Cryptocurrency has been a hot topic for years, with investors and enthusiasts alike drawn to its decentralized nature and potential for massive returns. However, recent events have highlighted the risks associated with cryptocurrencies, including regulatory challenges and market volatility.
In a recent episode of "Last Week Tonight," John Oliver broke down some of the recent cryptocurrency-related companies that have imploded, including BitConnect and OneCoin. These companies promised high returns on investment but were ultimately revealed to be Ponzi schemes, leaving investors with nothing.
Coinbase Global Inc filed a petition on Monday in an effort to compel the U.S. Securities and Exchange Commission (SEC) to create new rules for cryptocurrency trading. The firm says the SEC ignoring its petition from July amounts to a "pocket veto." Coinbase is asking the court to require the SEC to respond to its petition within 60 days.
Cryptocurrency exchange Coinbase took action against the Securities and Exchange Commission (SEC) late Monday, asking a federal court to overturn the agency's decision to label its proposed Lend product as a security. The SEC had threatened to sue Coinbase if it launched the product, which would allow users to earn interest on their crypto holdings.
The Justice Department said on Monday that it had indicted four men on charges of laundering virtual currency stolen by an unnamed hacker from a cryptocurrency exchange. The men allegedly used a network of shell companies to launder more than $100 million in stolen funds.
Prices of bitcoin and ether—the two largest cryptocurrencies by market capitalization—are usually closely correlated, but that's changing, according to a recent report by CoinDesk. The report suggests that ether's decoupling from bitcoin could be a sign of a maturing cryptocurrency market.
According to a disclosure, Ben Labolt owns at least one bitcoin, and will be unable to serve in relation to matters related to past clients. Labolt is a former press secretary for President Obama and currently works as a public relations consultant.
Bitcoin is the most dominant cryptocurrency in terms of market capitalization, adoption and acceptance. But it's not the only crypto out there. Other popular cryptocurrencies include ether, Binance Coin, and Cardano.
This week's cryptocurrencies to keep an eye on are BitTorrent (BTT), Zilliqa (ZIL), UNUS SED LEO (LEO), Toncoin (TON), and TRON (TRX). These cryptocurrencies have all shown growth potential and could be worth investing in.
