TradeTribe is a bitcoin multilevel marketing company.
On April 4th, 2024, TradeTribe’s website domain (“tradetribe.xyz”) was privately registered.
Co-founders “Trader Jake,” Brian Rhodes, Tim Waider, and David Mercado are in charge of TradeTribe.
By April 2021, Waider was using YouTube to advertise multilevel marketing cryptocurrency Ponzi scams such as EtherConnect:
Since then, Waider has supported MLM Ponzi scams such as InvesableAI, FastBNB, BitMonsters, and Nimbus Platform.
I had assumed Master Trader Jake was from Hungary based on my earlier study on Capitalium. Regretfully, I was unable to determine his true name.
There are no retailable goods or services offered by TradeTribe.
Only the TradeTribe affiliate membership itself may be promoted by affiliates.
Affiliates of TradeTribe invest in Tether (USDT). On the basis of the promised passive returns, this is done:
The aforementioned ROI rates are raised by 5% if a TradeTribe affiliate purchases a “VIP Package” for $250 USDT.
Recruiting affiliate investors is how TradeTribe’s multilevel marketing division makes money.
TradeTribe uses a unilevel compensation system to pay referral commissions.
Every individually recruited affiliate is positioned right behind the top affiliate in a unilevel pay scheme (level 1):
New affiliates are added to level 2 of the original affiliate’s unilevel team if any level 1 affiliates hire them.
Level 2 affiliates get promoted to level 3, and so on, down an almost limitless number of levels, if they bring on new affiliates.
Payable unilevel team levels are limited to five by TradeTribe.
The following is how referral commissions are distributed across these five tiers, expressed as a percentage of USDT invested:
TradeTribe affiliates are eligible for larger rewards if they pay $250 USDT.
TradeTribe pays commissions utilising the same five-level deep unilevel team referral system as is used to pay commissions for the $250 USDT VIP Package (see “Referral Commissions” above).
When downline affiliates get passive returns, TradeTribe matches their ROI.
The same five-level deep unilevel team referral commissions that are used to pay out TradeTribe’s ROI Match are also used to pay out referral commissions (see “Referral Commissions” above).
Affiliate membership on TradeTribe is free.
A minimum of $500 USDT must be invested in order to fully participate in the linked income opportunity.
A 5% boost is added to monthly passive returns with an extra $250 USDT cost.
The website boasts of disrupting the global financial environment and changing the face of money in the future. Scammers often utilize such inflated claims to entice unwary people.
Limited verifiable information about the business, its employees, or its actual location is available on the website. Reputable financial sites often provide clear details about how they operate.
The website provides a number of high-risk financial services, including cryptocurrency arbitrage and flash loans, but it does not clearly comply with regulations or sufficiently describe the hazards involved.
As is typical in cryptocurrency frauds, the website advertises CLHC, its native coin. Platforms that actively advertise their own coins might raise suspicions among investors.
Testimonials from people in other nations are included on the website, however they can be faked to give it a false impression of validity.
Without hard proof of present performance, the comprehensive strategy and aspirational goals for the future, such as branching out into other industries, may be a ploy to draw in investment.
TradeTriber pitches consumers on passive returns of up to 20% a month, purportedly generated via “Master Trader Jake’s” trading efforts.
The first red flag of MLM due diligence is “Master Trader Jake,” who is using a pseudonym.
TradeTribe’s involvement in securities and commodities fraud is your second MLM red flag.
US citizens make up two of TradeTribe’s co-founders. The SEC oversees securities regulation in the United States. The CFTC regulates trading in commodities.
TradeTribe’s business plan qualifies as an investment contract under the Howey Test:
The investment opportunity offered by TradeTribe is a securities offering as it is an investment contract.
Because “Master Trade Jake” is allegedly making money from trading, registration with the CFTC or a comparable national body is necessary.
TradeTribe and its co-founders are not registered, according to a review of the SEC’s Edgar database. Neither TradeTribe nor its co-founders have a CFTC registration.
SimilarWeb monitored all of TradeTribe’s sites from Austria as of June 2024. The FMA oversees securities regulation in Austria.
TradeTribe does not provide proof that it has an FMA registration. TradeTribe is thus, at the very least, engaging in demonstrable securities and commodities fraud.
The SEC cautions customers that Ponzi schemes and securities fraud are closely related. TradeTribe is most likely only recycling invested money to pay ROI withdrawals since it lacks a credible external income stream.
Like other MLM Ponzi scams, fresh money will stop coming in as soon as affiliate recruiting stops.
TradeTribe will ultimately fail as a result of this deprivation of ROI income.
Ponzi schemes’ mathematical foundation ensures that most participants lose money when they fail.
The fall of Capitalium is a perfect example of this mechanism in action.
Given Trade Tribe very low trust score, there is a good chance that the website is a hoax. Use caution when accessing this website!
Our algorithm examined a wide range of variables when it automatically evaluated Trade Tribe, including ownership information, location, popularity, and other elements linked to reviews, phony goods, threats, and phishing. All of the information gathered is used to generate a trust score.
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