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Over the past few days, investors have been re-engaging with the most simple criticism of Michael Saylor’s massive bitcoin treasury company, MicroStrategy (MSTR). On Reddit, YouTube, Nostr, and X, fans and skeptics are fighting over whether MicroStrategy is a Ponzi scheme. Andy Constan triggered the latest round of this multi-year debate when he earned hundreds of thousands of views across various claims that MSTR is “mostly a Ponzi scheme.”  Within a day of his most popular post on the topic, Lyn Alden started to engage in a threaded debate. Their disagreements eventually left X and continued with a verbal debate.  By August 11, Constan and Alden had appeared on Danny Knowles’ What Bitcoin Did podcast. For over an hour, the duo debated the rational pricing for MicroStrategy stock and whether MicroStrategy could service perpetual dividend payouts without raising capital. Their debate merely fueled more weeks of escalating tensions that reached a fevered pitch this...

The co-founder of the fraudulent scheme is set to be sentenced in April 2023 on charges relating to wire fraud and money laundering. Karl Sebastian Greenwood, the co-founder of the multi-billion dollar fraudulent cryptocurrency scheme OneCoin has pleaded guilty to multiple charges brought forward by the United States Department of Justice (DOJ) and faces a maximum of 60 years in prison. The DOJ announced on Dec. 16 that Greenwood submitted a guilty plea in a Manhattan federal court to charges of wire fraud, wire fraud conspiracy and money laundering conspiracy with each charge carrying a maximum potential sentence of 20 years in jail. U.S. Attorney Damian Williams said Greenwood operated “one of the largest international Fraud schemes ever perpetrated” and claimed he touted OneCoin as a “Bitcoin killer” when in reality the tokens were “entirely worthless.” OneCoin was a Bulgarian company founded by Greenwood alongside “Cryptoqueen” Ruja Ignatova that marketed a cryptocurrency by the s...