Eleonidas950

@eleonidas950

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Prosecutors allege Saavedra secured a search warrant in January 2022 under false pretenses, claiming the target was involved in a firearms investigation. Saavedra provided the victim’s location to Iza, who sent armed individuals to break into the victim’s home.

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The attempt failed when the victim fired a warning shot, after which Iza reportedly sent the victim a video of the botched robbery.

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Prosecutors outlined several other violent acts linked to the scheme.

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In August 2021, LASD deputies allegedly held a victim at gunpoint at Iza’s residence, forcing a $25,000 bank transfer. In October 2021, Iza personally coerced another victim into transferring $127,000 while holding them at gunpoint.

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Saavedra also operated a private security firm, Saavedra & Associates LLC, which employed off-duty deputies. Iza reportedly paid $100,000 monthly between 2021 and 2024 for round-the-clock security.

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Beyond the alleged extortion racket, Iza’s operations extended to financial fraud. Between 2020 and 2022, he is accused of defrauding Meta Platforms Inc., stealing over $37 million by accessing business accounts and associated credit lines.

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The Department of Justice announced the plea agreements on Jan. 17, stating that Adam Iza, 24, who dubbed himself the “crypto godfather,” founder of the Zort crypto trading platform, orchestrated a scheme involving intimidation, extortion, and fraud.

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Iza, who has been in federal custody since September 2024, could face up to 35 years in prison. Saavedra, who resigned from LASD, faces up to 13 years. Both are expected to appear in federal court in Los Angeles in the coming days.

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Both Iza and Saavedra also admitted to federal tax crimes. Iza allegedly evaded $6.7 million in taxes for 2021, while Saavedra failed to report $373,146 in income.

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“The conduct admitted to in these plea agreements is deeply disturbing and cannot be tolerated,” said US Attorney Martin Estrada. “I am grateful for the cooperation of Sheriff Robert Luna and the Los Angeles County Sheriff’s Department in working with our office to root out corruption and uphold civil rights.”

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“The conduct admitted to in these plea agreements is deeply disturbing and cannot be tolerated,” said US Attorney Martin Estrada. “I am grateful for the cooperation of Sheriff Robert Luna and the Los Angeles County Sheriff’s Department in working with our office to root out corruption and uphold civil rights.”

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Iza, who has been in federal custody since September 2024, could face up to 35 years in prison. Saavedra, who resigned from LASD, faces up to 13 years. Both are expected to appear in federal court in Los Angeles in the coming days.

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Both Iza and Saavedra also admitted to federal tax crimes. Iza allegedly evaded $6.7 million in taxes for 2021, while Saavedra failed to report $373,146 in income.

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Bad crypto typically has a messianic leader and a flock. Yet, this power dynamic is unsustainable and contradicts why crypto was created in the first place — to give people a voice in governance.

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DAOs are already changing the face of decentralized finance. Uniswap DAO has been working toward expanding its $6 billion treasury — a treasury that uses its DAO to vote on what it should do with the capital. Although this technology currently has a novel use case, its application also has the power to change how we view money and who can access it.

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emilymiller08177

@emilymiller08177

The best option is to take measured steps to develop community-driven infrastructures and systems like community coins. It is time for the industry to give power back to the community.

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Ether is poised to perform especially well in 2025, significantly outperforming Bitcoin, Steno said. In 2025, Steno expects the ETH/BTC ratio to hit “at least 0.06”. That is nearly double the current level of around 0.035, according to TradingView.

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This will usher in a broader alternative cryptocurrency — or “altcoin” — season in 2025, with Bitcoin dominance dropping from its current levels of nearly 57% to around 45%, according to the report.

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Steno’s prediction is “partly based on the argument that Donald Trump’s U.S. presidential victory is more favorable for altcoins than for Bitcoin.”

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Trump’s presidency “encourages more robust onchain activity, which benefits altcoins such as Ethereum and Solana significantly,” Steno said.

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