Share this article
Ex-Enron CEO Leaves Jail to Plot Possible Blockchain Venture: Report
The former CEO of Enron, Jeffrey Skilling, is reportedly looking to start a blockchain-related company just a month after being freed from prison.
Updated Sep 13, 2021, 9:01 a.m. Published Mar 25, 2019, 12:35 p.m.
Make us preferred on Google
The former CEO of Enron, Jeffrey Skilling, is reportedly looking to start a blockchain company just a month after being freed from jail for his role in the energy giant's massive accounting scandal back in 2001.
According to a Wall Street Journal article on Monday citing sources "familiar with the matter," Skilling may be planning a digital platform relating to investment in the oil and gas industry. They added that he has recently met former Enron execs, as well as specialists in cryptocurrency, blockchain and software development regarding the project.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In today's article, the WSJ sources also say that Lou L. Pai, former chief executive of Enron Energy Services, has said he will back the new platform.
The WSJ said it reached out for comment, but that neither Skilling nor Pai responded.
On Feb. 21, Skilling was freed after serving 12 years in prison for masterminding Enron's efforts to carry out one of the biggest corporate frauds in U.S. history.
Originally sentenced to 24 years and fined $45 million in 2006 after being indicted on 35 counts of fraud, insider trading and other crimes, Skilling's sentence was later reduced to 14 years by a U.S. district judge. He maintained his innocence throughout, according to reports.
Former Enron towers, Houston, image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Circle’s biggest bear just threw in the towel, but warns the stock is still a crypto roller coaster
Circle’s rising correlation with ether and DeFi exposure drives the re-rating, despite valuation and competition concerns.
What to know:
- Compass Point’s Ed Engel upgraded Circle (CRCL) to Neutral from Sell and cut his price target to $60, arguing the stock now trades more as a proxy for crypto markets than as a standalone fintech.
- Engel notes that CRCL’s performance is increasingly tied to the ether and broader crypto cycles, with more than 75% of USDC supply used in DeFi or on exchanges, and the stock is still trading at a rich premium.
- Potential catalysts such as the CLARITY Act and tokenization of U.S. assets could support USDC growth, but Circle faces mounting competition from new stablecoins and bank-issued “deposit coins,” and its revenue may remain closely linked to speculative crypto activity for years.
Top Stories
