Another day, another criminal 😎

GM, GM. Bean Boy is back with our hump-day edition. All the latest and greatest in Crypto to not only get you through the week, but also keep you in the loop. Today’s edition features Cruz, Criminals and Crypto YouTubers, what more could you want? Anyway, let’s see what’s in the pod for today.

How we looking today?

Oh yes, we are so back.

TED CRUZ TAKES ON THE WORLD (Well… kinda)

Every day, without fail, a new main character steps up in the world of Cryptocurrency. Today, it’s Ted Cruz. The staunch Republican is taking on Biden and the Federal Reserve this time. Earlier today, Senator Cruz introduced a bill which would ultimately prohibit the Federal Reserve from issuing a direct-to-consumer central bank digital currency, that would effectively be a U.S Government stable coin.

In it’s introduction, Senator Cruz said "The federal government has no authority to unilaterally establish a central bank currency," further going on to say “the bill goes a long way in making sure big government doesn’t attempt to centralize or control cryptocurrency and instead, allows it to thrive in the United States. We should be empowering entrepreneurs, enabling innovation, and increasing individual freedom — not stifling it."

It comes just weeks after the Biden government announced that it had signed an executive order within administration to study whether the U.S Central Bank should create a digital currency. Ok ok, hear us out. Whether you like him or not, Ted Cruz actually has a good point here. Isn’t the whole point of Cryptocurrency decentralization?! It just feels like it would go against everything our lord and savior Satoshi has worked towards…

NOT SO COMPLIANT AFTER ALL…

Now for your daily dose of criminal activity stemming from a project you’ve never heard of… Earlier today, United States federal prosecutors charged a former executive of the fraudulent Cryptocurrency scheme OneCoin for her role in the operation. After being extradited from Bulgaria to the U.S, OneCoin’s former head of compliance (LOL), Irina Dilkinska now faces up to 40 years in prison.

Dilkinska was charged with one count of wire fraud and one count of conspiracy to commit money laundering, with each charge carrying a maximum sentence of 20 years. In the operation, Dilkinska allegedly aided in laundering over $400M, with U.S Attorney Damian Williams saying this about her…

“Irina Dilkinska, the supposed Head of Legal and Compliance for the OneCoin cryptocurrency pyramid scheme, accomplished the exact opposite of her job title and allegedly enabled OneCoin to launder millions of dollars of illegal proceeds through shell companies."

After her extradition, it appears only one main player remains to be charged. A founder of the project, Ruja Ignatova, is still missing after evading law enforcement, packing her bags on a one way trip to Greece just 15 days after her arrest warrant was issued. The other co-founder, Karl Greenwood, was not so lucky. He now faces up to 60 years in prison after pleading guilty in December. Should’ve went to Greece man!

ORDINALS ARE STILL A THING?

No, we’re not talking about Ethereum NFT’s here. We’re talking about Ordinals baby. The Bitcoin based NFT’s allowed projects to launch via Bitcoin, as opposed to Ethereum. We’re not so sure of what the advantage of doing so is, but all we know is it was hyped up for a couple of weeks.

Anyway, Magic Eden, an NFT marketplace, announced that it has launched its own marketplace for Bitcoin Ordinals (yay?). Magic Eden did say however that there will be no royalty support for the time being, meaning launching projects for the purpose of selling on Magic Eden probably isn’t the wisest move.

Whilst the Ordinal hype may have died down for now, we can only applaud Magic Eden for going through with creating a fully audited (Their words, not ours) marketplace to buy, sell and trade Ordinals. It does feel a tad too late though. Of course things are going to take time, but it feels like the hype-train has really derailed, and nobody cares anymore.

PEAS IN THE POD

• Infamous Crypto YouTuber BitBoy is back at it again. After being named in the FTX lawsuit, he sent this to the lawyers who named him.

  

• Sony has filed a patent for NFT’s that will allow for the trading of in-game assets. This could be interesting, but let’s wait and see…

• In other Texas related news, the state of Texas has introduced a Bill protecting the rights of Bitcoin miners, holders and developers! Bullish on Texas.

HOW YOU BEAN - A READERS CONFESSION

During the previous bull run I was mind controlled to the point where I borrowed money from all of my close families, friends, and even my girlfriend, to leverage long BTC. I lost, every. single. cent. There is no future for me, my parents had to separate and sell their apartment so when I filed bankruptcy they wouldn’t get hit. My belief on BTC going to 100k has ruined every one of my relationships.

PEE-PEA OF THE DAY

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.