A report by investment firm Alto found that 40% of American millennials (those between the ages of 2 and 41) own cryptocurrencies. A roughly similar percentage of respondents, according to the I study, owns individual shares. The study found that many U.S. millennials are UU. those who used mutual funds had part of their wealth invested in cryptocurrencies.
70% of HODLers have digital assets in their retirement accounts (IRAs). Moreover, the majority of Americans in that age group who do not currently own cryptocurrencies are considering doing so shortly.
In the USA. UU., young people are not only confident in cryptocurrencies, but most of them also own virtual digital assets. In addition, several people in the aforementioned age range are interested in buying cryptocurrencies as part of their retirement plans.
Singapore cryptocurrency exchange freezes withdrawals
Crypto-contagion claims another victim. In a release, Singapore-based cryptocurrency exchange Vauld has made the “difficult decision to suspend all withdrawals, trades and deposits on the Vauld platform with immediate effect.”
In what appears to be a run on the crypto bank, the group intends to “apply to the Singapore courts for a moratorium,” as Vauld’s clients have attempted to withdraw an “excess of USD 197.7 million since June 12, 2022.”
The decision to suspend withdrawals is a 180-degree turn. Apparently, Vauld boasted of having a billion dollars in assets under management in May of this year. While on June 16, an email from the company stated that the business would “continue to operate as usual.” Just 18 days later, the company is exploring “possible restructuring options.”
Cryptocurrency scammers hacked the social media accounts of the British army
The official Twitter, Facebook and YouTube accounts of the British Army were breached on Sunday for almost four hours. The scammers who promoted non-fungible token (NFT) cashes and cryptocurrency scams.
Just after 2:00 pm EST on Sunday, the UK Ministry of Defense (MOD) Press Office tweeted that it was aware that the Army’s social media accounts were compromised and that an investigation had begun.
Nearly four hours later, at about 5:45 pm EST, the Office provided an update that the account violations had been resolved. The British Army’s official Twitter account also apologized for the posts, saying it would conduct an investigation and “learn from this incident.”
The closure of Peter Schiff’s bank reinforces Bitcoin’s arguments for financial freedom
Popular economist Peter Schiff, who is well known in the community for his anti-cryptocurrency stance, saw his bank shut down by Puerto Rico regulators. The revelation, however, prompted the cryptocurrency enthusiast community on Twitter to point out the “irony” as Schiff’s prediction for Bitcoin (BTC) came true for his own traditional bank.
Puerto Rico regulators shut down Schiff’s bank for failing to maintain minimum net capital requirements, further impacting customers. Well, they lost access to their accounts after a subsequent block.
Bitcoin podcaster Stephan Livera also weighed in on the development by saying, “He’s been a Bitcoin skeptic since $17.50.” The sudden closure of Schiff’s bank in Puerto Rico reignited discussions surrounding Bitcoin’s resistance to judicial supremacy.