Floyd Mayweather, the undefeated boxing champion, is facing allegations of promoting a suspicious cryptocurrency token. Pump and Dump Suspicions Mayweather has been accused of promoting several unregistered cryptocurrency ventures without disclosing payments. Critics believe these promotions are “pump and dump” schemes, where celebrities artificially inflate prices before cashing out. Mayweather’s latest alleged offense involves the…
Biometric Payments on the Horizon JPMorgan Chase is reportedly gearing up to launch a biometric payment system that will allow shoppers to pay with their face or palm. The system is expected to roll out widely next year, according to American Banker. Pilot Programs Prove Successful The system has been tested in pilot programs with…
Trader Inmortal predicts a massive rally for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and an Ethereum-based altcoin. API3: The Altcoin Poised for a Surge Inmortal highlights API3, a decentralized data oracle network, as the altcoin ready to “get sent.” He cites API3’s recent funding round and bullish technical indicators. Inmortal’s chart suggests that API3 could…
Background: City National Bank (CNB), known as the “bank to the stars,” is facing a lawsuit alleging it helped facilitate a Ponzi scheme that defrauded hundreds of investors. Allegations: The lawsuit accuses CNB of providing millions of dollars in loans to Zachary Horwitz, the mastermind behind the scheme. Horwitz allegedly used the money to fund…
Inflows Surge Digital asset manager CoinShares reports that institutional investors poured a staggering $2 billion into crypto products last month. Weekly Flows Last week, digital asset investment products saw $185 million in inflows, bringing the total year-to-date inflows to over $15 billion. Regional Breakdown The US led the way with $130 million in inflows, followed…
Despite the recent dip below $70,000, crypto analyst Peter Brandt remains bullish on Bitcoin. He predicts that the cryptocurrency could surge to $150,000 by 2025. Bitcoin’s Halving Cycle Brandt’s prediction is based on Bitcoin’s halving cycle. Every four years, the rewards for mining Bitcoin are cut in half, reducing supply and potentially increasing demand. Past…
Unauthorized Trading A Chinese crypto trader named CryptoNakamao lost $1 million from his Binance account on May 24. The incident occurred when a malicious Google Chrome extension hijacked his Binance session. Plugin Theft The Aggr Chrome plugin stole CryptoNakamao’s web browsing and cookie data, allowing the hacker to access his Binance account without needing his…
Tax Evasion Allegations Michael Saylor, a Bitcoin advocate and chairman of MicroStrategy, has agreed to pay $40 million to settle a tax fraud lawsuit. The lawsuit alleged that Saylor evaded over $25 million in income taxes while living in Washington, D.C. Saylor initially denied the allegations, claiming he was a Florida resident. However, the settlement…
Halving’s Impact on Bitcoin’s Value Chamath Palihapitiya, a well-known investor, believes that Bitcoin’s upcoming Halving event could drive its value to $500,000. Halving is a scheduled event that occurs every four years, where the number of Bitcoins rewarded to miners is cut in half. Historically, Bitcoin’s price has shown significant increases after Halving events. Palihapitiya…
Regulatory Milestone Hong Kong’s Securities and Futures Commission (SFC) has given the go-ahead to 11 crypto exchanges to keep operating in the city. This is the first step towards issuing licenses for virtual asset trading platforms (VATP). Hong Kong wants to become a major crypto hub, like Singapore and Dubai. Approved Exchanges Among the approved…
