The growing risk of financial fraud and money laundering in the cryptocurrency market has already gained attention from regulators around the world. In Hong Kong, the financial regulators including The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) are reviewing regulations that govern cryptocurrency transactions as there has been increasing adoption of virtual assets in mainstream finance5. Sign in to your account Time will tell if this project will justify its current valuation, but all facts considered, it looks increasingly hard to do so. Other red flags include a banner on their official website which says that Elon Musk was shilling it, when in fact, he responded to a Twitter thread related to the show and had nothing to do with the crypto project itself. Still, it’s easy to see how people might fall for it.
Many cryptocurrency observers had sounded the alarm about Squid even before the “rug pull,” citing warning signals such as social media accounts that did not allow followers or subscribers to comment and the amateurish white paper. CoinMarketCap, a data provider, had urged potential traders to take “extreme caution” after Squid buyers told the platform that their coins could not be sold. Why have I been blocked? Saddened to learn of the passing of the always entertaining & optimistic Bill Walton.What set Bill apart was his desire to not only learn about the basketball teams he was covering but also about the campuses he visited, and then telling those stories during his broadcast. pic.twitter.com/LRSDGUz3NW