Business leaders and investors are naturally drawn to the next big thing. Being an early investor in an exciting project can bring not only massive returns, but it can also bring much needed innovation and credibility to your investment portfolio. What if you are the first to see promise in the next Bitcoin? However, for every exciting new venture, there are just as many fraudulent companies. The collapse of Enron, the mortgage-backed security failures, Theranos, and the massive swings in the crypto market are the direct consequence of ignoring the fundamentals and riding the hype, greed, and ignorance train. Despite the naysayers and FUD surrounding it, blockchain technology and crypto…
Former Enron CEO seeks to transition from jail to blockchain
Jeffrey Skilling is reportedly working on creating a blockchain-based business aimed at connecting investors with oil and gas firms
Former Enron CEO Jeffrey Skilling is working on creating a blockchain-based company in the oil and gas industry, according to an article in the Wall Street Journal. Skilling was recently released after serving more than 12 years in prison for his role in the Enron scandal, which saw the energy-trading firm collapse in 2001 due to an enormous accounting fraud scheme.
Uncomfortable questions for Bitfinex and Tether as feds search for bitcoin manipulation
It remains to be seen if Bitfinex and Tether are the subjects of a criminal investigation
Two Bloomberg stories about bitcoin published within an hour of each other on Thursday seemed barely related. But to those who follow the space closely, they are really the same story—and it’s perhaps the biggest story in crypto, one that may yet turn out to be the Enron of the cryptocurrency world, if not worse. The first piece, which went live at 4 a.m. Eastern Time, said the Department of Justice is conducting a criminal probe into bitcoin price manipulation. The feds are said to be looking at the practices of spoofing and executing wash trades to move the price of the cryptocurrency. [“Spoofing” is when someone puts in a…