Day: April 19, 2023

Turncoin exposed – Another Crypto SCAM?
Press Release

Turncoin exposed – Another Crypto SCAM?

When fundraising in 2019, the founder of crypto venture VirtualStax told potential investors his company would bring in $97 billion revenue in three years. But its tokens and its celebrity endorsers’ digital trading cards have yet to launch. VirtualStax executives have claimed the project is valued at $15 billion, and found a captive audience among niche groups including megachurch leaders who have poured money into the venture. In February, CEO and founder Rudolf Markgraaff said he is in talks to raise $70 million. But that heady valuation is one of several statements made by the company that don’t seem to add up. Markgraaff’sVirtualStax — part of a coterie of companies he runs, including a platform to list the trading cards called TheXchange and another that issues TurnCoin, the to...