Month: July 2024

The Securities and Futures Commission (SFC) of Hong Kong has issued a public warning regarding Proxinex, an entity suspected of virtual asset-related fraud. Investors have encountered issues withdrawing virtual assets from Proxinex, later being informed that their accounts were nonexistent. The SFC suspects Proxinex enlisted an agent to attract investors through dating apps, possibly using […] Source: https://news.bitcoin.com/hong-kong-regulator-warns-against-proxinex-for-suspected-virtual-asset-fraud/

The U.S. federal government’s outstanding borrowing has now reached a staggering $35 trillion. In the past and among other nations, rising national debt has led to increased inflationary pressures and eroded confidence in traditional fiat currencies.  Yet unlike other times in history, sovereign nations and investors alike have an opportunity to buy crypto as a hedge against those pressures, Rich…

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This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this article, writer Dexter of Blocmates explains Avalanche’s exciting forthcoming update, Avalanche Community Proposal 77. To do so, Dexter gives an overview of Avalanche’s unique architecture. […] Source: https://news.bitcoin.com/an-avalanche-reawakening/

A group of four Hong Kong fraudsters, who swindled victims’ digital assets worth $1.4 million between October 2023 and July 2024, have been apprehended. The suspects, aged 14 to 39, are charged with conspiracy to defraud and possession of 5,000 counterfeit banknotes. According to Hong Kong laws, producing and circulating counterfeit currency can result in […] Source: https://news.bitcoin.com/hong-kong-police-arrest-quartet-accused-of-using-counterfeit-banknotes-to-swindle-crypto-traders/

A survey conducted by Binance revealed that more than half of all cryptocurrency users in Latin America utilize crypto as a long-term investment, choosing to hold onto their digital assets. The survey, which polled 10,000 users from Argentina, Brazil, Colombia, and Mexico, indicates that the number of users in this group exceeds the number of […] Source: https://news.bitcoin.com/binance-survey-half-of-all-latin-american-crypto-users-treat-it-as-a-long-term-investment/

The U.S. national debt has exceeded $35 trillion, highlighting the country’s severe fiscal challenges as debates over taxes and spending continue. The Congressional Budget Office forecasts the debt could surpass $56 trillion by 2034, driven by rising expenditures and interest costs outpacing tax revenues. High interest rates, unexpected pandemic-related program costs, and robust demand for […] Source: https://news.bitcoin.com/us-debt-crisis-deepens-as-national-debt-surpasses-35-trillion/