NY Attorney General Warns About Investing in Crypto Market — Says It’s Extremely Unpredictable, Unstable

New York Attorney General Letitia James has issued a warning about investing in cryptocurrency. She said the crypto market is “extremely unpredictable” and “unstable,” noting that the market “reached record lows” last month.

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NY Attorney General Warns About Cryptocurrency

New York Attorney General Letitia James issued a warning about investing in cryptocurrencies Thursday. The official Twitter account of the New York Attorney General’s Office tweeted:

The cryptocurrency market is extremely unpredictable. Just last month, the market reached record lows and investors lost hundreds of billions.

James added: “New Yorkers should be cautious and think twice before putting their hard-earned money into this unstable market.”

Eelmisel aastal, James Lülita välja cryptocurrency trading platform Coinseed. She also took action against two crypto lending platforms.

The New York attorney general’s warning followed weeks of cryptocurrency sell-off. Kuid, many people on Twitter disputed her claim that the crypto market reached record lows last month. Kirjutamise ajal, bitcoin is trading at $30,505.32, up over 3% in the past seven days but down 21% üle mineviku 30 päevadel.

Several countries have also warned about investing in cryptocurrencies following the crypto market sell-off. Lisaks, cryptocurrency terra (LUNA) and stablecoin terrausd (UST) collapsed in May, losing almost all of their values.

Following the collapse of the two cryptocurrencies, the chairman of the U.S. Väärtpaberi- ja börsikomisjon (SEC), Gary Gensler, warned that a lot of crypto tokens will fail.

See nädal, Singapore’s deputy prime minister advised retail investors to steer clear of cryptocurrencies. The governor of India’s central bank, the Reserve Bank of India (RBI), also issued a warning about cryptocurrency following the LUNA and UST catastrophe.

Bank of England Governor Andrew Bailey hoiatas last week that bitcoin has no intrinsic value and is not a practical means of payment.

Sildid selles loos

What do you think about New York Attorney General Letitia James’ warning? Andke meile teada allpool olevas kommentaaride jaotises.

Kevin Helms

Austria majandusteaduse tudeng, Kevin leidis Bitcoini 2011 ja on sellest ajast peale olnud evangelist. Tema huvid seisnevad Bitcoini turvalisuses, avatud lähtekoodiga süsteemid, võrguefektid ning majandusteaduse ja krüptograafia ristumiskoht.




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