Recently, there has been a lot of speculation about Enron, an energy firm that was at the center of one of the biggest frauds in history, that they will be developing a cryptocurrency project. But this is not the case.
Social networks received the news of the supposedly restructured company today. It suggested that Enron was going to relaunch in order to fight the “global energy shortage” with the help of decentralized technology; which seems to hint at a cryptocurrency start-up. It was spread by some prominent social media accounts and even some newspapers.
Really? I mean the press release was from a website created as a joke. It is the case that people accepted it as true while others mocked the post without knowing that it was all satire.
Enron was one of the top companies in America until its bankruptcy in the early twenty-first century. This event followed an accounting scandal which was the largest in history and cost investors $ 74 billion. Jeffrey Skillings, an ex-CEO of the region, was imprisoned for 14 years due to influencing the fraud. Another executive, Kenneth Lay, died before his sentencing.
The fact that some believed this fake announcement shows just how hyped the crypto market can get. Maybe people thought Enron was trying to follow in the footsteps of Martin Shkreli, the “pharma bro,” who turned to crypto after his release from prison.
Long story short—Enron isn’t coming back, and it’s definitely not launching a cryptocurrency.
