Crypto World

JPMorgan faces test on bank liability in $328M Goliath Ponzi case

Published

3 hours ago

13 March 2026

JPMorgan faces test on bank liability in $328M Goliath Ponzi case

JPMorgan faces a U.S. class action for allegedly enabling Goliath Ventures’ $328M crypto Ponzi via Chase accounts and exchange transfers.

Summary

Investors claim Goliath raised $328M from 2,000+ victims through JPMorgan business accounts, routing $123M to Coinbase while paying out only $50M in “profits.”
The suit alleges JPMorgan ignored AML red flags on high‑velocity, circular transfers, effectively extending the scheme’s life and investor losses.
The case could set precedent on when banks become liable as “enablers” of crypto fraud, tightening KYC/AML expectations on fiat rails into exchanges.

JPMorgan is facing a new class-action lawsuit in the U.S. over its alleged role in banking a $328 million crypto Ponzi scheme that funneled investor funds through Chase accounts and onto major exchanges, according to recent court filings and monitoring data.

JPMorgan sued over alleged $328M crypto Ponzi exposure

A group of investors has filed a class-action complaint in federal court in Northern California, accusing JPMorgan Chase of knowingly or negligently providing banking services to a large-scale crypto Ponzi scheme operated by Goliath Ventures. The lawsuit alleges that roughly $253 million in investor funds were first deposited into Chase accounts controlled by the scheme’s operators, before approximately $123 million was routed to Coinbase and other exchanges, while only about $50 million was returned to investors as purported “profits.”

According to the complaint, plaintiffs claim JPMorgan failed to act on multiple anti–money laundering red flags, including rapid, large-value transfers inconsistent with declared business activities and repeated inflows from retail investors. They argue that the bank’s alleged failure to file or escalate suspicious activity reports allowed the scheme to continue far longer than it otherwise would have, dramatically increasing total losses. The case seeks damages for investors and aims to hold one of the world’s largest banks liable for what plaintiffs frame as willful blindness to obvious fraud patterns.

Potential precedent for banking rails in crypto fraud

If the case proceeds, it could become a test of how far U.S. courts are willing to extend liability to traditional financial institutions that provide fiat on- and off-ramps to crypto-related investments. Plaintiffs are effectively arguing that banks cannot treat crypto fraud as an external problem while continuing to profit from deposit flows and payment processing tied to suspicious schemes.

For the broader digital asset sector, the lawsuit underscores a growing regulatory and legal focus on “enablers” of fraud, not just token issuers or platform operators. Exchanges and custodians already sit under heavy scrutiny; extending that lens to global banks that process billions in flows for crypto investment products could reshape compliance expectations around KYC/AML, transaction monitoring, and de-banking of high-risk promoters. The outcome is likely to be closely watched by both Wall Street and major crypto venues, given the central role of banking rails in market structure and liquidity.

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Crypto World

Pi Network (PI) Price Explodes 30% Today: Here’s Why

Published

5 minutes ago

13 March 2026

NewsAdmin

Pi Network’s price explodes 30% daily, adding to a total increase of more than 100% for the past month.

The price of Pi Network’s native cryptocurrency, PI, has exploded by more than 30% over the past 24 hours. This makes it the single best performer among the top 100 coins by total market capitalization, ahead of Render (RENDER) and Bittensor (TAO), which are up 19.4% and 12.9%, respectively.

Pi Network Price Increase: Factors to Consider

As CryptoPotato reported yesterday, one of the leading cryptocurrency exchanges in the United States, Kraken, announced that it will list PI. Per the statement, trading was supposed to start today, on March 13th.

At the time of this writing, trading hasn’t started yet, but anticipation is building. The latest move also comes on the back on a massive 175% increase in 24-hour trading volume, signaling heightened investor interest.

Pi Network’s price increase also puts its total market capitalization at around $2.8 billion, making it the 36th largest project by this metric, although its fully diluted valuation surpasses $4.3 billion.

What’s Next?

It’s interesting to see if the most recent rally can be sustained, given the uncertainty in the crypto and broader markets. However, it’s worth noting that PI’s price has been performing really well in the past month, despite the ongoing turbulence.

The cryptocurrency is up 73.5% in the past 14 days, adding to a combined increase of more than 112% in the past month alone.

This comes ahead of March 14th – a date that’s largely celebrated as Pi Day within the community. Although the celebration is broader and usually associated with the number (not the project), it has become some sort of a tradition.

Crypto World

Eightco Lands $125M in Funding from Bitmine and ARK

Published

13 minutes ago

13 March 2026

NewsAdmin

The fresh capital from Kraken’s parent company, Ark Invest, and Bitmine has backed Eightco’s new bets on OpenAI and MrBeast

Shares in Eightco Holdings (ORBS) jumped 12% on Thursday after it raised $125 million to back its bets in blockchain and artificial intelligence.

Eightco said on Wednesday that crypto treasury firm Bitmine led the funding with $75 million, while Ark Invest and Payward, the parent company of crypto exchange Kraken, each chipped in $25 million apiece.

The company added that Bitmine chairman Tom Lee would join Eightco’s board and Ark Invest’s chief futurist Brett Winton also signed on as a board advisor.

Eightco chairman Dan Ives, known for his bullish commentary on the tech sector, also stepped down from his position after being appointed to the role in September.

Eightco said the capital would support its expansion “into investing in technology shaping the next generation of artificial intelligence, blockchain infrastructure, and global digital consumer platforms.”

Eightco bets on MrBeast, OpenAI

Eightco said that it had also closed an initial $50 million strategic investment into OpenAI and another $25 million investment into Beast Industries and its owner and YouTuber James Donaldson, better known as MrBeast.

“These investments position ORBS as a hub at the center of key frontier AI technologies and content creation, expanding its portfolio to include ownership stakes in world-leading innovators,” Eightco said.

Shares in Eightco ended trading on Thursday up 11.67% to 90 cents in reaction to the announcement. The stock saw a slight fall after hours, dropping by 2.6% to 88 cents.