According to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has initiated legal action against three individuals and five companies for allegedly running 'pig butchering' scams. These scams involve fraudsters befriending victims through text-based social media apps, gaining their trust, and convincing them to invest large sums in fictitious crypto platforms before stealing their funds and disappearing. The two lawsuits filed on Tuesday mark the SEC’s first enforcement actions against this type of crypto scam. This move comes just a day before the U.S. House Financial Services Committee is scheduled to hold a hearing on pig butchering scams. Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, emphasized the increasing threat of such scams to retail investors, noting that fraudsters create fake crypto ecosystems displaying false information to deceive investors. One lawsuit targets the purported crypto trading platform NanoBit. The SEC alleges that three U.S. residents—Jiajie Liu, Fei Liao, and Hua Zhao—engaged in a coordinated scheme to defraud at least 18 investors of nearly $1 million in crypto assets and fiat currency. The accused allegedly posed as finance industry professionals in WhatsApp groups, enticing investors to put their money into NanoBit’s platform. Despite showing apparent profits, investors found themselves unable to withdraw their funds, and the fraudsters vanished. The second lawsuit involves another fake crypto trading platform, CoinW6. The SEC claims that unnamed participants defrauded at least 11 investors out of $2.2 million between July 2022 and December 2023. Unlike the NanoBit scheme, CoinW6 fraudsters allegedly posed as 'young, attractive professionals' who developed romantic relationships with victims over text before introducing the idea of investing in CoinW6. The scammers pressured victims to invest more money, sometimes even suggesting they withdraw from retirement accounts or borrow from friends and family. A recent FBI report highlighted the severity of crypto fraud, revealing that investors lost a record-high $5.6 billion to such scams last year, with $4 billion lost to investment scams, including pig butchering scams.

OKX market data shows that BTC fell below 60,000 USDT and is now trading at 59,987 USDT, with the 24-hour increase narrowed to 3.42%.

OpenAI o1 is impressive because of its ability to "think." But it’s not for everybody—and probably not for you, at least not yet. source: https://decrypt.co/249735/openais-o1-review-good-bad-ugly-ai-latest-brainchild

Bitcoin price shows strength ahead of a key Federal Reserve monetary policy decision on Sept. 18, but data suggests the momentum may not last. source: https://cointelegraph.com/news/bitcoin-rallies-to-61k-but-derivatives-traders-are-still-skeptical-here-is-why?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

How to mint your onchain history into onchain relics with the Ethverse by Pob Studio. source: https://www.bankless.com/minting-base-onchain-art

In a recent interview with Matt Miller on Bloomberg TV, Frank Speiser, CEO of Metafide, shared his insights into former President Donald Trump’s surprising entry into the cryptocurrency space, the evolution of the crypto industry, and Bitcoin’s role as a long-term asset. Speiser began by discussing Trump’s recently announced DeFi project — World Liberty Financial […] source: https://www.cryptoglobe.com/latest/2024/09/metafide-ceo-on-trumps-new-defi-project-the-evolution-of-the-crypto-industry-and-bitcoins-role-in-the-financial-system/

Despite some investors growing disillusioned with the extended stagnation, others remain hopeful. Some have introduced intriguing theories proposing extraordinarily high valuations for XRP. source: https://zycrypto.com/analyst-projects-ripples-xrp-true-fair-market-value-could-reach-38999/

The Bridged USDC Standard support offers greater ease for developers and security for users. source: https://dailycoin.com/sonys-ethereum-l2-gets-bridged-usdc-standard-support-heres-what-it-means/?utm_source=cryptopanic&utm_medium=rss

FTX's former auditor Prager Metis reached a settlement agreement with the SEC over failures in its review of the collapsed crypto exchange. source: https://decrypt.co/249921/ftx-auditor-prager-metis-settles-sec-charges-negligence

The U.S. Securities and Exchange Commission (SEC) has charged five entities and three individuals tied to fraudulent crypto schemes involving NanoBit and CoinW6, both fake crypto trading platforms. The scammers solicited investments through social media apps, tricking victims into handing over a lot of money that were then stolen. Gurbir S. Grewal, Director of the […] source: https://www.cryptopolitan.com/sec-charges-8-linked-to-nanobit-and-coinw6/

Bubbles will burst, but products that truly solve user needs will change the world and make history.

Amazon bids their remote work policy goodbye, as employees are expected to return to office five days a week starting from the beginning of 2025.

Do you want to make and trade meme coins for the rest of your life, or do you want to build infrastructure and change the crypto world?

In recent times, the market has repeatedly fluctuated between expectations of interest rate cuts, recession, and general elections. This essentially corresponds to the three factors of capital, fundamentals, and regulation, which are intertwined and influence each other.

Disney+ Hotstar's new AI tool reduces data use by 25% for offline video downloads and increases watch time per gigabyte by 12.5% while maintaining video quality. The technology optimises data based on scene complexity and user habits, promising more efficient streaming.

SC Ventures has invested in One Trading, boosting its role as Europe's first regulated platform for crypto perpetual futures. This investment, alongside increased stakes from existing investors, will support One Trading's launch of innovative crypto products under MiFID II regulations.

China's megacity and economic center, Shanghai, shuts down after being hit by one of the strongest storms since 1949.

Faced with the liquidity fragmentation problem in the current Rollup ecosystem, Based Rollup is widely regarded as an effective potential solution, and pre-confirmation plays a vital role in improving the Based Rollup user experience.

In 2024, the focus will be on AI and Web3. In the world of artificial intelligence, data is like the life source of its growth and evolution.

AI researchers are advocating for a robust contingency plan to address the risk of losing control over AI systems. This measure seeks to prepare for scenarios where AI could act unpredictably, emphasizing the need for strong safeguards and strategies to manage potential risks.