Ricardo Salinas, Mexico’s third-richest man, has claimed that he was defrauded in a $150 million stock-backed loan connected to a $400 million investment in Bitcoin. He alleges that the shares he pledged for the loan were sold without his consent. Stock-backed loans, which allow investors to borrow against shares without selling them, are attractive for financing investments like Bitcoin, but this case highlights the vulnerabilities in collateralized dealings within the volatile crypto market.
Ricardo Salinas alleges $150M fraud in $400M Bitcoin investment
