Crypto
A Miami crypto venture, a crash, a gambling addiction — and now jail time
The founder of a cryptocurrency token business in Miami has been sentenced to 27 months in prison for committing wire fraud during the last crypto boom and ordered to pay victims $1.14 million.
Austin Michael Taylor, 41, founded CluCoin, a cryptocurrency project, which held a successful Initial Coin Offering in May 2021. An ICO, like an IPO for traditional businesses, is where capital is obtained from investors and others through trading their more established cryptocurrency for a new digital token.
But CluCoin proceeded to crash, losing value. The firm subsequently pivoted to other business ventures, which failed. Finally, Taylor developed a gambling addiction, and he lost his investors’ money at online casinos.
The sentence, handed down Feb. 14 in Miami by U.S. District Judge Jacqueline Becerra, is specific to one count of wire fraud and was in line with the punishment requested by the U.S. Attorney’s Office for the Southern District of Florida. It comes after Taylor pleaded guilty in August 2024 in Miami federal court. After jail time, Taylor will have to spend three years of supervised release.
More than jail
Judge Becerra imposed additional conditions. Taylor cannot “apply for, solicit or incur any further debt, included but not limited to loans, lines of credit or credit card charges, either as a principal or cosigner” without first getting approval from the U.S. probation officer. He must also enter a treatment program for his gambling addiction and pay for it.
Victims of CluCoin’s shenanigans were not named in publicly available court documents. But the U.S. Attorney’s Office wrote in its sentencing request that there were “hundreds of investors.” It already contacted them, it said. Still, anyone who invested in CluCoin, believes they are a victim and/or received an NFT is asked contact the FBI and visit fbi.gov/CluCoinInvestors.
CluCoin’s early days
During the early days of the pandemic, Taylor, a computer programmer from Maryland, developed a large internet following by giving away money and prizes. Beginning in May 2021, he “leveraged this following to begin soliciting investments in his new cryptocurrency,” a court filing in August 2024 describing his guilty plea said.
The cryptocurrency was initially called CluShare but then changed its name to CluCoin. He had a popular X account, where he went by @DNPThree. As of Feb. 16, the account was still open with over half a million followers.
In 2021, Taylor announced he’d hold an Initial Coin Offering for CluCoin. “During this ICO, anyone could become a CluCoin coin holder by sending more established cryptocurrency to a cryptocurrency address associated with the Defendant,” a court document said.
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He also published a white paper — a mini-research paper in the business world — which would serve as his investment prospectus, a guide to what investors should expect from the company. In it, he said one of the company’s main goals was to “provide ongoing income for charitable projects deemed appropriate for support by our community” of CluCoin coin holders.
He also assured potential investors “that while a portion of the funds would flow to a developer cryptocurrency address that defendant controlled, he’d use funds consistent with the white paper.”
CluCoin held a successful ICO on May 19, 2021, “during which investors sent millions of dollars’ worth of more established cryptocurrency to a cryptocurrency address affiliated with CluCoin project.” That was in exchange for “newly issued CluCoin digital tokens.”
CluCoin’s price rose, and in early June 2021, Taylor incorporated CLU LLC in Aventura.
South Florida was hot
This happened during a time when Miami not only experienced a tech boom but became an epicenter for crypto companies and entrepreneurs, who moved to the region from all over the country and world. Local officials got into the act, too. The Miami Heat’s bayfront arena was renamed FTX Arena in a $135 million deal inked in 2021 with Miami-Dade County. FTX was then a high-flying crypto trading exchange.
Miami City Mayor Francis Suarez also became a big champion of crypto.
The bust
Crypto’s winter came fast.
In 2022, FTX failed and filed for bankruptcy. Last year, its former CEO, Sam Bankman-Fried, was convicted of seven counts of wire fraud and sentenced to 25 years in prison.
In April 2023, MiamiCoin, one of the ventures Suarez promoted, had its trading suspended after encountering liquidity issues. Neither the city nor Suarez created MiamiCoin, but they did push it.
More than a year earlier, CluCoin’s value and trading volume had already “declined precipitously.”
At that time, Taylor told people he would shift away from funding charities and “would instead focus on multiple potentially profitable online business ventures.”
That included creating NFTs, or nonfungible tokens, going into the Metaverse and launching a computer game called Xenia. Crypto was still going strong in Miami.
In April 2022, he organized a conference at a Miami hotel called “NFTCon: Into the Metaverse.” He considered it a way to try to regain trust, meeting people face-to-face.
Yet, there was something attendees weren’t told.
“While the defendant was managing Clu and making representations to potential and existing investors about its Activities, he was secretly succumbing to a gambling addiction,” the plea agreement said.
“Government cryptocurrency tracing showed that almost immediately, and continuing through December 2022, defendant routinely transferred funds that he had told investors he would use for CLU ventures out of this address to his personal cryptocurrency exchange account,” the court document said. “And then from that account to multiple online casinos, where the Defendant lost the funds gambling.” About $1.14 million was transferred between May and December 2022.
In January 2023, he publicly admitted this to his investors and followers. He ceded control of his company to his business associates.
U.S. Attorney Manolo Reboso prosecuted the case. Assistant U.S. Attorney Emily Stone is in charge of asset forfeiture. Taylor’s plea agreement in August was signed off on by the then top U.S. attorney for the region, Markenzy Lapointe, who stepped down in January before President Donald Trump took office.
Crypto
BitGW Expands Global Ecosystem by Seeking Affiliate Partners Worldwide
NEW YORK, March 09, 2026 (GLOBE NEWSWIRE) — As the cryptocurrency industry continues to grow globally, digital asset platforms are increasingly turning to community partnerships to accelerate adoption. BitGW, a global cryptocurrency exchange focused on secure and compliant crypto trading, is actively seeking affiliate partners as part of its ongoing efforts to expand its global ecosystem and connect with new audiences.
Founded in 2023, BitGW has positioned itself as a technology-driven digital asset trading platform serving users across multiple regions. With a remote-first operating model and an international team, the exchange has developed an infrastructure designed to support the borderless nature of the cryptocurrency market. As the platform continues to grow, BitGW is now inviting affiliates from across the crypto industry to participate in promoting the platform and contributing to the expansion of its trading ecosystem.
The company is currently looking for a wide range of affiliate partners, including cryptocurrency influencers, trading educators, digital media outlets, blockchain communities, and independent content creators. By collaborating with these partners, BitGW aims to strengthen connections with the global crypto community while expanding awareness of its platform and services.
Affiliate partners will play an important role in introducing BitGW to new users and communities. Through content creation, educational resources, market insights, and community engagement, affiliates can help promote the platform and highlight its features to audiences interested in cryptocurrency trading and digital assets. The Affiliate Program provides additional information for potential partners interested in participating in the initiative.
In recent years, affiliate partnerships have become a key growth channel for many digital asset platforms. Influencers, analysts, and specialized crypto media often serve as trusted sources of information for both new and experienced traders. By working closely with these voices, exchanges can better reach audiences who are actively engaged in the evolving Web3 ecosystem.
BitGW believes that collaboration with affiliates can help strengthen the overall crypto ecosystem by encouraging greater participation and education within the industry. Through partnerships with creators and community leaders, the platform hopes to support broader awareness of digital asset trading while building stronger connections between the exchange and the global cryptocurrency community.
The affiliate initiative is also part of BitGW’s broader strategy to expand its international presence. While the program is initially available in selected regions, the company plans to continue exploring additional partnership opportunities as its global footprint grows.
As cryptocurrency markets continue to evolve, community-driven growth is becoming an increasingly important factor for platforms seeking long-term development. By inviting affiliates from across the digital asset industry to join its network, BitGW aims to build a collaborative ecosystem where creators, communities, and trading platforms can grow together.
Through this initiative, BitGW is encouraging interested affiliates, media platforms, and crypto influencers to explore partnership opportunities and take part in promoting the next phase of digital asset adoption.
CONTACT:
Website: https://www.bitgw.com
Contact Person: Marcellino
Email: Support@bitgw.com
Company Name: BITGW CO., LTD
Disclaimer: This content is provided by BITGW CO., LTD. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
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Crypto
Here’s Why Bitcoin Price Must Not Fall To $54K: Analyst
Over the past few days, the Bitcoin price has had one of its better performances so far in the first quarter of 2026. Catalyzed by the rising geopolitical tensions between US-Isreal and Iran, the premier cryptocurrency climbed to $74,000 over the past week.
However, the Bitcoin price did not take long before retreating back below the psychological $70,000 level, confirming that the latest rally was merely a relief. With the bearish market structure still in place, it remains to be seen how low the price of BTC will go in its current phase.
$70 Million Worth Of Longs At Risk Of Liquidation
In a new post on the social media platform X, crypto analyst Ali Martinez revealed why a further decline to around $54,000 in the remaining period of this phase is possible and could be bad news for both investors and the Bitcoin price. Hence, the $54,000 mark could be an extremely pivotal region for the flagship cryptocurrency in this bear market.
Martinez’s evaluation revolves around the Aggregated Liquidation Levels Heatmap metric, which visualizes price zones with high concentrations of long or short liquidations. As expected, the red (hot) color on the map signifies a concentrated liquidation point of several high-leverage positions, often with high liquidity.
These high-liquidity spots often have a somewhat magnetic effect, with prices often drawn to them. According to Martinez, this “hot” zone for the Bitcoin price lies around the $54,000 mark, with over $70 million worth of long positions at risk of liquidation.
Ordinarily, a Bitcoin price drop to around $54,000 would do extra damage to the already low market sentiment. Meanwhile, from a technical perspective, the significant liquidation cascade likely to occur at that level could lead to a phenomenon called a “Long Squeeze,” where the flagship cryptocurrency continues its decline with renewed momentum.
For clarity, a Long Squeeze typically occurs when the falling price of a cryptocurrency (in this case, Bitcoin) forces bull traders to sell their assets either to cut losses or to break even. This sell-off catalyzes the ongoing bearish reaction and sends the BTC price further downwards.
Ultimately, the $54,000 region, which is also around the realized price, appears to be one of the most critical levels for the Bitcoin price trajectory over the next few months.
Bitcoin Price At A Glance
As of this writing, the price of BTC stands at around $67,830, reflecting an over 4% decline in the past 24 hours. Since reaching its one-month high around $74,000 on Wednesday, March 4, the premier cryptocurrency has retraced by nearly 10%.
Crypto
Analysts Predict Conservative XRP Price If It Follows 2017 Run
XRP is at the center of ultra-bullish calls after two crypto commentators pointed to a 2017-style fractal as the basis for a major breakout. The latest discussion started with analyst CryptoBull, who predicted that the XRP price is on track for $10 to $11 by the end of March if its price action continues to follow its 2017 structure.
That outlook then led to a much bigger response from Remi Relief, who said his own conservative target for this cycle is four digits between $1,200 and $1,700.
CryptoBull’s Fractal Call To Double Digits
CryptoBull’s prediction is built around a familiar XRP talking point: that the cryptocurrency is tracing a structure similar to its 2017 breakout. A 2017 comparison is one of the strongest bullish narratives available for the crypto because it points to the one period in XRP’s history when price moved from relative quiet into a parabolic run in a short time period.
In his technical analysis, CryptoBull said he now believes XRP is following the 2017 fractal and that this setup could take the cryptocurrency to $10-$11 by the end of March, adding that he expected six more days sideways before a push higher.
The chart attached to that post shows XRP moving through a flat, compressed range under a horizontal resistance zone on the daily candlestick chart, with the green fractal path projecting a rally once that resistance is broken.
The structure is simple enough to explain: long consolidation, breakout through resistance, brief pause, then a vertical continuation. In other words, the chart is not presenting a slow grind upward like you might expect considering XRP’s recent price action. It is presenting a replay of XRP’s most explosive behavior back in 2017.
XRP Price Chart. Source: @CryptoBull2020 On X
Remi Relief Takes The Same Setup To An Extreme
Remi Relief took that same broad idea and pushed it far above CryptoBull’s target. In his response, he said that in 2024 he had already stated XRP would follow the 2017 run and go to $1,200 conservatively in this cycle. The move was delayed, although this is something he warned about back in June 2025 and after revising his thinking, his target range became $1,200 to $1,700.
CryptoBull’s $10 to $11 call is already a massive move from current levels, but it still sits within the realm of numbers that are possible based on XRP’s current circulating supply. A $10 price would imply a market capitalization of about $610 billion, and $11 would imply about $671 billion. On the other hand, a move to $1,200 would imply about $73.2 trillion, while $1,700 would imply about $103.7 trillion in market cap.
The real significance of these predictions may not be whether XRP actually reaches four-digit prices. It may be what they say about sentiment among XRP traders right now. At the time of writing, XRP is trading around $1.37, with an intraday range of $1.35 to $1.41. This shows that the cryptocurrency is far below the predicted price levels. However, there are many traders with an ultra-bullish bias who are still willing to rally around any setup that resembles 2017.
Featured image from Shutterstock, chart from TradingView
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