Category: Cryptocurrency

SEOUL, Feb 1 (Reuters) – Last year was the worst on record for cryptocurrency heists, with hackers stealing as much as $3.8 billion, led by attackers linked to North Korea who netted more than ever before, a U.S.-based blockchain analytics firm said in a report on Wednesday.

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Charlie Munger at the Berkshire Hathaway press conference, April 30, 2022.

CNBC

Berkshire Hathaway Vice Chairman Charlie Munger urged the U.S. government to ban cryptocurrencies, as China has done, arguing that a lack of regulation enabled wretched excess and a gambling mentality.

“A cryptocurrency is not a currency, not a commodity, and not a security,” the 99-year-old Munger said in an op-ed published in The Wall Street Journal Thursday.

“Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states th…….

SEOUL, Feb 1 (Reuters) – Last year was the worst on record for cryptocurrency heists, with hackers stealing as much as $3.8 billion, led by attackers linked to North Korea who netted more than ever before, a U.S.-based blockchain analytics firm said in a report on Wednesday.

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Charlie Munger at the Berkshire Hathaway press conference, April 30, 2022.

CNBC

Berkshire Hathaway Vice Chairman Charlie Munger urged the U.S. government to ban cryptocurrencies, as China has done, arguing that a lack of regulation enabled wretched excess and a gambling mentality.

“A cryptocurrency is not a currency, not a commodity, and not a security,” the 99-year-old Munger said in an op-ed published in The Wall Street Journal Thursday.

“Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states th…….

Cryptocurrencies amount to a “wretched excess” that should be banned in the US, Berkshire Hathaway’s billionaire vice chairman Charlie Munger argued in a scathing column this week.

Munger — the 99-year-old, right-hand man of legendary investor Warren Buffett — has been an outspoken critic of bitcoin and other unregulated digital tokens, which he once likened to a “venereal disease” he was glad to have avoided.

In a column for The Wall Street Journal, Munger doubled down on his view that cryptocurrencies are a predatory scam targeting ordinary investors.

“A cryptocurrency is no…….

Charlie Munger at the Berkshire Hathaway press conference, April 30, 2022.

CNBC

Berkshire Hathaway Vice Chairman Charlie Munger urged the U.S. government to ban cryptocurrencies, as China has done, arguing that a lack of regulation enabled wretched excess and a gambling mentality.

“A cryptocurrency is not a currency, not a commodity, and not a security,” the 99-year-old Munger said in an op-ed published in The Wall Street Journal Thursday.

“Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states th…….

Charlie Munger is no fan of crypto. As vice chairman of the nearly $700 billion mega-conglomerate Berkshire Hathaway, Munger has helped Warren Buffett make billions for investors since 1978 using a strict fundamentals-based approach to acquiring “high quality businesses.”

And he believes cryptocurrencies represent the opposite strategy, arguing that the entire industry is “partly fraud and partly delusion.” In 2021, Munger famously called the world’s leading digital asset, Bitcoin, “rat poison,” and likened other cryptocurrencies to a type of “venereal disease.” Now, he says the federal government should s…….

Charlie Munger at the Berkshire Hathaway press conference, April 30, 2022.

CNBC

Berkshire Hathaway Vice Chairman Charlie Munger urged the U.S. government to ban cryptocurrencies, as China has done, arguing that a lack of regulation enabled wretched excess and a gambling mentality.

“A cryptocurrency is not a currency, not a commodity, and not a security,” the 99-year-old Munger said in an op-ed published in The Wall Street Journal Thursday.

“Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states th…….

Charlie Munger is no fan of crypto. As vice chairman of the nearly $700 billion mega-conglomerate Berkshire Hathaway, Munger has helped Warren Buffett make billions for investors since 1978 using a strict fundamentals-based approach to acquiring “high quality businesses.”

And he believes cryptocurrencies represent the opposite strategy, arguing that the entire industry is “partly fraud and partly delusion.” In 2021, Munger famously called the world’s leading digital asset, Bitcoin, “rat poison,” and likened other cryptocurrencies to a type of “venereal disease.” Now, he says the federal government should s…….

Charlie Munger at the Berkshire Hathaway press conference, April 30, 2022.

CNBC

Berkshire Hathaway Vice Chairman Charlie Munger urged the U.S. government to ban cryptocurrencies, as China has done, arguing that a lack of regulation enabled wretched excess and a gambling mentality.

“A cryptocurrency is not a currency, not a commodity, and not a security,” the 99-year-old Munger said in an op-ed published in The Wall Street Journal Thursday.

“Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states th…….