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Yet tales of meme-coin holders becoming millionaires have attracted new waves of retail investors to crypto -- along with a growing number of nefarious players. In May, the Federal Trade Commission tallied a record number of crypto investment scams, with Americans’ losses totaling around $80 million since October.
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In turn, cryptocurrency exchange platforms such as Binance have been feeling the heat across the world as regulators and governments have started to pay close attention to the operations of such platforms in the wake of the global crackdown on crypto.
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Brooks led the Office of the Comptroller of the Currency (OCC) before joining Binance.US. At the time, his move to Binance.US raised some eyebrows because Binance is not seen as the poster child of compliance, particularly compared to Coinbase where Brooks worked before joining the OCC.
Speculators in the crypto community continue to describe Brooks move as a stepdown, however, in terms of company size and brand awareness in the crypto space considering his office as CEO of Binance US previously.
Elon Musk changes his Twitter name to 'Lorde Edge' - and some users see it as a nod to dogecoin
When the spectre of restrictive regulation hovers over the cryptocurrency markets, steep drops invariably occur. If it happens to concern China or the US, brace yourself if you’re an investor—the market never stops trading, and what took months to build can crumble to nothing in an afternoon.
Users can create scenes, graphics, challenges as well as trade digital assets including LAND, estates, and avatar apparel.
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Altcoins are alternative versions of Bitcoins, but with minor changes. They are often a result of a Bitcoin fork. There are many different types of altcoins.
There has also been a big debate on Safemoon tokenomics. Most of the competing coins have more appealing and innovative tokenomics than Safemoon. Whereas the Bitrise coin has an automated buyback and burning process, Safemoon is burning manually. This means the regulation of the Safemoon token liquidity is less transparent.
These numbers are far greater than Binance.US. U.S. regulations limit the number and types of cryptocurrency that a U.S.-based company can sell to U.S. customers. As a direct result of these rules, Binance.US only offers about 53 cryptocurrencies for exchange to U.S. residents. This number is much lower than Binance’s international exchange but is on par with other U.S.-based exchanges.
Play iconA circle surrounding a triangle pointing right. It indicates, "this type of media can be played."Crypto investing: All you need to know!
This lack of regulation means its transaction costs are less - making it an attractive tool or investment for people to move digital money around the world.