Crypto News – ETF approvals are yet to come, adding to the speculation that is already rife. This further complicates an already volatile situation.
January 8 Crypto News: The Agenda Was Very Heated Again
So, what happened yesterday? First of all, SEC chairman Gary Gensler warned users about crypto. Then, this time, the SEC issued another warning about FOMO. Finally, the infamous North Korean hacker Lazarus Group became a hot topic once again.
Gensler Did Not Mention ETF But Warned About Crypto
As the regulator prepares to approve a spot Bitcoin ETF, SEC Chair Gary Gensler has issued several cautions on the safety of investing in cryptocurrencies. Gensler warned investors that cryptocurrency could be extremely dangerous and volatile in a piece published on January 8 on X. A Bitcoin ETF was not directly mentioned by him.
Fraudsters continue to exploit the rising popularity of crypto assets to lure retail investors into scams. These investments continue to be replete w/ fraud- bogus coin offerings, Ponzi & pyramid schemes, & outright theft where a project promoter disappears w/ investors’ money.
Gensler
SEC Continues to Warn Investors about FOMO
A caution regarding FOMO when investing in trade funds for cryptocurrency has been renewed by the US Securities and Exchange Commission (SEC). The SEC’s Office of Investor Education cautioned individual investors once more about the dangers of dealing with digital assets, such as meme stocks, cryptocurrencies, and NFTs, in a post published on X on January 6.
Lazarus Group Thought to Have Stolen $600 Million So Far
Blockchain intelligence company TRM Labs claims that in 2023, the Lazarus Group connected to North Korea embezzled $600 million worth of digital assets. North Korea’s money laundering techniques are always changing, according to TRM Labs, in order to elude pressure from international law enforcement. Usually, these hackers aim for the users’ seed phrases or private keys before moving the pilfered money into the wallets under North Korea’s control.
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