BitGo expands institutional custody support to Canton Network

The post U.S. Court Finds Pastor Found Guilty in $3M Crypto Scam appeared on BitcoinEthereumNews.com. Crime 18 September 2025 | 04:05 A Colorado judge has brought closure to one of the state’s most unusual cryptocurrency scandals, declaring INDXcoin to be a fraudulent operation and ordering its founders, Denver pastor Eli Regalado and his wife Kaitlyn, to repay $3.34 million. The ruling, issued by District Court Judge Heidi L. Kutcher, came nearly two years after the couple persuaded hundreds of people to invest in their token, promising safety and abundance through a Christian-branded platform called the Kingdom Wealth Exchange. The scheme ran between June 2022 and April 2023 and drew in more than 300 participants, many of them members of local church networks. Marketing materials portrayed INDXcoin as a low-risk gateway to prosperity, yet the project unraveled almost immediately. The exchange itself collapsed within 24 hours of launch, wiping out investors’ money. Despite this failure—and despite an auditor’s damning review that gave the system a “0 out of 10” for security—the Regalados kept presenting it as a solid opportunity. Colorado regulators argued that the couple’s faith-based appeal was central to the fraud. Securities Commissioner Tung Chan said the Regalados “dressed an old scam in new technology” and used their standing within the Christian community to convince people who had little knowledge of crypto. For him, the case illustrates how modern digital assets can be exploited to replicate classic Ponzi-style tactics under a different name. Court filings revealed where much of the money ended up: luxury goods, vacations, jewelry, a Range Rover, high-end clothing, and even dental procedures. In a video that drew worldwide attention earlier this year, Eli Regalado admitted the funds had been spent, explaining that a portion went to taxes while the remainder was used for a home renovation he claimed was divinely inspired. The judgment not only confirms that INDXcoin qualifies as a…

🚀 Market Moves The crypto market showed renewed optimism this week as global risk appetite improved. Bitcoin climbed above 115 000 USD and Ethereum approached 4 200 USD after easing US-China trade tensions and growing expectations of another Federal Reserve rate cut. The total market capitalisation returned to around 4 trillion USD, with altcoins also moving higher. 🏛️ Regulatory and Political Developments In the United States, lawmakers introduced a new bill aiming to ban elected officials and their families from owning or trading cryptocurrencies, citing ethical and transparency concerns. In Europe, the EU approved its 19th package of sanctions against Russia, which for the first time directly targets Russian crypto-exchanges and payment service providers suspected of helping to bypass restrictions. Meanwhile, the White House announced plans to nominate crypto-friendly lawyer Mike Selig as the new chair of the Commodity Futures Trading Commission. 🧠 Fun Crypto Fact Gold dropped by about 10% within just six days — one of the sharpest short-term moves in years. Historically, when gold corrects this fast, it tends to rebound by around 8% within two months. Analysts note that such turbulence in precious metals often shifts investor attention back toward bitcoin as an alternative store of value. ✅ Takeaway for NordFX clients The market remains in a consolidation phase, with regulation and geopolitics now having stronger influence than pure price momentum. The latest US-China trade thaw and expectations of easier monetary policy could provide short-term support, but political decisions are likely to remain the key driver. Stay tuned — next week will bring new data on ETF flows, US inflation, and further regulatory developments that could set the tone for November. 📊 Crypto News of the Week (Oct 23–30, 2025) 📉 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story