0
📰 News
975 views

Altcoins Will Eventually Lose Liquidity and Disappear: Crypto Expert Anthony Pompliano

  • Yuri Molchan
    📰 News

    Crypto expert and investor Anthony Pompliano states that not far away is the day when hardly any altcoins will be left at all over lack of liquidity

Altcoins Will Eventually Lose Liquidity and Disappear: Crypto Expert Anthony Pompliano
Contents

The co-founder and a partner at the Morgan Creek Digital VC fund, expert at cryptocurrency investments, Anthony Pompliano, often referred to as ‘Pomp’, keeps giving the crypto community something to think about regarding crypto and its relations with the current financial system.

This time, he stated that it took just ten years for banks to admit that Bitcoin could potentially become a reserve currency, though not all central banks have taken up that attitude yet.

Goldman Sachs is working with cryptocurrency trading, JP Morgan has launched its own crypto – JPM Coin.

Altcoins will disappear, says Pomp

👉MUST READ

Ripple's Executive Showcases the Real Impact of MoneyGram Partnership

Ripple's Executive Showcases the Real Impact of MoneyGram Partnership

Discussing XRP and other altcoins

In the comment thread, users start asking Pompliano whether his forecast touches the second and the third biggest coins – ETH and XRP too.

XRP haters immediately rose their heads to say that XRP will certainly disappear, since it is centralized and is often manipulated by the Ripple team.

‘XRP is for banks and I don’t trust banks’ says the user.

One Twitter user even addressed the question about altcoins disappearing in the future to John McAfee by tagging him in the discussion. The ‘crypto baron’ often posts his opinions and forecasts regarding certain altcoins on his Twitter page.

Some made an assumption that apart from Bitcoin and Ethereum, Bitcoin Cash and the privacy-oriented Monero will survive.

John McAfee never responded to the invitation to join in on the talk.

Cover image via 123rf.com
Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

👓 Recommended articles
0
📰 News
279 views

Crypto Crime: 21-Year-Old Australian Woman Faces 53 Charges for Laundering Stolen Funds with Cryptocurrency

  • Alex Dovbnya
    📰 News

    Jasmine Vella-Arpaci, who was part of the major identity fraud ring, faces up to 53 charges after stealing millions of dollars

Crypto Crime: 21-Year-Old Australian Woman Faces 53 Charges for Laundering Stolen Funds with Cryptocurrency
Contents

On Sept. 17, Jasmine Vella-Arpaci, a 21-year-old woman from Australia, made her first court appearance after being accused of shipping millions of dollars with the help of crypto. The young mother has been charged with 53 counts of fraud and theft.

👉MUST READ

"Crypto Wizard" Arrested for Taking Part in $16 Mln Cryptocurrency Scam

A multi-million identity fraud

According to the Australian Securities and Investments Commission (ASIC),.the group of criminals, whose members referred to themselves as “Team Awesome,” would purchase stolen sensitive information on the dark web to open fake bank accounts in Australia. The funds were stolen from superannuation accounts and share-trading accounts of the gang’s unsuspecting victims.

The money was then transferred money to their accomplice in Hong Kong to trade expensive jewelry before sending it back home via cryptocurrencies.

Cybersecurity threats such as data breaches and financial system attacks are a major concern for ASIC and we will continue to pursue not only cyber-related market and superannuation offending but also the need for institutions to maintain their obligations to ensure they have adequate cyber resilience, says ASIC deputy chair Daniel Crennan

The investigation into the major crime syndicate continues with further arrests expected.

👉MUST READ

Canadian Police Shed Light on New Bitcoin ATM Scam

Canadian Police Shed Light on New Bitcoin ATM Scam

Crypto scams on the rise

As reported by U.Today, cryptocurrencies scams have grown by more than 200 percent in Australia in 2018 with victims losing about $6.1 mln.

In 2019, this number could be easily topped. Back in July, an elderly couple lost a whopping 900,000 to an elaborate crypto scam, thus wasting all their retirement savings.

Cover image via
Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings