John McAfee arrested on tax evasion charges, and 75 crypto exchanges shut down in 2020
John McAfee arrested in Spain on tax evasion charges
John McAfee was arrested in Spain on tax evasion charges, according to the US Department of Justice.
He will be extradited to the United States. The businessman faces more than five years in prison on the charges brought against him.
On the same day that McAfee was detained, the US Securities and Exchange Commission (SEC) sued him for promoting initial coin offerings (ICOs). The businessman allegedly misled investors by not saying that he was receiving money for advertising projects.
According to the SEC, McAfee received over $11.6 million worth of BTC and ETH for promoting seven ICOs in 2017 and 2018. He also raised $11.5 million in promotions.
John McAfee got a lot of fame in the cryptosphere after promising to “eat his own dick” if bitcoin does not rise to $ 1 million by 2021. Later, the founder of the McAfee antivirus said that “only an idiot would believe” in this prediction. At the moment, McAfee’s Twitter has more than 1 million subscribers.
75 crypto exchanges closed in 2020
Analytical portal Cryptowisser reports. Basically, the list includes centralized sites.
Compared to last year, the figure is up 56% and “there are no signs of decline.” While the crypto industry continues to show impressive growth, the cryptocurrency exchange industry is facing high competition and regulatory requirements, analysts write.
According to the report, exchanges are most often closed on their own, due to hacks or at the request of the authorities. The positions of centralized exchangers have also been hit hard by the development of decentralized exchanges.
“For a new centralized exchange to flourish, it will likely need to have some form of unique edge that is not already on the market today,” notes Cryptowisser.