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Cryptocurrency Founder Arrested and Charged with Two Counts of Evasion and Fraud



Oyster founder Bruno Block of oyster pearl crypto

According to an indictment filed in the US Southern District Court of New York, the Internal Revenue Service (IRS) has charged Amir Bruno Elmaani with two counts of tax evasion. Elmaani, otherwise known as Bruno Block, is the founder of the cryptocurrency “Oyster Pearl.”

Elmaani was arrested Wednesday morning in Martinsburg, West Virginia.

Elmaani made millions from the sale of a new cryptocurrency but evaded reporting that income to the IRS. He is guilty of filing a false tax return, operating his business and owning assets through pseudonyms and shell companies and obtaining income through nominees.

Rather than report the return of the income he had earned to the IRS, Elmaani allegedly falsified his 2017 tax return and pocketed the millions instead. He also failed to file his 2018 returns. 

As it turns out, Elmaani was funnelling the proceeds of his alleged cryptocurrency scheme through a shell company that hid the true nature of his financial interests,” said William Sweeney Jr., the FBI’s assistant director.

According to the indictment, he used $10 million to buy multiple yachts in which he stored multiple gold bars, real estate and home renovations.

Elmaani could be facing up to 10 years in federal prison as the maximum penalty of a criminal charge of tax evasion carries a maximum of five years per count.

The Securities and Exchange Commission (SEC) filed a separate charge against Elmaani. SEC is charging him with conducting an illegal securities offering of PRL tokens and profiting from “minting millions of unauthorized tokens for himself at no cost and selling them into the secondary market, thereby causing the value of others’ tokens to plummet.”

The Securities and Exchange Commission (SEC) said, “Elmaani made approximately $570,000 in illicit gains through the minting and sale of Pearl tokens and, as a result of his sales, the price of Pearl tokens fell by nearly 65%, resulting in significant losses for investors.” 

FBI Assistant Director William F. Sweeney Jr. said: “Taking advantage of the ever-so-popular cryptocurrency market, Elmaani allegedly capitalized on the investments of those who purchased virtual currency through Oyster Pearl, which he founded. As it turns out, Elmaani was funnelling the proceeds of his alleged cryptocurrency scheme through a shell company that hid the true nature of his financial interests, ultimately never paying taxes on his earnings. With minimal reported income in 2018, he still managed to spend over $10 million for the purchase of yachts, but after today’s arrest, he won’t be sailing anywhere anytime soon.”

Operating under his pseudonym Bruno Brock in October 2018, Elmaani exploited a smart contract on the Ethereum blockchain to create new tokens to be sold at a low market price before creating new ones for himself for free.

As per the indictment, Elmaani at the time said he was retaining millions of PRL following his “founders share” and in the process claimed he had to move his PRL tokens to a different wallet to avoid double taxation.

Elmaani was able to convert his newly minted PRL tokens to other cryptocurrencies using a “foreign-based exchange” by inflating the fixed supply of PRL through his access to the protocol.

Elmaani made approximately $570,000 in illicit gains. After discovering the alleged foul play, the exchange ceased all trading for PRL which left investors holding bags of essentially worthless tokens.

Concealing the origin and destination of the cryptocurrencies by the use of a coin mixer, Elmaani transferred funds to family members and friends after which he transferred them to his own accounts.

“The underlying scheme was old-fashioned fraud and tax evasion,” said Audrey Strauss, acting Manhattan U.S. attorney. “Thanks to the FBI and IRS Criminal Investigation Division, Elmaani is now in custody and facing federal prosecution.” said acting Manhattan U.S. Attorney Audrey Strauss.


Popeyes Introduces New Fried Fish Sandwich: The Cajun Flounder Sandwich



Popeyes Introduces New Fried Fish Sandwich; The Cajun Flounder Sandwich

Popeyes served the world their fried chicken sandwich, and it became a delicious success. Now, this time the restaurant is coming with a new recipe, and it is fishy. Well, it involves fish. 

This week, the multinational chain of fast-food restaurants debuted their first fried fish sandwich. If it turns out to be as successful as their fried chicken sandwich, they might permanently consider adding it to their menu. 

The new sandwich recipe, the Cajun Flounder Sandwich, will cost four dollars and fifty cents. In a recent reveal, the company said,

The fried filet is served atop the same buttery toasted brioche bun with barrel cured pickles that fans know and love from the Chicken Sandwich, along with Popeyes legacy tartar sauce.”

Popeyes is also offering a 15-dollar worth of insurance on Launch day. This means that if you taste their new recipe during their launch and it doesn’t tickle your fancy, you can replace it with a free Chicken sandwich. 

The company reassures its customers that their fish sourcing methods are up to NOAA standards, and they have plenty of fish, so running out of the species shouldn’t be an issue. 

It is important to note that since the onset of the coronavirus pandemic, fish sales have gone up. Many are owing increase to the fact that people became very fond of trying home recipes.

Let us know what you think about Popeyes’ new recipe. Do you like it? Let us know below. 

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Ethereum Price Predictions for 2021



Ethereum Price Predictions for 2021

Ethereum, first introduced by Vitalik Buterin, is a blockchain project that hosts several DeFi tokens. Due to its programmable nature, on top of using it as decentralized digital currency, it could be used for financial services, games, and apps built on the platform.

Ether is the world’s second-largest digital currency by market value. As of February 02, 2021, 07:11GMT, Ethereum had risen by more than 5.7% at $1,400. It is one of the biggest DeFi projects with over $1.8 billion in worth.

Etheruem prices are soaring due to the strong demand for decentralized finance projects. This makes investors believe it’s a viable investment.

Why is Ethereum Going Up?

Through “smart contracts”, DeFi uses Ethereum as an operating system for loans and day-to-day transactions. Smart contracts are automated financial programs that allow investors to earn interest in crypto holdings.

Ethereum Price Predictions for 2021

Etheruem will shift mining systems from “proof of work” to “proof of stake”. This move will finance validators depending on the number of coins they own rather than the speed at which calculating blocks operate.

Sharding”, a computer technique of breaking work to smaller parallel pieces will help increase speeds to over 5,000- fold. The process is reliable fast and is an anonymous transaction system.

Proponents speculate Ethereum would make transaction fees more predictable. This would encourage its use and reduce new supply proving positive for Ethereum.

Ethereum Price Predictions for 2021

The world of cryptocurrencies endures liabilities from advancements with grace. Now, attention may be shifting from Bitcoin to Ethereum as more investors can gain access to digital assets via Ethereum. The index shows that the node count is the third major on-chain metric where Ethereum has bypassed Bitcoin.

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Twitter CFO contemplates adding Bitcoin to the media giants balance sheet



Twitter CFO contemplates adding Bitcoin to the media giants balance sheet

A new dawn has come for the world’s most popular cryptocurrency, Bitcoin. The ripple effect since Teslas’ Elon Musk Invested $1.5 Billion of the companies assets on Bitcoin which has since then seen mega positive and a touch of legitimacy in the crypto world.

Barely a week after, Twitters’ CFO, Ned Segal is considering adding Bitcoin to its company reserves. This involves considerations of how it may pay employees, vendors and complete digital transactions using the wide sort after cryptocurrency.

“We’ve done a lot of the upfront thinking to consider how we might pay employees should they ask to be paid in Bitcoin, how to pay a vendor if they asked to be paid in BTC and whether we need to have Bitcoin on our balance sheet” Ned Segal, CFO Twitter told CNBC.

This however does not come as a shock considering how Twitter CEO, Jack Dorsey is an amid advocate of Bitcoin. He has bought and sold services for the cryptocurrency at Square. A company he also owns. Although no changes have been actualized yet, this publication has reinforced the viability of Bitcoin.

In recent months, major firms such as MicroStrategy have shown particular interest in Bitcoin. They consider Bitcoin a hedge against inflation and devaluation n in the U.S dollar. Twitter would follow Teslas’ move and start accepting Bitcoin as payment.

Bitcoin has since skyrocket hitting an all-time high of $48,000 earlier this week. With Twitter declaration who knows the hights, it could soar. We might be on the edge of the birth of a new legal decentralized tender.

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What Happens After the Last Bitcoin Is Mined?- 21 Million Mark



What Happens After the Last Bitcoin Is Mined?

The knowledge needed to understand cryptocurrencies and how they will work in the future may be complicated, but it doesn’t require you to be a rocket scientist.

According to its source code, Bitcoin was created so that only 21 million Bitcoins will ever exist.

After reaching 21 million units, the creators will breathe a sigh of relief as they take time off their computers. There will be no more mining Bitcoins after this mark is reached.

So what happens after the last Bitcoin has been mined? What will the fate of Bitcoin be? To get the answers, you need to understand how Bitcoins work. Let’s jump straight into it!

How Bitcoin Works

Bitcoin supply was initially created such that it won’t exceed 21 million. The sad news is that 18.3 million Bitcoins have already been mined, leaving less than 3 million left.

Once every four years, the mined Bitcoin is reduced by half, a process known as halving. The former block production allowed miners to get 5 Bitcoins every 10 minutes, which has increased to 6.25 Bitcoins thanks to the new block production.

In 4 years, halving will occur, reducing the globally mined BTC, and the process will keep happening until the 21 million BTCs are released into the market.

So what will the fate of Bitcoin be by then?

What Will Happen to Bitcoin after Mining?

The cryptocurrency creators stated that the mining would end in the year 2140, even though currently 18.3 million Bitcoins have already been mined out of the limited 21 million.

After mining stops, there will be other ways of getting Bitcoins, like through the transactional fees. The transactional costs are determined by the bitcoin’s current price and the number of transactions taking place. The higher the price and the more the transactions, the better the transactional fees.

Miners will also be eligible for small rewards that they will be receiving from the small portions of the last Bitcoins to be mined. With Bitcoin taking root in recent times in ways that the creators are proud of, they may unveil new features.

They may include new protocols, methods of recording and processing transactions, and other factors impacting mining.

When it comes to the uses of Bitcoin, it will be a real frequency used in trading as a means of payment by people. So far, businesses allow their customers to pay them in the form of bitcoins, something that did not exist a decade ago. The trend is not going to stop, given the ever-increasing number of cryptocurrencies.

Final Word

The last Bitcoin to be mined is expected to be mined in 2140! That is over 100 years from now. With a limited supply of Bitcoins that is about to be achieved, it makes us wonder what happens to the current Bitcoin miners.

Satoshi may have to change some of the protocols to keep the currency afloat, but do you think he should change it?

Well, whether you are a miner or not, we would like to hear your take.

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The 10 Most Important Cryptocurrencies Other Than Bitcoin



A cryptocurrency is a currency that take the form of tokens or coins and exist on a distributed and centralized ledger. Approaches to evaluate tokens other than Bitcoin-considered the pioneer in the Crypto world are ongoing. 

Other Cryptocurrency Digital Tokens 

1. Ethereum

cmc tCME Group To Launch Ethereum Futures Producto launch ethereum products Crypto

Ethereum is a decentralized, global platform for money and applications used to write codes that control money and build applications.

2. Litecoin


Litecoin was an early Bitcoin spinoff launched in October 2011. Litecoin produce a larger number of coins than Bitcoin.

3. Cardano


Cardano is an open-source project that aims to run public blockchain platforms for smart contracts. Its market capitalization is $9.8 billion with one ADA trading for $0.31

4. Polkadot 


A cryptocurrency aimed at delivering interoperability between other blockchains. Its designed to allow connections between permissioned and permissionless blockchains.

5. Bitcoin Cash


While Bitcoin has a limit on the size of the blockchain: one megabyte (MB). BCH offers a block size of 8 megabytes.

6. Steller


Designed to provide enterprise solutions through connecting financial institutions to facilitate large transactions. Such transactions take more days, cost a good amount of money, and have too many intermediaries.

7. Chainlink 


A decentralized oracle network bridges the gap between smart contracts.

8. Binance Coin


Initially, an ERC-20 token, which operated on the Ethereum blockchain, Binance coin is a utility cryptocurrency that runs as a payment method for fees associated with trading on the Binance Exchange.

9. Dogecoin


Never thought that we would ever call any currency a joke-coin but yes, we have a joke-coin currency.  Its prices surged in recent trading sessions and recent events have made its price rise even higher. The cryptocurrency is gaining ground with businesses accepting it as means of paying for their goods and services.

10. Monero


A secure private and untraceable currency developed through community-driven donations.

In Conclusion

Bitcoin continues to be the lead cryptocurrency in terms of user base, market capitalization, and popularity. However, some altcoins are being endorsed for features like the ability to handle more transactions faster.

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