US License Expiration Imperils Russia-China Trade in Chinese Yuan

A U.S. license allowing transactions with key players in Russia’s financial system expires on Oct. 12. This could make it harder and more expensive for Russian businesses to trade with China in yuan. The yuan is currently the most traded foreign currency in Russia after Western sanctions and Russia’s de-dollarization efforts. Chinese banks are wary of violating U.S. sanctions and the Russian central bank is hesitant to provide more yuan liquidity.
Importers fear a yuan shortage or Chinese banks refusing Russian payments altogether.
Expiry of the license could halt yuan conversion and open positions on the Moscow Exchange. This would further complicate Russia-China trade, which already faces delays and higher costs.#Write2Earn

Trump Opens KYC Whitelist for New World Liberty Financial Crypto Project

On Monday, former President Donald Trump announced that the whitelist for World Liberty Financial (WLF) is now open to eligible individuals. Addressing his 91 million followers on X, he called it their “chance to be part of this historic moment.”
Trump’s Latest Crypto Venture World Liberty Financial Whitelist Goes Live
The know-your-customer (KYC) process for the Trump family decentralized finance (defi) project has kicked off, according to the WLF website, worldlibertyfinancial.com. This follows details released in mid-Sept. about the Trump defi project, which will feature a coin called the WLFI token, with 63% of it offered to the public under the U.S. Securities and Exchange Commission’s Regulation D rules.
On Sept. 30, Trump reached out to his X followers, explaining that WLF whitelisting had begun. “I promised to Make America Great Again, this time with crypto,” Trump said. “[World Liberty Financial] is planning to help make America the crypto capital of the world! The whitelist for eligible persons is officially open – this is your chance to be part of this historic moment.”

Visitors to the website are prompted to choose if they reside inside or outside the U.S., and then they are directed to begin the KYC process. Users are asked to connect their Web3 wallet, which serves as their KYC identifier for verification. The site explains, “We’ll use it to check if you’ve completed the KYC process, whether it’s pending review, or if any action is required.”
Additional information about WLF is available only to individuals who complete the KYC process. Currently, Trump is in a tight race with 2024 Democratic candidate Kamala Harris, as shown by nationwide polls and prediction markets. Trump mentioned that his newfound interest in crypto began when he launched his non-fungible token (NFT) project, surprised by how many purchases were made using crypto.
Over the past year, Trump has pursued numerous merchandising ventures. Alongside Trump NFTs, he has rolled out the Trump ‘Victory’ Tourbillon watch, ‘Never Surrender High-Tops’ sneakers, Trump Bitcoin sneakers, Trump first edition silver coins, Trump-themed bibles, and even a Trump-branded cologne dubbed ‘Victory47.’
What do you think about Donald Trump’s crypto project and upcoming coin? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Bitcoin Price in South Korea Sees Largest Discount Since October 2023

According to recent data, the premium for bitcoin in South Korea briefly turned into a discount last week, a rarity since October 2023. While the premium quickly bounced back, it’s still hovering just below 1%.
Bitcoin Sees Steep Discount in South Korea, Premium Quickly Rebounds but Stays Below 1%
On Sept. 23, bitcoin (BTC) in South Korea was trading at a discount, its largest since October 2023, according to figures from cryptoquant.com (CQ). Specifically, the price was 0.55% below the global average. By Sept. 25, CQ reported that the discount had widened to 1.15%. But by the next day, the premium was back, with BTC trading 0.57% higher than the worldwide average.

Just two days ago, on Sept. 28, South Korea’s bitcoin exchange rate had aligned with the global average. South Korea often experiences a premium on bitcoin due to high demand, strict capital controls, and a more limited cryptocurrency supply. For instance, Upbit, the country’s top exchange by trade volume, offers far fewer coins than many global competitors.
While Binance boasts 425 coins and Bybit offers 662, Upbit lists just 215, and Bithumb carries 299. As of 2:30 p.m. EDT on Sept. 30, the South Korean premium stood at 0.60% on Upbit. Earlier this year, the premium hit significantly higher marks—on March 15, 2024, the day after BTC soared to $73,737, CQ recorded a premium of 10.88%.
Bitcoin is kicking off the week on a rough note, slipping 4% against the U.S. dollar over the past 24 hours. This Monday dip drags its weekly return down to a slight loss of 0.5%. On the evening of Sept. 29, BTC was hovering around $66,000, but by Monday’s trading sessions, the top crypto had been fighting to stay above the $63,000 mark as of 2:45 p.m. EDT.
What are your thoughts on last week’s bitcoin discount in South Korea? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Cantor Fitzgerald CEO: Bitcoin Is a Commodity, Should Be Treated Like Gold and Oil

Howard Lutnick, CEO of Cantor Fitzgerald, says bitcoin is a commodity. “When you truly understand bitcoin, it’s hard to see it any other way,” he said, adding that the crypto “should be treated like gold and like oil.” While stating that other digital assets may vary, he firmly maintained that BTC is a commodity.
Howard Lutnick Sees Bitcoin as a Commodity
Howard Lutnick, CEO of global financial services firm Cantor Fitzgerald, shared his view on bitcoin Friday in a post on social media platform X. Referencing his interview with Maria Bartiromo on Fox Business, he wrote:
Yesterday, I told Maria Bartiromo that bitcoin is a commodity. When you truly understand bitcoin, it’s hard to see it any other way.
In the interview, Maria Bartiromo asked Lutnick about his views on regulations governing commodities versus equities. The Cantor Fitzgerald CEO asserted that over the course of the next two decades, commodities and equities are likely to converge. “Eventually commodities and equities will kind of merge over a long period of time — over, maybe, 20 years,” he described.
The Cantor Fitzgerald executive then commented on crypto regulations, stating that regulators are unsure how to regulate the sector. “They don’t even know how to do crypto and digital at all. They have no idea. They still don’t understand how important it is to actually get it right,” he stressed, emphasizing:
They have no idea bitcoin is a commodity. It should be treated like gold and like oil, it’s just a commodity.
“Other digital currencies — different. Other digital assets — different. But bitcoin is a commodity. But why can’t they understand it? It just doesn’t make sense to me,” he opined.
Lutnick, a bitcoin advocate, wrote on X in July: “I am a fan of bitcoin. Cantor Fitzgerald is a fan of bitcoin, and our investment bank is a rockstar in the digital asset space. We are just getting started.” Earlier this month, he stated: “Over the last five years, bitcoin has been an outsider to the tradfi community, and it’s only now dipping its toe into global finance. Cantor will help tradfi bring bitcoin all the way in. Tradfi wants new asset classes, and BTC is here to stay.”
What do you think about Howard Lutnick’s perspective on bitcoin being a commodity? Let us know in the comments section below. #Write2Earn

61 New Bitcoin Addresses Holding 1,000 to 10,000 BTC Emerge in 2024

Recent data reveals that bitcoin wallets holding between 0.1 and 1 BTC have grown by an impressive 9,563 since the year began. Meanwhile, the number of crab wallets containing 1 to 10 BTC has shrunk by 7,783. Bitcoin dolphins, sharks, and whales, those with between 100 to 10,000 BTC, made a noticeable splash, with 101 new addresses surfacing since early January.
Address Shifts and Global Bitcoin Adoption
As of Sept. 29, 2024, according to bitinfocharts.com, a total of 21.83 million bitcoin addresses hold more than $100 worth of BTC. This marks a jump of 2 million addresses since the first week of January. Back then, 8.9 million addresses held over $1,000 in bitcoin, but that number has swelled by 1.63 million to reach 10.53 million today. For those tracking the bitcoin rich list, addresses holding more than $10,000 in BTC rose by 781,250, climbing from 2.72 million to 3.5 million.
Bitcoin dolphins (100 to 500 BTC), sharks (500 to 1,000 BTC), and whales (1,000 to 10,000 BTC) have welcomed 101 new addresses into their ranks. Of these, 40 fresh wallets now hold between 100 and 1,000 BTC, with those wallets valued between $6.56 million and $65.6 million. At present, 13,960 addresses fall into this range. Additionally, 61 new addresses have appeared since January, each holding between 1,000 and 10,000 BTC, or between $65.6 million and $656 million in value.
Right now, less than 2,000 addresses (1,975 to be exact) boast between 1,000 and 10,000 BTC. As for the largest bitcoin holders, there were 107 addresses controlling between 10,000 and 250,000 BTC at the start of the year, but that number has dipped slightly to 103. On Sunday, Mohamad Hassan Fahs, better known as Sani and the founder of timechainIndex.com, shared an interesting update on X regarding individual investors now holding around 11.6 million BTC.
He pointed out that the latest data shows there are 54,411,314 bitcoin addresses with a combined balance of 19.76 million BTC. Of these, 12,423,601 addresses each contain more than 1 million satoshis, accounting for almost 19.71 million BTC. According to Sani, timechainIndex.com data also highlights that about 155,000 addresses are tied to non-individual entities like exchanges, corporations, and governments, collectively holding approximately 8.1 million BTC.
His data suggests that the remaining 12.27 million addresses, assuming most are likely held by individual investors, collectively manage about 11.6 million BTC. Sani noted that if we assume each address represents a single person, it implies that around 0.15% of the world’s population holds a notable amount of bitcoin. “This highlights how early we are in the broader adoption of bitcoin, with current levels still falling short of many expectations,” he remarked.
The timechainIndex.com founder added:
Despite increasing awareness and institutional interest, only a small fraction of the global population currently holds a meaningful amount of bitcoin, showing that widespread adoption is still in its early stages.
What do you think about the address shifts in 2024 and the timechainIndex.com founder’s metrics? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Ghana Launches Gold Coin Priced in Local Currency

Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction price. Despite efforts to strengthen the cedi, Ghana’s currency continues to depreciate against the U.S. dollar.
Gold Coins Priced in Local Currency
Ghana has launched a gold coin to encourage domestic savings and assist with managing money market liquidity. The coin, refined to 99.99% purity, is issued and guaranteed by the Bank of Ghana (BOG). The gold coins will reportedly come in one, half, and quarter ounces.
According to a Bloomberg report, the coins will become available in the first two weeks of October. Residents interested in purchasing the coins will be able to do so using Ghanaian cedi. BOG governor Ernest Addison said the coins are priced based on the London Bullion Market Association (LBMA) auction price.
“The Ghana gold coin enables the Bank of Ghana to mop up excess liquidity in the banking sector and will supplement the bank’s bills for liquidity management. It gives those resident in Ghana an additional avenue to invest to reap the benefits of the Bank of Ghana’s domestic gold purchase program,” Addison said.
Cedi Weakens Against Dollar
Launching the gold coin is the latest action by the Ghanaian central bank to boost demand for the cedi. As previously reported by Bitcoin.com News in late 2022, Ghana also took steps to bolster the Ghanaian cedi when it launched the “gold for oil scheme.” Under that arrangement, the BOG required large gold producers to sell the gold to it at a 20% discount.
As noted in the Bloomberg report, the Ghanaian central bank has acquired 65.4 tons of gold valued at $5 billion since it launched the oil for gold scheme. However, despite taking these steps, the Ghanaian currency has continued to slide against the U.S. dollar. In June, the cedi’s exchange rate to the dollar plunged to its lowest at the time following reports that Ghana’s cocoa production would miss the initial projected output by around half.
At the time of writing (14.00 hours EST, Sept 30, 2024), the cedi was trading at around 15.77 to the U.S. dollar, a new low for the currency.
What are your thoughts on this story? Share your opinion in the comments section below. #Write2Earn

Digital Asset Platforms Lose a Record $2.1B in 2024, Mostly Due to Hacks

A Cyvers report reveals that centralized and decentralized digital asset platforms suffered $2.114 billion in losses in the first nine months of 2024, surpassing 2023’s total. Hacks and breaches account for the majority of these losses, emphasizing the need for enhanced security measures.
Centralized Exchange Hacks Surge Nearly 1,000%
Cybersecurity Cyvers’ analysis shows that losses suffered by centralized and decentralized digital asset platforms in the first nine months of 2024 reached $2.114 billion, an all-time high. This surpasses the 2023 total of $1.69 billion. High-profile breaches and hacks, as highlighted in a recent Cyvers report, account for most of these losses, emphasizing the need for stronger security protocols.
Centralized exchanges (CEX), which previously had a smaller share of losses, saw a 984% year-over-year increase in hacks. The report identified five high-profile hacks and breaches in the second quarter alone.
“In Q2 2024, centralized exchanges experienced a notable surge in hacks, culminating in a total loss of approximately $401 million across five significant incidents. The most prominent of these was the DMM Bitcoin exchange breach, which resulted in a staggering $305 million loss, marking it as one of the year’s largest CEX breaches. Additionally, Btcturk, a Turkish exchange, was hit hard with a $55 million loss,” the report states.
Meanwhile, decentralized finance (defi) platforms experienced a 25% reduction in losses during Q2 2024 compared to Q2 2023. However, they still lost $171.3 million across 62 incidents in Q2 2024, primarily on Ethereum and BNB Chain.
Of the 131 incidents recorded in the first three quarters of 2024, Cyvers found 79 were smart contract exploits, and the rest were access control violations. The report concludes that the increasing number of incidents and losses highlights the need for proactive security measures and regulatory oversight to mitigate future risks and build a secure, resilient Web3 ecosystem.
What are your thoughts on this story? Share your opinion in the comments section below. #Write2Earn

Malicious Crypto-Stealing App Exposed on Google Play

An app on Google Play was discovered stealing cryptocurrency from users, employing advanced social engineering and trusted protocols. Check Point Research exposed the app after it had siphoned $70,000, deceiving over 150 victims. The attackers used the Walletconnect protocol to appear legitimate, manipulating Google search rankings and avoiding detection through encryption and obfuscation techniques.
Malicious App on Google Play Steals Cryptocurrency Using Walletconnect Protocol
Cybersecurity firm Check Point Research (CPR) shared on Thursday that it has “uncovered a malicious app on Google Play designed to steal cryptocurrency marking the first time a drainer has targeted mobile device users exclusively. ”
The app, which remained active for nearly five months, exploited the trusted Walletconnect protocol and tricked users through fake branding and social engineering tactics. The cybersecurity firm detailed that before the app was removed from Google Play:
It managed to victimize over 150 users, resulting in losses exceeding $70,000.
The attackers used the Walletconnect name to appear legitimate, achieving over 10,000 downloads by manipulating search rankings and using fake reviews. According to CPR, “Advanced social engineering” played a crucial role in deceiving users into downloading the app and connecting their cryptocurrency wallets. Once users interacted with the app, it prompted them to sign malicious transactions, allowing attackers to drain their digital assets silently.
The report mentioned, “Not all of the users who downloaded the drainer were affected,” adding:
Some didn’t complete the wallet connection, others recognized suspicious activity and secured their assets, and some may not have met the malware’s specific targeting criteria.
Further analysis by CPR revealed that the app avoided detection using sophisticated obfuscation techniques and anti-analysis methods, even bypassing Google Play’s security checks. The attackers used advanced redirection and encryption tactics to mask their true intentions. The app relied heavily on external malicious scripts, complicating detection and allowing attackers to remain hidden. CPR emphasized, “This incident highlights the growing sophistication of cybercriminal tactics,” especially in decentralized finance, where users often rely on third-party protocols to manage digital assets.
How do you feel about the rise of sophisticated crypto-stealing apps exploiting trusted protocols like Walletconnect? Let us know in the comments section below. #Write2Earn

Latam Insights: Argentina and El Salvador Fight Against the International Agenda

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Argentina rejects the UN’s Pact for the Future, President Nayib Bukele warns about the impending arrival of a dark age, and cryptocurrency imports reach record levels in Brazil.
Argentina Rejects UN Pact for the Future as Milei Breaks With International Agenda
Argentina has parted ways with the United Nations Pact of the Future, commonly called the 2045 Agenda. The resolution, which was approved by 193 countries by the UN General Assembly in New York on Monday, includes 56 different actions engineered to face the “greatest challenges of our time,” including social media censorship, artificial intelligence (AI) regulation, climate change, and the strengthening of global governance structures.
Foreign Minister Diana Mondino argued that earlier governments had proposed Argentina’s adhesion to this pact and that many points now clashed with the country’s new determination. However, Mondino stressed that they had proposed changes to the document that were not considered. She stated:
Nevertheless, we proposed constructive actions that were not always taken into account, and that led to us deciding to dissociate ourselves from the pact.
Mondino also declared that Argentina would continue to work towards solving the new Humanity’s challenges, but reinforced the need to have “wings” for peaceful growth.
Bukele Highlights El Salvador’s Rebirth, Warns About Coming ‘New Dark Age’ at United Nations
President Nayib Bukele issued a warning about the path that the Western world is taking, highlighting that El Salvador could become a shelter for the upcoming “new dark age.” Before the United Nations (UN) General Assembly on Tuesday, Bukele highlighted the achievements of El Salvador in several aspects, including its gang battles, personal security, and tourism, contrasting it with the regression of the same conditions in the world, including social media censorship.
Bukele stated that now Salvadorans could be free in their streets, while in cities of the so-called free world, these have been taken by drugs, homelessness, and petty crime. Bukele also charged against countries that have censored their citizens on social media and even arrested them for their posts.
In this regard, he stated that due to the problems that El Salvador has already faced, he has been able to discern certain signs that point to an actual decadence of the world and an upcoming dark age.
Cryptocurrency Purchases Soar in Brazil: $12.37 Billion Spent YTD
The demand for cryptocurrency in Brazil has greatly increased, and platforms have also purchased more crypto to offer their users. The Central Bank of Brazil has recently released data that indicated that cryptocurrency purchases, considered imports by the government, have soared during 2024, reaching $12.37 billion from January to August.
This number has already beaten the imports registered during 2023, which reached $12.30. The figures dwarf the $7.42 billion registered for the same period in 2023, signaling an acceleration of customer demand for crypto in the country.
Valor Economico clarified that this report included both cryptocurrencies with an issuer, such as stablecoins, and without an issuer, such as bitcoin. Fernando Rocha, head of statistics at the central bank, explained that these numbers corresponded to the demand of trading companies and exchanges seeking to satisfy the demand of their customers.
What do you think about this week’s Latam Insights report? Tell us in the comment section below. #Write2Earn

China-Russia Alliance Expands, Elevating US Risks in Asia and Middle East

Frederick Kempe, CEO of the Atlantic Council, highlighted two pressing concerns at the UN General Assembly: the intensifying China-Russia partnership and doubts over US leadership. Alongside former Secretary of State Condoleezza Rice, he warned of mounting global threats, comparing today’s risks to the Cold War. China’s support for Russia and Iran is escalating conflicts, demanding bold leadership from the US and its allies to counter these developments.
China-Russia Cooperation Endangers Global Stability, Warns Kempe
Frederick Kempe, president and chief executive officer of the Atlantic Council, a Washington D.C.-based think tank focused on international relations, emphasized two major concerns overshadowing discussions at the United Nations General Assembly this week.
“Two dark clouds hung over the United Nations General Assembly this week in New York,” he explained in an opinion post published by the Atlantic Council on Saturday, elaborating:
The first was the growing peril of Chinese-Russian common cause. The second was uncertainty about whether US leadership will rise to the challenge after the November elections.
Kempe pointed out that the China-Russia partnership is not only sustaining the war in Ukraine but also empowering Iran and its proxies in the Middle East and escalating tensions in Asia. He argued that only strong and forward-thinking U.S. leadership, along with global partners, can counter these threats.
Condoleezza Rice, speaking at the Atlantic Council’s Global Future Forum, echoed these concerns. Kempe described:
She considered our emerging era to be more dangerous than the Cold War. That’s due to the gathering global threats running up against the perils of what she called ‘the four horsemen of the Apocalypse—populism, nativism, isolationism, and protectionism.’
Kempe also noted China’s deepening support for Russia’s defense industry, which continues to bolster Moscow’s war effort. Nicholas Burns, U.S. ambassador to China, opined: “We sanctioned over three hundred Chinese firms over the last several months. Unfortunately, we’ve not seen a change in Chinese behavior. And so they should expect that we’ll continue in this punitive effort to make our voice clear that we’re not going to stand by as China significantly helps Russia strengthen [not only] its armaments potential, but also its defense industrial base.”
What do you think about the China-Russia partnership and its impact on global security? Let us know in the comments section below. #Write2Earn

Sound Money Defense League Executive: Gold Protects Against Inflation, Fiat Risks

In a recent interview with Kitco News, Jp Cortez, the executive director of the Sound Money Defense League, discussed the growing sound money movement across the United States. Cortez emphasized the significance of legislative wins, such as the removal of sales taxes on precious metals in 45 states, and highlighted the increasing trend of de-dollarization.
Gold and Silver Seen as Hedge Against Inflation in Growing Sound Money Movement
During his interview with Jeremy Szafron, Anchor at Kitco News, Cortez outlined the importance of sound money principles, focusing on the role of gold and silver as a hedge against fiat currencies. He explained that precious metals offer protection against inflation, which has become a central issue as more states recognize the value of sound money.
“Gold and silver are money,” Cortez asserted, stating that sound money holds its value over time, unlike fiat currencies, which can be devalued by inflation and political decisions. The movement to remove taxes on precious metals has already led to 45 states eliminating sales tax on these assets.

At press time, an ounce of .999 fine gold is trading for $2,658 per unit and just recently on Sept. 27, 2024, gold reached a peak of $2,674. Year-to-date alone gold has spiked 28.87% higher against the U.S. dollar. Meanwhile, Cortez explained that New Jersey became the 45th state to eliminate sales taxes on gold and silver purchases.
Although Cortez expressed concern over a provision in the New Jersey law that still taxes transactions under $1,000, calling it “regressive” and harmful to smaller investors. “In many cases, these are people who are dollar cost averaging who are going to their local precious metals dealer and buying a couple of Eagles or a couple of silver rounds every paycheck,” Cortez said.
The Sound Money Defense League executive director added:
This tax harms them … it actively picks them out and says that no you cannot buy precious metals without being subject to penalty by the state.
The growing sound money movement reflects a broader de-dollarization trend, according to Cortez. With global economic instability and rising national debt, more states are beginning to recognize the need to safeguard their financial systems by investing in gold and silver. Cortez pointed to Utah’s decision to hold physical gold in state coffers as a major step forward in this effort. As more states move towards sound money policies, Cortez believes this trend will continue to reshape the U.S. financial landscape.
What do you think about Cortez’s opinions about the sound money movement and the rising gold prices? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Cryptoquant CEO Expects Crypto Market to Skyrocket With CZ's Return — 'Bullish Vibes Everywhere'

Cryptoquant’s chief executive has expressed optimism about the return of former Binance CEO Changpeng Zhao (CZ), believing it could lead to major market movements. “Bullish vibes everywhere,” he said, emphasizing that CZ “just needs to post ‘I’m back’ and the market will skyrocket.”
Cryptoquant Founder Expects CZ’s Return to Spark Market Surge
Ki Young Ju, CEO of blockchain analytics firm Cryptoquant shared his prediction of the crypto market in a post on social media platform X on Friday. The executive believes that Binance founder and former CEO Changpeng Zhao (CZ) returning from serving his prison sentence would create ripples in the crypto market. He wrote before Zhao was released from U.S. custody on Friday:
CZ is getting out early today — bullish vibes everywhere. Not sure why, but I’m feeling it too. He just needs to post ‘I’m back’ and the market will skyrocket.
In another X post, the Cryptoquant chief executive discussed Zhao’s influence within the cryptocurrency sector, underscoring that prominent individuals like CZ often become scapegoats when industries fall short of expectations. He remarked, “Society singles out the most influential figure as the guilty party,” while acknowledging that multiple factors contribute to industry struggles.
He further pointed out that although the cryptocurrency market has absorbed vast capital, its intrinsic value has not increased proportionately, attributing much of this disconnect to challenges such as crime and industry immaturity.
In closing, the Cryptoquant CEO encouraged the crypto community to recognize Zhao’s positive impact, which, in his view, overshadows any missteps. He commented, “Without Binance, the crypto industry would not have attracted the immense global liquidity it benefits from today,” suggesting that CZ’s contributions deserve reassessment. CZ was released from U.S. custody on Friday after serving a four-month sentence.
What do you think about Ki Young Ju’s perspective on CZ’s return and its potential impact on the market? Let us know in the comments section below. #Write2Earn

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Suze Orman Recommends BTC: 'Everybody Should Absolutely Have Exposure to Bitcoin'

Suze Orman, a well-known financial advisor, advocates for bitcoin exposure, despite contrasting views from other prominent investors like Dave Ramsey and Warren Buffett. She underscores the potential gains for those who can manage its volatility. “Everybody should absolutely have exposure to bitcoin,” she said.
Suze Orman Encourages Bitcoin Investment With Caution
Financial advisor Suze Orman has explained that she believes everyone should have exposure to bitcoin, despite the skepticism of other well-known investors. While figures like Dave Ramsey and Warren Buffett criticize the cryptocurrency, Orman highlighted its potential for those willing to handle its volatility and risk.
During her recent interview with CNBC Make It, Orman emphasized:
Everybody should absolutely have exposure to bitcoin
She believes bitcoin’s value will grow, driven by younger generations’ fascination with it, although she doesn’t see it as a currency or store of value.
Noting that millennials and Gen Z investors make up 70% of crypto ownership, she said:
This is an investment that you’re either going to lose it all, or you’re going to let it run until it’s worth $100,000 or $200,000.
However, Orman also warned of the risks and advised against investing more than 5% of one’s portfolio in bitcoin. She favors bitcoin exchange-traded funds (ETFs) over direct ownership of BTC due to security concerns. “I would never want to see an FTX happen again,” she stressed, noting that she appreciates the ease of managing an ETF alongside traditional investments like stocks and mutual funds.
What do you think about Suze Orman’s stance on bitcoin and her cautious approach to cryptocurrency investments? Let us know in the comments section below. #Write2Earn

FBI Seizes $6M in Crypto From Southeast Asian Scammers

U.S. authorities have seized over $6 million worth of cryptocurrency linked to a fraudulent investment scheme organized by Southeast Asian criminals. Targeting U.S. individuals, the criminals manipulated victims through fake cryptocurrency platforms. The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) recovered the funds using blockchain tracing.
DOJ Seizes $6 Million in Cryptocurrency Fraud Scheme
The U.S. Attorney’s Office in Washington announced on Thursday that U.S. authorities have “seized over $6 million worth of cryptocurrency from perpetrators overseas” involved in a fraudulent investment scheme. The fraud, which targeted U.S. individuals, was organized by criminals based in Southeast Asia. The Department of Justice (DOJ) worked with the Federal Bureau of Investigation (FBI) to recover the stolen funds using blockchain tracing.
According to the DOJ:
The perpetrators in Southeast Asia targeted one or more individuals in the United States and fraudulently obtained millions of dollars’ worth of cryptocurrency through a cryptocurrency confidence investment scheme.
The FBI traced the stolen funds and “was able to trace victim funds on the blockchain and located multiple cryptocurrency wallet addresses which still held victim funds totaling more than $6 million.” These schemes often involve building trust with victims before directing them to invest in fake cryptocurrency platforms. The platforms display false returns, encouraging further investments before victims are eventually locked out and lose access to their funds.
U.S. Attorney Graves warned:
In these scams, fraudsters trick U.S. citizens into believing they are transferring funds to cryptocurrency investment opportunities when, in fact, they are just unwittingly turning their money over to the fraudsters.
The DOJ said these scams led to over $2 billion in losses in 2022 alone, and the trend is worsening. The FBI is continuing to investigate, with assistance from international partners and Tether in recovering stolen funds. Several U.S. attorneys, including those from the National Cryptocurrency Enforcement Team, are prosecuting the case.
What do you think about the rise of cryptocurrency-related scams and the efforts of the DOJ and FBI in recovering stolen funds? Let us know in the comments section below. #Write2Earn

Putin: Russia Examining Digital Currencies for Independent Payments

Vladimir Putin highlighted that Russia is examining the use of national digital currencies to implement an independent and supranational alternative payment system. However, he also outlined the intricacies of building such a platform, given the level of integration of major trading partners with the current financial system.
Russian President Acknowledges Relevance of Digital Currencies for Alternative Payment Platforms
Vladimir Putin has recently acknowledged that the Russian Federation is currently examining using national digital currencies as key elements of a new alternative payment platform. In an expanded meeting of the Presidium of the State Council on the development of exports, Putin referred to the subject, explaining the relevance of these assets in this upcoming settlement network.
According to TASS, an official Russian news agency, Putin stated:
The whole world is currently working on the creation of a so-called supranational payment infrastructure. Many countries and regions of the world are working closely on this, with the possibility of using digital currencies of central banks and digital financial assets.
Putin added that such a system would work “smoothly and independently of third countries,” a characteristic Russia would seek in such a platform. Russia is facing disruptions in its bilateral trading relations with China, Turkey, and India, with many companies unable to settle imports from these nations.
Putin stressed that this objective was generalized, as more countries were also studying the use of these assets for the same reason. “This is a general trend. Everyone is thinking about it and coming up with various options,” he stressed.
However, he highlighted the difficulties linked to the organization of such a system, as many of Russia’s major trade partners are bound to the current financial system. Putin explained that this solution would not be instantaneous, as it would take time for partners to be onboarded to this new alternative payments paradigm.
However, Russia is already preparing to include digital assets as part of its payment arsenal, having approved regulations that allow for this kind of settlement and running a pilot to test the feasibility of this solution.
What do you think about Putin’s statements on a digital currency-based alternative payment system? Tell us in the comments section below. #Write2Earn

Binance Founder CZ Released From US Custody After Serving 4-Month Sentence

Binance founder and former CEO Changpeng Zhao (CZ) has been released from U.S. custody after serving a four-month sentence for his role in compliance failures at Binance. His sentence followed a plea deal that included a $50 million fine and stepping down as Binance’s CEO. Despite his prison sentence, Zhao remains incredibly wealthy, with plans to focus on his new venture, Giggle Academy.
CZ Free After Serving a 4-Month Sentence
Changpeng Zhao (CZ), the founder and ex-CEO of cryptocurrency exchange Binance, was released from a California correctional facility on Friday after completing his sentence related to compliance failures at Binance.
Zhao pleaded guilty in November last year to charges of neglecting to maintain an adequate anti-money laundering (AML) program, which allowed misuse of the platform by cybercriminals and terrorist groups. As a consequence, Binance faced substantial financial penalties, and Zhao consented to a $50 million fine in a plea deal.
The ex-Binance boss was sentenced to four months. He began serving his sentence in June at a low-security facility, followed by a stay in a halfway house in Long Beach, according to the Bureau of Prisons. Binance settled with authorities for $4.3 billion after being accused of violating anti-money laundering and sanctions regulations.
As part of his plea deal and settlement, Zhao resigned as CEO and is prohibited from holding any executive position at Binance. Nevertheless, Binance continues to play a significant role in the cryptocurrency industry. Bloomberg Wealth currently values Zhao’s net worth at approximately $30 billion.
Binance is now headed by Richard Teng. The company appointed its first board of directors in April but has yet to establish a permanent global headquarters. Zhao has shown interest in new initiatives, such as Giggle Academy, an online nonprofit education project, and has expressed a desire to mentor upcoming entrepreneurs.
What do you think about former Binance CEO Changpeng Zhao’s release from prison and his plans with Giggle Academy? Let us know in the comments section below. #Write2Earn

Cryptocurrency Purchases Soar in Brazil: $12.37 Billion Spent YTD

According to data from the Central Bank of Brazil, purchases of cryptocurrency made abroad have soared this year, surpassing the numbers registered in 2023. These purchases, considered imports, have reached $12.37 billion year-to-date, exceeding the total crypto purchases of 2023. This indicates that exchanges and trading platforms are preparing to accommodate a large demand for digital assets.
Brazil Registers Cryptocurrency Imports of $12.37 Billion by August 2024
The demand for cryptocurrency in Brazil has greatly increased, and platforms have also purchased more crypto to offer their users. The Central Bank of Brazil has recently released data that indicated that cryptocurrency purchases, considered imports by the government, have soared during 2024, reaching $12.37 billion from January to August.
This number has already beaten the imports registered during 2023, which reached $12.30. The figures dwarf the $7.42 billion registered for the same period in 2023, signaling an acceleration of customer demand for crypto in the country.
Valor Economico clarified that this report included both cryptocurrencies with an issuer, such as stablecoins, and without an issuer, such as bitcoin. Fernando Rocha, head of statistics at the central bank, explained that these numbers corresponded to the demand of trading companies and exchanges seeking to satisfy the demand of their customers.
He stated:
Apart from this part of the portfolio, which is generally just a transactional part, it is the customers who are demanding from the companies.
However, this has created a deficit of $11.54 billion in 2024, as cryptocurrencies purchased surpass those exported abroad. This imbalance is unlikely to be resolved anytime soon, as conditions for producing crypto in Brazil through mining are unfavorable as power tariffs are high compared to other countries in the region. In May, Livio Ribeiro, a partner at BRCG Consultoria, estimated that this deficit could reach a negative balance of $18 billion this year.
This cryptocurrency demand can be explained by the high popularity of the asset class in Brazil, with recent polls putting the country as one of the top 10 nations with the most cryptocurrency ownership.
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Crypto Platform CEO Arrested for Allegedly Paying Deputies in Extortion Scheme

Crypto platform Zort’s CEO has been arrested on multiple charges. Allegations against Iza include paying large sums to Los Angeles County deputies for illegal activities, such as unlawful searches, extortion schemes, and even a failed kidnapping attempt. “Iza boasted about paying ‘active duty’ law enforcement $280,000 per month,” according to the authorities.
Crypto Platform CEO Arrested for Extortion, Conspiracy, and Tax Evasion
The chief executive of cryptocurrency platform Zort, Adam Iza, was arrested on Monday, following federal allegations of extortion, conspiracy, and tax evasion, the Los Angeles Times reported. Prosecutors claim Iza paid Los Angeles County sheriff’s deputies to assist in carrying out unlawful searches and arrests, targeting individuals for financial gain. The charges, part of a broader federal investigation, include an extortion scheme and a kidnapping attempt linked to Iza’s cryptocurrency business.
According to the complaint, Iza allegedly compensated deputies as much as $280,000 per month to engage in illegal activities, including a 2021 kidnapping attempt involving a business associate known as “E.Z.” Iza purportedly planned to steal digital assets stored on the associate’s phone during the failed operation. Prosecutors revealed in the complaint:
Iza boasted about paying ‘active duty’ law enforcement $280,000 per month.
Additionally, Iza is accused of hiding millions of dollars through shell companies while spending lavishly on luxury cars, a Bel Air mansion, and leg-lengthening surgery.
Federal investigators allege that Iza used deputies to obtain illegal GPS tracking warrants, further enabling his extortion schemes. The case also includes accusations that Iza extorted an event planner over a party dispute, leading to an unlawful arrest and financial loss. As the FBI continues to investigate, several deputies have been relieved of duty for their involvement, and Iza faces multiple charges, with a court appearance set for Oct. 8. The investigation remains ongoing.
What do you think about the allegations against Adam Iza and the involvement of law enforcement in this scandal? Let us know in the comments section below. #Write2Earn