A Bored Ape Yacht Club (BAYC) enthusiast recently narrowly escaped a potential disaster when confronted by a scammer posing as a Forbes journalist.
On November 27, “Crumz,” a nonfungible token (NFT) collector, recounted his encounter with this fraudulent individual.
Crumz received a direct message from someone impersonating a real Forbes editor, Robert LaFanco. The imposter offered an interview opportunity for a new article about BAYC.
Despite noticing some red flags, such as the use of a non-premium Zoom account and a request to use a separate recording bot, Crumz proceeded with the interview.
During the conversation, the scammer asked Crumz to grant access for recording purposes. Initially, Crumz complied, not suspecting anything amiss.
However, towards the end of the interview, the imposter made an unusual request for Crumz to mention something related to his Bored Ape. Specifically, the scammer suggested mentioning a banana.
Crumz soon realized that this was an attempt to distract him from his computer while the scammer took control of his system to steal his valuable assets.
Instead of following the distraction, Crumz stayed vigilant by his computer. As expected, the scammers attempted to manipulate his screen.
Quick thinking saved the day as Crumz muted his screen, preventing any video feed and thwarting the scammers when they tried to access delegate.cash.
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Crypto casino Rollbit partner borowik.eth raised the alarm to his 140,000 followers on X (formerly Twitter) on the same day.
He identified a fake account posing as Robert LaFranco, claiming to be a Forbes assistant managing editor.
Borowik.eth warned that the imposter’s intentions were to deceive and gain access to users’ PCs to steal their valuable NFTs.
Additionally, BAYC community member Laura Rod also reported being contacted by the same bogus Forbes editor.
This incident is not isolated, as blockchain security firm Slowmist recently exposed a series of scams in which victims lost their cryptocurrency assets to fake journalists.
The attackers typically scheduled interviews, guided victims to join Telegram interviews, provided interview outlines, conducted lengthy interviews, and then shared malicious links for publication consent.
In a similar case in October, a user on Friend.tech fell victim to a fake Bloomberg journalist who lured them into clicking a link for a supposed “consent form,” which ultimately resulted in their Friend.tech account being drained.
To stay safe in the cryptocurrency and NFT space, industry observers advise being cautious of scammers using BAYC profile pictures on platforms like X. Vigilance and skepticism are essential tools in guarding against such fraudulent attempts.
ARK Invest recently capitalized on the soaring stock price of Coinbase, a cryptocurrency exchange, by selling 43,956 Coinbase shares from its ARK Fintech Innovation ETF on November 27th.
At the time of the sale, Coinbase shares were valued at $119.7 each, amounting to a transaction worth $5.3 million, as reported by TradingView.
This move came as Coinbase’s stock surged to an 18-month high, attributed in part to the legal issues faced by rival exchange Binance and its former CEO Changpeng Zhao, who pleaded guilty to money laundering and sanctions violations in the United States on November 21, 2023.
Over the past year, Coinbase’s stock has witnessed an impressive 168% increase and has surged by over 220% since January 2023.
Despite these gains, it still remains approximately 70% lower than its all-time high of $319, reached in September 2021, a few months after its trading launch in April 2021.
ARK Invest has been strategically divesting its Coinbase holdings throughout 2023.
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In October, Cathie Wood’s investment firm sold 63,675 Coinbase shares from its ARK Next Generation Internet ETF (ARKW), totaling $5.1 million.
Additionally, in July 2023, when Coinbase was trading around $90 per share, ARK offloaded more than $103 million worth of Coinbase shares.
ARK has also been actively shedding shares of Grayscale Bitcoin Trust (GBTC). On November 24, ARKW sold 94,624 GBTC shares for approximately $3 million, following the sale of nearly 700,000 GBTC shares in the previous month.
Bloomberg’s ETF analyst, Eric Balchunas, clarified that these sales do not indicate a lack of bullish sentiment towards Bitcoin or preparation for ARK Invest’s upcoming spot Bitcoin ETF in partnership with 21Shares. Instead, ARK appears to be adjusting its portfolio to maintain desired weightings.
Simultaneously with the sale of Coinbase and GBTC shares, ARK has been adding positions in crypto-related stocks.
On November 27, ARKF acquired 252,421 shares of the crypto-friendly banking app SoFi. Year to date, ARK has purchased a total of 1.6 million SoFi shares, valued at $11 million at current prices.
Additionally, ARK invested $1.1 million in the stock of the crypto-friendly investment app Robinhood on November 8th, indicating continued interest in the cryptocurrency space.
With the approval of the first spot Bitcoin exchange-traded fund (ETF) in the United States, Bitcoin may be on a path towards reaching nearly $50,000, according to insights from CryptoCon, a prominent analyst.
The Ichimoku Cloud indicator, a tool that combines historical, current, and future trading signals, is signaling an upward trajectory for Bitcoin’s price.
Analyzing Bitcoin’s weekly timeframe, the Ichimoku Cloud indicator suggests that the recent gains in BTC price are just the beginning of a potential bullish trend.
CryptoCon shared his insights on November 27, predicting a specific target for Bitcoin’s price.
The Ichimoku indicator’s leading spans have recently intersected, forming a new upward cloud.
Furthermore, the lagging span, known as Chikou, has broken through resistance levels, indicating that the price is poised to move higher.
CryptoCon noted that the previous prediction made by the Weekly Ichimoku cloud accurately anticipated Bitcoin’s rise to $38,000 two months in advance, and now it points towards a new target of $43,000.
This projection typically takes around 7 to 11 weeks from the cross, with an average of 10 weeks, implying that the price could reach this level in early January.
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CryptoCon also suggested that $43,200 is a conservative estimate, and Bitcoin could potentially reach as high as $48,000.
He emphasized that the Ichimoku indicator, which looks into the future, indicates that there is more room for growth.
As of November 28, Bitcoin was trading at $37,000. The timing of the potential $48,000 target aligns with the expected approval date of the Bitcoin ETF in early January, assuming historical market patterns continue to hold.
However, the specifics of the ETF approval and which products will receive the green light remain uncertain.
Meanwhile, the U.S. Securities and Exchange Commission (SEC) continues to exert influence on the cryptocurrency market by taking enforcement actions against Binance, the world’s largest exchange.
Binance faced a significant $4.3 billion fine, and its CEO, Changpeng Zhao, was removed from his position. Interestingly, these developments have benefited Coinbase, a rival exchange, with its shares surging over 250% year-to-date.
In conclusion, Bitcoin’s potential ascent to nearly $50,000 is supported by the Ichimoku Cloud indicator’s signals, and its timing coincides with the anticipated approval of the first U.S.
Bitcoin ETF in early January, although regulatory uncertainties persist in the crypto space.
Circle, the company responsible for USD Coin (USDC), has entered into a strategic partnership with SBI Holdings, a Tokyo-based financial services firm, aimed at accelerating the adoption of USDC and Web3 services within Japan.
This collaboration was solidified through a memorandum of understanding (MOU) signed on November 27th, signifying a pivotal moment in the expansion of USDC into the Japanese market.
This partnership comes in the wake of Japan’s government’s revision of the Payment Services Act in June, which introduced regulatory frameworks for stablecoins.
Circle anticipates that these regulations will encourage the issuance and circulation of stablecoins in Japan, fostering the country’s transition towards a Web3 economy.
To facilitate the integration of USDC into the Japanese financial landscape, SBI Holdings is in the process of seeking registration as an electronic payment instruments service, pending approval from Japanese authorities.
Yoshitaka Kitao, CEO and President of SBI Holdings, expressed optimism about this move, seeing it as a crucial step towards the widespread adoption of stablecoins in Japan.
Circle’s CEO, Jeremey Allaire, emphasized the significance of this collaboration, describing it as a shared vision for the future of digital currency in Japan and Asia. It also marks an important milestone for Circle’s expansion plan in the region.
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Additionally, Circle and SBI will collaborate to promote the adoption of Circle’s comprehensive Web3 Services suite, offering end-to-end development, deployment, and operational platforms for Web3 applications across various blockchains, including domains such as gaming, culture, and consumer entertainment.
Allaire expressed enthusiasm about setting new standards in Japan’s financial sector through this collaboration with SBI.
To facilitate USDC access and liquidity for businesses and users in Japan, SBI Shinsei Bank, an SBI subsidiary, will provide banking services to Circle.
While Circle is headquartered in the United States, it’s noteworthy that a substantial 70% of USDC adoption occurs outside of the United States, with Asia leading this trend.
The demand for secure and transparent digital dollars is also on the rise in Latin America and Africa.
As of now, USDC is the second-largest stablecoin globally, with a market capitalization of $24.6 billion, as reported by CoinGecko.
This partnership with SBI Holdings is poised to play a pivotal role in furthering the growth and adoption of USDC in the Japanese market and beyond.
Robert Kiyosaki, renowned author of the influential personal finance book “Rich Dad Poor Dad,” has reaffirmed his belief in the importance of assets like Bitcoin, gold, and silver as the specter of inflation looms large, endangering global living standards.
In recent times, the price of gold has surged past the $2,000 per ounce mark, demonstrating a consistent rebound in the face of diminishing fiat currency values.
As a staunch advocate for the Bitcoin ecosystem, Kiyosaki used his platform, with over 2.4 million followers on X (formerly Twitter), to encourage people to reduce their exposure to fiat currencies, which he dismissively referred to as the “fake money system.”
Kiyosaki, known for his candid and often unconventional financial advice, declared that individuals attempting to save money through traditional means are destined to fall short.
Instead, he recommended alternative forms of investment, including gold, silver, and Bitcoin, asserting, “Don’t be a loser. Get out of the FAKE money system.
Get into gold, silver, Bitcoin now… Before it’s too late.”
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On November 23rd, Kiyosaki pointed the finger at what he termed the “woke government” for the mounting inflation and the ensuing daily struggles faced by ordinary citizens.
He remains resolute in his choice to convert his fiat assets into Bitcoin and precious metals, underscoring his belief that political leaders are indifferent to the well-being of the populace, ultimately leading to conditions of strife and impoverishment.
As early as October 20th, Kiyosaki had forecasted that the price of gold would soon surpass $2,100, and he anticipates a further rally to $3,700 in the not-so-distant future.
In a bold prediction made in August 2023, Kiyosaki foresaw Bitcoin’s value reaching $100,000, taking into account the geopolitical tensions that posed a threat to global prosperity.
However, he also painted a vivid picture of what might transpire should the stocks and bonds market plummet.
In such a scenario, Kiyosaki envisions Bitcoin’s price skyrocketing to an astonishing $1 million, while the value of gold and silver would surge to $75,000 and $65,000, respectively.
In a world grappling with economic uncertainties and growing inflationary pressures, Kiyosaki’s unorthodox investment advice continues to capture the attention of individuals seeking to safeguard their financial futures.
Hive Digital Technologies, the cryptocurrency mining firm, has announced ambitious expansion plans aimed at strengthening its global presence.
The company has inked a property transfer deal with Turis AB to acquire a data center located in Boden, Sweden.
This facility was previously constructed as part of the European Union’s Horizon 2020 initiative.
Hive’s strategic move aims to bolster its existing operations in Sweden, where it already operates a data center.
The newly acquired property will be utilized for various purposes, including accommodating their next-generation ASIC servers and increasing Bitcoin production.
Johanna Thornblad, Hive’s country president for Sweden, emphasized the importance of the new data center in expanding their regional footprint and reaffirmed their commitment to environmental sustainability and energy efficiency through the use of “green” energy.
Hive Digital Technologies currently manages data center facilities in Canada, Sweden, and Iceland.
Notably, the company prioritizes environmentally friendly practices by using green energy sources for its cryptocurrency mining operations.
Regarding this development, Cointelegraph has sought additional information from Hive.
In a strategic shift earlier in 2023, Hive removed the term “blockchain” from its official name to reflect its evolving focus on financial opportunities in artificial intelligence (AI), cloud computing, and graphics processing units (GPUs).
The company intends to leverage its substantial GPU inventory of 38,000 Nvidia GPUs to provide small and medium-sized businesses with a more efficient alternative to major cloud service providers.
Hive’s CEO, Aydin Kilic, and Chairman, Frank Holmes, clarified in an interview with Cointelegraph that their pivot toward AI does not diminish their commitment to Bitcoin and crypto mining.
They emphasized that “blockchain and AI can certainly co-exist” and remain “pillars of Web3.”
Furthermore, Hive Digital Technologies participated in the launch of the Digital Power Network (DPN) in September.
This coalition, associated with the Chamber of Digital Commerce, advocates for the significance of proof-of-work (PoW) mining, further highlighting the company’s involvement in the cryptocurrency mining industry.
Amidst the ongoing controversy surrounding cryptocurrency media outlet Bankless and its associated decentralized autonomous organization (DAO), BanklessDAO, the co-founders of Bankless, David Hoffman and Ryan Sean Adams, have proposed a separation of the brand from the DAO.
This decision follows community criticism of BanklessDAO’s application for a grant from Arbitrum, a layer-2 scaling project for the Ethereum blockchain, which requested 1.82 million Arbitrum (ARB) tokens, valued at approximately $1.8 million at the time.
Hoffman and Adams announced their intention to submit a governance proposal to BanklessDAO, aiming to decouple the two entities.
As part of this proposal, they also plan to burn all of their BanklessDAO (BANK) tokens.
The key concern expressed by the community was that BanklessDAO might not have the capacity to make such significant proposals without relying on the reputation of the Bankless brand, which they did not create and should not benefit from, according to Hoffman.
The BanklessDAO community swiftly criticized the grant proposal, emphasizing the lack of detailed information about how the funds would be utilized for content creation.
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In response, BanklessDAO pledged to revise the proposal by reducing the one-year grant to three months and providing clear key performance indicators and milestones.
The dispute escalated on social media, with some commentators accusing Bankless founders of “legitimacy grifting” by claiming that BanklessDAO was entirely distinct from Bankless.
Others criticized them for promoting projects like Nexo and questioned their authenticity.
In response to the criticism, Adams defended the practice of creators running ads, arguing that labeling them as grifters was an attempt to consume content without compensation.
He emphasized that paid subscribers have always supported the mission of Bankless.
Founded in 2019, Bankless is a crypto media company that advocates for the adoption and awareness of bankless monetary systems.
In May 2021, they launched Bankless DAO, a decentralized community dedicated to coordinating and promoting bankless media, and introduced the BANK token.
In April 2023, Bankless founders revealed their plans to establish a $35 million venture capital fund for investments in early-stage Web3 companies.
Japan’s tax authorities have reported a significant decline in the average value of undeclared income in the cryptocurrency sector, with a notable 19% decrease in 2022.
The Japanese National Tax Agency (NTA) unveiled its annual summary of tax investigations on November 24, shedding light on the state of crypto tax evasion in the country.
In the past year, the NTA launched 615 investigations into individuals’ crypto holdings based on their tax declarations for 2022.
This marked a notable increase from the 444 investigations conducted in 2021. Out of these investigations, the agency discovered tax violations in 548 cases, representing a substantial 35% rise compared to the 405 crypto tax evasion cases recorded in the previous year.
One of the most striking findings is the drop in the average value of undeclared crypto holdings.
In 2021, the average value stood at 36,590,000 Japanese yen, equivalent to approximately $245,000.
However, in 2022, this figure decreased to 30,770,000 yen, which amounts to around $206,000.
This shift in crypto tax enforcement comes after Japanese regulators, including the NTA and the Financial Services Agency (FSA), made an important announcement in August.
They confirmed that citizens would not be subject to capital gains tax on unrealized gains in cryptocurrencies, effectively exempting them from paying roughly 35% of taxes on crypto assets held without trading activities during the fiscal year.
Furthermore, Japan has recently joined a growing list of nearly 50 nations that have committed to swiftly implementing the Crypto-Asset Reporting Framework.
This international standard aims to facilitate the automatic exchange of information between tax authorities regarding cryptocurrency assets, enhancing transparency and compliance in the rapidly evolving crypto space.
In conclusion, Japan’s efforts to curb crypto tax evasion have intensified, resulting in more investigations and a decline in the average value of undeclared crypto holdings.
With the country’s commitment to international standards for reporting crypto assets, it appears that regulatory scrutiny in the cryptocurrency sector will remain a top priority for Japanese authorities in the coming years.
Bitcoin is embarking on a new week, maintaining its position near its highest levels in the past 18 months.
The cryptocurrency’s price action surged above $38,000 last week, but it has since been trapped within a “micro-range,” leaving traders uncertain about the next move.
The pressing question on everyone’s mind is whether a deeper retracement is in store or if Bitcoin will continue its ascent to reach $40,000, potentially leaving doubters behind.
In the coming days, several potential catalysts could determine the direction of Bitcoin’s trend, and there are indications that the market is primed for a boost.
Volatility is expected to increase with the monthly close on the horizon, but before that, a series of macroeconomic events could bring unexpected price action.
The monthly close holds significant importance for day traders, with Bitcoin currently at a critical juncture.
Untested liquidity levels on the downside and resistance around the $40,000 mark have created a stubborn daily trading range.
Bulls and bears have struggled to break free from this narrow corridor, with even new higher highs being short-lived.
As of the latest weekly close, Bitcoin experienced a brief drop to $37,100 before recovering.
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Traders are now eagerly awaiting bid momentum to return, with key levels at $37,000 and $38,000 to watch closely.
The monthly close approaches, and Bitcoin has seen a 7.8% increase month-to-date in November 2023, which is considered average compared to previous years.
In addition to the monthly close, Bitcoin traders are also anticipating a week filled with macroeconomic events.
The United States Federal Reserve will receive crucial inflation data that will influence its interest rate policy decisions in the coming month.
Fed Chair Jerome Powell is set to speak on December 1, following comments from other senior Fed officials.
The GBTC (Grayscale Bitcoin Trust) is nearing parity with its underlying asset pair, BTC/USD, indicating a positive shift in market sentiment.
The fund’s resurgence is seen as a sign of growing institutional interest in Bitcoin, particularly if the U.S. approves its first spot price exchange-traded fund (ETF).
Bitcoin miners are deploying record processing power to the network in anticipation of the upcoming block subsidy halving in April 2024.
The hash rate, a measure of this deployment, recently surpassed 500 exahashes per second, a significant milestone.
Meanwhile, BTC exchange balances are declining once again, with major exchanges holding the lowest amount of BTC since April 2018, driven in part by recent regulatory actions and hacks affecting some exchanges.
Christine Lagarde, the president of the European Central Bank (ECB) and a well-known critic of Bitcoin and other cryptocurrencies, recently revealed a personal anecdote about her son’s unsuccessful foray into the world of digital assets.
During a town hall meeting in Frankfurt on November 24, Lagarde disclosed that her son had suffered substantial losses from his cryptocurrency investments, despite her repeated warnings.
Lagarde recounted, with a touch of wry humor, that her son had “ignored me royally, which is his privilege,” and as a result, he ended up losing “almost all the money he had invested” in cryptocurrencies.
Although Lagarde did not specify the exact amount her son lost, she noted that he regarded it as “not a lot,” estimating that he had lost approximately 60% of his crypto investments.
Lagarde later revealed that her son reluctantly acknowledged her cautionary advice after this substantial loss.
The ECB president’s sentiments toward cryptocurrencies have been quite clear.
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She expressed her skepticism about the value of cryptocurrencies in 2022, stating that they are essentially “worth nothing” as they lack tangible backing.
In 2021, Lagarde also predicted that central banks worldwide would not be adding Bitcoin to their reserves anytime soon, reflecting her cautious stance toward digital assets.
In contrast to her criticism of cryptocurrencies, Lagarde has shown strong support for the concept of central bank digital currencies (CBDCs).
In April 2023, she admitted that a potential digital euro would have a “limited” scope, primarily intended for facilitating day-to-day payments.
This stance aligns with the ECB’s ongoing exploration of the feasibility and implications of launching a digital euro.
Overall, Lagarde’s personal account of her son’s crypto investment misadventures provides a glimpse into her deep-seated skepticism toward cryptocurrencies.
She firmly believes that while individuals have the freedom to invest and speculate as they choose, there should be stringent measures to prevent participation in illicit or criminal activities within the crypto space, reflecting her ongoing commitment to financial stability and regulation.