SBF Submits Fresh Bahamas Supreme Court Bail Application

The local media in the Bahamas reported that Sam Bankman-Fried has submitted a new request for release on bail. This comes just two days after a court dismissed Sam Bankman-request Fried’s for bail on the grounds that the FTX founder constituted a flight risk. The court’s explanation for its decision was that Bankman-Fried posed a potential flight risk.


According to what has been reported, Sam Bankman-Fried, who is currently doing time in prison for his role in the failure of the cryptocurrency exchange FTX, has made a second appeal to the Supreme Court of the Bahamas in an effort to be released from custody. This follows an earlier attempt to get out of jail on bond, which was denied.


On December 15, a little more than one month after the initial report was made, local media stated that the application had been submitted by the author and that it will be assessed by the court on January 17, which is a little more than one month after the report had been made initially.


Prior to this, on the 13th of December, Bankman attorneys Fried’s asked for him to be released on bond in the amount of $250,000 due to the fact that he did not have any prior convictions and was suffering from melancholy as well as sleeplessness. They argued that he should be released because he did not have any prior convictions and because he was unable to sleep. On top of that, he did not have any prior convictions to his name.


The request for bail was turned down by the judge who was presiding over the case because the judge considered there was a risk that the crypto executive would depart the jurisdiction.


The fact that the government of the Bahamas has declared that it will promptly carry out any request lends credence to the notion that extradition to the United States is a plausible option under the circumstances presented here.


In the United States, the individual who designed FTX is being investigated for eight distinct felonies at the moment. Some of these charges involve money laundering, while others involve wire fraud and securities fraud.


The number of allegations could land Bankman-Fried in prison for 115 years, but legal analysts have told Cointelegraph that there is a lot to play out and that the case could take years to come to a conclusion due to the complexity of the allegations. In other words, the number of claims could land Bankman-Fried in jail for 115 years.


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Japan Reduces 30% Crypto Tax On Paper Earnings For Token Issuers

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Even if they haven’t made a profit via the sale of their shares, Japanese crypto issuers are compelled to pay a predetermined corporation tax rate of 30% on their holdings under the current framework of the law.

As part of its efforts to encourage expansion in the domestic financial and technology sectors, the government of Japan is planning to relax the tax criteria that must be met by local crypto businesses.

Even if they haven’t made a profit via the sale of their assets, Japanese companies that issue cryptocurrency are compelled to pay a fixed corporation tax rate of thirty percent (30%) on the value of their holdings.

As a result of this, a number of locally established crypto and blockchain enterprises, as well as talent, are said to have decided to establish themselves in other countries over the course of the last several years.

The tax committee of Japan’s governing Liberal Democratic Party (LDP) met on December 15 and adopted a proposal that was previously introduced in August. The plan eliminates the need that crypto firms pay taxes on paper profits from tokens that they have issued and owned. It is anticipated that the more lenient crypto tax laws would be presented to parliament in January, and that they will become operational on April 1, the first day of the new fiscal year in Japan.

In an interview with Bloomberg on December 15, LDP legislator and member of its Web3 policy office Akihisa Shiozaki remarked that this is a very major step forward and said that it would become simpler for a variety of enterprises to do business that includes the issuance of tokens.

The most recent action taken by the government seems to indicate that despite the FTX debacle, it is still eager to promote and develop the domestic crypto and Web3 sector. Prime Minister Fumio Kishida emphasized in October that NFTs, blockchain, and the Metaverse will play important roles in the nation’s digital transformation.

The global banking conglomerate Sumitomo Mitsui Financial Group (SMBC) said on the 8th of December that it is collaborating on a project to investigate the applications of soulbound tokens (SBTs).

SBTs are a reference to a concept made by Vitalik Buterin, one of the co-founders of Ethereum, about the use of tokens to represent people’s digital identities.


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Crypto Mining Ponzis That Made $8.4M Face Charges.


A multitude of people who are responsible for creating and promoting two cryptocurrencies that are suspected of being fake face a litany of accusations that could send them to prison for a period of twenty years.

Prosecutors in the United States of America have filed accusations against nine individuals in two distinct instances. These individuals are accused of founding or promoting a pair of cryptocurrency organizations that are suspected to be Ponzi schemes and earned $8.4 million from investors.

The indictment against the purported crypto mining and trading companies IcomTech and Forcount was unsealed on the 14th of December by the United States Attorney’s Office for the Southern District of New York. The indictment alleges that IcomTech and Forcount promised investors guaranteed daily returns that could double their investment in six months.

In point of fact, according to the prosecution, both businesses allegedly used the money from later investors to pay earlier investors, while other monies were spent on advertising the company, purchasing luxury goods and real estate, and so on.

It is said that promoters would show up at events flaunting their lavish lifestyles by driving expensive automobiles, donning costly clothes, and bragging about the amount of money they were generating from their investments in the firm they were pushing.

Both IcomTech and Forcount launched their own separate tokens in an effort to increase liquidity and try to repay investors. Icoms and “Mindexcoin” were the names of the tokens that were introduced by IcomTech and Forcount, respectively.

It would seem that the token sales were unsuccessful since by 2021 both companies had ceased paying payments to investors.

In the indictment, the person identified as the creator of IcomTech was identified as David Carmona, who resides in Queens, New York. Carmona was charged with conspiracy to conduct wire fraud, which carries a potential sentence of 20 years in prison.

Francisley da Silva, originally from Curitiba, Brazil, was identified as the originator of Forcount. He is now being investigated for wire fraud, money laundering conspiracy, and wire fraud conspiracy, all of which carry a potential sentence of sixty years in jail if all accusations are proven true.

The promoters of the companies are being investigated for a variety of offenses, including conspiracy to commit wire fraud, wire fraud, and money laundering, as well as making false representations.


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Metropoly Pre-Sale Raised 300k After Releasing Beta

Interest in Metropoly’s presale can be attributed to the fact that more investors are looking for alternative investment opportunities. Real estate-based projects are seen as a strong hedge against inflation and fluctuating market prices.

Implementing crypto in the real estate industry could disrupt one of the oldest industries in the world. It has the potential to remove the middlemen and all the associated fees and delays with buying real estate the traditional way.

Metropoly is the first real-estate NFT marketplace backed 100% by properties. It allows users to invest in real estate properties through NFTs. These NFTs are tied to properties in the real world, and Metropoly users can invest no matter their country or credit score.

Holders of the Real Estate NFTs still receive all the benefits of real estate ownership. This includes earning passive monthly income through the renting out of the property and the long-term appreciation of property values. 

With the Metropoly platform, a real estate deal that used to take months to finish can be completed in seconds. It makes it easy for anyone, anywhere in the world, to enter the real estate market and hedge against inflation.

The project has also launched a $1 million dollar giveaway where the winner will gain access to a $1 million dollar apartment in the Burj Khalifa. The winner stands to earn up to $100,000 USD per year in rental income from this property alone. There are 10 easy ways to enter this contest, mostly by spreading the word about Metropoly, such as joining its Telegram channel, tweeting about the project, and referring friends.

Metropoly has released a beta version of its platform, whose features include a marketplace, auctions, and mortgages. There is also a designated area to monitor monthly payouts made directly to your wallet in USDT.  

The METRO token powers the entire Metropoly ecosystem. It is an ERC20 with a limited supply of 1 billion METRO tokens. The token will be used as a payment and reward method on the Metropoly platform and offers more than 20 use cases.

The Metropoly (METRO) presale is ongoing, and the token can be purchased with USDT, ETH, or BNB. During the current presale stage, 1 METRO token costs $0.05, and the minimum investment is $100 USD.

CertiK has audited the METRO smart contract and has verified the team’s identities during an extensive KYC process to guarantee maximum transparency and security. 

How to buy METRO

Step 1: Get a crypto wallet: Download MetaMask or Trust Wallet and follow the on-screen instructions to set it up.

Step 2: Buy ETH, USDT, or BNB.

Step 3: Head to Metropoly’s Presale page and click “Connect Wallet,” then follow the on-screen instructions.

Step 4: Buy METRO tokens: Select the preferred currency, then enter the amount to exchange, click on “Buy Now,” and confirm the transaction.

For more information about, visit: 

Website | Twitter | Telegram | Burj Khalifa Giveaway 


Head of PR
Alex Meyer


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