Crypto
Bonk (BONK) millionaire sells huge stake for a new cryptocurrency priced at $0.09, cites 100x potential | Finbold
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A notorious crypto millionaire known for his early investment in the memecoin Bonk (BONK) has recently sold a large portion of his holdings, citing a new cryptocurrency project called Retik Finance as having superior 100x upside potential despite its current $0.09 price tag. This Bonk whale pocketed life-changing wealth from BONK’s viral explosion in 2023 which he is now redeploying into Retik’s offerings including crypto debit cards, a multi-chain wallet, and P2P lending. The mega investor is now buying Retik at the earliest stage possible before anticipated 10,000% gains occur as adoption accelerates.
Retik Finance: The Next Big Player in Crypto Payments and Finance
Retik Finance has entered the cryptocurrency arena, offering a suite of decentralized finance (DeFi) solutions, including crypto debit cards, a payment gateway, lending services, and more. With crypto debit cards providing up to 5% cash back without KYC requirements, Retik is positioned to disrupt the payments industry currently dominated by traditional players.
The crypto payments sector is still in its early stages but is expanding rapidly. In 2021, $15.8 billion was spent via crypto payment cards, and this figure is forecast to surge to over $100 billion by 2026. Retik is launching at an opportune juncture to capture significant market share in this burgeoning industry. Some key strengths Retik brings to the table include privacy-focused crypto debit cards not necessitating KYC, an up to 5% cashback rewards program, support for top blockchains like Ethereum, a payment gateway for merchants to seamlessly accept crypto payments, and a suite of DeFi solutions beyond just payments like lending and trading. With over $13 million accumulated so far in their presale, Retik has the financial capability to execute its vision and drive mass adoption of crypto payments. The Retik token (RETIK) fuels the Retik ecosystem, powering its various DeFi offerings. Ideally, the presale pricing provides a 100x upside potential if Retik achieves its goal of listing on top exchanges. This presents a lucrative entry point for investors looking to get in early on a project with major growth prospects.
How Does Retik Finance Compare to Bonk (BONK)?
Bonk (BONK) is a memecoin that has recently gained traction within the crypto community. It runs on the Solana blockchain and has demonstrated substantial price volatility since its launch, as is common among meme-inspired tokens. While Bonk has enjoyed speculator interest, Retik Finance targets more practical real-world use cases for cryptocurrency-related to payments, financing, and banking solutions. As a usable platform versus a hype-driven meme asset, Retik may appeal to investors looking for fundamental utility and product-market fit over social media-fueled manias. With the growth projections for crypto payments and DeFi, Retik Finance’s offerings could potentially capture a significant share of these emerging industries. Memecoins tend to be more ephemeral, whereas Retik reflects robust tokenomics backing tangible financial products and services. For speculators chasing the next viral memecoin, Bonk warrants consideration. But for investors valuing sustainability, Retik’s ecosystem for driving cryptocurrency adoption in payments, lending, and banking presents an attractive upside in high-growth sectors.
The Bottom Line
Retik Finance provides crypto debit cards, payment solutions, and lending services aimed at propelling real-world crypto adoption. With strong tokenomics and diverse DeFi offerings beyond just payments, Retik is gearing up to secure a significant market share in this exponentially expanding domain. For investors, obtaining exposure early during the presale event could prove to be a lucrative opportunity if adoption continues to accelerate. With crypto payments expected to surpass $100 billion by 2026, Retik Finance has robust tailwinds supporting its mission to reform global transactions.
Click Here To Take Part In Retik Finance Presale
Visit the links below for more information about Retik Finance (RETIK):
Website: https://retik.com
Whitepaper: https://retik.com/retik-whitepaper.pdf
Linktree: https://linktr.ee/retikfinance
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced on Thursday to 15 years in prison for for what a judge called an “epic fraud.”
U.S. District Judge Paul A. Engelmayer, who handed down the sentence, sharply rebuked Kwon for repeatedly lying to everyday investors who trusted him with their life savings.
“This was a fraud on an epic, generational scale. In the history of federal prosecutions, there are few frauds that have caused as much harm as you have, Mr. Kwon,” Engelmayer said during a hearing in Manhattan federal court.
Kwon, 34, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, previously pleaded guilty and admitted to misleading investors about a coin that was supposed to maintain a steady price during periods of crypto market volatility.
He is one of several cryptocurrency moguls to face federal charges after a slump in digital token prices in 2022 prompted the collapse of a number of companies.
Dressed in yellow prison garb, Kwon addressed the court and apologized to his victims, including the hundreds who submitted letters to the court describing the harm they had suffered.
“All of their stories were harrowing and reminded me again of the great losses that I’ve caused. I want to tell these victims that I am sorry,” Kwon said.
Ayyildiz Attila, one of the hundreds of victims who submitted letters to the court, said he lost between $400,000 and $500,000 in the collapse.
“My savings, my future, and the results of years of sacrifice disappeared. I struggled to keep up with payments and responsibilities, and everything I had worked forwas erased,” Attila said.
Kwon’s lawyer Sean Hecker said in an email after the sentencing that Kwon spoke from the heart, expressed genuine remorse and will continue his efforts to make amends.
US Attorney Jay Clayton in Manhattan said in a statement following the hearing that Kwon devised elaborate schemes to inflate the value of his cryptocurrencies and fled accountability when his crimes caught up to him.
Prosecutors had asked for a sentence of at least 12 years in prison, saying the crash of Kwon’s Terra cryptocurrency caused billions of dollars in losses and triggered a cascade of crises in the crypto market.
Kwon’s lawyers had asked that he be sentenced to no more than five years so he can return to South Korea to face criminal charges.
Prosecutors charged Kwon in January with nine criminal counts for securities fraud, wire fraud, commodities fraud and money laundering conspiracy.
Kwon was accused of misleading investors in 2021 about TerraUSD, a so-called stablecoin designed to maintain a value of $1. Prosecutors alleged that when TerraUSD slipped below its $1 peg in May 2021, Kwon told investors a computer algorithm known as “Terra Protocol” had restored the coin’s value.
Instead, Kwon arranged for a high-frequency trading firm to secretly buy millions of dollars of the token to artificially prop up its price, according to charging documents.
Kwon pleaded guilty in August to two counts, conspiracy to defraud and wire fraud, and apologized in court for his conduct.
“I made false and misleading statements about why it regained its peg by failing to disclose a trading firm’s role in restoring that peg,” Kwon said at the time. “What I did was wrong.”
Kwon agreed in 2024 to pay $80 million as a civil fine and be banned from crypto transactions as part of a $4.55 billion settlement he and Terraform reached with the Securities and Exchange Commission.
He also faces charges in South Korea. As part of his plea deal, prosecutors will not oppose Kwon’s potential application to be transferred abroad after serving half his US sentence.
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