cryptonewstoday

FBI Issued Advisory to Counter Crypto Scams in Investment
The cryptocurrency market is undergoing exponential growth, with tokens continuously gaining value and attracting new investors. However, this surge in interest has also led to a significant increase in crypto scams in the Investment sector. The Federal Bureau of Investigation (FBI) has raised warnings about this concerning trend and notes a 53 percent rise in crypto investment scams over the past year and it is in line with Immunefi's report on Crypto Loss.

Increase in Crypto Scams:

According to the FBI's latest report, fraudulent activities in the crypto investment ecosystem have resulted in approximately $3.94 billion in losses, marking a substantial increase from the $2.57 billion lost in similar scams in 2022. These scams primarily target inexperienced investors through social media platforms like Facebook and X, enticing them with promises of high returns on crypto-related investments. Scammers often employ fake websites and counterfeit tokens to deceive victims, ultimately leading to significant financial losses.
FBI's Advisory:

In response to the escalating threat of crypto scams, the FBI has issued a cautionary advisory to investors. While regulators in various countries are working to formulate rules to combat these scams, the FBI recommends that investors exercise vigilance. One crucial precautionary measure advised by the FBI is the implementation of two-factor authorization, which adds an additional layer of security to investors' funds and mitigates the risk of unauthorized transfers.
Context Amidst Market Dynamics:

The FBI's warning comes at a time when the crypto market is experiencing bullish sentiment, with Bitcoin reaching a new all-time high of $72,600. This surge in market activity has attracted a wave of new investors who may be unfamiliar with the risks associated with the crypto space. It is imperative for investors to heed the FBI's warning and conduct thorough due diligence before committing funds to any crypto token or investment opportunity.
Conclusion:

As the cryptocurrency market continues to evolve and expand, the threat of crypto scams looms large. The FBI's proactive stance in issuing warnings and advisories serves as a crucial safeguard for investors navigating this rapidly changing landscape. By remaining cautious, implementing security measures, and staying informed, investors can protect themselves from falling victim to fraudulent schemes and safeguard their financial assets in the crypto market.
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Fidelity Investments, a leading money management firm, has introduced an innovative proposal to its ethereum exchange-traded fund (ETF) application, suggesting the inclusion of staking capabilities for its potential Fidelity Ethereum Fund. This amendment, filed with the U.S. Securities and Exchange Commission (SEC), has sent Lido, a prominent staking protocol on the Ethereum network, soaring by 9%.

Expanding Ethereum ETF Landscape
Fidelity’s decision to file for an ethereum ETF in November placed it among other significant potential issuers like BlackRock, Ark Invest, and Grayscale, all vying to launch similar financial products. The move to enable staking within the ETF framework signifies Fidelity’s attempt to provide added value and appeal to traders by allowing them to earn rewards on their investments directly through the fund.

The Staking Proposition
In the detailed amendment submitted to the SEC, Fidelity outlined its plan to stake a portion of the fund’s assets with trusted staking providers, potentially including affiliates of the asset manager. This strategy aims to leverage the Ethereum network’s shift to proof-of-stake following its recent upgrade, enabling investors to participate in the network’s security and consensus mechanisms while earning staking rewards.

Market Response and Future Prospects
The announcement had an immediate impact on Lido, with its token price surging to $2.64, highlighting the market’s positive reception to Fidelity’s staking proposal. However, despite this enthusiasm, experts remain cautious about the SEC’s willingness to approve an ethereum ETF by the next deadline on May 23, citing regulatory uncertainties and the agency’s historical hesitance towards similar crypto-based financial products.

As the deadline approaches, Fidelity’s proposed staking feature sets its application apart, potentially influencing the SEC’s decision-making process and the future landscape of ethereum ETFs. The broader crypto and investment communities are closely watching this development, eager to see how it unfolds and its implications for the integration of traditional financial products with emerging crypto technologies.
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Shiba Inu’s (SHIB) project lead has shared a new “MOOD” message that has got the community wondering what is the pipeline for the project.
Read more on: https://thecryptobasic.com/2023/12/19/whats-coming-for-shiba-inu-as-kusama-keeps-community-guessing-with-new-cryptic-message/
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BITCOIN Drops Amid ETF Rejection Rumor
The reason behind the Pumping

In 2023, BTC price surges by nearly 161%, closing successfully above the psychological threshold of $40,000.Bitcoin recently experienced an upswing, surpassing $45,000, reaching levels unseen since April 2022.Two key events fuel the rise in Bitcoin prices: the fourth halving event and the pending decision by the US Security Exchange Commission (SEC) on spot BTC ETFs in the US.
Buy the rumor, sell the news
The cryptocurrency market grapples with "sell the news" sentiment amid resistance in Bitcoin and Ethereum.Bitcoin experiences a brief surge, surpassing $45,000, followed by a sudden drop, erasing $550 million in long positions and $50 million in short positions.Market turmoil ensues due to a Matrixport blog hinting at potential SEC delays in approving ETFs.The notable drop occurs ironically alongside the release of a celebratory video from ETF applicants Galaxy and Invesco, commemorating Bitcoin's 15th birthday on January 3.In the previous news, a decline of 8.51% from $45,300 to $41,400 leads to the liquidation of approximately $600 million in holdings.Concurrently, total open interest experiences a sharp decline, moving from $18.66 billion to $17.72 billion.The collective crypto market cap shrinks from $1.82 trillion to $1.72 trillion, witnessing a disappearance of over $100 billion.On December 2nd, Bitcoin reached its peak at $45,900.Bitcoin crashed by 8% in two hours, hitting a low near $41,500. Ethereum also experiences a 6% plunge during this flash crash.Among the top 100 digital assets, over half experienced double-digit losses for the day.Uncertainty increases as a crucial approval criterion remains unmet, possibly prolonging discussions until Q2 2024.Coingabbar predicts a potential 20% Bitcoin price drop, ranging from $36,000 to $38,000, in case of ETF rejection, triggered by the liquidation of assets linked to ETF approval expectations.
What's the future of BITCOIN
Recent SEC meetings with stock exchanges on Spot Bitcoin ETFs introduce uncertainty.Potential outcomes of these meetings may influence Bitcoin's integration into mainstream investments.Despite a market rebound, investors eagerly await SEC insights into its stance on spot Bitcoin ETFs and their broader financial market impact.The market rebounds, trading 2-5% above the recent low, having absorbed the impact of panic selling.Investor optimism is high for a positive ETF outcome, instilling hope and confidence in the market.
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Tesla Cars Can Facilitate Dogecoin as a Payment Options
In a recent Berlin Giga Factory event, Tesla CEO Elon Musk shocked the crypto world once again by suggesting the possibility of accepting Dogecoin as payment for Tesla Cars. Responding to a fan's inquiry about using DOGE to purchase Tesla products, Musk's response was "I think we should enable it." However, details on the timeline for implementing Dogecoin payments was not disclosed.

Musk has a history of admiring meme-based cryptocurrency, so his relationship with Dogecoin is not new. In contrast to Bitcoin's reputation as an asset used mostly by the wealthy, he emphasized at the event the attractiveness of Dogecoin as a currency for the general public. Dogecoin began as a playful digital currency that became well-known online through memes
Tesla's potential acceptance of Dogecoin for payments extends beyond speculation, as the company has already been allowing Dogecoin payments for its merchandise since January 2022. The move would further solidify Musk's support for the cryptocurrency, potentially opening up new avenues for its adoption and integration into mainstream commerce.
Impact of the Statement
The impact of Musk's latest endorsement was swift and tangible in the
markets. Following his remarks, Dogecoin's price surged from $0.172 to $0.187, representing an approximate 8% increase in value. Musk's influence on Dogecoin's market activity has been consistent, with his tweets and public statements often triggering fluctuations in its price and trading volume.
The prospect of Tesla accepting Dogecoin payments has generated excitement not only within the crypto community but also among Tesla enthusiasts eagerly awaiting further developments. While specifics on the rollout of Dogecoin payments for Tesla remain unclear, Musk's endorsement has once again demonstrated his ability to drive interest and momentum in the cryptocurrency space.
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Bitcoin $BTC has jumped 3% in just 2 hours, soaring to $97,200 📈 amid U.S.–China trade deal progress 🇺🇸🤝🇨🇳

🗣️ U.S. officials have hinted at tariff adjustments, and China has officially responded with willingness to engage in talks. The markets are LOVING it 🔥
💹 Market Reaction:

• $BTC → $97,200 📊

• Nasdaq 100 & S&P 500 Futures → up ~1% 📈
The bulls are back! Is $100K within reach now? 🐂🤑

#Bitcoin #BTC #cryptonewstoday #CryptoMarket #USChinaTalks #Tariffs #TradeDeal #BitcoinSurge #CryptoUpdate #BullRun #BTCto100K #BreakingCrypto #FinancialNews 💸📉🌍

As rival Trump-affiliated groups battle over trademark rights in the cryptocurrency space, a high-stakes power struggle is emerging.
According to a Bloomberg report published yesterday, Thursday, June 5, the company World Liberty Financial (WLFI) , linked to the Trump family, has sent a cease and desist letter to Fight Fight Fight LLC , also linked to the Tycoon's family.
This event clearly highlights the emergence of tensions within Donald Trump's sphere of influence in the cryptocurrency sector, which is constantly growing.
Fight Fight Fight LLC is led by Bill Zanker, a longtime friend and promoter of Donald Trump, and is the same company that helped launch the TRUMP meme coin earlier this year. Zanker's company also owns the website GetTrumpMemes.com, which promotes the TRUMP token.
The cease-and-desist letter challenges the company’s plans to launch a Trump-branded cryptocurrency wallet in partnership with NFT marketplace Magic Eden .
Trump Family Rejects Project as Crypto Trademark Battle Rages
The warning came after Fight Fight Fight and Magic Eden opened a waiting list for the Trump-branded wallet earlier this week.
Apparently, the project was moving forward without the involvement of the Trump Organization or the approval of WLFI.

Donald Trump Jr. , WLFI's Web3 ambassador, addressed the issue on social media on June 3. The eldest son of Donald and Ivana Trump said:
“The Trump Organization has no involvement with this wallet.”
He then added that WLFI is planning its official launch “soon . ”
Magic Eden Company confirmed its partnership with Fight Fight Fight and verified the @TrumpWalletApp account on X. The account has since been deleted. According to Bloomberg's report, the cease-and-desist letter was also sent to Magic Eden Company.
Other members of the Trump family, including Eric and Barron Trump , have also posted messages distancing themselves from the wallet project and reiterating their support for WLFI 's version .
As mentioned in the opening of the article, this dispute highlights a deepening of divisions within Trump’s sphere of influence in the digital assets sector. While WLFI is directly linked to the Trump family, the satellite company Fight Fight Fight retains control of the meme coin that bears his name.
Despite the resistance, the TRUMP token has been a huge financial success. According to Chainalysis , the project has generated more than $300 million in fees for its owners.
Fight Fight Fight would share 80% of the token's supply with CIC Digital LLC , another Trump- affiliated group .
Zanker ’s company takes its name from Trump’s slogan “Fight, Fight, Fight,” coined after his first assassination attempt. But it now finds itself at odds with Trump’s inner circle.
The cease-and-desist letters add legal weight to an increasingly public divide over who controls Trump’s cryptocurrency brand and how far each side is willing to go to reclaim it.
TRUMP Token Loses $130M as Warning Wreaks Havoc on Market
Minutes after the World Liberty Foundation issued a cease-and-desist letter to the creators of Trump Wallet, the meme coin TRUMP lost more than $130 million in market capitalization.
According to CoinGecko data , the token has dropped 11% in 24 hours and is now trading at $9.61 , with a total market cap of $1.92 billion. Trading volume, however, has increased 129% to over $713 million, reflecting a sudden spike in activity following the news.

The Trump Wallet website says the project is “President Trump’s official $TRUMP wallet” and lists Magic Eden and GetTrumpMemes.com as launch partners.
GetTrumpMemes.com is owned by Fight Fight Fight LLC, a subsidiary of CIC Digital LLC, an entity affiliated with the Trump Organization. Together, the two companies hold the majority of the TRUMP token supply.
Bill Zanker, who helped launch the TRUMP meme coin and several Trump-branded NFT collections, is listed in Fight Fight Fight LLC filings and also holds a significant stake in TRUMP tokens through CIC Digital. He is currently working on a cryptocurrency-themed Monopoly-style game.
This isn’t the first time Trump-related cryptocurrency moves have caused confusion. Last year, Trump Media and Technology Group initially denied reports that it was raising capital to buy Bitcoin, only to later confirm that it had raised $2.5 billion for that very purpose.
World Liberty Financial , which has called Trump a “major cryptocurrency advocate ,” recently announced plans to launch a dollar-backed stablecoin, USD1 , with BitGo as custodian. The project sees Trump’s children and youngest son Barron as ambassadors for the platform.

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