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John McAfee endorsed Bitfi wallet’s CEO was under SEC radar




John McAfee endorsed Bitfi wallet's CEO was under SEC radar
Source: Unsplash

John McAfee, the Founder of McAfee Associations, a software company, and a well-known crypto influencer has endorsed a wallet whose CEO was previously under the U.S Securities and Exchange Commission [SEC] scanner.

The CEO of Bitfi, Daniel Kehsin, was previously the CEO and President of D.S Healthcare Group, Inc. The company’s board and management sought for the Federal Government in order to protect the shareholders after Daniel unlawfully took control of the D.S Healthcare Group, Inc.

SEC press release regarding Daniel Khesin

SEC press release regarding Daniel Khesin || Source: SEC

The company states that Khesin seized control of the company after unlawfully claiming that he had votes from the individuals who had a majority of the company’s outstanding common stock. Khesin further dismissed the Board of Directors of the company and announced that he would be creating a new one with his claims of having the majority votes. Following which, the board stated that this was a violation of Federal Securities law which required him to disclose the facts regarding the event.

Khesin also failed to issue a notice and holding a shareholders meeting before dismissing the company’s board. He was accused of accessing emails of the board member without any authorization and refused to give the employees full access to the computer network to do their work. He further used the computer networks to seek information to use against the board members. Furthermore, he defamed the audit committee and Chief Executive Officer by releasing a press statement.

Mr. Kehsin’s recent actions in his previous company

Mr. Kehsin’s recent actions in his previous company|| Source: SEC

Following this, the case was handled by the U.S. District Court of Southern Florida. The District Judge, William P. Dimitrouleas granted ‘Motion to Terminate Fox Rothschild and to strike Verified Emergency Motion for Temporary Restraining Order and Preliminary Injunction’.

Court records related to the case || Source: SEC

Court records related to the case || Source: SEC

Along with this, CryptoPujeet, a Redditor said that Bitfi wallet which claims to be unhackable and promoted by John McAfee is just a ‘marketing gimmick’. The ‘unhackable wallet’ claims to be an open-source wallet but has not released the code which is contrary to the statement.

CryptoPujeet said:

“BitFi’s CEO one Daniel Khesin was under the SEC scanner wherein he is alleged inter alia to have violated duty to shareholders, physically taking control of the company’s headquarters and misappropriating company’s property after his termination from the company.”

He further commented:

“Last but not the least, any crypto company choosing to hire McAfee for promotion needs to be seen with suspicion. Its really guilty until proven otherwise. No one is in a hurry to forget all the PND scams McAfee has been involved in. Since the SEC’s crackdown on celebs promoting ICOs and shitcoins, his stream of income has died down and this is nothing but a meek attempt to revive his image by promoting the least secure hardware wallet product out there.”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.


Facebook is way too late in entering the crypto game, claims Tim Draper

Arijit Sarkar



Facebook is too late into the crypto game, claims Tim Draper
Credit: flickr

The famous American venture capital investor, Tim Draper, was one of the first to trust the power of cryptocurrency, openly accepting it as a viable investment option. In one of his recent interviews, Draper shared that Bitcoin [BTC] resembled the gaming version of buying virtual swords that hold value in real money. He added,

“People are willing to take that kind of a risk for this kind of currency.”

While supporting his past crypto-investments that proved his belief in the ecosystem, Draper reminded viewers about his accurate prediction of Bitcoin [BTC] reaching $10,000 in trading value three years back. The avid investor also mentioned that while most politicians would interpret Bitcoin’s mainstream entry as progress for the society, he argued that bureaucrats see it as a threat to their existence. He added,

“Governments can also benefit from the technology for keeping perfect records and collecting taxes. Also, people get wealthier if there’s less friction to trading.”

Touching upon some of the latest happenings within the cryptospace, Draper acknowledged Facebook’s recent entry into the market, welcoming it as a great step towards the endorsement of cryptocurrency. However, he noted that there was a huge scope of improvement in Libra’s infrastructure. While explaining Bitcoin’s [BTC] stronger position in the ecosystem, he said,

“They’re (Facebook) way late into the game. Eventually, they’ll fall into the same place as all the other cryptocurrencies where they say Bitcoin’s better!”

He further envisioned that the U.S. government will not impose too many regulations on the technology as it may drive innovation away from the country into crypto-friendly markets such as Malta and Japan. Draper also mentioned that while big shots such as Warren Buffett may not be interested in investing outside fiat markets, young people in debt of the fiat currency find cryptocurrency as the most viable option to experience financial stability.

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