FBI Reports $5.6B Losses to Crypto Fraud; El Salvador’s Bitcoin Revolution

Simply Crypto

In this episode, we discuss the alarming $5.6 billion lost to cryptocurrency fraud in 2023, as reported by the FBI, highlighting the need for public awareness. We also explore El Salvador's innovative approach to mainstreaming Bitcoin, including digital displays of its price and ambitious projects like 'Bitcoin City.' Additionally, we analyze the current state of the crypto market ahead of a key speech from Fed Chair Jerome Powell, and examine Russia's recent legalization of cryptocurrency mining to bypass Western sanctions.
Sources:
https://ibsintelligence.com/ibsi-news/americans-lost-5-6b-to-cryptocurrency-fraud-in-2023-reveals-fbi/
https://www.benzinga.com/markets/cryptocurrency/24/09/41084132/nayib-bukeles-el-salvador-is-mainstreaming-bitcoin-by-putting-the-price-where-everyone-can
https://www.benzinga.com/markets/cryptocurrency/24/09/41083834/bitcoin-ethereum-flat-dogecoin-falls-ahead-of-fed-chair-jerome-powells-speech-price-target
https://www.eurasiareview.com/29092024-russia-legalizes-cryptocurrency-mining-to-circumvent-western-sanctions-analysis/
Outline:
(00:00:00) Introduction
(00:00:43) Americans lost $5.6b to cryptocurrency fraud in 2023, reveals FBI
(00:03:41) Nayib Bukele's El Salvador Is Mainstreaming Bitcoin By Putting The Price Where Everyone Can See It: 'Over The Next Year They'll All Watch…'
(00:06:18) Bitcoin, Ethereum Flat, Dogecoin Falls Ahead Of Fed Chair Jerome Powell's Speech: Price Target For King Crypto Could Be $194K-$352K, Says Top Analyst - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
(00:09:20) Russia Legalizes Cryptocurrency Mining To Circumvent Western Sanctions