Tag: Investors

Sam Bankman-Fried deepfake attempts to scam investors impacted by FTX

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A faked video of Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, has circulated on Twitter attempting to scam investors affected by the exchange’s bankruptcy. Created using programs to emulate Bankman-Fried’s likeness and voice, the poorly made “deepfake” video attempts to direct users to a malicious site under the promise of a “giveaway” that will “double your cryptocurrency.” Over the weekend, a verified account posing as FTX founder SBF posted dozens of copies of this deepfake video offering FTX users “compensation for the loss” in a phishing scam designed…

Investors Short Crypto Assets as Industry Scrutiny Intensifies

Short investment products, which bet on the price of an asset to drop, accounted for 75% of all inflows, a report by digital asset investment and trading group CoinShares found. Inflows for bitcoin (BTC) totaled $14 million, but considering the popularity of short-term investment vehicles, net flows added up to a negative $4.3 million. Source

GBTC Bitcoin discount nears 50% on FTX woes as investors stock up

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The largest Bitcoin (BTC) institutional investment vehicle is coming under suspicion as it trades at a record discount. The Grayscale Bitcoin Trust (GBTC) is the latest Bitcoin industry entity to feel the heat from the debacle over defunct exchange FTX. FTX woes see Coinbase pledge trust in GBTC owner With contagion and fears over a deeper market rout everywhere in Bitcoin and altcoins at present, misgivings are impacting even the best-known — and trusted — crypto industry names. In recent days, it was the turn of GBTC, the long-embattled Bitcoin…

Singapore police warn investors against FTX phishing scams: Report

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The Singapore Police Force has warned investors to be weary of fake websites claiming they can help them recover funds from the now-bankrupt cryptocurrency exchange FTX.  On Nov. 19, the police issued a warning about a website claiming to be hosted by the United States Department of Justice that prompts FTX users to log in with their account credentials, local news agency Channel News Asia reported. The website, which was not identified, targets local investors affected by the FTX collapse, claiming that customers “would be able to withdraw their funds…

Investors Continue to Learn More About FTX’s Mismanagement

Bitcoin remained steady snugly above its most recent $16,000 support, as investors continued to shrug off the latest developments from the FTX collapse. The largest cryptocurrency by market capitalization was recently trading at about $16,600, roughly flat over the past 24 hours. BTC sank less than 2% for the week. How long markets hold tight is unclear, say analysts. Source

Lower Cap Altcoins May End Up Being Delisted From Exchanges To Protect Investors, Warns Crypto.com CEO

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Crypto.com CEO Kris Marszalek says exchanges could potentially protect consumers more amid market volatility at the cost of low-cap crypto assets. In a new interview on CNBC’s Squawk Box, Marszalek says that the meltdown of FTX is causing liquidity problems that could lead to crypto exchanges pulling out support for smaller coins in their platforms. “If you see the liquidity evaporate in the market, what is going to happen is the smaller currencies that are really illiquid are facing a risk of being delisted from different exchanges in an effort…

A Large Number of Bitcoin Retail Investors Incur Losses, BIS Study Reveals

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The BIS (Bank of International Settlements) is a Switzerland-based bank belonging to 63 national central financial institutions that recently revealed a new survey based on Bitcoin. Primarily, the BIS offers various banking services to several national central banks. Also, it creates a platform for regulatory policies and monetary discussions. The organization also delivers analysis based on the economy of the nations. The member central financial institutions of the BIS elected about 18 directors to govern its operations. The central member financial institutions consist of the governors of the central banks…