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Crypto News Today – June 12, 2024
Welcome to today’s edition of “Crypto News Today”, where we bring you the latest highlights from the world of cryptocurrencies.
Artificial intelligence is accelerating cryptocurrency fraud and scams
The rapid advancement of AI technology is facilitating an increase in crypto website fraud and influencer scams. Sophisticated AI algorithms are being used to create fake websites and personas, making it harder for investors to distinguish between legitimate and fraudulent actors in the crypto space. Read all about it on the TDR website!
Bitcoin Pullback to $66,000 Triggers $250 Million Liquidations
Bitcoin’s recent drop to $66,000 resulted in $250 million worth of cryptocurrency liquidations. Traders are bracing for significant market volatility ahead of Federal Open Market Committee (FOMC) and Consumer Price Index (CPI) reports, which are expected to further impact the cryptocurrency market. This crypto news was reported on CoinDesk.
Ripple Expands into Asia with New Blockchain Fund
Ripple is making a strategic push to dominate the Asian market with the launch of a new blockchain fund. This initiative aims to support innovative blockchain projects and strengthen Ripple’s presence in the rapidly growing Asian crypto ecosystem.
US Government Seizes $200,000 in Tether from Crypto Scam
To combat crypto fraud, the US government seized $200,000 in Tether, which was linked to a “pig slaughter” crypto scam. This type of scam involves long-term manipulation of victims to mine significant amounts of cryptocurrency.
Solana-based Memecoin Successfully Launches, BRETT Reaches $1 Billion Market Cap
A new memecoin based on Solana launched with considerable fanfare, while another memecoin, BRETT, reached a notable milestone by reaching a market capitalization of $1 billion. This surge in interest highlights the continued popularity and speculative nature of meme coins in the cryptocurrency market.