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🚨Grayscale Bitcoin holdings are down 53% since the ETF launch.

🚨Grayscale Bitcoin holdings are down 53% since the ETF launch.

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Game-changing move from Paxos for the stablecoin market. Paxos announced in a statement that they have issued a new stablecoin called Lift Dollar (USDL) held in the United Arab Emirates (UAE). The stablecoin, which will have a yield feature, will be issued by the company's UAE-based subsidiary, Paxos International. The crypto asset is regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Tether and Circle, the largest companies in the stablecoin market, have begun to generate significant income from the treasury bills they hold as collateral in recent years. This approach paved the way for the development of yield-sharing stablecoins. Stating that Lift Dollar (USDL) is structured in the same way as Paxos' other stablecoins, Charles Cascarilla, the company's CEO, assured that its assets are pegged to the dollar at a one-to-one ratio and are supported by short-term treasury papers. Cascarilla also stated that the assets are regularly inspected to avoid the risk of possible bankruptcy. Cascarilla also said that with USDL, they went one step further in making the dollar accessible to everyone and democratized the possibility of risk-free returns. However, Paxos' new asset USDL will not be able to be traded in the USA due to lack of regulation. In the press release regarding the #USDL launch, the company stated that they will focus specifically on Argentina and that they are cooperating with 3 intermediary companies, Ripio, Buenbit and TiendaCrypto, in the distribution of the crypto asset. $BTC
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FBI warns: Watch Out For This New Crypto Scam! Be wary of an employer who demands you send cryptocurrency to start your dream job from home. The United States Federal Bureau of Investigation (FBI) says this is likely another scam. The FBI warned in a statement on June 4 that there was an increase in work-from-home job posting scams. Scammers will contact potential victims via an unsolicited call or text, offering a relatively simple task such as rating restaurants or clicking a button. Victims may even believe they are making money because scammers will direct victims to a fake interface to show that they are making money. The scam involves the victim being asked to pay crypto to the scammer for more business. “As part of your job, you are directed to make crypto payments to the fraudulent individual,” the #FBI said. Elements that may indicate fraud include job descriptions that overuse the word “optimization” and do not require references during the hiring procedure. With the rise in popularity of the work-from-home lifestyle, it is no surprise that more victims are falling into this trap. Remote workers also have the freedom to choose where they are located. Canggu-based crypto advisor Dominic Frei said in a recent interview with Cointelegraph Magazine that he brought his wife and two young children to Bali from Switzerland in search of a more desirable lifestyle and climate. This development comes after the #FBI released an alarming statistic regarding the amount of crypto-related fraud within the country in 2023. On March 9, Cointelegraph cited a report from the FBI stating that crypto investment losses increased from $2.57 billion in 2022 to approximately $3.94 billion in 2023, representing a 53 percent increase. $BTC
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