Recover – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Thu, 11 Sep 2025 08:43:29 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Recover – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 The US is trying to recover $12 million in USDT related to crypto investment fraud https://earlybirdsinvest.com/the-us-is-trying-to-recover-12-million-in-usdt-related-to-crypto-investment-fraud/ https://earlybirdsinvest.com/the-us-is-trying-to-recover-12-million-in-usdt-related-to-crypto-investment-fraud/#respond Thu, 11 Sep 2025 08:43:28 +0000 https://earlybirdsinvest.com/the-us-is-trying-to-recover-12-million-in-usdt-related-to-crypto-investment-fraud/

Federal prosecutors in Albany are chasing more than $12 million USDT, They say it It was You are bound by crypto investment scams. They filed a civil forfeiture complaint in an attempt to retrieve the funds. This is another signal that authorities are dealing with crypto fraud like any other financial crime.

How the scam was unfolded

The scheme began with random text messages that promised profitable investment opportunities. These messages led victims to a fake trading platform called ShakePayex. That’s what the site was like I made it In It looks like It’s a real Canadian crypto exchange, but that wasn’t the case. Those who deposited their funds were hit with fake fees and obstacles when they tried to withdraw. Many people were told to deposit more before they could get their money back. Overall, more than $10 million has been released from unsuspecting users.

Discover: 9+ Best High Risk, High Reward Crypto Buy in September 2025

Cases for confiscation of citizens

The government uses citizen confiscation to recover stolen codes. This approach allows for the seizing of suspected crime-bound assets without a criminal conviction. It has become a reliable way to deal with crypto fraud cases. The idea is simple. They freeze the assets before they disappear and try to return them to their legitimate ownership.

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Part of a larger pattern

This is not the first time the Department of Justice has taken this route. Earlier this year, it filed a similar lawsuit, including $225 million in USDT in connection with pig slaughter fraud. It was the biggest USDT attack on record. In that case, law enforcement worked with Tether and blockchain analysts to track and freeze the funds. The same kind of teamwork is unfolding here again.

Discovery: Next 1000x Ciphers: 10+ Ciphers tokens that could hit 1000X in 2025

Confiscation of citizens for the victims

Citizens’ confiscation was primarily seen as a way for criminals to block the use of stolen money. It is now becoming a way to give victims a path to recovery. By quickly identifying and freezing suspicious wallets, staff can prevent stolen funds from being moved through the mixer or cashed out. If the court approves the forfeiture, those funds can ultimately be returned to those who lost them.

What’s coming next

The next step is for the court to determine whether the seized funds are clearly linked to illegal activities. If so, the government can take legal ownership of the property. It would open the door for victim compensation. The case also prepares for a wider effort to make the crypto market safer. Prosecutors want that strong Enforcement, combined with faster collaboration between platforms, prevents future fraud from becoming this big.

Discover: 20+ Next Cryptocurrency to Explode in 2025

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Key takeout

  • Federal prosecutors are seeking to collect more than $12 million on USDT tied to a fake crypto platform called ShakePayex.

  • Victims were seduced through random messages and began sending funds to scam sites that mimic actual exchanges.

  • The government uses civil forfeiture to freeze and reclaim assets even without a criminal conviction.

  • The case illustrates the growth patterns of how crypto fraud is handled following the confiscation of $225 million in USDT earlier this year.

  • Authorities hope that citizen confiscation will become a reliable way to help victims recover stolen funds from crypto-related fraud.

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Anthony Clark

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Anthony Clark’s crypto journey began in 2017 and was triggered by the discovery of Quora. After purchasing Bitcoin and Verge as his first cryptocurrency, he became deeply interested in the emerging world of blockchain technology. This made him start writing…Read more

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Is it possible to recover a private key from an aggregated public key under a strong assumption? https://earlybirdsinvest.com/is-it-possible-to-recover-a-private-key-from-an-aggregated-public-key-under-a-strong-assumption/ https://earlybirdsinvest.com/is-it-possible-to-recover-a-private-key-from-an-aggregated-public-key-under-a-strong-assumption/#respond Mon, 04 Aug 2025 17:45:22 +0000 https://earlybirdsinvest.com/is-it-possible-to-recover-a-private-key-from-an-aggregated-public-key-under-a-strong-assumption/

Consider the following assumption:

  1. The computer can calculate the private key from the public key n Year (and n to be a minority, give or take). Of course, this assumption is highly hypothetical and is currently considered unrealistic.

  2. The public key for multi-signature accounts is known. Here we assume they are not hashed or hidden. It also assumes that MUSIG2 is used for multi-signature accounts. This is expected to happen with Bitcoin if I’m not wrong. Moreover, MUSIG2 cannot be used with CISA. Because I only allow to pass a single message (please tell me if I’m wrong).

Now, as Assumption 2 is preserved, you can use Musig2 to aggregate a set of public keys and create a single aggregate public key. AggPub. As it is a valid X-only public key, there are exactly two corresponding private keys. Priv1 and Priv2,link AggPub. By knowing one of them, you can easily find out the other by negating the first private key.

From Assumption 1, can one of the private keys be calculated (Priv1 or Priv2) from AggPub At the same time, that is, n year? From my point of view, yes, it can.

Of course, Assumption 1 is too strong. However, if the answer to the question is yes, it suggests that signature compression here is not the best trade-off. In fact, this could even be misused by a zombie account using MUSIG2, and by performing a simple Schnorr signature, you can unlock dormant funds with a single private key.

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New Data Shows 4 in 10 Brits Never Recover Money Lost After Falling Victim to Scams https://earlybirdsinvest.com/new-data-shows-4-in-10-brits-never-recover-money-lost-after-falling-victim-to-scams/ https://earlybirdsinvest.com/new-data-shows-4-in-10-brits-never-recover-money-lost-after-falling-victim-to-scams/#respond Mon, 04 Aug 2025 07:49:53 +0000 https://earlybirdsinvest.com/new-data-shows-4-in-10-brits-never-recover-money-lost-after-falling-victim-to-scams/

40% of Brits who have been victims of frauds or scams in the last year haven’t been able to recover the money lost as a result, highlighting the urgent need for fraud-resistant payment methods, a new survey has revealed. 

As open banking emerges as a viable safeguard for merchants and financial institutions, research from Pay by Bank provider Yaspa shows consumers lose £765 on average to scams, with the average percentage of lost funds recovered sitting at 34%.

In the last 12 months, 16% of Brits who have experienced fraud or scams have lost between £250 and £500, while 1 in 10 have lost between £500 and £1000. Survey data revealed that the average financial loss for men was £943 – significantly higher than women, whose average came in at £476.

Younger people lost less on average, with 16-24 year olds losing an average of £284 in scams and fraudulent activity, while all other age groups lost between £750 and £900 on average. This could be in part due to younger people being more technologically savvy than their older counterparts, or that they would have less disposable income to part with. 

Financial losses were also higher in Northern Ireland, with the average amount of money lost due to fraud in the last 12 months being £2290, followed by the North East at £1337, Wales at £1285 and Greater London at £1151. 

 

The nationally representative survey found 35% of respondents were a victim of fraud in the last 12 months – an estimated equivalent of around 17.5 million people. Over half of Brits (54%) said they believe it is easier to scam people today than 5 years ago, compared to just 19% of respondents who disagreed and felt it is harder to do so, while 70% of respondents said they are concerned about them or a loved one becoming a victim of fraud in the next 12 months. 

According to the survey, it was online mediums that ranked the highest for the ‘most common’ occurrences of fraudulent activity, with online shopping scams, phishing emails, and Facebook Marketplace scams considered the most common according to respondents. 

Investment scams, AI or deep fake scams, and unlicensed gambling operators also ranked highly, with nearly a quarter of Brits (24%) stating they believe ticket buying for concerts and sporting events is the most common platform for fraudulent activity or scams.

When asked if the government and its agencies were doing enough to protect consumers from fraudulent activity, nearly 40% didn’t agree. Almost 1 in 2 (49%) shared that the primary responsibility for protecting consumers sits with the government, while 44% felt it should be the responsibility of banks and financial institutions. Just over a third (38%) believed responsibility should sit with the police, 37% said technology and social media companies, while 26% felt it lay with the individual. 

Nearly a third of those surveyed (33%) shared they felt the solution to tackle fraudulent activity was in improved technology for better detection. 

Highlighting Pay by Bank as an alternative technology to reduce the risk of financial loss as a result of fraud, Amie Kadhim from Yaspa shares: “Push payment fraud is one of the most damaging types of fraud today – and once the money’s gone, it’s rarely recovered. Scammers exploit the trust people place in bank transfers, highlighting the urgent need for better safeguards.

“With a background in card acquiring, I’ve seen how Pay by Bank offers a more secure alternative. Open banking, the technology behind it, moves money directly between accounts using strong customer authentication, without exposing sensitive card details or leaving gaps for fraudsters.

“With a third of respondents saying technology for fraud detection could be the best way to protect consumers against scams, other technological innovations in the payments sector could also be effective in fighting against these crimes.

As fraud tactics evolve, we must stay ahead with smarter and more secure technology – and help consumers understand which payment methods truly offer better protection. Pay by Bank does exactly that.”

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Satoshi vanishes for a second time as Swiss gallery offers 0.1 BTC to recover stolen statue https://earlybirdsinvest.com/satoshi-vanishes-for-a-second-time-as-swiss-gallery-offers-0-1-btc-to-recover-stolen-statue/ https://earlybirdsinvest.com/satoshi-vanishes-for-a-second-time-as-swiss-gallery-offers-0-1-btc-to-recover-stolen-statue/#respond Mon, 04 Aug 2025 04:17:32 +0000 https://earlybirdsinvest.com/satoshi-vanishes-for-a-second-time-as-swiss-gallery-offers-0-1-btc-to-recover-stolen-statue/

The Bitcoin art world has suffered a blow as the enigmatic statue of Bitcoin’s pseudonymous creator, Satoshi Nakamoto, has vanished from its current home in Lugano, Switzerland. The Satoshigallery, which curated and displayed the piece, has announced a reward of 0.1 BTC to anyone who can help recover the stolen statue, further deepening the mystery that shrouds both Satoshi Nakamoto and this distinctive work of art.

The Satoshigallery team took to X following the theft to offer a reward for its recovery and to reinforce its determination to place 21 Satoshi statues around the world. This mission is meant to echo Bitcoin’s 21 million coin limit, reinforcing the principles of scarcity, decentralization, and indestructibility. The gallery wrote:

“You can steal our symbol but you will never be able to steal our souls.”

Embodying the spirit of Satoshi Nakamoto

The statue was celebrated not just as a physical memorial, but for its conceptual brilliance. Designed to embody the spirit of Bitcoin’s elusive creator, the piece plays with perception and meaning, appearing invisible from the front, a clever nod to Nakamoto’s anonymity.

When viewed from the side, the form emerges, reminding viewers that Satoshi may be hidden, but always present within Bitcoin’s ethos, capturing how Nakamoto’s indelible impact remains at the very core of the crypto movement.

Support from the Bitcoin community

Messages of support have poured in from around the world, with members of the Bitcoin community expressing solidarity. For many, the statue is more than just art; it is a symbol of resilience, innovation, and the ongoing quest for financial sovereignty.

Tuur Demeester, Blockstream advisor and Bitcoin OG, commented:

“Very sad… Next one should maybe be in a few cubics of granite”

Founder of TIP Preston Pysh simply said:

“Even his statue disappears…”

As the search continues, the story of Satoshi (the person and the statue) reaffirms that some mysteries, in the digital age, only grow stronger with every attempt to erase them.

Anyone with information regarding the whereabouts of the statue of Satoshi Nakamoto is encouraged to contact the Satoshigallery team.

Mentioned in this article
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I found a list of 25 words on my mother’s old desk. Is there a way to know how to recover this? https://earlybirdsinvest.com/i-found-a-list-of-25-words-on-my-mothers-old-desk-is-there-a-way-to-know-how-to-recover-this/ https://earlybirdsinvest.com/i-found-a-list-of-25-words-on-my-mothers-old-desk-is-there-a-way-to-know-how-to-recover-this/#respond Tue, 22 Jul 2025 23:01:57 +0000 https://earlybirdsinvest.com/i-found-a-list-of-25-words-on-my-mothers-old-desk-is-there-a-way-to-know-how-to-recover-this/

I found a list of 25 English words (not my native language) on a white paper in my mother’s house. I won’t touch that desk for a long time, so this should be old.

I was looking for some information regarding 25 seed phrases, but there is no definitive anwser.

I found the BIP0039 dictionary, but the problem is that half of my words are not on this list.

Words like flute, salute, point, BIP0039.

I don’t know which coin it belongs. I’ve been waiting for a day to integrate the blockchain into my computer, and I’ve already tried the Bitcoin Core Wallet, but I have the seedphrase recovery option.

Are there other dictionaries where I can compare my lists? So can you guess the coins this wallet mentions too? What steps will you take to find it?

thank you very much.

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Trying to recover an old wallet using what you want to be a private key – need help https://earlybirdsinvest.com/trying-to-recover-an-old-wallet-using-what-you-want-to-be-a-private-key-need-help/ https://earlybirdsinvest.com/trying-to-recover-an-old-wallet-using-what-you-want-to-be-a-private-key-need-help/#respond Sun, 20 Jul 2025 07:56:10 +0000 https://earlybirdsinvest.com/trying-to-recover-an-old-wallet-using-what-you-want-to-be-a-private-key-need-help/

I know I was trying to buy Bitcoin from 2009 to early 2010. I moved far in the second half of 2010 and left my belongings with my family. Years passed and Bitcoin became precious, so I couldn’t remember if I actually found a way to buy from someone at the time, or if I had kept it if I had. But I always felt like I bought some.

I recently retrieved those items I had left and found an old external hard drive. The hard drive contains a folder named Crypto, created in September 2009. Within this folder there is another folder named RSA.

Within that RSA folder is another folder named S-1-5-21-1234567890-0987654321-1122334455-9999 (edited for this post). This folder has two UNIX executables, with file names in both this format: 1234567890ABCDEF1234567890ABCDEF_ABCD1234-5678-90AB-CDEF-1234567890ABABAB

Each file name (0-9 and AF) has 64 characters, which is the same as a private key. Additionally, the first 32 characters of each filename are unique, but the last 32 characters of each filename are the same as the other files. As you can see, there is an underscore after the first 32 characters in each filename, with some dashes within the last 32 characters.

Are these Bitcoin private keys? The parent folder was created in 2009 under the name Crypto, so I can’t imagine what else there are. I have tried subtracting the underscore except for each filename and then subtracting the dash to the popular wallet platform as a private key, but both show invalid keys. Then I tried to combine the first 32 characters of each and import it as a key, but again say it’s invalid key.

I’m confused. Any advice?

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Bybit Shuts Down Its NFT Marketplace As Crypto Sector Struggles To Recover https://earlybirdsinvest.com/bybit-shuts-down-its-nft-marketplace-as-crypto-sector-struggles-to-recover/ https://earlybirdsinvest.com/bybit-shuts-down-its-nft-marketplace-as-crypto-sector-struggles-to-recover/#respond Tue, 01 Apr 2025 23:02:53 +0000 https://earlybirdsinvest.com/bybit-shuts-down-its-nft-marketplace-as-crypto-sector-struggles-to-recover/

Cryptocurrency exchange Bybit announced Tuesday it will close its non-fungible token (NFT) marketplace on April 8 as the company refocuses on its core trading services.

The decision comes after a February security breach that cost the company $1.46 billion in stolen digital assets, which is believed to be the biggest known heist of all time.

Bybit has instructed users to transfer their NFTs to external wallets before the closure date to avoid potential losses.

The move comes during a broader cooling of the NFT market, with trading volumes declining significantly across major platforms in recent months.

However, many in the crypto industry are still bullish on NFTs.

Canary Capital filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a new NFT-focused exchange-traded fund (ETF) in late March.

The ETF would invest directly in Pudgy Penguins NFTs and PENGU, the project’s utility token, and it would also hold other crypto assets, like Ethereum (ETH) and Solana (SOL), that “are necessary or incidental to the purchase, sale and transfer” of those tokens, per the filing.

In December, Raoul Pal said that NFTs might flourish due to fiat currency debasement and the growing popularity of digital assets among younger generations.

Despite the NFT marketplace closure, Bybit reaffirmed its commitment to blockchain technology advancement, promising enhanced security protocols following the February breach.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

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Dogecoin Price Prediction: Here’s What Needs To Happen For DOGE To Recover Above $0.3 https://earlybirdsinvest.com/dogecoin-price-prediction-heres-what-needs-to-happen-for-doge-to-recover-above-0-3/ https://earlybirdsinvest.com/dogecoin-price-prediction-heres-what-needs-to-happen-for-doge-to-recover-above-0-3/#respond Thu, 27 Mar 2025 21:01:38 +0000 https://earlybirdsinvest.com/dogecoin-price-prediction-heres-what-needs-to-happen-for-doge-to-recover-above-0-3/

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Moein Haddadian, a TradingView crypto analyst, has unveiled a new Dogecoin price prediction, suggesting that a breakout is on the horizon. The analyst highlights key resistance levels that must be cleared before the popular meme coin experiences a price recovery above the $0.3 threshold. 

Dogecoin Price Faces Resistance On Path To Recovery

Dogecoin has been struggling to regain its upward momentum after trading within a clear downtrend for months now. However, the meme coin’s recent price action suggests that its current momentum may be shifting from bearish to bullish

According to Haddadian’s Dogecoin chart analysis, the meme coin recently broke above a descending trendline, signaling that sellers may be losing control. The analyst highlights the $0.25 price point as a critical resistance level for DOGE, indicating that a confirmed breakout above this point is crucial for bulls to establish dominance and solidify a bullish trend. 

If bulls manage to push the price beyond the resistance level and sustain the breakout, Haddadian expects DOGE to rise toward its next target of $0.30 – $0.334. This price level aligns with a previous supply/resistance zone, highlighted by the larger grey area in the analyst’s price chart. 

Dogecoin
Source: Haddadian on Tradingview

While an upside breakout for DOGE remains a possibility, the TradingView analyst reveals that this predicted rally can only occur if certain conditions are met. Dogecoin’s $0.16 support level plays an important role in its current bullish structure and its ability to reach the $0.334 target. 

Haddadian explains that if the meme coin fails to hold above the support level, the projected bullish scenario could be invalidated, and its price may decline further toward $0.122 or $0.113. Based on the analyst‘s chart, the ideal setup for a sustained recovery for Dogecoin would be to experience a brief consolidation above $0.205 before a breakout rally. 

Once Dogecoin crosses its previous resistance level between $0.30 and $0.334, Haddadian predicts that the meme coin could skyrocket to a price high of $0.484. On the flip side, a breakdown below the support level at $0.113 could push Dogecoin’s price as low as $0.08, completely canceling the analyst’s bullish outlook. 

DOGE To Enter New Bullish Phase

Crypto analyst Ali Martinez has shared a price chart featuring a SuperTrend indicator, which suggests that DOGE is about to enter its next bullish phase. The grey-shaded area on the chart represents the SuperTrend resistance zone at $0.21, which Dogecoin has remained below throughout its downtrend.

With its price currently sitting at $0.19, Martinez predicts that a breakout and close above the $0.21 resistance could turn Dogecoin’s price action bullish. On the downside, failure to break this key level could lead to a continued bearish or sideways movement.

Dogecoin
DOGE trading at $0.19 on the 1D chart | Source: DOGEUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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Are Solana’s transactions mostly bot-driven? When will Sol recover? https://earlybirdsinvest.com/are-solanas-transactions-mostly-bot-driven-when-will-sol-recover/ https://earlybirdsinvest.com/are-solanas-transactions-mostly-bot-driven-when-will-sol-recover/#respond Tue, 11 Mar 2025 15:09:32 +0000 https://earlybirdsinvest.com/are-solanas-transactions-mostly-bot-driven-when-will-sol-recover/ Cryptocurrency sales continue, with top altcoins like Bitcoin, Ethereum and Solana feeling heated. Sol Holders has already set out, cashed out and encouraged sales towards a $100 psychological level.

Amid this development and rapid optimism, Most of Solana’s transactions are one of the coins that Coin analysts say will explode in 2025.After all, it could be bot-driven.

Are most Solana transactions fake?

One observer in a post shared on X It’s attracting attention That on-chain activity in Solana may not be as organic as it looks It will be driven By aggressive bots.

This observation raises questions about the credibility of popular on-chain activities. Smart Possible impacts on contract networks and network health.

His findings point out that 122 unique addresses are responsible for posting at least 100,000 transactions in the past week alone. Compared to other addresses, these small numbers of accounts contribute an astounding 44.2% of all transactions on modern chains.

image

(sauce)

There are only a few addresses responsible Almost half of all transactions on a busy network are otherwise suspicious, suggesting possible attempts to operate. Usually, all public ledger activities and health It will be judged Depending on the address posted and the number of transactions.

If there are more transactions, validators running to protect the platform will be paid, thus investing more to enhance security and keep up with increasing demand. However, if the transaction starts to fall, the user can ask Alternatives can have a negative impact on prices.

Falling Meme Coin Activity Avoid Sol Price

price
Market capitalization





Following Sol Price and Meme Coin Activity, trading activity and volume will be curtailed. At its peak, Solana posted daily deals of hundreds, if not millions When a trader scrambles to choose the next PNUT or the best meme coin to trade.

That was the same during this time usually Speculators attack big, earn 100 times more profits and burn millions from small investments. this It’s changing as fewer meme coins are now It will start upand speculators are tightening their wallets and expecting more losses and lower activity as crypto prices drop.

In some examples promoted by world leaders, famous scams and ragpur erode trust in Solana and its popular meme coin launchpad. pump.fun.

(sauce)

The scalable nature of Solana and the ability to post transactions allow bots to deploy and manipulate truth Level of on-chain engagement.

Unlike Ethereum, users transfer coins, post contracts with chains, and pay only a small portion of their fees. This may increase activity, but it is a double-edged sword, as it turns the chain into a hub of bots, inflates the network, manipulating trading volumes, for example, via wash trading.

Most of these bots are used to exploit high frequency trading, arbitrage opportunities. Snipe some of the best meme coins to buy in 2025.

Key takeout

  • Solana is a popular chain that powers meme coins

  • Is the responsibility on-chain for most transactions?

  • Meme Activities Falling on Solana

Are posts primarily bot-driven Solana transactions? When will Sol recover? It first appeared in 99 Bitcoin.

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JPMorgan Chase, Wells Fargo and Bank of America Lose $5,188,000,000 in Three Months After Exhausting Efforts To Recover Cash From Customers https://earlybirdsinvest.com/jpmorgan-chase-wells-fargo-and-bank-of-america-lose-5188000000-in-three-months-after-exhausting-efforts-to-recover-cash-from-customers/ https://earlybirdsinvest.com/jpmorgan-chase-wells-fargo-and-bank-of-america-lose-5188000000-in-three-months-after-exhausting-efforts-to-recover-cash-from-customers/#respond Sat, 22 Feb 2025 02:07:31 +0000 https://earlybirdsinvest.com/jpmorgan-chase-wells-fargo-and-bank-of-america-lose-5188000000-in-three-months-after-exhausting-efforts-to-recover-cash-from-customers/

JPMorgan Chase, Wells Fargo and Bank of America say they’ve lost $5.188 billion from customers who have been declared unable to pay their bills.

The banks outlined the Q4 losses in “net charge-offs” statements, revealing loans that the banks have declared as uncollectible and removed from their books after exhausting efforts to recover the owed amounts.

JPMorgan Chase reported the highest charge-offs at $2.4 billion, driven largely by customers with big unpaid balances on their credit cards.

Bank of America recorded $1.5 billion in charge-offs, also primarily from its credit card portfolio.

And Wells Fargo reported $1.288 billion in charge-offs, fueled by higher credit card losses and commercial real estate losses in its office portfolio.

The new numbers come as US credit card debt hits a record $1.21 trillion, according to new numbers from the Federal Reserve Bank of New York.

The collective losses at the three banks represent a $188 million increase over the previous quarter, and a $460 million increase from one year ago.

Despite the losses, the banks reported major earnings in Q4, with JPMorgan Chase declaring $14 billion in profits, Bank of America reporting $6.7 billion and Wells Fargo coming in at $5.1 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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