No I'm pointing out that grabbing random famous people and making an argument from authority is silly. Rich and famous people are wrong all the time, even one of the most successful geniuses of all time. (Who by the way was director of Britain's currency.) You were so lazy you'd didn't even point out whether any of those people had even made a public statement that Bitcoin is a commodity. Keep in mind there might be someone somewhere who both owns some Bitcoin and can properly use basic economic terminology. Boohoo. First you talk like an obnoxious, personally insulting jackass, now you want the riff Raff kicked out. Maybe you should look in the mirror.
it's so ironic that trump is making all these promises, but matter of the fact is the democrats are the ones in charge now. most people hate the shit out of ponzi cryptos anyways. The government will dump their tokens, take down Tether and make Trump look ridiculous (for endorsing a Ponzi scheme) A big win for the democrats. Tether and Bitfinex have always been the culprit and the rat nest of the crypto fraud industry. There has been no incentive to take action, more so the corruption prevented the government from taking action against these fraudsters. Now they can finally weaponize it against their opponents for political reasons. It might FINALLY happen. The nature might finally heal. This might be wishful thinking, but now there truly is hope and light at the end of the tunnel. This industry is nothing but fraud and a pure ponzi scheme. It needs to get taken down for good. Every day i wander how the F### is this still on-going. It's crazy to have a ponzi scheme at the center of the world stage. So absurd.
Crypto trader turns $1 million into $9k in an hour https://finbold.com/crypto-trader-turns-1-million-into-9k-in-an-hour/ In what can be considered the darker side of trading meme cryptocurrencies, a trader has lost a significant amount of money by betting on a token that had not proven itself in the market. Specifically, the trader recently saw a massive $1 million investment plummet to just $9,000 within an hour, according to data shared by Lookonchain on August 29. According to the analysis, the trader created a new wallet and used 7,156 SOL (valued at $1.03 million at the time) to purchase a meme coin named MBAPPE. This transaction, completed in a single move, quickly turned sour as the value of the meme coin nosedived, leaving the trader with a balance of only $9,200. It’s worth noting that the meme coin, launched on the Solana blockchain, was at one point linked to the French footballer Kylian Mbappé. However, it turned out that the token was a scam, promoted on social media mainly through the X account of Mbappé after it was hacked. The token’s market value surged quickly upon its release but soon lost all gains. Notably, several crypto players, such as Crypto.com, warned investors not to fall for the scam. The current situation seems to emulate the scams that have recently emerged, particularly following the popularity of celebrity-related meme coins, mainly on the Solana network. This incident highlights the dangers of investing large sums in relatively unknown and unproven digital assets, where market manipulation and illiquidity can result in catastrophic losses. MBAPPE scam beneficiaries On the other hand, not all traders suffered losses from betting on the scam token. As reported by Finbold, a trader turned a modest $29 investment into $125,000 in just three minutes by trading the MBAPPE coin. It’s worth noting that while meme coins can potentially return significant profits, investors often jump on celebrity-related tokens due to fear of missing out (FOMO). However, this approach has also led to notable losses, as previously reported by Finbold. For instance, a trader’s initial investment of almost $900,000 worth of Solana in the “Restore The Republic” (RTR) token—politically biased in anticipation of the U.S. presidential election—ended up with just 113.3 SOL in four hours. In summary, while established meme coins like Dogecoin (DOGE) have recorded significant profits for investors, thorough research is needed before investing in newly created tokens.
Americans lost a record $5.6 billion to crypto scams last year, says FBI—this is the No. 1 kind to watch out for https://www.cnbc.com/2024/09/13/how-to-identify-potential-cryptocurrency-scams.html
Here is the FBI Cryptocurrency Fraud Report for 2023... https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3CryptocurrencyReport.pdf
US charges 18 people, companies for cryptocurrency fraud https://finance.yahoo.com/news/us-charges-18-people-companies-190616663.html BOSTON (Reuters) - Four cryptocurrency companies and 14 individuals have been charged in what U.S. prosecutors on Wednesday said was the first criminal prosecution of financial services firms for market manipulation and sham trading in the crypto sector. Federal prosecutors in Boston charged the firms Gotbit, ZM Quant, CLS Global and MyTrade and their leaders and employees in a takedown that also involved arrests overseas. Five people have already agreed to plead guilty or have done so.
Well he's gonna be locked up... Hacking the SEC's X account to post fake information about Bitcoin to drive up the price is not very wise. Real men of genius. FBI Arrests Man Who Searched ‘How Can I Know for Sure If I Am Being Investigated by the FBI’ Eric Counsel Jr. is accused of helping to hack the U.S. Securities and Exchange Commission's X account in order to post false information about Bitcoin. https://gizmodo.com/fbi-arrests-man...i-am-being-investigated-by-the-fbi-2000513216
Yet another crypto fraud.... it seems they are announced daily at this point. Well it's another day that ends in "y". Fraudulent B.C. crypto platform fined $18.4M by securities regulator https://bc.ctvnews.ca/fraudulent-b-c-crypto-platform-fined-18-4m-by-securities-regulator-1.7130512 The British Columbia Securities Commission has fined a cryptocurrency trading platform and its director more than $18 million after finding the company lied to its customers by diverting nearly $13 million of their investments into gambling websites and personal accounts. The regulator says David Smillie and his company, 1081627 B.C. Ltd., which operated as ezBtc, must repay a combined $10.4 million that the commission says was obtained through the fraud between 2016 and 2019. As the company's director, Smillie must also pay a personal fine of $8 million for the misconduct, the regulator said in a statement Monday. EzBtc was a trading platform that told customers they could buy and sell various crypto assets while keeping their digital holdings securely offline, protecting them from cyber threats and unauthorized access, according to the BCSC. However, the regulator found that one-third of the customer assets on the platform were diverted to gambling websites and Smillie's personal accounts on other crypto-trading platforms. Approximately 935.46 bitcoins and 159 units of Ethererum cryptocurrency were wrongfully obtained by Smillie and ezBtc between 2016 and 2019, the regulator said. "The respondents' misconduct eroded trust in the capital markets," the BCSC panel wrote in its decision to impose the financial sanctions, adding that Smillie "blatantly and repeatedly lied to customers" and even threatened those who complained publicly. One customer testified that she experienced "loss of trust in Bitcoin, for sure, crypto currency in general, even banking to some degree," the regulator added. Smillie, who previously worked as a video editor for CTV News between 2001 and 2010, is permanently banned from participating in B.C.'s investment market, except as an investor through a registered advisor. EzBtc is similarly prohibited from trading or engaging in promotional activity indefinitely, the BCSC said.
North Korean hackers are said to have stolen $1,300,000,000 in crypto in 2024, an estimated 61% of the total funds swiped this year https://www.pcgamer.com/hardware/no...-percent-of-the-total-funds-swiped-this-year/