Bitcoin slides under $90,000, erasing some of the gains made under Trump

• February 25, 2025

By ALAN SUDERMAN, Associated Press

The price of bitcoin fell below $90,000 and other cryptocurrencies saw large drops Tuesday morning, erasing some of the gains digital assets have made since President Donald Trump took office on a pro-crypto agenda.

Bitcoin, the world’s most popular cryptocurrency, was trading at about $89,000 as the U.S. stock market opened. That’s down from about $106,000, which was the price around Trump’s inauguration. The decline in bitcoin and other crypto assets accelerated after a report showed a bigger-than-expected drop in consumer confidence for this month.

Cryptocurrency is highly volatile, and prices can change rapidly. Even with Tuesday’s drop, bitcoin is still up significantly since Trump won last year’s election. Supporters said the price drops represent a good investment opportunity.

“Buy the dips!!!” Eric Trump, the president’s son, said on the social media platform X. He replaced the letter B with the symbol for bitcoin.

It’s been a mixed bag for the cryptocurrency industry in recent weeks. The president and pro-crypto members of Congress have promised to usher in a golden age for the industry and pledged quick action to craft friendly regulations. And in recent weeks, regulators at the Securities and Exchange Commission have signaled plans to drop enforcement actions against key industry players, like Coinbase and Robinhood.

But a large hack of a major cryptocurrency exchange — one of the biggest thefts of all time — and a major scandal involving the president of Argentina and a meme coin have highlighted some of the vulnerabilities in a relatively still nascent industry.

Last week the Dubai-based cryptocurrency exchange Bybit announced it was a victim of a sophisticated hack that stole about $1.5 billion worth of digital currency. A number of security researchers believe North Korea, which authorities have blamed for several other major crypto hacks, was behind the theft.

Argentine President Javier Milei is facing a corruption probe into his promotion of a meme coin, called LIBRA, whose price soared then quickly crashed after Milei posted about it on X. Milei has distanced himself from the meme coin and denied any wrongdoing.

Meme coins are a highly speculative form of cryptocurrency that are mostly minted as jokes and have no intrinsic value but can sometimes soar in price.

One of the crypto developers involved in the LIBRA coin said meme coins are essentially a rigged game that benefits a small group of people at the expense of retail investors in a recent interview with an independent journalist.

That developer, Hayden Davis, also revealed he was involved in the launch of First Lady Melania Trump’s meme coin just before her husband took office. The Melania meme coin was trading at about 90 cents on Tuesday, down from more than $13 when it first launched. The president also helped launch a meme coin just before he took office that’s seen a similar price trajectory.

Solana, a major cryptocurrency that’s a key player in the meme coin ecosystem, has seen its price roughly cut in half since Trump’s inauguration.

​ Orange County Register 

20 new garden plants to watch out for this year

• February 25, 2025

By Jessica Damiano | The Associated Press

Like most gardeners, I have favorite plants I’ve been growing for years and will continue to grow, like fragrant and tasty Big Boy tomatoes, wide Romano-type Italian flat beans, climbing zucchini and Queen Lime Mix zinnias.

But I also like to try new plants.

So, it’s helpful to know that each year, the independent, non-profit All-America Selections organization enlists more than 80 horticulture professionals from around the U.S. and in Canada to serve as plant-trial judges. They’re tasked with growing the new plants side-by-side with currently available varieties and comparing their performance, time to maturity, flower or fruit size, disease resistance and other characteristics important to home gardeners.

When the results are compiled, standout plants are named AAS winners for the following year, which coincides with their introduction to the market.

For 2025, 20 plants — seven edible and 13 ornamental – have been named national or regional winners.

Edibles

Basil Piedmont (Regional Winner: Great Lakes and Heartland)

Notable for its remarkable disease resistance, this new basil was also noted for “exceptional” downy mildew resistance, strong aroma, classic flavor and a “refined habit,” which gave it a longer shelf life after harvesting. The dense, bushy plant also was lauded for vigorous growth and health, even in challenging conditions. (Bred by Garden Genetics and Seeds by Design)

Cauliflower Murasaki Fioretto 70 F1 (National Winner)

Murasaki translates to “purple” in Japanese. So, yes, this long-stemmed cauliflower has bright purple florets, as well as long, tender stems. Early to mature and easy to harvest, the mild-flavored brassica would make a beautiful purple crudite. (It turns fuchsia in vinegar and golden brown when sauteed or roasted). (Bred by Tokita Seed America)

Kohlrabi Konstance F1 (National)

Judges found this purple kohlrabi grew well in both spring and fall and produced crack-resistant, long-lasting bulbs with smooth, vibrant skin. It also offers a longer harvest window than other varieties and tasty leaves. (Bred by Bejo Seeds)

Pepper Pick-N-Pop Yellow F1 (National)

These mid-size plants, noted for “outstanding” resistance to bacterial leaf spot disease, continually produced sweet, yellow, snack-size peppers throughout the growing season. (Bred by Seminis Home Garden)

Squash Green Lightning F1 (National)

Appreciated for its small seed cavity, which equates to a higher proportion of edible flesh from each fruit, Green Lightning lived up to its name in the trials, impressing judges with its early maturity. Further, one judge noted, “This entry not only looked better but also tasted better than the comparison. The color and pattern of the squash was novel and cute-pretty enough to use as a decoration. When cooked, this squash had a nice robust flavor that stood up to added seasonings.” (Bred by Joseph Stern; marketed by PanAmerican Seed)

Squash Thriller F1 (National)

Judges found this color-shifting squash unique, well-adapted and easy to grow. The plants produce 1-to-2-pound fruits with bright orange-, green- and cream-ridged vertical stripes that shift color as they mature. (Bred by Sakata America)

Tomato Tonatico F1 (Mountain/Southwest, Northeast)

Judges were impressed with the taste, texture, yield, disease resistance and reduced fruit cracking and splitting of this upgraded cherry tomato. Tonatico also was lauded for its strongly attached, uniform fruit clusters that detach easily at harvest time. (Bred by Bejo USA)

Ornamentals

Celosia Flamma Pink (National)

Pink, the latest introduction in the Flamma Celosia series, is a semi-dwarf, easy-to-grow pink variety of celosia noted for exceptional blooming and vibrant, long-lasting upright flowers. Judges commended its vigorous performance even in hot and humid weather, and its longer-than-expected vase life as a cut flower. (Bred by Clover Seed Co., Distributed in North America by Sakata Seed Corp.)

Vinca Sphere Polkadot (National)

Judges called this vigorously blooming vinca variety resilient and beautiful. With a naturally compact, rounded habit, the plant blooms throughout the summer, thriving in hot, dry conditions and boasting superior disease resistance and durability against heavy rain and storms. (Bred by Miyoshi & Co. Ltd.)

Zinnia Crestar Mix (National)

Crestar Mix combines “the best” crested — or Scabiosa-type — zinnias in one seed pack. The distinctive semi-double, pink, orange, red, white, peach and yellow flower blend works well for mass plantings and succession sowing, providing a continuous supply of cut flowers during summer. The sun-loving plants also tolerated heat and humidity well in the trials. (Bred by Takii Europe)

Dahlia Black Forest Ruby (National)

Featuring a range of semi-double to double ruby-red flowers against a black-foliage backdrop, the sturdy, disease-resistant plant impressed judges on two continents with its overall durability, as it also received the Fleuroselect award for superior performance in European trials. (Bred by Takii Europe B.V.)

Dianthus Interspecific Capitán Magnifica (National)

This new dianthus thrived through the test gardens’ summer heat. Its two-toned pink flowers, held on long stems, are suitable for bouquets in cut-and-come-again fashion, and a quick shearing after its first bloom will encourage a vigorous comeback. (Bred by Selecta One)

Marigold Mango Tango (National)

This marigold boasts bi-color, yellow-and-red blooms on compact, vigorous plants that provide nonstop color over an extended season. The variety, which also won the Fleuroselect award for performance in European trials, is well-suited for both borders and containers. (Bred by Ernst Benary of America, Inc.)

Nasturtium Baby Gold, Nasturtium Baby Red and Nasturtium Baby Yellow (Heartland, Mountain/Southwest, Northeast)

Also recipients of the Fleuroselect award for performance in European trials, these new entries in the Baby series of petite, mounded nasturtiums produce golden-yellow, rich red and soft yellow flowers that contrast nicely with their dark-green leaves. The judges praised their uniformly compact habit, which reduces flopping, and intense, non-fading flower color. (Bred by Takii Europe BV)

Petunia Dekko Maxx Pink (Great Lakes, Heartland, Northeast, West/Northwest)

This slow-maintenance petunia’s fast-growing, compact, spreading habit and abundance of non-fading pink blooms impressed judges during summer trials. Flowers blanketed plants throughout the season and held up well against heavy rain and harsh weather. (Bred by Syngenta Flowers)

Petunia Shake Raspberry F1 (National)

Likened to “a blended raspberry milkshake swirled with lemon-lime green sorbet on a superior-performing petunia,” this compact plant impressed with its heat resistance and season-long color. (Bred by Hem Genetics BV)

Snapdragon DoubleShot Yellow Red Heart F1 (National)

This candy-scented snapdragon bloomed earlier than comparable varieties in the trials. Trial judges noted its healthy, vigorous growth, long-lasting flowers, and exceptional heat tolerance. (Bred by Hems Genetics)

Zinnia Zydeco Fire (National)

This vibrant, disease-resistant zinnia variety boasts firey orange, fully double blooms held atop sturdy stems. Judges found its flowers to be larger and more resilient than those of comparison plants. (Bred by Syngenta Flowers)

___

Jessica Damiano writes weekly gardening columns for the AP and publishes the award-winning Weekly Dirt Newsletter. You can sign up here for weekly gardening tips and advice.

​ Orange County Register 

Recipe: Whipped Ricotta works as a versatile topping or appetizer

• February 25, 2025

I love recipes that multitask, formulas that create dishes that can be used in a variety of ways. This Whipped Ricotta fills that bill. It can function as a delicious appetizer paired with burst cherry tomatoes and crostini. It also is delicious served as a topping over roasted vegetables, especially asparagus, mushrooms, or cauliflower. Or it’s scrumptious judiciously spooned over scrambled eggs.

The mix comes together quickly. Ricotta and Parmesan whirl in a food processor until the mix resembles whipped cream, with small amounts of milk or cream added to reach an alluring consistency. If using as an appetizer or first course, the mix is spread out into an 8-inch round and topped with burst tomatoes; those beauties are tossed with olive oil, salt, pepper, and oregano on a rimmed baking sheet and then roasted in a hot oven until they wrinkle and just start to burst. Lemon juice, basil leaves, and a drizzle of olive oil come to the party just before serving.

Whipped Ricotta with Burst Tomatoes

Yield: 4 as an appetizer or starter

INGREDIENTS

1 cup full-fat ricotta, room temperature

1/2 cup tightly packed finely grated Parmesan cheese

2 to 3 tablespoons milk or cream, if required, see cook’s notes

Burst tomatoes:

1 1/4 pound cherry tomatoes

2 tablespoons extra-virgin olive oil

1/2 teaspoon coarse salt

1/8 teaspoon ground black pepper

1 1/2 teaspoons dried oregano

To finish: 

1 tablespoon extra-virgin olive oil

2 teaspoons fresh lemon juice, plus extra if needed

12 to 15 small fresh basil leaves

For serving: Crostini

Cook’s notes: Cookbook author Nagi Maehashi (“Delicious Tonight”) advises to use a ricotta bought at a delicatessen (or natural food store) or the type that is sold in baskets that are vacuum packed. I often use a full-fat ricotta sold in a plastic tub at the supermarket, one that Maehashi doesn’t recommend due to its lack of creaminess. She says to use milk. I make up for the lack of creaminess by using heavy whipping cream instead of milk.

DIRECTIONS

1. Adjust oven rack to middle position. Heat oven to 400 degrees. Place ricotta and Parmesan in food processor (or a bowl if using a hand-held electric beater). Beat until smooth. The mix should look like whipped cream. If it is too stiff, dilute it with 1 teaspoon milk (or cream) at a time, beating to combine. Repeat until desired whipped cream-like consistency.

2. On a rimmed baking sheet, toss tomatoes with oil, salt, pepper, and oregano. Spread tomatoes into a single layer. Roast in preheated oven until skin starts to wrinkle, about 15 minutes. Remove pan from oven and leave tomatoes on the pan. Cool to room temperature, about 20 minutes.

3. Dollop the whipped ricotta in the center of the serving plate and smear it out into an 8-inch circle, pushing most of it to the outer edge of the circle. Scatter tomatoes on top, then pour the pan juices on top. Drizzle with oil and lemon juice, then scatter with basil leaves. Accompany with crostini. Serve immediately.

Source: Adapted from “Delicious Tonight” by Nagi Maehashi (Countryman Press)

Award-winning food writer Cathy Thomas has written three cookbooks, including “50 Best Plants on the Planet.” Follow her at CathyThomasCooks.com.

​ Orange County Register 

What to know about air traffic control towers after a midair collision in Arizona prompts questions

• February 25, 2025

By SUSAN MONTOYA BRYAN, Associated Press

Tens of thousands of planes take off, land and perform touch-and-goes at the Marana Regional Airport in southern Arizona every year. Without an air traffic control tower, it’s a calculated dance that requires communication by pilots.

Two small planes collided in midair over one of the runways on the outskirts of Tucson last week. One hit the ground and caught fire, sending up a plume of black smoke. The remains of two people were found in the charred wreckage. The other plane was able to land, with those occupants uninjured.

The collision was the latest aviation mishap to draw attention in recent weeks. The circumstances vary widely with each case, however, and experts who study aviation accidents say they don’t see any connection between them.

Chatter over the airwaves has provided some clues about what happened in Arizona. A chief flight instructor who was in the air with a student that day heard the commotion over the radio: One plane was attempting a touch-and-go when another clipped its propeller while attempting to land.

Erwin Castillo, who works for IFLY Pilot Training, recalled hearing one pilot scream: “Mayday! Mayday! Mayday! He just hit us.”

It will be up to federal investigators to determine what caused the crash, a detailed process that will take months.

While some observers suggest having a control tower may have made a difference, experts say not having a tower doesn’t mean the airport is any less safe; pilots just have a different set of communication procedures to follow.

How many airports in the US have control towers?

Of the 5,100 public airports across the country, only about 10% have towers staffed by people who direct the flow of traffic. These are the busiest of airports, with complex operations and large volumes of commercial flights.

For the airports without control towers, pilots rely on radio communications and the principle of “see and avoid” to ensure they can maneuver safely. The concept is drilled into pilots from Day 1 of their training and it’s applicable regardless of the kind of airspace they’re in, said Mike Ginter, a retired Navy aviator and senior vice president of the Aircraft Owners and Pilots Association’s Air Safety Institute.

He likened it to being behind the wheel of a car and practicing all the safety rules learned in driver’s ed.

“You don’t have to tell the state police that you’re getting ready to drive to the supermarket to get groceries. You just go out, and you look both ways before you turn, and you turn on your turn signal and you drive,” he explained, saying there are basic tenets of safety that are ingrained in pilots.

The system has worked well, considering the sheer number of planes coming and going daily from small airports and the roughly 26 million hours of flight time logged by general aviation pilots.

What prompted regulation of the friendly skies?

It was a summer day in 1956 when two commercial flights left Los Angeles within minutes of each other — one en route to Chicago and the other to Kansas. Flying under visual flight rules, the planes collided over the Grand Canyon in Arizona, killing all 128 people aboard. The crash site is now a National Historic Landmark.

Even though U.S. air traffic had more than doubled since the end of World War II, it was this disaster that helped to fuel efforts to overhaul aviation safety.

Legislation was introduced in 1958 to create an independent federal agency that would provide for the safe and efficient use of national airspace. The bill was signed within months and the first Federal Aviation Agency administrator was appointed.

Responsibilities evolved, and the agency became the Federal Aviation Administration as air traffic control systems were being modernized.

Are new control towers being planned?

Through the FAA, airports can apply for federal grants to modernize and build air traffic control towers that are staffed by private companies and contract workers, rather than FAA staff.

Nearly 180 airports nationwide are eligible for funding under the program, with most looking to upgrade existing towers — some that date back to the 1940s and others that were meant to be temporary.

A review of funding awarded through the program over the past four fiscal year shows a handful of airports were awarded money specifically for site studies, environmental work and construction of new towers. That includes airports in Bend, Oregon; Boulder City, Nevada; and Mankato, Minnesota.

In the case of Marana, the airport was first accepted into the program in 2019 but the coronavirus pandemic stalled efforts to get a tower built by the five-year deadline. Airport officials have said they now are on track to complete the project by 2029.

Will federal job cuts affect air traffic safety?

U.S. President Donald Trump issued a memo in late January to top transportation officials, ordering an immediate assessment of aviation safety following the midair collision of an Army helicopter and commercial passenger jet over the Potomac River in Washington, D.C. Sixty-seven people were killed.

Trump raised questions about hiring practices within the FAA, suggesting previous Democratic administrations had shifted away from merit-based hiring.

Some FAA jobs have been eliminated as Trump streamlines the federal workforce and looks to ferret out waste and curb spending, but less than 1% of the agency’s more than 45,000 workers were probationary employees targeted as part of the job cuts, federal officials have said.

In addition, the administration has said no air traffic controllers or critical safety personnel were fired as part of the effort. But labor and industry groups say even without cuts, air traffic control towers were already understaffed.

Trump has said that he would support legislation aimed at modernizing the nation’s air traffic control system. In a letter sent to members of Congress last week, the industry group Airlines for America pushed for emergency funding for critical air traffic control technology and infrastructure as well as air controller staffing and training.

Associated Press writer Sejal Govindarao in Phoenix contributed to this report.

​ Orange County Register 

How one startup wants to bring an innovative solution to the plastic bag problem

• February 25, 2025

Six years ago, Julia Marsh gathered with friends in the kitchen of her small Brooklyn apartment. She’d ordered some flour-like powder derived from seaweed off the internet, and — after watching tutorial videos on YouTube — she needed help with the baking required to turn it into an environmentally-friendly, compostable plastic.

“Early on, it was purely experimental,” said Marsh. “Let’s just see what we can make.”

As she smeared a sweet-smelling goo onto baking sheets, Marsh, then a design student at the School of Visual Arts in New York City, deliberated about what temperature to set the oven. Several trials later, her first bioplastic prototypes were born.

“They were ugly,” she said, and only “kind of resembled” plastic. But these early experiments gave the Monterey Bay native the confidence to fight against the torrent of single-use plastics threatening the oceans she grew up playing beside.

In 2020, Marsh co-founded Sway, a San Leandro startup that aims to replace conventional plastic packaging, made from petroleum products, with a green alternative. This year, Sway and four fashion brands will launch their first fully compostable seaweed-based “polybags” — the clear plastic packaging that protects new garments during delivery.

Conventional polybags are an environmental nightmare, breaking down into microscopic pieces, entering waterways and even our food.

According to the UN Environment Programme, nearly 11 metric tons of plastic enter the oceans each year. These discarded plastics are killing marine animals including turtles, fish and seabirds, who can die from entanglement or from eating plastics.

“A lot of animals are eating our trash,” said Marcus Eriksen, co-founder of the 5 Gyres Institute, a plastic pollution research nonprofit based in Santa Monica.

Marsh sees this pollution as an affront to her upbringing on the Northern California coast. “When we would go down to the beach, my dad would say, ‘Never turn your back on the ocean,’” she said, recalling his safety tips. “But I like it as a metaphor. We need to be turning toward the ocean and paying attention to this great power that makes up the majority of this planet.”

For garment makers trying to be green, finding an alternative to conventional plastics is a priority. Alex Crane — a company making clothing out of renewable materials including fibers from banana trees and coconuts — is one of the four brands in the Sway Innovation Coalition.

“It’s always weird when you see companies preach sustainability and then the product comes in a plastic bag,” said Aaron Smith, the company’s chief operating officer. “It feels like one step forward and two steps back.”

Another early adopter is Florence, the outdoor gear company founded by three-time world surfing champion John John Florence.

“He practically lives in the ocean,” said Bruce Moore, director of innovation and sustainability at Florence. “He sees pollution firsthand and wants to do something about it.”

There are many plastic alternatives on the market, but not all are compostable within a short time. These “green” products live in a gray area, requiring intensive industrial composting to be completely broken down.

Tests run by Cold Creek Compost in Ukiah showed that Sway’s bags were nearly completely broken down after 60 days. The company is now seeking certification that its products can be broken down in a backyard composter together with food scraps and garden waste.

While investigating a material to use to make green plastics, Marsh researched crops like corn and sugarcane, before deciding on an alternative that resonated with her Monterey Bay upbringing.

As the daughters of a florist and a fisherman, Marsh and her sister would, as children, adorn sand mermaids with seaweed hair and use washed-up kelp as jump ropes.

“It was familiar to me. And then it became an obsession,” Marsh said.

In 2018, shortly after the early experiments in her Brooklyn kitchen, that obsession led Marsh and her partner Matthew Mayes, co-founder of Sway, to Indonesia, one of the largest producers of seaweed in the world. After wading out into the turquoise blue waters at a seaweed farm, Marsh was amazed by how quickly the crop grew. “The farmer would give it a haircut and two weeks later it would regenerate,” Marsh said. Unlike conventional crops, this type of aquaculture requires no fresh water, pesticides or arable land. Farmers simply reel out lines embedded with seaweed spores and let the algae flourish.

Farmed seaweed also creates an underwater sanctuary for fish and invertebrates to shelter in and raise their young. And because the seaweed is trimmed rather than being harvested in full, that ecosystem stays in place.

Today, Sway’s seaweed comes from farms in Asia, North and South America, East Africa and Europe. So far, Sway has only sourced from Maine and Alaska in the United States. Marsh wishes she could incorporate local seaweed into her products, but there are no commercial seaweed farms in California.

Catherine O’Hare, the company’s seaweed sourcing specialist, is working on a scorecard to ensure that suppliers meet Sway’s ethical standards. She will evaluate the social and environmental impacts of each new partner, such as their ability to provide fair wages and track ecosystem health.

The launch of Sway’s compostable garment bags is a start, but with the fashion industry still using billions of conventional polybags each year, Marsh is well aware of the magnitude of the challenge that lies ahead.

“Plastic production is only increasing. It’s not going down yet,” she said. “I’d rather know that this work is pointing us in the right direction. I firmly believe in a future where seaweed will become a mainstream part of people’s daily lives.”

​ Orange County Register 

Orange County girls athlete of the week: Ava de Leest, Troy

• February 25, 2025

Support our high school sports coverage by becoming a digital subscriber. Subscribe now

The Orange County girls athlete of the week:

Name: Ava de Leest

School: Troy

Sport: Soccer

Year: Senior

Noteworthy: The Boise State-bound goalie blocked a penalty kick in the 70th minute and made four stops in a penalty shootout to help Troy defeat No. 4 seed Los Alamitos in a CIF-SS Division 1 quarterfinal match that was scoreless after regulation and overtime. In a victory against Westlake in the semifinals, de Leest recorded two saves in a penalty shootout as the Warriors again won after a scoreless regulation and overtime.

Send nominees for girls athlete of the week to Dan Albano at dalbano@scng.com or @ocvarsityguy on X or Instagram

​ Orange County Register 

What is cryptocurrency and how do I avoid scams when investing?

• February 25, 2025

After a Maryland teacher died by apparent suicide while under investigation for alleged financial fraud and child sex abuse, investors across six states told The Baltimore Sun Justin Rieger had invested their money in the cryptocurrency market.

The Sun interviewed two crypto experts about what cryptocurrency is, what investors should know about digital currencies, and why they can be riskier than traditional investments.

Jimi “Fitz” Fitzgerald is the host of “The Crypto Fitz Show and Podcast” where he decodes complicated financial terms. Daren Firestone is a partner at Levy Firestone Muse, where his practice focuses on representing whistleblowers in the crypto industry. Their answers have been edited for space and clarity.

Is crypto a digital stock market?

FITZ: Sort of. Stock markets are numerous and very different around the world. In the U.S. we have the Dow, S&P 500, NASDAQ, Russell 2000, and many others. Traditional stock markets are closed more hours than they are open. The crypto market is a worldwide 24/7 marketplace with all buying and selling out of the same pool of assets.

FIRESTONE: There are digital markets, called exchanges, where you can buy and sell crypto. These markets are similar to stock markets. However, the question of whether crypto is similar to stock is a matter of great controversy. Courts have decided whether cryptocurrencies are securities [and stocks are a type of security] on a case-by-case basis. Nearly every court has decided that the crypto it analyzed was a security. But the Securities and Exchange Commission is currently rethinking whether it agrees with these courts. The decision it makes will affect how crypto is regulated.

Is crypto investing risky? Why?

FITZ: Crypto investing is very volatile because of its accessibility to billions of people simultaneously around the world, yet no different than the risk of traditional finance markets that always go up and down.

FIRESTONE: Most crypto companies do not release audited financial statements. Some do not reveal the identities of their executives. Some have no home offices. Many are located in jurisdictions where there is little recourse if your money is stolen. So, it’s difficult to know what you’re investing in, and if you’re ripped off, it’s hard to get your money back. Also, cryptocurrencies are easy to create and often hyped by paid celebrities or crypto-influencers [who often don’t reveal their compensation]. That means there are a lot of unverifiable claims made by people with large followings. Finally, cryptocurrencies often have large, rapid and unpredictable price swings that are more likely to be tied to a tweet than to business fundamentals.

Why don’t you need a license to trade crypto?

FITZ: Exchanges and money service companies need licenses to trade crypto but individual retail investors do not if they are trading peer to peer.

FIRESTONE: Who qualifies as a broker-dealer under the securities laws and, therefore, must register with the SEC is another matter of great controversy that turns on whether cryptocurrencies are securities. Generally speaking, underwriters, brokers, market makers and other dealers doing business in securities in the United States must register as broker-dealers. But if a cryptocurrency is not a security, then no registration with the SEC is necessary.

Why does the value of crypto change?

FITZ: Cryptocurrencies are no different than a stock. Many variables affect the price including market cap, number of tokens [or digital currency] issued, what the utility is of the crypto [how easily you can trade the currency], is there a buzz about the token and what personnel are behind the project. Remember, the only truly decentralized [meaning not owned by a company but instead by users] crypto commodity is bitcoin with a capped supply of 21 million with no company or employees. Just millions of computer nodes around the world running the immutable, cross border, peer-to-peer network.

FIRESTONE: The value of crypto, like anything else, is equal to what someone will pay for it. In general, people pay more for crypto when they think they will be able to sell it at an even higher price. Many factors enter into that determination, including market trends, world events, interest rates, endorsements, strategic partnership announcements, etc. This is true for stocks as well. The main difference is that the price of a stock is typically somewhat related to the company’s expected future earnings. In crypto, that is rarely the case.

Can you trace where crypto investments go?

FITZ: Yes. Each transaction on a blockchain has a unique algorithm identifier of letters and numerals. An individual has a send and receive key unique to that person [similar to a digital password] and the only way to connect the private keys to that person is if their private key has been revealed.

FIRESTONE: It is very difficult to trace crypto, especially when someone wants to cover their crypto tracks. To trace, you need to know how to use often complicated or expensive crypto tracing software. Even if you are a crackerjack tracer, criminals who want to hide their tracks have numerous tricks at their disposal to throw you off, including, mixers, security enhanced tokens, chain-hoping, over-the-counter transactions, using non-Know Your Customer exchanges [which are required to verify the identity of customers’ financial companies or exchanges], and so on. There’s a reason why crypto is the preferred currency of money launderers, sanctions evaders, cybercriminals, corrupt politicians and so many other criminals: It’s difficult to follow the money.

Have a news tip? Contact Riley Gutiérrez McDermid at rmcdermid@baltsun.com, 443-571-6987 or on X as @rileymcd.

​ Orange County Register 

‘Puppy Mountain’: A cliff that looks like a puppy resting beside the Yangtze River delights in China

• February 25, 2025

By ELSIE CHEN

When Shanghai-based designer Guo Qingshan posted a vacation photo on Valentine’s Day and captioned it “Puppy Mountain,” it became a sensation in China and even created a tourist destination.

Guo had gone on a hike while visiting his hometown of Yichang in central China’s Hubei province in late January. When reviewing the photos, he saw something he hadn’t noticed before: A mountain shaped like a dog’s head rested on the ground next to the Yangtze River, its snout perched at the water’s edge.

“It was so magical and cute. I was so excited and happy when I discovered it,” Guo said.

“The puppy’s posture is like it’s drinking water, or it’s looking at some fish. It also looks like it’s quietly protecting the Yangtze River,” he said.

Guo’s post on Chinese social media app Xiaohongshu, or RedNote, received 120,000 likes within 10 days. On the media platform Weibo, the hashtag #xiaogoushan — Chinese for “Puppy Mountain” — drew millions of views.

Dog owners started to post pictures of their dogs to see which one had the closest resemblance. Many people traveled directly to the location in Yichang to see the mountain for themselves and some even brought their dogs to take photos.

“Puppy Mountain here I am!” one social media user wrote on RedNote along with photos of the mountain. “Just stroke the puppy’s head and then everything will be OK.” Another social media user commented: “We all need the eyes to see the beauty in this world.”

Yang Yang, who lives about an hour and half from the location, drove there with her friends and her 2-year-old grey poodle named Yang Keyi.

“I was really happy to see the mountain,” she said. “I always travel with my dog if possible, so Puppy Mountain and my own little dog really match.”

The mountain is in Yichang’s Zigui County, where it can be seen from an observation deck. The Yangtze River, the longest river in China and the third-longest river in the world, flows through the mountainous area.

After Guo’s photo went viral, many people shared photos of the view they previously had taken from the same deck, many saying they hadn’t realized it looked like a dog. Some discussed how the dog’s appearance has changed over the years.

Yichang resident Shi Tong said he knew he had seen the mountain before, and posted a photo he took of the location in 2021.

“After I saw the Puppy Mountain photo online, I tried to look up where it is. And then I realized that I have been to this place before. I thought it looked like a dog at that time too!”

​ Orange County Register