Category: Cryptocurrency News

The reporting of crypto scams in the United States is currently handled by a patchwork of agencies that should be streamlined to better protect consumers, says Coinbase chief security officer Philip Martin.“It’s a very fragmented ecosystem. Where do you report these things? Well, you go here, you go there, you go somewhere else,” Martin told Cointelegraph at the SXSW conference in Austin, Texas.“I’d love to see that addressed and really brought under one umbrella, and that then helps us get a better idea of the magnitude of the problem.”“That then helps drive resources from the whole federal government to do more to address some of the underlying causes, he added. The US has dozens of federal and state-level agencies that handle reports of financial and internet crimes, one of which is the FBI’s Internet Crime Complaint Center (IC3), which gives victims a way to report cybercrime.Martin said that crypto scam victims are reporting to authorities, but it “feels like they’re screaming into the void to like IC3 or some of the government reporting websites.”He added the various reporting sites should be consolidated “into a single reporting system that not only has all the data in one place but that also, in a perfect world, gives victims some visibility.”On an earlier panel regarding online fraud, in which Martin took part, retired FBI agent Roger Campbell said many victims of crypto romance scams search the internet for how to report the crime and “all kinds of information comes up.”“It’s kind of frustrating,” he said. Campbell gave the example of the UK as a country with an “awesome reporting system” where one portal is used to report all crimes, and victims can follow the status of their complaints.FBI’s Roger Campbell (center left) on a panel with Coinbase’s Philip Martin (center right). Other panelists include former Twitter safety lead Yoel Roth (right) and MSNBC reporter Mackenzie Sigalos (left). Source: Turner Wright / Cointelegraph“You report something to the IC3, you never hear anything back 99% of the time,” he added. “It gets frustrating again for the victim. They almost feel victimized again.”Related: ‘Victim-blaming’ Americans can deter crypto scams reporting — Regulator Coinbase’s Martin told Cointelegraph that scams have a “lag in reporting,” and the way that attackers carry out schemes today won’t be known for months.“A scam may have happened six months ago, and we might hear about it tomorrow,” he said.Another difficulty in policing crypto scams, according to Martin, is that they’re “by and large” conducted from outside the US in countries including Myanmar and Laos, where “it can be hard for law enforcement to reach into those areas and really sort of strangle the stuff at the root. “He said combatting crypto scams should focus on international relations and the US, “making it a priority to work with governments around the world so that there’s no safe haven for these scammers.”Meanwhile, on March 10, the California Department of Financial Protection and Innovation said it received over 2,600 complaints last year and found seven types of scams it hadn’t yet discovered, including crypto mining, gaming, jobs and giveaway scams.Magazine: Influencers shilling memecoin scams face severe legal consequences Additional reporting by Turner Wright.

The reporting of crypto scams in the United States is currently handled by a patchwork of agencies that should be streamlined to better protect consumers, says Coinbase chief security officer Philip Martin.“It’s a very fragmented ecosystem. Where do you report these things? Well, you go here, you go there, you go somewhere else,” Martin told Cointelegraph at the SXSW conference in Austin, Texas.“I’d love to see that addressed and really brought under one umbrella, and that then helps us get a better idea of the magnitude of the problem.”“That then helps drive resources from the whole federal government to do more to address some of the underlying causes, he added. The US has dozens of federal and state-level agencies that handle reports of financial and internet crimes, one of which is the FBI’s Internet Crime Complaint Center (IC3), which gives victims a way to report cybercrime.Martin said that crypto scam victims are reporting to authorities, but it “feels like they’re screaming into the void to like IC3 or some of the government reporting websites.”He added the various reporting sites should be consolidated “into a single reporting system that not only has all the data in one place but that also, in a perfect world, gives victims some visibility.”On an earlier panel regarding online fraud, in which Martin took part, retired FBI agent Roger Campbell said many victims of crypto romance scams search the internet for how to report the crime and “all kinds of information comes up.”“It’s kind of frustrating,” he said. Campbell gave the example of the UK as a country with an “awesome reporting system” where one portal is used to report all crimes, and victims can follow the status of their complaints.FBI’s Roger Campbell (center left) on a panel with Coinbase’s Philip Martin (center right). Other panelists include former Twitter safety lead Yoel Roth (right) and MSNBC reporter Mackenzie Sigalos (left). Source: Turner Wright / Cointelegraph“You report something to the IC3, you never hear anything back 99% of the time,” he added. “It gets frustrating again for the victim. They almost feel victimized again.”Related: ‘Victim-blaming’ Americans can deter crypto scams reporting — Regulator Coinbase’s Martin told Cointelegraph that scams have a “lag in reporting,” and the way that attackers carry out schemes today won’t be known for months.“A scam may have happened six months ago, and we might hear about it tomorrow,” he said.Another difficulty in policing crypto scams, according to Martin, is that they’re “by and large” conducted from outside the US in countries including Myanmar and Laos, where “it can be hard for law enforcement to reach into those areas and really sort of strangle the stuff at the root. “He said combatting crypto scams should focus on international relations and the US, “making it a priority to work with governments around the world so that there’s no safe haven for these scammers.”Meanwhile, on March 10, the California Department of Financial Protection and Innovation said it received over 2,600 complaints last year and found seven types of scams it hadn’t yet discovered, including crypto mining, gaming, jobs and giveaway scams.Magazine: Influencers shilling memecoin scams face severe legal consequences Additional reporting by Turner Wright.

Bitcoin’s latest drop “looks, smells and feels 100% just like 2017,” a crypto executive says, citing rising liquidity, policy shifts and economic turmoil. Bitcoin’s 11th Major Correction in a Decade: Crypto Executive Says ‘Buckle Up’ Bill Barhydt, CEO of crypto firm Abra, dismissed concerns over bitcoin’s recent downturn, pointing out that such corrections have happened […]

Bitcoin has continued its downward trend despite briefly surging to $94,000 last week, a move that had initially fueled investor optimism. Since hitting that level, the cryptocurrency has steadily declined, now trading below $80,000 as of today. While the short-term price action suggests a bearish outlook, some analysts remain confident about Bitcoin’s potential for long-term growth. Bitcoin’s Price Outlook: $180K Within Reach? One of CryptoQuant’s contributors to the QuickTake platform, ibrahimcosar, recently shared his perspective on Bitcoin’s price trajectory, offering a bold prediction for its next all-time high (ATH). In his latest analysis, the analyst reiterated his long-term expectation that Bitcoin could reach $180,000 by 2026, citing historical price cycles and institutional projections that align with his forecast. According to Ibrahim, Bitcoin’s price movements over the past year have followed a familiar pattern seen in previous bull cycles. The analyst pointed out that major financial institutions have recently begun making similar long-term projections, validating his earlier forecasts. While Bitcoin currently trades below $80,000, he believes that the asset has the potential to more than double in value within the next two years. If Bitcoin follows historical patterns, the $150K–$200K range could be achieved in the upcoming bull cycle. The analyst emphasized that investors who enter the market at current levels could see over 100% returns, provided Bitcoin reaches its predicted target by 2026. However, he also noted that timing the market correctly is crucial, as buying at key support levels has historically presented the most favorable opportunities for long-term gains. Ibrahim wrote: In summary, those investing in Bitcoin at these levels have the potential to gain over 100% in dollar terms without even waiting a year. Buying in the right regions and at the right times can present significant opportunities. Short-Term Market Trends and Buying Opportunities While long-term projections remain bullish, Bitcoin’s short-term price action continues to fluctuate. Another CryptoQuant analyst, BilalHuseynov, provided insights into open interest (OI) trends, which may indicate whether this is a favorable time to buy Bitcoin. According to BilalHuseynov, the 7-day change in open interest has entered a “deleveraging” phase, a signal that has historically aligned with potential buying opportunities. Related Reading: Bitcoin Could Rally Above ATH To $128K – On-Chain Indicator Signals Potential Recovery The last time this occurred was in August 2024, when Bitcoin was trading between $58,000 and $60,000 before rallying to an all-time high of $106K. If historical trends repeat, the current market conditions could set the stage for a similar recovery. The CryptoQuant analyst noted: When the OI ratio’s change for 7 days down to the section, that means we can define the time to buy. Since August 2024, we have been observing one of the deepest areas in the Crypto Market. To remember, at this time (2024 Aug), Bitcoin’s price was around 58 – 60k. After that, the price goes up to ~106k. Featured image created with DALL-E, Chart from TradingView

Strategy (MSTR) shares have fallen 30% since its executive chairman and former CEO, Michael Saylor, was featured on the cover of Forbes, according to stock price data from Yahoo Finance. Between Jan. 30 and March 10, Strategy’s shares dropped from $340.09 to $238.25. The tumble includes a 17% decline on March 10 amid the wider sell-off in the tech stock market.Strategy one-day stock price. Source: Yahoo FinanceAccording to Yahoo Finance, the Nasdaq Composite, to which Strategy belongs, has fallen over 4% on March 10. Renewed fears of a recession, with the Atlanta Fed projecting a negative -2.4% gross domestic product growth for the first quarter of 2025, along with the increased rhetoric of trade wars, have sparked fear among investors in the equities market. CNN’s Fear & Greed index sits at “16” for the day, which signifies “Extreme Fear.”Despite a falling stock price, Strategy remains unwavering in its commitment to a Bitcoin (BTC) strategy. The company announced on the same day plans to raise an additional $21 billion for “general corporate purposes, including the acquisition of Bitcoin and for working capital.” On Feb. 24, Strategy purchased 20,356 Bitcoin for nearly $2 billion.Related: MicroStrategy, now ‘Strategy,’ records $670M net loss in Q4Although Bitcoin recorded the largest weekly decline in the asset’s history on March 10, Strategy’s Bitcoin investment is still profitable by 18.9%. The company has purchased its BTC at an average cost of $66,423, well below the price of the asset at this time of writing.While countless entrepreneurs have graced the Forbes cover over the years, some featured individuals have also fallen into controversy after the spotlight. One of those includes former FTX CEO Sam Bankman-Fried, who was sentenced to 25 years in prison for a bevy of financial crimes.Strategy sparks debate, spawns copycatsStrategy’s move to acquire more Bitcoin by issuing stock and using debt has been met with its fair share of proponents and critics in the crypto space. Some believe it is a stroke of genius, a bet on the digital asset’s track record that has caused it to rise from nothing to a market cap of $1.56 trillion in 15 years.Others have not been so kind, likening the company to a ticking time bomb or a Ponzi. In November, crypto investor Hedgex.eth called it the latter, writing on X that Saylor “will do more damage to Bitcoin than anyone else using endless leverage.” Haralabos Voulgaris wrote on X that “at some point, the next ‘unexpected’ BTC implosion will likely be tied to MSTR.”Still, Strategy’s move has spawned copycats throughout the business world, with some companies buying Bitcoin for their treasuries and seeing a surge in investor enthusiasm. One of those companies is Metaplanet, whose share price rose 4,800% in 12 months after it announced its BTC buying strategy.Magazine: Asia Express: ‘China’s MicroStrategy’ Meitu sells all its Bitcoin and Ethereum

Strategy (MSTR) shares have fallen 30% since its executive chairman and former CEO, Michael Saylor, was featured on the cover of Forbes, according to stock price data from Yahoo Finance. Between Jan. 30 and March 10, Strategy’s shares dropped from $340.09 to $238.25. The tumble includes a 17% decline on March 10 amid the wider sell-off in the tech stock market.Strategy one-day stock price. Source: Yahoo FinanceAccording to Yahoo Finance, the Nasdaq Composite, to which Strategy belongs, has fallen over 4% on March 10. Renewed fears of a recession, with the Atlanta Fed projecting a negative -2.4% gross domestic product growth for the first quarter of 2025, along with the increased rhetoric of trade wars, have sparked fear among investors in the equities market. CNN’s Fear & Greed index sits at “16” for the day, which signifies “Extreme Fear.”Despite a falling stock price, Strategy remains unwavering in its commitment to a Bitcoin (BTC) strategy. The company announced on the same day plans to raise an additional $21 billion for “general corporate purposes, including the acquisition of Bitcoin and for working capital.” On Feb. 24, Strategy purchased 20,356 Bitcoin for nearly $2 billion.Related: MicroStrategy, now ‘Strategy,’ records $670M net loss in Q4Although Bitcoin recorded the largest weekly decline in the asset’s history on March 10, Strategy’s Bitcoin investment is still profitable by 18.9%. The company has purchased its BTC at an average cost of $66,423, well below the price of the asset at this time of writing.While countless entrepreneurs have graced the Forbes cover over the years, some featured individuals have also fallen into controversy after the spotlight. One of those includes former FTX CEO Sam Bankman-Fried, who was sentenced to 25 years in prison for a bevy of financial crimes.Strategy sparks debate, spawns copycatsStrategy’s move to acquire more Bitcoin by issuing stock and using debt has been met with its fair share of proponents and critics in the crypto space. Some believe it is a stroke of genius, a bet on the digital asset’s track record that has caused it to rise from nothing to a market cap of $1.56 trillion in 15 years.Others have not been so kind, likening the company to a ticking time bomb or a Ponzi. In November, crypto investor Hedgex.eth called it the latter, writing on X that Saylor “will do more damage to Bitcoin than anyone else using endless leverage.” Haralabos Voulgaris wrote on X that “at some point, the next ‘unexpected’ BTC implosion will likely be tied to MSTR.”Still, Strategy’s move has spawned copycats throughout the business world, with some companies buying Bitcoin for their treasuries and seeing a surge in investor enthusiasm. One of those companies is Metaplanet, whose share price rose 4,800% in 12 months after it announced its BTC buying strategy.Magazine: Asia Express: ‘China’s MicroStrategy’ Meitu sells all its Bitcoin and Ethereum

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The Trump administration may be intentionally creating uncertainty in the stock markets to corner Federal Reserve chair Jerome Powell into lowering interest rates, according to a market commentator. Doing so increases the likelihood that the US won’t need to refinance around $7 trillion in debt it owes over the next few months, Bitcoin commentator Anthony Pompliano said in a March 10 X post.US President Donald Trump and Secretary of the Treasury Scott Bessent are “taking matters into their own hands; they’re crashing asset prices in an attempt to force Jerome Powell to cut interest rates,” said Pompliano, who serves as the founder and CEO of Professional Capital Management and host of The Pomp Podcast. In late January, Powell announced the Fed was not lowering interest rates from the current target range of 4.25% to 4.5% despite calls from Trump to do so.Pompliano said the recent market panic has been driven in part by Trump’s tariffs — and has been used to create a more favorable bond market while lowering the 10-year Treasury yield.He noted that the 10-year Treasury yield is already down from nearly 4.8% in January to 4.21% now — a sign that Trump’s purported strategy is “heading in the right direction.”Source: Thomas KralowWhether Pompliano’s theory is correct or not, the stock market has been tanking of late, and crypto has been hit even harder.Broad market index funds such as State Street’s Standard & Poor’s 500 index fund (SPY) fell 2.66% on March 10 alone, while the Nasdaq-100% fell 3.8%, Google Finance data shows.Both indexes are down 7.32% and 10.7% over the last month, while Bitcoin (BTC) is down 27.4% from its $108,786 all-time high, and over $1.2 trillion has been wiped from the cryptocurrency market cap since Dec. 17. If the stock market continues to tank, it will come down to a “who blinks first” contest between Trump and Powell, Pompliano said.While Trump hasn’t confirmed such a strategy, Pompliano pointed to a Fox News interview on March 9 where Trump said: “Nobody ever gets rich when the interest rates are high because people can’t borrow money.”Pompliano added that lowering interest rates would also benefit American consumers:“The big goal, get interest rates down, and that will lead to more economic activity, thanks to access to cheap capital. Give the people cheap capital and they’ll go and do things with it.”Related: Bitcoin dips to $80K in ‘ugly start,’ could retest key resistance: HayesCME FedWatch, a tool used to measure expectations for a Federal Reserve interest rate change, has tipped a 96% probability that the target rate will remain between 4.25% and 4.50% following the Federal Reserve’s next meeting on March 19. However, it’s near 50-50 odds for the target rate to be lowered in the Federal Reserve’s following meeting on May 7.The Federal Reserve typically avoids lowering interest rates when inflation is high, as one of its primary objectives is to maintain price stability.However, a Trump-inflicted recession, or “Trumpcession,” as some call it, could force America’s top bank to start cutting again.Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’

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