$100 Investment In Bitcoin In 2009 Would’ve Made You A Multi-Millionaire Today🤑

Happy Friday, fellow crypto enthusiasts! 🥳

We’re back with the juiciest news of the week in the crypto-sphere, served with a side of fresh guac and hot salsa!

But wait, there’s more! In today’s edition, we’re also diving deep into the time machine and checking out what would have happened if you’d invested $100 in Bitcoin back in 2009.

💰Binance US Stops Dollar Deposits

💣Google Brings the Big Guns to Fight Crypto Mining Attacks

🎨Notes from the Editor’s Desk

💶EU to Crypto Ads: ‘Auf Wiedersehen, Adieu!’

Binance US Temporarily Suspends USD Deposits

Binance.US made a big announcement on June 9 🗓️💬 – their payment and banking partners had to suspend their USD channels due to a pesky lawsuit from the SEC 🙅‍♂️💼.

Apparently, Binance and related entities were allegedly breaching securities laws by operating as an unregistered exchange 🤫.

The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. https://t.co/AZwoBOgsqS and our business partners have not been spared in the use of these tactics, which has created… pic.twitter.com/rlIe6swIoY
— Binance.US 🇺🇸 (@BinanceUS) June 9, 2023

If you’re a USD user on Binance.US, better take note that your banking partners are intending to halt all USD payment channels by June 13 ⏰.

The exchange is advising users to withdraw those USD balances via bank transfer before the deadline .

But wait, there’s more! Binance.US is warning users that there might be delays in processing those withdrawals due to the expected high volume of requests and weekend bank closures.

Not exactly ideal, is it?

The Wise Guy’s Take: 😕 Considering the recent charges and allegations against Binance.US, it’s better to be safe than sorry . So, we suggest moving your crypto out of their platform . While it’s possible that the whole thing might end up being a trivial matter, it could also turn out to be a major disaster 🚨.

Crypto Mining Attacks Got Ya Down? Google Has Your Back with $1M Protection

Now, we all know that crypto mining attacks can cause financial and security risks for individuals and organizations, which is why Google’s got your back, baby! They’ll take responsibility for your costs up to a cool million bucks! 💻

Just don’t get any bright ideas about Bitcoin mining, folks – this policy only covers those who use mining software, not those engaged in Bitcoin BTC/USD mining. Sorry, Charlie! 🙅‍♂️

It’s worth noting that Monero XMR/USD is one of the most favored cryptocurrencies to be mined this way.

But how do they detect these pesky mining attacks, you ask?

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Well, Security Command Center scans virtual machine memory for malware without agents that can slow performance and increase an organization’s attack surface. Sounds pretty fancy, doesn’t it? 🔬

All joking aside, it’s great to see Google taking steps to protect its customers from crypto mining attacks. We can all rest easy knowing that our cloud accounts are in good hands! 😌👏

Nobody Can Stop Crypto: Note From The Editor’s Desk

Crypto is going bonkers and we just had to write an opinion on what the heck is happening 🤯

The U.S. Securities and Exchange Commission (SEC) is suing Binance, one of the largest crypto exchanges in the world , and CEO Changpeng Zhao is giving us a masterclass in Twitter rallying 📣. His latest tweet, a simple “4,” has left many of his 8 million followers scratching their heads .

In crypto-land, “4” means “ignore FUD, fake news, attacks, etc.” 🤫🆗

Will try to keep 2023 simple. Spend more time on less things. Do's and Don'ts.

1. Education
2. Compliance
3. Product & Service

4. Ignore FUD, fake news, attacks, etc.

In the future, would appreciate if you can link to this post when I tweet "4". 🙏
— CZ 🔶 Binance (@cz_binance) January 2, 2023

But let’s get serious for a moment. Binance is being sued by not one, but two top U.S. finance watchdogs 🚨.

And it’s not just a matter of not having the appropriate licenses to operate. Oh no, it’s much more serious than that 💣.

Binance is being accused of endangering customer funds, facilitating wash trading, and improperly moving customer funds without consent, among other things . The SEC is claiming that Binance.US is putting $2.2 billion of U.S.-based clients’ funds “at significant risk.” Yikes! 😬

But wait, there’s more! Binance is also facing a criminal investigation from the U.S. Department of Justice (DOJ) . And we are seriously wondering if the company will survive as a brand 📉. Is Binance’s reputation down the drain? Will it become the next Blockbuster, left in the ashes of crypto history? 🔥💸

Despite all this drama, users around the world are still using Binance. And let’s not forget that Binance still has a massive global user base, even if a significant chunk of its revenues came from U.S. customers 🌎.

So what can we expect from Binance in the future? Will it continue business as usual? Will it delist tokens and lose its founder/CEO as a figurehead? Only time will tell, but here’s one thing we know for sure: you can’t kill an idea. And in crypto-land, ideas are worth their weight in FUD. 💪

Instagram, TikTok, And Twitter Say ‘Bye Felicia’ to Crypto Ads in the EU

Well, it looks like the crypto con artists have done it again! 😒 The largest consumer rights group in Europe, BEUC, is calling out crypto marketers on popular social networks for promoting misleading information that poses a significant danger to consumers 🚫. And just when we thought TikTok was only good for silly dance videos…

BEUC’s report, called “Hype or harm? The great social media crypto con,” highlights the lack of awareness consumers have about the risks involved in using cryptocurrencies 📊. Apparently, social media platforms like Instagram and Twitter have been perpetuating deceptive ads for crypto assets, leading to an unfair commercial practice .

But don’t worry, folks! BEUC is on the case and is pushing for regulatory action to address this issue and protect us from the dangers of the crypto con 🔍. They even want measures implemented to prevent influencers from misleading us. It’s nice to know someone’s got our backs in this crazy crypto world .

Honorable Mentions 🏆

Crypto Market Watch

We’re about to take a journey back to 2009 when “Bitcoin” was just a funny word that nobody was quite sure how to pronounce.

If you had invested $100 in Bitcoin when it was first created, you’d have a whopping 1,000 Bitcoins sitting in your digital wallet.

That’s right, the initial value of Bitcoin was less than 10 cents, and now each coin is worth over $26,500 USD, which means your $100 investment would be worth over $26,500,000 today.🤑