- The SEC sued Geosyn Mining and co-founders for misappropriating funds and misleading investors.
- Bitbot has revolutionized crypto trading with its non-custodial Telegram bot.
- The $BITBOT presale is close to the $3M presale and the token is poised to rise from the current $0.0171 to $0.018.
The Securities and Exchange Commission (SEC) has filed charges against Bitcoin miner Geosyn Mining, LLC and its co-founders, Caleb Joseph Ward and Jeremy George McNutt, for allegedly defrauding investors of $5.6 million.
During this, bitbotA non-custodial Telegram trading bot is on the verge of reaching $3 million in its presale.
Let us know about these developments in detail.
SEC charges against Geosyn Mining and its co-founders
According to SEC complaintFiled in a federal court in Texas, Geosyn raised approximately $5.6 million from more than 60 investors between November 2021 and December 2022.
According to the US SEC, the company allegedly misled investors by promising to deliver mining assets while falsely claiming to purchase, maintain and operate crypto mining machines. Bitcoin, for a fee to investors. The SEC alleges that Geosyn made false claims about its contracts with electricity providers, failed to disclose that it never purchased certain miners, and did not provide services as promised.
Additionally, Ward and McNutt are accused of misappropriating approximately $1.2 million for personal use.
The SEC seeks a permanent injunction, immunity with prejudgment interest and civil penalties against Ward and McNutt.
Bitbot: A Telegram bot that is revolutionizing crypto trading
While the US SEC is after Geosyn Mining LLC, Bitbot, an innovative non-custodial Telegram trading bot that aims to democratize crypto trading, is making waves with its token presale.
In addition to its token presale, Bitbot offers users institutional-grade tools in a secure and easy-to-use package, allowing them to trade directly from Telegram while maintaining control over their assets. It integrates with self-custodial wallets, ensuring that users maintain complete control over their keys and assets.
The platform employs a decentralized security system, NightSafe, to protect trading activities. It offers a range of trading tools, including automated sniping, limit orders, copy trading and yield optimization, accessible to users of all trading experience levels.
Bitbot presale nears $3 million
In recent developments, bitbot presale Fast approaching the $3 million mark. The presale, which offers investors the opportunity to acquire Bitbot’s native utility coin, the $BITBOT token, has received significant interest from the crypto community and has raised a total of $2,900,178 at the time of writing.
Investors can buy $BITBOT tokens at the current price of $0.0171 per token before the price rises to $0.018 in the next leg.
Investors can participate in the presale by importing or creating a smart contract wallet directly through Telegram and once the presale period ends, investors can claim their $BITBOT tokens through Bitbot’s official website.
$BITBOT token holders will benefit from revenue sharing, exclusive pre-sale access, unique perks, a role in the strategic direction of Bitbot through governance, and much more.
conclusion
The SEC’s legal action against Geosyn Mining highlights the importance of regulatory compliance in the crypto industry, while Bitbot’s presale success underscores the growing demand for innovative trading solutions in the crypto market.
As Bitbot continues to revolutionize crypto trading, investors eagerly anticipate the future growth and expansion of the platform.
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