Google Engineer Indicted for Insider Trading in $1.2M Polymarket Scheme
- Insider Trading Charges: Google software engineer Michele Spagnuolo has been federally indicted for allegedly exploiting confidential company information for gambling, with $2.7 million wagered and $1.2 million in profits, facing up to 50 years in prison if convicted.
- Use of Internal Tools: Spagnuolo is accused of leveraging Google's proprietary analytics tool to monitor search trends, executing 25 wagers on Polymarket, which indicates he had an unfair advantage in these trades.
- Funds Transfer and Cover-Up: Following successful bets, he allegedly transferred $5 million in USDC from his Polymarket wallet to external cryptocurrency addresses, employing privacy tools to obscure transaction origins, demonstrating meticulous planning of fund movements.
- Company Response and Investigation: Google has placed Spagnuolo on administrative leave, stating that such actions represent a serious breach of company policy, while Congress has initiated investigations into Polymarket and its competitors, raising concerns about government personnel potentially leveraging insider information for financial gain.
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Technical Analysis for
Technical Sentiment Analysis for (). As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for 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, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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