Fake LinkedIn Crypto Job Scams Have Cost $11.8M: Singapore
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A man was convicted of smuggling himself into Myawaddy and other parts of Myanmar to participate in telecom fraud, inducing victims to invest in cryptocurrencies.
Odaily Odaily reported yesterday that the Baoshan District Procuratorate in Shanghai announced a case in which the defendant, Huang, illegally crossed the border to participate in telecommunications fraud. He lured victims into investing in cryptocurrencies, and after the disbandment of his operation in Myawaddy, Myanmar, he continued to participate in "pig butchering" scams. Using AI face-swapping and foreign models to communicate, he gained the trust of victims and guided them to invest in cryptocurrency. Subsequently, a team leader would connect them with the victims, inducing them to register, deposit, and invest on fake websites. He was ultimately sentenced to two years and six months in prison for fraud and fined 30,000 yuan. (CCTV News)
A Florida man pleaded guilty to a cryptocurrency scam that cost investors over $250 million.
According to ChainCatcher, citing The Block, Christopher Alexander Delgado, a 34-year-old Florida man, pleaded guilty to wire fraud, conspiracy to commit fraud, and money laundering. His company, Goliath Ventures, ran a Ponzi scheme under the guise of cryptocurrency liquidity pool investments, absorbing over $400 million from investors and causing losses of at least $250 million. The funds were used to purchase six luxury homes worth between $1.15 million and $8.5 million, multiple Lamborghinis and Rolls-Royces, as well as numerous Rolex watches, Louis Vuitton bags, and custom Tiffany jewelry. Delgado has agreed to forfeit eight properties, 11 cars, 30 watches, over 50 luxury bags, and 29 pieces of jewelry. Each fraud charge carries a maximum sentence of 20 years in prison, and the money laundering charge carries a maximum sentence of 10 years in prison.
The CFTC has charged a North Carolina man with a $14 million cryptocurrency and futures fraud.
According to Odaily Odaily, the U.S. CFTC has filed a lawsuit against Trevor Vernon, a North Carolina man, and his company, Argent Capital Management LLC, accusing them of defrauding approximately 60 investors of $14 million through a fake commodity Ponzi scheme. According to a complaint filed Tuesday in the U.S. District Court for the Western District of North Carolina, Vernon and his company operated commodity pools involved in trading across multiple asset classes, including stock index futures options, stock index futures contracts, and crypto assets. The CFTC stated that Vernon misled investors by claiming to be a "successful trader" through quarterly financial updates and monthly performance review emails, but in reality, he consistently incurred significant losses when using investor funds for trading. Regulators said Vernon had lost at least $8.6 million in futures, options, and crypto trading. The CFTC stated that its actual trading results were "consistent and catastrophic losses," significantly inconsistent with the profitability it presented to investors.
The U.S. SEC released a statement on its 2026 regulatory agenda: promoting the trading of tokenized securities and advancing the development of crypto rules.
According to Odaily Odaily, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins released a statement regarding the 2026 regulatory agenda, indicating that the SEC will continue to advance a series of regulatory reforms, including adapting the regulatory framework to the current market environment, actively embracing innovation and new technologies, implementing President Trump's goal of "making America the global crypto capital," promoting the launch of more crypto-related products in the U.S. market, establishing clear rules for crypto asset financing, and clarifying the on-chain custody of market participants and promoting on-chain tokenized securities trading. Regarding capital market reforms, the U.S. SEC will advance its "Make IPOs Great Again" initiative, which aims to encourage more companies to enter the public market by reforming information disclosure systems and reducing compliance costs for companies seeking to go public, while maintaining necessary investor protection measures.
Vanguard Group publicly advertised for a head of digital assets, having explicitly stated that crypto assets were inconsistent with its long-term investment philosophy.
According to Mars Finance, Vanguard Group is hiring a Head of Digital Assets for its Personal Wealth business. The job requirements include over 10 years of relevant experience, a deep understanding of digital assets (tokenization, stablecoins, custody, settlement, etc.), and innovation and risk management capabilities in a regulatory environment. This position will be responsible for developing Vanguard's strategy, roadmap, and implementation in the digital asset space, including assessing digital asset capabilities, product development, operating models, and cross-functional collaboration with product, technology, operations, risk, legal, and compliance departments. It will also require representing Vanguard in external communications with industry players, regulators, and clients. It is understood that Vanguard began allowing brokerage clients to trade crypto ETFs and mutual funds last December, but the company has explicitly stated that it has no plans to launch its own crypto investment products, believing that digital assets are still inconsistent with its long-term investment philosophy.
Microsoft is laying off 4,800 employees, with Xbox accounting for approximately 3,200 of the job cuts.
According to Mars Finance, Microsoft announced it will cut 4,800 jobs, approximately 2.1% of its global workforce. The Xbox gaming division is the hardest hit, with 1,600 jobs laid off on July 6th and another 1,600 expected to be cut this fiscal year, totaling about 3,200 positions. Asha Sharma, who took over as Xbox CEO in February, admitted to employees that the business is currently unhealthy, stating that Xbox's profit margin is three to ten times lower than comparable platforms and publishing businesses, and rising component costs have intensified competition with Sony's PlayStation and Nintendo's Switch. Microsoft will also spin off four previously acquired studios: Compulsion Games and Double Fine will operate independently, while Ninja Theory and Undead Labs will be transferred to new owners, partially reversing the gaming empire built three years ago with its $69 billion acquisition of Activision Blizzard. Chief People Officer Amy Coleman stated that the company launched a buyout program in April, and over one-third of eligible employees accepted. Microsoft's stock price has fallen by about 19% in the past six months.