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The Global Trade Club defendants are heading towards settlement agreements with the CFTC.

On May 14th the court ordered the CFTC and Global Trading Club defendants to

confer “in person or by video conference regarding an agreed procedure for obtaining testimony or declarations from the alleged financial victims and participants in the alleged multi-level marketing scheme.”

A subsequent status hearing was scheduled for May 26th.

On May 19th a joint motion was filed, requesting a stay on the May 14th order.

As per the joint motion, the CFTC has reached settlement agreements with defendants Mayco Maldonado, Cesar Castaneda and Joel Castaneda Garcia.

If approved by the Court, the proposed consent orders would end the litigation with respect to Defendants Maldonado, Cesar Castaneda, and Joel Castaneda Garcia.

In anticipation of filing of the proposed consent orders for approval, the parties moved to stay the May 14th order.

On May 20th the court granted the request. The proposed consent orders are now expected to be filed, failing which a Joint Status Report is to be filed by June 30th.

Whether Rodrigo Jose Castro Molina, the fourth Global Trading Club defendant, intends to settle is unclear.

I’ll continue to monitor the case docket for updates.

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Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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‘Be Patient- Bitcoin Price To Recover’ Says A Popular Analyst

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The global market capitalization for the past couple of days is experiencing an extreme drain. Most of teh crypto assets are registering a consecutive 5 red daily candles in a row. The huge selling pressure accumulated on the Bitcoin price has compelled it to bottom below $38,000. By trending very close to the support levels around $37,000, the fear of BTC price revisiting levels around $34,000 hovers. 

Despite the bearish sentiments surrounds the assets, yet it is believed that the price will recover very soon. A popular analyst Alan Santana, suggests his followers to patiently wait until the price flips the bears. He also said that some people are already giving up Bitcoin, falling into the trap of ‘Panic Selling’. And also asked his followers not to join them, rather wait until the next pump.

Also Read: Dogecoin Price Feared To Continue With A Bearish Trend, Is $0.2 At Stake?

btcchart

The price seems to be following the path led by the analyst as it bounced significantly on visiting the support zone at $37,978. With a significant bounce, the price could surge close to $40,000 or above. However, yet the chances of forming lower lows still hover the rally. And in such a case, the price could even visit the lower support at $35,700 and rebound. 

However, $35,700 are among the strong support levels and if in case, the Bitcoin price fails to sustain, then a plunge below $34,000 may be imminent. But considering the indicators, the RSI has already bounced back and MACD showcases ease in the selling volume. And hence considering the factors a bounce above $40,000 may be on the way for BTC price.

Also Read: Cardano(ADA) Price Spikes As Bitcoin & Ethereum Yet To Manage The Trembled Situation!

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