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Crypto Diehards Stand by Celebrity-Hyped Coin U.S. Calls a Fraud

April 11, 2018, 5:28 PM

It appears that even federal fraud charges can’t rattle a cryptocurrency’s true believers.

A week after U.S. authorities arrested two men behind an initial coin offering that raised more than $25 million, their digital token continues to trade.

The Securities and Exchange Commission said April 2 that Sohrab “Sam” Sharma and Robert Farkas persuaded investors to buy into Centra Tech -- which planned to create a virtual currency debit card -- by falsely claiming that it had partnerships with Visa Inc. and Mastercard Inc.

Instead of being relegated to the dustbin of history, their coin lives on in cyberspace. ...