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CFTC Uses Basic Deductive Reasoning To Charge Staten Island-Based Crypto Trading Firm Named CabbageTech With Fraud

This is what regulators call "A layup."

While it's nice to see that regulators are attempting to at least look like they're doing something about crypto trading, this one feels like the government trying to fight against the power of Darwinism...

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The U.S. Commodity Futures Trading Commission announced Friday it charged Patrick K. McDonnell and his company CabbageTech with "fraud and misappropriation in connection with purchases and trading of Bitcoin and Litecoin."
Based just outside Manhattan, in Staten Island, New York, CabbageTech operated under the name "Coin Drop Markets." Since around January 2017, the company promised customers real-time trading advice but never provided it and essentially disappeared after receiving payment, the complaint said.

Crime is bad, but if you're one of the people out there saying "Hey, I think that Staten Island-based Bitcoin trading platform named after gross lettuce stole the money I gave to them," perhaps you shouldn't have money in the first place.

Enjoy your weekend, rubes.

Staten Island-based 'CabbageTech' charged with bitcoin-related fraud after promising 300% returns in a week [CNBC]


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