An Oklahoma resident landed five years behind bars for playing a leading role in a $9.4 million crypto investment scheme, the U.S. Department of Justice (DOJ) announced on November 14. Oklahoma Man Gets Prison Time for Crypto Scheme Travis Ford, the co-founder and CEO of Wolf Capital Crypto Trading LLC, was sentenced to 60 months in prison on Friday for the investment fraud conspiracy. According to the Justice Department, Ford raised $9.4 million from 2,800 investors through “fraudulent conduct.” In addition, Ford has been ordered to pay $1 million in forfeiture and $170,000 in restitution. Travis Ford Faces the Music for Crypto Fraud The Wolf Capital CEO originally pleaded guilty to one count of conspiracy to commit wire fraud back in January of this year. From January 2023 through August 2023, Ford “solicited investments” for the crypto scheme via his company’s website and other “social media and internet-based promotion activities.” Ford fraudulently promised investors he could deliver returns of 1-2% per day, equivalent to 547% per year. According to court documents, Ford made himself out to be a “sophisticated trader” as he “publicly stood behind Wolf Capital.” In reality, court records indicate that Wolf Capital was not “obtaining such returns” but was actually “losing investor money,” despite the crypto company’s claims. “Ford and his co-conspirators allegedly made such false promises to induce members of the public to invest money in the company,” the press release states. “Ford then misappropriated and diverted investor funds to benefit himself and his co-conspirators, to the financial detriment of investors,” the document continues. As part of his guilty plea, Ford ultimately admitted that he did not believe it was possible to achieve the amount of returns he purportedAn Oklahoma resident landed five years behind bars for playing a leading role in a $9.4 million crypto investment scheme, the U.S. Department of Justice (DOJ) announced on November 14. Oklahoma Man Gets Prison Time for Crypto Scheme Travis Ford, the co-founder and CEO of Wolf Capital Crypto Trading LLC, was sentenced to 60 months in prison on Friday for the investment fraud conspiracy. According to the Justice Department, Ford raised $9.4 million from 2,800 investors through “fraudulent conduct.” In addition, Ford has been ordered to pay $1 million in forfeiture and $170,000 in restitution. Travis Ford Faces the Music for Crypto Fraud The Wolf Capital CEO originally pleaded guilty to one count of conspiracy to commit wire fraud back in January of this year. From January 2023 through August 2023, Ford “solicited investments” for the crypto scheme via his company’s website and other “social media and internet-based promotion activities.” Ford fraudulently promised investors he could deliver returns of 1-2% per day, equivalent to 547% per year. According to court documents, Ford made himself out to be a “sophisticated trader” as he “publicly stood behind Wolf Capital.” In reality, court records indicate that Wolf Capital was not “obtaining such returns” but was actually “losing investor money,” despite the crypto company’s claims. “Ford and his co-conspirators allegedly made such false promises to induce members of the public to invest money in the company,” the press release states. “Ford then misappropriated and diverted investor funds to benefit himself and his co-conspirators, to the financial detriment of investors,” the document continues. As part of his guilty plea, Ford ultimately admitted that he did not believe it was possible to achieve the amount of returns he purported

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more