The Federal Bureau of Investigation (FBI) on Tuesday arrested Rhode Island cryptocurrency trader Jeremy Spence on allegations that his “Coin Signals” crypto funds bilked investors of $5 million between November 2017 and April 2019.

The 24-year-old proprietor of at least three crypto funds allegedly ran their value into the ground, losing millions of dollars for 170 investors. Spence tried to hide his losses by funneling over $2 million of newcomers’ bitcoin and ethereum positions to…

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