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BTC Price Action: According to CoinMarketCap data, Bitcoin is trading at $63,559.44 as of Thursday afternoon after seeing its price fall by about 4.74% over the last 24 hours.
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Brian Shroder, who was previously an executive at Ant Group Co. and Uber Technologies Inc., will oversee the crypto exchange’s strategy, execution, fundraising, business and corporate development, and manage its legal, human resources and product and technology functions, the company said in a statement. Brian Brooks, who had been CEO, resigned recently just months into his tenure amid a slew of compliance setbacks and regulatory scrutiny tied to the crypto exchange’s sister company.
The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order-book events.
The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
GURA: And Gensler is asking lawmakers for their support and for more resources. That makes Senator Lummis nervous. She's worried more rules will make the U.S. less competitive. And the crypto industry is also fighting back. So far this year, it spent more than $2.5 million lobbying lawmakers. Republican Congressman Warren Davidson believes Congress needs to make a decision about what to do with cryptocurrency and soon.
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It's working: in just the past few months, we took down 1.7 billion fake accounts to stop bad actors from doing harm.
The cryptocurrency market woke up to a shock in early trading on Thursday morning. On the Binance US cryptocurrency exchange, the value of Bitcoin (BTC) plummeted nearly 87 percent in value, settling around $8,200. The issue that caused the value spike was reportedly corrected swiftly and the Bitcoin value returned to its normal levels within a couple of minutes.
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Loopring263 (-11.33%) The Graph89.07 (-9.49%) Internet Computer3,882 (-9.45%) Theta Network594 (-8.96%)
SafeMoon's native token collapsed in price by more than 20% following the issues.
Blockchains typically function via proof-of-work (PoW) or proof-of-stake (PoS) consensus algorithms. PoW operates based on miners who often designate specific computing machines for the process.
The surge in Bitcoin’s value in recent weeks follows the much anticipated first Bitcoin ETF debuting on the New York Stock Exchange, and a record-breaking October for the stock market in general.