Crypto: Innovation or Insanity? Meme Coins, Hacks, and Strategic Bitcoin Reserves | Money For the Rest of Us Podcast

We consider the incongruency of a U.S. Strategic Bitcoin Reserve, the latest crypto exchange hack, and how most participants lost money on the Trump meme coin. Given all that, we review some areas where cryptocurrency is helping individuals and businesses.
Topics Covered
What is the U.S. Strategic Petroleum Reserve
Why it makes little sense for the U.S. and individual states to create and participate in a Strategic Bitcoin Reserve
What led to the latest and largest cryptocurrency exchange hack in history
How financial and other data breaches impacted over 1 billion people last year, costing over $15 billion
How quantum computers could disrupt the security of cryptocurrency and traditional financial systems
Why most speculators lose money on meme coins
What are some current ways cryptocurrency is helping individuals and businesses achieve greater financial stability and lower costs

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Show Notes
All Information (Except Text) for S.4912 - BITCOIN Act of 2024—Congress.gov
House Bill No. 4087—Michigan Legislature
2025 South Dakota Legislature House Bill 1202—South Dakota Legislature
State of Arizona Senate SB 1025—Arizona State Legislature
Quantum computers and the Bitcoin blockchain by Itan Barmes, Bram Bosch and Olaf Haalstra—Deloitte
Bybit Hack, Crypto’s Biggest Ever, Spoils Coinbase’s SEC Victory Party by Olga Kharif, Muyao Shen, and Emily Nicolle—Bloomberg
Cost of a Data Breach Report 2024—IBM
ITRC Annual Data Breach Report—Identity Theft Resource Center
Post by @realDonaldTrump—Truth Social
Trump Meme
Early Investors in Donald Trump’s Memecoin May Have Been Tipped Off, Experts Claim by Joel Khalili—Wired
Exclusive: Trump's meme coin made nearly $100 million in trading fees, as small traders lost money by Tom Wilson and Michelle Conlin—Reuters
Memecoin scandal rocks Argentina’s Javier Milei by Ciara Nugen—The Financial Times
Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks by Krisztian Sandor—CoinDesk
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