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It’s minting millionaires while potentially harming others — yet everyone, even the losers, seem to be in on the joke. Some believe memecoins are permitted because the Securities and Exchange Commission has never formally categorized bitcoin as a security. And, crucially, many memecoins, including Fartcoin, do not appear able to be legally purchased from U.S. soil on most of the crypto exchanges offering them. In fact, Trump world has already shown signs of accelerating its embrace of cryptocurrencies. Yet there is clearly a dark side to the memecoin world.

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☆ Memecoins like Fartcoin are riding Trump's victory to huge valuations. Experts say it may have only begun
▼ + stars: | 2024-12-15 | by ( Rob Wile | ) www.cnbc.com time to read: +7 min

It's minting millionaires while potentially harming others — yet everyone, even the losers, seem to be in on the joke. For the most part, the greatest risk in trading memecoins, which tend to be based on the lifespan of viral internet memes, is the meme itself fading away from the cultural zeitgeist. Some believe memecoins are permitted because the Securities and Exchange Commission has never formally categorized bitcoin as a security. In fact, Trump world has already shown signs of accelerating its embrace of cryptocurrencies. Yet there is clearly a dark side to the memecoin world.

Persons: Elon, X, it's, Guess jeanswear, Donald Trump, Toe Bautista, Bautista, Haliey Welch, Welch, CoinTelegraph, nonsavvy, Trump, Gracy Chen, Omid Malekan, Malekan Organizations: GSR, NBC News, Wall, Securities and Exchange Commission, United, Authority, Federal Reserve, Trump, cryptocurrencies, Bloomberg, Liberty, Columbia Business School, Columbia University Locations: bitcoin, New York, Tennessee, U.S, England

☆ Bitcoin halving isn't a big deal for long-term investors, but may have a 'huge' impact on one key group, says Columbia professor
▼ + stars: | 2024-04-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Bitcoin's "halving" is expected to happen soon. But its potential impact depends on your relationship to the coin; it's likely to affect miners and investors differently. "To the people who own bitcoin because they think it's a good store of value, this halving is not that big of a deal. Miners receive bitcoins, known as block rewards, for verifying and validating transactions and helping keep the blockchain network secure. What the bitcoin halving may mean for investorsWhile the halving itself doesn't directly impact bitcoin's price, investors' anticipation of the event can lead to highly erratic price movements, says Douglas Boneparth, a certified financial planner and president of Bone Fide Wealth.

Persons: Douglas Boneparth, Boneparth, Malekan Organizations: Columbia Business School, Architecting, Money, CNBC, Bone, Miners

☆ Coinbase is the latest target of the SEC’s crypto crackdown—how U.S. investors may be affected
▼ + stars: | 2023-06-12 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +6 min

On June 13, the U.S. Securities and Exchange Commission sued Coinbase, the second-largest crypto exchange by volume, according to CoinMarketCap.com. The federal regulator alleges Coinbase operated its crypto asset trading platform as an unregistered national securities exchange and broker, per the June 13 press release. The SEC also alleges at least 13 crypto assets that Coinbase made available to customers, including Solana and Cardano's tokens, qualify as "crypto asset securities," according to the complaint. This comes just one day after the SEC sued Binance, the world's largest crypto exchange, and its billionaire founder, Changpeng Zhao. Trading crypto on an exchange versus peer-to-peer

Persons: Coinbase, Coinbase's, Brian Armstrong, Paul Grewal, we'll, Binance, Changpeng Zhao, Zhao, Gary Gensler, Chen Arad, they've, Arad, Omid, Malekan, wasn't, Bitcoin, There's, bitcoin Organizations: The U.S, U.S . Securities, Exchange Commission, SEC, CNBC, Twitter, Solidus Labs, NBC, Columbia Business School, Architecting, Money, U.S, Commodity, Futures, Metrics Locations: Paris, France, The, Solana, U.S, Arad

☆ Crypto markets in turmoil over FTX bankruptcy
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +9 min

Nov 11 (Reuters) - Crypto exchange FTX filed for U.S. bankruptcy on Friday and Sam Bankman-Fried stepped down as CEO, after a liquidity crisis that has prompted intervention from regulators around the world. FTX, its affiliated crypto trading fund Alameda Research and about 130 other companies have commenced voluntary Chapter 11 bankruptcy proceedings in Delaware, FTX said. MARKET REACTION:Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry. "The shock was that this guy was the face of the crypto industry and it turned out that the emperor had no clothes. Ultimately, the lesson here is that the crypto industry needs to stop trusting cults of personality, no matter how well-intentioned they might seem."

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