On-The-Money-NerdWallet-Cryptocurrency-Rug-Pull | Smart Change: Personal Finance | billingsgazette.com – Billings Gazette

FILE – This April 3, 2013, file photo shows bitcoin tokens in Sandy, Utah. The Cuban government said Thursday, August 26, 2021, that it will start recognizing cryptocurrencies like Bitcoin as payment. With investors eager to get in early on new cryptocurrency projects, some unscrupulous developers have attracted investments, then walked away before building what they promised — leaving their supporters with worthless holdings. The rug pull, which gets its name from the expression “pulling the rug out,” is part of a long history of investment schemes. But cryptocurrencies have particular risks due to loose regulations for fundraising. (AP Photo/Rick Bowmer, File)

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