The Bank of Russia warns of a 43% rise in Ponzi schemes, with over 3,490 entities reported in H1 2024. Many scams involve memecoins and tap-to-earn games, exploiting viral trends and low entry barriers. 59% accept crypto contributions.
A developer turned a $552 investment in NEIRO memecoin on Solana into $2.85 million, achieving 5169% growth. They sold 68M tokens for 15,511 SOL, showcasing the profit potential in memecoins. NEIRO’s name comes from a dog adopted by Dogecoin’s symbol owner.
MicroStrategy (MSTR) stock rose 3% to $1,828 as Bitcoin (BTC) neared $70,000. MSTR has surged 177% this year, outperforming major ETFs. Earnings on August 1 may show $121M revenue. A 10-1 stock split on August 8 aims to attract retail investors.
Kyiv police arrested four men for abducting and murdering a 29-year-old foreigner over nearly 3 Bitcoin. The suspects attacked the victim, coerced him to transfer his crypto, and then strangled him. They later buried the body and converted the stolen Bitcoin into cash.
Crypto chargebacks, especially friendly fraud, are challenging exchanges amid Visa’s new monitoring rules. The volatility of digital assets attracts fraud, increasing costs for platforms. Enhancing communication and using AI for detection are vital for long-term success in the crypto industry.
President Biden proposed Supreme Court reforms: term limits, a binding ethics code, and a constitutional amendment, “No One Is Above the Law,” to challenge presidential immunity. This aims to restore trust and address recent controversies involving Justices Thomas and Alito.
Nine spot Ethereum ETFs launched on July 23, raising $107M, but faced $341M outflows by July 26, mainly from Grayscale’s $1.5B exit. Key players: Grayscale, Franklin, Bitwise, and Fidelity, with Coinbase as custodian. Potential net flows could hit $15B in 18 months.
Solana (SOL) surged to $193, its highest since April, amid rising investor confidence. Futures open interest hit $3.25B, the highest since April, and ecosystem fees jumped to $2.13M with 1.22M active addresses. Key events like potential ETF submissions may impact prices further.
Tether CEO Paolo Ardoino unveiled a groundbreaking open-source product, hinting at collaborations with Holepunch and the Lightning Network. A U.S. presidential candidate’s support for stablecoins may drive stronger regulations and adoption, underscoring stablecoins’ and Bitcoin’s evolving roles.
The Dutch finance ministry has denied the AFM’s requests for more funding to enhance crypto oversight, citing political unfeasibility. This decision raises concerns about inadequate supervision amid new European MiCa regulations. The AFM will focus on the highest risks to consumers and investors.
Crypto exchange One Trading, backed by Bitpanda, has received an Organized Trading Facility license from the Dutch Financial Markets Authority. This makes it the EU’s only platform for cash-settled perpetual futures on BTC and ETH. The exchange raised €30M in a Series A round.
BlackRock warns of investment scams using its name to target Bitcoin and Ether ETF investors. Scammers impersonate executives through fake emails and websites, offering false deals. Official emails end with “@blackrock.com.” Caution is urged as crypto scams surge.
BlackRock warns of a surge in scams using its name, urging users to be vigilant. Red flags include payment requests, guaranteed returns, and urgency. Official communications never use WhatsApp or Telegram. Verify authenticity and avoid sharing personal info. #ScamAlert
The Ethereum Foundation transferred $9.16M in TKO tokens to Bitcoin Suisse, totaling 3.484M tokens. This follows Taiko’s mainnet launch, which Vitalik Buterin praised for its potential impact on the Ethereum ecosystem. TAIKO tokens now trade at $2.57, with a $162.3M market cap.
