Northern District of Texas Founders of Crypto ICO Sentenced to Combined 8 Years in Prison for Tax Evasion After Raising $24 Million from Investors United States Department of Justice

Bitqy (BQ) is the #1865 largest cryptocurrency by market cap as of June 09, 2023, with a market cap of $10,907.50 USD. A token is a representation https://cryptolisting.org/coin/bq/forum of an on-chain or off-chain asset. The token page shows information such as price, total supply, holders, transfers and social links.

DR (Domain Rating) metric is a sign of the project’s website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic – is a metric of how many monthly users visit the project’s website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype. These are the project’s quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project. A white paper posted on the Bitqyck website promised investors that each Bitqy token came with 1/10th of a share of Bitqyck common stock. Mr. Bise and Mr. Mendez admitted, however, that they never actually distributed shares to token holders nor embedded the shares within the Ethereum Smart Contract.

Convert bitqy to Uganda shilling. New calculation.

Everyone’s earnings can vary depending on a number of factors, including time & effort put forth, achieved rank level, number of Customers and/or Affiliates they have referred, marketing experience, etc. Bitqyck Inc., their employees, Management, nor myself cannot be held liable in any way if you do not achieve any income results that may be described herein. 5 crypto regulations to be aware of in 2023 One of the myths around cryptocurrency is that the industry is entirely unregulated.

An ICO is a process where a company attracts investors by selling a new cryptocurrency, which may be purchased in the hope that its value will increase. Obviously, a company that relies solely on new memberships to turn a profit, and doesn’t sell any products or services of its own, is more of a pyramid scheme than a legitimate business. The quantity of all coins/tokens that have ever been issued (even if the coins are locked), minus all coins/tokens that have been removed from circulation (burned). The Total Supply is similar to stock market’s Outstanding Shares.

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Sam Mendez, one of the co-founders of BitQyck, explained the two facets of BitQyck. While BitQyck serves as their e-commerce platform, BitQy serves as the cryptocurrency. By using crypocurrency – i.e. digital currency that operates independently of a bank, where encryption is used to regulate the currency and verify the transfer of funds – BitQyck can shift ownership of BitQy seamlessly. A list of the top bitqy markets across all crypto exchanges based on the highest 24h trading volume, with their current price. BitQyck created a cryptocurrency firm and allegedly promised tiny shares in its stock in the form of the BitQy and BitQyM digital currencies, the lawsuit said. The company operated its own private market for the cryptocurrency.

For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory. Unfortunately, seems like there is no data available for AdCoin because of coin inactivity. Get huge savings on the biggest crypto brands with custom discounts & deals. The founder of Slync, a supply-chain management software startup, was indicted for defrauding investors out of at least $25 million. A second attorney and two tax professionals have been indicted in the $1 billion Garza tax shelter scheme. One of the developers who’s helping with BitQyck’s launch is Mark Hopkins, who’s the founder of Roger Wilco, a content marketing firm.

What is bitqy?

When District House — his wood-fire restaurant and tap room at 220 Harrison St. in Oak Park opens in mid-February — he said he’ll accept cryptocurrency there too. However, collectively the investors lost much more than this as the value of the token plummeted from $0.09 shortly after launch $0.0009 just a year later. The founders were also accused of operating an unregistered exchange while raising $13 million from a token sale , $10 million of which the SEC has taken back as part of the settlement. About nine months after launching Bitqy, Bise and Mendez began marketing another token, BitqyM, arbitrarily priced at $1.

The pair also falsely claimed that BitqyM tokens provided an interest in a Bitqyck crypto mining facility powered by reduced-rate electricity. Bitqyck is also alleged to have illegally operated TradeBQ, an unregistered security exchange offering trading in a single security – Bitqy. Bitqyck offers “daily deals” to consumers through the bitqyck e-commerce platform while embracing cryptocurrency. By incorporating cryptocurrency within the marketplace platform bitqyck is able to more securely, quickly, and without third-party sites transfer the value of the goods and the currency. Bitqyck is a marketplace offering “daily deals” to consumers through the bitqyck e-commerce platform while embracing cryptocurrency.

Market data is untracked

You can become an affiliate for Bitqyck, then make money by referring new members to the business. That e-commerce platform will be targeted to restaurants, bars, and stores in your city. There are very few details about the company available online. We know very little about the company’s products and services, for example. Bitqyck is a platform that promises to transform digital commerce using the power of the blockchain.

• The only shares of Bitqyck common stock were issued to Bise and Mendez, who collectively owned 100% of it.
• There are very few details about the company available online.
• Monoeci (XMCC) cryptocurrency is marked as ‘Untracked’ because of inactivity or insufficient amount of data.
• The company was founded by Sam Mendez, who is listed as a co-founder on the Bitqyck website.

The cryptocurrency’s market Price changes in percent within the last 24 hours (1 day). A San Angelo tax preparer whose fraudulent tax returns cost the IRS millions of dollars was sentenced today to 14 years in federal prison; his adult son and daughter were sentenced… According to plea papers, Mr. Bise and Mr. Mendez admitted that Bitqyck raised approximately $24 million from more than 13,000 investors. Instead of fulfilling their promises to these investors, the defendants used Bitqyck funds on personal expenses, including casino trips, cars, luxury home furnishings, art, and rent.