The controversy Kim Kardashian, Floyd Mayweather, basketball player Paul Pierce are all under fire for using their platforms to promote the EthereumMax (EMAX) token. As stated in the class action complaint “This case arises from a scheme among various individuals in the cryptocurrency sector to misleadingly promote and sell the digital asset associated with EthereumMax (the EMAX Tokens) to unsuspecting investors.” The case essentially states that the defendants used their own influence as celebrities to artificially inflate the price of the token. From there, investors bought EMAX tokens at an inflated price. After this, supposedly the defendants involved then went and sold off their shares of the token, made a…
-
-
Weekly Bitcoin Review
Bitcoin briefly dips below $40,000
Bill Miller allocates 50% of portfolio towards Bitcoin In his WealthTrack interview last Friday, Bill Miller shared his thoughts on Bitcoin. At the end of the interview, the long time value investor states that Bitcoin provides a “service of insurance against financial catastrophe that no one else can provide.” He then stated that he has allocated 50% of his investment portfolio into Bitcoin and other Bitcoin related assets, like MicroStrategy. He claims to now be a Bitcoin bull instead of just an observer. Even with the current fear in the market over Bitcoin, he is still bullish in the long-term. Store of wealth Many who buy Bitcoin view it as…
-
Cryptocurrency Market Sees Drops Across the Board
Federal Reserve’s December meeting and Kazakhstan protests cause major dips in the market for the first week of 2022
Leading cryptocurrencies fall over 10% Over the last seven days Ethereum (ETH) has fallen 13.3%, Binance Coin (BNB) 12.4%, and Bitcoin (BTC) by 10%. Both BTC and ETH hit three months lows, and still have yet to recover. Few coins have seen gains in the last week, Chainlink (LINK) and Cosmos (ATOM) being exceptions. The market cap of the whole crypto market has been in decline since the middle of November. The market saw a major dip in early December, and then continued the slow decline. Now in early January the market has once again seen a significant drop. Even with the market dipping in December, it still seemed bullish.…
-
NFTs are Overhyped
Why the vast majority of NFT projects are a complete waste of money
What is an NFT and why do they matter? NFT is a term that has been appearing all over social media and the news in the last few months. An NFT is a Non-fungible token, stored on a blockchain, which is essentially a digital ledger. NFTs function similarly to a cryptocurrency like Ethereum or Bitcoin. The major difference between interchangeable tokens like Ethereum and an NFT is that each NFT is uniquely different, hence the word non-fungible. An NFT can be a digital picture, song, file, and much more. Ownership of an NFT does not confer copyright or the ability to use legal action. Instead, it is more of a…
