Cops vs Crypto
With any innovation, there are both intended and unintended uses. With crypto becoming more mainstream, it’s appeal to criminals becomes more mainstream as well. This begs the question; How do the authorities ACTUALLY liquidate seized digital currencies? Ben and Kevin explore some of the stats behind UK and US crypto seizures, give their opinions on Elon Musk’s offer to buy Twitter, as well as seeing what’s happening this week in the “Weird World of Crypto”.
Crypto Seizures: UK & US statistics and process
How do authorities seize crypto whenever things start to go awry? How much crypto was seized last year? And what’s the difference between the US and UK system? At the start of todays show, we answer all of these questions and more!
Elon Musk Offers to Buy Twitter
It was only a couple of weeks prior that Elon Musk bought a 9.2% stake in Twitter and was offered to sit on the board of directors, but Mr Musk declined, making a lot of people wonder what his true intentions really were. Now, he’s offered to buy 100% of the company outright, saying he is the right person to “unlock” the social media platform’s “extraordinary potential”.
LGB Coin Lawsuit, Alleged “pump-and-dump” Scheme
Last year, the crypto coin LGB entered the market, with the acronym standing for “Lets Go Brandon”. This term is primarily used by Republican supporters in the US as a tongue-and-cheek way of showing there distaste towards President Joe Biden. Now, the LGB coin has gotten itself into some deep water with the company who made the coin being served a class action lawsuit that alleges its creators and several others have misleadingly promoted the cryptocurrency asset in order to artificially inflate its value before selling their portions for personal gain.
Weird World of Crypto: Zuck Bucks
Meta—the parent company that owns Facebook, WhatsApp and Instagram—is exploring a new digital currency according to a recent report by the Financial Times. The plans come just three years after Meta CEO Mark Zuckerburg tried to launch a cryptocurrency named ‘Libra’, later renamed to ‘Diem’, which subsequently shut down following opposition from policy-makers.
What we cover in this episode:
Crypto seizures; statistics and process
Elon Musk’s offer to buy Twitter
LGB coin gets served lawsuit alleging pump-and-dump scheme
Meta planning new digital currency
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