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🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas,
Former executives of Cred plead guilty, user losses reach as high as $150 million.
According to Gate.io News bot and a report by Cointelegraph, former CEO Daniel Schatt and former CFO Joseph Podulka of the encryption lending service platform Cred have pleaded guilty to wire fraud in a California district court. During their tenure, the two concealed the company's financial difficulties and misled customers into investing, resulting in user losses ranging from $65 million to $150 million.
Judge William Alsup has accepted a plea agreement and scheduled a sentencing hearing for August 26. According to the agreement, Schatt and Podulka face a maximum of 72 months and 62 months of imprisonment, respectively. Cred filed for bankruptcy in November 2020, ultimately resulting in user losses of up to $150 million.