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Tom Lee Says Crypto Not Keeping Up With Improving Fundamentals, Sees Precious Metals ‘Sucking the Oxygen’ out of the Room

Fundstrat Global Advisors managing partner Tom Lee says cryptocurrency prices are failing to reflect improving industry fundamentals as strong moves in gold and silver divert investor attention and capital. Speaking on CNBC’s Power Lunch, Lee says the crypto sector continues to feel the effects of a major deleveraging event that occurred on October 10, which he says “crippled many of the key players in the industry,” including exchanges and market makers. That sell-off wa...

Fraudster Extracts $500,000 Life Savings of Man Looking To Retire in Pig Butchering Scheme – ‘They Keep You So Engaged’: Report

An elderly man from Santa Rosa, California looking to retire has reportedly lost his life savings after falling victim to a pig-butchering scam. According to a recent report from The Star, a 70-year-old man who wishes to remain anonymous lost his life savings of $500,000 after becoming the victim of a months-long pig-butchering scam. Pig-butchering schemes are when bad actors “fatten up” a victim by pretending to have an intimate relationship with them as a me...

Crypto Slides as Fed Holds Rates in Rarely Split Decision, Dimming Hopes for Cuts

The Federal Reserve held rates at 3.5% to 3.75% on April 29 in an 8-4 vote. Bitcoin briefly fell below US$75,000 (AU$108,000), while Ethereum, Solana and XRP touched two-week lows. Four dissents marked the most divided Fed policy vote since October 1992, according to Axios. Bitcoin (BTC) slipped below US$75,000 (AU$108K) after the Federal Reserve held rates at 3.5% to 3.75% in an 8-4 vote, with the rare split cooling hopes for fast cuts as inflation and leadership...