Bitcoin’s divergence from the US Dollar and NASDAQ signals a renewed role as a safe-haven asset amid global market shifts. Long-term holders increasing Bitcoin positions while short-term holders sell suggests
Big news is shaking up the Southeast Asian cryptocurrency scene! A major global player, KuCoin, is officially making its grand entrance into the Thai market. This isn’t just a simple launch; it’s a significant move that leverages existing infrastructure and regulatory approval, promising exciting developments for the Thailand crypto market . What Exactly Happened with KuCoin Thailand ? The official entry came to light on April 22nd when ERX Company, a cryptocurrency exchange already operating under the watchful eye of Thailand’s Securities and Exchange Commission (SEC), underwent a strategic rebranding. From that day forward, ERX is now known as KuCoin Thailand . This move was reported by Cointelegraph and signifies a direct, compliant path for KuCoin to offer its services within the country. Think of it like this: instead of building from scratch and navigating the complex regulatory landscape independently, KuCoin acquired or partnered with an already licensed entity. This fast-tracks their ability to operate legally and provides a layer of trust right from the start, given ERX’s prior status as a regulated crypto exchange Thailand . Why is KuCoin Expansion into Thailand a Big Deal? KuCoin is one of the world’s largest cryptocurrency exchanges by trading volume and user base. Their presence in a regulated market like Thailand offers several potential benefits: Increased Accessibility: Thai users gain access to a wider range of digital assets and trading pairs that might not have been available on local platforms. Enhanced Liquidity: Bringing a global exchange’s user base and volume can potentially improve liquidity for various trading pairs within Thailand. Advanced Features: KuCoin is known for offering various trading products beyond spot trading, which could become available to Thai users under the new entity. Global Standards: Users may benefit from the security measures and operational standards of a large international exchange. This KuCoin expansion isn’t just about adding another platform; it’s about integrating a global giant into the local ecosystem, potentially raising the bar for services and offerings available to Thai investors and traders. How Does Crypto Regulation Thailand Play a Role? Thailand has a relatively mature framework for crypto regulation Thailand compared to many other countries in Southeast Asia. The Securities and Exchange Commission (SEC) is the primary regulator for digital assets. For a platform to operate legally as a digital asset exchange, it must obtain a license from the Ministry of Finance based on the SEC’s recommendations. The fact that ERX was already a regulated entity is key. By rebranding ERX as KuCoin Thailand , KuCoin is essentially stepping into an already approved structure. This means that the platform operating as KuCoin Thailand is expected to adhere to the strict rules and guidelines set forth by the Thai SEC, including: Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. Capital requirements. Security standards for safeguarding user assets. Rules regarding listing and delisting of tokens. Investor protection measures. For users, this regulatory compliance is crucial. It provides a level of assurance and legal recourse that might be absent when using unregulated or offshore platforms. It signals that KuCoin Thailand intends to operate legitimately and safely within the country’s legal framework. What Challenges Might KuCoin Thailand Face? While the regulatory approval provides a solid foundation, operating in the Thailand crypto market isn’t without its challenges: Competition: The Thai market already has established local exchanges with loyal user bases. KuCoin Thailand will need to compete effectively on fees, services, and user experience. Localization: Adapting the platform, customer service, and marketing strategies to the local language and culture is essential for mass adoption. Evolving Regulations: The digital asset regulatory landscape is constantly evolving globally and within Thailand. KuCoin Thailand must remain agile and compliant with any future changes. User Education: Despite growing adoption, continuous education about crypto trading risks and platform usage is necessary for user safety and confidence. Successfully navigating these challenges will be key to KuCoin Thailand’s long-term success and market penetration. Actionable Insights for the Thailand Crypto Market For anyone interested in the Thai crypto space, KuCoin’s entry is noteworthy. If you are a current crypto user in Thailand, you now have another regulated option to consider, potentially offering different assets or features than your current platform. It’s always wise to compare exchanges based on fees, available assets, security features, and user reviews before making a choice. For KuCoin’s global users, this expansion highlights the exchange’s strategy to enter regulated markets, potentially signaling similar moves in other regions in the future. It reinforces KuCoin’s commitment to operating within legal frameworks where possible. This development also underscores the growing importance of Southeast Asia in the global crypto landscape and the increasing willingness of international players to engage with regulated markets like Thailand. Conclusion: A New Era for Crypto Exchange Thailand ? The rebranding of ERX to KuCoin Thailand marks a significant milestone for both KuCoin and the Thai digital asset market. By entering through a regulated entity, KuCoin demonstrates a commitment to compliance and aims to provide Thai users with access to a global-standard crypto exchange Thailand platform. While challenges remain, the potential benefits of increased competition, liquidity, and access to advanced features are promising for the future of the Thailand crypto market . This strategic KuCoin expansion is poised to reshape the competitive landscape and potentially accelerate crypto adoption within the country, all while operating under the crucial oversight of Crypto Regulation Thailand . To learn more about the latest crypto market trends, explore our article on key developments shaping crypto exchange and regulation globally.
The post Crypto News: KuCoin Thailand Officially Launches as SEC-Approved Crypto Exchange appeared first on Coinpedia Fintech News KuCoin has officially launched its local crypto exchange in Thailand, now known as KuCoin Thailand, in partnership with ERX Company Limited. Fully licensed by Thailand’s Securities and Exchange Commission (SEC), this new platform combines KuCoin’s global trading experience with local operations. The launch, effective April 22, marks a major step in KuCoin’s Southeast Asia expansion, offering secure and regulated digital token and cryptocurrency services to Thai users. “Our goal is to build a leading digital asset platform in Thailand with global vision, institutional-grade service and state-of-the-art technology,” said Henry Chen, Board Director at ERX. Solutions Tailored To Thai Market The operator continues to be called ERX, which recently acquired a license from the SEC. KuCoin is one of the top five crypto exchanges globally. ERX’s Chief Executive Att Tongyai Asavanund said that the goal is to bring powerful global tech and resources to offer solutions tailored to the Thai market. All the existing users have been migrated to the new platform, which can be accessed at www.kucoin.th or via the KuCoin TH app on mobile stores. ERX, now KuCoin Thailand now has a financial base with 351 million baht in paid-up capital. It’s almost entirely owned by Cryptosphere Ventures, a company set up in September 2024 with 1 million baht in initial capital. KuCoin Thailand becomes the ninth crypto exchange to be licensed by the SEC, joining big names like Bitkub, Upbit, and Gulf Binance. Bitkub dominates Thailand’s crypto space with a trading volume of around $70 million. KuCoin Eyes Rapid Expansions Previously, Thailand faced regulatory headwinds in South Korea, where KuCoin’s app was blocked without a license. KuCoin is eyeing rapid expansions across Latin America, the Middle East and Europe, with its global user base nearing 40 million. It is also pursuing an EU-wide MiCAR license through Austria. While crypto trading is popular in the country, using crypto for payments was banned in 2022. In April, regulators targeted foreign P2P platforms to fight scams and money laundering. KuCoin is also working to resolve a lawsuit with the U.S. CFTC.
Charles Hoskinson warns that Ethereum may not survive the next 10-15 years. He criticizes Ethereum's reliance on Layer 2 solutions as harmful to its value. Continue Reading: Charles Hoskinson Predicts Ethereum’s Decline: A Stark Warning for the Future The post Charles Hoskinson Predicts Ethereum’s Decline: A Stark Warning for the Future appeared first on COINTURK NEWS .
Summary ⚈ Official Trump token surged 27.32% despite a recent 40 million token unlock. ⚈ Top 220 holders invited to a private gala hosted by Trump on May 22. ⚈ Investors expect insider insights and networking to drive further TRUMP token demand Official Trump ( TRUMP ) surged by 27.32% in the last 24 hours, and was changing hands at $11.93 at press time on April 24. This move to the upside occurred despite a recent 40 million token unlock , which would have normally put downward pressure on prices. TRUMP price 1-day chart. Source: Finbold Sudden, severe price action is nothing new for the President’s meme coin, which saw $38 billion in trading volume within days of its release, only to see a $2 billion decrease in market capitalization within a single week. However, the cause behind this most recent rally could lead to even higher gains. Namely, on Wednesday, April 23, the official Official Trump website revealed that the president will host a private gala dinner on May 22 — and that the 220 largest TRUMP holders will be invited. Was the Official Trump gala a networking opportunity — or a pump and dump team building event? Understandably, attending an event like this would be a great opportunity for risk-tolerant investors to meet, mingle, and network with other large account holders, some of whom are most likely active traders or industry insiders. Moreover, attendance could provide a behind-the-scenes look at the President’s future plans for his meme coin, which could very well provide an edge for taking advantage of Official Trump’s next high-liquidity event. TRUMP might see increased trading volume and buying pressure going forward, as cryptocurrency traders vie for a spot In a rare instance of transparency, the token’s website also maintains an Official Trump leaderboard linked to market intelligence platform Solscan , allowing investors to see the addresses that currently qualify for attendance. Featured image from Shutterstock The post Why Official TRUMP crypto is surging — and could rise even higher appeared first on Finbold .
JPMorgan analysts said that gold could extend its bull market through 2026, with the price of a troy ounce of the metal reaching $4,000, supported by the current trade war climate and ongoing demand from investors and central banks. JPMorgan Believes Gold May Touch $4,000 an Ounce in 2026 Gold keeps making headlines in one
Crypto markets are always buzzing with activity, and recent data on US spot Ethereum ETFs has caught the eye of investors. On April 23, these relatively new investment vehicles experienced a notable shift, recording net outflows. This movement, while not unprecedented in the volatile world of digital assets, prompts a closer look at what’s happening under the hood and what it might signify for the broader market, especially concerning the Ethereum price . Understanding the Recent Ethereum ETF Outflows According to data compiled by Farside Investors, April 23 saw a combined total of $23.9 million in net outflows from US spot Ethereum ETFs . This figure represents the net change in assets under management for these specific funds on that particular day, reflecting investors selling more shares than they bought. Let’s break down the numbers: Total Net Outflows: $23.9 million Leading the Outflows: BlackRock’s iShares Ethereum Trust (ETHA) saw the largest single outflow, totaling $30.3 million. Partial Offset: Grayscale’s Mini Ethereum Trust (ETH) experienced inflows of $6.4 million, helping to partially mitigate the total outflows. Other Funds: Other operational ETH ETF products reported no changes in their holdings for the day. This specific day’s activity highlights that while some funds are seeing redemptions, others are still attracting capital, albeit in smaller amounts. Why Do Ethereum ETF Outflows Matter? The launch of spot Crypto ETFs in the U.S., starting with Bitcoin and more recently extending to Ethereum, was hailed as a significant step for mainstream adoption. These products allow traditional investors to gain exposure to the underlying cryptocurrency without the complexities of direct ownership, such as managing wallets or private keys. ETF flow data is often seen as a proxy for institutional and traditional investor sentiment. Significant inflows suggest increasing interest and capital allocation towards the asset class, while outflows can indicate profit-taking, risk aversion, or a shift in investment strategy. For US spot Ethereum ETFs , tracking these flows provides insights into how quickly and enthusiastically traditional finance is embracing Ethereum as an investment asset. Early flows are particularly scrutinized as they can set the tone for future adoption curves. What Could Be Behind the $23.9M Outflow? Attributing a specific reason to a single day’s outflow is challenging, as market movements are influenced by a confluence of factors. However, potential reasons for the $23.9 million in Ethereum ETF outflows on April 23 could include: Market Volatility: Cryptocurrency markets are known for their price swings. Investors might take profits after a period of upward movement or reduce exposure during downturns. Broader Market Sentiment: Macroeconomic news, changes in interest rate expectations, or performance in other asset classes can influence investor appetite for risk assets like cryptocurrencies. Specific Ethereum News: Developments within the Ethereum ecosystem, regulatory discussions, or even news related to staking yields could impact investor decisions regarding their ETH ETF holdings. Fund-Specific Dynamics: Outflows from a particular fund like BlackRock’s ETHA might relate to specific large investors rebalancing portfolios or other fund-level considerations not directly tied to broader market sentiment towards Ethereum itself. Conversely, inflows into Grayscale’s Mini ETH could signal specific investor interest in that particular product structure or fee schedule. It’s crucial to view a single day’s data point within the larger context of weekly or monthly flows and the overall market trend for the Ethereum price . How Do Ethereum ETF Flows Compare to Other Crypto ETFs? While US spot Ethereum ETFs are newer to the scene, spot Bitcoin ETFs have been trading since January 2024 and have provided valuable precedents for analyzing Crypto ETFs flows. Bitcoin ETFs initially saw massive inflows, followed by periods of significant outflows (particularly from the converted Grayscale fund), and then resumed periods of net inflows. This volatility in flows is something investors should expect with cryptocurrency-linked investment products. The $23.9 million outflow from Ethereum ETFs on April 23 is relatively modest compared to some of the larger daily swings observed in Bitcoin ETFs, which have occasionally seen hundreds of millions in a single day. However, given the newer status and smaller overall assets under management for Ethereum ETFs, these early flows are closely watched indicators. What Does This Mean for the Ethereum Price and Investors? A single day of $23.9 million in Ethereum ETF outflows is unlikely to have a drastic, immediate impact on the global Ethereum price , which trades billions of dollars daily across various exchanges. The crypto market is deep and liquid. However, persistent or escalating outflows over a longer period could signal weakening institutional demand or increasing selling pressure from traditional finance channels, which *could* indirectly influence sentiment and potentially impact the Ethereum price over time. Conversely, sustained inflows would be a strong bullish signal. Actionable Insights for Investors: Don’t Overreact to Single-Day Data: Focus on trends over weeks or months rather than getting caught up in daily fluctuations. Consider the Context: Analyze ETF flows alongside other market indicators, such as overall trading volume, price action, and relevant news. Understand ETF Structure: Remember that ETF flows reflect buying and selling of ETF shares, which the fund managers then use to buy or sell the underlying ETH. This process can influence market dynamics. Diversification: As with any investment, consider diversifying your portfolio and not placing excessive reliance on a single data point or asset class. Challenges and Benefits of Investing via US Spot Ethereum ETFs Investing in Ethereum through a spot ETF offers several benefits: Accessibility: Easily traded on traditional brokerage platforms. Convenience: Avoids the technical challenges of direct crypto ownership. Regulatory Clarity: Operates within a regulated framework. However, challenges exist: Fees: ETFs charge management fees, which can erode returns over time. Tracking Error: The ETF’s performance might not perfectly mirror the spot Ethereum price due to fees, operational costs, and market dynamics. Market Hours: ETFs trade during traditional market hours, unlike the 24/7 crypto market. Flow Impact: Large ETF flows can sometimes impact the underlying asset’s price, though this is less likely with smaller daily amounts like the $23.9M observed. Looking Ahead: The Future of US Spot Ethereum ETFs The landscape for US spot Ethereum ETFs is still evolving. While the initial products are live, there is ongoing discussion and anticipation regarding potential further approvals or changes in product offerings. The performance and flow data from existing funds will likely influence future regulatory decisions and investor interest. Continued monitoring of Ethereum ETF outflows and inflows will be essential for understanding the pace of institutional adoption and its potential long-term effects on the Ethereum price and the broader ecosystem of Crypto ETFs . Compelling Summary The $23.9 million net outflow from US spot Ethereum ETFs on April 23, primarily driven by BlackRock’s ETHA, serves as an early data point in the life cycle of these new investment products. While Grayscale’s Mini ETH saw some inflows, the overall picture for the day was one of slight retraction. This single day’s activity is not a definitive trendsetter but a reminder that flows in Crypto ETFs can be volatile. Investors should track these flows over time, consider the broader market context, and understand that while ETFs offer convenience, they also come with their own set of dynamics. The journey of US spot Ethereum ETFs is just beginning, and their flow patterns will continue to provide valuable insights into institutional engagement with Ethereum. To learn more about the latest Ethereum market trends, explore our article on key developments shaping Ethereum price action.
Mutuum Finance (MUTM) continues to rise in demand throughout its presale phase by collecting $7 million while capturing 8,400 token holders and reaching 417 million token sales. Many investors rush to acquire MUTM tokens ahead of phase 5 price rise because it will increase the value from $0.025 to $0.03 per token. Mutuum Finance (MUTM) indicates potential to surpass the $1 price target that Dogecoin aims to achieve by 2025. The project demonstrates strong potential as an adversary because of its well-designed economic system and practical cryptocurrency benefits. Mutuum Finance (MUTM) Presale Mutuum Finance runs its 11-phase presale at $0.025 per token during the ongoing phase 4 while anticipating a 20% price increase ahead during phase 5. Phase 5 of the presale will initiate at $0.03 while investors who buy now will obtain a 20% value appreciation. Investors who join the $0.06 listing price will receive a total of 140% gain based on the tokenomics model. Phase 4 investors of Mutuum Finance (MUTM) will experience a 9,900% profit growth based on analyst projections from $0.025 presale to $2.50 post-listing phase. With the initial investment of $1,000 investors can achieve $99,000. Phase 4 of the presale shows a fast customer acquisition rate because it approaches its maximum capacity threshold. Mutuum Finance (MUTM) introduced its new dashboard that presents a ranking system for the top 50 token holders while giving these participants additional bonus tokens if they manage to keep their leadership positions. This incentivizes long-term commitment. The loan system of the project combines peer-to-contract and peer-to-peer systems which maintains stability while ensuring liquidity. Mutuum Finance (MUTM) Lending and Buyback System Mutuum Finance (MUTM) bases its operations on utility delivery instead of constant hype generation. Loan providers deposit ETH assets into liquidity pools to obtain earnings through mtTokens until these tokens grow in value. The borrowing process works through asset uploading which exceeds the borrowed amount to reduce the possibility of defaults and defaults. Platform revenue enables the buy-and-distribute mechanism which acquires Mutuum Finance (MUTM) tokens and returns them to stakers. The scheme maintains a stable market demand and controls market volatility. New investors can enter an early $100000 giveaway that awards ten participants each $10000 in tokens. Unlike meme-driven assets, Mutuum Finance (MUTM) offers tangible financial tools. The present difficulties faced by Dogecoin function as a direct opposite to its prior performance. Dogecoin’s Fading Momentum The Dogecoin (DOGE) market lost its momentum in 2025 when its whales sold off 570 million tokens which were worth $88.8 million in just one week. Trading at $0.15586, it’s down 50.7% year-to-date. The current RSI indicator maintains neutral values at 44.33. The asset shows indecisiveness based on $0.153 as support and $0.159 as resistance. The Dogecoin community loses faith in a possible price increase because the currency now trades below $0.157. The current market trends indicate DOGE will reach $0.14 and provide only remote possibilities for $0.17. Unlike Mutuum Finance (MUTM) Dogecoin depends solely on unpredictable social media sentiment because it does not offer practical utility goals. The existing gap between Mutuum and Dogecoin indicates that Mutuum will surpass Dogecoin in reaching $1. Final Thoughts Mutuum Finance (MUTM) is leading the market towards its position of dominance during 2025. Dogecoin faces competition from Mutuum Finance (MUTM) because of its successful presale campaigning alongside its sound loan structure and asset repurchase operations. The current $0.025 value in phase 4 will give way when phase 5 triggers a 20% price rise. Potential investors should seize this rare opportunity due to a 9,900% increase from $0.025 to $2.50 and its initial listing value reaching 140% of price. Mutuum Finance (MUTM) offers a more stable ascent than Dogecoin due to its methodical price activities. Those interested in earning high returns from DeFi operations should move ahead quickly. For more information about Mutuum Finance (MUTM) visit the links below: Website: https://www.mutuum.finance/ Linktree: https://linktr.ee/mutuumfinance
President Trump’s official Solana-based meme coin, TRUMP, rocketed on Wednesday after the announcement that some of the top token holders will soon have the chance to dine with the President at his private golf club in the United States’ capital. President Trump Organizing Private Dinner With Top 220 $TRUMP Holders President Trump, who debuted his own meme coin called $TRUMP just days before he was sworn into office in January, is set to host a gala on May 22 at the Trump National Golf Club in Washington, D.C., for the “top 220 average $TRUMP holders”. To register, users must provide their full legal name, email address, phone number, and access to their Solana wallet, which holds the tokens. Holders are urged to “hold as much $TRUMP as you can” from April 23 to May 12, which will determine the ranking. “The more $TRUMP you hold — and the longer you hold it — the higher Your Ranking will be,” according to the project’s website , which also shared a leaderboard on April 23. $TRUMP going vertical on news The President will host a dinner with the top 220 holders of his meme coin. pic.twitter.com/EapN73C2NZ — K A L E O (@CryptoKaleo) April 23, 2025 Of the 220 attending the event, the top 15 $TRUMP holders are invited to an “exclusive reception before dinner with your favorite president,” and will also get a “VIP White House Tour,” the site proclaimed. TRUMP Token Jumps 50% News of the announcement created a massive stir among crypto traders, propelling the price of the token higher less than an hour after the dinner announcement. According to CoinGecko data, $TRUMP soared roughly 65% to hit 14.44 — its highest price since early March, before recoiling to $13.37 as of press time. The token is still up 50.4% over the last 24 hours. But even with the day’s 50% surge, the token remains roughly 80% off its all-time high. Notably, the gala comes on the heels of about $300 million worth of previously locked-up TRUMP tokens being released into circulation on April 18, as per Tokenomist data. A whopping 75% of $TRUMP’s ultimate 1 billion token supply is earmarked for the project’s creators and owners, including Trump himself. The next unlock is scheduled for July and will increase the supply by over $600 million coins. It’s worth mentioning that Trump’s wife, Melania, launched her own meme coin in January shortly after the rollout of $TRUMP. Since returning to the Oval Office for his second term, Trump has adopted a more lenient approach to crypto, appointing agency chairs who are viewed as pro-crypto and recently hosting the first-ever White House crypto summit .
This is a 66% increase from the previous year. Elderly victims were hit the hardest, with $2.8 billion in losses. Fraudulent investment schemes dominated, while sextortion and scams involving crypto ATMs also surged. AI-driven impersonation scams worsened the threat landscape, and was even recently seen in a case involving crypto influencers like Scott Melker. Meanwhile, victims of the Celsius Network collapse are still seeking justice. Over 200 impact statements were submitted ahead of Alex Mashinsky’s sentencing on May 8, where he faces up to 30 years in prison. FBI Reports Record-Breaking Crypto Fraud Losses The Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center (IC3) revealed a big surge in cryptocurrency-related fraud in its latest annual report . In 2024 alone, more than 140,000 complaints involving digital assets were submitted to the IC3, with reported losses soaring to an estimated $9.3 billion. This is a 66% increase compared to the $5.6 billion in losses that was reported in 2023. (Source: FBI ) The report pointed out that people aged 60 and older were disproportionately affected, and submitted close to 33,000 complaints. This group also accounted for $2.8 billion of the total losses. The elderly demographic not only experienced the most serious financial damage but also filed the highest number of complaints. (Source: FBI ) Fraudulent crypto investment schemes were responsible for the bulk of the financial losses, while the most frequently reported scam category was “sextortion,” in which criminals used manipulated images or videos to blackmail victims. Other common tactics included scams involving cryptocurrency ATMs and kiosks, which have become increasingly popular tools for fraud. According to the IC3, the total reported losses from all internet-related crimes in 2024 reached a record $16.6 billion. Ransomware was still the top threat to critical infrastructure, with incidents rising 9% year-over-year. Although the FBI made progress in mitigating these threats through “ Operation Level Up ,” which prevented an estimated $285 million in potential losses between January 2024 and January 2025, the report suggests the threat landscape is far from contained. Blockchain analytics firm Chainalysis reported that roughly $41 billion in crypto transactions in 2024 were linked to illicit activity. Around a quarter of those funds were associated with hacking, extortion, trafficking, or scams. The year also saw some of the largest crypto heists on record, including a $1.4 billion theft from Bybit in March and more than $1.3 billion that was allegedly stolen by North Korean hackers. (Source: Chainalysis ) Looking ahead, Chainalysis warned that 2025 could bring an even bigger wave of fraud, largely fueled by the growing accessibility and effectiveness of generative AI. These tools have made it a lot easier and cheaper for cybercriminals to scale their operations. This poses new challenges for regulators, law enforcement, and everyday users in the digital finance ecosystem. AI Fraudsters Steal Millions AI’s destructive role in crypto fraud recently came to light. Crypto podcaster Scott Melker, host of The Wolf Of All Streets , revealed that scammers are using his name, face, and even AI-generated identities to defraud unsuspecting victims. This included one individual who lost a staggering $4 million. In a post that was shared on April 23, Melker described feeling ”sick” after being informed by a private investigator that a Nigerian scam group impersonated him with a fake driver’s license and an email account designed to appear legitimate. The fraudsters even went as far as conducting sophisticated Zoom calls with AI avatars, and allegedly spoofed the identities of Melker’s wife and children to make their deception look more legit. Melker explained that the group scammed multiple people by using generative AI to create highly convincing identities and interactions. This is very similar to other incidents across the crypto space. Technical analysis group TheChartGuys reported a comparable case where scammers used deepfake voice technology to impersonate them. This led one victim to lose $5,000. While the tools that were used by these scammers are becoming increasingly advanced, not all of their tactics are flawless. Crypto trader and advisor “Nebraskan Gooner” shared that some of the AI-generated fake IDs had noticeable errors in formatting, which could be spotted with a basic internet search. He is quite shocked that such a well-organized operation could still produce documents with clear mistakes. On the bright side, the wave of AI-enabled fraud is not going unnoticed by authorities and industry experts. In March, California’s Department of Justice announced the emergence of seven new crypto scam formats taking advantage of artificial intelligence. Meanwhile, Microsoft also weighed in on the issue, and stated in a recent report that malicious actors are using AI to enhance their social engineering tactics. The software giant warned that AI tools are being employed to scrape the web for personal and corporate data, which scammers then use to construct highly believable lures and targeted attacks. Melker acknowledged the worrying trajectory. “It’s going to get exponentially worse, I would imagine,” he said. He is now one of many crypto personalities getting more worried about generative AI that blurs the lines between real and fake. Celsius Victims Plead for Accountability Even years after a crypto fraud case, victims still struggle to find some justice. Federal prosecutors recently submitted over 200 victim impact statements in the case against Alex Mashinsky, the founder and former CEO of the now-defunct crypto lending platform Celsius Network. According to a letter that was filed on April 23 by interim US Attorney for Manhattan Jay Clayton, the statements span 418 pages and outline the emotional and financial toll the platform’s collapse had on hundreds of victims. Many users recounted trusting Mashinsky’s repeated assurances that Celsius was a safe place to store their digital assets, only to lose very large portions of their savings. Alex Mashinsky Celsius once offered crypto yield accounts and loans collateralized by cryptocurrency, but stopped withdrawals in mid-2022 amid a broader crypto market meltdown before filing for bankruptcy in July of that year. Mashinsky was indicted in July of 2023 and later pleaded guilty to commodities and securities fraud in December. He faces up to 30 years in prison if the sentences are applied consecutively. (Source: X ) While most of the submitted statements call for the harshest possible sentence, a minority have asked for leniency. One letter from a person named “Mike” claimed without evidence that Mashinsky was targeted in a coordinated attack led by FTX founder Sam Bankman-Fried. Another, from Artur Abreu, argued that macroeconomic factors played a big role in Celsius’ downfall and urged the court to consider Mashinsky’s remorse. Mashinsky himself asked for a sentence of no more than one year and one day. His sentencing is scheduled for May 8, while the government's formal sentencing recommendation is expected on April 24.