Polkadot Teams Up with SP Negócios to Boost Crypto Economy Growth

SP Negócios, São Paulo’s agency for boosting investment and exports has teamed up with Polkadot to spark innovation in São Paulo’s crypto scene. Polkadot is really stepping up as a key player with its secure and transparent platform. Experts have even predicted a potential 300% surge of this token in near future.

After this team up, people and companies on São Paulo will have full access, starting this December, to free blockchain programming training from Código Brazuca. Its reportedly open to absolutely everyone, even people with zero prior experiences.

A decentralized business developer at Polkadot, Gustavo J. Massena believes this partnership will train blockchain programmers and bring techs closer to all kinds of businesses in São Paulo, and this will be for everyone from startups to well established businesses. SP Negócios also believes this will make the city a go to hub for blockchain and crypto innovation.

This collab is benefitting both sides, for Polkadot, it increases adoption of its technology and is also very beneficial for its brand reputation and trust. As for São Paulo, this collab is a major boost for its tech scene. The city will now attract new investments, help in upbringing of startups and most importantly solidify São Paulo’s status in the blockchain world.

Blockchain is already shaking things up in areas like DeFi, NFTs, and asset tokenization, and this partnership aims to fuel even more growth.

Austria Sentences Five in Landmark $21.6M Crypto Scam Trial

Summary

Five individuals were sentenced to prison for their roles in a Ponzi-like scheme. This incident occured in Austria, where the sentenced individuals involved themselves in the EXW-Token scam that defrauded over 40,000 investors out of €20 million ($21.6 million).

Landmark Crypto Fraud Trial Ends in Sentencing

Austria’s largest crypto fraud case to date, took a year-long trial and 60 days of hearings. The Klagenfurt Regional Court sentenced five individuals involved in the EXW-token scam. The individuals were found guilty of running a Ponzi-like scheme, persuading investors with promises of daily returns through fraudulent ventures,including the EXW Wallet and fictitious investments in real estate and rental cars.This fraudulent scheme had already collapsed in 2020 but briefly managed to resurface under the name Exchange World.

YOU MIGHT ALSO LIKE: What is Goatseus Maximus (GOAT) and why is it trending?

Lavish Spending Funded by Fraud

Court recordings reveal that the defendants were using the stolen funds to facilitate their lavish lifestyles; luxury cars, private jets and mansions. Out of all the stolen goods some of the stolen goods was allegedly transfered from Dubai to Austria.Two of the defendants received five-year sentences, with others handed 30-month and 18-month suspended sentences. EXW Wallet co-founders Benjamin Herzog and Pirmin Troger had already pleaded guilty and received five-year sentences.

A Rising Global Threat

The EXW-Token case highlights a troubling increase in crypto scams globally. France recently began its own $30 million crypto fraud trial, while the U.S. sentenced a Ponzi promoter to prison. With crypto-related frauds surging, authorities worldwide are cracking down to protect investors and maintain trust in the cryptocurrency market.

Exit mobile version