Saturday 7 September 2024

News of the Crypto

Here are some of the latest updates in the world of cryptocurrency:

Donald Trump’s Crypto Token: Former President Donald Trump is set to become the “chief crypto advocate” for World Liberty Financial, a new crypto project involving his three sons and other key individuals. This project could potentially create a conflict of interest if he wins the 2024 US presidential election.

Crypto Scams on the Rise: The FBI has reported a significant increase in crypto investment scams, with losses rising from $3 billion in 2022 to $4.5 billion in 2023. In the first half of 2024 alone, over 18,000 complaints were filed, amounting to more than $1.9 billion in losses.

Market Movements: Bitcoin recently experienced a price swing, dropping below $54,000 following the latest US jobs report4. This volatility led to nearly $50 million in liquidated leveraged derivatives positions across all cryptocurrencies.

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