Jeremy Jordan-Jones, the guy behind the failed crypto startup Amalgam, apparently lied to investors about some big partnerships with sports teams like the Golden State Warriors. Prosecutors are claiming that on May 21, 2025, at around 8:22 p.m., this dude was hit with fraud charges for allegedly scamming investors out of over $1 million and using the cash to live it up in style. So, not cool, Jeremy.
According to the prosecutors, Jordan-Jones was all about painting Amalgam as this tech company that was all into creating point-of-sale payment systems based on blockchain. He was out here telling people that they had these huge partnerships with sports teams, a big restaurant group, and even a fancy soccer team in England. But surprise, surprise — none of these partnerships were actually real. The prosecutors are saying that this guy was playing investors like a fiddle, promising to use their money to get Amalgam’s non-existent crypto token listed on a crypto exchange. Meanwhile, he was just living his best life, splurging on hotels, restaurants, cars, and designer clothes in Miami. Talk about shady, right?
U.S. Attorney Jay Clayton wasn’t holding back when he called out Jordan-Jones for his scheme, saying that he was using the hype around blockchain to straight-up deceive investors. The prosecutors even threw in the accusation that this guy cooked up fake documents to snag a corporate credit card, racking up a $350,000 bill before the bank caught on and shut him down. Now, Jordan-Jones is facing a laundry list of charges, including wire fraud, securities fraud, making false statements to a financial institution, and aggravated identity theft. If he gets convicted on all counts, he could be looking at a maximum of 82 years behind bars. Yikes.
Not really sure why this matters, but Cheyenne Ligon from the CoinDesk news team is all over this story, focusing on the crypto regulation and crime angle. She’s a Texas native who studied political science at Tulane University and graduated from CUNY’s Craig Newmark Graduate School of Journalism in December 2021, where she honed her skills in business and economics reporting. Oh, and just so you know, she’s not holding any crypto herself. So, there you have it — a wild ride of a story about a guy who thought he could pull a fast one on investors and ended up in hot water instead.
