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The SoFi Credit Card was, in effect, the first crypto-earning rewards credit card to make it to the market, unveiling crypto as a redemption option in early May 2021. But the card no longer allows it, a SoFi representative confirmed to NerdWallet in January 2023. World cryptocurrency Simple is a crypto platform that aims to make cryptocurrency investing accessible for everyone. Rather than a bank, Simple is a regulated digital asset institution with a total focus on crypto.

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On Wednesday, the company Celcius became the third major crypto firm in two weeks to file for bankruptcy. This past week, I spoke with Andrew Chang to unpack what's behind this latest crypto crash. He's a crypto consultant, and former CEO of Paxos, a New York based financial firm and technology company. Best crypto platforms in Europe The dominoes tumbled from there. In the wake of Zhao’s chess move, FTX found itself having trouble paying out withdrawals to customers. Suddenly, a company once worth $32 billion was $8 billion in the hole. Zhao initially said Binance would buy FTX for scrap, but backed out once he got a look at the books. FTX was never a bank; customers will be lucky to get even a fraction of their money back in bankruptcy court over the next few years, and it seems possible that SBF will face serious legal repercussions.
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How To Report Cryptocurrency Scams

CoinMarketCap. “Binance Coin: BNB.” There's a new plan to regulate cryptocurrencies. Here's what you need to know Trendy investments are especially ripe for fraudsters so be aware there is a real risk of fraud. Scam artists prey upon the newness of an investment opportunity when there isn’t as much history about the product. It’s also easier to sell an investor on an “everyone is buying it” sales pitch when there’s a lot of buzz about a certain investment product. The pressure to buy the product right away mounts.

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The president’s new executive order is the government’s next step toward regulating crypto. Crypto Enforcement As a result, miners will be taxed not based on their profitability, but rather on how much energy they consume. There is no way around this tax, and the inevitable outcome might be a disturbing pattern of high-profile Bitcoin miner failures. Bitcoin miners are already having a tough go of it, and this new 30% tax might be a death knell for all but the biggest and most profitable mining operations.
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