Category Archives: Cryptocurrency

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The fourth bitcoin (BTC) halving event occurred Friday evening without much immediate effect on its price, though by Monday the cryptocurrency was trading higher at above $66,000. A sudden spike in Bitcoin network transaction fees around the halving was observed and that was credited to the launch of Runes, a new meta protocol for issuing tokens on top of the Bitcoin blockchain.

Outside of the halving, the low fees associated with Grayscale's new spot bitcoin exchange-traded fund (ETF) offering, the Bitcoin Mini Trust, were disclosed. Additionally, the crypto world experienced the first conviction in a case involving market manipulation.

The bitcoin halving event was much anticipated and closely watched by investors and miners alike. Halvings are significant because they reduce by half the rate at which new bitcoins are generated and rewarded to bitcoin miners roughly every 10 minutes. This most recent halving reduced the block reward to 3.125 bitcoins per block.

While there were no immediate price swings for bitcoin, there was a sudden jump in transaction fees on the network. The halving block was mined by mining pool ViaBTC. Notably, the miner earned more than 40 bitcoins in block subsidy and fees from this single blocksignificantly more than the average reward preceding the halving. This was due to a massive spike in transaction fees, possibly due to higher demand to be included in this historic block and a new development.

The Runes protocol, launched around the time of halving, led to higher fees on the Bitcoin network because it introduced a system in which participants could mint digital tokens directly on Bitcoin's blockchain. This new capability sparked intense competition among users to register unique asset names first, causing them to pay increasingly higher transaction fees to prioritize their transactions in the Bitcoin network.

The day after the halving, the average Bitcoin transaction fee surged to an all-time high, according to Kaiko Research, one that's more than seven times the rate a day prior and double the previous record.

Digital asset manager Grayscale previously filed for an alternative to its current high-cost spot bitcoin ETF, known as the Grayscale Bitcoin Trust (GBTC). The new offering will carry a management fee of only 0.15%, positioning it as the most affordable option in the market, according to a recent filing. The existing GBTC, known for its 1.5% fee, will transition 10% of its assets to the new BTC Mini Trust as part of this strategic move. This transition will also include an automatic issuance and distribution of BTC trust shares to existing GBTC shareholders.

This initiative is designed to align Grayscales offerings more competitively with other recently approved bitcoin ETFs with lower fees. According to data from Blockworks, the lowest-cost spot bitcoin ETF available is the Franklin Bitcoin ETF (EZBC), which has a fee of 0.19%. In addition, for GBTCs existing shareholders, this spinoff won't trigger a taxable event, meaning they won't face capital gains tax for transferring their holdings to the new fund.

As of now, GBTC holds approximately $19.6 billion in assets, which makes it the largest spot bitcoin ETF on the market. GBTC's closest competitor is BlackRocks iShares Bitcoin Trust (IBIT), which has assets totaling just over $17.5 billion.

On Thursday, Avraham Eisenberg was found guilty by a jury on all three charges of fraud and market manipulation in a $110 million scheme on the Mango Markets platform. The charges stem from when Eisenberg engaged in trades that artificially inflated the value of Mango Markets' native token, MNGO, and its associated futures contracts. He then leveraged these overvalued futures as collateral to withdraw substantial amounts of other cryptocurrencies from the platform.

According to U.S. Attorney Damian Williams, this was the first conviction for market manipulation in the crypto arena. If you engage in fraudulent activity, whether that be in the cryptocurrency space or through other forms of market manipulation, you will be held accountable for your ill-gotten gains," said FBI Criminal, Cyber, Response, and Services Executive Assistant Director Timothy Langan.

Eisenberg now faces up to 20 years in prison, signaling a significant precedent for the enforcement of U.S. laws in the decentralized finance (DeFi) ecosystem.

hThis week, crypto market observers are still tracking the lingering effects of the bitcoin halving. While the price is obviously a key area of attention, the potential for meta layers, such as Runes and Ordinals, to help provide long-term security for the Bitcoin network via increased demand for block space will also be a key phenomenon to watch. Also, it's possible that higher fees at the base layer could foster greater adoption of various Layer 2 networks such as the Lightning Network and sidechains.

While a report from CoinShares indicates some miners may shift to artificial intelligence (AI) as the halving leads to lower revenue, there are a number of factors that could more than make up for the lost earnings caused by the halving. Shares of bitcoin miners such as Riot Platforms (RIOT), Hut8 (HUT), and Marathon Digital (MARA) traded substantially higher on Monday.

It remains to be seen whether the fourth halving will lead to another massive bull runas was the case with previous halvings; reports from Deutsche Bank and JPMorgan have said that the event may already be priced into the market.

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Cryptocurrency Market News: Bitcoin Halving Steadies Price, Network Transaction Fees Spike - Investopedia

From bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrencies, which can make it overwhelming when youre first getting started in the world of crypto. To help you get your bearings, these are the top 10 cryptocurrencies to invest in based on their market capitalization or the total value of all the coins currently in circulation.

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A cryptocurrency is a digital asset that is based on blockchain technology and can circulate without the centralized authority of a bank or government. To date, there are 24,630 cryptocurrency projects out there in the cryptocurrency market that is estimated to reach $4.94 billion by 2030.

Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.

Bitcoins price has skyrocketed as its become a household name. In May 2016, you could buy one bitcoin for about $500. As of Apr. 25, 2024, a single bitcoins price was around $64,427. Thats a growth of 12,785%.

Related: How To Buy Bitcoin

Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).

Ethereum has also experienced tremendous growth. From April 2016 to the end of April 2024, its price went from about $11 to around $3,158, increasing 28,605%.

Related: How To Buy Ethereum

Unlike some other forms of cryptocurrency, Tether (USDT) is a stablecoin, meaning its backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tethers value is supposed to be more consistent than other cryptocurrencies, and its favored by investors who are wary of the extreme volatility of other coins.

Binance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binances exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or bitcoin.

BNBs price in 2017 was just $0.10. By late April 2024, its price had risen to around $613, a gain of 613,003%.

Related: How To Buy Cryptocurrency

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Get $30 in your verified trading account on your first deposit.

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Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms to process transactions quickly and securely. SOL, Solanas native token, powers the platform.

When it launched in 2020, SOLs price started at $0.77. By late April 2024, its price was around $148.30, a gain of 19,159%.

Like Tether, USD Coin (USDC) is a stablecoin, meaning its backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.

Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.

At the beginning of 2017, the price of XRP was $0.006. As of Apr. 25, 2024, its price reached $0.53, equal to a rise of 8,676%.

Dogecoin was famously started as a joke in 2013 but rapidly evolved into a prominent cryptocurrency thanks to a dedicated community and creative memes. Unlike many other cryptos, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.

Dogecoins price in 2017 was $0.0002. By April 2024, its price was at $0.15, up 75,904%.

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Originally developed as a layer-1 blockchain for Telegrams encrypted messaging platform, Toncoin was soon abandoned before being taken over by the TON foundation. The project name was even changed to The Open Network from its original name Telegram Open Network, both of which are referred to by their acronym: TON.

Toncoinfirst known as Gramis the native token for TON. It is an application that allows users to buy, send and store funds on TONs incredibly fast, environmentally friendly network.

Somewhat later to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification in platforms like bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which ADA, its native coin, powers.

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10 Best Cryptocurrencies To Buy In April 2024 - Forbes

The blockchain race is about to get even more crowded: Movement Labs, a San Franciscobased software development team thats building a layer 2 Ethereum blockchain, has closed a $38 million funding round, Fortune has exclusively learned.

Polychain Capital, the crypto VC mega firm led by Coinbase alum Olaf Carlson-Wee, led the Series A, with participation from other digital-assets-focused investors including Hack VC, dao5, and Robot Ventures.

Movements raise comes on the heels of more sizable rounds for other companies building new blockchains, including Monad Labs, which raised $225 million to build a layer 1, and Berachain, another layer 1 developer that recently announced a $100 million Series B.

While the flurry of fundraises reflects a return to crypto-focused venture investments, the concentration of capital around blockchains also indicates an increasingly competitive landscape for companies hoping to build the next Bitcoin or Ethereum.

In an interview with Fortune, Movement cofounders Rushi Manche and Cooper Scanlon said they hope to differentiate Movement by building the first layer 2 blockchain atop Ethereum that utilizes Move, a programming language originally built by Facebook for Diem, its ill-fated stablecoin project.

We are delivering Move to the front door of Ethereum, and its this ecosystem that were serving, Scanlon said. A lot of folks who never wanted to leave Ethereum are, for the first time, going to be able to benefit from the security performance of a next-generation virtual machine.

According to Scanlon and Manche, Movement Labs will soon announce its devnet and aims to launch its mainnet in the late summer or early fall. The company also plans to launch its own token, tentatively named Move.

To outside observers, the proliferation of new blockchains may seem like overkilla view often shared by those in the industry. The first, Bitcoin, created the concept of cryptocurrency in 2009; the next major advance came in 2015 with the launch of Ethereum, which introduced smart contracts and the ability to build decentralized applications ranging from exchanges to money-lending protocols.

Developers since then have been vexed by blockchains speed and cost, with a series of layer 2s built atop Ethereum, as well as new layer 1s such as Solana, promising faster and cheaper transactions. As evidenced by the recent congestion issues plaguing Solana amid its memecoin mania, the problems remain.

Two recently launched blockchains, Aptos and Sui, came with a new value proposition: Each boasted teams of developers from Facebook who helped build the crypto-focused programming language called Move. They also created the Move Virtual Machine, a kind of computer program undergirding a blockchain that would represent a next-generation update to the Ethereum Virtual Machine.

As Manche and Scanlon explained, while Move and its new virtual machine would come with better security and capabilities than EVM, most developers were still building for Ethereum, which had much stronger community backing. Even if Sui and Aptos could boast better performance, they couldnt necessarily build a thriving new ecosystem.

Aptos and Sui raised a lot of money, Manche told Fortune. But they failed to execute on the community aspect.

Movement, in contrast, is building its layer 2 on top of Ethereum but while using the Move programming language and the MVM. Its also building a tool called Move Stack, which will allow the Move Virtual Machine to be adoptable by other blockchain networks outside of Ethereum. Scanlon said theyve been contacted by quite a few different blockchains, including Avalanche and Binance Smart Chain.

Their thesis is that developers will want to build using Move, which they say is more intuitive than other languages, such as Solidity, but still be part of the Ethereum community. Everyones trying to bring Facebook on-chain, Manche said. Were bringing the language that Facebook built to Ethereum.

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Movement Labs raises $38 million to build layer 2 blockchain on Ethereum with Facebook tech - Fortune

Penny stocks tend to be volatile, illiquid and (in many cases) poor companies with limited financial standing and worse long-term outlooks. But that isnt always the case, especially with penny stocks on the rise.

Penny stocks saw per-share pricing drop further than expected in 2023, with ETFs like the iShares Micro-Cap ETF (NYSEARCA:IWC) dropping 2% compared to the wider markets respectable 7% return since Jan. 1. That may be changing, though, as rate cut prospects, combined with the worst in class penny stocks being squeezed, combine to make todays remaining micro-cap top contenders in their category.

The best part about penny stock investing is that you can diversify holdings across a range of sectors, geographies, business types, and more creating a bespoke, customized portfolio best suited to your unique needs. Here are a few of the top penny stocks on the rise you may want to consider today.

Source: PHOTOCREO Michal Bednarek / Shutterstock

Starting from the cryptocurrency side of penny stocks on the rise, Bit Digital (NASDAQ:BTBT) is a Bitcoin (BTC-USD) mining stock priced far cheaper than well-known alternatives like Riot Platforms (NASDAQ:RIOT). The companys mining units number in the tens of thousands, and to date, theyve mined more than 6,600 Bitcoins (worth more than $430 million at todays pricing). Thats a drop in the bucket compared to mega-miners like Riot, which has mined about the same amount in 2023 alone. To offset the disparity, Bit Digital is also diversifying sales streams by leaning into AI-centric infrastructure.

Bit Digital AI is Bit Digitals new business line, which provides[s] specialized infrastructure to support generative artificial intelligence workstreams.

In other words, Bit Digital is deploying a suite of Nvidia (NASDAQ:NVDA) units in a high-end data center to help smaller companies access greater artificial intelligence utility by offering multiple computing power access points.

To me, this is the future of digital crypto mining: whether due to regulation or cost-prohibitiveness, as mining becomes pricier, these companies will increasingly use their vast computing power to solve peripheral problems. And Bit Digital is a penny stock leading the charge into the emerging paradigm.

Source: christinarosepix / Shutterstock.com

Destination XL Group (NASDAQ:DXLG) stands out among penny stocks as a longstanding retailer with a proven business model and operational success. The company specializes in big and tall mens clothing and has experienced a slight sales slump throughout 2023. However, its not enough to justify its current valuation.

Recently, Destination XL posted fourth-quarter and end-of-year results with adjusted earnings of 10 cents per share for the quarter and 50 cents for the year. Although these figures marked a 16% and 20% drop, respectively, from the previous year, the companys 10.7% EBITDA margin remains impressive. Despite this, Wall Street reacted negatively, sending shares down about 10% post-earnings.

This dip has brought the stock to a very appealing 6x price-to-earnings ratio and a share price of just 0.42x sales. Moreover, the companys effective cash management has allowed it to remain debt-free and maintain high buyback levels. With a total yield of 12.52%, Destination XL Group is a compelling penny stock on the rise.

Source: Wirestock Creators / Shutterstock.com

Lithium Americas (NYSE:LAAC) ranks among the top penny stocks on the rise this year, despite a sluggish lithium market. However, trends could reverse in 2024, potentially catapulting this Argentinian-focused mining stock. Demand for lithium, driven largely by batteries and renewable energy transitions, is expected to surge more than 30% annually through 2030.

Like other lithium producers, Lithium Americas encountered slow demand and a significant oversupply in 2023, which depressed spot prices. But demand is accelerating, and some analysts predict an imminent undersupply, likely pushing spot prices upward and benefiting Lithium Americas.

More importantly, Argentinias new president, Javier Milei, is sparking bullish sentiment about the lithium-rich regions mining potential, as he wants to reduce hurdles for mining operations and recently spoke to Elon Musk about the issue (lithium, of course, being a critical component in EV production).

With the stock trading below its book value and at a lower price-to-forward earnings ratio than in recent years, Lithium Americas is a unique commodity penny stock set to surge as markets realign.

Source: Billion Photos / Shutterstock.com

Desktop Metal (NYSE:DM) is a surging penny stock. The 3D-printing stock climbed over 15% since Jan. 1. Despite trading below previous highs, the penny stock is poised to broaden its market reach by targeting new audience segments with substantial growth potential.

Desktop Metals healthcare-focused subsidiary, Desktop Health, has rolled out an expansive initiative called ScanUp aimed at dental professionals. This move capitalizes on the fact that half of the dentists in the United States have not yet adopted intraoral scanning, representing a significant untapped market, as noted in a company press release. The ScanUp platform requires a 36-month commitment and promises to generate more predictable, recurring revenue for the small-cap 3D-printing penny stock.

Closing out 2023, Desktop Metal notably reduced its net loss to $323.4 million from $740.3 million the previous year. Although it is still on the path to profitability, Desktop Metal presents a high-risk but potentially high-reward penny stock investment opportunity within the expanding 3D-printing sector.

Source: John Brueske / Shutterstock

A few weeks ago, I briefly examined The Metals Company (NASDAQ:TMC) from a legislation perspective, theorizing that GreenTech initiatives might benefit the deep-sea metals mining firm. However, renewed Federal interest in sourcing essential metals and minerals from the ocean is not the only factor buoying this penny stock.

The company recently added Steve Jurvetson as Vice Chairman and special advisor to the CEO. Jurvetsons track record includes early investments and board roles at SpaceX, Tesla (NASDAQ:TSLA), and Planet Labs (NYSE:PL), among others. Although relying solely on one individual to turn a company around is risky, Jurvetsons experience nurturing small, speculative companies could significantly impact this deep-sea mining penny stock.

A current concern for The Metals Company is its burn ratedeep-sea mining exploration is expensive and slow to yield results. The company currently has enough cash and credit to sustain its operations for approximately another year. However, with Jurvetsons appointment, expect strategic investment opportunities to surface soon, as he may begin leveraging his Silicon Valley connections for potential capital influx.

Source: John Brueske / Shutterstock.com

Enovix Corporation (NASDAQ:ENVX), an energy-centric penny stock, is leading the charge in cutting-edge battery technology. Unlike prominent battery producers like Tesla, which shifted their lithium-ion batteries away from rare earth materials while maintaining the basic battery structure, Enovix is revolutionizing the entire concept.

The company produces 3D silicone lithium-ion batteries, which are inherently more scalable and suitable for high-capacity applications such as smartphones and tech wearables. Enovix demonstrated this capability with two significant achievements recently. First, the company obtained FDA approval to include its batteries in vital sign monitors, such as blood pressure and heart rate monitors. Soon after, Enovix secured a major contract with the US Army to supply batteries for next-generation military wearables, thus integrating 21st-century technology into soldiers toolkits.

Although still focused on R&D, Enovixs recent victories suggest a rapid acceleration as the company begins marketing its innovative batteries.

Source: viewimage / Shutterstock.com

Finally, on the cannabis stock side of the penny stocks spectrum, Tilray Brands (NASDAQ:TLRY) is a leading competitor thanks partly to German legalization efforts opening new global market opportunities for cannabis stocks. The stock surged 26% in just a few days, a spike that rapidly reverted to early 2024 per-share pricing after the hype slowed.

Looking at broader sector-specific trends, the outlook strengthens further. U.S. legislators continue to advocate for rescheduling cannabis from Schedule I to Schedule III, though full legalization remains off the table for now. Even a slight federal relaxation of cannabis regulations could trigger a broad increase in cannabis stock prices. In the meantime, Tilray has a unique advantage that buffers against potential setbacks.

Owning 5% of the national craft beer market provides Tilray with a critical lifeline while awaiting U.S. legalization and enhances profitability in regions where cannabis is legal despite thin profit margins. Additionally, Tilrays acquisition of Anheuser-Buschs (NYSE:BUD) craft beer division included valuable marketing, distribution, and compliance expertiseassets that will distinctly benefit Tilray as legal environments evolve.

On Penny Stocks and Low-Volume Stocks:With only the rarest exceptions,InvestorPlacedoes not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.comswriters disclose this fact and warn readers of the risks.

Read More:Penny Stocks How to Profit Without Getting Scammed

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremys work can also be found at http://www.jeremyflint.work.

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From Cryptocurrency to Cannabis: 7 Penny Stocks on the Rise - InvestorPlace

Last updated: April 25, 2024 17:00 EDT | 2 min read

Cardano Blockchain founder Charles Hoskinson reminded the cryptocurrency community of digital currencies true purpose and ethos in a sentimental April 25 X post, emphasizing that their use case extends far beyond trading.

Hoskinson drove his point home with a powerful quote from the 1938 song I Dont Want to Set the World on Fire by Bennie Benjamin, Eddie Durham, Sol Marcus, and Eddie Seiler, which he related to the essence of cryptocurrency.

Remember, crypto doesnt want to set the world on fire, it just wants to start a flame in your heart, he said.

The Cardano founders message shares a similar sentiment with Ethereum co-founder Vitalik Buterin, who explained that Crypto is not just about trading tokens but rather as part of a broader movement to protect freedom, privacy, and decentralization.

Buterin reminded the community that Satoshi Nakamotos goal in creating Bitcoin was much broader than just facilitating digital transactions. He argued that it was rooted in the principles of liberty and decentralization, aiming to keep power in the hands of individuals rather than centralized authorities.

While Hoskinsons message serves as a reminder of the true purpose behind cryptocurrencies, he has also addressed what he perceives as a concerning trend within the industry.

That is the prevalence of Kayfabe, or staged events and narratives that misrepresent the actual state of affairs.

In a live broadcast earlier this month, the Cardano founder revealed that certain actors in the crypto space were actively creating decoy activities and promoting selected projects, all while pretending that these activities reflect the genuine situation in the industry.

Hoskinson cited the recent exclusion of entrepreneurs from the Cardano ecosystem in a poll. According to him, the intent behind such actions was to generate momentum for particular individuals and projects. He described these events as Kayfabe staged and fundamentally disconnected from reality.

The Cardano founder believes that some individuals stage these events to intentionally cause uproar within the Cardano community, potentially causing unsuspecting users to fall into a state of fear, uncertainty, and doubt (FUD).

The problem with our industry is that we let short-term narratives and carnival barkers dominate the conversation. AI has the same issue, Hoskinson said.

Hoskinson has reassured the Cardano community that he is committed to creating a transparent and inclusive social space where individuals can learn about the network based on their interests and curiosities.

He emphasized that the Cardano ecosystem extends far beyond the competitive narratives and staged events that sometimes cloud the discussion of the crypto industry. This claim aligns with Hoskinsons prediction of Cardanos growth.

Instead, Hoskinson focuses on the core principles centered around Cardanos development, which is rooted in decentralization, security, and transparency. Regarding security, it could be recalled that the United Arab Emirates (UAE) has adopted the Cardano blockchain to help the Dubai Police secure their criminal investigations.

Continued here:
Cardano Founder Charles Hoskinson Reiterates Core Purpose of Cryptocurrency Here's What You Need to Know - Cryptonews

Cryptocurrency scams are rising at an alarming rate, according to Anderson County Sheriff's Office Detective Nezar Hamze.Right now, ACSO is investigating at least 15 cases involving cryptocurrency scams, more than double the amount of these types of cases throughout the full year of 2023 according to Hamze.Essentially, Hamze said these sophisticated digital currency scams start in a few different forms sometimes beginning via phone call or pop-up message on a computer.The end goal for a scammer is to have the person withdraw physical money from their bank accounts and deposit it into a Bitcoin machine or other type of cryptocurrency machine that acts as an ATM."It's just that fast, as soon as you hit enter the money is gone," Hamze said. "You can't even get it back from the ATM, you know, because when you log in it actually warns you don't fall victim to a scam. Please make sure that you're doing you know, you're doing legitimate business."Hamze said the scammers are generally from other countries and pose as government agencies looking to execute warrants or threaten some sort of legal action or arrests if money isn't transferred as soon as possible. "These scammers are very professional," Hamze said. "Theyre extremely talented. Theyll have you believing youre talking to your mother. Thats how talented and how much skills they have. So, when they call you, because they spoof the number, it looks legit. People call and say, 'Hey, we're the IRS, we've got a warrant for your arrest. We're going to send the U.S. Marshals,' or a variant of that. We have, you know, a warrant for your arrest because you cheated on your taxes, whatever it is."Hamze said scammers have also been known to claim an individual has won a sweepstakes of some sort and need to prepay the taxes on the money before being able to claim the full prize.Scammers will find ways to make contact with people on their computers."(They'll use) a pop-up. Itll come up and say, 'hey your account information has been hacked or you have a virus on your computer. You need to go withdraw your bank account and convert it to crypto so its secure,'" Hamze said. Thats what they say. If you see that, don't engage and power your computer off right away. If you're on the phone with someone who is asking for money, hang up right away."Hamze said if you believe someone is trying to scam you, or if you've become a victim of these scams, call the non-emergency line for your local police or sheriff's office.

Cryptocurrency scams are rising at an alarming rate, according to Anderson County Sheriff's Office Detective Nezar Hamze.

Right now, ACSO is investigating at least 15 cases involving cryptocurrency scams, more than double the amount of these types of cases throughout the full year of 2023 according to Hamze.

Essentially, Hamze said these sophisticated digital currency scams start in a few different forms sometimes beginning via phone call or pop-up message on a computer.

The end goal for a scammer is to have the person withdraw physical money from their bank accounts and deposit it into a Bitcoin machine or other type of cryptocurrency machine that acts as an ATM.

"It's just that fast, as soon as you hit enter the money is gone," Hamze said. "You can't even get it back from the ATM, you know, because when you log in it actually warns you don't fall victim to a scam. Please make sure that you're doing you know, you're doing legitimate business."

Hamze said the scammers are generally from other countries and pose as government agencies looking to execute warrants or threaten some sort of legal action or arrests if money isn't transferred as soon as possible.

"These scammers are very professional," Hamze said. "Theyre extremely talented. Theyll have you believing youre talking to your mother. Thats how talented and how much skills they have. So, when they call you, because they spoof the number, it looks legit. People call and say, 'Hey, we're the IRS, we've got a warrant for your arrest. We're going to send the U.S. Marshals,' or a variant of that. We have, you know, a warrant for your arrest because you cheated on your taxes, whatever it is."

Hamze said scammers have also been known to claim an individual has won a sweepstakes of some sort and need to prepay the taxes on the money before being able to claim the full prize.

Scammers will find ways to make contact with people on their computers.

"(They'll use) a pop-up. Itll come up and say, 'hey your account information has been hacked or you have a virus on your computer. You need to go withdraw your bank account and convert it to crypto so its secure,'" Hamze said. Thats what they say. If you see that, don't engage and power your computer off right away. If you're on the phone with someone who is asking for money, hang up right away."

Hamze said if you believe someone is trying to scam you, or if you've become a victim of these scams, call the non-emergency line for your local police or sheriff's office.

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South Carolina: Cryptocurrency scams on the rise in Upstate - WYFF4 Greenville

Cryptocurrencies are a focus of attention at state and federal level in the United States (US). At the federal level, there has been significant inter-agency discussion between the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Federal Trade Commission (FTC), the Department of the Treasury (Treasury), the Internal Revenue Service (IR), the Office of the Comptroller of the Currency (OCC) and the Financial Crimes Enforcement Network (FinCEN).

These agencies have also worked together to regulate by enforcement against a flurry of federal-level bills that have yet to result in hard-and-fast laws. At the state level, there have usually been two approaches to regulation.

Some states have favored cryptocurrencies in their regulatory approach. By doing so, they hope to promote investment and grow the local economy. Other states are making it harder for companies to use blockchain technology by amending money transmitter regulations to include cryptocurrencies.

Its clear that cryptocurrency regulation remains disjointed and uncertain in the US, although bills at the federal level aim to make it less so. Its interesting to compare the US position with other countries, where the attitude towards cryptocurrencies varies greatly.

The US is slowly dealing with its regulation, but there are challenges to overcome.

The US has no federal cryptocurrency regulation in place, and its approach has been fragmented. The regulatory landscape is currently complex, and this situation is not helped by three main challenges,

Several industries have already recognized the potential of cryptocurrencies and embraced them. Companies operating in these industries are observing the regulatory landscape in the US with interest. We have listed the main industries to which this applies below.

Many companies in the corporate and enterprise realms are embracing blockchain technology. Some are also developing their own cryptocurrencies. These companies are attracted by the additional security blockchain technology provides, and they hope regulation makes using it easier rather than more difficult.

Cryptocurrencies like XMax, WINk Cocos-BCX, and Moss Coin were designed for the gaming industry. Gamers like the fact that they can earn cryptocurrencies by completing in-game challenges, and crypto is also high-profile in fantasy sports and iGaming.

Examining the iGaming sector more closely, its evident that crash gambling has most benefited from the inclusion of cryptocurrencies in the industry. The popularity of this form of iGaming continues to increase as its more engaging and exciting than traditional casino games, and there is potential for higher payouts. The integration of cryptocurrencies as a payment method in crash gambling and in the iGaming industry overall has been highly beneficial.

Several major countries use cryptocurrencies as a payment method in their healthcare sector. This applies to countries such as South Korea and Poland. It could potentially happen in the US healthcare system, depending on how regulation progresses.

Cryptocurrencies are becoming more commonplace as a method of payment in the food and dining sectors. Brands that have already embraced crypto include Hard Rock Caf, Dominos, and Chuck E Cheese. If the regulatory landscape becomes more advantageous, an increasing number of US hospitality brands are likely to jump on board with cryptocurrencies.

Overall, the current cryptocurrency regulatory position in the US is fragmented. This may change if the current Bills progress to fruition. Until then, most regulation will continue to happen at the state level, and interested sectors will monitor the situation with interest.

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.

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The Current Position with Cryptocurrency Regulation in the United States - Latest Cryptocurrency Prices & Articles

Bitcoin has touched the $67K price milestone, signaling a new era of BTC pricing post-Bitcoin halving. Halving was dubbed a monumental event that was supposed to trigger an altcoin rush in the cryptocurrency market, ushering in a new era for tokens.

With that said, the halving jitters are slowly making their way into the altcoin markets. The event influenced major meme tokens and currencies, which in turn are noting a new price surge in their valuations.

As the world inches towards exploring new meme tokens as the new lucrative financial paradigms, here are our top three meme coin suggestions that may disseminate exponential returns in May 2024.

Also Read: Cryptocurrency: 3 Top Coins To Buy For 70x Profits This Bull Season

DogWifHat, or WIF, took the Internet by surprise earlier when Bloomberg reported a striking development that may involve WIF capitalizing on the hedge fund market vertical. The report outlines the growing meme token frenzy that has been taking over the market as of late, leading notable altcoins to bite the dust.

WIF has recently flipped Polygon in terms of 24-hour on-chain volume metrics. The token is embracing a renewed surge of users interested in exploring the tokens agility to the fullest.

Per CoinCodex, WIF is expected to spike by 200% in May 2024, delivering a stellar rate of returns to its holders.

The price of Dogwifhat may rise by 224.01% and reach $9.92 by May 25, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 72 (greed). Dogwifhat recorded 15/30 (50%) green days with 17.07% price volatility over the last 30 days.

The famous frog-inspired meme that was immortalized by blockchain enthusiasts, thanks to them, is now one of the most promising crypto meme currencies in the market, documenting stellar price ascents each day. According to CoinMarketCap, PEPE is currently trading at $0.00000726, with predictions supporting its further price peak and ascent.

Also Read: Ditch the US Stock Market and Invest in Gold in 2024: Explains Analyst

According to CoinCodex, Pepe may spike by nearly 233% in May to trade at the $0.0002 price level. Pepe can be a profitable investment for users looking forward to exploring meme coins as tools for fostering profitability in a particular frame of time.

The price of Pepe Coin may rise by 233.94% and reach $0.00002442 by May 25, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 72 (greed). Pepe Coin recorded 17/30 (57%) green days with 16.11% price volatility over the last 30 days.

Also Read: Cryptocurrency: 3 Exchange-Based Coins Set to 50x This Bull Season

Shiba Inu, the original meme coin, is now climbing new price peaks as community sentiment towards SHIB turns more aggressive and focused. The token is now expanding its base by introducing new dynamics. SHIB is set to introduce new elements in Shibarium like launching Shiba Hub and Shiba Eternity P2E.

$SHIB started with humble beginnings and now rank no. 13 crypto with $17B market cap.

Theres always a new gem out there that needs to be discovered and empowered by you!

One of which is..

According to CoinCodex, Shiba Inu may surge by 229% by the end of May 2024, trading at $0.00008284. SHIB can also be a profitable addition to an investors portfolio to extract profits from in May.

The price of Shiba Inu may rise by 229.47% and reach $0.00008284 by May 25, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 72 (greed). Shiba Inu recorded 15/30 (50%) green days with 10.62% price volatility over the last 30 days.

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Cryptocurrency: 3 Meme Coins To Watch In May for Exponential Gains - Watcher Guru

Investing.com - EOS was trading at $0.8090 by 21:46 (01:46 GMT) on the Investing.com Index on Friday, down 14.38% on the day. It was the largest one-day percentage loss since April 13.

The move downwards pushed EOS's market cap down to $903.2752M, or 0.04% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.5290B.

EOS had traded in a range of $0.8001 to $0.8425 in the previous twenty-four hours.

Over the past seven days, EOS has seen a rise in value, as it gained 8.61%. The volume of EOS traded in the twenty-four hours to time of writing was $464.8529M or 0.57% of the total volume of all cryptocurrencies. It has traded in a range of $0.7724 to $0.9596 in the past 7 days.

At its current price, EOS is still down 96.48% from its all-time high of $22.98 set on April 29, 2018.

Bitcoin was last at $64,500.5 on the Investing.com Index, up 0.68% on the day.

Ethereum was trading at $3,151.08 on the Investing.com Index, a loss of 0.19%.

Bitcoin's market cap was last at $1,266.1910B or 53.62% of the total cryptocurrency market cap, while Ethereum's market cap totaled $383.3149B or 16.23% of the total cryptocurrency market value.

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EOS Falls 14% In Bearish Trade By Investing.com - Investing.com

On April 20, 2024, at 10:09 am, the fourth bitcoin halving took place. While some hard-bitten enthusiasts may have stayed up late or woken up early to watch the bitcoin block tick over 840,000, the halving itself is, at least initially, a non-event for most investors. The immediate impact of the halving is felt primarily by bitcoin miners, who see their block rewards cut in half, affecting their profitability and potentially leading to changes in the mining industry.

As the rate at which new bitcoins enter circulation is reduced by 50%, the assets scarcity increases. This built-in deflationary mechanism creates a potential long-term upward pressure on bitcoins price. However, the relationship between halving events and price appreciation is not always straightforward and can be influenced by various market factors.

Bitcoin trading volume generally sees the most significant increase in the 60 days prior to halvings, as interest builds and prices gain momentum, market analyst at trading platform Stake, Megan Stals, tells Forbes Advisor.

This has happened again, with data from crypto exchanges showing a notable increase in volume in March when compared to February, as investors seek more exposure.

On April 12, one week out from the halving event, one BTC was worth $107,302 Australian dollars. As of April 22, a few days after the event, the price was slightly lower at around $100,000 AUD.

However, Stals also points out the challenges miners face, particularly smaller operations, in the aftermath of the halving.

Miners face a profitability squeeze (after the halving) event, due to the increased compute power and energy needed to mint new coins, Stals says.

Larger miners should have the resources to invest in new hardware and find more efficient energy sources, but each halving event makes it more difficult for smaller miners to stay in business.

Despite the increased difficulty for miners, Stals notes that market dynamics play a crucial role in miner profitability. Higher bitcoin prices could help offset some of the extra mining costs in the short term. However, she adds that investment in new hardware and finding efficient energy sources is key for their long-term success.

Stals cites another potential tailwind for the recent halving event: the approval of 11 spot bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) in January. These ETFs have made it easier for investors to gain exposure to bitcoin without the need to navigate cryptocurrency exchanges.

Bitcoin ETFs have proven more popular with older investors on Stake, particularly those aged 45 and above, she says.

While younger investors may already have direct exposure to bitcoin through cryptocurrency exchanges, these ETFs offer a solution to older investors who are interested in the space but are unwilling to deal with crypto exchanges and the intricacies of private keys and wallets.

However, Stals says that bitcoin is sensitive to higher interest rates, so investors must also take this into account.

There are still concerns that the US has not yet successfully tamed inflation, and traders have begun reducing their expectations for rate cuts in 2024, she says.

Consumer Price Index data out of the US for April was higher than expected, with inflation for the past 12 months sitting at 3.8%, dampening expectations that any interest rate cuts would come into effect in the first half of the year. Crypto markets were red on the day of the news.

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Bitcoin Halving Event Of 2024: The Aftermath Forbes Advisor Australia - Forbes