It's Wednesday and you know what that Means it's news it's always news I'm Your host Andrew and this is crypto Espresso your teeny tiny daily shot of Caffeinated crypto headlines dear Viewers Rejoice because I'm told we will Have YouTube comments from here on out So you can celebrate by leaving a Comment now I'm supposed to say that at The end business before pleasure first Up Arc invests Kathy Wood believes that Bitcoin's strength during the banking Crisis could attract institutional Investors she told Bloomberg it's quite Instructive how Bitcoin has moved away From Equity markets her firm says Institutional investors should aim to Allocate 2.5 percent to 6.5 of their Portfolio to bitcoin nothing nothing too Crazy wood added these are the sorts of Allocations they would have made to Emerging new categories of assets like Real estate in the 70s emerging markets And small caps in the 80s and 90s in Ark's Big Ideas 2023 report the base Case bitcoin price prediction was 682 000 by 2030. quite conservative in her Eyes meanwhile the bear case was more Than two hundred and fifty thousand Dollars and the bull case nearly 1.5 Million Joseph Biden's Administration Continues to take a dim view of Cryptocurrencies with a perspective that Runs from skeptical to negative to
Threatening in a new economic report for Congress the White House says crypto Assets to date do not appear to offer Investments with any fundamental value Nor do they act as an effective Alternative to Fiat money improve Financial inclusion or make payments More efficient instead their innovation Has been mostly about creating Artificial scarcity in order to support Crypto assets prices and many of them Have no fundamental value that's a Mouthful however despite the well Negativity the report did note that There has not yet been a systematic Crisis caused by crypto assets so let's Knock on the nearest wood we can find a Woman who worked as the head of Compliance for the one coin pyramid Scheme uh could I say that alleged uh Well yeah sure it's a pyramid scheme has Been arrested in New York and charged With conspiracy to commit wire fraud and Money laundering this comes after Irina Dil kinska was extradited from Bulgaria While some estimates suggest that one Coin victims lost 4 billion dollars Other estimates run as high as 15 Billion the scheme began in 2014 when The token was supposed to be bigger and Better than Bitcoin but the token was Never tradable outside of its own closed Ecosystem and it was distributed using Multi-level marketing tactics in which
Members earned commissions by recruiting Others to buy packages of onecoin all Right yeah that's pyramid scheme she Will now face Justice for her alleged Crimes U.S attorney Damian Williams said A Bitcoin ATM manufacturer says that More than 1.5 million dollars has been Stolen from hot wallets after a Devastating breach General bites says The incident which happened on March 17th and 18th was the most challenging Time for us and some of our clients According to the company it's cloud Service and other Standalone servers Suffered security breaches after an Attacker uncovered a serious Vulnerability they were able to upload a Malicious application that gave them the Ability to read and decrypt API Keys Unlocking access to funds in hot wallets And exchanges the attacker had the power To download usernames and password Hashes as well as turn off two-factor Authentication General bites says it Took 15 hours to release a patch but by That point at least 56 Bitcoin had been Stolen a crypto firm has appeared before The Supreme Court for the very first Time but coinbase's case actually has Very little to do with crypto it's about The ability of companies to force Customers to adhere to arbitration Agreements instead of heading to court Broadly businesses say arbitration is
Faster and cheaper than Court battles While consumer Advocates says that it Gives businesses a big Advantage if Coinbase loses all sorts of companies Could be forced into court battles that Are not only longer and more expensive But they can come with embarrassing Publicity and bigger Awards reports Suggest that coinbase got the worst of The hearing with many judges appearing To come down on the opposite side and Finally Celsius custody account holders Now have a hard offer to get some of Their funds back from the bankrupt Crypto lender while the vast majority of Celsius clients held earn accounts Paying about 20 interest custody account Hold we're simply using Celsius to air Quotes here safely store their assets With no interest Judge Martin Glenn of The federal bankruptcy court in the Southern district of New York signed off On a settlement plan that allows custody Account holders to receive a total of 72.5 percent of their Holdings the Payout will come in two parts half in 30 Days and half with the bankruptcy plans Resolution or by the end of year Meanwhile new figures suggest that Lawyers and advisors working on the Bankruptcy case have built a monstrous 144 million dollars so far and speaking Of monstrous here's a big ol scary Engagement Spiel for you like this video
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Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.