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lennysolarski -VALAnaut 👽

@lennysolarski

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In Moscow, Vladimir Smerkis - co-founder of Blum games was arrested The Zamoskvoretsky Court in Moscow has approved an arrest warrant for the former head of the CIS Binance exchange and co-founder of Blum games, Vladimir Smerkis, in connection with a criminal case of large-scale fraud. The arrest may be related to projects of previous years, in which customers lost at least $ 15 million. In 2017, he founded The Token Fund - one of the first cryptocurrency investment funds. Here, investors bought internal tokens TKN with real cryptocurrency, and in return received a promise to increase the amount. The project attracted eight million dollars in investments, earned more from the growth of the cryptocurrency, and abruptly closed in 2018. Customers did not receive the money Smerkis' next project -Tokenbox. Having received $7 million in investment, the TBX token was traded on two exchanges, almost immediately losing value and disappearing into thin air. On May 16, Vladimir Smerkis was arrested on fraud charges
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Pi Network (PI) is facing increasing bearish pressure as technical indicators and community sentiment turn negative. Despite a recent 23% gain, PI has dropped 44% in just four days, falling below $1 amid backlash over the launch of its $100 million fund. Indicators like the Ichimoku Cloud and BBTrend show waning momentum, with no reversal in sight. The chart shows ongoing weakness, with short-term momentum remaining bearish. The BBTrend indicator has fallen sharply, suggesting a possible transition into an accumulation phase or a reversal. Market sentiment is severe following the launch of the Pi Network Ventures fund, with many criticizing the project for unfulfilled promises. Technical indicators support a bearish outlook, with further declines likely if key support levels are broken. Investors are advised to exercise caution and conduct thorough research before making any investment.
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