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Online star Hawk Tuah girl faces crypto coin criticism​


Haliey Welch, known mostly as the star of the viral "Hawk Tuah" meme, is facing criticism after her newly launched cryptocurrency nosedived in value.

Her "Hawk" digital coin hit a $490m market cap shortly after it launched on Wednesday, before suddenly losing more than 95% of its value within hours.

This has led some, including YouTube cryptocurrency investigator Coffeezilla, to accuse Ms Welch of scamming investors with a "pump and dump" - where the people behind a coin hype up its price before launch, then sell it for profit.

She has denied allegations that her team sold any of the tokens they owned.

The BBC has approached Ms Welch's representatives for comment.

"Team hasn't sold one token," she wrote in a copy and pasted post on X (formerly Twitter) on Wednesday.

She added that no "KOL" (key opinion leaders) were gifted a free token.

Ms Welch had previously distributed free Hawk tokens to some fans ahead of the launch across social media.

Hawk launched on the Solana blockchain at around 22:00 GMT on Wednesday, and its market capitalisation soared to highs of $490m shortly after.

However it fell sharply from this high to around $60m just 20 minutes later.

Fans and investors have accused Ms Welch and her team of "misleading" and "betraying" them and suggested the launch had been a "rug pull" - where promoters of a cryptocurrency draw in buyers, only to stop trading activity and make off with money raised from sales.

A community note on Ms Welch's X post contests her explanation, saying her team had been selling their Hawk coins since launch.

Scam allegations

Coffeezilla, real name Stephen Findeisen, also claimed that Hawk gave "insiders" an advantage.

"Unfortunately with situations like this, they're not targeting crypto bros, they're mostly targeting actual fans who have never been involved in the crypto space before," he said in a video viewed more than 1.4 million times.

He accused Ms Welch's team of "profiting from a rug pull".

"These people were unwilling to take any accountability" of the "Hawk Tuah scam", he claimed, after sharing a clip of him speaking to some of the people behind the cryptocurrency.

Ms Welch's post on X claimed that her team attempted to prevent so-called "snipers", who buy and sell cryptocurrencies quickly at moments when they are likely to make the most money from a gap in buy and sell price - sometimes using automated trading tools - by imposing higher fees on one exchange.

The team behind the cryptocurrency, OverHere, has dismissed other claims about the launch in an X post.

It stressed that "Haliey's Team has sold absolutely no tokens whatsoever".

Meme coins such as this have been booming in popularity due to their jokey, cheap appeal for investors.

They are often viewed as being less risky than more high profile crypto assets like Bitcoin or Ethereum, but carry the same dangers - with often no protection for those who lose money on them.

Carol Alexander, professor of finance at Sussex University, told the BBC on Thursday that while more young people are investing in meme coins, many of them are losing money.

Several celebrities or influencers who have ventured into the crypto market have faced similar backlashes.

In 2021, Kim Kardashian was fined $1.26m by US regulators after she failed to disclose that she had been paid to post an advert for a cryptocurrency scheme called EthereumMax.

More recently, YouTuber Logan Paul was accused of misleading fans by promoting crypto coins or investments without divulging his own financial interest in them.

Who is 'Hawk Tuah Girl' Haliey Welch?

Known online as the "Hawk Tuah girl", Ms Welch went viral after speaking the onomatopoeia "hawk tuah" - imitating the sound of someone spitting - during an interview in June.

It made the 22-year-old, from Belfast, Tennessee, an overnight internet sensation.

She amassed hundreds of thousands of followers across various social platforms and launched her own merchandise and a podcast called "Talk Tuah".

Her manager told the Hollywood Reporter in July that she was unique in not having sought out internet fame, having been off social media for mental health reasons for several months before appearing in the now-viral "Hawk Tuah" video.

Rolling Stone has likened her funny, small-town personality to a "Gen Z Dolly Parton".

Ms Welch told outlet TMZ ahead of Hawk's launch on Wednesday that she launched it to tackle "a bunch of imposters" pretending to be her and selling their own coins.

"It's a really good way to get all my fans and community to interact and come together," she said.

 
Call me a hater but Crypto is basically a tool for the social media influencers to scam people. It’s modern day pyramid scheme. Be extremely careful with your hard earned money. These assets are so volatile they can nosedive 90-95% some day just like that.
 
Bitcoin hits new record high of more than $106,000

Bitcoin has surged to a new record high, extending a rally that has seen the cryptocurrency's price rise by more than 50% since Donald Trump's victory in the 5 November election.

The world's largest cryptocurrency briefly passed $106,000 (£83,890), before falling back to around $105,000 in Asia trade on Monday.

The incoming Trump administration is seen as being far more friendly towards cryptocurrencies than the Biden White House.

On Thursday, the US president-elect reiterated that he is considering creating a national stockpile of the digital currency, similar to the country's strategic oil reserve.

"The Bitcoin rally since the election has been parabolic and the FOMO - or fear of missing out - rally is gathering momentum," Peter McGuire from trading platform XM.com told the BBC.

"Many investors believe $120,000 is achievable by the end of the year and then in 2025 there's talk of greater than $150,000 by mid-year".

Earlier this month, Trump named Silicon Valley entrepreneur David Sacks as his artificial intelligence (AI) and cryptocurrency tsar.

Mr Sacks is former PayPal executive and a close friend of Trump adviser and mega-donor Elon Musk.

Trump has also said he would nominate pro-cryptocurrency Washington attorney Paul Atkins as the new head of the Wall Street regulator, the Securities and Exchange Commission (SEC).

Last month, the SEC's current head, Gary Gensler, said he would resign from the role on the day of Trump's inauguration, on 20 January next year.

"I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favour," Mr Gensler wrote on the social media platform X.

Trump had previously revealed plans to sack Mr Gensler on "day one" of his new administration after the SEC chairman took legal action against cryptocurrency firms, sparking controversy in some quarters.

BBC
 
Bitcoin to Pakistani Rupee (pkr) rates for December 19, 2024

The price of Bitcoin (BTC) was recorded at Rs 28,428,210 in Pakistani Rupees (PKR) on 19 December 2024 (approximately Rs28.42 million) following a decrease during today’s trading session.

Bitcoin has experienced major increases since the United States elected Donald Trump as president, as investors anticipate that the new administration will implement more favourable policies for cryptocurrencies.

It is pertinent to mention that in 2018, the State Bank of Pakistan (SBP), issued a notice in which, they warned commercial banks and general banks against the use of cryptocurrencies like Bitcoin or Litecoin.

 
Hackers steal $2.2bn from crypto platforms

Funds stolen by hacking cryptocurrency platforms surged 21 per cent from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday.

The hacking amount exceeded $1 billion for the fourth straight year and the number of incidents rose to 303 from 282 in 2023, it said. Hackers had stolen $1.8 billion in 2023.

The rise in crypto heists comes as bitcoin jumped 140pc this year to surpass $100,000 mark, drawing institutional participation and backing from US president-elect Donald Trump.

“As the digital asset market booms, it is typical to see the illicit use of crypto grow in tandem,” Chainalysis’ cybercrimes research lead Eric Jardine said.

“Countering the proliferation of these crimes especially fraud will undoubtedly be a key challenge for the industry in the new year.” Compromises to private key that controls access to users’ assets accounted for the majority of stolen crypto this year with most of the attacks targeting centralised platforms, the report said.

Among the most notable hacks are the theft of more than $305 million from Japan’s crypto exchange DMM Bitcoin in May and the loss of $235 million from India’s WazirX in July.

Crypto hacking linked to North Korea more than doubled from a year ago to a record high of $1.3 billion in 2024, Chainalysis said.

Cryptocurrency allows North Korea to circumvent international sanctions, the United Nations has said. The country routinely denies involvement in cyber hacking or crypto heists.


Dawn News
 
The cryptocurrency market experienced an exceptional year in 2024, with Bitcoin (BTCUSD) rallying to over $100,000 for the first time.

The surge followed an explosive demand for newly launched spot Bitcoin exchange-traded funds (ETFs) and was further driven by a Bitcoin halving that restricted the supply of new coins.

The election of Donald Trump and several crypto-friendly lawmakers also boosted the price of Bitcoin. “Trump’s election provided a new wave of optimism for crypto investors,” said an industry analyst.

Looking ahead to 2025, market participants are closely watching developments in regulatory clarity. One of the biggest concerns in the crypto market has been uncertainty regarding the U.S. Securities and Exchange Commission’s (SEC) approach. On the campaign trail, Trump promised to fire SEC Chair Gary Gensler and establish a ‘Strategic National Bitcoin Stockpile.’ Trump has also proposed crypto advocate Paul Atkins to head the SEC, a move that could shift the regulatory landscape.

Despite hopes for clearer regulations, experts remain cautious. “Trump’s stance on decentralized finance (DeFi) and crypto has been inconsistent,” said Sarah Brennan, General Counsel at Delphi Ventures. “While he has shown interest, much of his focus appears to be on supporting dollar dominance and real estate applications.”

Analysts predict Bitcoin could reach as high as $200,000 by the end of 2025, with some firms, like Bitwise and VanEck, forecasting the digital asset to hit $180,000. The finite supply of Bitcoin, with only 21 million available, combined with increasing demand from institutional investors, has driven the bullish outlook.

However, a potential correction in 2025 looms due to the typical four-year Bitcoin halving cycle, although some experts suggest that large institutional players may mitigate a sharp downturn. "We are in a Bitcoin supercycle," stated Alex Kruger, economist and founder of Asgard Markets. "This could mean smaller corrections instead of drastic downturns."

The Federal Reserve’s stance on interest rates could also impact Bitcoin's growth. Slower rate cuts may make Treasuries more attractive, putting pressure on Bitcoin prices.

While Bitcoin has dominated the market, the fate of altcoins remains uncertain. Despite growing institutional interest in non-Bitcoin assets like XRP, Bitcoin’s dominance continues to rise. "Historically, Bitcoin dominance has been cyclical," said Seth Ginns, Managing Partner at CoinFund. "Once Bitcoin surpasses its all-time high, we expect a shift towards altcoins, as we saw in previous cycles."
 

Bitcoin gains as US SEC gives crypto its first policy win​

NEW YORK/SINGAPORE/PARIS, Jan 21 (Reuters) - Bitcoin, the world's largest cryptocurrency, approached the previous session's record high on Tuesday in choppy trading as the top U.S. markets regulator unveiled a plan to overhaul rules for the sector.

Bitcoin hit a record high $109,071 on Monday when Trump, who has pledged to be a "crypto president," was sworn in, but sank when crypto was not included in a flurry of on Day One.

Bitcoin prices rose 3.8% while Ethereum , the second-largest cryptocurrency, gained 1.4% as the market shook off some of that disappointment.

The Securities and Exchange Commission's new leadership said on Tuesday it had created a task force to develop a regulatory framework for digital assets, the first major move by Trump's new administration to overhaul crypto policy.

"The president has moved quickly on his agenda," Coinbase Chief Legal Officer Paul Grewal said in a phone interview. "The SEC has made it clear they understand that and want to be a part of that."

Some analysts warned, however, of volatility until Trump's administration starts to announce concrete policies long hoped for by the crypto industry.

"The digital asset market is disappointed to not have been mentioned in the inauguration speech or Day One executive orders," said Geoffrey Kendrick, global head of digital assets research at Standard Chartered.

"I suspect Bitcoin will end up going lower so long as we get no news from Trump on digital assets. A break back below $100,000 seems inevitable."

Trump's own $TRUMP-branded "meme coin," launched on Friday evening, fell on Tuesday, according to cryptocurrency price tracker CoinMarketCap.

World Liberty Financial, a separate Trump-linked crypto project, also said on Monday it had completed an initial token sale, raising $300 million, and that it would issue additional tokens. Trump has pledged to hand management of his assets to his children, but ethics experts have criticized his crypto ventures as raising conflict of interest issues and stoking speculation in a volatile asset class.

Acting SEC Chair Mark Uyeda's office said on Tuesday the agency's new task force would help to draw clear regulatory lines, provide paths to registration, craft disclosure frameworks and deploy enforcement resources.

Source: Reuters
 
I have returned to crypto world after almost 12 years. I see it has changed a lot.

For now, focusing on XRP/Ripple, Bitcoin, Shiba Inu, and Mog Coin. Mog Coin is an outlier ($0.00000104 currently); I am just giving it a try.
 
Cryptocurrency theft of £1.1bn could be biggest ever

Cryptocurrency firm Bybit said hackers stole $1.5bn (£1.1bn) worth of digital currency in what could be the biggest crypto theft in history.

The Dubai-based company's founder told users that their funds were "safe" and that it would refund any of those affected.

It said hackers stole from its Ethereum coin digital wallet. Ethereum is the second largest cryptocurrency by value after Bitcoin.

Bybit's founder Ben Zhou said the money could be covered by the firm or by a loan from partners. Bybit holds $20bn (£15bn) in assets.

Bybit said the hackers exploited security features, then transferred the money to an unidentified address.

After the theft, the value of Ethereum fell by around 4% on Friday, leaving it worth $2,641.41 (£2,090) per coin.

The scale of the theft would exceed a previous record, which was a $620m (£490m) heist of Ethereum and USD Coin from the Ronin Network in 2022.

Bybit was founded in 2018. US President Donald Trump and former Paypal chief Peter Thiel were reportedly among its early investors.

Bybit says it has more than 60 million users worldwide and offers access to various cryptocurrencies.

"Bybit is solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss," Mr Zhou added.

The company said in a post on X that it had reported the case to authorities and that it was working "quickly and extensively" to identify the hackers.

Cryptocurrencies, which have become popular with investors, have sparked division as many criticise their value for being based purely on speculation, allowing their value to be easily manipulated.

Most recently, Donald Trump has been criticised for launching his own digital coin while saying he "doesn't know much" about the cryptocurrency.

The digital coin called TRUMP appeared on his social media accounts ahead of his inauguration and quickly became one of the most valuable crypto coins, but has since fallen significantly in value.

It highlights security concerns within the digital currency market, which was hoping for renewed trust after Mr Trump launched his coin. His adviser and and multi-billionaire owner of Tesla, Elon Musk, has also in the past talked up Bitcoin.

In 2014, crypto exchange Mt Gox filed for bankruptcy after $350m (£210m) worth of digital currency had been stolen due to a loophole in its security.

BBC
 
Waqar Zaka’s prediction comes true as bitcoin crashes below $80,000

Pakistani cryptocurrency expert Waqar Zaka’s warning about an impending Bitcoin crash has proven accurate, as the leading digital asset plunged below $80,000 on Friday.

The broader crypto market saw a massive selloff, wiping out $1 trillion and raising fears of a prolonged downturn.

Waqar Zaka, who has long been an advocate for cryptocurrency in Pakistan, had cautioned investors in December 2024, stating that not everyone could become rich through crypto trading.

In one of his videos, he warned traders against blindly investing their life savings.

He urged investors to study market trends carefully and make informed decisions.

Bitcoin’s latest crash marks a nearly 25% decline from its all-time high of nearly $110,000 in December. The downturn follows a week-long rout in the crypto market, with Bitcoin hitting a three-month low.

The cryptocurrency had initially surged after US President Donald Trump’s election victory in November, as he was perceived as a pro-crypto leader. However, market sentiment has shifted amid concerns over Trump’s proposed tariffs, economic uncertainties, and global conflicts, including the Russia-Ukraine war and Israel’s military actions.


 
Crypto prices rally after Trump backs five coins for 'crypto reserve'

US President Donald Trump has revealed the names of five cryptocurrencies that he says he'd like to be included in a new strategic reserve to make the US "the Crypto Capital of the World".

The market prices of the five coins he named - Bitcoin, Ethereum, XRP, Solana and Cardano - all swiftly jumped after the announcement.

During Trump's presidential campaign, he aggressively courted the crypto community. The previous US president, Joe Biden, had overseen a crackdown on crypto due to concerns about fraud and money laundering.

It is unclear how the new stockpile will work. More information is expected on Friday, when Trump plans to host the first Crypto Summit at the White House.

In a social media post on Sunday, Trump said he had signed an order which "directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA".

About an hour later he added in another post: "And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve."

The first three coins he named jumped by up to 62% on Sunday.

Bitcoin and Ethereum also jumped by more than 10% each.

The posts marked a new upward turn for crypto prices, which had dropped sharply since spiking after his election.

Shortly after taking office in January, Trump signed an executive to create a presidential working group tasked with proposing new crypto laws and regulations.

The order called on the group to "evaluate the potential creation and maintenance of a national digital asset stockpile" that could use "cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts".

It is unclear whether creating a new national strategic stockpile would require an act of Congress.

Trump had previously been a crypto critic, telling Fox News in 2021 that Bitcoin is a "scam".

But in recent weeks, both he and his wife Melania Trump have launched their own cryptocurrencies, leading to accusations that they are trying to profit from his White House policies.

BBC
 
Binance ex-CEO warns 95% of crypto investors won’t survive

Changpeng Zhao (CZ), the former CEO of Binance, has made a forecast for the crypto world, suggesting that just a tiny percentage will succeed in the long run.

On March 17, CZ responded to an X post by EmperorBTC, a crypto influencer on X, who analyzed the psychology of actors in the crypto market and claimed that the overwhelming majority are not equipped to handle it. EmperorBTC said, "The bar to succeed in crypto is very low."

EmperorBTC explained that 80% of crypto investors are "tourists" who enter the market based on news dynamics and leave when sentiment changes. Over 10% make trade decisions based on "foolish influencers."

He added that 5% are just posing to be wealthy, leaving only 5% who understand cryptocurrencies.

CZ noted that even if there are 5% who actually are insiders in the crypto space, most of them cannot beat Bitcoin anyway.

According to CZ, among the 5%, only 4% trade or allocate capital toward blockchain projects, yet they fail to outperform buy-and-hold Bitcoin.

By comparison, long-term Bitcoin holders exceed 99% of all crypto market participants and outperform most traditional asset classes without breaking a sweat, he said. At the same time, though, he said climbing to the top 1% of crypto takes an "extraordinary effort," work, and knowledge of the market.

CZ said, “4% actively trade or work on projects but won't outperform Bitcoin. Holding BTC surpasses 99% of crypto participants and other asset types, by doing practically nothing.”

CZ's comments come as Bitcoin is trading at $82,930, with the resistance at $85,000, amid record outflows for the digital asset sector.

Source: https://finance.yahoo.com/news/binance-ex-ceo-warns-95-170304834.html.
 
My current crypto holdings:

  1. BTC
  2. Solana
  3. Cosmos
  4. XRP
  5. Polkadot
  6. ETH
  7. Avalanche
  8. Shiba Inu
  9. Bonk
  10. Litecoin
  11. Polygon
  12. Dogecoin
  13. Tezos
  14. Cardano
  15. Mog Coin
======================

From this list:

- I have high expectations from Bitcoin.

- I have moderate expectations from ETH, Solana, XRP, Litecoin, Dogecoin, and Cardano.

- I have low expectations from Mog Coin, Tezos, Polygon, Bonk, Shiba Inu, Avalanche, Polkadot, and Cosmos.
 
Etherium has sunk below 1500 USD.

BITCOIN is around 75k

Could be a perfect opportunity to buy in, could decrease further.
 
My current crypto holdings:

  1. BTC
  2. Solana
  3. Cosmos
  4. XRP
  5. Polkadot
  6. ETH
  7. Avalanche
  8. Shiba Inu
  9. Bonk
  10. Litecoin
  11. Polygon
  12. Dogecoin
  13. Tezos
  14. Cardano
  15. Mog Coin
======================

From this list:

- I have high expectations from Bitcoin.

- I have moderate expectations from ETH, Solana, XRP, Litecoin, Dogecoin, and Cardano.

- I have low expectations from Mog Coin, Tezos, Polygon, Bonk, Shiba Inu, Avalanche, Polkadot, and Cosmos.
How is your portfolio doing these days? :inti
 
Govt allocates 2000MW electricity for Bitcoin mining

The government of Pakistan has allocated two thousand Megawatts of electricity for Bitcoin Mining and Artificial Intelligence Data Centers.

According to Finance Division, the ambitious initiative is part of a broader strategy to monetize surplus electricity, create high-tech jobs, attract billions of dollars in Foreign Direct Investment, and generate billions of dollars for the government.

In a statement, Finance Minister Senator Muhammad Aurangzeb said the strategic allocation marks a pivotal moment in Pakistan’s digital transformation journey, unlocking economic potential by turning excess energy into innovation, investment, and international revenue.

Highlighting the transformative nature of initiative, CEO of the Pakistan Crypto Council Bilal Bin Saqib said that with proper regulation, transparency, and international collaboration, Pakistan can become a global crypto and AI powerhouse.

He said this energy-backed digital transformation not only unlocks high-value investment, but enables the government to generate foreign exchange in US Dollar through Bitcoin mining.

Bilal Bin Saqib said Pakistan can accumulate Bitcoin directly into a national wallet, marking a monumental shift from selling power in Pakistani Rupees to leveraging digital assets for economic stability.


 
Pakistan is establishing ‘Strategic Bitcoin Reserve,’ says PM’s aide on crypto

Prime Minister’s Special Assistant on Crypto and Blockchain and CEO of the Pakistan Crypto Council, Bilal bin Saqib, said on Thursday that Pakistan is making important strides in the crypto domain in which India is lacking traction.

Bilal further stated that Pakistan is not only experimenting with cryptocurrency but has entered the field with full commitment. With the government's support, a “Strategic Bitcoin Reserve” is being established, he added.

What makes the situation even more interesting is that Pakistan created its reserve just three months after the United States announced a similar initiative, Bilal said. In contrast, India is still merely making promises about discussions on crypto.


 
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