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PGI CEO Sentenced to 20 Years in Prison for $200 Million Bitcoin Ponzi Scheme

2 hours ago

On February 13, the U.S. Department of Justice (DOJ) announced a landmark case: Ramil Ventura Palafox, CEO of Praetorian Group International (PGI), was sentenced to 20 years in prison for operating a $200 million Bitcoin Ponzi scheme. Palafox, 61, a dual U.S.-Philippine citizen, served as PGI’s chairman and CEO. He was convicted of wire fraud and money laundering for defrauding more than 90,000 investors worldwide. The scheme ran from December 2019 to October 2021: Palafox falsely claimed PGI traded Bitcoin, promising daily returns of 0.5% to 3%. But PGI’s actual Bitcoin trading volume was far too low to deliver those returns—confirming it was a classic Ponzi scheme. Global investors poured over $201 million into PGI: $30.295289 million in fiat currency and 8,198 Bitcoins (valued at $171.498528 million). Total investor losses topped at least $62.692007 million.
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Coinbase's Q4 2021 Bitcoin Holdings Increase by $39 Million

On February 13, Coinbase disclosed in its 8-K filing with the U.S. Securities and Exchange Commission (SEC) that it increased its corporate bitcoin holdings by $39 million through weekly purchases in the fourth quarter of last year.

5 minutes ago

Ark Invest Increased Holdings in Robinhood, BitMine, and Bullish Yesterday

On February 13, the Ark Invest Tracker showed Cathie Wood’s Ark Invest added to its positions yesterday (Feb 12) across three stocks: - 174,677 shares of Robinhood (~$12.42 million) - 212,314 shares of BitMine (~$4.19 million) - 74,323 shares of Bullish (~$2.36 million) This version uses concise, headline-friendly phrasing typical of U.S. financial quick updates—with clear dates, bullet points for readability, and "~" (a common shorthand for "approximately") to align with casual professional communication.

5 minutes ago

"Whale Adds to Long Position, Now Holds a Total of 105,000 ETH in Longs"

**February 13th** — On-chain analyst Ai Auntie (@ai_9684xtpa) notes that as ETH dipped below $2000 once more, the whale holding a cumulative 105,000 ETH long position added another 3,000 ETH to its position, with an average entry price of $1919. Across two addresses, the whale holds 105,000 ETH valued at $204 million, posting an overall unrealized loss of $10.229 million. Breakdown of the addresses: - 0xa5B…01D41: 60,000 ETH ($116 million), entry price $2048.9, unrealized loss $6.36 million - 0x6C8…D84F6: 45,000 ETH ($87.34 million), entry price $2029.38, unrealized loss $3.869 million

5 minutes ago

JPMorgan Reaffirms Bitcoin's Long-Term Target Price of $266,000

On February 13, a JPMorgan Chase analyst noted Bitcoin’s long-term price target stands at $266,000, based on volatility-adjusted comparisons to gold. A U.S. winter storm and high-cost miners exiting the market were the key drivers behind Bitcoin’s hash rate drop, though rebound signs have emerged. Despite short-term volatility, the JPMorgan team remains bullish on the crypto market through 2026, with institutional investors expected to fuel growth.

5 minutes ago

OpenAI Releases GPT-5.3-Codex-Spark Research Preview

February 13 – OpenAI today launched the GPT-5.3-Codex-Spark research preview, a streamlined iteration of GPT-5.3-Codex and the company’s first model built explicitly for real-time coding. It supports targeted editing, logic reshaping, and interface optimization—with immediate feedback for users. Optimized for ultra-low-latency hardware, Codex-Spark delivers nearly instant responses: over 1,000 tokens per second, while handling real-world coding tasks effectively.

5 minutes ago

Coinbase will focus its investments in three key areas in 2026: Building a Comprehensive Trading Platform, Expanding Stablecoins and Payments, and Onboarding the World onto the Blockchain

On February 13, Coinbase outlined three core investment priorities through 2026 in a shareholder letter: **Build the Crypto Economy**: Empower the crypto community to advance economic freedom. This includes launching an NFT marketplace, enabling peer-to-peer transactions, and expanding the decentralized finance (DeFi) ecosystem. **Enhance Blockchain Scalability**: Improve blockchain scalability by researching and deploying layer 2 solutions—such as sidechains and off-chain computations. This will boost transaction throughput and reduce network congestion. **Regulatory Compliance**: Collaborate with regulators to adhere to evolving cryptocurrency and blockchain rules. This includes rolling out robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures across all products and services.

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