A US court sentenced a man to five years in prison for his leading role in a $9.4 million cryptocurrency Ponzi scheme.

He was also ordered to pay over $1 million in forfeiture and over $170,000 in restitution.

Wolf Capital CEO Found Guilty

Travis Ford, a 36-year-old resident of Glenpool, Oklahoma, was the CEO of Wolf Capital Trading LLC, a cryptocurrency investment firm that raised nearly $10 million from around 2,8000 investors. 

According to the US Department of Justice, Ford spent 2023 soliciting investments through his website and various online promotions. He portrayed himself as an experienced trader capable of generating daily returns ranging from 1% to 2% for investors. 

The U.S. Department of Justice has sentenced Wolf Capital Crypto Trading CEO Travis Ford to five years in prison for a $9.4 million crypto Ponzi scheme, ordering over $1 million in forfeiture and $170,000 in restitution after he admitted to defrauding about 2,800 investors.…

— Wu Blockchain (@WuBlockchain) November 14, 2025

During Ford’s court process, prosecutors argued that he ultimately diverted and misappropriated those funds for personal use and to support his co-conspirators.

In January, Ford admitted guilt to a single charge of conspiracy to commit wire fraud. As part of his plea, he acknowledged knowing that the investment returns he advertised could not be consistently delivered.

This case marks yet another crypto-related Ponzi scheme to surface in the headlines in recent months.

Crypto Fraud Surges Worldwide

In recent months, several major crypto Ponzi schemes have reappeared in headlines worldwide. 

A similar case came last month, when Thai authorities arrested Chinese national Liang Ai-Bing in Bangkok. He is accused of helping run the FINTOCH scheme, which allegedly stole more than $31 million from nearly 100 investors across Asia. Officials say the operation spanned multiple countries and relied on aggressive online marketing.

In August, a New York court issued another major ruling. Judges ordered EminiFX founder Eddy Alexandre to repay $228 million after regulators determined his AI-themed platform was a large-scale fraud. The scheme heavily targeted immigrant communities in the United States. 

A third case surfaced weeks earlier in Detroit, when city officials sued Florida-based RealT for selling tokenized shares of homes it never owned. The company raised roughly $2.72 million from investors through these offerings. 

While Ford’s conviction highlights a tougher stance from authorities, the wave of recent cases makes clear that crypto fraud is spreading faster than enforcement can keep up.

The post US Man Behind $9.4 Million Crypto Ponzi Scheme Learns His Fate in Court appeared first on BeInCrypto.

For the first time in the company’s history, Strategy’s market value has fallen below the net asset value of its Bitcoin holdings.

This reversal means that the total value of the Bitcoin it owns is now less than the total debt the company took on to acquire it. Analysts worry that if bearish conditions continue, Strategy could enter into a death spiral.

Debt Load Turns Into Liability

Bitcoin’s sharp decline today is being closely tied to mounting pressure on Strategy (formerly MicroStrategy), the largest corporate holder of the asset. 

Market sentiment shifted abruptly after Bitcoin broke below the $100,000 threshold, trading near $95,562 at the time of writing. The downturn intensified concerns about Strategy’s leveraged position, adding pressure to an already fragile market environment.

This is why BTC is nuking:

For the FIRST TIME EVER @MicroStrategy has gone below 1 NAV.

Meaning that Saylor's BTC holdings are worth less than their total debt.

Traders are front-running the death spiral of $MSTR and its eventual BTC force selling. pic.twitter.com/uLTmeidZVU

— Derivatives Monke (@Derivatives_Ape) November 13, 2025

The shakeup also renewed questions about the long-term viability of its allocation model, which relies heavily on aggressive leverage. Chairman Michael Saylor uses billions in borrowed capital to expand the company’s Bitcoin holdings, magnifying both gains and risks.

When Bitcoin rises, that leverage amplifies gains. But when it falls, the company’s debt load becomes a point of vulnerability.

This playbook has raised fresh concerns among traders that Strategy could slip into what some call a “death spiral.” Falling BTC prices are steadily eroding the value of the company’s collateral.

In that scenario, the company could be forced to sell part of its holdings to meet its obligations. Even if such a scenario never materializes, the possibility alone is enough for market participants to reposition.

Saylor Addresses Selling Speculation

Beyond Strategy’s structural leverage risk, market participants also worry about the impact the market would suffer if Saylor were to unload some of his holdings.

Strategy currently owns 641,692 BTC, or roughly 3% of the total circulating supply. If the company were forced to liquidate a substantial portion of that stash, the resulting increase in supply could significantly impact the market.

We are ₿uying.pic.twitter.com/6g11E9G6pO

— Michael Saylor (@saylor) November 14, 2025

The growing concern pushed Saylor to address speculation about a possible Bitcoin sell-off. In an interview with CNBC, the Strategy founder reiterated his long-term conviction in Bitcoin and dismissed the rumors of a sell-off. 

“My view is [that] Bitcoin is going to outperform gold, it’s going to outperform the S&P, it is digital capital, and so if you’re a long-term investor, this is the place to be,” Saylor said. 

Despite his confidence, today’s developments inevitably raise concerns about structural vulnerabilities in Strategy’s accumulation strategy.

The post MicroStrategy Now Owes More Than Its Bitcoin Is Worth appeared first on BeInCrypto.