Editor’s Note: This is an update on Stew Peter’s meme coin, JProof. From what appears on jproof.ai, under the list for top traders who have made a profit, as seen above in the screen shot, a single trader, whose Crypto-Address begins with D4K has purchased $11,800 worth of Jproof in 8 transactions and sold them in 77 transactions, making a profit of $258,700. But the entire jproof trades, as seen in the right bar of the scree shot, show total purchases worth 3.7 million dollars and total sales of 3.4 million, with a difference of only $300,000 more or less. — That seems to mean, if I am reading the charts correctly, that a single person has pumped out of JPROOF a sum equivalent to all the net profits so far made on the coin, counting profit in real hard cash and not paper gains. — This does not mean that no one else made profits — as you can see from the screen shot, they have — rather, it means that his level of profiteering is truly significant, since there are more than 2800 persons who have purchased this meme coin.

Net profits means all profits minus all losses.

Correct me if I am wrong, you readers, who know more than I do about crypto spreadsheets.

Click the image to see the screen shot at full resolution, if you are using a tablet or pc to read this article. — The screen shot was taken at about 10:45 PM. New York City time, on April 18, 2025.

Again, as I say, I am no expert, but it seems to be that something is up, because normally profits are more evenly distributed. However, it does not necessarily mean that he is an inside trader, only that he has much more skill and experience than all the others; which is why I strongly encourage everyone never to get involved in cryptocurrency speculation. — See my previous reports and my disclaimers, HERE.

I am covering this story, not to promote the meme coin, but to educate my readers into its dangers and frauds.

News, Critiques and Warnings by Br. Alexis Bugnolo

I am not posting this news to promote Stew Peter’s new crypto-coin, but to warn my readers, as is my habit since 2013, of those things which are not what they appear.

ATTENTION: I am not a qualified financial adviser and declare that nothing I write here should be used to make any decision with your financial portfolio or monies, but that you should seek professional advice before making any such decisions. I write only on the basis of my own personal knowledge gathered over the years in non-academic settings. So what follows are only my personal opinions.

First, I never counsel or advise anyone to purchase or use cryptocurrencies, because they are not real things and have no fixed value and are exchangeables through which the unwary are often caused to lose vast amounts of money.

Cryptocurrency launches, indeed, as far as I know, are nearly always financial failures except for a few savvy and unscrupulous persons (see here for more information). These persons are not always the launchers of the coins either, this must be made clear.

First, the very nature of a nearly finite number of valueless-in-themselves digital currency coins is open to the worst kind of chichancery known as a ponzi scheme.  A ponzi scheme is where publicity is used to sell something through a network of individuals with promises of riches, but where the actual monies accumulated by the sale from one individual to another are not stored in anything of fixed value, such that in the end, those left holding the item own worthless things.

In Cryptocoin launches this happens thus: a small group of investors purchases some or all of the cryptocoin, and then negotiates its sale to  the public through some middle-man agency. Publicity is then used to hype the coin, and the hype psychologically convinces the unwary investor — who has little protection in law in most jurisdictions — to purchase the worthless coins with real money. The increased hype causes increased demand, which causes the coin to rise in value, sometimes to extraordinary heights in short periods of time.

Here is where the savvy but unscrupulous agents enter in, and as I said, they are not always the group of initial  investors. Let us calls them SBUAs for short, Savy But Unscrupulous AgentS.

The SBUAs purchase large quantities of the coin when it is nearly worthless. They do this through multiple accounts or through conspiracies hosted on other websites in private chats. They push the hype of the coin and watch the price rise. Once it has risen to a very high amount, they begin to sell their holdings in increments to balance with the rising purchases by unwary persons.

The result is that money is transferred from those buying the new Coin without much advice and independently, to those SBUAs who are involved in a conspiracy to hype the Coin. Human nature being what it is, some persons fearing loss, will sell before making much profit and others will sell when they see they are losing. These sales are watched and exploited so that the SBUAs can make quick profits.

So as much money goes into buying the Coin so much goes out to those SBUAs selling it.

We can see this metric happening live on Stew Peter’s $JProof Coin, as the screen shots below show.

In fact, one investor, is constantly purchasing low and selling high, and pumping 10s of thousands of dollars into an online Casino account, where the monies seem to be being laundered to unknown destinations. Indeed, when a cryptocoin is launched on a platform like Solera, anyone can come buy and reap the profits off the unsuspecting.

Now obviously, I would strongly urge you NOT to purchase this Coin, because unknowingly or not, Stew gave it a name ($JProof == Jew Proof) which guarantees that if you buy it you will create a legal presumption of being an “antisemite” and find it very difficult to find a lawyer or judge to hear any case you might have to make to defend your rights or seek damages from being defrauded. Not to mention that the name would incite Jewish extremists or Zionists to prey on the Christians owning it to suck out their life savings.

But from the lists of who is making lots of money off selling this Coin high after buying it low, and who is losing money, you can see what I have said being proven:

Here are those who might be SBUAs:

Who have made $21 to 74 thousand USD in a week or less, as of 8:30 AM Rome Time, Good Friday. And here are the big losers. As you can see, a lot of folks are losing their shirts, as we say in America, while a few are profiting on the losses of many others.

Finally, the manner of this new Cryptocoin launch is fraught with other problems which can cause you to lose money. First, it is offered on the Solera platform, so you first have to purchase Solera coins before you purchase $JProof coins, and you lose in the exchange or variation of that other coin.

Secondly, this coin is being launched by Stew Peters, who has promised never to sell the coins he owns. This is very problematic, because as soon as he sells one coin, he can be sued for fraud by the U. S. Securities and Exchange commission for making fraudulent claims. Also, he seems to be hyping the coin, and since a cryptocoin is a form of security, making statements about future value of the security is a crime in the U.S.A., though I am by no means a legal expert, you can find the regulations here:

Finally, I am by no means implying that Stew Peters is a SBUAs. SBUAs can infiltrate the sale of any cryptocurrency. But I think he has done a great disservice to his viewers by giving it a name which is guaranteed to brand everyone who buys it as an “antisemite”, “nazi”, “right-winger” and having launched it on the Solera platform, which ironically, is owned by Jews!

The Solera platform, which has been faulted by the SEC before, does not seem to be transacting the sales in an entirely equitable manner, because, inasmuch as I have seen, when a buyer buys X amount, the price rises by N in some cases, and 3 x N in other cases. Contrariwise, though you would expect that successive buys would cause the price to always increase, I have seen at least one buyer get a lower price on his buy even though it followed another buy. That makes no sense. Also, the website listing the prices seems to have a lag in the transactions, with numbers of buyers and sellers changing much ahead of the prices reported for each transaction, resulting in a lack of reliability in the information presented. This means that anyone with a higher speed access to the transaction data and a computer trading app could easily take advantage of all the investors in this new cryptocoin.

Those using Solera should read their information well to see just how Solera calculates the price offered and sold, because in a small thing like this, even a small clipping of the price could result in large profits for Solera and losses for all their clients.

And as it stands at 8:45 AM, Rome Time, April 18, 2025, it appears that the biggest holder (Stew Peters?) has made 10s of millions of dollars profit, on paper, from Peters’ many viewers who are taking his advice to buy it. In my book, that does not appear to be ethical. But since Stew himself decries this sort of thing in his opening video, which you can watch if you click the top image on this post, I am stunned that it might be him.

Nevertheless, I fear that in a short time, whether days, or weeks or months, the end result will be that those who trusted in Stew will have their life savings stolen by SBUAs and that his public reputation will be damaged beyond repair. Then the lawsuits will begin as his enemies solicit his past supporters to take legal action. And then all the good he has done will come to naught, but perhaps a jail sentence.

DISCLOSURE: I do not own nor intend to purchase any of these $JPROOF coins and have no financial or personal ties with Stew Peters. Neither he nor anyone, who to my knowledge owns or would own this coin, has solicited me to write this article, an advertisement for which I happened to see watching a totally unrelated topic video on his channel, without any expectation of seeing such an advertisement. I chose to write this article solely on my own initiative after examining the offering and watching what was happening to those who invested in it. I have written solely as a public service, and what I wrote I believe to be true, but if I am wrong in anything, please let me know in the comments below.