GM citronauts. The crypto market's looking zesty today – time to pick the juiciest bits of market intel.
🚨 Trump family members' social media hacked to promote fake crypto, generating $1.37M in volume. A new Solana scam uses "Permanent Delegate" to burn tokens after purchase.
🍊 News drops: MATIC becomes POL token, Pro-XRP lawyer challenges crypto antagonist Warren + more
🍍 Market flavor today
|
| Crypto Market Cap $2.08 Trillion -5.2% (24H) | |||
| Name | Price | 24H % | 7D % |
|---|---|---|---|
 Bitcoin BTC |
$56,499.09 | -3.13% | -5.28% |
 Ethereum ETH |
$2,407.78 | -2.33% | -3.87% |
 BNB BNB |
$500.79 | -4.76% | -7.09% |
 Solana SOL |
$129.71 | -1.50% | -11.35% |
| Prices as of 10:17 AM EST. Click here to see live data. |
The crypto market remains chilly, with the Fear and Greed Index holding steady at 27. This cautious sentiment persists as Bitcoin and other major cryptocurrencies continue to see red, echoing weakness in the broader stock market. What's keeping the mood so frosty? It's a cocktail of factors - ongoing profit-taking, selling pressure, and nervousness spilling over from traditional finance, with recent outflows from Bitcoin ETFs adding another layer of ice to this financial freezer.
But don't bundle up for crypto winter just yet! September might be giving us the cold shoulder, but October and November have a habit of turning up the heat 🔥
💰 Something old, something new, something stolen
Time for a quick pop quiz! Fill in the blank: The social media account of ____ has been hacked to promote a crypto scam. Hint: insert the name of any celeb, and you’ll probably ace this one.
Today’s answer? None other than Donald Trump’s daughter and daughter-in-law, Tiffany and Lara Trump.
Their X accounts suddenly started posting about a Solana-based memecoin, WL, which was supposedly linked to World Liberty Financial, an upcoming DeFi project from the Trump fam.
Considering Donald’s recent crypto-related projects, like Bitcoin sneakers and an NFT collection, a memecoin wouldn’t be so out of the blue. At the same time, he has previously denied plans to launch or endorse any memecoins, so this whole thing was looking sus.
And rightfully so. The official World Liberty Financial Telegram group quickly jumped in, warning everyone that hackers were behind the posts and advising them not to click any links.
But it seems like not everyone got the memo, as the coin still hit $1.37M in trading volume before the posts were deleted. However, after Donald’s son, Eric Trump, confirmed it was a scam, that volume took a nosedive.
As much as we do feel bad for those who fell for this, these old tactics are getting kinda boring. And seems like some scammers are getting bored of them, too—a new scam trend that’s been going on involves burning tokens right after you buy them.
POV: you swap for a token → the wallet history confirms you received it → you look inside → nothing shows up.
POV for those of you who prefer pictures: 😎 → 🙂🕶🤏 → 😐
How in the world can they do that? Some Solana-based tokens use the “Permanent Delegate” extension, which gives a designated address complete control over the token supply. With this extension, the address can burn or transfer any token from any token account of that mint.
“Permanent Delegate” has some legit uses, like fixing token transfers or managing compliance. But, obviously, it can also be misused. Except, why would a scammer want to burn tokens, not steal them? A couple of reasons:
- To be petty 💅;
- To manipulate the token supply (less supply = people can’t sell = the price won’t drop).
To fight back, platforms like Jupiter and Rugcheck are adding alerts to let you know when a token has this risky extension.
But at the end of the day, the best protection is staying sharp and ALWAYS double-checking.
📰 News drops
🆕 Polygon's MATIC token has transitioned to the Polygon Ecosystem Token (POL) on a 1:1 basis. POL is now the network's primary gas and staking token.
🇺🇸 Pro-XRP attorney John Deaton has won the Republican nomination for the US Senate in Massachusetts. He’ll face Senator Elizabeth Warren, a known crypto antagonist, in the upcoming election.
🚫 Starlink confirmed it’ll block access to X in Brazil. This comes after Supreme Court Judge Alexandre de Moraes ordered a ban on the platform after Musk refused to name a legal representative for it in Brazil.
📉 The US Department of Justice has subpoenaed Nvidia as part of an investigation into potential antitrust violations. As a result, the company experienced the biggest single-day stock drop in US market history, wiping out $278B from its market cap.
⚽️ BlockDAG signed sponsorship deals with two major European soccer clubs: Italy's Inter Milan and Germany's Borussia Dortmund. "This collaboration not only elevates our brand but also positions us at the forefront of blockchain adoption in mainstream sports," said BlockDAG’s CEO Antony Turner.
🍫 Scottish prosecutors seized over $140K in Bitcoin from a robbery involving three men, armed with a machete and a Toblerone chocolate bar, who broke into a home near Glasgow. It was Scotland’s first crypto-related robbery.
🍌 Juicy memes
|
|
