Business

FBI warns of cryptocurrency scams, Trump’s bold crypto proposal – Prediction for 2025

Published

Friday, 27 December 2024, 6:11 pm

FBI warns of cryptocurrency – FBI warns of cryptocurrency…

FBI warns of cryptocurrency – Following the $5.6 billion…

Following the $5.6 billion losses in America’s crypto industry by scammers and criminals in 2023, law enforcement has been extra cautious. They spoke again during the recent US election.

Whenever there is a large and renowned financial system or platform, it draws attention from all sorts of people, including criminals. Cryptocurrencies were no exception.

In fact, it has been increasing yearly, and 2023 saw a 45% rise in it. Investors suffered the most from all the total losses (71%).

Since September 2024, Doland Trump and his family have been highly active in cryptocurrencies. The FBI already disliked this, calling it a hive of pervasive criminality.

With Trump winning the election in November, his family and associates are more at it now, providing bold proposals. Of course, this has caused the FBI to warn potential investors about the potential issue.

This article will discuss what it means for the crypto industry and what we can expect in 2025.

The Start of the Whole Crypto Situation with Trump and the FBI

You see, the FBI has been skeptical about crypto rules for ages. They have been hot on any crypto fraud for many years. In 2023, they released their cryptocurrency fraud report.

This report showed just how much criminal activities are happening in this industry. It said-

“Since cryptocurrencies eliminate the need for financial intermediaries to validate and facilitate transactions, criminals can exploit these characteristics to support illicit activity such as thefts, fraud, and money laundering.”

According to Assistant FBI Director Michael D. Nordwall, criminals have been exploiting every nook and cranny of cryptocurrency categories.

Now, let’s come to September 2024. In case you didn’t know, Trump was strictly against crypto in the early 2020s. We have seen a constant back-and-forth among politicians, renowned people, and different parties regarding their stance on crypto.

Cryptocurrencies have gained support from both the left and the right, but they have also received many criticisms (again, from both sides).

Two popular figures who strictly opposed it were Gary Gensler and Elizabeth Warren. This argument about crypto is still present in the US (alongside other countries).

Trump’s Shifting Opinion on Crypto

After Trump started embracing crypto, we have seen many other big names do it, too. However, the events were not necessarily casual but correlated.

For example, Chuck Schumer, who previously supported Gensler and Warren, detached. Moreover, after a federal judge rejected Gensler’s attempt to stop a Bitcoin ETF, its price soared.

We should note that despite all this unfolding, many Americans are still sceptical about crypto. They believe that banks are still the safer way to trade than current cryptosystems.

However, it is still unclear how knowledgeable the participants were about crypto and DeFi in the Pew Study survey in 2023 that revealed this.

Trump’s shift towards crypto started early this year. Things turned interesting after Trump launched his crypto, WLFI, and it flopped on the first day.

Why Did WLFI Crypto Crash Despite Trump’s Victory?

On the first day of WLFI crypto’s release, things were already turning bleak for the authorities. Experts believe there are two reasons behind this. They are-

WLFI is Unavailable to Most

Not everyone can get their hands on the DeFi coin as its authorities have set strict criteria on who can buy it. The major requirements are that-

Living in the USA:

The buyer needs to be living in the USA. And,
The buyer must be an ‘accredited investor.’ Or,

Living outside the USA:

The buyer must be living outside the USA.

If you live in the USA but don’t meet the second criterion, you can’t even advance the KYC (know your customer) period on the WLFI official website.

So, what makes you an accredited investor? Investopedia has stated that the necessities to become an accredited investor, one must either-

Have a net worth higher than $1 million. And,
Have an annual income of $200,000 or higher. Or,
Be a director or executive of a company issuing unregistered securities.

It goes without saying that many people don’t match these descriptions.

Of course, the buyer can choose the ‘outside the USA’ option. However, that will require them to show proof of residency from any foreign nation.

WLFI Is Non-Transferable

You may have wondered from the last section: Can’t people from the USA just get someone from outside to buy it for them and later transfer it to their account? Well, no.

WLFI authorities made it impossible for anyone to transfer the token from one wallet to another. This trait stops people from bypassing the criteria for buying the token.

You may wonder—if the user can’t sell or transfer it, what use does it have? Nothing at the moment, really. They can only hold it for now and wait for DeFi protocols to come out.

When the DeFi protocols are launched, WLFI holders can vote on major proposals. Not many people have shown interest in the token with such limitations.

People’s Distrust of The Token

Despite the token’s website clearly stating that anyone can’t sell or transfer the token in the fine print, many didn’t notice it. It caused an outrage among many buyers who now believe it to be a scam.

Some even said that WLFI authorities knew people don’t read the fine print, so they added it there. However, we can’t blame the authorities for this.

There has been another problem. Many were confused on the KYC page. The confusion arose from two reasons-

Some didn’t know what it meant to ‘live in the USA,’ as it didn’t say to have any citizenship.
Some didn’t understand what it means to be ‘accredited investors,’ as the website didn’t mention the necessary criteria.

Overall, many stayed away from the token because they were either confused or sceptical.

Related information

Read more about this topic

Related information

Read more about this topic

Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels

Business

NucleusIS Africa acquires Rigo Microfinance Bank

Published

1 week ago

December 17, 2024

John

NucleusIS Africa acquires Rigo – NucleusIS Africa acquires Rigo…

NucleusIS Africa acquires Rigo – Africa’s fast growing technology…

Africa’s fast growing technology company completes 100% acquisition of Rigo Microfinance Bank, making it one of the biggest healthcare finance technology companies in Africa. NucleusIS Africa Limited, Africa’s fastest-growing technology company, has announced its acquisition of Rigo Microfinance Bank Limited. This landmark takeover is expected to strengthen NucleusIS Africa’s ability to deliver cutting-edge healthcare financing services across the continent.

Speaking on the acquisition at press time, Mr. Femi Niyi, Board Chairman of NucleusIS Africa Limited, expressed optimism about the expanded opportunities this acquisition creates. “This acquisition aligns perfectly with our vision of transforming healthcare financing in Africa. Combining our innovative solutions with Rigo Microfinance Bank’s financial services infrastructure will enable us to address critical healthcare challenges more effectively,” he said.

The acquisition underscores NucleusIS Africa’s mission to close the healthcare funding gap through technology-driven solutions. By integrating Rigo Microfinance Bank’s established financial infrastructure, the company aims to broaden its reach and enhance its ability to offer seamless, customized financial services to healthcare providers and patients.

Industry experts believe this acquisition positions NucleusIS Africa as the leading force in healthcare finance innovation across Africa. NucleusIS Africa will be able to better support medical service providers and expand access to essential healthcare services for more Africans.

With the added capacity, the company plans to introduce new financial products designed to support healthcare providers, facilitate patient financing, and significantly improve access to quality healthcare services.

The move is a strategic step toward reshaping Africa’s healthcare financing landscape.

The acquisition of Rigo Microfinance Bank Limited marks a new chapter in the company’s mission to create sustainable healthcare solutions through financial empowerment.

NucleusIS Africa Limited, founded in 2021, is a Nigerian Tech Company leading groundbreaking innovation to enhance healthcare access in Africa, through technology and finance driven solutions. The company’s flagship platform automates health insurance operations, connecting insurers, healthcare providers, and individuals across Nigeria and Ghana.Within the last few years, the organization has onboarded over 700,000 insured individuals, while partnering with major health insurance providers.

NucleusIS has also introduced a groundbreaking credit product – Provider Advance, that has transformed the financing landscape for healthcare businesses. Pharmacies, hospitals, laboratories, and other providers can access collateral-free business loans in as little as 48 hours, eliminating the traditional financing hurdles of collateral requirements and lengthy turnaround times.

Within the last few years NucleusIS has demonstrated its commitment to supporting the healthcare industry, having disbursed over ₦10 Billion in loans to healthcare businesses across Nigeria.

#FeaturedPost

Related information

Read more about this topic

Related information

Read more about this topic

Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels

Business

Fuel hike, bad roads behind onion shortage – Anambra traders

Published

1 week ago

December 17, 2024

John

Fuel hike, bad roads – Fuel hike, bad roads…

Fuel hike, bad roads – Traders and buyers at…

Traders and buyers at Eke Awka Market, in Anambra State’s capital, have attributed the scarcity of onions to rising fuel prices and the country’s poor road network.

A News Agency of Nigeria (NAN) survey conducted on Tuesday revealed that onions, a key condiment used to spice food, have become increasingly difficult to find and afford.

Obigaeli Nwokoye, a petty trader dealing in onions, explained that a few weeks ago, there was no onion available in the entire market due to bad roads. She added that suppliers from the northern part of the country faced delays, as the high cost of fuel and poor road conditions hindered transportation and logistics.

“Drivers coming from Kano face major challenges, which delay their deliveries to Awka.

“The government should address these issues and give special attention to food transporters to ensure a steady supply of food items.”

Mrs Chioma Okeke, another seller, shared that the price of a bag of onions had skyrocketed to ₦370,000, compared to ₦258,000 in November. She further noted that the price had steadily increased throughout the year, from between ₦70,000 and ₦90,000 in January to ₦110,000 to ₦170,000 around August/October.

“From November to December, the price jumped to between ₦250,000 and ₦300,000.”

Mrs Doris Beluchukwu, a buyer, expressed frustration at the soaring prices and scarcity.

“Onions that used to cost ₦100 or ₦200 are now priced between ₦500 and ₦2,000,” she said.

She also urged the government to ensure its food regulatory agencies functioned effectively, as some of the food shortages might be artificial.

“Government needs to act quickly to ensure a steady supply of basic food items to markets across the country,” Beluchukwu added.

Related information

Read more about this topic

Related information

Read more about this topic

Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels

Business

Free Slots: An accessible way to enjoy casino games

Published

1 week ago

December 17, 2024

John

Free Slots: An accessible – Free Slots: An accessible…

Free Slots: An accessible – According to statistics, the…

According to statistics, the revenue in the online gambling market is projected to reach 97.15 billion USD in 2024. This represents a revenue change of 14.1%. As more and more people want to enjoy the fun of the casino, it makes sense for online casinos to offer some games for free. In this article, we’ll tell you all about free slots and how you can access them for casino fun.

How Free Slots Work

Essentially, free slots are slot machine games that don’t cost you anything to play them. This means you can enjoy them as much as you want without worrying about spending any money. There are many benefits to this, of course. You can find your favorite games and enjoy them without the gambling element and you can try out new games to see if you like them before spending any of your hard-earned cash.

The games you can play will vary from site to site, just like their paid versions. You’ll get access to all of the common features like bonus rounds, free spins, and the progressive jackpot element if there is one. However, because you’re playing for free, anything you win will also be virtual, so there’s no chance of winning a payout—unless you’re using free spins from a no-deposit bonus, for example.

The Benefits of Free Online Slots

Free online slots have their advantages. Here’s a summary of why many people enjoy them:

It’s risk-free entertainment: You can play the games to your heart’s content without the fear of losing money being there.
Skill development: For slots that are more strategic or challenging, free slots and demo versions mean you get to practice your gameplay and familiarize yourself with the rules.
Work out how much you’d like to play with: When you play a game for free, you can test out its volatility and RTP (return to player) to see if it’s worth the risk of betting higher or whether you should stick to small amounts.
Diverse game selection: Free slots are available in a wide range of themes and styles. There are thousands of different ones available so you’ll always find something you enjoy.
Advertisement

Key Features to Look For in Free Slots

Ultimately, what you look out for depends on the individual, but some things will make the free slot experience better. This includes:

The graphics and sound: This enhances the gaming experience and some games are much better than others.
Return-to-player (RTP) percentage: Playing free slots allows you to test out games with different RTPs to see if you like playing them and they’re worth the risk if the RTP is lower.
Mobile compatibility: Trying out a game on a mobile device for the first time can be a bit hit-and-miss. Using a free version means you can see if it works well before spending your money.

Tips For Finding the Best Free Online Slots

To find the best free slots, you’ll need to look around. Some online casinos don’t allow you to play their games for free until you register while others are happy to let you try them out before you sign up.

Looking at online reviews by other players is also useful as you won’t then waste time playing games you know aren’t great. Also, there are plenty of sites that aren’t casinos that allow you to play games by top developers in demo mode.

The Potential Problem of Free Slots in Online Gaming

Realistically, software developers allow you to play their games for free because they want you to enjoy them. Online casinos offer free games to entice you to join and spend real cash. If you know this and are a responsible gamer, there’s no reason why you can’t have fun playing this way. All reputable sites have responsible gaming tools so if you do decide to stop playing the free versions, be sure to join a site that is licensed and reputable, then you have protection against problem gambling.

Conclusion

Free slots have so many advantages and as long as you’re aware of the potential downside and are a responsible gamer, there’s no reason why you can’t continue to enjoy free slots for as long as you want. These are an entry point into the world of online casinos but they can just be where you stop too. Free slots are a relaxed way of learning about casino gaming mechanics and can help you unwind.

#FeaturedPost

Related information

Read more about this topic

Related information

Read more about this topic