• Kaspersky survey shows that 1 in 3 crypto owners in the US have experienced crypto theft and lost an average of $97,583.
• Only 34% of crypto owners use multi-factor authentication and only 15% use offline or cold wallets.
• Security researchers suggest users employ extra security measures to protect themselves from scams, phishing attacks, and cryptojacking.

Crypto Theft on the Rise

A new survey report by cybersecurity firm Kaspersky has revealed that about a third of cryptocurrency owners have lost their assets to scammers and hackers. The statistic is from a survey conducted in October 2022 involving 2,000 American adults. On average, crypto owners have lost $97,583.

Security Measures for Crypto Owners

Security researchers at Kaspersky suggest individuals can do a lot to protect their wallets from malicious actors. They advise using multi-factor authentication as well as employing offline or cold storage solutions for increased safety. Additionally, they suggest users check up on their investments regularly; the survey found that the average timespan between checks was six weeks.

High Risk of Crypto Losses

There is still a high risk of losses due to hacks and fraudulent platforms despite efforts made by industry players to increase security measures within the sector. As such, this could continue given a 10-year trend of increasing cyberattacks across the industry targeting cryptocurrencies.

Lack of Awareness on Crypto Security

The Kaspersky survey also revealed that only 34% of respondents said they used multi-factor authentication while 27% stored their assets on centralised crypto exchanges without any extra security measures employed. This suggests there is lack of awareness amongst users when it comes to protecting themselves against fraudsters and other cybercriminals targeting digital currencies.

Conclusion

Cryptocurrency owners should exercise caution when trading or investing in digital currencies since there are risks associated with holding digital assets online due to rising incidences of cybercrime activities targeting them. Implementing additional security measures such as two-factor authentication and cold storage solutions can help reduce chances of becoming victims of scams or hacks thus protecting user funds more effectively safe from malicious actors online.

• Bitcoin recently surged beyond $26,000 as interest rate expectations flip in response to the collapse of Silicon Valley Bank and Silvergate.
• The US government stepped in to shore up the crisis and guarantee deposits would be made whole.
• However, there are reasons to be cautious about this sudden rally, such as the shutdown of three crypto banks and bearish developments since the start of the year.

Surge in Bitcoin Prices

Bitcoin recently surged beyond $26,000 as interest rate expectations flip in response to the collapse of Silicon Valley Bank (SVB) and Silvergate. The US government stepped in to shore up the crisis and guarantee deposits would be made whole, giving investors more confidence that a return to lower interest rates could spur crypto prices higher.

Reasons for Caution

However, there are reasons to be cautious about this sudden rally. The shutdown of three crypto banks will hurt industry, while there has been nothing but bearish developments since the start of the year. The decoupling from other risk assets is also unusual and has not been seen to the upside since 2021.

Inflation Reading

Additionally, inflation readings provide further impetus for investors dreaming of a return to lower interest environment with surging crypto prices. With such creaking evident, markets have moved to betting that the Fed is more or less done with its current round of rate hikes for now.

Predictions?

Our analyst Dan Ashmore does not make predictions because what would be the point? He knows better than to fool himself into thinking he knows enough to predict markets – but even he was surprised by how quickly bitcoin rallied this time around.

Conclusion

Investors should remain cautious when it comes to investing in cryptocurrencies right now given all these bearish developments occurring over recent weeks and months – despite some short-term positives from falling interest rates expectations. It remains unclear which way Bitcoin will move next so watch this space carefully!

• Crypto and stocks reacted negatively to comments by Federal Reserve Chair Jerome Powell on inflation.
• Bitcoin dropped to a 24-hour low of $22,120 while the S&P 500 fell 1%.
• Investors are likely to turn their attention to the next Fed meeting in March.

Crypto Turns Red After Fed Chair Jerome Powell Hints at Higher Rates

Cryptocurrencies and stocks reacted negatively after Federal Reserve Chair Jerome Powell hinted that interest rates could go up in response to recent economic data that came in hotter than expected. Bitcoin touched 24-hour lows of $22,120 while the S&P 500 dropped 1%.

Reaction to Powell’s Comments

Powell made his first of two appearances before US Congress on Tuesday, speaking at the Senate Banking Committee about monetary policy and inflation. He noted that if outlook indicated there was a need for faster tightening, then it would be warranted for the Fed to consider raising interest rates further.

Impact on Cryptocurrency and Stocks

Investors appeared spooked by Powell’s remarks, leading crypto, stocks and bonds to react lower as the dollar index rose. Bitcoin dropped towards support around $22,100 on broader market reaction while the S&P 500 fell by 1%, the Dow Jones Industrial Average shed 0.6% and the Nasdaq Composite 0.9%.

Economist Reaction

Economist Mohamed El-Erian commented on the market’s reaction and what Powell’s testimony projected, noting that it tilted more towards a hawkish stance compared to earlier dovish mentions of disinflation at prior press conferences.

Next Steps

Investors are now likely to turn their attention to the next Fed meeting in March as they watch developments closely.

• DeFi users have increased by 31% quarter on quarter in 2022, despite the 525% spike seen in 2021.
• Total estimated number of DeFi users is expected to surpass 5.5 million in Q4, 2022.
• Projects have used the crypto winter to build and improve their products, attracting more users.

Overview of DeFi Growth

DeFi or decentralized finance continues to attract more users with strong products and services across segments such as decentralised exchanges (DEXs), lending protocols, staking and yield platforms. Despite a year-long crypto winter, user numbers grew by 31% quarter on quarter in 2022 compared with the 525% spike seen in 2021. The current estimates for total DeFi wallets suggest that it will surpass 5.5 million in Q4 2022.

User Numbers Skyrocketed

In 2021, user numbers skyrocketed 545%, thanks to cryptocurrencies booming during a staggering bull run. However, market prices show that most assets in the space have plummeted in value and the DeFi index has shrunk by 76%, compared with a 65% decline for Ethereum. Despite this downturn, projects have used the crypto winter to build and improve their products which has attracted more users across segments like DEXs and CDPs (collateralized debt positions).

Total Value Locked Shrank

The total value locked (TVL) shrank significantly below $40 billion as per DefiLlama reports but this was not enough to tell the whole story of decentralised finance’s performance over the past one year. Overall, wallets surpassed 5 million mark during Q3 2022 while it is estimated that this number will exceed 5.5 million marks by end of Q4 2022 with an 8% growth projection during that period as well.

DeFi Eating Into Traditional Finance

The trend reflects what analysts at HashKey Capital call a “blue ocean market” where innovative services are capturing demand which is adding to user growth steadily for decentralized finance sector. This suggests that Decentralized Finance is not only eating into traditional finance or TradFI market but also creating its own new market too which means that there is still potential for further growth within it even after such turbulent times for cryptos overall .

Conclusion

Overall it can be said that even though there has been significant shrinkage of TVL and other metrics related to DeFi sector over past year , projects have managed to use this time constructively causing further increase in user numbers . These figures along with blue ocean markets indicate potential for continued future development of decentralized finance sectors .

• Bitgert’s native token, BRISE, has dropped to $0.00000047 as the platform’s popularity wanes.
• Google Trends data shows that the volume of searches for Bitgert is at its lowest point since December.
• DeFi Llama data shows that the total value locked (TVL) in Bitgert’s ecosystem has dropped to 4.17 trillion BRISE, which is its lowest level on record.

Bitgert Price Plunges as Popularity Wanes

Bitgert price has remained under intense pressure as the platform’s popularity wanes. BRISE, its native token, has plunged to a low of $0.00000047, the lowest point since February 17. It has plunged by more than 27% from its highest point in February even as Bitcoin is hovering near the key resistance point this year.

Decline in Popularity

All indications are that Bitgert is losing its popularity around the world. One way of knowing this is to check the volume of Google searchs of the coin. This is important because Google is the most popular search engine in the world. In most periods, a popular cryptocurrency or any other asset will tend to have more searches. Google Trends data shows that the volume of the term Bitgert has crash to the lowest point since December. The same is true for other related keywords like Bitgert price and Bitgert crypto. Another way to look at this is to consider the activity in the network’s DeFi ecosystem. Data published by DeFi Llama shows that the total value locked (TVL) in Bitgert’s ecosystem has dropped to 4.17 trillion BRISE, which is its lowest level on record. In dollar terms, the TVL stands at about $1.96 million

• Recent news headlines are discussing the possibility of a cryptocurrency “class war”, with some investment opportunities becoming more accessible to people with greater disposable income.
• Metacade is a metaverse gaming platform that seeks to bring together classic arcade games, play-to-earn titles, and exciting new blockchain projects.
• The platform offers an array of earning features including Create2Earn, Compete2Earn, and Work2Earn.

Crypto Class War

Recent news headlines have been filled with claims that cryptocurrency investments are stoking a class war, as some opportunities become more accessible for those with higher disposable incomes. This was further exacerbated by the recent FTX collapse which wiped out billions in assets, disproportionately affecting regular Joe investors. Despite this downturn in the market, some crypto coins such as SOL are beginning to show signs of improvement.

Metacade

Metacade is a brand-new player in the world of metaverse gaming with plans to combine classic arcade games and new Web3 blockchain projects into one hub targeted towards like-minded gaming enthusiasts who want to build the largest metaverse gaming community possible. The platform also offers its users an array of earning features designed to incentivize content creation within their community.

Create2Earn

The Create2Earn program is designed to reward users for their activity on the hub such as sharing alpha content or participating in live chat sessions and game reviews. Members can also stake MCADE tokens if they wish to enter online tournaments or prize draws via Compete2Earn scheme from Q1 2024 onwards. Finally, users will be able to apply for gig jobs through Work2Earn scheme starting from Q1 2024 too.

Why Invest?

Investing in Metacade tokens not only provides access to all this great content but also grants token holders voting rights on proposed changes within the platform so that they can ensure their voice is heard when it comes to decisions about its future direction. Furthermore, holders benefit from increased liquidity options due to Metacade’s integration with multiple leading exchanges including Binance DEX and Uniswap V3 liquidity mining pools..

Conclusion

• Charlie Munger, Vice Chairman of Berkshire Hathaway, has urged the U.S. government to push ahead with an absolute ban on cryptocurrencies as he believes they have no real value.
• He praised China for recently announcing a strict ban on crypto-related services and quoted the example of England in the early 1700s banning all public trading in new common stocks for about a century.
• His business partner Warren Buffet shares his view on cryptocurrencies as well.

Charlie Munger Wants US to Ban Cryptocurrencies

Charlie Munger, Vice Chairman of Berkshire Hathaway, has expressed his view that the United States should push ahead with an absolute ban on cryptocurrencies due to their lack of real value. He praised China for recently announcing a strict ban on crypto-related services and pointed to England’s example in the early 1700s when it banned all public trading in new common stocks for about a century as precedence. His business partner Warren Buffet shares his view on cryptocurrencies as well.

Munger’s View On Cryptocurrencies

Munger has long been against cryptocurrencies and associates no real value to them since they are intangible and unproductive. In a recent op-ed in the Wall Street Journal, he said: Crypto is not a currency, commodity, or security. It’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity.“ Nonetheless, despite this sentiment, Bitcoin is currently up nearly 40% since the start of 2023 despite Munger’s opinion on its worthlessness as an asset class.

China Sets Example For US

Munger lauded China for executing its full ban on cryptocurrencies and urged the US government to learn from its example. He argued that „In some cases, a big block of cryptocurrency has been sold to a promotor for almost nothing, after which the public buys in at much higher prices without fully understanding the predilution in favour of the promoter.“

Warren Buffett Shares Same View

It is noteworthy that his business partner Warren Buffett shares his viewpoint regarding cryptocurrencies; both men agree that these assets have no real value and should be avoided altogether if possible due to their lack of inherent worthiness associated with them compared to other assets such as stocks or commodities.

Conclusion

In conclusion, Charlie Munger strongly believes that cryptocurrency assets have no real value and should be avoided at all costs due to their lack of inherent worthiness compared with other more tangible assets such as stocks or commodities; he also cited China’s recent example of banning crypto-related services along with England’s similar stance taken back centuries ago as examples why this approach should be adopted by US governments now too if possible

• Floki Inu DAO has passed the proposal to burn 4.97 trillion FLOKI tokens.
• The price of FLOKI token has surged 8% due to the news.
• The proposal seeks to disable the original cross-chain bridge and burn the tokens in the bridge.

The Floki Inu DAO has passed a proposal to burn over $100M worth of FLOKI tokens. On January 27, the proposal was opened for voting and quickly gained traction among the participants of the Floki Inu DAO. The proposal sought to remove the FLOKI transaction tax and burn the bridge tokens. After a two day voting process, the proposal was passed with 99.97% of the participants voting in favour of the proposal.

The passing of the proposal has caused the price of FLOKI token to surge by 8% and hit a daily high of $0.00002973. According to the information provided by Floki Inu, the proposal determined the future of two things for the Floki Inu community which are the original Floki cross-chain bridge and the 3% tax on the FLOKI token. The proposal seeks to have the original cross-chain bridge disabled and the tokens in the bridge burned since the bridge posed some vulnerability threats.

Floki Inu narrowly dodged a bullet last year when the cross-chain bridge was briefly exploited forcing the team to quickly disable the bridge to prevent further damage. The burning of the tokens will leave the Floki Inu DAO with a total of 4.97 trillion FLOKI tokens. It will also make the network more secure and efficient.

The Floki Inu DAO is a decentralized autonomous organization (DAO) that is responsible for the governance of the Floki Inu project. The DAO is composed of holders of the FLOKI token who can vote on different proposals that are put forward by the team. The burning of the tokens is the first major event for the DAO and it is expected to have a lasting impact on the price and the network of the FLOKI token.

The burning of the tokens is a positive sign for the Floki Inu project as it shows that the team is serious about the project and is willing to take the necessary steps to ensure its success. The passing of the proposal is likely to attract more investors to the project and push the price of the FLOKI token even higher.

• Dan Ashmore, a cryptocurrency analyst at Coinjournal, told CNBC that the audit reports by cryptocurrency exchanges were not entirely accurate.
• He stated that the reports only indicated the assets held by the exchanges and didn’t reveal the liabilities of the companies.
• Ashmore added that third-party entities need to look at these centralised exchanges and make financial assessments.

Recently, Coinjournal’s Dan Ashmore spoke with CNBC to discuss the audit reports released by cryptocurrency exchanges. Ashmore expressed his frustration with the reports, stating that they were anything but an audit. He pointed out that while the reports included the assets held by the exchanges, they failed to provide any information on the liabilities of the companies.

The analyst further explained that a proper audit requires the consideration of both liabilities and assets. Unfortunately, the proof of reserve reports published by exchanges such as Binance and OKX failed to provide any information on the liabilities. Ashmore added that this lack of information was a major issue, as it leaves investors in the dark about the financial health of the exchanges.

In addition, Ashmore noted that the recent move by accounting firm Mazars Group to suspend all work with its crypto clients was a concerning one. He stated that exchanges need to take the necessary steps to ensure that their audit reports are comprehensive and accurate. In order to do this, third-party entities need to be involved and given the opportunity to assess the financial standing of the exchanges.

Overall, Ashmore’s comments highlighted the importance of accurate and comprehensive audit reports. Investors need to be able to trust that the exchanges they are investing with are being transparent and honest about their financial standing. As such, it is essential that exchanges take all the necessary steps to ensure that their audit reports are accurate and up to date.

• Crypto scams are the use of fraudulent methods to use cryptocurrencies for personal gain.
• It is important to understand the potential threats of crypto fraud and take steps to protect yourself.
• The increased public interest in the crypto market has led to an increase in crypto fraud cases.

Cryptocurrency has been one of the biggest trends of the past decade. Not only has it revolutionized the way we think of money and transactions, but it has also opened up a whole new world of possibilities. Everyone from tech-savvy investors to everyday people are making the jump to the world of crypto. Unfortunately, the crypto landscape is not always a safe one. Crypto scams are on the rise, and it is important to be aware of the potential threats and take steps to protect yourself.

Crypto scams are conducted through the use of fraudulent methods to gain access to or use cryptocurrencies for personal gain. They can come in many forms, such as phishing schemes, fraudulent apps, and fake trading bots. Scammers take advantage of the lack of understanding many people have about cryptocurrencies, as well as the volatile nature of the market. As the public interest in crypto increases, so does the number of crypto fraud cases.

It is important to be aware of potential crypto scams and take steps to protect yourself. Do your research before investing in any crypto project, and make sure you understand the risks. Always be wary of any offers that seem too good to be true, and don’t give out any personal information or passwords to anyone. Additionally, it is important to keep your crypto wallet and private keys secure.

At the end of the day, the best way to protect yourself from the flood of crypto frauds is to stay informed and vigilant. Do your research and make sure you understand the risks before investing, and always be wary of any offers that seem too good to be true. By taking the time to educate yourself and be aware of potential scams, you can ensure that you are taking the right steps to protect your investments.