President Trump, a crypto skeptic in his first term, touted the United States as a "bitcoin superpower" at the Blockworks Digital Asset Summit in New York City last week. But his second administration's embrace of crypto, and its shift toward deregulation, comes as the number of scams is set to increase.
Crypto investors lost at least $9.9 billion last year as a result of scams, according to the latest data compiled by Chainalysis, a New York City-based blockchain analysis firm. That estimate is expected to rise as more illicit addresses associated with fraud are identified in the coming months.
