Understanding impersonation scams in crypto In impersonation scams, fraudsters pretend to be reliable individuals, exchanges or services to trick users into sending cryptocurrencies or disclosing personal information. In the context of cryptocurrencies, due to the pseudonymous nature of cryptocurrency transactions and the level of relative secrecy they provide, impersonation scams are common. So, how do impersonation…

Sam “SBF” Bankman-Fried took the stand this week to testify in his ongoing criminal trial in the Southern District Court of New York, denying any wrongdoing between FTX and Alameda Research, while acknowledging making “big mistakes” during the companies’ fast-paced growth. His official testimony started on Oct. 27, after a hearing on the previous day without…

The 2024 Turkish Presidential Annual Program, published on Oct. 25 in the Official Gazette of the Republic of Turkey, aims to finalize crypto regulations in the country within the calendar year of 2024. Article 400.5 of the almost 500-page document reveals the planned studies to define crypto assets, which might be taxed appropriately afterward. Crypto asset providers,…

The Federal Reserve Board continues to research a central bank digital currency (CBDC), or at least adjacent technologies, Vice Chair Michael Barr said on Oct. 27. He also touched on stablecoins at the Economics of Payments XII Conference, where his English colleague Sir Jon Cunliffe made his last speech as deputy governor of the Bank…

A new bridged token from cross-chain protocol LayerZero is drawing criticism from nine protocols throughout the Ethereum ecosystem. A joint statement from Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer and Router on Oct. 27 called the token’s standard “a vendor-locked proprietary standard,” claiming that it limits the freedom of token issuers. Today, we're announcing…

For more than a decade, the primary narratives surrounding Bitcoin have focused on its role as a peer-to-peer digital cash and store of value. However, all indications suggest that we are witnessing a significant shift in this paradigm. Since the beginning of 2023, one of the most discussed topics in the Bitcoin ecosystem has been the…

A new Coinbase report on the state of crypto has revealed the disillusionment of younger generations (Gen Z and Millennials) with the traditional American dream and the financial system. It shows young Americans are more open than older generations to unconventional paths to financial independence, such as crypto, than older generations. According to the report, young…

Could Bitcoin be headed for an imminent pullback? Some crypto market observers believe the answer could be hiding within the price action of a frog-themed memecoin. In an Oct. 27 post on X (formerly Twitter), Onchain Capital co-founder and Crypto Banter host Ran Neuner suggested that memecoin Pepe is a strong indicator of overblown crypto market fever….

Bitcoin faces a “trigger” moment that keeps a $1-million BTC price tag in play, one of its household names says. In a blog post titled “The Periphery” released on Oct. 24, Arthur Hayes, former CEO of crypto exchange BitMEX, said that Bitcoin is already warning markets about the future. “Global wartime inflation” to drive Bitcoin and…

Polygon Labs has launched the Ethereum contract for the new Polygon token, POL, according to an Oct. 25 announcement. The new token is intended to replace the ecosystem’s current token, MATIC. However, the team said users presently don’t need to exchange their MATIC for POL. The POL token upgrade is now live on Ethereum mainnet. Polygon…