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Videogames based on blockchain networks appear to be a prime target for thieves, raising more concerns about the security of cryptocurrencies held on these decentralized gaming networks. Thieves targeting Axie Infinity, a popular blockchain-based videogame, made off with 173,600 ether tokens and $25.5 million in USDC, a type of stablecoin that is pegged to the dollar. The theft occurred on March 23, according to developers of Axie, but was announced publicly on March 29. At recent prices for ether, the heist was worth about $615 million, down slightly from the $625 million value when the theft was disclosed. Axie is...

A 33-year-old French cryptocurrency expert who was shot at point-blank range by a robber trying to steal his $450,000 Richard Mille watch says he believes he was targeted and followed for hours or days before being ambushed outside his Manhattan hotel. Pierrick Jamaux told DailyMail.com he is shocked by how dangerous the city has become and would never have visited had he known how much it had changed since he lived there 10 years ago. The entrepreneur, who was visiting from Hong Kong with his Australian model wife, Sarah Watts, 26, was getting out of an Uber at the Fifty...

LONDON, March 17 (Reuters) - Consumers risk losing all their money invested in cryptoassets and could fall prey to scams, the European Union's securities, banking and insurance watchdogs said in a joint statement on Thursday. "Consumers face the very real possibility of losing all their invested money if they buy these assets," the three EU authorities said in a statement. It marks a racheting up of direct warnings to consumers about cryptoassets by EU authorities, spelling out that consumers have no protections or recourse to compensation under existing EU financial services law. Regulators are increasingly worried that more consumers are...

TO THEIR champions, cryptocurrencies are supposed to be a libertarian utopia. Because tokens are created and moved by loose, decentralised networks of individual computers based in dozens of countries, they are in theory free from control by intermediaries, such as banks, which can be regulated by governments. Critics of crypto-finance have long looked askance at the same system. To statists, it represents the tyranny of techno-anarchy. Russia’s invasion of Ukraine and the West’s subsequent sanctions on Russian banks, companies and elites have intensified this debate. Warnings from politicians and regulators in America and Europe suggest fears are high that people...

A U.S. digital currency could be on the horizon. The Biden administration is putting its support behind the research and development of a “U.S. Central Bank Digital Currency,” or CBDC. The move is part of a sweeping executive order President Joe Biden signed Wednesday instructing the federal government to explore possible uses of and regulations for digital assets like cryptocurrencies. "My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC," the executive order reads. The order asks for a wide variety of agencies to begin research and...

Outlines First Whole-of-Government Strategy to Protect Consumers, Financial Stability, National Security, and Address Climate Risks Digital assets, including cryptocurrencies, have seen explosive growth in recent years, surpassing a $3 trillion market cap last November and up from $14 billion just five years prior. Surveys suggest that around 16 percent of adult Americans – approximately 40 million people – have invested in, traded, or used cryptocurrencies. Over 100 countries are exploring or piloting Central Bank Digital Currencies (CBDCs), a digital form of a country’s sovereign currency. The rise in digital assets creates an opportunity to reinforce American leadership in the global...

Blog/Cryptocurrency Posted Mar 8, 2022 by Martin Armstrong Spread the love more I warned ion the private blog that cryptocurrencies may end up being suspended. The excuse will be Russia and the news is out now that Biden will sign an Executive Order to regulate cryptos because Russia can use it to circumvent sanctions. Not only is Biden authorizing the regulation of digital currencies, but he is also instructing to move forward with a central bank cryptocurrency. Once that is done, all other cryptocurrencies will be seized and folded into the government’s crypto. There will be no competition. Money historically...

With the conflict between Russia and Ukraine dominating the recent news cycle, it’s likely you’ve been hearing more and more about cryptocurrency. Countries around the globe have imposed sanctions on Russia and frozen accounts of oligarchs. This has sent the Russian Ruble into a tailspin. When fiat currency is in decline, people ad business will search out other means of payment.As a result, we’ve seen cryptocurrencies used to supplement fiat currency as well as to aid Ukraine through large donations of Bitcoin, Ethereum, and Polkadot. The crisis in Ukraine has only aided in the adoption of cryptocurrency and the trend...

President Joe Biden is expected to issue an executive order this week that would direct government agencies to develop a strategy to regulate digital assets. It was reported in January that the Biden administration was preparing an executive order to study cryptocurrencies with the aim of developing a government-wide framework to regulate digital assets. The executive order would also mandate government agencies investigate the possibility of launching a central bank digital currency (CBDC) issued by the US Federal Reserve. The move comes as it is unlikely that Congress will put in place any legislation to standardize rules for crypto. The...

Sen. Ted Cruz Full Speech at CPAC 2022 in Orlando

There are no other constitutional rights in substance without freedom to transact Being meaning to write this for 6 months, but the Canadian response to the trucker protests is illustrating this so vividly, that today is the day. I assume we are in agreement that constitutional democracies are a good form of government or, at least, a better form of government than the other methods we have found to-date. This means that I am taking for granted the following assumptions. - People have fundamental rights to speech, assembly, religion and so on - People are innocent until proven guilty -...

Elon Musk has compared Canadian Prime Minister Justin Trudeau to Adolf Hitler in a meme criticizing his crackdown on Freedom Convoy protests. Musk, the world's richest man and a cryptocurrency advocate, posted the meme on Twitter early Thursday, responding to reports that Mounties are seeking to freeze crypto wallets tied to the protests. The image depicts the Nazi dictator Hitler with the text: 'Stop comparing me to Justin Trudeau... I had a budget.' The reference to a 'budget' is unclear and suggests the meme is recycled from some prior controversy over Canada's government spending. Musk was responding to a report...

This is an 11 min video discussing an on-line cryto project called, Cryptoland. Although Cryptoland is an on-line community they discuss buying an island in Fiji where the age of consent is "mental maturity". The project has been dubbed "Epstein Island". Crytoland is Embarrassing (11 min video)

*** The banking giant said Bitcoin is nearing a “hyper-adoption phase” similar to the internet in the mid-to-late 1990 *** It is not too late to invest in bitcoin, said multinational financial services giant Wells Fargo in a Monday report, drawing parallels between the adoption rates of the internet in the 1990s and that of cryptocurrencies today. Wells Fargo’s global investment strategy team explained in the report that Bitcoin’s over 200% annualized gains since its first transaction in 2010 often lead some investors to think that it may be too late to join the party. However, the big bank disagrees....

The world’s largest asset manager, BlackRock, is reportedly planning to offer a bitcoin trading service to its investor clients, three people familiar with the matter told CoinDesk. BlackRock entering the Bitcoin space by offering investment products to its clients could represent a watershed moment to the digital currency given that the New York-based firm manages over $10 trillion in assets for institutional investors. One of the people reportedly said the asset manager would let its clients get access to loans by putting up cryptocurrency as collateral with “client support trading and then with their own credit facility.” BlackRock’s over 1,500...

Another must-pass bill, another rushed policy that severely damages the privacy and constitutional rights of cryptocurrency users. We’ve just seen language in the America COMPETES Act of 2022 (see page 1482)—a bill ostensibly about economic competitiveness with China—that would strip all administrative procedures and safeguards from the imposition of so-called “special measures” prohibitions in the Bank Secrecy Act while simultaneously expanding authority for such prohibitions to cryptocurrency activities. In brief, it would hand the Treasury Secretary unchecked discretion to forbid financial institutions (including cryptocurrency exchanges) from offering their customers access to cryptocurrency networks. The Secretary may not use this discretion...

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The Biden administration is preparing to release an executive action that will task federal agencies with regulating digital assets such as Bitcoin and other cryptocurrencies as a matter of national security, a person familiar with the White House’s plan tells Barron’s.The national security memorandum, expected to come in the next few weeks, would task parts of the government with analyzing digital assets and assembling a regulatory framework that covers cryptos, stablecoins, and NFTs, or non-fungible tokens, this person...

According to a recent survey by Capitalize, an IRA rollover service, 56% of Gen Z adults (18+) and 54% of millennials say they are including cryptocurrency or NFTs as part of their retirement strategy. That’s compared to only 20% of Gen X and 14% of baby boomer survey respondents who said they are investing in crypto to help them save for retirement. (How reliable is this survey data? Capitalize noted that respondents were gathered through the Amazon Mechanical Turk survey platform, and that their answers were "self-reported and are subject to issues, such as exaggeration, recency bias, and telescoping." For...

The International Monetary Fund is warning there is a growing connection between cryptocurrency and financial markets, which poses risks to the financial system. In a report, the international body says digital assets are no longer on the “fringe” of the financial system. Given their high volatility, the rising correlation between cryptocurrencies and stocks could soon pose risks to financial stability— especially in countries that have adopted digital units. “The correlation of crypto assets with traditional holdings like stocks has increased significantly, which limits their perceived risk diversification benefits and raises the risk of contagion across financial markets,” the IMF wrote....