An 86-year-old former California attorney has just been sentenced guilty to fraud. But he won't be sentenced to jail due to his old age and current health conditions. Rather, he has been sentenced to five years of probation and a 14 million fine after admitting to committing commodity fraud in May.
David Kagel will be serving his probation in the hospice care at a senior facility in Las Vegas where he is currently at due to his ailing health. Under the situation that he leaves the hospice care, he would be required to wear a monitoring device.
According to government prosecutors, Kagel and his two accomplices lured victims into investing in a fraudulent crypto bot trading scheme with promises of high returns and no risks.
Over the 5 years of operation, Kagel and his accomplices promoted and solicited investments and obtained at least $15 million from victims under the guise of various cryptocurrency trading programs.
Kagel used the letterhead of his law firm to give the impression of legitimacy to the victims. Kagel promised his investors a 20-100% profit within the space of just 30 days. He also pretended that he had 1,000 bitcoin, worth $11 million to secure the investment.
In 2023, Kagel's law license was revoked by the California Supreme Court for failing to respond to disciplinary charges. At that time, he was suspected of misappropriating $25000 in client funds.
His law license has been previously suspended twice, once in 1997 and 2012.
Kagel's accomplices, David Saffron and Vincent Mazzotta, both denied any wrongdoing and are set for trial in April 2025.
A new HBO documentary suggests that the creator of Bitcoin, Satoshi Nakamoto, is likely Canadian software developer Peter Todd, disproving the Nick Szabo theory put forward by Musk.
MiyukiWell-known analysis agency QCP Capital said that if China stops its economic stimulus measures, Bitcoin will usher in capital reallocation and the cryptocurrency market will benefit from it.
AlexWall Street tycoon Schiff said the U.S. government is ready to sell 69,370 bitcoins and called on MicroStrategy to borrow another $4.3 billion to buy it.
EdmundNetizens have eliminated Len Sassaman and turned their attention tocomputer scientist Nick Szabo.
XingChiHBO’s documentary "Money Electric: The Bitcoin Mystery" explores the search for Bitcoin's creator, Satoshi Nakamoto, focusing on Peter Todd as a potential candidate. While the film presents compelling arguments, many in the crypto community remain skeptical, emphasizing that the identity of Satoshi is less important now as Bitcoin has evolved beyond its creator.
AnaisMoney Electric presents a new theory around Bitcoin’s creation, but fails to provide compelling evidence to unmask Satoshi Nakamoto, leaving the mystery unsolved.
WenJunThe latest trailer for HBO's documentary will reveal the true identity of Satoshi Nakamoto this week. Its producer admitted to confronting the real person in person and believed that Satoshi Nakamoto is still alive. According to betting market data, the market currently speculates that the most likely candidate is Nick Szabo, which coincides with Musk's early theory.
MiyukiThe U.S. Supreme Court has cleared the way for the sale of $4.4 billion worth of Bitcoin seized from the Silk Road marketplace, after dismissing a legal claim from Battle Born Investments. The U.S. government is expected to proceed with the sale, sparking political debate on how to manage these cryptocurrency holdings.
DanteNick Szabo has become the leading candidate to be Satoshi Nakamoto, the mysterious creator of Bitcoin, as his odds on the betting platform Polymarket rise to 28.3%. This shift follows producer Cullen Hoback's claim that he confronted the real Nakamoto, suggesting that the true creator is still alive, while former frontrunner Len Sassaman's odds have plummeted to 8.5%.
WeatherlyNilam Resources, Inc. enters a strategic partnership to acquire 24,800 Bitcoin, signaling a shift towards digital assets in the financial landscape.
AlexARK Invest's Cathie Wood offloads 1.6 million HOOD shares as Robinhood surges, focusing on Roblox and Coinbase.
MiyukiBlackRock's iShares Bitcoin Trust has quickly amassed Bitcoin, surpassing exchanges and corporate investors, signaling a major shift in institutional confidence and market dynamics.
WeiliangThe civil battle between Terraform Labs and the SEC proceeds without Do Kwon, with the trial focusing on fraud allegations.
AlexA Munchables developer returned $62.8 million in stolen Ether without a ransom after a hack, while ParaSwap recovered funds from a separate DeFi exploit.
AlexGiga Energy's innovative approach converts flared natural gas into electricity for Bitcoin mining, expanding operations globally while mitigating environmental impact.
WeiliangSolana integrates Circle's CCTP, enhancing interoperability for USDC swaps across various blockchains, including Ethereum, without affecting SOL's price.
MiyukiStakeStone, a leader in Omnichain liquidity, offers a decentralized Liquid Staking Token (LST) protocol, aiming to revolutionize staking with innovative solutions.
BrianDespite legal troubles, KuCoin's CEO asserts the exchange has sufficient reserves and separates user funds, unlike FTX. Market sentiment remains positive.
AlexThe Ethereum network has reached one million validators, staking 32 million Ether. Community concerns arise over potential security issues and decentralization.
Alex