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Crypto News Today – June 12, 2024
Welcome to today’s edition of “Crypto News Today”, where we bring you the latest highlights from the world of cryptocurrencies.
AI is accelerating crypto fraud and fraud
The rapid advancement of AI technology is facilitating the rise of crypto website fraud and influencer scams. Sophisticated AI algorithms are being used to create fake websites and personas, making it harder for investors to distinguish between legitimate and fraudulent actors in the crypto space. Read all about it on the TDR website!
Bitcoin pullback to $66,000 triggers liquidations worth $250 million
Bitcoin’s recent pullback to $66,000 resulted in $250 million in cryptocurrency liquidations. Traders are bracing for significant market volatility ahead of the Federal Open Market Committee (FOMC) and Consumer Price Index (CPI) reports, which are expected to further influence the crypto market. This crypto news was reported on CoinDesk.
Ripple Expands in Asia with New Blockchain Fund
Ripple is making a strategic effort to dominate the Asian market with the launch of a new blockchain fund. This initiative aims to support innovative blockchain projects and increase Ripple’s presence in the growing Asian crypto ecosystem.
US government seizes $200,000 worth of Tether from crypto scam
To combat crypto fraud, the US government seized $200,000 worth of Tether, which was linked to a crypto “pig slaughter” scheme. This type of scam involves long-term manipulation of victims to extract significant amounts of cryptocurrencies.
Solana-Based Memecoin Successfully Launched, BRETT Reaches $1 Billion Market Cap
A new Solana-based memecoin was launched to significant fanfare, while another memecoin, BRETT, reached a notable milestone by reaching a market cap of $1 billion. This surge in interest highlights the continued popularity and speculative nature of meme coins in the crypto market.
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