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Dogecoin goes to the moon

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Dogecoin goes to the moon

SpaceX says they’ll send Dogecoin to the moon in the first quarter of next year

Elon Musk says SpaceX will accept the meme-inspired cryptocurrency Dogecoin as payment.

Geo-metric Energy Corporation announced “DOGE-1 Mission to the Moon” over the weekend.

However, the company is yet to disclose the mission’s financial value.

Dogecoin plummets after Musk’s SNL gig

This comes after falling Dogecoin prices following Musk’s recent SNL appearance.

The plummet came soon after Musk mentioned the meme crypto, with stocks dropping by nearly 30% to $0.5 from around $0.7.

The price then rebounded from its low to around $0.57 after SNL finished.

Dogefather Musk

During his appearance, the SpaceX CEO said Dogecoin would “take over the world,” calling himself the “Dogefather.”

This comes after prices soared amid anticipation of Musk’s much-anticipated cameo during the past week.

Musk also used his SNL gig to open up about having ‘Asperger’s’.

“I’m actually making history tonight as the first person with Asperger’s [syndrome] to host SNL. Or at least the first to admit it,” he said.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

Business

FTX’s Bankman-Fried hires top defence lawyer

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FTX founder and former chief executive Sam Bankman-Fried has hired former prosecutor Mark S. Cohen to represent him, as U.S. authorities probe the crypto exchange’s collapse.

Regulators around the globe, including in the Bahamas where FTX is based and in the United States, are investigating the role of FTX’s top executives including Bankman-Fried in the firm’s stunning collapse, Reuters has previously reported. The crypto exchange filed for bankruptcy last month after a liquidity crisis that saw at least $1 billion of customer funds vanish.

Bankman-Fried has retained Cohen, of Cohen & Gresser, Bankman-Fried’s spokesperson Mark Botnick said in an emailed statement. Cohen could not be reached for comment.

Prosecutors and regulators have not charged Bankman-Fried with wrongdoing. He is facing civil lawsuits from investors and FTX customers.

David Mills, a professor at Stanford Law School, is consulting on the matter, Botnick said. Mills did not respond to requests for comment. Semafor previously reported Mills’ advisory work for Bankman-Fried.

Cohen, a former assistant United States attorney for the Eastern District of New York, recently defended Ghislaine Maxwell in her sex trafficking trial.

Bankman-Fried had previously hired Martin Flumenbaum of law firm Paul, Weiss, Rifkind, Wharton & Garrison, but the law firm said last month it was no longer representing him due to conflicts.

In recent weeks, U.S. authorities have sought information from investors and potential investors in FTX, according to two sources with knowledge of the requests. Federal prosecutors in New York are asking for details on any communications such firms have had with the crypto firm and its executives, including Bankman-Fried, the sources said. Bloomberg previously reported the information requests.

The Securities and Exchange Commission has been asking for similar information from investors as well, one of the sources said.

Those sources and attorneys, speaking on condition of anonymity, have said that U.S. authorities are likely looking for any evidence of material misrepresentations of information to investors.

Spokespeople for the Manhattan U.S. attorney’s office and the SEC declined to comment on the information request.

FTX secretly transferred customer funds to its affiliate Alameda Research to fill a shortfall at the crypto trading firm, Reuters has previously reported.

Speaking via video link at the New York Times’ Dealbook Summit with Andrew Ross Sorkin on Wednesday, Bankman-Fried said he did not knowingly commingle customer funds on FTX with funds at his proprietary trading firm, Alameda Research.

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Most crypto likely to be regulated as securities

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Most cryptocurrency tokens will likely be regulated as securities under existing securities laws in the fallout of the collapse of crypto exchange FTX.

That’s according to Jeff Sprecher, chief executive officer of NYSE-owner Intercontinental Exchange Inc.

“I think you’re going to see essentially tokens become securities – I mean they probably already are, but they’re going to be regulated and dealt like securities,” Sprecher said at a financial services conference hosted by Goldman Sachs Group Inc.

Britain’s Treasury is finalising plans for a package to regulate the cryptocurrency industry, including limits on foreign companies selling into the country and restrictions on advertising, the Financial Times reported on Monday.

The package will give the Financial Conduct Authority broader powers to regulate the sector, including monitoring how firms operate and advertise their products, sources familiar with the matter told FT.

There would also be restrictions on companies selling into the British market from overseas, as well as plans for how crypto firms can be wound down, the people added.

These new regulations come on the heels of the market turmoil following the collapse of cryptocurrency exchange FTX, which filed for U.S. bankruptcy court protection last month.

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Crypto

Australian woman looking for love loses thousands in crypto scam

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Australian woman

Australian woman looking for love on Hinge loses $160,000 in crypto scam

Crypto scams are on the rise right around the world as thieves develop clever new ways to steal your hard earned cash.

Now, it seems they’ve even taken to dating apps.

An Australian woman, going by the pseudonym Cheryl, has shared her heartbreak after a match on Hinge scammed her out of $160,000.

Speaking to News.com.au, the 30-year-old says she was looking for love but wasn’t having any luck on Bumble or Tinder.

This is when she turned to Hinge and soon stumbled on a user called Jackson.

Jackson was chatty, friendly and the pair even shared intimate photos with each other.

After several weeks and hundreds of messages, the individual convinced Cheryl to invest in a cryptocurrency share platform, known as Blackstone Trading.

She started with a $1000 investment and, as her profits continued to grow, she invested more and more.

But the account was later frozen due to so-called “suspicious activity”. Cheryl was told she would need to deposit 50 per cent of her balance – which was around $50,000 – to unlock it.

Cheryl did this, but it didn’t work. The company asked for another 20 per cent, before Cheryl caught on and realised it was all a scam.

“I ended up blocking him on WhatsApp, I deleted him from my Hinge account, I’ll never use Hinge ever again.”

Unfortunately crypto scams like this are becoming more and more common.

Dating platform Hinge has responded to this incident, saying they take fraud “very seriously”. Meanwhile, they are “continuing to invest in new updates and technologies to keep users safe”.

“We encourage users to verify their accounts and match with others that have verified their profiles.”

But it’s too late for Cheryl. Her money is gone and so too is Jackson.

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