Judge Rules in Favor of CFTC, Declares Two Altcoins as Commodities in $120M Crypto Ponzi Scheme
- Illinois Court Ruling: An Illinois district court judge ruled in favor of the CFTC in a crypto Ponzi scheme case, declaring two altcoins as commodities.
- Ponzi Scheme Details: The scheme involved Sam Ikkurty from Oregon and his companies defrauding victims with promises of 15% yearly returns on investments in digital asset commodities like Bitcoin, Ether, Olympus (OHM), and KlimaDAO (KLIMA).
- Altcoins as Commodities: OHM and KLIMA were classified as commodities by the court, falling into the same category as Bitcoin.
- CFTC's Findings: Ikkurty misled investors by misrepresenting fund performance, resulting in significant losses and a shortfall in a carbon offset program.
- Legal Consequences: Judge Mary Rowland ordered Ikkurty to pay over $83.7 million in restitution and $36.9 million in disgorgement for his involvement in the Ponzi scheme.
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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 stock.
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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