Security Software CEO accused of cryptocurrency fraud

 Security Software CEO accused of cryptocurrency fraud

According to federal prosecutors, antivirus software founder John McAfee and his partner orchestrated fraudulent schemes to get millions in cryptocurrency, CNBC writes.

McAfee, 75, and his "crypto team" advisor, Jimmy Watson, 40, reportedly used the "old pump and dump" scheme of buying large amounts of cheap cryptocurrency and promoting them massively. online to artificially inflate their market prices.

The couple also reportedly used a trusted McAfee Twitter account to advertise "false and misleading" ideas about cryptography.

Cryptocurrency trading volumes jumped 17 percent last month after Tesla bought $ 1.5 billion worth of bitcoin, Reuters writes.

The move included larger exchanges that accounted for a larger share of the total.

In February, trading volume on exchanges jumped to $ 2.7 trillion. Large exchanges took the lion's share, with volumes surging more than 35 percent to $ 2.4 trillion, while smaller exchanges fell 36 percent to $ 381 billion.

This, according to Reuters, suggests a concentration of trading primarily on the larger exchanges.

Bitcoin, while known for its volatility, has been on an upward trajectory over the past few months; On February 23, it reached a record high of $ 58,354, after which its valuation began to fall. The growth came after Tesla, along with other well-known companies such as Mastercard, spoke out in support of the cryptocurrency.

Major corporate bitcoin sponsor MicroStrategy said on Friday (March 5) that it bought about 205 bitcoins for $ 10 million in cash, Reuters reported.

Thus, the company's holdings are around 91,064 bitcoins.

According to the press release, software company Meitu bought 15,000 units of Ether, as well as 379.1 units of Bitcoin.

The price was $ 22.1 million for ether and $ 17.9 million for bitcoin.

According to the post, Meitu is of the opinion that the cryptocurrency space is a destructive force similar to the initial launch of the mobile internet in 2005, which disrupted PCs and other offline organizations.

 Security Software CEO accused of cryptocurrency fraud

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