11-09-2024

Author

Fernando Fierro
September 11, 2024

Howdy folks,

🚨📉 The FBI has revealed a staggering $5.6 billion lost to crypto scams in 2023, with investment scams alone accounting for $3.9 billion. The report highlights that crypto-related fraud only represents 10% of total fraud complaints and makes up nearly 50% of the financial losses.

FBI Director Christopher Wray urges investors to adopt safety measures as scammers employ increasingly sophisticated tactics.

In other news:

🌍🛠️ The Camino Network, blending blockchain with the travel industry, has recruited former Ethereum Foundation executive Yessin Schiegg to its Council. Schiegg’s vast experience in finance and Web3 is expected to aid Camino in its mission to revamp the $11 trillion travel industry using decentralized solutions and smart contracts.

However, attracting users to these innovative solutions remains challenging, especially considering global regulatory landscapes.

🚀💸 HK's crypto ETFs, launched in April, lag behind successful US counterparts, facing negative returns and low investor interest. Data shows HK's Bitcoin and Ethereum ETFs have attracted minimal inflows, with the best-performing fund still down 4.7% by August.

Factors such as market timing, geopolitical issues, and investor preferences for direct crypto holdings are cited for poor performance.

🚀🪙 Standard Chartered has launched a new digital asset custody service in the UAE, following establishing a spot crypto trading desk earlier this year. This move, supported by the Dubai Financial Services Authority, initially aims to target Bitcoin and Ether for institutional clients.

CEO Bill Winters emphasized that this development marks a crucial step in integrating traditional finance with the emerging digital asset world.

DailyCoin Daily Meme

Ripple CLO Fires Back at Regulators, Claiming Traditional Banks, Not Crypto, Are Behind Major Money Laundering Scandals

Ripple’s CLO Stuart Alderoty criticizes U.S. regulators for scapegoating crypto amid the NY Fed scandal. Get the latest updates at DailyCoin.

Worldcoin Accounts for Sale? Singapore Authorities Crack Down on Payment Services Act Violations

Worldcoin faces mounting regulatory scrutiny as Singapore probes individuals involved in illicit account transfers.

TON Breaks Records Thanks to DOGS Memecoin

TON Networks achieves record-breaking figures as users engage with its viral DOGS memecoin airdrop.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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