The Mexican Peso (MXN) has continued its upward trajectory, buoyed by softer-than-expected inflation data and growing expectations of a rate cut by the Bank of Mexico (Banxico).
Inflation Eases in Mexico
Mexico’s headline inflation rate slowed to 4.55% in November, down from 4.76% in October. This decline, which was lower than market forecasts, signals a cooling of inflationary pressures in the country. Core inflation also softened, easing to 3.58% from 3.8% in the previous month.
The softer inflation data has increased speculation that Banxico may cut interest rates in its upcoming policy meeting on December 14th. This expectation, coupled with the potential for a rate cut by the US Federal Reserve, has further supported the MXN.
US Dollar Stumbles as Rate Cut Hopes Grow
The US Dollar Index (DXY) has struggled to gain momentum despite a strong November jobs report. While the US economy added 227,000 jobs, the unemployment rate unexpectedly ticked up to 4.2%. This has led to increased speculation that the Fed may cut rates in December to mitigate the risk of a recession.
Technical Outlook for USD/MXN
The USD/MXN pair remains in a downtrend, with a key support level at 20.00. A break below this level could trigger a deeper correction towards 19.75. On the upside, resistance levels are located at 20.25, 20.60, and 20.80.
The Mexican Peso has benefited from easing inflationary pressures and growing expectations of a rate cut by Banxico. The US Dollar, on the other hand, has struggled to gain traction as investors anticipate a potential rate cut by the Fed. As we move into the final weeks of the year, market participants will be closely watching economic data releases from both Mexico and the US for further clues on monetary policy directions.
Sam Bankman-Fried interviewed Tucker Carlson from prison. The former FTX CEO still thinks declaring bankruptcy was a bad decision, and the exchange would have $93 billion in assets from his investments.
Bankman-Fried’s answers showed that many of his beliefs have remained the same since 2022, but it’s important to remember his biases.
Sam Bankman-Fried’s First Video Interview From Prison
Today, Bankman-Fried sat down with Tucker Carlson for a new video interview covering a wide range of topics.
This time, however, he didn’t mention the pardon. When Carlson asked Bankman-Fried why his extensive political contributions didn’t help him avoid prison in 2022, he responded by talking about his disillusionment with the Democratic Party.
This aligns with statements made in his previous interview.
“One factor that might be relevant is, in 2020, I was center-left, and I gave a lot to Biden’s campaign. I was optimistic. By 2022, I was giving to Republicans, privately, as much as Democrats. That started becoming known right around FTX’s collapse. That probably played a role,” he claimed.
Other than that change, however, many of his crypto-related beliefs appear unchanged since the FTX collapse in 2022. For example, Carlson asked Bankman-Fried whether crypto crimes were bigger 10 years ago, and he replied that they were smaller, citing the Silk Road.
When asked if he had any liquid assets, Bankman-Fried talked about roads not taken.
“The company I used to own, had nothing intervened, today would have about $15 billion of liabilities and about $93 billion of assets. There was enough money to pay everyone back in kind at the time. Plenty of interest left over, and tens of billions left for investors. But that’s not how it worked out. It’s been a colossal disaster,” Bankman-Fried stated.
In other words, he doesn’t seem to think that his actions at FTX were wrong or fraudulent. Similarly, the Silk Road achieved widespread notoriety, but its transactions amounted to less than $200 million.
Meanwhile, crypto scams in 2025 can steal that much in one day. In other words, it’s important to remember his biases, especially since he is removed from the scene.
Carlson grilled Bankman-Fried on a few other topics, like whether crypto scams were tarnishing the industry’s reputation. For the most part, they talked about other topics, such as celebrities incarcerated with him, using muffins as “prison money,” Bankman-Fried’s upcoming birthday, etc.
The state of security across the crypto and blockchain space has changed significantly in the past few months. Traditional smart contracts exploited or brute force attacks on blockchain networks are being superseded by crypto scams like rug pulls and pump-and-dump schemes.
BeInCrypto spoke with a spokesperson from security firm CertiK to understand how blockchain and security threats are evolving and how projects and users can safeguard against future exploits.
Social Media Hacks on the Rise
Over the past few months, the crypto community has seen a rise in social media-related hacks. This increasingly common tendency has pivoted away from the orchestration of more sophisticated blockchain attacks that have traditionally plagued headlines.
Whereas smart contract exploits or blockchain hacks require more knowledge, hackers have found an easier avenue by targeting social media accounts instead.
X (formerly Twitter) has quickly become the social media platform of choice among Web3 hackers.
Social Media is Now a Prime Target for Web3 Hackers
After US President Donald Trump launched his meme coin only two days before assuming office, hackers began to take advantage of the hype to hack high-profile X accounts and convince followers to invest in scam meme coins.
Last month, anonymous hackers took over the X account of the former Malaysian Prime Minister Mahathir Mohamad to promote MALAYSIA, a fake meme coin promoted as the country’s official cryptocurrency.
The post was removed within an hour, but the damage was done. Analysis shows that these hackers were probably related to the infamous Russian Evil Corp and that they stole $1.7 million in this rug pull.
The MALAYSIA token scam happened only two weeks after hackers exploited former Brazilian President Jair Bolsonaro’s social media account. In that instance, scammers promoted the BRAZIL token, which rose over 10,000% in minutes, netting the scammers over $1.3 million.
These scams have also affected technological companies.
Attacks on Tech Companies
In December, AI research and development company Anthropic also saw its X account hacked. A fraudulent post claimed that a fake token called CLAUDE would incentivize AI and crypto projects and included a wallet address for investors.
Attackers managed to collect around $100,000 from speculative investors.
These situations also highlight a broader issue of weak account security on social media platforms. As a result, even prominent individuals are susceptible to security breaches that directly affect the crypto community.
TRUMP Meme Coin Launch Was a Catalyst For Crypto Scams
“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, whose harm is at most contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states,” Buterin claimed.
Buterin highlighted the tokens’ role in enabling scams and political corruption in crypto and blamed a regulatory loophole former SEC Chair Gary Gensler created for allowing bad actors to exploit governance tokens.
However, these crypto scams extend beyond political themes.
Growth of Social Engineering Exploits
A week after Buterin cautioned against political meme coins, a Coinbase user lost $11.5 million after falling victim to a social engineering scam on Base.
Crypto sleuth ZackXBT uncovered the exploit, pointing out that this incident is part of a growing trend, with multiple Coinbase users suffering similar losses. He also estimates that crypto scams of this nature have drained at least $150 million from Coinbase customers.
“Coinbase has a serious fraud problem. I just uncovered many more recent thefts from Coinbase users. The $150 million stolen from Coinbase users in a year is just from thefts I independently confirmed. So it’s more than likely multiples of this number,” ZachXBT stated.
In social engineering scams, attackers use phishing emails, spoofed calls, and other deceptive tactics to trick victims into revealing private keys or login credentials. Once they gain access, they drain wallets, move funds, and take control of accounts.
For CertiK, these situations stipulate the need for stronger security measures.
Addressing these security challenges is crucial as new crypto projects increase exponentially.
Prioritizing Proactive Security in a Rapidly Growing Industry
The Web3 sector is experiencing consistent growth, marked by a surge in new crypto project launches. This innovative momentum is expected to continue, but it’s also fueling security concerns.
Notably, the increasing rate of scams and hacks in the first three months of 2025 makes it clear that security efforts are struggling to keep up with innovation.
A study by Precedence Research estimates the Web 3.0 market will expand from USD 4.62 billion in 2025 to approximately USD 99.75 billion by 2034, with a projected compound annual growth rate (CAGR) of 41.18% during that period.
Predicted market size of Web3 in the next ten years. Source: Precedence Research.
Yet, CertiK believes that project developers are pushing security considerations toward the end of the priority list.
As the Web3 ecosystem evolves, a proactive and adaptive security approach is critical. Prioritizing both blockchain integrity and social media vigilance will be essential for safeguarding the growing Web3 ecosystem.
The battle against these exploits requires a future where security is not an afterthought but a foundational pillar of every Web3 project and user interaction.
