Mike Novogratz Predicts Harris May Soon Embrace Crypto, Grayscale Bitcoin Trust Experiences Drop, FBI Warns Of Crypto Exchange Impersonation Scams And More: This Week In Cryptocurrency

The week was a whirlwind of activity in the cryptocurrency world. From political figures like Donald Trump and Kamala Harris making waves, to economists like Peter Schiff questioning Bitcoin strategies, and even the FBI issuing alerts on crypto scams. Let’s dive into the details of these intriguing stories.

Novogratz Predicts Harris May Soon Embrace Crypto

Galaxy CEO Mike Novogratz has suggested that Vice President Kamala Harris could soon show support for the cryptocurrency industry, following Donald Trump’s recent pro-crypto stance. Trump made headlines at the Bitcoin 2024 conference last week, pledging to retain all Bitcoin held or acquired by the US government if reelected. Harris, who is expected to challenge Trump in the upcoming election, has yet to reveal her position on cryptocurrencies. Read the full article here.

Schiff Challenges Trump and Saylor’s Bitcoin Strategy

Renowned economist Peter Schiff has criticized the ‘never sell your Bitcoin’ strategy advocated by Donald Trump and MicroStrategy Inc. MSTR co-founder Michael Saylor. Schiff questioned the logic behind holding onto Bitcoin without ever selling it, comparing it to living in poverty while holding a large amount of the cryptocurrency. Read the full article here.

See Also: Dogecoin’s Real Bull Run Has ‘Not Even Begun Yet,’ Says Trader As Memecoin Battles Stagnation

Crypto Market Dip: Expert Predicts Recovery by October

Cryptocurrency markets are currently trading lower in sync with other financial markets. Despite this downturn, experts are optimistic about a recovery, predicting that the markets should be back on track by October. Read the full article here.

Grayscale Bitcoin Trust Experiences 11% Drop

The Grayscale Bitcoin Trust GBTC saw an 11% drop after Grayscale Investments announced a spinoff into a new exchange-traded fund (ETF). The company plans to transfer 10% of the spot Bitcoin held by GBTC to its new ETF, Grayscale Bitcoin Mini Trust BTC/USD, on July 31. Read the full article here.

FBI Warns of Crypto Exchange Impersonation Scams

The Federal Bureau of Investigation (FBI) has issued a warning about a rising trend of scammers impersonating cryptocurrency exchange employees. The scammers typically create a sense of urgency, alleging that there's a problem with the victim's account or that it's at risk of being compromised. Read the full article here.

Read Next: Vice President Kamala Harris Chances Up To 43%: Is Her Crypto Pivot Driving The Surge?

Image: Tamim Tarin from Pixabay

This story was generated using Benzinga Neuro and edited by Anan Ashraf.