The Securities and Exchange Commission (SEC) has obtained a judgment against Glenn Arcaro, the lead promoter of massive crypto scam BitConnect, and his company, Future Money Ltd, the regulator announced on Thursday.
The judgment came after Arcaro and his company were indicted by the SEC in September for their role in promoting the lending programs of BitConnect. He was the lead national promoter of the scheme in the United States and lured victims to invest through the Future Money website.
He has already pled guilty to other BitConnect-related activities, including charges of conspiracy to commit wire fraud.
A Major Crypto Scam
BitConnect was one of the largest cryptocurrency scams that was estimated to have duped investors of $2 billion during the 2017
initial coin offering (ICO
Initial Coin Offering (ICO)
An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Accompanying most major ICOs has been the prevalence of a whitepaper. A whitepaper serves as both a persuasive sales pitch, and in-depth report on a specific topic that presents a problem and provides a solution. Most marketers relied on whitepapers to educate their respective audience about a particular issue, or explain and promote a particular methodology that an ICO could potentially solve. The information enclosed in whitepapers have historically been met with skepticism.Why ICOs Have Fallen Out of FavorThis is due in large part to the early days of ICOs, as this practice was highly unregulated and extremely risky. Because there were no regulations delineating who could and could not hold an ICO, many bad actors or incompetent technologists saw the practice as an opportunity to grab a lot of fast cash.As a result, many investors have lost quite a lot of money – their tokens were either never returned to them, or the companies who issued the tokens failed within several months of the token’s official launch.Regulators around the world have cracked down on the practice, which has resulted in a slightly “cleaner” ICO space.However, ICOs have garnered a pretty bad reputation and are still regarded as generally untrustworthy. As such, other methods of fundraising, such as Initial Exchange Offerings (IEOs) and Security Token Offerings (STOs) have been born.
An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Accompanying most major ICOs has been the prevalence of a whitepaper. A whitepaper serves as both a persuasive sales pitch, and in-depth report on a specific topic that presents a problem and provides a solution. Most marketers relied on whitepapers to educate their respective audience about a particular issue, or explain and promote a particular methodology that an ICO could potentially solve. The information enclosed in whitepapers have historically been met with skepticism.Why ICOs Have Fallen Out of FavorThis is due in large part to the early days of ICOs, as this practice was highly unregulated and extremely risky. Because there were no regulations delineating who could and could not hold an ICO, many bad actors or incompetent technologists saw the practice as an opportunity to grab a lot of fast cash.As a result, many investors have lost quite a lot of money – their tokens were either never returned to them, or the companies who issued the tokens failed within several months of the token’s official launch.Regulators around the world have cracked down on the practice, which has resulted in a slightly “cleaner” ICO space.However, ICOs have garnered a pretty bad reputation and are still regarded as generally untrustworthy. As such, other methods of fundraising, such as Initial Exchange Offerings (IEOs) and Security Token Offerings (STOs) have been born.
Read this Term) peak.
According to the SEC, Arcaro served as the US national promoter of BitConnect between August 2017 to January 2018. He promoted the fraudulent digital asset scheme to retail investors and prospective investors, and he communicated information and instructions from Bitcommect to other promoters in the country.
Both Arcaro and his company, Future Money consented to the entry judgment to which they are permanently enjoined from violating the charged provisions. Further, he cannot participate in the offering, operating and promoting certain
marketing
Marketing
Marketing is defined as the business process of identifying, anticipating and satisfying customers’ needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have to handle the acquisition of traders, retaining them for a longer period of time or distinguishing between brokerage and competitors.What Are the Most Common Marketing Strategies Used by FX Brokers?This process can take shape in a variety of forms. Advertising is the most commonly deployed technique for forex marketing.This includes a marketing plan that touches on digital and traditional advertising. Advertising can include banner ads, notifications, newsletters, or other mechanisms for drawing attention to any brand or brokerage.Blog posting or other forms of search engine optimization (SEO) are also effective marketing tools for forex brokers.Well-organized and attractive pieces of content on websites are very useful for users and clients and have proven to be successful marketing strategies.Such efforts also enable websites to be found by those looking for what a broker offers and those who are looking for some knowledge about the trading industry. This can also help generate traffic on landing pages, converting sales. Social media has also rapidly evolved as a critical element of marketing.Forex brokers rely on social media such as Twitter, Facebook, or Linkedin for marketing needs, capable of reaching a huge audience. Ultimately marketing requires efforts on part of brokers to bridge the gap with their desired audience. In this instance, this means potential clients or existing ones.
Marketing is defined as the business process of identifying, anticipating and satisfying customers’ needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have to handle the acquisition of traders, retaining them for a longer period of time or distinguishing between brokerage and competitors.What Are the Most Common Marketing Strategies Used by FX Brokers?This process can take shape in a variety of forms. Advertising is the most commonly deployed technique for forex marketing.This includes a marketing plan that touches on digital and traditional advertising. Advertising can include banner ads, notifications, newsletters, or other mechanisms for drawing attention to any brand or brokerage.Blog posting or other forms of search engine optimization (SEO) are also effective marketing tools for forex brokers.Well-organized and attractive pieces of content on websites are very useful for users and clients and have proven to be successful marketing strategies.Such efforts also enable websites to be found by those looking for what a broker offers and those who are looking for some knowledge about the trading industry. This can also help generate traffic on landing pages, converting sales. Social media has also rapidly evolved as a critical element of marketing.Forex brokers rely on social media such as Twitter, Facebook, or Linkedin for marketing needs, capable of reaching a huge audience. Ultimately marketing requires efforts on part of brokers to bridge the gap with their desired audience. In this instance, this means potential clients or existing ones.
Read this Term and sales programs, and he cannot participate directly or indirectly in digital asset securities offerings.
Moreover, the judgment requires Arcaro and Future Money to pay disgorgement with interests, along with civil penalties, but the amount will be decided at a later stage.
Apart from Arcaro, the US regulator induced BitConnect Founder, Satish Kumbhani and settled with other promoters of the scheme in the country as well. Last month, the US authorities announced that they will start selling $56 million worth of cryptocurrencies seized in the investigation against BitConnect.
The Securities and Exchange Commission (SEC) has obtained a judgment against Glenn Arcaro, the lead promoter of massive crypto scam BitConnect, and his company, Future Money Ltd, the regulator announced on Thursday.
The judgment came after Arcaro and his company were indicted by the SEC in September for their role in promoting the lending programs of BitConnect. He was the lead national promoter of the scheme in the United States and lured victims to invest through the Future Money website.
He has already pled guilty to other BitConnect-related activities, including charges of conspiracy to commit wire fraud.
A Major Crypto Scam
BitConnect was one of the largest cryptocurrency scams that was estimated to have duped investors of $2 billion during the 2017
initial coin offering (ICO
Initial Coin Offering (ICO)
An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Accompanying most major ICOs has been the prevalence of a whitepaper. A whitepaper serves as both a persuasive sales pitch, and in-depth report on a specific topic that presents a problem and provides a solution. Most marketers relied on whitepapers to educate their respective audience about a particular issue, or explain and promote a particular methodology that an ICO could potentially solve. The information enclosed in whitepapers have historically been met with skepticism.Why ICOs Have Fallen Out of FavorThis is due in large part to the early days of ICOs, as this practice was highly unregulated and extremely risky. Because there were no regulations delineating who could and could not hold an ICO, many bad actors or incompetent technologists saw the practice as an opportunity to grab a lot of fast cash.As a result, many investors have lost quite a lot of money – their tokens were either never returned to them, or the companies who issued the tokens failed within several months of the token’s official launch.Regulators around the world have cracked down on the practice, which has resulted in a slightly “cleaner” ICO space.However, ICOs have garnered a pretty bad reputation and are still regarded as generally untrustworthy. As such, other methods of fundraising, such as Initial Exchange Offerings (IEOs) and Security Token Offerings (STOs) have been born.
An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Accompanying most major ICOs has been the prevalence of a whitepaper. A whitepaper serves as both a persuasive sales pitch, and in-depth report on a specific topic that presents a problem and provides a solution. Most marketers relied on whitepapers to educate their respective audience about a particular issue, or explain and promote a particular methodology that an ICO could potentially solve. The information enclosed in whitepapers have historically been met with skepticism.Why ICOs Have Fallen Out of FavorThis is due in large part to the early days of ICOs, as this practice was highly unregulated and extremely risky. Because there were no regulations delineating who could and could not hold an ICO, many bad actors or incompetent technologists saw the practice as an opportunity to grab a lot of fast cash.As a result, many investors have lost quite a lot of money – their tokens were either never returned to them, or the companies who issued the tokens failed within several months of the token’s official launch.Regulators around the world have cracked down on the practice, which has resulted in a slightly “cleaner” ICO space.However, ICOs have garnered a pretty bad reputation and are still regarded as generally untrustworthy. As such, other methods of fundraising, such as Initial Exchange Offerings (IEOs) and Security Token Offerings (STOs) have been born.
Read this Term) peak.
According to the SEC, Arcaro served as the US national promoter of BitConnect between August 2017 to January 2018. He promoted the fraudulent digital asset scheme to retail investors and prospective investors, and he communicated information and instructions from Bitcommect to other promoters in the country.
Both Arcaro and his company, Future Money consented to the entry judgment to which they are permanently enjoined from violating the charged provisions. Further, he cannot participate in the offering, operating and promoting certain
marketing
Marketing
Marketing is defined as the business process of identifying, anticipating and satisfying customers’ needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have to handle the acquisition of traders, retaining them for a longer period of time or distinguishing between brokerage and competitors.What Are the Most Common Marketing Strategies Used by FX Brokers?This process can take shape in a variety of forms. Advertising is the most commonly deployed technique for forex marketing.This includes a marketing plan that touches on digital and traditional advertising. Advertising can include banner ads, notifications, newsletters, or other mechanisms for drawing attention to any brand or brokerage.Blog posting or other forms of search engine optimization (SEO) are also effective marketing tools for forex brokers.Well-organized and attractive pieces of content on websites are very useful for users and clients and have proven to be successful marketing strategies.Such efforts also enable websites to be found by those looking for what a broker offers and those who are looking for some knowledge about the trading industry. This can also help generate traffic on landing pages, converting sales. Social media has also rapidly evolved as a critical element of marketing.Forex brokers rely on social media such as Twitter, Facebook, or Linkedin for marketing needs, capable of reaching a huge audience. Ultimately marketing requires efforts on part of brokers to bridge the gap with their desired audience. In this instance, this means potential clients or existing ones.
Marketing is defined as the business process of identifying, anticipating and satisfying customers’ needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have to handle the acquisition of traders, retaining them for a longer period of time or distinguishing between brokerage and competitors.What Are the Most Common Marketing Strategies Used by FX Brokers?This process can take shape in a variety of forms. Advertising is the most commonly deployed technique for forex marketing.This includes a marketing plan that touches on digital and traditional advertising. Advertising can include banner ads, notifications, newsletters, or other mechanisms for drawing attention to any brand or brokerage.Blog posting or other forms of search engine optimization (SEO) are also effective marketing tools for forex brokers.Well-organized and attractive pieces of content on websites are very useful for users and clients and have proven to be successful marketing strategies.Such efforts also enable websites to be found by those looking for what a broker offers and those who are looking for some knowledge about the trading industry. This can also help generate traffic on landing pages, converting sales. Social media has also rapidly evolved as a critical element of marketing.Forex brokers rely on social media such as Twitter, Facebook, or Linkedin for marketing needs, capable of reaching a huge audience. Ultimately marketing requires efforts on part of brokers to bridge the gap with their desired audience. In this instance, this means potential clients or existing ones.
Read this Term and sales programs, and he cannot participate directly or indirectly in digital asset securities offerings.
Moreover, the judgment requires Arcaro and Future Money to pay disgorgement with interests, along with civil penalties, but the amount will be decided at a later stage.
Apart from Arcaro, the US regulator induced BitConnect Founder, Satish Kumbhani and settled with other promoters of the scheme in the country as well. Last month, the US authorities announced that they will start selling $56 million worth of cryptocurrencies seized in the investigation against BitConnect.
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