Thursday, July 25, 2024

In a recent turn of events, cryptocurrency influencer Ben “Bitboy” Armstrong was taken into custody while broadcasting live, attempting to recover his purportedly stolen Lamborghini. In other significant updates this week, ‘Rich Dad Poor Dad’ author Robert Kiyosaki has urged investors to buy Bitcoin before an impending market downturn. Additionally, several U.S. lawmakers have formally requested SEC Chair Gary Gensler to expedite the approval of spot Bitcoin exchange-traded products. Here is a comprehensive recap of this week’s leading news, brought to you by

Ben Armstrong, Known as Bitboy, Arrested Amid Livestream Regarding Allegedly Stolen Luxury Vehicle

Ben “Bitboy” Armstrong, a well-known figure in the cryptocurrency realm, was reportedly taken into custody during a live broadcast that documented his attempt to confront a past business associate. Video segments extracted from the YouTube livestream and shared across social media platforms display Armstrong explaining the motivations behind his actions, specifically relating to the supposed theft of his Lamborghini.

British Legal Firm to File Lawsuit Against Onecoin’s ‘Cryptoqueen’ Ruja Ignatova to Recover Investor Capital

A law firm based in London is in the process of drafting a lawsuit against the elusive architect of the Onecoin cryptocurrency pyramid, known as ‘Cryptoqueen’ Ruja Ignatova. Reports from British media outlets indicate that the firm’s legal team is planning to initiate a collective action in the United Kingdom’s High Court.

Robert Kiyosaki Recommends Immediate Bitcoin Investment — Anticipates Market Surge for BTC Amid Stock, Bond, and Real Estate Decline

Renowned author of ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has recommended immediate investment in Bitcoin, particularly before potential crashes in the stock, bond, and real estate markets. Kiyosaki has gone on record, forecasting that Bitcoin’s price will escalate to $500,000 by the year 2025. Concurrently, he predicts that the prices of gold and silver will reach $5,000 and $500, respectively. Moreover, he envisions Bitcoin reaching the $1 million mark if there is a global economic meltdown.

U.S. Legislators Call for Speedy Approval of Spot Bitcoin ETFs, Citing No Grounds for Application Rejections

A quartet of U.S. legislators have formally appealed to the U.S. Securities and Exchange Commission (SEC) for the swift sanctioning of spot Bitcoin exchange-traded products (ETPs). In light of a recent appellate court decision, the lawmakers argue that there is no justifiable reason to keep rejecting such applications. They stated, “We urge you to approve the listing of spot bitcoin ETPs immediately,” in their communication to SEC Chair Gary Gensler.

What are your perspectives on these headline-grabbing stories of the week? Specifically, how do you interpret Bitboy’s conduct when confronted by the authorities during his livestream? Please share your views in the comments section below.

Frequently Asked Questions (FAQs) about Cryptocurrency News

Q: Who is Bitboy, and why was he arrested during a livestream?

A: Bitboy, also known as Ben Armstrong, is a prominent figure in the cryptocurrency space. He was arrested during a livestream while attempting to confront a former business partner. The arrest was related to the alleged theft of his Lamborghini, and the incident was documented in the livestream.

Q: What is the Onecoin crypto pyramid scheme, and why is a law firm suing its mastermind?

A: The Onecoin crypto pyramid scheme was a fraudulent cryptocurrency scheme orchestrated by ‘Cryptoqueen’ Ruja Ignatova. A London-based law firm is pursuing legal action to recover investor funds lost in this scheme by filing a class action lawsuit in the UK’s High Court against Ruja Ignatova.

Q: What investment advice did Robert Kiyosaki provide regarding Bitcoin?

A: Robert Kiyosaki, author of ‘Rich Dad Poor Dad,’ advised investors to buy Bitcoin before potential market downturns in stocks, bonds, and real estate. He predicts that Bitcoin’s price could reach $500,000 by 2025 and even higher in the event of a global economic crisis.

Q: Why are U.S. lawmakers urging the SEC to approve spot Bitcoin exchange-traded products?

A: Four U.S. lawmakers are pressing the U.S. Securities and Exchange Commission (SEC) to promptly approve spot Bitcoin exchange-traded funds (ETFs). They argue that following a recent court decision, there are no justifiable reasons for denying these applications, and they are advocating for their immediate approval.

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