Forbes - Look who's back 👀

Good Wednesday morning. This is Billy Bambrough, bringing you your latest batch of bitcoin and crypto news hot off the press.
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24-hour crypto market snapshot
XRP (+7%) $1.19
Punch drunk on an ether high 🥴
"There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge," Hunter S. Thompson, Fear and Loathing in Las Vegas.

Cryptocurrency prices are looking up today but bitcoin is still struggling to make meaningful headway. The bitcoin price has settled in at around $48,000 per bitcoin this past week or so and traders look to be waiting for some real market-moving news before choosing to move above $50k or drop back towards $40k.

Bullish? Coinbase's bitcoin reserves drop to the lowest level since December 2017

Meanwhile, ethereum's ether token is on a roll, climbing to over $3,500—a high not seen since May that some think is a result of a supply squeeze brought on by ethereum's recent token-burning upgrades.

Elsewhere, Ripple's XRP and ethereum rival polkadot are leading the crypto top ten higher, adding 7% and 10% respectively.

ICYMI: Tennis superstar Naomi Osaka has a new interest: Cryptocurrencies
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Trump to crypto: "You're fired!" 👉
Trump spoke last month at a major rally in Alabama
Trump spoke last month at a major rally in Alabama Anadolu Agency via Getty Images
Trumped: Donald Trump, the former U.S. president who has all but disappeared from the media landscape he dominated for four tumultuous years, still isn't a fan of bitcoin and crypto two years after branding it and other cryptocurrencies "unregulated crypto assets" that can "facilitate unlawful behavior, including drug trade and other illegal activity."

Outfoxed: Trump, speaking yesterday on Fox News, warned that investing in cryptocurrencies is "potentially a disaster waiting to happen" and said he has "not been a big fan" of crypto—adding that he does not invest in bitcoin or any other coins.

The almighty dollar: "I like the currency of the United States," Trump told Fox host Stuart Varney, arguing that investing in cryptocurrencies "hurts the United States currency" and "we should be invested in our currency."

Fakeout: Trump also said cryptocurrencies "may be fake"—"Who knows what they are, but they certainly are something that people don’t know very much about." Back in June, Trump, speaking again on Fox, said bitcoin seems like a "scam."

Why it matters: Trump, despite being subject to media blackout since January, is hitting the campaign trail as he continues to tease a third run for the White House and his views on bitcoin and crypto could again influence policy.

Now read this: El Salvador is about to make bitcoin legal tender. What could go wrong?
🔎 NFT watch: Banksy or Pranksy?
🤷‍♂️ NFTs (non-fungible tokens that have become digital collector items) aren't easy. Amid a huge NFT craze, coupled with a broad misunderstanding of what on Earth NFTs even are, mistakes are bound to happen.

🎨 This week, one ethereum-flush buyer who thought he was purchasing the first-ever NFT of the anonymous British graffiti artist Banksy was tricked by a faker—who then returned the $336,000 worth of ethereum. Read the full story here.

Wizz kids: These 14- and 9-year-old siblings earn over $30,000 a month mining cryptocurrency
🚨🚨 Breaking: Cream to return stolen funds using protocol fees
Cream Finance, which Codex yesterday reported was victim of a $33 million hack attack, said it will use protocol fees to repay user funds.

The Cream Finance team, writing in a postmortem published on Medium, said it will commit one-fifth of protocol fees until affected users are repaid. Hackers bagged $33.5 million in ethereum's ether and amp tokens.

Don't miss: Bitcoin Exchange Founded By Billionaire Sam Bankman-Fried Acquires CFTC License
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Billy Bambrough
Forbes Contributor
I am a journalist with significant experience covering technology, finance, economics, and business around the world. I write about how bitcoin, crypto and blockchain can change the world.
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