Christopher Delgado, the former CEO of Goliath Ventures, has publicly apologized to investors for what US prosecutors allege was a $328 million crypto investment Ponzi scheme.

“They put their trust in me, and I failed them,” Delgado told ABC-affiliated television station WFTV in an interview aired on Monday. Delgado said he wanted to publicly explain what happened “from beginning to end” and express “how sorry I am.”

Delgado claimed that he voluntarily returned to the US to face charges of fraud and money laundering brought by the Orlando US Attorney’s Office on Feb. 20. He faces a maximum penalty of 30 years in federal prison if convicted on all counts.

He has been accused of soliciting victims into investing substantial sums of money under false and fraudulent promises of monthly returns generated through crypto liquidity pools. WFTV reported that investors ranged from nurses and teachers to firefighters and retirees.

Christopher Delgado speaking in an interview with WFTV. Source: WFTV

Delgado said Goliath was paying people “an astronomical amount of money” when questioned on how the company allegedly used millions of dollars in investor funds.

The US Attorney’s Office alleged that Delgado ran Goliath as a Ponzi scheme between January 2023 and January 2026 and used some of the funds to purchase four properties in Florida valued at a combined $14.5 million.

The investor funds were also allegedly used to pay for “Goliath’s extravagant business gatherings, Christmas parties, and luxury travel accommodations,” the US Attorney’s Office said.

It claimed one investor lost around $720,000 despite promises from Goliath that he would get a guaranteed return and that his investment could be returned at any time.

WFTV said Delgado is currently on bail, wearing an ankle monitor while confined to his 11,000 square foot estate that was allegedly purchased with investor funds.

Delgado’s 11,000 square foot estate in Florida. Source: WFTV

Delgado claimed there was only $160,000 left in the Goliath Ventures bank account around the time of his arrest.

Delgado said that he didn’t act alone and that he is cooperating with federal law enforcement to provide information about what he claimed is his former colleagues’ involvement in the alleged Ponzi scheme. 

JPMorgan sued over ties to Goliath

In March, investors sued Wall Street bank JPMorgan Chase, claiming it helped facilitate fund flows to Goliath. 

Related: California man jailed for 78 months over $250M crypto theft conspiracy

A proposed class lawsuit claimed that JPMorgan knew, by virtue of its Know Your Customer obligations, that Goliath was operating as a private equity-style cryptocurrency investment pool despite not being licensed to offer or sell those types of investment products. 

The investors alleged that $253 million was deposited into a JPMorgan bank account between January 2023 and June 2025, with roughly $123 million later transferred to Goliath wallets at Coinbase.

Last month, a Florida federal court judge extended the deadline for prosecutors to file an indictment against Delgado to June 26.

Magazine: North Korea denies crypto hacks, Upbit’s bank tests Ripple: Asia Express 

The Ethereum Foundation has reported notable progress on the upcoming Glamsterdam upgrade, outlining a credible post-upgrade target and accelerating preparations on several parallel fronts. In a blog post, the foundation said it has established a 200 million gas limit floor as part of Glamsterdam’s rollout, a substantial increase from the current level around 60 million. The move is geared toward delivering a meaningful speed boost for post-upgrade network throughput and set the stage for the long-term scaling roadmap.

The foundation reiterated that the immediate priority is shipping Glamsterdam, which programmers had originally slated for June but are now targeting in the third quarter of 2026. Glamsterdam is billed as a foundational upgrade for the layer-1 chain, aimed at rethinking how the network processes transactions and manages its rapidly expanding data store, effectively “fundamentally updating how Ethereum creates and verifies blocks.”

Beyond Glamsterdam, Ethereum’s roadmap remains anchored by ongoing work on Hegotà, the anticipated next major upgrade, and the Strawmap, the project’s roadmap for quantum-readiness. The Ethereum Foundation noted that Glamsterdam devnets are live and that scoping for Hegotà is well underway, with continued progress being tracked at an interop event held in Svalbard, Norway.

Key takeaways

• Glamsterdam targets a 200 million gas limit floor, a major step up from current levels and a potential driver of higher throughput after the upgrade.
• Official timing has shifted from June toward the third quarter of 2026, with the focus remaining on delivering Glamsterdam and its scaling innovations.
• Enshrined Proposer-Builder Separation (ePBS) stabilization has been confirmed, integrating the division of block-building duties more deeply into Ethereum’s rules.
• EIP-8037, which prices data storage more efficiently, has been finalized to curb uncontrolled state growth as gas limits rise.
• The Ethereum Foundation is undergoing a leadership transition in its Protocol cluster, bringing in new leads while several core developers move on or take sabbaticals.

Glamsterdam: scaling the L1 and redefining block creation

At its core, Glamsterdam is designed to reorganize Ethereum’s transaction processing and block verification so the network can handle a larger daily load without compromising safety. The plan to establish a 200 million gas floor signals the network’s intent to push forward with higher-capacity blocks while maintaining stability during the transition. The move aligns with broader efforts to improve L1 efficiency ahead of subsequent upgrades that promise to broaden the ecosystem’s capabilities for decentralized applications and user experience.

The Ethereum Foundation emphasized that the immediate aim is to ship Glamsterdam, with a revised timeline placing the upgrade in Q3 2026 rather than June. Developers are reportedly actively testing and refining the upgrade in devnets. The Svalbard interop event cited ongoing collaboration and alignment among researchers, developers, and infrastructure teams as they validate cross-component interactions and ensure the upgrade’s components work cohesively in practice.

In parallel with Glamsterdam, the Foundation remains focused on Hegotà, the forthcoming major upgrade, and the Strawmap, Ethereum’s strategic plan for quantum resistance and long-term data management. The combination of these tracks reflects a deliberate, multi-layered approach to scaling Ethereum while preserving its security guarantees and decentralization ethos. The Strawmap, in particular, remains a touchstone for how Ethereum intends to evolve in the quantum era, balancing forward-looking security with practical deployment paths.

Smarter data storage and a more resilient block-building model

Two significant protocol milestones were highlighted as part of the ongoing evolution. First, the enshrined Proposer-Builder Separation (ePBS) has reached stabilization, formalizing how validators outsource block-building duties to a set of specialized builders within Ethereum’s consensus rules. This enshrinement minimizes reliance on external relays and gives the network a longer runway to accommodate larger blocks safely. The shift aims to reduce latency and improve block production efficiency without compromising the core safety properties that underpin Ethereum’s security model.

Second, EIP-8037 has been finalized, introducing smarter pricing for storing state data. By raising the cost of state-creation operations, the proposal helps prevent unsustainable growth of on-chain state as block gas limits rise. The combination of ePBS and EIP-8037 is intended to bolster Ethereum’s data management framework at a time when higher throughput could otherwise accelerate state growth if not properly priced and managed.

These changes are not standalone; they are part of a cohesive effort to ensure that Glamsterdam and subsequent upgrades can deliver meaningful improvements in performance and cost-efficiency while keeping the network resilient against data bloat and security risks associated with larger blocks.

Protocol leadership enters a transitional phase

The Ethereum Foundation also disclosed a leadership transition within its Protocol cluster. Will Corcoran, Kev Wedderburn, and Fredrik have been named as new leads guiding protocol development, signaling a renewed wave of coordination and direction for core research and implementation work. In parallel, two long-standing contributors, Barnabé Monnot and Tim Beiko, are moving on from Foundation roles, and Alex Stokes will be taking sabbatical leave for a period. Corcoran commented that the Protocol cluster is entering a new chapter that emphasizes broad collaboration and continued delivery of Glamsterdam, Hegotà, and the Strawmap. Monnot underscored a commitment to making Ethereum’s distinctive features more accessible to users and to participating in a plural approach to how Ethereum gets built.

The leadership changes come as Ethereum’s development cadence remains intense, with multiple upgrade tracks running in parallel. The aim is to ensure that the core protocol remains adaptable to emerging technologies and user needs while maintaining the reliability that large-scale decentralized applications require. Observers will want to watch how this leadership transition influences cross-team coordination and the prioritization of Glamsterdam’s milestones against Hegotà and the quantum-resilience roadmap embedded in Strawmap.

Roadmap momentum: Hegotà and the quantum-ready Strawmap

Glamsterdam is the first major upgrade in Ethereum’s extended roadmap, but it sits within a broader program that includes Hegotà and Strawmap. Hegotà is described as the next major upgrade after Glamsterdam, with planning and scoping already underway. Meanwhile, Strawmap continues to guide Ethereum’s approach to future data management and quantum resistance, ensuring that the network remains prepared for anticipated cryptographic challenges and workload growth. The interop activity in Svalbard underscores a shared effort among developers to validate compatibility across components and to align on a coherent sequence of upgrades that collectively advance Ethereum’s long-term vision.

What remains uncertain—and what readers should monitor closely—is the exact timing and readiness of each milestone, especially as Glamsterdam’s timeline shifts earlier or later depending on testing outcomes, network conditions, and coordination across ecosystems. Investors, developers, and users will want to keep an eye on devnet stability, the pace of Hegotà scoping, and the practical implications of ePBS and EIP-8037 on on-chain data costs and validator operations.

Looking ahead, the Ethereum ecosystem appears intent on balancing aggressive scaling with disciplined governance. Glamsterdam’s rollout, paired with smarter data pricing and a strengthened block-building model, positions Ethereum to absorb higher demand while maintaining robustness. As the Foundation continues to rotate leadership and align cross-team priorities, market watchers should watch for concrete milestones in devnet testing, cross-client interoperability, and the emergence of tangible upgrades that translate into improved user experiences and more scalable infrastructure for decentralized applications.

As the roadmap unfolds, traders and builders should stay tuned for updates on Glamsterdam’s progress, the pacing of Hegotà development, and the ongoing refinement of Strawmap’s quantum-ready framework. The coming quarters will be critical in determining how quickly Ethereum can translate these architectural changes into real-world benefits for developers, protocols, and end users alike.

The Ethereum Foundation has reached several progress milestones on the next Ethereum upgrade called “Glamsterdam” and has named three new leads for its Protocol team.

The Ethereum Foundation said in a blog post on Monday that it had achieved a “credible post-Glamsterdam target,” establishing a 200 million gas limit floor, giving the network a major post-upgrade speed boost from its current gas limit of around 60 million.

“The immediate focus is shipping Glamsterdam,” the Ethereum Foundation said, which had originally scheduled the upgrade for June, but is now likely to be sometime in the third quarter of 2026.

Glamsterdam focuses on scaling the layer-1 chain by reorganizing how the network processes transactions and manages its growing database, “fundamentally updating how Ethereum creates and verifies blocks,” according to the Ethereum website. 

The Ethereum Foundation is also continuing preparations for Hegotà, the next major upgrade, and advancing the Strawmap, its quantum-ready roadmap.

“Glamsterdam devnets are now live, and scoping for Hegotà is well underway,” it stated during an interop event in Svalbard, Norway. 

Finalizing ePBS and smarter data storage

The EF also confirmed the stabilization of enshrined Proposer-Builder Separation (ePBS), a system that allows validators to outsource their block-building duties to a set of specialized builders.

The new enshrined version builds this separation directly into Ethereum’s rules with less reliance on outside relays, giving the network more time to handle bigger blocks safely.

Related: AI ‘vibe coding’ could put Ethereum roadmap ahead of schedule: Vitalik Buterin

EIP-8037 has also been finalized, which enables smarter pricing for storing data. The proposal increases the cost of state creation operations, avoiding excessive state growth under increased block gas limits. 

Glamsterdam is the first upgrade on Ethereum’s long-term roadmap. Source: Strawmap.org

Changes in EF Protocol leadership 

The Foundation also announced the “start of a leadership transition” for the Ethereum Foundation Protocol cluster with Will Corcoran, Kev Wedderburn, and Fredrik as the new leads. 

Ethereum developers Barnabé Monnot and Tim Beiko are moving on from the Foundation, while Alex Stokes will be on sabbatical, it said.

“There’s a new chapter starting for the Protocol cluster. We’re welcoming new leads and coordinators, and continuing our work toward Glamsterdam, Hegotà, and the Strawmap,” said Corcoran on X on Monday. 

“Making Ethereum’s unique features more available to users today is on my mind; so is participating in the plurality of ways that Ethereum gets built,” said Monnot.

Magazine: Strategy reveals why they would sell BTC, Trump Media posts loss: Hodler’s Digest

Former Goliath Ventures CEO Christopher Delgado has publicly apologized to investors while facing federal accusations that he operated a $328 million crypto Ponzi scheme tied to false investment promises and misuse of client funds.

According to an interview aired Monday by ABC-affiliated television station WFTV, Delgado said he returned to the U.S. voluntarily to answer fraud and money laundering charges filed by the Orlando U.S. Attorney’s Office on Feb. 20. 

“They put their trust in me, and I failed them,” Delgado told the outlet, adding that he wanted to explain what happened “from beginning to end” and express “how sorry I am.”

Federal prosecutors have accused Delgado of running Goliath Ventures as a Ponzi scheme between January 2023 and January 2026 by convincing investors to place large sums into crypto liquidity pool strategies that allegedly promised guaranteed monthly returns. If convicted on all charges, Delgado faces up to 30 years in federal prison.

WFTV reported that victims included nurses, teachers, firefighters, and retirees who were allegedly drawn in through promises that their funds could be withdrawn at any time. One investor reportedly lost nearly $720,000 after being assured that the investment carried guaranteed returns and redemption access.

Inside the alleged Goliath operation

During the television interview, Delgado admitted that Goliath had been paying people “an astronomical amount of money” when questioned about how investor capital was allegedly handled. Prosecutors said part of the money collected from investors went toward purchasing four Florida properties worth a combined $14.5 million.

Court filings from the U.S. Attorney’s Office also alleged that investor money financed luxury travel, large business events, and company Christmas parties linked to Goliath Ventures’ operations.

Meanwhile, WFTV reported that Delgado is currently out on bail under home confinement while wearing an ankle monitor at an 11,000 square foot estate that authorities claim was purchased using investor funds. Delgado told the station there was only about $160,000 left in Goliath Ventures’ bank account around the time of his arrest.

At the same time, Delgado claimed he was not acting alone and said he is cooperating with federal investigators regarding what he described as the involvement of former colleagues in the alleged scheme.

JPMorgan lawsuit

Separate legal action filed in March expanded scrutiny beyond Goliath Ventures itself after investors sued JPMorgan Chase over its alleged role in processing transactions tied to the operation.

According to the proposed class-action complaint filed in federal court in Northern California, investors alleged that roughly $253 million flowed into Chase accounts connected to Goliath Ventures between January 2023 and June 2025. The lawsuit further claimed that about $123 million was later transferred from those accounts to wallets at Coinbase and other crypto platforms.

Plaintiffs argued that JPMorgan should have identified suspicious activity linked to the investment operation through its Know Your Customer and anti-money laundering obligations. The complaint accused the bank of failing to act on large and repeated retail investor deposits that allegedly did not match Goliath’s stated business activity.

Investors behind the lawsuit are seeking damages while arguing that traditional financial institutions should also face liability when alleged crypto fraud operations move funds through regulated banking channels.

Last month, a federal judge in Florida extended the deadline for prosecutors to file an indictment against Delgado until June 26.

DeFi lender Aave and other stakeholders impacted by last month’s Kelp DAO hack have launched a binding Arbitrum governance vote to transfer $71 million in disputed ether into an Aave LLC-controlled address

A Constitutional Arbitrum Improvement Proposal, or AIP, is the DAO’s formal on-chain governance mechanism for approving binding protocol actions. This amended proposal implements Judge Margaret Garnett’s recent court order, which authorizes an on-chain Arbitrum DAO vote to transfer the frozen ETH from its current immobilized address to a wallet controlled by Aave LLC, provided that the restraining notice sought by North Korean terrorism judgment creditors is respected.

If approved, the proposal would move 30,765 ETH from the wallet where Arbitrum’s Security Council immobilized the funds to an Aave LLC-controlled address, as required by the court’s order. However, the assets would remain subject to strict legal restrictions and cannot be freely used, transferred, or deployed by Aave LLC unless permitted by the court.

The legal fight over the frozen assets took an unusual turn after blockchain forensics firms widely attributed the exploit to North Korea’s Lazarus Group. That attribution comes from blockchain analytics firms and external forensic research, and has not been established as a legal finding within either the Arbitrum governance process or the ongoing court proceedings.

Still, that attribution has been cited alongside broader legal arguments by lawyers representing families holding roughly $877 million in unpaid U.S. terrorism judgments against North Korea, who argue that if the assets are ultimately deemed linked to North Korea for enforcement purposes, they could potentially be used to satisfy those longstanding court awards.

Aave disputes that premise, arguing that the ether belongs to users harmed in the exploit, not to the attackers who briefly controlled it, turning the case into a fight over whether the funds should go to DeFi victims or to terrorism creditors.

In a separate lawsuit, many of the same terrorism judgment creditors sued privacy protocol Railgun DAO, alleging it allowed North Korean-linked funds to move through its infrastructure rather than freezing them, as part of a broader strategy to pursue allegedly Pyongyang-linked crypto across decentralized finance.

Voting on the AIP is scheduled to begin May 15.

TLDR

• Between Q1 2025 and Q1 2026, Binance’s artificial intelligence security infrastructure prevented $10.53 billion in potential cryptocurrency theft and user losses.
• The exchange intercepted 22.9 million phishing and scam operations in the first quarter of 2026, safeguarding $1.98 billion in customer assets.
• Artificial intelligence now manages 57% of Binance’s fraud prevention systems, achieving card fraud rates 60–70% lower than industry standards.
• The platform facilitated the recovery of $12.8 million across 48,000 fraud incidents, representing a 41% increase compared to the previous year.
• Industry-wide cryptocurrency fraud reached $17 billion in 2025, marking a 30% surge as AI technology makes malicious attacks more accessible and affordable.

The world’s leading cryptocurrency exchange by transaction volume, Binance, reports that its machine learning-powered security architecture prevented over $10.5 billion in potential customer losses during a 15-month span from early 2025 through March 2026.

According to a Monday blog post from the platform, these security measures successfully stopped 22.9 million phishing and fraudulent schemes during the first quarter of 2026 alone, preserving approximately $1.98 billion in user assets throughout that three-month window.

The cryptocurrency platform has implemented over 24 AI-driven security protocols alongside more than 100 specialized detection models. Machine learning now accounts for 57% of the exchange’s fraud prevention capabilities, resulting in card fraud incidents that fall 60–70% below standard industry rates.

Regarding user verification, Binance reports its customer identification protocols have advanced to identify deepfake technology and artificially generated identities. The platform asserts these improvements provide operational efficiency up to 100 times greater than conventional manual verification processes.

The exchange employs computer vision technology to identify fraudulent payment documentation. Simultaneous language processing algorithms monitor peer-to-peer transactions for suspicious behavior patterns. According to Binance, these integrated systems collaborate to intercept fraudulent activity before customers suffer financial damage.

What the Numbers Show About Crypto Fraud

Cryptocurrency-related fraud totaled $17 billion throughout 2025, representing a 30% escalation from the previous year, based on Binance’s internal data analysis. The exchange attributes this increase to AI technology reducing both the complexity and cost of launching attacks.

Smart contract exploitation now requires as little as $1.22 per targeted contract, reflecting a 22% monthly decline in cost. Sophisticated AI systems are now achieving 72.2% effectiveness rates in simulated attack environments. According to Binance, 76% of AI-powered fraudulent schemes currently fall into the highest classification for scope and severity.

Cybercriminals are deploying deepfake videos, synthetic voice technology, automated phishing operations, and impersonation tactics to compromise users across various communication channels.

Recovery initiatives have expanded in proportion to emerging threats. Binance reports assisting in the recovery of $12.8 million spanning 48,000 separate cases throughout 2025, reflecting a 41% annual growth rate. The platform also supported law enforcement agencies in seizing $131 million in illegally obtained funds and fulfilled over 71,000 information requests from authorities.

New Tools and Industry Comparisons

Binance launched a specialized product named Binance AI Pro, engineered to isolate risk at the fundamental infrastructure level. Within this framework, assets controlled by AI agents remain segregated from primary user accounts. Authorization parameters restrict activities exclusively to trading functions, eliminating withdrawal capabilities. The platform indicates that roughly 12% of external applications submitted to its marketplace have received flags for potential security concerns.

The exchange additionally deployed a withdrawal restriction mechanism designed to mitigate physical security threats against users, which blockchain security firm CertiK projects will surpass previous annual records.

By comparison, JPMorgan estimated in the prior year that its artificial intelligence security infrastructure contributed to preventing approximately $1.5 billion in fraudulent losses.

Binance maintains collaborative relationships with Tether and Tron through the T3 security coalition, which recently immobilized a record-breaking $344 million in USDT tokens connected to Iranian organizations. The exchange has additionally processed more than 71,000 official law enforcement inquiries to date.