On Tuesday 9 November, Bitcoin’s price was trading up by roughly 11.5% on the last week after soaring to a new record price of over $68,000 on Tuesday morning.
GURA: Their market cap worldwide is now close to $2.5 trillion, which is almost as large as the GDP of France. Even the big Wall Street banks now trade bitcoin. And Gary Gensler, the head of the Securities and Exchange Commission, shares Warren's concerns. Here's what he said in a recent speech.
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Binance and Coinbase listings remain a coveted goal for new cryptocurrencies such as SafeMoon. However, it can take some time to achieve this. For example, Coinbase only listed Shiba Inu Coin in mid-June.
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Its founders have been holding ‘Ask Me Anything’ sessions to reassure potential investors of its legitimacy due to the unregulated nature of cryptocurrencies.
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Billionaire Elon Musk hasn’t gotten involved yet like he has with Dogecoin and Shiba, but that’s always a possibility.
Perhaps a bit odd, then, to decide to chart crypto prices against US Covid cases rather than global cases, given crypto is traded globally.
There is no publicly available information about what percentage of assets held by the exchange are kept in secure, offline cold storage vs. online hot wallets, or if there is an insurance policy that protects investors. You must have a Binance.US account to send queries to the help desk, so we were unable to get more information that way.
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One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought US$40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
The token is listed on over 12 crypto exchanges and posted a 3% drop in price over the past 24 hours.
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Campbell, J. Y. and R. J. Shiller (1988), “Stock prices, earnings, and expected dividends”, The Journal of Finance 43 (3), 661–676
As long as prices avoid closing below this barrier, odds favor a resumption of the uptrend toward a new all-time high at $4,574.
The former US banking regulator and crypto enthusiast is resigning at a time when regulators in Hong Kong, Britain, Germany, Japan, Italy and Thailand have cracked down on Binance due to worries over investor protection. Watchdogs globally also fret that the boom in cryptocurrencies is aiding money laundering and increasing systemic risks.