Cryptocurrency

Investing in Bitcoin: Expert Advice

Thursday. December 26 at 6:00 PM

1 min. read

Bitcoin (BTCUSD) has experienced significant growth this year, surpassing $100,000, with projections of further increases in the coming year. Despite this, financial advisors urge caution when considering investing in cryptocurrency, recommending only a small portion of one's portfolio be allocated to it. The Federal Reserve's indication of fewer rate cuts next year caused a temporary dip in bitcoin prices, but they have still more than doubled in value. Asset manager Blackrock suggests a 1%-2% bitcoin exposure in a portfolio, emphasizing the need for a limited allocation due to bitcoin's volatility. Experts like Malcolm Ethridge and David Rosenstrock advise on the potential risks and rewards of investing in bitcoin, highlighting the importance of understanding one's investment motives. Options for investing in bitcoin include direct purchases, ETFs, or shares in bitcoin-related companies, each with its own considerations. New investors are encouraged to explore ETFs as a beginner-friendly option, while experienced investors like Douglas Boneparth prefer direct ownership of bitcoin for greater control and security.

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Rising Crypto Scams in France Prompt Crackdown by Authorities

Friday. December 27 at 8:00 AM

The surge of cryptocurrency in France has led to an increase in financial scams, prompting authorities to take action to protect consumers. The Paris Public Prosecutor’s Office, along with regulatory bodies like the AMF and ACPR, are alarmed by the rise in fraudulent schemes involving fake crypto investments. Reports show that victims of false savings accounts lost an average of €69,000, while false loans resulted in average losses of €19,000. Crypto-asset scams have also seen a significant rise, with victims losing an average of €29,000. A survey revealed that 3.2% of French adults fell victim to financial scams in 2024, nearly tripling from 1.2% in 2021. Young men under 35 are the most targeted group, lured by promises of quick profits. Authorities are taking steps to prevent such scams, including public awareness campaigns and blacklisting unauthorized entities. Consumers are advised to exercise caution and conduct thorough research before investing in cryptocurrencies.

Cryptocurrency

Political Donations and Pardons: The Case of Sam Bankman-Fried

Friday. December 27 at 3:00 AM

BeInCrypto previously highlighted concerns surrounding Sam Bankman-Fried potentially receiving an early release through a presidential pardon. Influential figures like Elon Musk have hinted at this possibility. Bankman-Fried, the former FTX founder, donated $5.2 million to pro-Biden super PACs in 2020, making him a significant Democratic donor. There is a historical trend of political donors receiving favorable treatment in terms of convictions and pardons. Given this, there is speculation about President Biden considering clemency for Bankman-Fried. Despite facing serious charges related to wire fraud and money laundering, his sentencing was viewed as lenient considering the magnitude of his crimes. Critics argue that his associates seek clemency in exchange for stolen campaign contributions. While the connection between donations and pardons is not always straightforward, past cases raise concerns about the influence of wealth in legal outcomes.

Cryptocurrency

South Korea Imposes Sanctions on North Korean Cyber Criminals

Thursday. December 26 at 8:00 PM

South Korea has imposed sanctions on 15 North Korean individuals and one organization for their involvement in cryptocurrency and cyber theft activities to fund North Korea's nuclear program. The Ministry of Foreign Affairs announced these sanctions on December 26, targeting operatives engaged in obtaining foreign currency for the North Korean Munitions Industry Department and nuclear missile programs. Notably, the Lazarus Group, among other North Korean hackers, has been implicated in major cyber thefts in the Web3 space. Governments are intensifying efforts to combat these hackers, projected to target over 50% of global virtual currencies for theft by 2024. The sanctions aim to disrupt money laundering and financing of North Korea's nuclear program. North Korean hackers were responsible for a significant portion of the $2.3 billion stolen in cryptocurrencies in 2024, indicating a rise in sophisticated cyber attacks. The global community faces escalating cyber threats from North Korean hackers, prompting increased vigilance and collaborative actions to safeguard against future cybercrimes.

Cryptocurrency