Crypto News Today – June 12th, 2024

Welcome to today’s edition of “Crypto News Today,” where we bring you the latest highlights from the cryptocurrency world. 

AI is Accelerating Crypto Fraud and Scams

The rapid advancement of AI technology is facilitating increased crypto website fraud and influencer scams. Sophisticated AI algorithms are being used to create fake websites and personas, making it harder for investors to distinguish between legitimate and fraudulent actors in the crypto space. Read all about it on the TDR Website!

Bitcoin Pullback to $66K Triggers $250M in Liquidations
Bitcoin’s recent pullback to $66,000 has resulted in $250 million worth of crypto liquidations. Traders are bracing for significant market volatility ahead of the Federal Open Market Committee (FOMC) and Consumer Price Index (CPI) reports, which are expected to influence the crypto market further. This crypto news was reported on CoinDesk.

Ripple Expands in Asia with New Blockchain Fund
Ripple is making a strategic push for dominance in the Asian market with the launch of a new blockchain fund. This initiative aims to support innovative blockchain projects and enhance Ripple’s presence in the rapidly growing Asian crypto ecosystem.

US Government Seizes $200K in Tether from Crypto Scam
To combat crypto fraud, the US government seized $200,000 in Tether, which was linked to a “pig butchering” crypto scam. This type of scam involves long-term manipulation of victims to extract significant amounts of cryptocurrency.

Solana-based Memecoin Launched Successfully, BRETT Hits $1B Market Cap
A new Solana-based memecoin has launched with significant fanfare, while another memecoin, BRETT, has achieved a remarkable milestone by reaching a $1 billion market cap. This surge in interest highlights the ongoing popularity and speculative nature of meme coins in the crypto market.

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