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2
News related to Crypto / Fake Trump Coin Offering Spreads Online
« on: April 16, 2024, 12:52:12 PM »Quote
An image circulating online appears to show a Donald Trump statement hawking "Trump Liberty Coins" that can be purchased cheaply and immediately exchanged at a bank for hundreds of times their value. But the supposed screenshot is fake, the former US president's 2024 campaign told AFP, and no such message appears on his website or Truth Social feed.
"I would like to thank all of my patriots that have shown their support throughout the years, and currently. The best way for me to give back to you is the Trump Liberty Coins project!" the supposed statement says.
"So Trump is raising money by selling Trump Liberty Coins for $149 and is telling buyers they can immediately sell it at Bank of America for $100,000," says Alan Rosenblatt, an adjunct professor at The George Washington University, in an April 11 post. "That really sounds like fraud."
Taken from this news site.
Scammers can really be so creative and they are watching current events to see potential personalities whom they use to victimize people. I think same strategy was successfully deployed in the past using famous names and celebrities to get the attention of many who can be influenced either to buy something or to share their private keys with the promise of airdrops. Sadly, there can still be some to fall victims to this scheme as everyday new people are entering the cryptocurrency industry and many of them are still starting in their learning curve on how to stay safe and secure navigating the many ins and outs of cryptocurrency. Were you once a victim of a similar-looking scheme to defraud you of your hard-earned money?
3
Philippines (Tagalog) / Bakit Mas Sikat at Ginagamit ang Binance sa Pilipinas?
« on: April 14, 2024, 04:46:26 AM »
Sa desisyon ng SEC na di na payagang maka-operate pa ng negosyo ang Binance dito sa merkado ng Pilipinas, sigurado ako na 100% ng mga crypto users dito sa atin ang nalungkot at di masyado nagustuhan ang pangyayari...pero bakit nga ba mas gusto ng mga Pinoy ang mag-trade sa Binance kumpara sa Coins.ph na matagal na sa negosyong ganito at sa PDAXX na medyo bago pa lang at lahat sila ay talagang rehistrado at legal na mga negosyo dito sa bansa?
Sa ganang akin, una ay talagang magaling ang Binance at si sila maging numero uno sa buong daigdig kung mahina silang klase lalo na sa mga features na talagang nakakatulong na mas madali ang pag-trade ng crypto...at sa larangan ng P2P di maitanggi ang Binance ang nangunguna dito sumusunod lang ang iba.
Sa larangan naman ng security at safety, dumaan na ang Binance sa matinding krisis nito ng ma-hack sila noong 2022 n umabot sa $750 millions pero imbis na manlumo ang Binance naka-recover sila at bumangon...at nagpatuloy sa pagiging isa sa mga nangungunang crypto exchange na may trading volume na $34.26 Trillion sa 2023.
Sigurado ako marami pang dahilan bakit naging sikat ang Binance sa Pilipinas...at sana yung ating mga local-based crypto exchanges ay matuto sa Binance kasi panahon na para sila naman ang susuyo at manalo sa merkado dito sa ating bansa.
Sa ganang akin, una ay talagang magaling ang Binance at si sila maging numero uno sa buong daigdig kung mahina silang klase lalo na sa mga features na talagang nakakatulong na mas madali ang pag-trade ng crypto...at sa larangan ng P2P di maitanggi ang Binance ang nangunguna dito sumusunod lang ang iba.
Sa larangan naman ng security at safety, dumaan na ang Binance sa matinding krisis nito ng ma-hack sila noong 2022 n umabot sa $750 millions pero imbis na manlumo ang Binance naka-recover sila at bumangon...at nagpatuloy sa pagiging isa sa mga nangungunang crypto exchange na may trading volume na $34.26 Trillion sa 2023.
Sigurado ako marami pang dahilan bakit naging sikat ang Binance sa Pilipinas...at sana yung ating mga local-based crypto exchanges ay matuto sa Binance kasi panahon na para sila naman ang susuyo at manalo sa merkado dito sa ating bansa.
4
News related to Crypto / SEC Officially Sends Statement of Intent to Sue Uniswap
« on: April 12, 2024, 05:22:54 AM »Quote
Uniswap founder Hayden Adams announced on Wednesday that the SEC had sent a Wells notice to Uniswap Labs, requesting compliance with law enforcement.
Hayden Adams, the founder of Uniswap, stated: “I’m not surprised. I just feel uncomfortable and disappointed, but we’re ready to face the challenge. I believe that the products we provide are legal and we are doing the right thing historically.”
Adams also expressed dissatisfaction with the SEC focusing on dealing with companies like Uniswap and Coinbase instead of addressing cases like FTX.
Information about law enforcement actions against Uniswap comes amid the SEC’s increasing focus on controlling cryptocurrency activities, especially with major companies like Coinbase, Ripple, and Binance.
Marvin Ammori, Legal Director of Uniswap Labs, described the SEC’s warning about law enforcement as “another abuse of power” and deemed the Wells notice “regrettable, but not surprising.” He also emphasized that Uniswap’s products comply with U.S. law and seek cooperation with reasonable regulations for cryptocurrencies, rather than continuing the abuse of power. Uniswap Labs is prepared to fight against this abuse and believes they will prevail.
Taken from this site here!
With the lawfare carried by SEC like a never-ending crusade supposedly to weed out scalawags from the cryptocurrency industry and to protect the people so they won't lose money, it is fighting many players whom it thinks can be doing things not accordance with the law of the land...and after many outfits as the receiving end of its power to regulate and prosecute, Uniswap is going to be added to its list.
1. Do you think this can hamper Uniswap in doing its business and will it affects its standing in the market?
2. Do you think SEC is just doing its job and is really doing things for the sake of protecting the small investors and users?
3. Which can be the next platform to experience the power of SEC and be facing possible charges?
5
News related to Crypto / After Sam, Former FTX Associates Are Next
« on: April 09, 2024, 01:11:29 PM »Quote
After Sam Bankman-Fried was sentenced to nearly a quarter-century behind bars for his involvement in financial wrongdoings, Caroline Ellison, Gary Wang, Ryan Salame, and Nishad Singh are up next to face consequences for their roles in the FTX debacle.
Post-conviction by a jury and subsequent sentencing by Judge Lewis Kaplan, FTX’s founder Sam Bankman-Fried is bracing for a prison term nearing 25 years. His former associates are now poised to confront their own sentencing phases. Despite some of them having cooperated with authorities, it doesn’t exempt them from potential incarceration. Ryan Salame, previously co-CEO of FTX Digital Markets, is slated to appear before Kaplan on May 1.
Read more of this development here!
What do you think about the co-conspirators in the FTX debacle? What are the many lessons we can gain from this development and do you think things that happened with FTX, Sam and his minions will have a strong impact on the cryptocurrency industry as a whole?
6
Cryptocurrency Trading / MOVED: Meet Goldfinch: A decentralized protocol that allows anyone to be a lender.
« on: April 09, 2024, 12:33:41 PM »7
News related to Crypto / IMF Urges Ukraine to Finalize Crypto Legislation
« on: April 07, 2024, 11:41:45 AM »Quote
The IMF has urged Ukraine to complete virtual asset legislation by the end of 2024 due to regulatory concerns and economic potential.
The International Monetary Fund (IMF) has urged Ukraine to finalize its update of legislation regarding virtual assets by the end of 2024, according to a Facebook post from Oleksandr Bornyakov, a deputy minister of digital transformation of Ukraine on IT industry development.
This requirement was outlined in the Memorandum of Economic and Financial Policies signed between Ukraine and the IMF, Bornyakov said, adding that the European international financial institution cited concerns about the current lack of regulation in the new sector, which poses risks to price stability and the effectiveness of monetary transmission.
Read more of this news here!
I am quite a bit interested with this development all because we know that in El Salvador this same IMF criticized the government of President Nayib Bukele when his administration made BTC as its official currency and reserve. There seems to be a softening of this assessment as they are seeing some good benefits of cryptocurrency for the economy and in the case of Ukraine which is still at war with Russia IMF is seeing it as a tool and an opportunity that can help its people and its economy to rebound in the midst of its gravest crisis ever.
8
News related to Crypto / Goldman Sachs CIO: Crypto Is Not an Investment Asset Class
« on: April 05, 2024, 03:58:00 AM »Quote
The chief investment officer of Goldman Sachs’ Wealth Management unit does not see cryptocurrency as an investment asset class. She also believes that bitcoin “creates absolutely no value in any shape or form.” Her perspective differs from that of some other Goldman Sachs executives regarding bitcoin and cryptocurrencies.
The chief investment officer of Goldman Sachs’ wealth management unit, Sharmin Mossavar-Rahmani, discussed her perspective on bitcoin and other cryptocurrencies in a Wall Street Journal interview last week. Mossavar-Rahmani has served as the chief investment officer of Goldman Sachs Wealth Management for the past 23 years.
She compared the recent crypto enthusiasm to the tulip mania of the 1600s, dismissing it as nothing more than a means of speculation.
Read more details here!
What do you think about Goldman Sachs’ Sharmin Mossavar-Rahmani stating that crypto is not an investment asset class and that bitcoin has no value? Seems to me that even in a big financial institution like Goldman Sachs which is already adding the business of cryptocurrency into its mix of services, we can still find "dinosaur" people who are adamant in their position on cryptocurrency or Bitcoin for that matter. I guess we could not blame them as they can have a hard time grasping the idea of something that can't be seen, heard, touch and is generated via computing power can be as valuable as it is today.
9
News related to Crypto / Fake NFT Project Hack? CTO Vanishes After Allegedly Stealing 94 SOL
« on: April 04, 2024, 02:43:46 PM »Quote
A new rug pull alert sounded on Tuesday after crypto detective ZachXBT unveiled on-chain details of an alleged hack suffered by an NFT project last month. The project’s CTO announced that a response was in the works but ultimately vanished as criticism grew.
On-chain sleuth ZachXBT revealed the alleged misuse of funds by the CTO of NFT project Nuddies NFT. In a now-deleted post, its CTO Kyle explained that the project was “derugged from its previous founder” and built differently from other NFT projects.
According to the crypto detective, Kyle faked a hack that seemingly stole the project’s funds. On March 3, the alleged culprit posted on the Nuddies NFT Discord server, informing us of the hack.
The post affirmed that Kyle’s Mac was hacked despite “not clicking in any malicious link.” The CTO concluded that a “zombie process” was on his computer for an undetermined period.
Read more details here!
This is a very interesting rugpull story and to think that it just involved 94 SOL which is just around $17K at the current market price. Oh well, this is just telling us how low scammers can get in fooling people as they would fly away in the face of challenges confronting them. Let's hope that there will be many stories like this in 2024 and 2025 as we are expecting more people to be coming in to the cryptocurrency industry. This again solidifies my conviction to never get involved with NFT not unless am just receiving them for free.
10
News related to Crypto / Lawmakers Ask SEC Chair Gensler to Clarify Whether ETH Is a Security
« on: April 02, 2024, 05:55:09 AM »Quote
Forty-eight U.S. lawmakers sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler last week regarding ether (ETH) potentially being classified as a security by the Commission.
They explained that both the SEC and the Commodity Futures Trading Commission (CFTC) “have long-recognized ETH as a non-security digital asset or digital commodity.” In October 2023, the SEC also approved nine exchange-traded funds (ETFs) that provide exposure to ETH through CFTC-regulated ETH commodity futures products.
Read more of this here.
Gary Gensler is on the headline again as the lawmakers above are showing concern of the seemingly weak position of SEC on Ethereum most especially that there is a big possibility for the approval of ETFs for ETH. Once and for all, it is time for SEC to classify ETH as non-security so they can laid this issue to rest and the market would not be feeling the jitters triggered by the supposed inquiry into Ethereum received by the Ethereum Foundation. Aside from dealing with this issue, am in the position that Gary Gensler is not doing anything good for the cryptocurrency industry we need a better man that can implement laws but at the same time will not choke the industry to slow death.
11
News related to Crypto / B.C. probes QuadrigaCX co-founder's hoard of gold bars, a Rolex & cash
« on: March 30, 2024, 03:29:39 AM »Quote
Officials seeking court order to compel Michael Patryn to detail how he acquired seized assets, including $250,200 in cash. Provincial officials in Canada are trying to force the surviving co-founder of defunct crypto exchange QuadrigaCX to explain how he came by a cash hoard, 45 gold bars and jewelry including a diamond-studded Rolex.
The Director of Civil Forfeiture in British Columbia on Wednesday sought a court order to compel Michael Patryn to detail how the seized assets — including $250,200 in cash — were acquired.
Read more here.
What happened to the QuadrigaCX exchange is considered to be one of the most baffling in the history of cryptocurrency and until now there remains to have big questions and concerns on the death of its young founder Gerald Cotten in 2018 while traveling to India due to complications from Crohn’s disease as he was the only person who can access access to passwords for the digital wallets with $180 million worth of value which left many investors scrambling on what to do. And now we have its co-founder Michael Patryn investigated on how he acquired some wealth raising some suspicions that the money was then coming from the exchange which he stole with the help of Cotten. I am hoping that investigators would not stop to dig into this matter so that something can be returned to those who lost money in QuadrigaCX. By the way, for those who are interested with the QuadrigaCX scandal there is a Netflix documentary tiled "Trust No One: The Hunt for the Crypto King" that you can explore.
12
Meme Coins / Mesmerized by Meme Coins?
« on: March 27, 2024, 04:30:21 AM »There is no question that we are now in the new er where cryptocurrency is here to stay and will continue to even grow further into the future and with its influence already now recognized by many financial institutions and many governments we can be sure its future will be solid, strong and prosperous albeit the presence of government's regulatory power can be creating some tug-of-war from time to time.
Within the cryptocurrency industry, one of the many things that really mesmerized me is the commanding presence of meme tokens. As defined, meme token or coin "is a term used to refer to cryptocurrencies named after characters, individuals, animals, artwork, or anything else that can be mimicked. Most are supported by enthusiastic online traders and followers and are generally intended to be light-hearted and fun. While meme coins may be entertaining to some, they are also highly risky investments and may hold little or no intrinsic value." Considered as the official meme coin, Dogecoin was released intended as a joke but then it slowly catches fire and supporters and today it even got Elon Musk as its most famous supporter and promoter...such an achievements are certainly not a joke, for sure.
In my humble view, I would compare meme coins or tokens to comedy movies which are intended to make people laugh and be entertain but looking at them as a business model they can be bringing in gargantuan money to the box-office with the support of the viewing public.
What are the meme coins included in your portfolio as we are waiting for the bullish season to peak in 2024 and 2025?
13
News related to Crypto / Bitcoin Price at $100k by September 2024: Robert Kiyosaki
« on: March 26, 2024, 08:57:58 AM »Quote
Robert Kiyosaki, author of the renowned personal finance book “Rich Dad, Poor Dad,” predicts $100,000 Bitcoin by September and views the current economic landscape.
Kiyosaki, known for his insights on wealth-building and investment, announced his plans to purchase 10 more Bitcoin before April, emphasizing the upcoming Bitcoin halving as a significant event for potential investors.
He suggests that those who cannot afford a whole Bitcoin might consider buying a fraction of one through the Bitcoin ETFs or Satoshis, hinting at the possibility of owning an entire Bitcoin by year’s end if the process unfolds as expected.
Taken from here: https://crypto.news/robert-kiyosaki-predicts-100k-bitcoin-by-september/
The bullish season of Bitcoin 2024 is also the time when the media seems to be getting fond of Bitcoin evangelist Robert Kiyosaki as he is not shy to predict a rosy picture for this asset. Known to also love gold and silver, he had since then embraced Bitcoin as part of his own portfolio and is always telling others to follow the same path towards financial independence. His latest prediction of September 2024 BTC at $100K seems to be doable...in fact in my own opinion this is already too long because I am hoping the $100K level to happen around June or July. Anyway, these are all speculations and only time can validate with whatever we are saying here since nobody actually possesses the crystal ball of the future. So what do you think...do you have a good prediction of your own for Bitcoin within the time-frame of 2024?
14
News related to Crypto / Dems Ask SEC's Gensler to Block Approval of More Crypto ETPs
« on: March 18, 2024, 10:25:16 AM »Quote
Two Democrat Senators are urging the Securities and Exchange Commission (SEC) to block any further crypto exchange-traded products (ETPs) to protect retail investors from risks associated with poor broker disclosure and thin liquidity in major cryptocurrencies.
Sen. Jack Reed (D-R.I.) and Sen. Laphonza Butler (D-CA) write that a FINRA survey disclosed that 70% of brokers’ communications with retail investors violated fair disclosure rules.
The Senators also argue that by naming bitcoin exchange-traded funds as such, the name “obfuscates important characteristics about these investments.”
“Retail investors should be made aware of how these ETPs differ from more common funds which they may have experience,” they said in the letter, writing that bitcoin is not subject to the same protections under the Investment Company Act of 1940 that ETFs which hold shares of various companies would have.
Read more here: https://www.coindesk.com/policy/2024/03/15/democrats-ask-secs-gensler-to-block-approval-of-more-crypto-etps/
Though I am a little bit sympathetic with the concerns raised by the two Democrat senators, one thing is clear to me that there are more people in the Democratic Party who are not so friendly with the cryptocurrency industry although they received a lot of donations coming from famous players like SBF. So can we then expect that SEC will put a halt with approving more ETFs into the future and do you think this can be affecting the ETF for ETH?
15
News related to Crypto / Derogatory Elizabeth Warren Meme Coin Deleted From Coinbase
« on: March 14, 2024, 03:19:00 AM »Quote
The token targets a U.S. senator who has frequently criticized the cryptocurrency industry. Meme coin traders are flocking to a derogatory cryptocurrency that attacks Elizabeth Warren, the Massachusetts senator and prominent crypto critic. Meanwhile, cryptocurrency exchange Coinbase is running awkwardly in the other direction.
The trading giant on Wednesday nixed a webpage that for a short while promoted "how to buy Elizabeth Whoren in United States." Links to the auto-generated webpage instead reverted to a more generic hub for buying crypto in general.
"These pages are automatically generated based on tokens that have been created by third parties," a Coinbase spokesperson said in a statement. "They are informational only, do not endorse any asset, and do not indicate that the assets are available for trading on Coinbase."
Read more here: https://www.coindesk.com/business/2024/03/13/coinbase-nixes-page-promoting-elizabeth-whoren-meme-coin/
Just like many people in the world of Bitcoin and cryptocurrency, I am not a big fan of Elizabeth Warren not only because she has been the big voice opposing cryptocurrency by espousing many ideas and proposals to limit the growth of the industry and subsequently kill it but also because she is part of the leftist leaning side of the Democratic Party bent on controlling people according to their socialism ridden principles. And finally, this anti-Elizabeth response is being encapsulated with her own meme coin called as Elizabeth Whoren...a name which is really derogatory, to be honest. Maybe they can think of something else so that there can be more supporters of this meme coin. Would you be willing to buy and take some risks with this Whoren coin?
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