- The SEC sued Geosyn Mining and its co-founders for misappropriation of funds and misleading investors.
- Bitbot is a non-custodial Telegram bot that has revolutionized cryptocurrency trading.
- The $BITBOT presale is close to reaching the $3 million presale and the token is currently poised to rise from $0.0171 to $0.018.
The Securities and Exchange Commission (SEC) has charged Bitcoin miner Geosyn Mining, LLC and its co-founders Caleb Joseph Ward and Jeremy George McNutt with defrauding investors of $5.6 million.
Meanwhile, Bitbot, a non-custodial Telegram trading bot, is close to reaching $3 million in pre-sales.
Let’s take a closer look at these developments.
SEC indictment against Geosyn Mining and its co-founders
Geosyn raised approximately $5.6 million from more than 60 investors between November 2021 and December 2022, according to the SEC’s complaint filed in federal court in Texas.
According to the U.S. SEC, the company is accused of misleading investors by falsely claiming to purchase, maintain, and operate cryptocurrency mining machines and promising to distribute mined assets, such as Bitcoin, to investors for a fee. The SEC alleges that Geosyn made false claims about its contracts with power providers, failed to disclose that it had never purchased some of the miners, and failed to provide services as promised.
Furthermore, Ward and McNutt were accused of misappropriating approximately $1.2 million for personal use.
The SEC seeks permanent injunctions, recovery of prejudgment profits, and civil penalties against Ward and McNutt.
Bitbot: The Telegram bot that revolutionized cryptocurrency trading
While the U.S. SEC pursues Geosyn Mining LLC, Bitbot, an innovative non-custodial Telegram trading bot that aims to democratize cryptocurrency trading, is making waves with its token presale.
In addition to the token pre-sale, Bitbot provides users with institutional-grade tools in a secure and easy-to-use package, allowing them to trade directly on Telegram while maintaining control over their assets. Integration with self-managed wallets ensures users have complete control over their keys and assets.
The platform uses KnightSafe, a decentralized security system to protect trading activities. It offers a variety of trading tools, including automated sniping, limit orders, copy trading and return optimization, accessible to users of all trading experience levels.
Bitbot presales approach $3 million.
In recent developments, Bitbot’s presale value is quickly approaching $3 million. The presale, which offers investors the opportunity to win $BITBOT tokens, Bitbot’s native utility coin, has garnered significant interest from the cryptocurrency community and has raised a total of $2,900,178 as of this writing.
Investors can purchase $BITBOT tokens at the current price of $0.0171 per token before the price increases to $0.018 in the next phase.
Investors can participate in the pre-sale by importing or creating a smart contract wallet directly through Telegram, and at the end of the pre-sale period, investors can claim $BITBOT tokens through the Bitbot official website.
$BITBOT token holders will enjoy benefits including revenue sharing, exclusive pre-sale access, unique perks, and a say in Bitbot’s strategic direction through governance.
conclusion
The SEC’s legal action against Geosyn Mining highlights the importance of regulatory compliance in the cryptocurrency industry, while Bitbot’s pre-sale success highlights the growing demand for innovative trading solutions in the cryptocurrency market.
As Bitbot continues to revolutionize cryptocurrency trading, investors are eagerly anticipating the platform’s future development and expansion.