Dutch regulator warns of crypto pump-and-dump risks ahead of MiCA

The Dutch AFM issued warnings about crypto market manipulation, focusing on pump-and-dump schemes ahead of MiCAs implementation in December.

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FBI seizes $6M from crypto scammers targeting US citizens

Tether said it aided in recovering the stolen crypto by freezing the scammers wallets, which the FBI then seized.  

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Rising Coordination of Crypto Market Manipulation Schemes

Cryptocurrency Market Manipulation Tactics Exposed Are shady tactics influencing the cryptocurrency market? A recent investigation has shed light on various manipulation schemes used to distort prices and deceive investors. The cryptocurrency market, known for its volatility, has become a hotspot for market manipulation. From pump-and-dump schemes to spoofing and wash trading, there are numerous ways [...]

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Robert Kiyosaki Sees Bitcoin as Perfect Asset at the Right Time Calls US Dollar Giant Ponzi Scheme

Rich Dad Poor Dad author Robert Kiyosaki has answered multiple questions about bitcoin and the U.S. dollar. Declaring that he is a bitcoin bull, the famous author said the cryptocurrency “is the perfect asset at the right time.” While acknowledging the possibility of bitcoin “going to zero,” he countered by suggesting that fiat currencies like [...]

The post Robert Kiyosaki Sees Bitcoin as Perfect Asset at the Right Time Calls US Dollar Giant Ponzi Scheme appeared first on Crypto Breaking News.

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Crypto industry leaders ‘scared of a strong SEC’ — Senator Warren

Senator Elizabeth Warren claims the Trump Administration “gave a green light” to a cryptocurrency market full of junk tokens, rug pulls and Ponzi schemes.

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What is wash trading? Why is it illegal in 2023?

The crypto market is plagued with a plethora of trading mechanisms, that are both twisted and illegal. Investors are looking to make quick money, and as a consequence take up practices that are not only illegal but also weaken the crypto space in general. As informed users who intend on making educated and fruitful financial […]

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Billionaire investor Bill Ackman says 'crypto is here to stay'

Bill Ackman’s conviction on crypto comes as much of the community attempts to regain confidence in the industry following the FTX fallout.

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FTX is done — What’s next for Bitcoin, altcoins and crypto in general?

FTX is gone, and it looks like many centralized crypto platforms will fall with it. But is there a silver lining?

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JPMorgan CEO slams crypto as ‘decentralised Ponzi schemes’

JPMorgan (NYSE: JPM) CEO Jamie Dimon has slammed cryptocurrencies, pointingly mentioning Bitcoin (BTC), as nothing but ‘decentralised Ponzi scheme.’

Dimon’s fresh criticism of crypto came during a US House Committee Oversight hearing on Wednesday.

The JPMorgan executive, who has previously referred to Bitcoin as a “fraud,” told lawmakers that he remains sceptical about crypto and does not see how anyone can claim they are of value when billions are lost in various scams.

“I’m a major skeptic on crypto tokens, which you call currency, like Bitcoin. They are decentralised Ponzi schemes, and the notion that it’s good for anybody is unbelievable.”

Reiterating his view, he went:

“So we sit here in this room and talk about a lot of things but two billion dollars has been lost every year, 30 billion dollars. And ransomware, AML, sex trafficking, stealing…it is dangerous.”

Dimon also talked about stablecoins and the need for proper regulation of these in the United States.

According to him, stablecoins should be regulated just as are money market funds, remarks that come as a proposed bill seeks to prohibit the issuance or creation of endogenously collateralised stablecoins. As Invezz reported late July, that bill had been delayed as Congress proceeded for recess.

But while Dimon remains overly critical of bitcoin, he acknowledged blockchain is real and does have value; as are decentralised finance (DeFi), smart contracts and ledgers among other aspects of the digital assets and emerging financial technology space.

Indeed, JPMorgan has increasingly moved towards blockchain-based implementations across its financial services and continues to invest in companies and startups using the technology.

The banking giant also has a custom blockchain and in-house token – JPM Coin, which it uses as a dollar deposit and which institutional investors can tap into for collateralised short term loans.

The post JPMorgan CEO slams crypto as ‘decentralised Ponzi schemes’ appeared first on Invezz.

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Mozilla Foundation Suspends Crypto Donation; Co-Founder Said it is a “Planet-Incinerating Ponzi”

The crypto drama is endless; this time, the big guns are trained on Mozilla Foundation, the organization powering the Firefox internet browser. On December 31, 2021, Mozilla Foundation excitedly tweeted that it was accepting various coins, including Dogecoin, Ethereum, and Ethereum, as crypto donations. This was good news and was... Read More

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South Park Is More Bullish On NFTs Than You Think

Surprisingly, the South Park NFT references aren’t as negative as the coverage of the special has made it seem. Covered: The South Park Special’s Many Crypto References Are NFTs Just Ponzis? The South Park Special’s Many Crypto References South Park’s latest special — with a name I will avoid for potential SEO repercussions — delves […]

The post South Park Is More Bullish On NFTs Than You Think appeared first on CryptosRus.

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SEC Alerts Public About Unauthorized Investment Schemes in the Philippines

The SEC has issued a warning about several unauthorized investment schemes operating without necessary licenses.

The post SEC Alerts Public About Unauthorized Investment Schemes in the Philippines appeared first on BitPinas.

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The Fall of Medici Bank: Lessons on Fractional Reserve Banking From 15th Century Italy

Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its prime, and the prominent Italian family of bankers [...]

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Researchers in Singapore design new ‘more efficient’ DAO scheme

A team of researchers at the Singapore University of Social Sciences recently conducted an appraisal of existing decentralized autonomous organization (DAO) voting schemes to determine which was most efficient.  The researchers ultimately concluded that existing popular voting schemes each had their drawbacks and advantages and that a new paradigm combining what they considered to be [...]

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Crypto Fraud Surge: Chainalysis Reports Rising Pump-and-Dump Schemes

As per the blockchain forensic company Chainalysis, by 2024, about 5% of the crypto tokens launched in the market had characteristics of pump-and-dump schemes. The findings by the firm published on the 29th of January show that fraud remains a significant issue in the crypto space. According to a recent report,  there were more than […]

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Gary Gensler: Crypto market is like 1920s stock market, full of 'fraudsters'

Gensler argued that securities laws helped prevent stock market scams once they were passed in the 1930s and can benefit the crypto market of today.

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Louisiana Senator Compares Modern Banks to ‘Sophisticated Ponzi Schemes’

Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden administration in mid-March for bailing out Silicon Valley Bank and Signature Bank, emphasizing [...]

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Pheu Thai Candidate Promises Digital Currency Airdrop of $300 to Every Citizen in Thailand if Elected

A Pheu Thai candidate running for prime minister of Thailand position, Srettha Thavisin, has promised that every citizen in the country will receive 10,000 Thai baht ($300) in digital currency if he wins the general election in May. However, a minister within the prime minister’s office in Thailand is concerned and has explained that the [...]

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Ukraine, US Shut Down 9 Cryptocurrency Exchanges

Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust Crypto Exchanges in Ukraine Officers from Ukraine’s Cyberpolice unit and Main Investigative Department, working with

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