Popular American NTT IndyCar Series will feature the popular cryptocurrency in Sunday’s big event. The annual automobile race held at Indianapolis Motor Speedway will see cars race 200 laps to claim the title of Indy 500 winner.
Ed Carpenter Racing (ECR) had announced this week that their number twenty one Chevrolet will be driven by Rinnus VeeKay, and will be sponsored by the popular cryptocurrency.
The race car will be detailed in the popular BTC logo. The BTC logo is not under any copyright laws, therefore giving the team free reign to design the car as they wish. The car has also been numbered as 21 to signify the total supply of BTC, being 21 million.
Three years and some unforgettable memes later, the Securities and Exchange Commission has announced that 5 individuals will face charges relating to promoting the Bitconnect Ponzi scheme.
“The SEC's complaint alleges that these promoters offered and sold the securities without registering the securities offering with the Commission, and without being registered as broker-dealers with the Commission, as required by the federal securities laws,” the release reads.
The promoters, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble are said to have “advertised the merits of investing in BitConnect's lending program to prospective investors, including by creating "testimonial" style videos and publishing them on YouTube, sometimes multiple times a day.” In exchange for their promotional efforts, the influencers and representatives were paid on a commission basis.
Ireland’s central bank director general for financial conduct is the latest official to point out issues of Bitcoin (BTC) and the cryptocurrency industry following a major market sell-off.
The growing popularity of cryptocurrencies like Bitcoin is “of great concern,” the Central Bank of Ireland’s Derville Rowland warned, Bloomberg reports Monday.
“Crypto assets are quite a speculative, unregulated investment,” and investors should be “really aware they could lose the whole of that investment,” Rowland stated after crypto markets shed nearly $1 trillion in a matter of days in one of the biggest historic crypto sell-offs.
Rowland’s perspective on the crypto is set to contribute to the global regulation of the space as the official will take over as chairwoman of the European Securities and Markets Authority’s investment management standing committee in July. Earlier this year, the financial authority outlined the same concerns around crypto, stating that these types of assets are not regulated and pose significant risks for investors due to its highly volatile nature.
This Daily Dose was brought to you by Cointelegraph.