Patrick Boyle On Finance The FBI had A Crypto Token!
Oct 12, 2024
Discover the FBI's surprising foray into crypto with their own token, NexFundAI, aimed at tackling fraud. Dive into the world of market makers, exploring their dual roles in traditional and cryptocurrency finance, and the controversies surrounding potential manipulation tactics. Unravel the curious case of 'Manny the Hitman,' blending humor and ethics in crypto practices. As legal battles unfold, the podcast also touches on the innovative use of tokens as salaries in small businesses, raising eyebrows and questions across the industry.
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Celebrity Crypto Involvement
- Celebrities used to endorse crypto tokens, NFTs, and exchanges.
- Now, they are launching their own meme coins, like Caitlyn Jenner and Iggy Azalea.
FBI's Crypto Sting
- The FBI created a crypto token called NexFund AI to investigate market manipulation.
- It traded for only nine hours, surpassing Rishi Sunak's short-lived NFT.
FBI's Investigative Tactics
- The FBI set up a fake company and token to catch crypto criminals.
- One defendant admitted to using bots for wash trading, which is illegal in securities markets.