As a seasoned crypto investor with over a decade of experience, I’ve seen my fair share of market fluctuations and regulatory investigations. The recent CFTC subpoena to Hit Network, once led by the influential figure Ben “BitBoy” Armstrong, has certainly piqued my interest.
As a crypto investor, I’ve recently learned that the Commodity Futures Trading Commission (CFTC) has served a subpoena to Hit Network, the previous company of well-known cryptocurrency influencer Ben “BitBoy” Armstrong. This action is part of an ongoing probe into alleged fraudulent practices surrounding 15 digital assets, including the BEN memecoin, that Hit Network was associated with. It’s important for us to stay informed and vigilant as investors amidst such developments in the crypto world.
On July 16th, a subpoena was issued asking for comprehensive details regarding transactions involving 15 different cryptocurrencies and any associated digital wallets. The Commodity Futures Trading Commission claims that certain unknown parties may have been involved in deceitful activities concerning these digital currencies.
Armstrong, a highly influential figure in the crypto space, promoted 14 of the 15 tokens in his YouTube videos prior to the establishment of Hit Network. His subsequent involvement with the BEN memecoin has also come under scrutiny.
As a seasoned observer of the digital currency market, I have witnessed the rapid growth and increasing regulatory scrutiny of the cryptocurrency industry over the past few years. The latest investigation into the sector is yet another example of how this space is coming under closer examination, which I believe is long overdue given its potential impact on global finance.
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2024-08-03 01:56