The Twitterati and rest of the bitcoin community went abuzz last weekend over Mike Tyson’s tweet announcing his entry into bitcoin market. Mike Tyson, in a tweet mentioned about the soon to be launched Mike Tyson Bitcoin ATMs.
Mike Tyson’s tweet contained a link to MikeTysonBitcoin.com on which it was claimed that the new ATMs are faster than Mike Tyson’s record knock out time of 30 seconds. According to the webpage, the new bitcoin ATMs can convert fiat into bitcoin in less than 20 seconds. Since the tweet, there have been speculations about whether Mike Tyson has started his own bitcoin venture or he is just endorsing Bitcoin Direct LLC’s venture. Bitcoin Direct has been involved in managing and servicing bitcoin ATMs for a while and its name is mentioned at the bottom of the website.
SiliconANGLE, a California based technology news platform decided to dig deeper into the story and found that Mike Tyson may have been unwittingly roped into an elaborate scam. According to the publication’s investigation, Mike Tyson Bitcoin ATMs venture is backed by two entities whose reputation are questionable at best. The domain name, MikeTysonBitcoin.com is apparently registered to one Peter Klamka, who according to the records is the CEO of Bitcoin Brands Inc. According to the company profile, Bitcoin Brands Inc. offers multiple services including Bitcoin for Miles, Bitcoin Vending Network and BitMD.
Up on digging deeper, the publication apparently found no slid proof of the company offering any of the above solutions. The only information available about these services is through the company’s press releases. It was also found that Bitcoin Brands trades as OTC stocks at about $0.0001 per share and a market capitalization of about $6870. SiliconANGLE questions the rationale behind Mike Tyson signing up an endorsement deal without verifying the agreement.
READ MORE: Mike Tyson’s Own Bitcoin ATM Brand?