Federal authorities arrested Christopher Alexander Delgado, the CEO of Goliath Ventures (previously Gen-Z Ventures). According to the charging documents, what Delgado presented to prospective investors as a way to earn returns via crypto liquidity pools was actually a Ponzi scheme, where investors’ money was just being used to pay off earlier investors. With the profits from his venture, Delgado allegedly threw lavish parties and purchased multiple multi-million dollar properties.

Total loss estimated at $328,000,000.