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Money

Shocking crypto scam costing investors hundreds of thousands

Published

2 years ago

on

A warning has been issued to people looking to make fast cash through crypto as the rising cost of living continues to stretch budgets

Authorities are wanting crypto investors to be on the lookout, with a growing number of investment scam complaints being received by Federal authorities.

The services says many of the complaints involve dodgy cryptocurrency services.

How it works

The scams involve unsuspecting investors being persuaded to buy crypto through an intermediary and then sending money to what they believe is a genuine investment platform.

But it’s too good to be true.

The “genuine” platforms are being run by fraudsters, and they’re stealing hundreds of thousands of dollars from unsuspecting investors.

Rising cost of scams

The ombudsman warns about examples of customers being scammed out of tens or even hundreds of thousands of dollars in the UK alone.

We are concerned that, in current economic circumstances, people could be tempted to invest in fake investments,” says Nausicaa Delfas, interim chief executive and chief ombudsman at the FOS.

“Our advice to consumers is be wary, conduct their own research, check the FCA register and contact the firm directly on the number listed.”

“If people feel they have been treated unfairly by their bank, they should contact the Financial Ombudsman Service, and we will see whether we can help.”

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U.S. Federal Reserve announce rate cut, show great confidence in economy

Published

8 hours ago

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September 19, 2024

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The Federal Reserve has delivered a big rate cut to boost the economy while inflation slows.

The central bank slashed interest rates by a half percentage point, hoping to protect the job market while inflation inches closer to its 2% goal.

Fed Chair Jerome Powell says the decision reflects growing confidence in balancing the economy’s growth with low inflation. #featured #trending

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Money

Markets brace for potential 50-point fed rate cut

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2 days ago

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September 17, 2024

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Markets are anticipating a significant 50-point rate cut from the US Federal Reserve this week, leading to heightened focus on bond markets and key economic reports.

Financial markets are focused on a potential 50-point rate cut by the US Federal Reserve, as investors anticipate major shifts in economic policy.

The bond markets, already pricing in a borderline hard landing, reflect the expectation of a significant easing cycle over the next two years.

However, experts caution that the Fed could disappoint, as the current economic conditions differ from previous events such as the pandemic or credit crises. #featured #trending

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Money

Bitcoin’s Q4 outlook: key factors and upcoming milestones

Published

3 days ago

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September 16, 2024

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Insights into market trends and critical events shaping Bitcoin’s performance

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, Caroline speaks with Matt Willemsen, Head of Research & Content at Collective Shift, about what could drive Bitcoin’s strong performance in Q4. They explore how the current market differs from past cycles, the ongoing Solana vs. Ethereum debate, and the role of project-specific conferences in market trends. Matt previews key Q4 events, including the Solana Breakpoint conference and upcoming altcoin milestones like Uniswap v4 and Polygon 2.0. #crypto corner

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