Trader Top 9: Dogecoin Co-Creator Says Crypto is a "Scam"

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Another week has passed and bitcoin continues to trade in the low 30k range.  Fortunately, despite the lull in the market, the news continued to roll in.  Consumer prices rose 5.4% over the last year, the largest increase since 2008.  FTX made a big splash at the Major League Baseball All-Star Game.  And Jackson Palmer, the co-creator of Dogecoin, says crypto is a scam that helps the rich get richer.  Those are just a few of the stories in this week's Trader Top 9!

9. The U.K. has decided to spend £11 million to warn all its vulnerable young citizens about the dangers of crypto.  Is that really the best use of taxpayer money?

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8. Another week, another call for increased regulation.  Stablecoins are the targets this time.

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7. Jackson Palmer, the co-creator of Dogecoin, says that crypto is a scam designed to help the rich get richer through several nefarious methods.  Did Palmer sell his DOGE too soon?

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6. Inflation reared its ugly head again as consumer prices jumped by 5.4% over the last year.  But is this just all part of the playbook?

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5. Larry Fink, the CEO of BlackRock, acknowledged that savers are getting hurt in the current macro environment.  Owning assets is the key to doing well right now.  No wonder BlackRock is "dabbling" in bitcoin.

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4. Saquon Barkley isn't the first professional athlete to announce he's getting paid in bitcoin.  But he might be the most famous.  

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3. Could FTX buy Goldman Sachs?  Probably not but the crypto exchange is extremely determined to make a long-lasting impact in the financial space.  It continues to pursue maximum exposure, this time through clever marketing at the MLB All-Star Game.

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2. Crypto might be in a bear market but you wouldn't know it by looking at the number of job openings in the industry.

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1. In 2014, a reddit poster predicted that bitcoin would eventually hit $50,000.  It was considered sensational at the time but here we are 7 years later.  What price will bitcoin be trading for in 2028?  Stop by our Telegram group and let us know.

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