Donald Trump announced his latest cryptocurrency project called "The DeFiant Ones" pointing out to a new decentralized finance (DeFi) platform, leading this week's top stories for CryptoWatch. This was followed by the recent Toncoin (TON) crash after its founder and Telegram founder, Pavel Durov, was arrested upon landing in Paris, France.
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Moreover, there is also a bank CEO from Kansas who fell for a pig-butchering crypto scam and was sentenced to 24 years in prison for causing HTSB's collapse.
Trump Unveils 'The DeFiant Ones,' a New Family-Run DeFi Platform
The former President of the United States and current Presidential candidate of the Republican party, Donald Trump, has announced his latest crypto project on his social media network, Truth Social, called 'The DeFiant Ones.' There were only teasers made by the renowned business magnate, and it was reported that it would be run by his family.
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In this latest announcement, Trump is once again calling upon his followers to "take a stand-together," against the world's banking and financial elites.
There was no information yet about this DeFi platform, but from what Trump teased, it stands up against those who are "squeezing" the American people, also asking people to join their new Telegram channel to get updates.
Toncoin Crashes After Telegram CEO Pavel Durov Gets Arrested
A massive crash was suffered by one of the top cryptocurrencies in the market, Toncoin, best known as The Open Network, seeing as much as a 20 percent plummet that took place only two days ago. This was because its founder and Telegram CEO Pavel Durov had been arrested by the French authorities after landing in the European country.
From its valuation of $6.7 earlier that day, the cryptocurrency saw itself crashing to $5.7 losing around 17 percent of its value after the incident.
It was revealed by Forbes that this was because of a preliminary police investigation involving Telegram whichreportedly allowed and failed to prevent criminal activity from taking place on the platform.
Bank CEO Gets 24 Years in Prison After Being Scammed
A bank CEO was recently handed a prison sentence of 24 years by a federal judge after falling for a cryptocurrency scam which led to the bank losing as much as $47 million. It was revealed by that this was because of a pig butchering scam which Shan Hanes was a victim of, failing to realize that he was getting conned by unknown threat actors amidst the almost two-year transaction.
Hanes pled guilty to his crimes and was charged with one count of embezzlement against the Heartland Tri-State Bank (HTSB).
Initially, Hanes reportedly stole money from a local church, a local investor club, and his daughter's college fund. From May to July 2023, he stole from HTSB.
It was only after Brian Mitchell, his neighbor, reported this to the bank's board that Hanes was stripped of his position and was later sued.
