Florida's 'Bitcoin Rodney' Admits Guilt in Massive $1.8B Crypto Ponzi Scheme

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 3 days ago

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Illegal Money Transmission: Rodney Burton admitted guilt for operating an illegal money transmission business linked to HyperFund, which defrauded investors of $1.8 billion globally, highlighting increasing regulatory risks in the crypto market.
Massive Profits: Burton earned over $7.8 million from the fraudulent scheme, reflecting his active role in promoting false investment promises and further exposing the prevalence of fraud in the cryptocurrency sector.
Platform Shutdown: HyperFund ceased operations in November 2022, blocking user withdrawals, indicating that the platform's operations were entirely based on false promises, leading to a significant decline in investor trust.
Legal Consequences: Burton faces a maximum sentence of five years in federal prison, with sentencing scheduled for July 23, underscoring the increasing legal scrutiny and enforcement actions against crypto marketing practices.

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Technical Analysis for JST

Technical Sentiment Analysis for JUST (JST). As of , JUST (JST) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 2 indicators are flashing buy, while 6 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for JST stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, JST is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

JUST (JST) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0647	0.0693	0.0752	0.0799	0.0858	0.0905	0.0964
Fibonacci	0.0693	0.0734	0.0759	0.0799	0.084	0.0865	0.0905

About JST

JUST is a popular new decentralized finance (DeFi) ecosystem built for the TRON blockchain. It is an entire suite of products that are mostly centered around a decentralized stablecoin lending platform known as JustStable.The platform launched in August 2020 following an initial exchange offering (IEO) on the Poloniex LaunchBase platform earlier that same year, but the native governance token of the platform (JST) has been circulating since May 2020.It is a two-token ecosystem built around the USDJ and JUST (JST) tokens. USDJ is a multi-collateral stablecoin that has its value pegged to the value of the US dollar (USD), whereas JST has a variety of functions on the platform — paying interest, helping maintain the platform and participating in its governance, helping to set parameters like interest rates (stability fees) and the minimum collateralization ratio.To obtain USDJ on JUST, traders need to deposit collateral in the form of supported collateral tokens — including TRON (TRX), which are exchanged to PTRX tokens and locked as collateral forming a collateralized debt position (CDP). Depending on the amount of collateral deposited, users can then mint and withdraw USDJ, which must later be repaid to retrieve the initial collateral.The platform is designed to provide a fair and borderless hub of DeFi products, that any TRON user can access.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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