The SEC charged Texas man Nathan Fuller with raising $12.3 million from 150 investors through a crypto fraud scheme built around fake AI trading bots. The Securities and Exchange Commission has charged a Texas man with running a crypto fraud scheme that raised $12.3 million from roughly 150 investors by falsely claiming to use AI-powered trading bots to generate guaranteed returns. Nathan Fuller, a resident of Cypress, Texas, operated the scheme through his company Privvy Investments, LLC, and under the assumed business name Gateway Digital Investments between at least October 2022 and mid-2024, according to the SEC’s complaint filed in the US District Court for the Southern District of Texas. Fuller allegedly promised investors returns of 40% to 50% within 30 to 45 days, with some told they could make guaranteed profits exceeding 100% in as little as 21 days. To back up the pitch, he claimed investor funds were secured by a surety bond, insured by the Federal Deposit Insurance Corporation (FDIC) and protect...
Spot Bitcoin ETFs logged a record 10-day outflow streak totaling nearly $3 billion, while Ether ETFs bled for 14 consecutive sessions. Spot Bitcoin exchange-traded funds (ETFs) have logged outflows for ten consecutive trading days, with total net redemptions exceeding $2.97 billion since May 15, a streak that one analyst says may signal a market bottom is near. According to data from SoSoValue, daily outflows ranged from $70 million to $733 million across the period, with the steepest single-day exodus recorded on Wednesday at $733.43 million. Total net assets held across spot Bitcoin (BTC) ETFs have dropped from $104.29 billion on May 15 to $94.17 billion as of Friday, a decline of roughly $10 billion in two weeks. The current streak broke the previous record of eight consecutive outflow sessions, which was recorded in early last year and saw $3.2 billion in withdrawals, on Thursday, before extending to 10 days on Friday. Read more
BSTR co-founder Sean Bill says many Bitcoin treasury companies lack the “ability to actually deploy Bitcoin.” The Bitcoin treasury company space is becoming more divided between firms with actual financial strategies and those leaning more on promotion, according to one industry executive. “I think a lot of them don't have the right capital structure, right. They don't have the ability to actually deploy Bitcoin,” Sean Bill — co-founder of Bitcoin treasury company BSTR, alongside Adam Back — said during an interview with Cointelegraph published to YouTube on Tuesday. “They're really planning on having Bitcoin do all the talking for them,” Bill said. “I do think that you have a lot of carnival barkers in this space,” Bill said. Read more
US Treasury Secretary Scott Bessent said the US has seized roughly $1 billion in Iranian crypto assets, double the figure disclosed in late April. The United States has seized roughly $1 billion in Iranian crypto assets, Treasury Secretary Scott Bessent said Friday, adding that some of the wallet owners may not yet know the funds are gone. “I believe that we have seized about a billion dollars of their crypto,” Bessent said while speaking at the Reagan National Economic Forum. “Just outright grabbed the wallets. Some of them may be typing in right now and not have realized that their wallet had been grabbed,” he added. Bessent said the seizures are part of the US financial pressure campaign against Iran, known as Operation Economic Fury. Launched in March 2025, the operation has targeted Iranian assets across multiple fronts, seizing cryptocurrency, freezing bank accounts and working with European allies to confiscate properties. Read more