SAN SALVADOR, El Salvador (AP) — El Salvador became the first country to adopt Bitcoin as legal tender Tuesday, but the rollout stumbled in its first hours and President Nayib Bukele said the digital wallet used for transactions was not functioning.
In the last 24 hours, Bitcoin has gained around 3 percent and is trading above $67,000. The crypto has added over 10 percent in the past week.
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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.
Investors need not worry about these stocks, yielding from just over 3% to nearly 9%, being yield traps.
“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it -- they were excited to be so popular.”
What makes the fee structure so complicated is Binance’s focus on different fees for different levels of users. While, theoretically, this is similar in both the main platform and Binance.US, the American platform has fewer of these levels. For some, this may seem simple and clear; but it could also mean that using Binance.US is more costly than its main counterpart.
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The longer term relationship varies over time. After exhibiting strong positive correlation in 2013 (where prices rose), and 2014 (where prices fell for a sustained interval), the longer term relationship between Bitcoin and Litecoin starts to break down around the middle of 2015. It can be seen in the accompanying price plot that at this point the Bitcoin price starts to gradually recover, whereas the Litecoin price does not.
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A recent statement from President Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.”
Dogecoin, founded in 2012 as a joke, has drawn widespread attention from high-profile personalities such as billionaire entrepreneur Elon Musk and rapper Snoop Dogg.
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But it wasn’t just outside pessimism that led to the slump, but infighting as well. Blockchains are decentralized, and democratic systems require buy-in from participants in order to keep the engines running. When there’s a schism that can’t be decided by the majority, all hell breaks loose.
The encryption algorithm is slightly different as well. Litecoin is often the second- or third-most popular cryptocurrency by market capitalization.
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Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
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