‘Dr. Doom’ economist Nouriel Roubini slams crypto as a massive fraud – and blasts Kim Kardashian for promoting coins

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Nouriel Roubini.AP Images Nouriel Roubini slammed cryptocurrencies as a massive scam, with some coins worth less than zero. The "Dr. Doom" economist called out celebrities for promoting coins after Kim Kardashian's deal with the SEC. Kardashian agreed to pay $1.3 million this week to settle charges of illegal coin promotion. Nouriel Roubini has torn into cryptocurrencies as an epic scam, declared the most speculative ones are worth less than nothing, and called out Kim Kardashian for promoting coins."Crypto is the biggest scam ever in financial history!" he tweeted on Monday, highlighting a Financial Times report that Celsius Networks' founder, Alex…

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Kim Kardashian ran afoul of a 1930s securities law in her Instagram post touting the EMAX crypto token, SEC Chair Gary Gensler says

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"Part of that law said that if you tout a stock, you need to disclose not only that you're getting paid but also the amount," said SEC chief Gary Gensler.Instagram; Jamie McCarthy/Getty Images Kim Kardashian violated a 1930s securities law in promoting crypto on her Instagram, the head of the SEC said.  The SEC said Kardashian had violated Section 17(b) of the Securities Act of 1933.  "Part of that law said that if you tout a stock, you need to disclose not only that you're getting paid but also the amount," said Gensler.  Securities and Exchange Commissioner Chair Gary Gensler…

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Kim Kardashian Must Pay $1.26 Million for Illegally Promoting Cryptocurrency Tokens

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Kardashian case highlights foggy rules surrounding crypto promotion. The Securities Exchange Commission (SEC) has ordered Kim Kardashian to pay $1.26 million for promoting the cryptocurrency EMAX without disclosing that she was paid to do so. Federal securities law requires anyone paid to promote a crypto asset to "disclose the nature, source, and amount of compensation they received in exchange for the promotion," said SEC enforcement director Gurbir S. Grewal in a press release. Kardashian was charged with violating the anti-touting provision of the Securities Act of 1933, which prohibits giving "publicity to…any…advertisement…or communication which…describes [a] security for a consideration received…

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Miles Guo – Fiat Hyperinflation Will Fuel Rise of Cryptos

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9/25/2022 Miles Guo: The devaluation of the fiat currencies of various countries will accelerate the development of digital currencies around the world. Although the US dollar is the only one that remains strong, it is not good for itself, and the world economy will be worse off in the future. The abolition of the treatment of Communist China as a developing country means the beginning of the world’s decoupling from the CCP. Europe will eventually decouple from the CCP, even though it will take some time to do so. The next 6 months will be the critical period for Europe…

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Billionaire investor John Paulson warns US house prices could tumble – and touts gold as an inflation hedge

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John Paulson.Spencer Platt/Getty John Paulson said house prices could drop, but a decline wouldn't spark another financial crisis. Paulson, who shorted the mid-2000s housing bubble, said there's much less risk in the system today. The investor criticized some of his fellow short sellers, and touted gold as an inflation hedge. John Paulson, who called the implosion of the mid-2000s housing bubble, warned US home prices could slump again, but ruled out the decline sparking another financial crisis."We're not at risk of a collapse today in the financial system like we were before," he told Bloomberg in a recent interview. "Housing…

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JPMorgan CEO Jamie Dimon slammed crypto as dangerous – and called bitcoin a Ponzi scheme

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Jamie Dimon.Kimberly White/Getty Images Jamie Dimon slammed bitcoin and some other crypto as "decentralized Ponzi schemes." The JPMorgan CEO said they enable theft, money laundering, and other crimes. However, Dimon touted blockchain and said he would welcome a properly regulated stablecoin. Jamie Dimon has doubled down on his disdain for bitcoin and some other cryptocurrencies, arguing they serve no purpose beyond vacuuming up new buyers' money to pay out profits to their existing holders."I'm a major skeptic of crypto tokens, which you call currency, like bitcoin," the JPMorgan CEO told the House Financial Services Committee on Wednesday."They are decentralized Ponzi…

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Colorado Becomes First State To Accept Bitcoin As Payment For Taxes

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Colorado Becomes First State To Accept Bitcoin As Payment For Taxes Authored by 'NAMCIOS' via BitcoinMagazine.com, Colorado residents can now pay state taxes with bitcoin and cryptocurrency... but only with a PayPal account... Colorado has become the first U.S. state to accept bitcoin for tax payments. Gov. Jared Polis announced the implementation of the new payment method on Monday, at Denver Startup Week, according to a report by Axios Denver. Citizens can use cryptocurrency to pay individual income tax, business income tax, sales and use tax, withholding tax, severance tax and excise fuel tax are eligible, per the report. The state…

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The crypto bear market will continue if bitcoin confirms its recent breakdown below $20,000, Fairlead’s Katie Stockton says

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Bitcoin price graphicGetty ImagesThe crypto bear market is likely to continue if bitcoin confirms its recent breakdown below $20,000, according to Fairlead Strategies.The technical analysis-based research firm said secondary support for bitcoin stands at $13,900."Short-term momentum has shifted negative per a new daily MACD 'sell' signal," Fairlead said.The crypto bear market is likely to continue as long as bitcoin confirms its recent breakdown below $20,000, according to a Tuesday note from Fairlead Strategies.The technical analysis-focused research firm highlighted that bitcoin is currently testing a support range of between $18,300 and $19,500 following last week's CPI-induced sell-off. Bitcoin was down about…

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Mike Novogratz says Powell should stay hawkish with his inflation messaging to markets – and the famed crypto bull sees the Fed ‘handcuffed’ to upcoming CPI reports

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Galaxy Digital CEO Mike Novogratz.Lucas Jackson/Reuters Fed Chair Jerome Powell should stress the central bank's hawkish stance against inflation, Mike Novogratz said.   The Fed will be "handcuffed" to future inflation reports after August's hot CPI report, he said.  He sees long-term investment in stocks and crypto currently dependent on short-term economic data.  Federal Reserve Chair Jerome Powell should emphasize the central bank's hawkish stance against inflation at its meeting this week as consumer prices at multi-year highs appear sticky, billionaire investor Mike Novogratz said on CNBC. "[Powell] threw us all off track a little bit two meetings ago when he said,…

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Sam Bankman-Fried’s Alameda will repay $200 million in crypto to bankrupt lender Voyager – after the crash hit dollar values

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FTX Cryptocurrency exchange CEO Gabe Bankman-Fried at a hearing on Capitol Hill on May 12, 2022.Tom Williams/CQ-Roll Call via Getty Images Sam Bankman-Fried's Alameda plans to give crypto worth $200 million to Voyager to pay off a loan.  The loan was worth $377 million before the crypto slump, which helped push lender Voyager into bankruptcy. Alameda agreed to make the payment in bitcoin, ether and seven smaller cryptos by the end of September.  Sam Bankman-Fried's Alameda Research will pay cryptocurrency worth about $200 million to bankrupt lender Voyager Digital to cover an outstanding loan, according to a court filing Monday.The…

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