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Cryptoโs next bull run will come from the East ๐ช๐
Cryptoโs next bull run will start in Asia, according to Cameron Winklevoss, an American investor and co-founder of crypto exchange Gemini.
The comments come in the wake of a U.S. regulatory war on the industry as the Securities and Exchange Commission ramps up its enforcement.
โIt will be a humbling reminder that crypto is a global asset class and that the West, really the US, always only ever had two options: embrace it or be left behind.โ
โIt will take quite some time to melt Western cynicism towards this space, but the East is ascending and yearning to flex.โ
๐ญ Do you agree with his statement?
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California regulator launches complaint-based crypto scam tracker ๐๐งโโ๏ธ
The California Department of Financial Protection and Innovation has launched a new crypto scam tracker to help traders and investors spot possible industry threats.
The tracker is based on user complaints, with the department compiling a list of crypto-related grievances by victims who claim to have been scammed or have identified attempted scams. It also has a search function enabling users to look up potentially fraudulent websites or crypto projects in advance.
Imposter websites are one of the most commonly reported scams. โWhen companies or websites (fake or not) have a look- or sound-alike names, the potential confusion created for consumers is real,โ DFPI said.
โ๏ธWe often warn you that scammers send DM first to ECOS users in social media and ask for payments or to take part in private auctions.
โ๏ธECOS staff would never do thatโ๏ธ
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SEC Sues Over TerraUSD Stablecoin ๐จ
The SEC alleged in federal court on Thursday that Terraform Labs and Kwon offered and sold unregistered securities, including the stablecoin, and carried out a scheme that wiped out at least $40 billion worth of market value.
The agency also accused the company and Kwon of misleading investors, including by making false statements about a relationship with a popular South Korean mobile payment app called โChaiโ and about the stability of the stablecoin, which was marketed as maintaining a 1-to-1 peg to the US dollar.
When the value of token dropped below $1, the company and Kwon asked a secret third party to intervene and buy large quantities to pump up its value.
Kwonโs whereabouts are currently unknown.
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