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Krisanaphon Detrafifat | Moments | Getty ImagesInvestors are at increased risk of cryptocurrency scams tied to fake relationships established on social media, dating apps and networking sites, federal officials have warned.These scams occur when scammers use dating apps, social media platforms, professional networking sites, or encrypted messaging apps to pretend to be a romantic interest, old friend, investment professional, or other acquaintance. It happens.Scammers gain the trust of their targets over time. At some point, they come up with the idea of investing in cryptocurrencies and scam the victims through fake investments.Personal Finance Details:How to avoid the top scams of…
US stocks fell on Monday afternoon as the 10-year US Treasury yield (^TNX) rose above 4% for the first time since August, ahead of key inflation data and the start of earnings season.The Dow Jones Industrial Average (^DJI) fell 1.2%, about 400 points, after hitting a record high last week after closing sharply higher. The S&P 500 (^GSPC) fell more than 1%, and the tech-heavy Nasdaq Composite Index (^IXIC) also fell more than 1.1%.Shares fell to session lows with about an hour left in trading after a judge ordered Alphabet (GOOG, GOOGL) to open up Google’s app store business, Google…
In the past 24 hours, Litecoin LTC/USD price decreased by 3.58% to $64.97. It has experienced a 2.0% decline over the past week and continues its negative trend from $67.25 to the current price. The chart below compares Litecoin’s price change and volatility over the past 24 hours (left) to its price change over the past week (right). The gray bands are Bollinger Bands, which measure the volatility of both daily and weekly price changes. The wider the band, or the greater the gray area at any given moment, the greater the volatility. Over the past week, the coin’s trading…
Tether, which operates the USDt USDTUSD stablecoin, announced on October 7th that it had more than 350 million users, just 10 years after its launch in 2014. Tether has seen a 24% increase in user numbers over the past 12 months, with approximately 282 million users as of October 2023, according to a blog post from the stablecoin issuer. Prior to that, in 2022, it boasted only half that amount. It has approximately 141 million users.stable coinWhile Tether cannot claim the title of being the first stablecoin, that distinction belongs to BitUSD and NuBits, it currently holds the highest market…
The new Ethereum improvement proposal EIP-7781, introduced on October 5, 2024, aims to reduce Ethereum’s block time from 12 seconds to 8 seconds. Introduced by Ben Adams, co-founder of Illyriad Games, the upgrade also provides enhanced data capacity, potentially increasing network throughput by 50%. A big step towards the future of Ethereum In an October 6 post to They suggested that implementing this could reduce network bottlenecks and improve data capacity. EIP-7781 is designed to expand the capacity of “blobs,” temporary data structures that reduce charges in Layer 2 (L2) networks. The proposed changes aim to increase mainnet throughput while…
IOTA’s decentralized technology could serve as the basis for a compliant stablecoin. Trade and logistics information pipelines enable secure and efficient exchange of electronic trade documents. As the European Market for Cryptoassets (MiCA) regulations reshape the cryptocurrency landscape, IOTA’s decentralized and scalable technology could establish itself as the basis for new compliant stablecoins. IOTA’s lean and efficient framework makes it an interesting candidate in the search for the next big player in digital assets. The launch of MiCA marks a new beginning for regulation in the EU cryptocurrency market and will lead to increased responsibility for the industry. This regulation…
Bernstein analysts set a $290 price target on MicroStrategy’s MSTR stock, representing a potential 64% upside, based on the company’s aggressive Bitcoin acquisition strategy, according to a new report. It is said to be equivalent to What Happened: MicroStrategy, led by Executive Chairman Michael Saylor, has amassed roughly $16 billion worth of Bitcoin BTC/USD holdings, making it one of the top 10 holders of the cryptocurrency. Bernstein analysts Gautam Chughani, Mahika Sapra, and Sanskar Chindariya praised Saylor’s approach, saying, “Michael Saylor pioneered the Bitcoin financial model for businesses.” DL News reported on Monday. The analysts’ optimistic outlook is rooted in…
Cryptocurrency analyst Murad Makhmudov predicts a “memecoin supercycle” that could completely change the crypto landscape in the coming years. What Happened: In a recent podcast, Mahmudov shared an unconventional theory as to why meme coins are poised to outperform traditional crypto assets. He argues that the cryptocurrency industry is primarily an “asset production and speculation industry” rather than a technology-first sector. Analysts believe that memecoins are not just a passing trend, but represent a fundamental shift in how retail investors approach cryptocurrencies. “I am a community maximalist,” he says, emphasizing the importance of a strong and passionate community in increasing…
To celebrate its 10th anniversary, Tether will release a documentary about USDT and its impact on fighting inflation. The documentary “Stability and Freedom in Chaos” depicts how USDT became a “lifeline” for those fighting inflation and promoting “economic freedom around the world.” 🎬Today marks the 10th anniversary of USD₮! To commemorate this occasion, we will soon be releasing a documentary titled “Stability and Freedom in Chaos”. how to travel $USDT is a lifeline for millions of people, fighting inflation and promoting economic freedom around the world. 🌎🤝 pic.twitter.com/oviKmIgpgx— Tether (@Tether_to) October 6, 2024 Commenting on the documentary’s release, Tether CEO…
Two recent forfeiture cases filed by the U.S. Attorney for the District of Columbia reveal new insights into how North Korean cryptocurrency hackers launder stolen funds. Specifically, the U.S. government is moving to seize approximately $2.67 million in virtual currency associated with the Lazarus Group. These funds were stolen in two major hacks targeting Deribit and Stake.com. The first forfeiture claim involves $1.7 million worth of Tether (USDT) that was discovered in November 2022 when Lazarus Group hacked crypto options exchange Deribit for $28 million. North Korean hackers accessed Deribit’s hot wallet, exchanged the assets for Ethereum, funneled the assets…