In this week’s episode of The Market Report, Cointelegraph’s resident experts discuss pump and dump ChatGPT tokens and why you should be careful.
This week on The Market Report, Cointelegraph’s resident experts discuss dozens of pump-and-dump tokens allegedly related to ChatGPT and Bing’s AI chat.
We’re going to do things a little differently this week, as our friendly and charming host Joe Hall will be somewhere across the Atlantic during the live broadcast and won’t be able to join. Not to worry, though, because as always, our resident experts Marcel Pechman and Sam Bourgi are here to break down the latest news from the markets.
Bitcoin Bulls Ignore Recent Regulatory FUD Aim to Invest $25,000 in Support
The New York State Department of Financial Services has ordered Paxos to “halt mining” Binance issued Paxos USD
BUSD
tickers down
$1.00
stable currency pegged to the dollar. On February 16, a bank account controlled by Binance.US transferred more than $400 million to the trading company Merit Peak, which is said to be an independent entity also controlled by Binance CEO Changpeng Zhao. This and other bad news on the Bitcoin crypto market seems undeterred
BTC
tickers down
$26,348
earn 15% from February 13th. Both retail and professional traders are indeed showing signs of confidence. We explain why this is so and why the odds favor the continuation of the current rally.
BingChatGPT “bomb and dump” tokens appear by the dozen: PeckShield
Blockchain security firm PeckShield raised the alarm after finding dozens of tokens allegedly related to the artificial intelligence (AI)-powered ChatGPT chatbot. Some of these tokens have already lost most, if not all, of their value in a scheme often referred to as “bomb and dump” or “carpet pulling”. A pump-and-dump scheme usually involves the creators organizing a campaign introducing statements and hype to convince investors to buy tokens, and then secretly selling their stake in the system when prices rise. You might find it interesting to look at the testimonials allegedly related to the recent hype surrounding Bing’s AI chat and ChatGPT, but we’re here to tell you to be careful when getting involved financially with either of them. We also explain some basic ways to protect yourself from these scams.
Active Bitcoin Addresses ‘Feared’ Analyst Despite 50% Rise in BTC Price
Research warns that Bitcoin still lacks the on-chain volume and active address growth that characterize bull markets. In a candid assessment of the BTC price spike in 2023, on-chain analytics platform CryptoQuant has warned that Bitcoin may be weaker than it appears. Many analysts seem to be worried about the market’s recent bullish trend, and we’re here to explain why.
Our experts cover these and other development stories, so be sure to tune in to keep up with the latest in the cryptocurrency world.
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