Crypto Twitter: A dangerous source for financial advice?

November 4, 2024 Coin Telegraph

In its latest video, Cointelegraph explains the hidden dangers of seeking financial advice on X and highlights how influencer manipulation has cost investors millions in the crypto market.

In the latest Cointelegraph video, we dive into the hidden dangers of seeking financial advice on X, formerly known as Twitter. While the platform serves as the heart of the crypto community, it also hosts rampant market manipulation and scams.

Through interviews with top crypto influencers and industry experts, the video examines how some high-profile accounts use their reach to influence prices in “pump-and-dump” schemes.

These influencers hype certain tokens, driving up prices to sell at a peak, often leaving regular investors holding near-worthless assets.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Hacker behind fake Bitcoin ETF X post pleads not guilty

October 25, 2024 Coin Telegraph

bitcoin etf

Reports from the courtroom suggested that prosecutors would offer a deal for Eric Council Jr., who allegedly helped compromise the SEC’s X account.

Eric Council Jr., the individual charged over his involvement for allegedly hacking the United States Securities and Exchange Commission’s X account and posting a message suggesting that Bitcoin exchange-traded funds (ETFs) had been approved, has pleaded not guilty in a DC courtroom.

In an Oct. 25 arraignment before Judge Amy Berman Jackson in the US District Court for the District of Columbia, Council Jr. entered a plea of not guilty for one charge of conspiracy to commit aggravated identity theft and access device fraud. He was allegedly part of a group that hacked the SEC’s X account in January, publishing a post that claimed the commission had officially approved spot Bitcoin (BTC) ETFs for the first time.

The fake SEC X post — since removed — announcing the approval of spot Bitcoin ETFs. Source: US SEC/X

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

AI memecoin millionaire Truth Terminal has sparked an AI boom in crypto

October 23, 2024 Coin Telegraph

Emerging developments in AI could provide the breakthrough that has been missing for cryptocurrencies.

It’s no secret that since 2022, nearly every industry has been exploring how to integrate artificial intelligence into their daily operations — and crypto is no exception.

But unlike most sectors, which are concerned with how AI may benefit them, crypto asks the reverse question: How can AI leverage blockchain to unlock new potential?

One of the most exciting intersections between artificial intelligence and crypto is the rise of autonomous AI agents. These agents are now using cryptocurrencies to enhance their capabilities, and they’re rapidly gaining momentum.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

X to be restored in Brazil in 24 hours, rules Justice Alexandre de Moraes

October 8, 2024 Coin Telegraph

Brazil

The ruling came after the social media platform settled a roughly $5.5 million fine in the South American country.

Social media platform X will return to operation in Brazil within 24 hours, according to an Oct. 8 ruling by Justice Alexandre de Moraes.

The platform was blocked on Aug. 30 for failing to comply with Brazilian court orders related to an investigation into the spread of misinformation in the country.

“I hereby order the end of the suspension and authorize the immediate resumption of activities by X Brasil Internet Ltda. within the national territory. I also instruct Anatel (National Telecommunications Agency) to take the necessary steps to implement this measure, with a report to this Supreme Court within 24 (twenty-four) hours,” the Justice wrote in his translated ruling.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Elon Musk’s X ban dispute with Brazil takes toll on local crypto community

September 30, 2024 Coin Telegraph

Brazil

Brazil’s ban on X sparks a battle over free speech between Elon Musk and the legal authorities, leaving Brazilians and the local crypto community caught in the crossfire.

Brazil’s ban on social media site X has hit the Brazilian crypto community hard, as many in the blockchain industry — from researchers to influencers, fundraisers, conference organizers and accelerators — use the site as a critical means of communication and promotion.

On Aug. 30, almost 22 million users were cut off from X in Brazil, when Brazilian Supreme Court Justice Alexandre de Moraes found X to be allowing and promoting misinformation related to former Brazilian President Jair Bolsonaro.

The ban has caused Elon Musk’s social media company to lose one of its biggest markets.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Brazil’s X ban: Are VPN users at risk for accessing the platform?

September 4, 2024 Coin Telegraph

Brazilians

VPN providers agree that tracking individuals accessing X via VPNs in Brazil would be challenging but not impossible.

A Brazilian Supreme Court panel on Sept. 2 decided to uphold a ban on X, restricting Brazilians from accessing the social media platform.

Some prominent figures — including Bluesky co-founder Jack Dorsey — promoted the use of virtual private networks (VPN), while others cautioned Brazilians against any type of X usage.

Cointelegraph contacted several lawyers and VPN providers to better understand the situation regarding the X ban in Brazil.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Brazil Supreme Court upholds judge’s decision to suspend Elon Musk’s X

September 2, 2024 Coin Telegraph

Brazil

The Tesla CEO has used his platform on X to hint that Brazilian residents should defy the judge’s order using VPNs despite the risk of fines.

A Brazilian Supreme Court panel has upheld a decision from one of its justices to suspend operations of social media platform X in the country.

In a unanimous decision on Sept. 2, a panel of five Supreme Court justices upheld Justice Alexandre de Moraes’ Aug. 30 ruling suspending X in Brazil. Moraes’ decision followed X owner Elon Musk’s refusal to name a legal representative for the firm’s operations in Brazil.

In the months before Moraes’ decision, Musk heavily criticized the Supreme Court judge on X, claiming he was “evil” and a “dictator” for his alleged “illegal political censorship” of the social media platform. It’s unclear how the X owner may respond to the court ruling now that four other justices agreed with Moraes’ ruling.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Elon Musk’s Twitter buyout is going so poorly that banks had to issue pay cuts

August 22, 2024 Coin Telegraph

Banks

The “hung” loans have led to bankers calling it the worst buyout since 2008.

There have been thousands of corporate buyouts in the 14 years since the 2008 banking crisis. And, according to the banks holding the loans, none of them have been worse than Elon Musk’s takeover of Twitter.

A report from the Wall Street Journal indicates that approximately $13 billion in loans used in the purchase of Twitter (now X) are stuck on banks’ balance sheets.

The typical practice for this type of debt financing is for banks to sell that debt to other investors. Since X is a private company, this practice allows investors who weren’t involved in the initial financing phase to become stakeholders.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Ava Labs COO’s X account suspected as hacked after posting memecoin

August 19, 2024 Coin Telegraph

Avalanche

The X account of Ava Labs’ operating chief, Luigi D’Onorio DeMeo, has been touting memecoins and other suspicious links, prompting many to warn it's likely a phishing scam.

Ava Labs’ chief operating officer, Luigi D’Onorio DeMeo’s X account, is suspected of being hacked after posting about a newly launched Pokémon-themed memecoin and links to suspicious airdrops.

Two of the posts on Aug. 19, which have now been deleted, shared the address to a Solana-based memecoin called Pika (PIKA) — styled after one of the media franchise’s central characters, Pikachu — in an apparent pump-and-dump scheme.

Many crypto users on X have posted warnings not to click or follow any links.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Musk claims X hit by ‘massive DDoS attack’ delaying Trump interview

August 13, 2024 Coin Telegraph

attack

Many X users have complained they have been unable to join the livestream of Elon Musk’s scheduled interview with Donald Trump on the platform.

X owner Elon Musk claims the social media platform “appears to” have been hit with a Distributed Denial-of-Service (DDoS) attack as his slated interview with presidential hopeful Donald Trump was set to kick off.

“There appears to be a massive DDoS attack on X. Working on shutting it down," Musk posted to X on Aug. 12.

It comes as technical issues plagued the X Space Musk and Trump were scheduled to hold at 8:00 PM Eastern US time as multiple X users complained they were unable to join. Those who have joined have only heard waiting music — neither Musk nor Trump have spoken.

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