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Ireland’s central bank governor calls for ban on crypto ads

The governor of the Central Bank of Ireland Gabriel Makhlouf, reportedly supports legislation that would ban advertising crypto projects to young people.

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The governor of the Central Bank of Ireland Gabriel Makhlouf, reportedly supports legislation that would ban advertising crypto projects to young people.

Makhlouf said before the Committee on Finance, Public Expenditure and Reform, that there was an uncomfortable level of crypto advertisements targeting young adults. The central bank governor reportedly referred to many cryptocurrencies as unbacked assets and suggested lawmakers find a way of banning related ads.

Makhlouf cited the implementation of the European Union’s Markets in Crypto Assets, or MiCA, framework as one of the central bank’s milestones for 2023. EU policymakers have pushed back a final vote on the crypto framework to April.

Ireland’s central bank issued a warning in March 2022 about the risks around crypto investments, referring to many advertisements as misleading , particularly on social media, where influencers are being paid to advertise crypto assets. Makhlouf has also previously criticized investments in crypto, saying people should be prepared to lose all their money.

Authorities in other jurisdictions have also targeted crypto-linked advertisements both online and in the physical world. The United Kingdom’s Advertising Standards Authority cracked down on many ads in 2022, including those part of marketing campaigns from Coinbase, Kraken and eToro.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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